Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of HKD 180,995 thousand, an increase from HKD 168,700 thousand in the previous year, representing a growth of approximately 7.66%[1] - The gross profit for the fiscal year was HKD 35,691 thousand, compared to a gross loss of HKD 18,251 thousand in the previous year, indicating a significant turnaround[1] - The operating loss decreased to HKD 2,636 thousand from HKD 45,119 thousand in the previous year, showing an improvement of approximately 94.16%[1] - The company reported a loss before tax of HKD 4,054 thousand, a substantial improvement from a loss of HKD 46,336 thousand in the previous year[9] - The total comprehensive loss for the year was HKD 9,847 thousand, down from HKD 44,451 thousand, indicating a significant reduction in losses[9] - The basic and diluted loss per share improved to HKD 3.16 from HKD 9.96, reflecting better performance[9] - The group reported a pre-tax loss of HKD 4,054,000 in 2024, significantly improved from a loss of HKD 46,336,000 in 2023[47] - The group incurred a net loss attributable to shareholders of HKD 15,507,000 in 2024, compared to a loss of HKD 44,380,000 in 2023, indicating a reduction in losses by approximately 65%[52] - The group reported a loss of approximately HKD 7,840,000 for the year, a decrease of about HKD 36,540,000 from the previous year's loss of approximately HKD 44,380,000[102] Revenue Breakdown - Total revenue for the year ended March 31, 2024, was HKD 180,995,000, with sales from the electronic beauty products segment contributing HKD 115,060,000 and the information technology services segment contributing HKD 65,935,000[17] - The electronic beauty products segment reported a loss of HKD 16,336,000, while the information technology services segment generated a profit of HKD 15,597,000, resulting in an overall loss of HKD 739,000[17] - Revenue from the Electronic Beauty Products segment decreased from HKD 38,095,000 in 2023 to HKD 30,376,000 in 2024, a decline of approximately 20%[40] - The revenue from Information Technology Services reached HKD 41.8 million, marking a 100% increase from no revenue reported in 2023[59] - The total revenue for the year was HKD 145.3 million, down 22.3% from HKD 187.0 million in the previous year[59] - The Information Technology Services segment generated revenue of HKD 65.9 million, a 100% increase from the previous year[101] Assets and Liabilities - The total assets of the company increased to HKD 130,650 thousand from HKD 60,761 thousand, reflecting a growth of approximately 114.38%[3] - The cash and cash equivalents rose significantly to HKD 39,942 thousand from HKD 8,878 thousand, indicating a strong liquidity position[3] - The net asset value of current assets increased to HKD 30,751 thousand from HKD 16,684 thousand, representing an increase of approximately 83.93%[3] - The total assets for the electronic beauty products segment were HKD 90,764,000, while the information technology services segment had total assets of HKD 58,171,000, leading to a combined total of HKD 148,935,000[36] - Total liabilities for the electronic beauty products segment were HKD 78,088,000, and for the information technology services segment, they were HKD 18,255,000, resulting in total liabilities of HKD 96,343,000[36] - The net debt-to-equity ratio increased to approximately 3.5% as of March 31, 2024, compared to a net cash-to-equity ratio of about 0.4% in 2023, primarily due to increased borrowing[132] Segment Performance - The group has two reportable segments, with the information technology services segment providing services in China, indicating a focus on market expansion[15] - The electronic beauty products segment saw a significant gross profit increase of 163.3%, with a gross profit margin of 10.0% compared to a loss margin of (10.8%) in the previous year[124][140] - The information technology services segment generated new revenue of HKD 24,100,000, achieving a gross profit margin of 36.7%[124][140] - The company recorded a loss of HKD 16.3 million in the Electronic Beauty Products segment, an improvement of 58.7% from a loss of HKD 39.5 million in 2023[81] - The Information Technology Services segment reported a profit of HKD 15.6 million, a 100% increase from no profit reported in the previous year[81] Operational Highlights - The group aims to explore opportunities to expand and diversify its business activities to create new revenue sources and maximize returns for the company and its shareholders[92] - The group has maintained a commitment to enhancing product competitiveness and strengthening research and development capabilities to increase market share[107] - The company plans to continue exploring opportunities in regions outside Europe, including South America and Asia, while implementing strict cost control measures to maintain profit margins[72] - The group experienced inventory surplus among some major customers due to low market demand, impacting performance[112] Compliance and Governance - The company has taken sufficient measures to ensure compliance with corporate governance standards throughout the year[169] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2023, which did not result in significant changes to the financial statements[32] Future Outlook - The company plans to expand its service offerings in big data, artificial intelligence, and smart city solutions to increase market share[151] - The company will change its English name to "China In-Tech Limited" effective January 12, 2024[154] - The company has applied for the resumption of trading of its shares on July 25, 2024[173] Miscellaneous - The group has not recommended the declaration of a final dividend for the current year[89] - The group has no assets pledged as collateral as of the current year and the previous year[87] - There have been no significant investments, acquisitions, or disposals of subsidiaries, joint ventures, or associates during the year[152] - The annual report for the year will be published on the company's website and sent to shareholders in due course[172]
中国智能科技(00464) - 2024 - 年度业绩