Financial Performance - The group's revenue for the year ended March 31, 2024, was approximately HKD 41.2 million, a decrease of about 7.8% compared to HKD 44.7 million for the year ended March 31, 2023[2]. - The loss attributable to equity holders for the year ended March 31, 2024, was approximately HKD 27.2 million, compared to a loss of HKD 34.7 million for the year ended March 31, 2023[2]. - Gross profit for the year ended March 31, 2024, was HKD 30.1 million, slightly down from HKD 30.8 million in the previous year[4]. - Operating loss for the year ended March 31, 2024, was HKD 26.4 million, an improvement from an operating loss of HKD 28.3 million in the previous year[4]. - The group recorded other income of HKD 162,000 for the year ended March 31, 2024, a significant decrease from HKD 2.6 million in the previous year[4]. - The company reported a net loss before tax of HKD 26,982,000 for the year ending March 31, 2024[37]. - The group recorded a net loss of approximately HKD 27.2 million for the year ending March 31, 2024, compared to a net loss of approximately HKD 34.7 million for the previous year[132]. - Total revenue decreased from approximately HKD 44.7 million to approximately HKD 41.2 million, primarily due to weak retail sales of women's lingerie products[128]. - Sales of women's lingerie products amounted to approximately HKD 38.8 million, a decrease of about 9.3% compared to the previous fiscal year[128]. Assets and Liabilities - The group's total assets less current liabilities as of March 31, 2024, were HKD (7.5) million, compared to HKD 19.2 million in the previous year[13]. - The group's current liabilities and net liabilities as of March 31, 2024, were approximately HKD 20.3 million and HKD 9.1 million, respectively[19]. - The group had total assets of approximately HKD 59.4 million as of March 31, 2024, down from approximately HKD 93.4 million the previous year[134]. - Total liabilities decreased to approximately HKD 68.5 million from approximately HKD 80.2 million in the previous year[135]. - The net current liabilities amounted to HKD 20,288,000, compared to HKD 11,171,000 in the previous year[26]. - The group reported a loss of approximately 9.1 million HKD as of March 31, 2024, compared to total equity of approximately 13.2 million HKD in 2023, indicating a significant decrease in equity[79]. Cash Flow and Funding - The group has prepared cash flow forecasts considering available financial resources, ensuring sufficient funds to meet financial obligations in the next twelve months[20]. - The company plans to strengthen its capital base and liquidity by proposing a general mandate to issue new shares to obtain external funding for its operations and business development[19]. - The company plans to continue evaluating its capital structure through dividends, issuing new shares, and debt management strategies to balance its overall capital framework[120]. - The company will continue to monitor cash flow closely to ensure sufficient operational funding[136]. Cost Management - The company has implemented various cost control measures to reduce operating costs and increase revenue[30]. - Selling expenses reduced from approximately HKD 23.6 million to approximately HKD 20.2 million, mainly due to decreased employee costs and depreciation related to leased retail stores[129]. - The total employee cost for the group was approximately HKD 23.1 million, down from HKD 26.9 million in the previous year[154]. Shareholder Information - The board does not recommend the distribution of dividends for the year ending March 31, 2024[21]. - The company did not declare or pay any dividends during the year, consistent with the previous year[99]. - The company successfully placed 41,832,500 shares at a price of HKD 0.1 per share, raising approximately HKD 4.0 million after deducting issuance expenses of about HKD 0.2 million[109]. - The company successfully placed a total of 26,314,500 shares at a price of HKD 0.2 per share, raising approximately HKD 5.1 million for business development and general operating funds[138]. Governance and Compliance - The company has maintained compliance with corporate governance standards as per GEM listing rules, with no significant deviations reported[165]. - The audit committee has reviewed the consolidated financial statements for the year ending March 31, 2024, confirming compliance with applicable accounting standards[169]. - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[167]. - The company will continue to review and update its corporate governance practices to ensure compliance with legal and business standards[165]. Operational Challenges - The company faced a challenging retail environment due to political, military, economic, and social uncertainties affecting local consumer sentiment[111]. - The group plans to focus on optimizing its product mix and strengthening cost control to stabilize growth amid a challenging retail environment[127]. - The company has identified significant uncertainty regarding its ability to continue as a going concern, dependent on achieving profitable operations and obtaining external funding[19]. Miscellaneous - The company has adopted new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position or performance for the current and prior periods[32]. - The group anticipates no significant impact on consolidated financial statements from the recent accounting standard revisions in the foreseeable future[49]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are effective after April 1, 2023[48].
海纳星空科技(08297) - 2024 - 年度业绩