Financial Performance - The company reported a total revenue of HKD 273,889,000 for the fiscal year ending March 31, 2024, compared to HKD 176,803,000 in the previous year, representing a year-over-year increase of 55%[5]. - The gross loss for the year was HKD 36,474,000, an improvement from a loss of HKD 51,752,000 in the previous year, indicating a reduction in losses by approximately 29%[5][14]. - The total comprehensive expenses for the year amounted to HKD 37,831,000, down from HKD 46,696,000 in the previous year, reflecting a decrease of about 19%[3][16]. - The basic and diluted loss per share improved to HKD (13.66) from HKD (18.97) in the previous year, reflecting a positive trend in loss per share[5]. - The company reported a loss attributable to shareholders of approximately HKD 36,531,000 as of March 31, 2024[21]. - The company's loss for the year was HKD 36,531,000, a decrease from HKD 50,721,000 in the previous year, representing a reduction of approximately 28.5%[79]. - The group reported a pre-tax loss of HKD 51,752,000 for the year, with a total loss of HKD 51,752,000[43][44]. Liquidity and Financial Position - The company’s current liabilities net value improved to HKD (54,976,000) from HKD (168,453,000) in the previous year, showing a significant enhancement in liquidity[8]. - The company’s cash and bank balances decreased to HKD 127,000 from HKD 9,156,000 in the previous year, indicating a liquidity challenge[8]. - The company’s total assets less current liabilities showed a reduction in deficit to HKD (54,913,000) from HKD (164,932,000), indicating improved financial stability[8]. - As of March 31, 2024, the company recorded current liabilities net worth of approximately HKD 54,976,000 and net debt of approximately HKD 240,288,000[21]. - The company has drawn loans of approximately HKD 13,679,000 and secured undrawn loan financing of approximately HKD 186,321,000 from its ultimate holding company[21]. - The company has received undrawn loan financing of approximately HKD 100,000,000 from the chairman, who agreed not to cancel this financing until all other third-party debts are settled[23]. - The company has a commitment from a related company to defer the settlement of trade and other payables amounting to approximately HKD 3,915,000 until all other third-party debts are repaid[23]. - The board believes the company will have sufficient cash resources to meet its operational and financing needs for the next twelve months[21]. - The company reported financial costs of HKD 26,403,000 for the period[34]. - The company has a total of HKD 49,117,000 in total liabilities, down from HKD 79,311,000 in the previous year, indicating a reduction in financial obligations[93]. Strategic Plans and Growth - The company plans to pursue strategic acquisitions to gain new business opportunities in the Chinese market and strengthen its revenue and profit base[12]. - The company is actively seeking growth projects for acquisition or investment, indicating a focus on expansion and market penetration[12]. - The group plans to raise sufficient funds through discussions with potential investors to ensure continued operations[35]. - The group aims to enhance operational efficiency by standardizing procedures and simplifying processes while closely monitoring global economic trends for business opportunities[119]. - The company plans to conduct fundraising activities, such as share placements or loan capitalizations, to strengthen and improve its financial position[128]. - The management continues to enhance operational efficiency in the sales and integrated services segment through stringent project selection and cost control measures[135]. Operational Segments - The group has identified two operating segments: sales and integrated services, and general trading, which are regularly reviewed by the chief operating decision-maker[38][39]. - The sales and integrated services segment generated revenue of HKD 31,933,000, while the general trading segment contributed HKD 241,956,000[53]. - The group’s revenue from customer B accounted for 39% of general trading revenue, increasing from 25% in the previous year[65]. Accounting and Compliance - The company has adopted new accounting standards that do not have a significant impact on its financial position or performance[25]. - The group has adopted new and revised Hong Kong Financial Reporting Standards effective for the current year[36]. - The company has adopted the Corporate Governance Code and confirmed compliance with its provisions as of March 31, 2024[140]. Employee and Management - As of March 31, 2024, the group has a total of 10 employees, primarily based in Hong Kong[137]. - The board expresses gratitude to all employees and management for their contributions during the year and thanks shareholders and investors for their continued support[147]. Dividend and Shareholder Returns - The company did not recommend the distribution of dividends for the years ending March 31, 2023, and March 31, 2024[86]. - The board has decided not to recommend the payment of a final dividend for the year ending March 31, 2024[134]. Other Financial Metrics - The group recorded a net gain of HKD 2,061,000 from other income[34]. - The group recorded an impairment loss of HKD 7,297,000 on other receivables[42]. - The expected credit loss provision for other receivables was HKD 2,099,000, a decrease from HKD 7,297,000 in the previous year, suggesting improved credit risk management[90]. - The cost of goods sold increased to HKD 272,336,000 from HKD 176,236,000, reflecting a significant rise in operational costs[85]. - Cash and cash equivalents totaled approximately HKD 127,000 as of March 31, 2024, a significant decrease from HKD 9,456,000 in 2023[116]. - The group's total assets amounted to HKD 32,068,000, while total liabilities were HKD 272,356,000 as of March 31, 2023[48]. - The total borrowings of the group were approximately HKD 223,239,000 as of March 31, 2024, a decrease from HKD 229,128,000 in 2023[125]. - The group's current ratio was approximately 0.37 times as of March 31, 2024, compared to 0.32 times in 2023[126]. - The group’s debt-to-asset ratio (excluding cash and cash equivalents) was approximately 695.7% as of March 31, 2024, compared to 270.1% in 2023[116]. Trading and Market Activity - The company has applied for the resumption of trading of its shares on the stock exchange starting from July 30, 2024[146]. - There were no significant acquisitions or disposals during the year ending March 31, 2024[138].
伟俊集团控股-新(01013) - 2024 - 年度业绩