Financial Performance - The Group reported a significant increase in revenue for the year ended 31 March 2024, achieving a total of HKD 150 million, representing a growth of 25% compared to the previous year[18]. - The Group's revenue for the year ended 31 March 2024 was approximately HK$54.4 million, representing an increase of approximately 25.9% from HK$43.2 million for the year ended 31 March 2023[36]. - The gross profit margin improved to 40%, up from 35% in the previous year, reflecting better cost management and operational efficiencies[18]. - The gross profit margin improved from approximately 30.2% in 2023 to approximately 46.3% in 2024, with gross profit increasing from approximately HK$13.0 million to approximately HK$25.2 million[42]. - The Group incurred a net loss of approximately HK$15.6 million for the year ended March 31, 2024, a decrease from a net loss of approximately HK$24.2 million for the year ended March 31, 2023[54]. - As of March 31, 2024, the Group had approximately HK$3.8 million in bank and cash balances, down from approximately HK$17.9 million as of March 31, 2023[60]. User Growth and Market Expansion - User data showed a 30% increase in active users, reaching 1.2 million by the end of the reporting period[18]. - The Company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[18]. - The Group plans to enhance its marketing capabilities and expand its product portfolio to increase market share in Hong Kong and Macau[22]. - The Group aims to become one of the active biometrics identification solutions providers in the PRC through various strategic initiatives[99]. Research and Development - Investment in research and development increased by 15%, totaling HKD 10 million, focusing on innovative technologies and product enhancements[18]. - The Group is focusing on research and development of touchless biometrics identification devices and AIoT technologies[22]. - The Group plans to focus on research and development of touchless biometrics identification devices and AIoT, reallocating part of the net proceeds from the Listing for this purpose[65]. - Approximately HK$6.8 million was allocated for research and development on touchless biometrics identification devices and AIoT, fully utilized as of March 31, 2024[103]. Corporate Governance - The Company is committed to enhancing its corporate governance practices, with a new compliance officer appointed to oversee regulatory adherence[18]. - The company is focused on expanding its market presence and enhancing corporate governance through experienced leadership[117][131]. - The company is committed to maintaining high standards of conduct and performance oversight through independent directors like Mr. Chung[131]. Leadership and Management - The company has appointed new directors, including Mr. Wang and Ms. Zhang, to strengthen its leadership team[116][118]. - The Group's financial controller and company secretary, Mr. Chou, has over 20 years of experience in accounting and auditing, enhancing the financial oversight of the Group[159]. - Mr. Wong has been the chief financial officer of Intelligent Living Application Group Inc. since June 2020[138]. Environmental, Social, and Governance (ESG) - The Group aims to establish a robust environmental, social, and governance (ESG) structure in accordance with the GEM Listing Rules[164]. - The ESG report covers the Group's overall performance in environmental and social aspects for the period from April 1, 2023, to March 31, 2024[165]. - The Group emphasizes quantitative measures in its ESG reporting, providing comparative data and methodologies used[171]. - The Group has identified key ESG issues including anti-discrimination, talent management, and customer satisfaction as high importance to its operations[182]. - The Group aims to reduce carbon footprints and promote waste reduction, setting targets for environmental performance[191]. Financial Management and Expenditures - Staff costs for the year ended 31 March 2024 were approximately HK$34.2 million, an increase of approximately HK$3.4 million compared to the previous year[43]. - Administrative expenses rose to approximately HK$33.4 million for the year ended 31 March 2024, an increase of approximately HK$4.7 million from the previous year[44]. - The Group purchased property, plant, and equipment totaling approximately HK$2.4 million for the year ended March 31, 2024, compared to approximately HK$1.6 million in 2023[73]. - The Group did not recommend the payment of a final dividend for the year ended March 31, 2024[88]. Operational Efficiency - The Group's cost of inventories sold increased by approximately 42.0% to approximately HK$20.3 million for the year ended 31 March 2024[42]. - The Group has observed a market trend shift towards touchless biometrics identification devices due to increased public health awareness since the COVID-19 pandemic[66]. - The Group's total greenhouse gas emissions for the year were 117,694 kg, an increase from 96,794 kg in 2023, with a density of 56.0 KgCO2e/m2 compared to 46.0 KgCO2e/m2 in the previous year[196].
懒猪科技(08379) - 2024 - 年度财报