Financial Performance - The company's revenue decreased by 42.1% from approximately HKD 80.4 million for the year ended March 31, 2022, to approximately HKD 46.6 million for the year ended March 31, 2023[17]. - The gross profit declined by 14.9% from approximately HKD 32.6 million for the year ended March 31, 2022, to approximately HKD 27.7 million for the year ended March 31, 2023[17]. - The loss attributable to the owners of the company was approximately HKD 382.1 million for the year ended March 31, 2022, compared to a loss of approximately HKD 25.1 million for the year ended March 31, 2023[17]. - The adjusted loss (excluding certain significant non-recurring or non-operating income and expenses) decreased by 13.6% from approximately HKD 31.0 million for the year ended March 31, 2022, to approximately HKD 26.8 million for the year ended March 31, 2023[17]. - Basic or diluted loss per share was approximately HKD 0.228 for the year ended March 31, 2022, compared to approximately HKD 0.011 for the year ended March 31, 2023[17]. - The adjusted basic or diluted loss per share decreased by 38.9% from approximately HKD 0.018 for the year ended March 31, 2022, to approximately HKD 0.011 for the year ended March 31, 2023[17]. - The company reported a total comprehensive loss attributable to owners of the company of HKD (24,336) thousand for the year 2023, compared to a loss of HKD (385,861) thousand in 2022, representing a significant improvement[39]. - The company reported a net loss attributable to owners of HKD 25,084,000 for 2023, compared to a much larger loss of HKD 382,145,000 in 2022, indicating an improvement in financial performance[93]. - The gross profit margin increased from approximately 40.5% for the year ended March 31, 2022, to about 59.5% for the year ended March 31, 2023, primarily due to higher margins from projects in Malaysia[133]. Cash Flow and Liquidity - The company reported a net cash outflow from operating activities of HKD 9.094 million for the year ended March 31, 2023[10]. - The company had cash and cash equivalents of HKD 18.608 million as of March 31, 2023[10]. - The company’s operating cash flow for the year was HKD 9,094,000, indicating ongoing operational challenges[31]. - The company plans to issue convertible bonds amounting to USD 15,000,000 to improve its financial position[33]. - The total amount payable to plan creditors is HKD 174.1 million, of which HKD 104.4 million has been settled through the issuance of company shares as of June 28, 2023[180]. Assets and Liabilities - As of March 31, 2023, the company's current liabilities amounted to HKD 204.271 million, including HKD 133.779 million related to debt restructuring[10]. - The total assets as of March 31, 2023, were HKD 373,638,000, down from HKD 417,811,000, representing a decrease of 10.6%[35]. - Total liabilities decreased to HKD 246,986,000 from HKD 272,170,000, a reduction of 9.2%[35]. - The company’s net asset value decreased to HKD 126,652,000 from HKD 145,641,000, a decline of 13.0%[35]. - The total non-current liabilities reported for 2023 were HKD 40,328,000, with current liabilities at HKD 133,779,000, leading to a total liabilities of HKD 174,107,000[99]. - The company's total borrowings classified as current liabilities decreased from HKD 32,999,000 in 2022 to HKD 9,000,000 in 2023, representing a reduction of approximately 72.7%[99]. Debt and Restructuring - The company has initiated a debt restructuring plan aimed at alleviating liquidity pressure and improving financial conditions, which received all necessary approvals and became effective on February 21, 2023[50]. - The group plans to restructure its financial liabilities, with overall debt increasing due to the inclusion of certain trade payables[147]. - The company recorded a financing cost of HKD (23,260) thousand in 2023, down from HKD (49,398) thousand in 2022, indicating a reduction in financing expenses[61]. - Interest expenses on borrowings decreased from HKD 15,327,000 in 2022 to HKD 7,537,000 in 2023, a reduction of approximately 51.0%[64]. Revenue Sources and Projects - The company's revenue analysis includes income from energy-saving product trading, leasing services, consulting services, and renewable energy services[61]. - Revenue from energy-saving product trading dropped significantly from HKD 64,646,000 in 2022 to HKD 18,538,000 in 2023, a decline of about 71.3%[83]. - The "Light in the Dark" project in Malaysia has installed approximately 52,000 LED lights, generating revenue of about HKD 14.4 million for the year ended March 31, 2023[159]. - The company has launched new projects under the energy-saving systems and product leasing services, collaborating with the Malaysian state government to implement environmental measures[52]. Financial Ratios and Performance Indicators - The current ratio decreased from approximately 1.2 times as of March 31, 2022, to approximately 1.0 times as of March 31, 2023[178]. - The group's capital debt ratio as of March 31, 2023, was 144.6%, an increase from 98.3% as of March 31, 2022[190]. - The expected credit loss provision for trade receivables and finance lease receivables was approximately HKD 45.0 million, reflecting a lower expected loss rate compared to March 31, 2022[143]. - The expected loss rates for trade receivables as of March 31, 2023, were 1.21% for non-overdue, 5.67% for overdue 1 to 30 days, and 87.01% for overdue over 365 days[141]. Other Financial Information - The company did not declare or pay any dividends during the year, consistent with the previous year[92]. - The group's share of results from associates was approximately HKD 1.5 million, a decrease from approximately HKD 7.4 million for the year ended March 31, 2022[144]. - The group's other income and gains were approximately HKD 1.0 million, a significant decrease from approximately HKD 9.6 million for the year ended March 31, 2022, primarily due to a reduction in fair value gains from equity investments[161]. - The group's sales and distribution costs increased by approximately 126.7% to about HKD 6.1 million for the year ended March 31, 2023, compared to approximately HKD 2.7 million for the previous year, mainly due to increased advertising and promotional expenses[162].
知行集团控股(01539) - 2023 - 年度业绩