Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of HKD 180,995,000, an increase of approximately 7.3% from HKD 168,700,000 in the previous year[7]. - The gross profit margin improved to 19.7%, compared to a gross loss margin of (10.8%) in the previous year[7]. - The net loss for the year was HKD 7,840,000, a significant reduction of about 82.4% from a net loss of HKD 44,380,000 in the prior year[11]. - The company recorded total revenue of approximately HKD 181.0 million for the year ended March 31, 2024, representing a 7.3% increase from HKD 168.7 million in 2023[18]. - The gross profit for the year was approximately HKD 35.7 million, a significant increase of 295.1% compared to a gross loss of HKD 18.3 million in 2023[21][22]. - Basic loss per share improved to HKD 0.0316, a decrease of 68.3% from HKD 0.0996 in the previous year[28]. Cash and Assets - The company’s cash and bank balances increased to HKD 39,942,000, up from HKD 8,878,000 in the previous year[7]. - The net asset value per share decreased to HKD 5.14 from HKD 5.83 in the previous year[7]. - The net current assets as of March 31, 2024, were approximately HKD 30,751,000, up from HKD 16,684,000 in 2023[38]. - The group's bank credit facilities totaled HKD 72,877,000 as of March 31, 2024, compared to HKD 53,400,000 in 2023, with approximately HKD 35,277,000 utilized[39]. - The net debt-to-equity ratio as of March 31, 2024, was approximately 3.5%, an increase from 0.4% in 2023, primarily due to increased borrowings[39]. Business Operations - Revenue from the electronic hair products segment decreased by approximately 31.8% to HKD 115,060,000 due to slow global economic growth and weak consumer sentiment[10]. - Revenue from the electronic hair care products segment decreased by 31.8% to HKD 115.1 million, while the information technology services segment generated HKD 65.9 million, a 100% increase[18][19]. - The cost of sales decreased by 22.3% to HKD 145.3 million, with the electronic hair care products segment's cost dropping by 44.6%[20]. - The company aims to enhance operational efficiency and explore new market opportunities to increase market share amid economic challenges[13]. - The company plans to continue identifying potential investment opportunities to diversify its business and create new revenue streams[13]. Dividends - The company will not declare a final dividend for the fiscal year[12]. - The company has not declared or paid any dividends for the year, consistent with the previous year[29]. - The company’s dividend declaration and payment will be subject to the board's discretion and shareholder approval, adhering to applicable laws and regulations[198]. Corporate Governance - The company has established a corporate governance framework to enhance accountability, transparency, and fairness towards shareholders and stakeholders[126]. - The board consists of six members, with three executive directors and three independent non-executive directors, ensuring a balanced composition[149]. - The company has maintained compliance with the corporate governance code throughout the fiscal year ending March 31, 2024[143]. - The company has established a remuneration committee, nomination committee, and audit committee to provide recommendations on specific matters[150]. - The independent non-executive directors confirmed their independence in accordance with the listing rules[149]. Risk Management - The company has established a robust internal control and risk management framework, which includes defined responsibilities, effective risk assessment policies, and procedures for financial monitoring[191]. - The company monitors liquidity risk daily to ensure sufficient funds for operations, capital commitments, and loan repayments[188]. - The company faces interest rate risk primarily from floating-rate bank loans, with adequate internal controls in place to monitor financial condition risks arising from market interest rate fluctuations[186]. - Credit risk is managed through internal monitoring functions that assess credit limits and terms for customers, ensuring timely recovery of overdue debts[189]. - The company has engaged external independent professionals to review and enhance its risk management and internal control systems[193]. Shareholder Information - As of March 31, 2024, major shareholders include Zhongyun Capital Limited and China Investment International Limited, each holding approximately 252,132,500 shares, representing 47.29% of the issued shares[89]. - Luckever Holdings Limited, controlled by Liu Xuezhong and Li Yuelan, holds 252,188,500 shares, accounting for 47.30% of the issued shares[89]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting[178]. Environmental Commitment - The company has achieved ISO 14001:2004 certification for its environmental management system at its production base in Dongguan, China, emphasizing its commitment to environmental sustainability[123]. - The company is committed to environmental principles of reduction, reuse, and recycling to achieve effective resource utilization and waste reduction[123].
中国智能科技(00464) - 2024 - 年度财报