Financial Performance - The group's total revenue for the year ended March 31, 2024, was approximately HKD 92.7 million, an increase of about 99.0% compared to approximately HKD 46.6 million for the year ended March 31, 2023[27]. - The group's profit attributable to owners for the year was HKD 8,023 thousand, a significant improvement from a loss of HKD 25,084 thousand in the previous year[2]. - The basic and diluted earnings per share for the year were HKD 0.3, compared to a loss of HKD 1.1 per share in the previous year[2]. - The group's EBITDA improved from a loss of approximately HKD 8.6 million for the year ending March 31, 2023, to a profit of about HKD 22.0 million for the year ending March 31, 2024[48]. - The group’s net profit for the year ending March 31, 2024, was HKD 11.2 million, compared to a loss of HKD 24.0 million for the previous year[49]. - Adjusted profit for the year improved by 155.7% from a loss of approximately HKD 63.7 million to a profit of approximately HKD 35.5 million[184]. - The adjusted basic earnings per share improved by 139.1% from a loss of approximately 2.7 HK cents to a profit of approximately 1.1 HK cents[184]. Revenue Breakdown - The revenue from energy-saving product trading was HKD 40,278 thousand, up from HKD 18,538 thousand in the previous year[12]. - The consulting service revenue increased to HKD 12,931 thousand from HKD 4,863 thousand in the previous year[12]. - The revenue from renewable energy services was HKD 88 thousand, a decrease from HKD 2,696 thousand in the previous year[12]. - The unaudited financial data for the year ending March 31, 2024, shows a total revenue from external customers of HKD 39,322,000, compared to HKD 40,278,000 for the previous year[168]. Cost and Expenses - The group's financing costs decreased to HKD 3,276 thousand from HKD 23,260 thousand in the previous year[12]. - Other expenses reduced from approximately HKD 50.7 million for the year ending March 31, 2023, to about HKD 9.7 million for the year ending March 31, 2024[34]. - The cost of inventory sold for the year 2024 is reported at HKD 28,900,000, significantly up from HKD 14,958,000 in 2023, indicating a year-over-year increase of approximately 92%[199]. - Employee benefits expenses, including director remuneration, rose to HKD 27,644,000 in 2024 from HKD 21,344,000 in 2023, reflecting an increase of about 29.6%[199]. Financial Position - The total liabilities classified as current borrowings increased to HKD 17,417 thousand from HKD 9,000 thousand in the previous year[21]. - The current ratio improved from approximately 1.0 times as of March 31, 2023, to about 2.9 times as of March 31, 2024[51]. - The total amount payable to plan creditors was HKD 174.1 million, with HKD 104.4 million settled through the issuance of company shares, reducing overall debt[53]. - The total equity of the group as of March 31, 2024, was approximately HKD 314.1 million, an increase of about 147.9% compared to approximately HKD 126.7 million as of March 31, 2023[71]. - The capital debt ratio as of March 31, 2024, was 39.9%, a significant decrease from 144.6% as of March 31, 2023[80]. - Total assets increased to HKD 474.5 million from HKD 373.6 million year-on-year[183]. - Total liabilities decreased significantly from HKD 246.9 million to HKD 160.5 million[183]. - The company's equity attributable to owners increased to HKD 321,864,000 in 2024 from HKD 137,718,000 in 2023[166]. Credit and Receivables - Trade receivables aged over 365 days increased to HKD 138,147 thousand from HKD 115,823 thousand in the previous year[20]. - The expected credit loss rates for trade receivables as of March 31, 2024, are 1.20% for non-overdue, 5.75% for 1-30 days overdue, and 23.95% for 181-365 days overdue, reflecting a decrease in historical default rates[43][45]. - The expected credit loss rate for trade receivables within one year decreased from 5.53% as of March 31, 2023, to 1.49% as of March 31, 2024[61]. - The expected credit loss for trade receivables and finance lease receivables was assessed as fair and reasonable, reflecting macroeconomic factors and historical credit losses[62]. Strategic Initiatives - The company is expanding energy management contract solutions in the Middle East, starting from approximately 700 commercial, residential, and enterprise buildings in Abu Dhabi[95]. - A memorandum of understanding was signed with Nestlé and GoBiz to establish a VEGGiTY verification concept model in Malaysia, aiming for stable chili supply by December 2024[96]. - A strategic partnership was formed with Tongwei Solar to provide branded solar equipment products for the solar power market in the Middle East, Central Asia, Southeast Asia, and East Asia, with a projected market size of at least 30 GW by 2030[96]. - The company plans to continue expanding its renewable energy projects in China, anticipating more opportunities due to the country's "dual carbon" goals[126]. Governance and Compliance - The audit committee has been established to ensure the integrity and accuracy of the group's financial information[109]. - The board proposed to terminate the existing share option scheme and adopt a new share option scheme for 2024 to continue providing incentives to eligible participants[154][155]. - The company has adopted a stock option plan to reward eligible participants and enhance shareholder value[90]. - The board does not recommend any dividend payment for the fiscal year ending March 31, 2024[92]. Other Information - The company has no significant contingent liabilities or guarantees as of March 31, 2024[72][73]. - The company has initiated operations in the Middle East, completing an energy-saving project in collaboration with the UAE's Leaf Tower to enhance its lighting and cooling systems[122]. - The foreign exchange loss for 2024 is reported at HKD 7,423,000, which is more than double the loss of HKD 3,325,000 in 2023, indicating a worsening in currency fluctuations[199]. - The company announced the appointment of Ms. Cai Xinxin as a non-executive director effective July 31, 2024[150].
知行集团控股(01539) - 2024 - 年度业绩