Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 144,950,000, a decrease of 27.1% from HKD 198,924,000 in the previous year[4] - The gross profit for the same period was HKD 32,667,000, slightly down from HKD 32,868,000, indicating a stable gross margin despite lower sales[4] - The company experienced an operating loss of HKD 87,588,000, compared to an operating loss of HKD 35,786,000 in the previous year, reflecting a significant increase in operational challenges[4] - The net loss for the year was HKD 87,563,000, which is a 109.5% increase from the net loss of HKD 41,793,000 in the prior year[4] - Total comprehensive loss for the year amounted to HKD 109,310,000, compared to HKD 91,220,000 in the previous year, indicating worsening financial performance[5] - The company recorded a significant increase in impairment losses, with accounts receivable impairment losses rising to HKD 27,462,000 from HKD 13,092,000[4] - The operating loss for the year ending March 31, 2024, was HKD 83,447,000, compared to an operating loss of HKD 55,358,000 for the previous year, indicating a worsening of operational performance[20] - The company reported a total loss for the year of HKD 87,563,000, which is an increase from the loss of HKD 41,793,000 reported for the previous year, reflecting a significant decline in profitability[21] - The impairment loss on intangible assets for the year ending March 31, 2024, was HKD 60,023,000, compared to HKD 36,435,000 for the previous year, indicating increased challenges in asset valuation[20] - The group reported a loss attributable to shareholders of HKD 87,432,000 for the year ended March 31, 2024, compared to a loss of HKD 41,749,000 in the previous year, representing an increase in loss of approximately 108%[31] - Basic and diluted loss per share for the current year was HKD (2.12) compared to HKD (1.01) in the previous year, indicating a significant decline in earnings[31] Revenue Breakdown - Revenue from goods sales was HKD 113,181,000, down 33.1% from HKD 169,218,000 in the previous year[16] - Interest income from lending, factoring, finance leasing, and guarantee financing increased to HKD 28,946,000, up 24.5% from HKD 23,284,000[16] - Brokerage commission income decreased to HKD 1,068,000, down 48.2% from HKD 2,063,000[16] - The total income from underwriting and placement commissions was HKD 1,755,000, down 57.8% from HKD 4,159,000[16] - Asset management fee income was zero in 2024, compared to HKD 200,000 in 2023[16] - The trading business recorded revenue of approximately HKD 113.2 million and a loss of about HKD 29.8 million for the year ending March 31, 2024, compared to revenue of approximately HKD 169.2 million and a loss of HKD 6.3 million in the same period last year, representing a revenue decrease of about 33.1%[44] - The financial services segment generated revenue of approximately HKD 6,000,000 and recorded a loss of about HKD 31,500,000 for the year ending March 31, 2024, compared to revenue of approximately HKD 12,500,000 and a loss of HKD 32,800,000 in the previous year[54] Asset and Liability Management - The company's total assets decreased to HKD 767,563,000 from HKD 916,102,000, reflecting a decline in overall financial health[6] - Current liabilities were reported at HKD 42,524,000, down from HKD 69,352,000, suggesting improved short-term financial management[8] - Total liabilities as of March 31, 2024, were HKD 43,778,000, compared to HKD 83,007,000 as of March 31, 2023, indicating a reduction in financial obligations[23] - Non-current assets totaled HKD 30,456,000 as of March 31, 2024, a decrease from HKD 36,618,000 as of March 31, 2023, showing a reduction in long-term asset holdings[22] - Current assets amounted to HKD 511,064,000 as of March 31, 2024, compared to HKD 620,628,000 as of March 31, 2023, indicating a decline in liquidity[23] - The group recorded a one-time total loss of approximately HKD 16,400,000 from the sale of interests in joint ventures and the write-off of subsidiaries[43] Impairment and Credit Risk - The group recognized an impairment loss of approximately HKD 27.4 million on accounts receivable due to increased credit risk, reflecting a cautious reassessment of customer situations in a challenging economic environment[45] - The group recorded an impairment loss of approximately HKD 11,300,000 on intangible assets due to the financial services segment's carrying amount exceeding its recoverable amount[54] - The group is closely monitoring the credit status of potential and current customers and will implement appropriate strategies to mitigate credit risk and recover outstanding amounts[47] - The management team regularly reviews overdue amounts to minimize credit risk and follows up closely with clients on repayment deadlines[53] - The group has engaged an independent appraiser to assist in assessing the expected credit loss model for receivables as of March 31, 2024[56] Strategic Initiatives and Market Conditions - The company is primarily engaged in investment holding, trade, lending, factoring, leasing, and financial services, focusing on expanding its market presence in these sectors[9] - The overall market conditions have been less than ideal, with economic recovery post-COVID-19 being weaker than expected, impacting the financial strength of lending customers[47] - The group has prudently adjusted its loan portfolio to capture market opportunities arising from policy easing measures by the Chinese government, although there has not been a significant increase in the loan portfolio during the year[47] - The group plans to adjust its product mix to align with market needs and drive the development of its trading business in response to the macroeconomic environment[45] - The group is actively exploring the feasibility of developing other financial services to increase revenue sources amid a declining market environment[54] - The company has entered into a non-binding memorandum of understanding with two potential sellers for the acquisition of a target company involved in medical devices and healthcare products[57] Corporate Governance and Reporting - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the fiscal year ending March 31, 2024[67] - The annual performance announcement and annual report will be available on the Hong Kong Stock Exchange website and the company's investor relations section[68] - The board did not recommend any dividend payment for the year ended March 31, 2024, consistent with the previous year[62] - The total number of issued shares as of March 31, 2024, was 4,120,600,000, with no changes in share capital during the year[63] - There were no significant contingent liabilities reported as of March 31, 2024[64] - The group employed 56 staff as of March 31, 2024, an increase from 46 in 2023, and continued to provide regular training to enhance team capabilities[64]
新质数字(02322) - 2024 - 年度业绩