Financial Performance - For the year ended March 31, 2024, the Group's revenue from continuing operations was approximately HK$30,693,000, representing an increase of approximately HK$3,499,000 or approximately 12.9% compared to HK$27,194,000 in the previous year[11]. - The consolidated loss attributable to owners of the Company for the year was approximately HK$213,149,000, compared to a profit of approximately HK$63,572,000 in the previous year[11]. - The gross profit margin for the year was approximately 88.5%, slightly down from approximately 89.1% in the previous year[11]. - The loss from continuing operations for the year was approximately HK$218,804,000, compared to a profit of approximately HK$58,970,000 in the previous year[11]. - Basic and diluted loss per share from continuing and discontinued operations was HK$2.47, compared to restated earnings per share of HK$1.50 and HK$1.37 in the previous year[11]. Assets and Liabilities - Total assets as of March 31, 2024, were approximately HK$5,408,807,000, down from HK$5,624,267,000 in the previous year[17]. - Total liabilities as of March 31, 2024, were approximately HK$2,361,611,000, slightly down from HK$2,389,101,000 in the previous year[17]. - Equity attributable to owners of the Company was approximately HK$3,047,196,000, down from HK$3,235,166,000 in the previous year[17]. Rental Income - Rental income from continuing operations totaled approximately HK$28,751,000, representing an increase of about 17.8% from approximately HK$24,408,000 in 2023[46]. - The company recorded property rental income of approximately HK$27,423,000, an increase of about 26.3% compared to HK$21,706,000 in 2023[46]. - In Singapore, property rental income decreased by approximately 50.9% to HK$1,328,000 from HK$2,702,000 in 2023, attributed to the disposal of one residential unit in July 2023[66]. Projects and Developments - The company completed the construction of the "THE HEDON" project in Causeway Bay, Hong Kong, with a gross floor area of approximately 42,854 square feet, obtaining the occupation permit in February 2024[39]. - The company also completed the "One Two One" project in Kowloon, Hong Kong, with a total gross floor area of approximately 7,326 square meters, obtaining the occupation permit in May 2024[39]. Investment and Financing - The Group's investment in equity securities listed in Hong Kong and the United States amounted to approximately HK$47,124,000, up from approximately HK$23,914,000 in the previous year[53]. - The Group received dividend income from listed securities investments of approximately HK$1,373,000, down from approximately HK$2,598,000 in the previous year[53]. - The Compensation Amount received from the Huzhou Government was RMB 386,982,000 (approximately HK$439,752,000), which will be used for general working capital and repayment of bank loans[51]. Corporate Governance and Compliance - The Company has fully complied with all applicable code provisions of the Corporate Governance Code during the year, ensuring diligence, accountability, and professionalism[166]. - The Board is committed to high standards of corporate governance, integrating social and environmental concerns into business operations[166]. - The Group is committed to enhancing long-term values and interests for shareholders and stakeholders, focusing on sustainable growth in both financial and ESG performance[182]. Risk Management - The Group's financial condition and operations are subject to risks including volatility in financial markets, commodity price fluctuations, and high inflationary pressures[160]. - The Group has made provisions for potential impairment losses due to increased default risk amid economic uncertainties[138]. - The Group's credit risk management includes stringent loan review procedures and ongoing monitoring of credit risks[137]. Employee and Operational Insights - As of March 31, 2024, the Group had 40 employees, with staff costs amounting to approximately HK$40,218,000, an increase of 34.2% from HK$29,929,000 in 2023[32]. - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong, despite global economic uncertainties[32].
高山企业(00616) - 2024 - 年度财报