Financial Performance - Revenue for the fiscal year 2023/24 reached HKD 625,372,000, an increase of 8.3% compared to HKD 577,494,000 in 2022/23[6] - Gross profit for the same period was HKD 136,994,000, slightly down from HKD 137,304,000, resulting in a gross margin of 21.9%[6] - The company reported a profit before tax of HKD 30,970,000, a significant recovery from a loss of HKD 24,508,000 in the previous year[6] - Net profit attributable to shareholders was HKD 29,713,000, compared to a loss of HKD 27,478,000 in 2022/23, marking a turnaround[6] - Total assets increased to HKD 907,483,000 from HKD 648,730,000, reflecting a growth of 39.9% year-on-year[6] - Cash and cash equivalents at year-end decreased to HKD 55,867,000 from HKD 67,190,000, a decline of 16.5%[7] - Revenue increased from approximately HKD 577.5 million in FY2023 to approximately HKD 625.4 million in FY2024, representing an increase of about 8.3%[27] - Gross profit decreased slightly from approximately HKD 137.3 million in FY2023 to approximately HKD 137.0 million in FY2024, with a gross margin decline from 23.8% to 21.9%[28] - Other income included a fair value gain of approximately HKD 32.3 million in FY2024, compared to a loss of approximately HKD 29.5 million in FY2023, primarily due to non-listed investments[30] - Distribution and selling expenses increased by approximately 13.6% from about HKD 36.1 million in FY2023 to about HKD 41.0 million in FY2024[31] - Financing costs rose by approximately 38.3% from about HKD 3.4 million in FY2023 to about HKD 4.6 million in FY2024[34] - Tax expenses decreased by approximately 55.1% from about HKD 4.6 million in FY2023 to about HKD 2.1 million in FY2024[35] - The company recorded a profit attributable to owners of approximately HKD 29.7 million in FY2024, compared to a loss of approximately HKD 27.5 million in FY2023[36] - Net cash generated from operating activities decreased by approximately 40.2% from about HKD 23.1 million in FY2023 to about HKD 13.8 million in FY2024[37] - The company's cash and cash equivalents were approximately HKD 55.9 million as of March 31, 2024, down from HKD 67.2 million as of March 31, 2023[40] Strategic Initiatives - The company plans to expand its market presence and invest in new product development to drive future growth[6] - Ongoing investments in technology and potential acquisitions are part of the strategic initiatives to enhance competitive advantage[6] - The company is focusing on strengthening its cybersecurity products and services as a primary strategic objective[13] - The company aims to diversify its revenue sources in the long term by actively managing and identifying suitable investment opportunities[16] - The company is expanding its distribution partnerships with leading Chinese suppliers to enhance its product offerings[13] - The company launched new cybersecurity services, including grShield and grKey, to enhance its service offerings without requiring significant initial capital investment[21] Corporate Governance - The board emphasizes the importance of sound corporate governance practices to protect and enhance shareholder interests[81] - The company has established a culture that promotes creativity and innovation in cybersecurity and fintech solutions[82] - The board retains decision-making authority over significant matters, including policies, strategies, budgets, and major transactions[85] - The company has a robust mechanism to support a strong independent board, ensuring independent judgment on key issues[88] - The company has a comprehensive approach to corporate governance, including regular reviews of compliance with legal and regulatory requirements[87] - The board is responsible for overseeing the implementation of corporate governance policies and practices[86] - The company has a commitment to transparency and collective accountability in its operations[85] - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[93] - The board conducted a self-assessment led by the remuneration committee to evaluate its performance and effectiveness, resulting in a plan for improvement actions[90] - The company has established a nomination committee to recommend candidates for board vacancies and corporate governance policies[99] - The board will propose the re-election of all retiring directors at the upcoming annual general meeting[99] - The board of directors will hold at least four regular meetings in the next year to review and approve financial statements and overall strategies[108] - The attendance record for board meetings shows that all executive directors attended 100% of the meetings held[108] Risk Management - The risk management framework includes a risk management organization structure comprising the board, audit committee, and risk management team, which meets at least annually to assess significant risks[148] - Apex Risk Management Limited was appointed to conduct an independent review of the internal control system for the fiscal year 2024, with findings reported to the audit committee and board[149] - The company has adopted a risk management policy to identify, assess, and manage significant risks, with a focus on maintaining effective internal controls[151] - The board has established a clear governance structure and reporting mechanisms to manage risks associated with achieving strategic objectives[148] - The company has implemented a whistleblowing policy to allow employees and stakeholders to report potential misconduct confidentially[149] - The board believes that the risk management and internal control systems are effective and sufficient to address the changing external environment[149] Shareholder Communication - The group emphasizes fair disclosure and comprehensive reporting of its performance and activities to enhance investor relations[155] - The annual general meeting for 2024 will be held on or before September 30, 2024, with details published on the Hong Kong Stock Exchange and the company's website[155] - The board has adopted an insider information disclosure policy since 2017 to ensure compliance with listing rules and securities regulations[154] - The group will implement measures to maintain confidentiality of insider information until an announcement is made[154] - The board is satisfied with the implementation and effectiveness of the shareholder communication policy during the fiscal year 2024[165] - The group provides various communication channels for shareholders to enhance engagement and feedback[164] Workforce and Diversity - The company has 128 employees as of March 31, 2024, down from 134 employees the previous year, with employee costs of approximately HKD 93.4 million[55] - The company is committed to reviewing and evaluating the appropriate level of gender diversity on the board, with no numerical targets set currently[130] - As of March 31, 2024, the workforce composition is approximately 64.8% male and 35.2% female, indicating a focus on gender diversity in the workforce[131] - The board currently consists of six male directors and one female director, with efforts to identify and appoint suitable female candidates[128] - The company aims to enhance board diversity by considering various factors, including gender, age, cultural background, and professional experience[130] - The nomination committee will review the composition of the board annually and monitor the implementation of the board diversity policy[132] Investment and Acquisitions - The company completed the sale of its subsidiary, Lion Global Asset Management, to free up capital for internal use and new investment opportunities[14] - The fair value gain from the strategic investment in Hong Kong Digital Asset Ex Limited (HKbitEX) was approximately HKD 32.4 million for fiscal year 2024[23] - The company aims to sell its shares in Tykhe Capital Group Limited to maximize returns for shareholders in the foreseeable future[48] - The investment in Tykhe originally represented about 6% of the issued shares, which has since been diluted to approximately 5.82%[48] - The total investment in HKbitEX's holding company amounts to HKD 13.073 million, with a fair value loss of HKD 1.373 million during the year[48] Board and Management - The company has appointed a new Chief Operating Officer starting April 2024, enhancing its operational leadership[78] - The company secretary is responsible for maintaining the records of board meetings and ensuring they are available for review by directors at any time[109] - The company has adopted share incentive and stock option plans to motivate eligible employees, with details provided in the financial statements[192] - The company has no management or administrative contracts related to any significant part of its business for the fiscal year 2024[194] - No significant transactions or arrangements involving directors or related parties were reported for the fiscal year 2024[195] - The company’s major shareholders include 廖先生 and 羅先生, each holding 56.76% of the ordinary shares through controlled corporations[197] - The total number of issued ordinary shares as of March 31, 2024, was 1,004,217,000[198] - As of March 31, 2024, no directors or key executives of the company hold any shares or related securities that require disclosure under the Securities and Futures Ordinance[200]
安领国际(01410) - 2024 - 年度财报