Financial Performance - The group's revenue for the fiscal year ending March 31, 2024, was approximately HKD 66,390,000, a decrease of about 2.7% compared to HKD 68,260,000 in the previous year[35] - The net loss for the year ended March 31, 2024, was approximately HKD 130,820,000, compared to a net loss of approximately HKD 57,180,000 for the previous year, resulting in a basic loss per share of HKD 0.49[70] - Rental income recorded for the year was approximately HKD 19,740,000[37] - The group incurred a loss primarily due to expected credit losses from receivables amounting to HKD 38,030,000 and valuation losses on investment properties of HKD 7,870,000, with a one-time loss of HKD 57,050,000 due to government land acquisition[47] Expenses and Costs - Administrative expenses for the year were approximately HKD 25,650,000, an increase of about 34% from HKD 16,920,000 in the previous year, attributed to the normalization of business activities[36] - Financing costs for the year were approximately HKD 7,500,000, down from HKD 9,050,000 in the previous year[36] - The group's total auditor fees for the year were approximately HKD 1,092,000, unchanged from the previous year[21] Assets and Liabilities - As of March 31, 2024, the total loan portfolio reached approximately HKD 646,240,000, with an average interest rate of 11.20%, generating interest income of approximately HKD 46,650,000 during the year[72] - The group's bank borrowings as of March 31, 2024, were approximately HKD 78,470,000, a decrease from HKD 86,740,000 in the previous year[87] - The net current assets of the group were approximately HKD 305,490,000 as of March 31, 2024, down from HKD 344,860,000 in the previous year[113] - The total reserves available for distribution to shareholders were approximately HKD 453,401,000 as of March 31, 2024, compared to approximately HKD 491,631,000 in the previous year[111] Risk Management and Compliance - The group maintained effective and adequate risk management and internal control systems as of March 31, 2024[21] - The company has complied with the relevant listing rules regarding the issuance of loans to borrowers as of March 31, 2024[61] - The management and board conduct quarterly reviews to monitor loan recoverability and identify potential risks[56] - The company’s credit risk assessment process includes evaluating clients' credit status, financial condition, and repayment ability[74] Corporate Governance - The board of directors is responsible for ensuring the implementation of the group's overall strategy and coordinating business operations[1] - The board consists of six members, including three executive directors and three independent non-executive directors[196] - The chairman also serves as the CEO, which deviates from the Corporate Governance Code, but the board believes this structure facilitates strong leadership and effective decision-making[176] - The company has established a remuneration committee that met once during the reporting period to review and approve management's compensation proposals[191] Business Operations - The group’s business activities primarily included property investment and lending operations during the review year[48] - The group plans to continue expanding its property investment business to increase rental income and maintain focus on its lending business for stable revenue[86] - The company holds a money lender license under the Money Lenders Ordinance in Hong Kong, providing loans to both corporate and individual clients[73] Shareholder Information - The board of directors did not recommend any dividend distribution for the fiscal year ending March 31, 2024[125] - The company has not entered into any equity-linked agreements during the fiscal year ending March 31, 2024[129] - The company has not disclosed any significant related party transactions in the financial statements[142] Audit and Reporting - The audit committee consists of three independent non-executive directors, responsible for reviewing the independence of external auditors and internal control systems[181] - The environmental, social, and governance report will be published on July 31, 2024, detailing the company's policies and performance[150] - The company has not disclosed any significant events after the reporting period[167]
中国置业投资(00736) - 2024 - 年度财报