Business Operations - The company primarily engages in investment holding, with its subsidiaries focusing on mobile and personal electronic product repair and refurbishment services, as well as related accessories sales and support services[6]. - The company primarily engages in the repair and refurbishment of mobile phones and other personal electronic products, along with the sale of related accessories in Hong Kong[79]. - The main business of the company is investment holding, with subsidiaries engaged in various activities[154]. Financial Performance - The group reported revenue of HKD 54,387,000 for the year ending March 31, 2024, compared to HKD 51,381,000 in the previous year, representing an increase of approximately 5.9%[119]. - Gross profit for the year was HKD 11,251,000, slightly down from HKD 11,385,000, indicating a decrease of about 1.2%[119]. - The group incurred a loss before tax of HKD 9,234,000, compared to a loss of HKD 7,358,000 in the previous year, reflecting an increase in losses of approximately 25.5%[119]. - Total comprehensive loss for the year was HKD 9,299,000, up from HKD 7,282,000, marking an increase of about 27.8%[119]. - Basic and diluted loss per share was HKD 0.0715, compared to HKD 0.0554 in the previous year, representing an increase of approximately 29.0%[119]. - The group reported a significant impairment loss on investment properties of HKD 196,000, compared to HKD 2,098,000 in the previous year, indicating a decrease in impairment losses[119]. - The company reported an annual loss of HKD 9,174,000 for the year ending March 31, 2023, compared to a loss of HKD 7,115,000 for the previous year, indicating an increase in losses of about 29%[127]. - The group reported a loss of approximately HKD 9,174,000 for the year ending March 31, 2024, compared to a loss of HKD 7,115,000 in 2023, primarily due to increased fair value losses on financial assets[198]. Cash Flow and Assets - Operating cash flow for the year ending March 31, 2024, was HKD 215,000, a decrease from HKD 410,000 in the previous year, representing a decline of approximately 48%[131]. - Cash and cash equivalents decreased to HKD 3,811,000 as of March 31, 2024, down from HKD 4,593,000 at the beginning of the year, reflecting a decline of approximately 17%[134]. - The company reported a net cash outflow from investing activities of HKD 269,000 for the year ending March 31, 2024, compared to a net inflow of HKD 1,008,000 in the previous year[134]. - Financing activities resulted in a net cash outflow of HKD 728,000 for the year ending March 31, 2024, compared to an outflow of HKD 1,312,000 in the previous year, indicating a reduction in cash outflow of about 44%[134]. - Non-current assets decreased to HKD 54,246,000 from HKD 53,561,000, a slight increase of about 1.3%[121]. - Current assets decreased to HKD 31,370,000 from HKD 35,546,000, a decline of approximately 11.5%[121]. - The group's total equity decreased to HKD 70,734,000 from HKD 80,033,000, reflecting a decrease of about 11.6%[124]. - As of March 31, 2024, total equity amounts to HKD 70,734,000, a decrease from HKD 80,033,000 as of April 1, 2023, reflecting a decline of approximately 12%[127]. Shareholder Information - East-Asia Pacific Limited holds 66,000,000 shares, representing approximately 51.43% of the issued shares[53]. - Amazing Gain Limited also holds 66,000,000 shares, equivalent to 51.43% of the issued shares[53]. - Ms. 鄧鳳賢 holds 73,008,000 shares, accounting for 56.89% of the issued shares[53]. - Ms. 楊可琪 holds 73,602,000 shares, which is 57.35% of the issued shares[53]. Compliance and Governance - There were no significant events affecting the group during the financial year, and compliance with relevant laws and regulations has been reported[7]. - The company has maintained good relationships with employees, customers, suppliers, and business partners, with no serious disputes reported during the financial year[8]. - The board is committed to complying with regulations related to discrimination and employee welfare, ensuring the rights and well-being of its employees[13]. - The company has confirmed that there are no significant transactions or arrangements with directors or related entities that could pose a conflict of interest[21]. - The company has no direct or indirect interests in any competing businesses as of the end of the financial year[22]. - The group has complied with the disclosure requirements of the listing rules regarding connected transactions[32]. - The group’s related party transactions do not constitute any reporting or independent shareholder approval requirements under the listing rules[60]. - The independent auditor's report confirms that the financial statements present a true and fair view of the group's financial position[96]. - The board believes that corporate governance objectives focus on long-term financial performance rather than short-term returns[91]. Future Outlook - The group remains optimistic about future consumer demand in the electronics and mobile device market, driven by the ongoing digitalization and increasing penetration of 5G technology[172]. - The overall market sentiment is expected to improve as the Hong Kong economy gradually recovers, despite ongoing uncertainties in the retail sector[172]. - The group plans to focus on expanding its core business and exploring new value-added services to achieve diversified operations[176]. - The group aims for a sustainable business model to provide stable and continuous returns to shareholders[176]. Environmental and Internal Control Policies - The company has adopted environmental policies to implement eco-friendly practices and reduce waste in its operations[12]. - The company has established several policies to enhance its internal control systems, including anti-corruption and whistleblowing policies[77]. - The audit committee oversees the financial reporting process to ensure the absence of material misstatements due to fraud or error[144].
电讯首科(03997) - 2024 - 年度财报