Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of approximately $70.4 million, an increase of about 33.8% compared to the previous fiscal year[8]. - The gross profit for the same period was approximately $0.3 million, a decrease of about 72.7% from the previous fiscal year[8]. - The net loss attributable to shareholders was approximately $1.2 million, an increase of about 62.5% compared to the previous fiscal year[8]. - The pre-tax loss for the fiscal year was $1.2 million, which included a profit of $0.3 million from coal trading and regular corporate expenses of $1.5 million[11]. - The company recorded a pre-tax loss of $1.2 million for the fiscal year, compared to a pre-tax loss of $0.8 million in the previous year, mainly due to the reduction in gross profit[15]. - As of March 31, 2024, the company's cash and bank balances were approximately $6.3 million, down from $7.7 million as of March 31, 2023[16]. - The debt-to-equity ratio was approximately 12% as of March 31, 2024, a significant decrease from 132% in the previous year[17]. Business Operations - The company operates primarily in coal and other commodity trading, with clients mainly being state-owned and private companies in China and Singapore[10]. - The company does not maintain any coal inventory, relying on market knowledge and supplier relationships to meet customer demands[10]. - The total sales volume was approximately 0.91 million tons, up from about 0.67 million tons in the previous year[12]. - Gross profit for the fiscal year was approximately $0.3 million, a decrease from about $1.1 million in the previous year, primarily due to increased sales costs and inflation in labor, materials, and other production inputs[12]. - The company anticipates facing challenges in the future business environment due to economic fluctuations, conflicts, and supply-demand dynamics, which may adversely affect its business and short-term performance[24]. Corporate Governance - The company is committed to achieving good corporate governance and focuses on creating long-term sustainable growth for shareholders[93]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set and experience[94]. - The board has delegated daily management responsibilities to the executive directors while retaining approval rights for major decisions, including financial reports and capital raising activities[95]. - The company has adopted all provisions of the corporate governance code as per the listing rules, ensuring compliance and transparency[93]. - Independent non-executive directors provide support and independent opinions to the board, enhancing decision-making processes[96]. - The company emphasizes the importance of risk assessment and management in its corporate governance framework[93]. Shareholder Information - Reignwood International Holdings owns 337,465,038 shares, representing 65.76% of the company's issued share capital as of March 31, 2024[69]. - The largest supplier accounts for 25% of the group's procurement, while the top five suppliers collectively account for 82%[76]. - The largest customer contributes 30% to the group's sales, with the top five customers accounting for 89%[76]. - The company has maintained sufficient public float as per listing rules throughout the fiscal year ending March 31, 2024[77]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting[150]. Environmental, Social, and Governance (ESG) Performance - The company conducts annual materiality assessments to reflect stakeholders' concerns regarding ESG issues, with no significant changes in the importance matrix from the previous year[166]. - Key ESG issues identified include greenhouse gas emissions, waste management, and employee welfare, which are crucial for long-term business success[167]. - The company has implemented measures to enhance communication with stakeholders, focusing on their concerns and improving sustainable development performance[161]. - The company’s sustainable development governance policy is guided by applicable environmental and social laws, ensuring compliance and effective management[158]. - The company maintains ongoing dialogue with investors and shareholders through annual reports and ESG disclosures[162]. Employee Information - The total number of employees as of March 31, 2024, is 6, a decrease from 7 in the previous year, with 83% holding a bachelor's degree or higher[190]. - The employee turnover rate is 17% as of March 31, 2024, compared to 14% in the previous year, with 100% of the turnover occurring in employees under 31 years old[192]. - All employees received training, achieving a 100% training attendance rate, with total training hours increased to 76 hours from 45 hours in the previous year[197]. - The company has implemented various employee benefits, including medical insurance and annual salary reviews based on performance[186]. - The company confirmed compliance with employment laws and regulations in its operating jurisdictions as of March 31, 2024, with no use of child or forced labor[200].
安域亚洲(00645) - 2024 - 年度财报