Financial Performance - The Group's revenue from the IRO Business with CRO Services and In-house R&D Business Unit was approximately HK$38.1 million for the Reporting Year, representing an increase of approximately 144.2% compared to HK$15.6 million for the year ended March 31, 2023[22]. - The Group's gross loss in the IRO segment decreased to approximately HK$0.08 million from approximately HK$6.1 million for the year ended March 31, 2023, indicating improved operational efficiency[22]. - The Group's total comprehensive expenses attributable to owners for the Reporting Year were approximately HK$22.3 million, a decrease from approximately HK$45.4 million for the year ended March 31, 2023, primarily due to increased profits in the health products business[26]. - Revenue from womenswear products increased by approximately HK$39.8 million or 13.3% to approximately HK$338.6 million for the Reporting Year from approximately HK$298.8 million for the year ended 31 March 2023, driven by an increase in sales volume from approximately 3.3 million pieces to approximately 4.0 million pieces[31]. - Revenue from menswear products increased by approximately HK$48.8 million or 70.7% to approximately HK$117.8 million for the Reporting Year from approximately HK$69.0 million for the year ended 31 March 2023, attributed to an increase in sales quantity from approximately 1.0 million pieces to approximately 1.5 million pieces[62]. - Revenue from kidswear products decreased by approximately HK$3.2 million or 23.4% to approximately HK$10.5 million for the Reporting Year from approximately HK$13.7 million for the year ended 31 March 2023, due to a decrease in sales volume from approximately 0.3 million pieces to approximately 0.2 million pieces[34]. - Revenue from the Healthcare Products Business increased by approximately HK$83.7 million or 150.0% to approximately HK$139.5 million for the year ended 31 March 2024 from approximately HK$55.8 million for the year ended 31 March 2023, primarily due to the acquisition of R&E and its subsidiary[36]. - Other income, gains and losses increased by approximately HK$12.2 million to a gain of HK$11.9 million for the year ended 31 March 2024 from a loss of approximately HK$0.3 million for the year ended 31 March 2023, mainly due to a fair value gain on promissory note of approximately HK$16.1 million related to the acquisition of 65% equity interests in R&E[39]. - Selling and distribution expenses increased by approximately HK$15.0 million or 44.4% to approximately HK$48.8 million for the year ended 31 March 2024 from approximately HK$33.8 million for the year ended 31 March 2023, attributed to increased transportation costs and selling expenses[40]. - The Group's gross profit improved to approximately HK$69.7 million for the Reporting Year, representing an increase of approximately 12.8% compared to approximately HK$61.8 million for the year ended 31 March 2023[94]. - The gross profit margin decreased to approximately 14.9% for the Reporting Year from approximately 16.2% for the year ended 31 March 2023, mainly due to a decrease in average selling price per piece[94]. - The gross profit in the Healthcare Products Business increased to approximately HK$29.6 million for the year ended 31 March 2024 from approximately HK$12.2 million for the year ended 31 March 2023, representing an increase of approximately 142.6%[94]. - The Company's basic loss per share for the year ended 31 March 2024 was approximately HK4.41 cents, a significant decrease from approximately HK9.15 cents for the year ended 31 March 2023[101]. Operational Efficiency - The Group's knitwear product sales volume increased to approximately 5.7 million pieces for the Reporting Year, up from approximately 4.6 million pieces for the year ended March 31, 2023[29]. - The Group's total sales volume of finished knitwear products amounted to approximately 5.7 million pieces for the Reporting Year, an increase from approximately 4.6 million pieces for the year ended March 31, 2023[57]. - The average selling price per piece of menswear products increased from approximately HK$71.2 for the year ended 31 March 2023 to approximately HK$79.8 for the Reporting Year[62]. - The average selling price per piece of kidswear products increased from approximately HK$51.8 for the year ended 31 March 2023 to approximately HK$52.7 for the Reporting Year, despite the decrease in sales volume[34]. - Administrative expenses decreased to approximately HK$55.0 million for the year ended 31 March 2024 from approximately HK$63.1 million for the year ended 31 March 2023, representing a significant decrease of approximately 12.8%[73]. - Finance costs increased to approximately HK$7.1 million for the year ended 31 March 2024 from approximately HK$5.8 million for the year ended 31 March 2023[73]. Financial Position - The Group's current assets net value as of 31 March 2024 was approximately HK$6.9 million, down from approximately HK$101.5 million as of 31 March 2023, with a current ratio decreasing from approximately 1.9 to 1.0[78]. - The Group's gearing ratio was 0.08 as at 31 March 2024, up from 0.03 as at 31 March 2023[80]. - The Group has capital commitments of JPY50 million (approximately HK$2.6 million) as at 31 March 2024, unchanged from JPY50 million (approximately HK$2.9 million) as at 31 March 2023[85]. - The maximum liabilities of the Group under a legal action were in the amount of HK$5,280,000 as of 31 March 2024, with no other material contingent liabilities reported[85]. - The Group does not recommend the payment of a final dividend for the year ended 31 March 2024, consistent with the previous year[75]. - The Group's operations were generally financed through internally generated cash flows and bank borrowings, with plans to seek additional equity financing if necessary[75]. - The Group currently has no plans for material investments and capital assets[85]. - As of March 31, 2024, the Group's total staff costs amounted to approximately HK$54.3 million, a decrease from HK$55.1 million in 2023[89]. - The Group employed a total of 136 full-time employees as of March 31, 2024, unchanged from the previous year[89]. - The Group had net current assets of approximately HK$6.9 million as at 31 March 2024, down from HK$101.5 million as at 31 March 2023[103]. - The Group's current ratio decreased from approximately 1.9 as at 31 March 2023 to approximately 1.0 as at 31 March 2024, due to a significant increase in current liabilities by approximately 78.0%[103]. - The Group's debt-to-equity ratio was 0.08 as at 31 March 2024, compared to 0.03 as at 31 March 2023[106]. - The Group's unused bank financing rate was 63.1% as at 31 March 2024[106]. - The Group will continue to seek fundraising opportunities to strengthen its financial position[106]. Strategic Initiatives - The Group acquired Biotube Co., Ltd., a company engaged in physician-led clinical trials, which aligns with the Group's development areas and enhances its innovative research capabilities[12]. - The Group aims to provide a one-stop solution to academia, biotech ventures, and pharmaceutical companies in Japan and the PRC, leveraging its extensive knowledge in drug development support[19]. - The Group is coordinating industry resources to improve margins in its PRC specialized CRO business, which is becoming increasingly competitive[22]. - The Group's new strategies include enhancing its innovative research capabilities through acquisitions and improving operational margins through resource coordination[12][22]. - The Group has integrated and launched businesses in the healthcare segment, expanding its services to include comprehensive solutions in Japan[92]. - The Group aims to maintain good relationships with existing clients while proactively acquiring new customers by upgrading facilities and enhancing competitive strengths[91]. - The healthcare segment has expanded its services to include IRO and CRO business, enhancing new drug development support in Japan[135]. - The newly acquired subsidiary Biotube owns pipelines under ongoing investigator-initiated clinical trials, expected to create synergy effects for the Group[186]. - The Group aims to enhance necessary functions step by step towards creating a business co-creation platform to meet diverse needs in the healthcare industry[186]. Management and Governance - Mr. Shimada was appointed as the executive Director, Chairman, and CEO effective from November 1, 2023, bringing over 39 years of pharmaceutical experience[163]. - Mr. Miyano has over 32 years of experience in the domestic pharmaceutical industry in Japan and has been with EPS Japan since January 2002[166]. - Mr. Zhao, appointed as an executive Director from November 1, 2023, has over 32 years of experience in accounting, auditing, corporate finance, and mergers and acquisitions[166]. - Mr. Kusaba joined EPS Holdings in March 2022 and has extensive experience in business development and investment management[168]. - Mr. Yan Ping was appointed as a non-executive Director effective from November 1, 2023, with extensive experience in the biomedical industry in China[171]. - EPS Japan is a controlling shareholder of the Company, with Mr. Yan Hao indirectly owning approximately 71.51% of EPS Japan[171]. - The Company is focused on expanding its market presence and enhancing its product offerings through strategic appointments in senior management[166]. - The management team has a strong background in both domestic and international pharmaceutical markets, which is expected to drive future growth[166]. - The Company is committed to leveraging its leadership's extensive experience to explore new business opportunities and partnerships[171]. - The recent appointments are part of a broader strategy to strengthen governance and operational capabilities within the Company[166]. Environmental Commitment - The Group is committed to minimizing environmental impacts through energy saving and recycling initiatives[90]. - The Group promotes environmental protection by encouraging the use of electronic document processing to minimize paper use[131]. - The temperature of the air-conditioning system is set between 25˚C to 26˚C to enhance energy efficiency[131]. - The Group has implemented measures to maintain or reduce the intensity of air pollutants emissions[128]. - The total GHG emissions (Scope 1 and 2) increased by 31% to 67,353 kg CO2e compared to the previous reporting period[158]. - Scope 2 emissions rose by 32% to 65,992 kg CO2e, primarily due to changes in the reporting scope[158]. - Electricity consumption increased by 32% to 160,758 kWh, attributed to a change in the reporting scope[140]. - The intensity of GHG emissions per square meter increased by 14% to 32 kg CO2e/m²[158]. - The Group aims to reduce air pollutant emissions by 1-2% in the coming year[151]. - The Group's nitrogen oxides (NOx) emissions decreased by 13% to 0.33 kg[151]. - The Group generated no significant hazardous waste due to its business nature, reflecting a low environmental impact[161]. - The intensity of electricity consumption in Hong Kong offices increased by 16% to 73 kWh/m²[140]. - The Group's sulphur oxides (SOx) emissions remained stable at 0.01 kg[151]. - Non-hazardous waste for recycling purposes increased to 5.30 tonnes, a 221% increase compared to the previous year[122].
EPS创健科技(03860) - 2024 - 年度财报