Financial Performance - The company's revenue increased by 17.8% to approximately HKD 322,246,000 for the year ending March 31, 2024, compared to HKD 273,619,000 for the previous year[12]. - The net loss attributable to shareholders narrowed to approximately HKD 13,402,000, down from a loss of approximately HKD 17,671,000 in the previous year[21]. - Other income and gains decreased to approximately HKD 3,728,000 from HKD 4,422,000, primarily due to the absence of government subsidies under the Employment Support Scheme[20]. - Operating expenses increased by 16.1% to approximately HKD 103,210,000, with subcontracting costs rising by 30.0%[20]. - The cleaning and related services segment recorded a profit of approximately HKD 56,000, while the advertising media segment incurred a loss of approximately HKD 1,787,000[21]. Market and Operational Challenges - The company is facing challenges in the labor market, including rising labor costs and an aging workforce, which may impact future operations[7]. - The competitive landscape has led to some new contracts being secured at lower-than-expected profit margins[8]. - The company remains committed to providing high-quality cleaning services despite pricing pressures in the market[9]. Cash and Asset Management - As of March 31, 2024, the group's cash and cash equivalents totaled approximately HKD 67,372,000, down from HKD 72,204,000 as of March 31, 2023[22]. - The group's net asset value as of March 31, 2024, was approximately HKD 91,753,000, compared to HKD 105,662,000 as of March 31, 2023[23]. - The group's debt-to-equity ratio increased to 3.3% as of March 31, 2024, from 2.8% as of March 31, 2023[23]. - The group has bank financing of HKD 40,000,000 as of March 31, 2024, unchanged from the previous year[24]. Strategic Initiatives - The group aims to expand its market share by focusing on government contract bidding and enhancing pest control services[27]. - The waste management business is expected to benefit from growing demand and supportive global policies, with a favorable operating environment anticipated[29]. - The company is exploring suitable investment opportunities in waste management services[17]. Employee and Workforce Management - As of March 31, 2024, the group employed a total of 1,168 employees, an increase from 1,144 employees in 2023[43]. - Total employee costs amounted to approximately HKD 229,782,000, compared to HKD 198,416,000 in 2023, reflecting an increase of about 15.8%[43]. - Employee compensation is determined based on job nature, experience, and market levels, with performance-based bonuses awarded at discretion[44]. - The employee turnover rate for men rose to 43% in 2024 from 38% in 2023, while for women it increased to 62% from 56%[114]. - The training participation rate for employees reached 123% in 2024, significantly up from 81% in 2023[127]. Environmental, Social, and Governance (ESG) Commitment - The company is committed to sustainable development and aims to operate its business in an economically, socially, and environmentally sustainable manner[59]. - The board of directors plays a key role in overseeing environmental, social, and governance (ESG) matters, ensuring effective risk management and internal control systems are in place[61]. - The company conducts annual materiality assessments to understand stakeholder expectations and concerns regarding ESG issues[64]. - The report emphasizes the importance of transparency and accountability in ESG performance, with management regularly reporting to the board[61]. - The company achieved a reduction in nitrogen oxide emissions from 50.2 kg in 2023 to 31.1 kg in 2024, representing a 38% decrease[83]. Waste and Resource Management - The total amount of non-hazardous waste generated in 2024 was 165.25 tons, a decrease of 40.2% from 276.65 tons in 2023[93]. - Energy consumption decreased significantly from 122,879 kWh in 2023 to 71,081 kWh in 2024, representing a reduction of 42.1%[102]. - The company has set a new target to achieve a 3% reduction in resource consumption by 2029, with 2024 as the baseline year[105]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adhered to the corporate governance code throughout the fiscal year[165]. - The board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[170]. - The company has adopted a self-defined code for securities trading by directors, ensuring compliance with the standards set by the listing rules[167]. - The board will review its structure, size, and composition at least annually to ensure compliance with relevant listing rules[175].
新华通讯频媒(00309) - 2024 - 年度财报