Financial Performance - The company reported a significant increase in revenue, achieving a total of 1 billion HKD for the fiscal year 2023/24, representing a growth of 15% compared to the previous year[16]. - The company's revenue decreased from approximately HKD 1,326,000,000 in the previous fiscal year to HKD 937,000,000 in the current fiscal year, reflecting a significant decline[26]. - Profit attributable to the company's owners fell by about 31% from HKD 256,000,000 to HKD 177,000,000[26]. - The group's consolidated revenue for the year ended March 31, 2024, was approximately HKD 937 million, a decrease of 29% from HKD 1,330 million in the previous year[31]. - Profit attributable to the company was approximately HKD 177 million, down from HKD 615 million, a decrease of HKD 438 million[31]. - The company reported a total comprehensive income of HKD 39,561,000, down 91.7% from HKD 478,957,000[148]. - The company experienced a decrease in profit before tax, reporting HKD 199,473,000 compared to HKD 737,030,000 in the prior year[157]. User Growth and Market Expansion - User data indicates a rise in active users, with a 20% increase year-over-year, reaching 500,000 active users by the end of the fiscal year[19]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in sales from this region over the next two years[22]. - A strategic acquisition of a local competitor is expected to be finalized by Q3 2024, which is anticipated to enhance market share by 15%[21]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.1 billion HKD, driven by new product launches and market expansion[20]. Investment and Development - Investment in new product development has increased by 25%, with a focus on enhancing the capabilities of LCD and CTP technologies[21]. - Research and development expenditure has been increased to 100 million HKD, focusing on innovative technologies in display solutions[19]. - The company plans to focus on new product development in industrial and medical applications, aiming to increase product value and customer wallet share[26]. - The company aims to enhance its investor relations efforts, with plans to host quarterly updates and increase transparency in financial reporting[22]. Financial Position and Liquidity - The current liquidity ratio is 1.6, down from 2.3 in the previous year, indicating a tighter liquidity position[47]. - Total assets as of March 31, 2024, are approximately HKD 2,907,000,000, with liabilities of HKD 406,000,000 and total equity of HKD 2,501,000,000[47]. - Cash and cash equivalents decreased from HKD 300,313 thousand in 2023 to HKD 152,867 thousand in 2024, a decrease of approximately 49.1%[149]. - The company has maintained sufficient cash reserves to meet operational needs and future growth, with no fixed dividend payout ratio established[88]. Shareholder and Governance Matters - The board has proposed a final dividend of HKD 0.05 per share for the year ending March 31, 2024, consistent with the previous year's final and special dividends[52]. - The company intends to repurchase up to 96,011,400 shares, representing 10% of the total shares issued as of the 2023 annual general meeting date, to enhance shareholder value[55]. - The board emphasizes the importance of corporate governance and has adopted measures to maintain high standards, complying with the relevant codes[57]. - The company has established a remuneration committee to formulate remuneration policies, which require shareholder approval at the annual general meeting[115]. Risk Management and Compliance - The company faces risks from geopolitical tensions, high interest rates, and labor shortages, which may impact its operational costs and profitability[41]. - The company has established a risk management policy aimed at managing risks rather than eliminating them, with a focus on identifying and mitigating significant operational risks[84]. - The company has implemented measures to ensure compliance with insider trading regulations, including raising awareness of confidentiality and issuing trading restrictions for directors and employees[86]. Audit and Internal Control - The audit committee is responsible for reviewing interim and annual financial statements before submission to the board[81]. - The company has appointed an independent internal control consultant to conduct regular internal audits, focusing on the effectiveness of major internal controls[84]. - The board reviewed the effectiveness of the internal control and risk management systems during the year and deemed them robust enough to protect the interests of shareholders, customers, and employees[86]. Share Repurchase and Incentive Plans - The company repurchased a total of 28,306,000 shares at a total cost of HKD 83,812,580 during the fiscal year ending March 31, 2024[129]. - The share incentive plan allows for a maximum of 101,115,517 shares to be granted, representing 10% of the issued shares as of October 24, 2012[123]. - The plan aims to retain and attract qualified personnel to support the company's ongoing operations and long-term business goals[123]. Financial Reporting and Standards - The financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards, reflecting a true and fair view of the group's financial position as of March 31, 2024[138]. - The group has applied the revised Hong Kong Financial Reporting Standards for the first time this year, which clarifies the significance of accounting policy disclosures[168]. - The consolidated financial statements are prepared based on the going concern basis, indicating the group has sufficient resources to continue operations[172].
亿都(国际控股)(00259) - 2024 - 年度财报