Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 30,700,000, a decrease of about 32.4% compared to HKD 45,400,000 in the same period of 2023[4] - The net loss for the fiscal year was approximately HKD 4,900,000, an increase of about 6.5% from a net loss of HKD 4,600,000 in 2023[4] - The gross profit for the fiscal year was HKD 6,499,000, compared to HKD 7,049,000 in the previous year[5] - The company recorded a loss of approximately HKD 4,852,000 for the year ended March 31, 2024, compared to a loss of HKD 4,644,000 in the previous year[30] - The company reported a basic and diluted loss per share of HKD 0.98 for the fiscal year ending March 31, 2024, compared to HKD 0.94 in the previous year[5] - The group reported a basic loss per share of HKD 0.98 for 2024, compared to HKD 0.94 in 2023, indicating a slight increase in losses[51] - The gross profit margin improved to approximately 21.2% for the year ended March 31, 2024, compared to approximately 15.5% for the year ended March 31, 2023[69] Dividends and Share Capital - The board of directors did not recommend any dividend payment for the fiscal year ending March 31, 2024, consistent with the previous year[4] - The group did not declare any dividends for the year ending March 31, 2024, consistent with the previous year[53] - The company's issued share capital remained stable at HKD 4,930,000 for both 2023 and 2024, indicating no changes in share structure[27] Assets and Liabilities - As of March 31, 2024, the company's current liabilities exceeded current assets by approximately HKD 6,750,000, indicating a negative net current liability position[30] - Total assets decreased from HKD 15,305,000 in 2023 to HKD 12,286,000 in 2024, reflecting a decline in financial health[30] - The total equity attributable to the owners of the company was approximately a loss of HKD 1,000,000 as of March 31, 2024, compared to equity of approximately HKD 3,900,000 in the previous year[71] Income and Expenses - The company recorded a decrease in other income from HKD 924,000 in 2023 to HKD 293,000 in 2024[5] - Total employee costs for 2024 amounted to HKD 14,345,000, down 13.8% from HKD 16,642,000 in 2023[45] - General and administrative expenses decreased to approximately HKD 11,100,000 for the year ended March 31, 2024, from approximately HKD 11,500,000 in the previous year, a reduction of about HKD 400,000 or 3.5%[70] - Other income for 2024 was HKD 293,000, a decrease of 68.3% from HKD 924,000 in 2023, primarily due to the absence of government subsidies[41] Cash Flow and Financing - The company has an available undrawn loan facility of approximately HKD 8,108,000 as of March 31, 2024[15] - The company has obtained a credit facility of up to HKD 10,000,000 to address potential liquidity gaps, with an available amount of approximately HKD 8,108,000 as of March 31, 2024[32] - The company's cash and bank balances rose from HKD 3,958,000 in 2023 to HKD 4,838,000 in 2024, suggesting better liquidity management[30] - The financing costs for the group included interest on term loans of HKD 78,000 and lease liabilities of HKD 53,000, totaling HKD 131,000 for 2024[44] Operational Insights - The company is implementing various cost control measures to reduce operating costs and has policies in place to increase revenue[32] - The company plans to expand its range of construction-related services and explore new business opportunities in mainland China to enhance its revenue base[68] - The company has not provided any credit terms to its customers[7] Corporate Governance and Compliance - The company has complied with all corporate governance codes except for certain deviations related to independent directors and committees[92] - The audit committee consists of three independent non-executive directors and has reviewed the consolidated financial statements for the year ending March 31, 2024, recommending approval to the board[102] - Management is actively working to resolve the auditor's qualified opinion regarding other borrowings, with a court hearing scheduled for October 15, 2024[104] Market and Trading Status - The company’s shares were suspended from trading on July 3, 2023, and it has applied for resumption of trading on June 4, 2024[81] - The group operates solely within Hong Kong, with all external revenues generated from services provided in the region[38]
中国来骑哦(08039) - 2024 - 年度业绩