Economic Outlook - The domestic tourism market is projected to continue its growth trajectory, with key trends including short-distance and self-driving travel, as well as rural and nature-based tourism [18]. - Demand for agricultural and forestry products has remained weak due to sluggish consumer spending amid the ongoing economic downturn [22]. - The ongoing geopolitical tensions and rising inflationary pressures are identified as significant market risk factors for 2024, potentially impacting economic growth [28]. - The economic outlook for 2024 indicates challenges due to international tensions, but China's commitment to reforms offers growth hope [52]. Financial Performance - For the year ended 31 March 2024, revenue from intelligent advertising and railroad media services was approximately HK$73,116,000, a decrease of 48.6% from HK$142,228,000 in 2023 [48]. - Revenue from the sales of agricultural, forestry, and consumer products was approximately HK$1,961,000, down 89.3% from HK$18,316,000 in 2023 [49]. - For the year ended 31 March 2024, revenue from supply-chain products was zero, compared to HK$846,000 in 2023 [51]. - The property business generated approximately HK$989,000 from short-term leasing in 2024, down from HK$1,140,000 in 2023 [52]. - As of 31 March 2024, the Group's cash and bank deposits amounted to approximately HK$8,160,000, a decrease of about 25% from HK$10,882,000 in 2023 [59]. - The Group's net current liabilities were approximately HK$62,293,000 as of 31 March 2024, compared to HK$60,840,000 in 2023 [59]. Strategic Initiatives - The Group is exploring investment opportunities in the traditional Chinese medicine industry to penetrate the mass market and unlock additional growth potential [24]. - The Group is diversifying applications of its proprietary Big Data and AI platforms to identify new growth opportunities and enhance revenue streams [47]. - The Group is exploring high-tech ventures such as blockchain and Web 3.0 projects to open new market possibilities [51]. - The Group aims to expand its car trading business by building a robust global network and forming strategic partnerships with suppliers and distributors [51]. - The Group plans to expand the application of its AI technology platform and high-speed railroad media resources to develop new business lines [52]. Risk Management - The Group is closely monitoring foreign currency exchange rate fluctuations and will consider hedging significant foreign exchange risks as necessary [65]. - The Group has implemented internal control policies to safeguard assets and manage financial risks effectively [135]. - No significant risk and control deficiencies were identified in the internal control review conducted by an independent professional firm [164]. Corporate Governance - The Group is committed to compliance with all significant laws and regulations affecting its operations, ensuring adherence to the highest standards [31]. - The Audit Committee reviewed the financial results and internal control procedures, holding six meetings during the year ended March 31, 2024 [83]. - The Group's corporate governance practices comply with the Corporate Governance Code throughout the year ended March 31, 2024, enhancing transparency in material information disclosure [71]. - The Remuneration Committee is responsible for reviewing and determining the remuneration policy for directors and senior management, ensuring it attracts and retains competent staff [83]. - The Company has adopted a board diversity policy to enhance diversity in terms of gender, age, cultural background, and professional experience [113]. Future Plans - The Group remains focused on enhancing its long-term profitability and sustainable development despite economic challenges [53]. - The Directors believe that the Group will have sufficient working capital to continue as a going concern, supported by the successful implementation of measures to improve operational cash flow and monitor operating expenses [68]. - The Group aims to achieve net-zero targets by 2040, with strategies including the provision of low-carbon products and improving energy efficiency [183]. - The Group will continue to implement plans to better manage working capital and improve its financial position in 2024-2025 [177]. Human Resources - As of March 31, 2024, the Group had approximately 100 employees, an increase from 65 employees in 2023 [92].
世大控股(08003) - 2024 - 年度财报