Financial Performance - Revenue for the fiscal year ended March 31, 2024, was HKD 51,983,000, an increase of 8.8% from HKD 47,791,000 in the previous year[14] - Profit before tax for the fiscal year was HKD 19,782,000, up 27.5% from HKD 15,524,000 in the prior year[14] - The reported profit attributable to owners of the company was HKD 12,626,000, representing a 27.7% increase from HKD 9,878,000 in the previous year[14] - The company's profit attributable to owners increased by 28.2% to HKD 9,000,000 in FY2024, up from HKD 7,000,000 in FY2023, driven by an 8.8% revenue growth from HKD 47,800,000 to HKD 52,000,000[18] - The group recorded a revenue of HKD 52,000,000 for the fiscal year 2024, an increase of 8.8% from HKD 47,800,000 in fiscal year 2023, primarily due to a rise in corporate finance, asset management, and other consulting services[32] - The group’s after-tax profit increased by HKD 2,700,000 to HKD 12,600,000 in fiscal year 2024, consistent with the revenue increase and the net increase in the fair value of investment properties[41] Assets and Liabilities - Total assets decreased to HKD 586,300,000 from HKD 630,020,000, a decline of 6.9%[15] - Total liabilities decreased to HKD 193,331,000 from HKD 207,715,000, a reduction of 6.9%[15] - The net asset value of the company was HKD 392,969,000, down from HKD 422,305,000, a decrease of 6.9%[15] - As of March 31, 2024, the company's current assets increased to HKD 59,007,000 from HKD 38,862,000 in 2023, while current liabilities decreased slightly to HKD 74,363,000 from HKD 75,437,000[46] - The company's total debt decreased to HKD 146,700,000 in 2024 from HKD 161,470,000 in 2023, resulting in an improved debt-to-equity ratio of 37.3% compared to 38.2% in the previous year[46][50] Investment Activities - The company is optimistic about the economic outlook in Japan, particularly in the semiconductor value chain, indicating potential for mid-term capital appreciation[11] - The company is exploring ways to unlock value in its Japanese real estate portfolio through optimization or redevelopment[11] - The company is actively expanding its investment activities by establishing a Japanese real estate fund[11] - The company acquired two residential properties in Japan and sold one as part of its portfolio optimization plan during FY2024[24] - The company plans to acquire a residential property in Sapporo, Japan, for a cash consideration of JPY 180,000,000 (approximately HKD 9,800,000), expected to be completed by November 1, 2024[59] Revenue Sources - Revenue from corporate finance, asset management, and other consulting services grew by 34.0% to HKD 21,900,000 in FY2024, primarily due to increased activity in regulatory-driven financial advisory work[23] - The total revenue from financial advisory services was HKD 12,955,000, accounting for 59% of the total consulting revenue in FY2024[22] - The company’s asset management and other consulting services generated HKD 5,707,000 in revenue, representing 26% of total consulting revenue in FY2024[22] Property and Rental Income - The company's rental income from property investments amounted to HKD 30,100,000 in FY2024, a decrease from HKD 31,500,000 in FY2023, attributed to the depreciation of the Japanese yen against the Hong Kong dollar[24] - Rental income from the Japanese real estate portfolio increased by 2.8% in yen terms, from JPY 518,000,000 in fiscal year 2023 to JPY 533,000,000 in fiscal year 2024, while in HKD terms, it decreased from HKD 30,000,000 to HKD 28,700,000 due to yen depreciation[35] - The average occupancy rate of the investment properties in Japan was reported at 94% for FY2024[25] - The overall occupancy rate of the group's investment portfolios in Hong Kong and Japan improved from 93.5% in fiscal year 2023 to 95.6% in fiscal year 2024[34] Governance and Compliance - The company is committed to high standards of corporate governance and transparency to maximize shareholder value while considering other stakeholders[70] - The board consists of three executive directors and three independent non-executive directors, ensuring strong independence in decision-making[77] - The audit committee is composed of three independent non-executive directors, with a focus on reviewing financial statements and overseeing internal controls[83] - The company has established three committees: audit, remuneration, and nomination, to oversee specific aspects of governance[80] - The independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring compliance with governance standards[79] Shareholder Information - The company proposed a final dividend of HKD 0.08 per share for the fiscal year ending March 31, 2024, totaling HKD 655,440, which is a new dividend compared to no dividend in the previous year[147] - The company has established a dividend policy balancing sufficient capital maintenance for business development and rewarding shareholders[108] - The company has a communication policy to provide shareholders and potential investors with information through its website and the stock exchange[108] - Shareholders can submit written inquiries to the company secretary for communication with the board[116] Employee and Management Structure - The group had 18 employees as of March 31, 2024, an increase from 15 employees in 2023[171] - The total number of executive directors and senior management is 7, with 3 earning between HKD 0 and 1,000,000 and 4 earning between HKD 1,000,001 and 2,000,000[104] - The company maintains good relationships with customers, suppliers, and employees, ensuring regular reviews of employee compensation[151] Risk Management - The board has reviewed the effectiveness of the risk management and internal control systems for the fiscal year 2024, finding them adequate and effective[114] - The company is adapting its business strategy in response to the fluctuating sentiment in the Hong Kong IPO and privatization activities[64] - The company faces risks related to regulatory compliance, retention of licensed personnel, and the execution of senior management efforts[63]
浩德控股(08149) - 2024 - 年度财报