Financial Performance - The group's revenue increased by approximately 27.7% from about HKD 508.5 million in the previous fiscal year to approximately HKD 649.6 million for the fiscal year ending March 31, 2024[13]. - Gross profit rose by approximately 61.4% from about HKD 45.9 million to approximately HKD 74.1 million, with a gross profit margin increasing from 9.0% to 11.4%[14]. - The group recorded a profit attributable to shareholders of approximately HKD 17.6 million for the fiscal year 2024, compared to HKD 8.6 million in fiscal year 2023, representing a significant increase[18]. - As of March 31, 2024, the group had net current assets of approximately HKD 204.0 million, up from HKD 141.6 million as of March 31, 2023[19]. - The total equity attributable to shareholders was approximately HKD 224.1 million as of March 31, 2024, compared to HKD 206.5 million as of March 31, 2023[19]. - The capital debt ratio decreased to approximately 4.9% as of March 31, 2024, down from 29.1% as of March 31, 2023, primarily due to a reduction in lease liabilities[21]. - The total employee costs for the fiscal year 2024 amounted to approximately HKD 142.1 million, compared to HKD 134.1 million for the previous year[25]. Business Outlook - The company is optimistic about future business performance, driven by increasing demand for air freight forwarding services and ongoing service quality improvements[8]. - The management believes that demand for transportation services, including air freight, ground transportation, and warehousing, will gradually recover in the second half of 2024[12]. - The overall economic environment remains challenging due to ongoing geopolitical tensions and the impact of the COVID-19 pandemic[6]. Strategic Initiatives - A new warehouse has been established at the Cainiao Smart Port to capture new business opportunities and reduce costs[8]. - The company plans to continue strategic cost control measures to mitigate the negative impacts of global economic uncertainties[8]. - The company aims to maintain good relationships with existing customers while actively seeking new clients to enhance revenue growth[12]. Corporate Governance - The company has a strong focus on corporate governance, with members of the board being senior members of various accounting and management associations[67][69][70]. - The management team includes professionals with extensive experience in logistics, procurement, and financial management, enhancing the company's operational capabilities[74][75][78]. - The company emphasizes independent judgment in strategy, performance, resources, and ethical standards through its board structure[66][68]. - The company has adopted the principles and code provisions of the Corporate Governance Code as per the Stock Exchange Listing Rules, ensuring compliance throughout the fiscal year 2024[81]. - The board comprises individuals with diverse backgrounds in finance, accounting, and corporate governance, ensuring a well-rounded strategic direction for the company[66][68][71]. Risk Management - The group maintains an effective internal control and risk management system to protect shareholder investments and group assets[137]. - Risk identification and assessment are conducted annually, with detailed records maintained for board and management review[138]. - The audit committee reviewed the internal control system and found it effective and sufficient for the fiscal year 2024[141]. Shareholder Communication - The company has established a shareholder communication policy to ensure timely and unbiased information dissemination to shareholders and potential investors[146]. - The company has a communication policy to ensure effective and continuous communication with shareholders[83]. Dividend Policy - The board proposed a final dividend of HKD 0.02 per share, totaling approximately HKD 20.0 million, which is a new initiative compared to no dividend in the previous fiscal year[32]. - The company will review its dividend policy continuously and retains the discretion to update or modify it at any time[155]. - The annual general meeting is scheduled for September 9, 2024, during which the proposed final dividend will require shareholder approval[158]. Compliance and Ethics - The company has implemented a whistleblowing policy to report any misconduct, reinforcing its commitment to transparency and accountability[81]. - The company has maintained high standards of business ethics and governance across all operations, with training provided to new employees on established standards[89]. - There were no significant violations or non-compliance with applicable laws and regulations during the review year[54]. Employee Development - The company is committed to employee development, workplace safety, and sustainable growth, which fosters a sense of responsibility among employees[90]. - The company has purchased three additional vehicles during the fiscal year 2024 for upgrading existing equipment and acquiring new vehicles[45]. Major Customers and Suppliers - The largest customer accounted for approximately 30% of total revenue, while the top five customers together represented about 81% of total revenue during the fiscal year 2024[183]. - The largest subcontractor accounted for approximately 49% of direct total costs, and the top five suppliers and subcontractors accounted for about 66% of direct total costs during the fiscal year 2024[183].
亚洲实业集团(01737) - 2024 - 年度财报