Financial Performance - For the fiscal year ending April 30, 2024, the total revenue decreased to HKD 82,405,000 from HKD 145,960,000, representing a decline of approximately 43.5%[5] - The gross profit increased to HKD 50,740,000 compared to HKD 47,848,000 in the previous year, showing an increase of about 6.0%[5] - The total comprehensive loss for the year was HKD 12,230,000, compared to HKD 106,438,000 in the previous year, reflecting a significant improvement of about 88.5%[9] - The company reported a loss from continuing operations of HKD 11,147,000, an improvement from a loss of HKD 105,320,000 in the previous year[5] - The company reported a loss of HKD 11,147,000 for the year ended April 30, 2024, compared to a loss of HKD 112,384,000 for the previous year, indicating an improvement in performance[14] - The total comprehensive expenses for the year amounted to HKD 12,230,000, which includes a fair value loss of HKD 1,083,000[14] - The accumulated losses increased to HKD 473,264,000 as of April 30, 2024, from HKD 462,117,000 as of April 30, 2023, reflecting a rise of approximately 2.5%[14] - The company recorded a consolidated after-tax loss of approximately HKD 11,147,000 for the year ending April 30, 2024, with cash and bank balances of HKD 18,480,000 insufficient to cover all current liabilities due within the next twelve months[26] - The company recorded a total revenue decrease of approximately HKD 82,400,000, representing a 44% decline compared to the previous year[73] - The net loss attributable to the owners of the company for the year was approximately HKD 11,100,000, a significant reduction of about HKD 94,200,000 from the previous year[73] Assets and Liabilities - The net asset value decreased to HKD 383,877,000 from HKD 396,107,000, a decline of approximately 3.1%[13] - The total current assets decreased to HKD 333,940,000 from HKD 534,535,000, a decline of approximately 37.5%[11] - The total liabilities increased to HKD 197,362,000 from HKD 174,893,000, an increase of about 12.8%[13] - As of April 30, 2024, the total equity attributable to the company's owners is HKD 383,877,000, a decrease from HKD 396,107,000 as of April 30, 2023, representing a decline of approximately 3.1%[14] - The company's total assets as of April 30, 2024, were approximately HKD 582,000,000, compared to HKD 575,600,000 on April 30, 2023[99] - The company's debt-to-equity ratio increased to approximately 38.8% from 31.5% in the previous year, indicating a rise in financial leverage[102] Revenue Sources - Revenue from customer contracts for construction and related services decreased to HKD 36,812,000 in 2024 from HKD 103,413,000 in 2023, representing a decline of approximately 64.4%[28] - Total revenue from continuing operations was HKD 82,405,000 for the year ending April 30, 2024, down from HKD 145,960,000 in 2023, indicating a decrease of about 43.4%[28] - The construction and related services segment generated external revenue of HKD 36,812,000, while the lending business contributed HKD 45,593,000[33] - Total revenue from external customers for the year ended April 30, 2023, was HKD 145,960,000, with contributions of HKD 103,413,000 from construction services and HKD 42,547,000 from lending business[34] - The lending business generated revenue of approximately HKD 45,600,000 this year, up from HKD 42,500,000 in the previous year[86] Expenses and Costs - The operating and administrative expenses were reduced to HKD 18,271,000 from HKD 27,440,000, a decrease of about 33.4%[5] - The financing costs increased to HKD 8,588,000 from HKD 7,147,000, representing an increase of approximately 20.2%[5] - The total tax expense for 2024 is HKD (5,906,000), compared to HKD 487,000 in 2023, reflecting a substantial increase in tax liabilities[48] - Employee costs for the year amounted to approximately HKD 17,100,000, a decrease from HKD 36,100,000 in the previous year[125] Credit Losses and Provisions - The expected credit loss recognized under the expected credit loss model was HKD 24,409,000, down from HKD 92,865,000, indicating a reduction of approximately 73.7%[5] - The expected credit loss impairment for loans and interest recognized in 2024 is HKD 24,038,000, a decrease from HKD 84,555,000 in 2023, indicating a significant reduction in credit risk[46] - The credit loss provision for accounts receivable was HKD 264,089,000 as of April 30, 2024, compared to HKD 240,051,000 in 2023[60] - The expected credit loss provision for receivables and interest was approximately HKD 264.1 million, up from HKD 240.1 million in 2023, with a net impairment loss of approximately HKD 24 million, down from HKD 84.6 million in 2023[103] Business Operations - The company’s main business includes scaffolding, fit-out services, lending, and securities investment[17] - The company secured 4 new construction contracts during the year, compared to 2 in the previous year[75] - The company provided scaffolding services for 44 ongoing projects, with 12 completed on schedule during the year[76] - The company is adapting to market trends by shifting from bamboo scaffolding to iron scaffolding, which is expected to dominate the future scaffolding business[94] - The company aims to diversify its business scope and actively explore suitable investment opportunities to drive overall business development[95] Compliance and Governance - The audit committee consists of two independent non-executive directors, responsible for reviewing the group's financial reporting and risk management[129] - The group has not used any financial instruments for hedging purposes during the year and has no unexercised hedging instruments as of April 30, 2024[115] - The group will continue to review investment strategies and take appropriate actions in response to market changes[112] Employee and Workforce - The group has a total of 43 full-time employees as of April 30, 2024, down from 50 employees the previous year[125] - The group emphasizes the importance of attracting, training, and retaining skilled personnel for its growth[123]
汇隆控股(08021) - 2024 - 年度业绩