Revenue Growth - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[4]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[4]. - New product launches are expected to contribute an additional $100 million in revenue, with a focus on innovative technology solutions[4]. - Total revenue increased by approximately HK$9.3 million, or 3.6%, from approximately HK$258.4 million for the year ended 31 March 2023 to approximately HK$267.7 million for the Year[43]. - Revenue from property leasing, sub-letting, retail, and others segment increased from HK$43.7 million to HK$78.8 million due to the opening of the border and ending of COVID social distancing restrictions[43]. - Revenue from self-operated retail arcades surged from approximately HK$43.7 million to approximately HK$78.8 million, marking an increase of approximately HK$35.1 million or 80.4% due to the opening of borders and the end of COVID-19 social distancing measures[73]. - Revenue from money lending increased by approximately HK$3.5 million, or approximately 1167%, from HK$0.3 million to HK$3.8 million, mainly due to the full year effect of loans extended in early 2023[76]. - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 25% year-over-year growth[122]. - Revenue from property leasing, subletting services, and retail businesses increased by approximately HK$35.1 million, or approximately 80.4%, from approximately HK$43.7 million to approximately HK$78.8 million, attributed to the reopening of borders and the end of COVID restrictions[82]. User Growth - User data showed a 15% increase in active users, reaching 2 million by the end of the fiscal year[4]. - User data showed a 30% increase in active users, reaching 1.5 million by the end of the year[122]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[4]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[122]. Strategic Initiatives - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and customer base[4]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[122]. - The company has invested $10 million in research and development for new technologies aimed at improving user experience[4]. - Research and development expenses increased by 10%, totaling $40 million, to support new technology initiatives[122]. Corporate Governance - The board has adopted a diversity policy to enhance performance, considering various factors such as age and professional experience[6]. - The company has complied with all relevant listing rules regarding board composition and independence[21]. - Continuous professional development programs for directors are being implemented to ensure compliance with the latest regulations[10]. - The board emphasized the importance of corporate governance and compliance in driving sustainable growth[122]. - The company has adopted the Corporate Governance Code and has complied with applicable code provisions for the year, ensuring high standards of corporate governance[134]. - The Board is responsible for the overall leadership of the Group and has established four committees to oversee specific aspects of the company's affairs[136]. - The company maintains a high level of accountability and transparency in its operations, as evidenced by the detailed recording of Board meeting minutes[150]. - The company is committed to enhancing corporate value and safeguarding shareholder interests through effective governance practices[135]. Financial Performance - Gross profit increased by approximately HK$8.6 million, or approximately 26.1%, from approximately HK$32.8 million to approximately HK$41.3 million, with gross profit margin rising from approximately 12.7% to approximately 15.4%[76]. - Expected credit losses on financial assets increased by approximately HK$5.2 million, or approximately 42.3%, from approximately HK$12.3 million to approximately HK$17.5 million, primarily due to a larger amount of longer aged receivables[76]. - The Group's net loss reduced by approximately HK$13.0 million from approximately HK$41.0 million in the previous year to approximately HK$28.0 million this year[86]. - As of March 31, 2024, the Group had cash and bank balances of approximately HK$34.3 million, down from approximately HK$43.2 million in 2023, with borrowings of approximately HK$10.2 million and lease liabilities of approximately HK$22.7 million[88]. - The Group's current ratio was approximately 2.1 times as of March 31, 2024, compared to 2.4 times in 2023[88]. - The total current assets and current liabilities were approximately HK$207.4 million and approximately HK$100.5 million, respectively, as of March 31, 2024[88]. - The total capital expenditure for the year was approximately HK$41.1 million, a decrease from approximately HK$56.9 million in 2023[98]. Cost Management - The company plans to implement cost-saving measures aimed at reducing operational expenses by 5% in the upcoming year[122]. - Total staff costs incurred were approximately HK$57.1 million, an increase from approximately HK$46.0 million, primarily due to higher headcount[81]. - Selling expenses decreased by approximately HK$2.9 million, or approximately 99.2%, from approximately HK$2.9 million for the previous year to less than HK$0.1 million for the year, mainly due to a decrease in staff costs in the selling department[86]. - Administrative expenses decreased by approximately HK$22.1 million, or 36.4%, from approximately HK$60.7 million for the previous year to approximately HK$38.6 million for the year, primarily due to a reduction in depreciation of property, plant, and equipment[86]. - Finance income decreased by approximately HK$2.5 million, or approximately 56.2%, from approximately HK$4.5 million for the previous year to approximately HK$2.0 million for the year, attributed to a decline in the average balance of cash[86]. - Finance costs decreased by approximately HK$0.3 million, or approximately 14.8%, from approximately HK$2.0 million for the previous year to approximately HK$1.7 million for the year, mainly due to a reduction in borrowing[86]. Shareholder Information - The company has a significant ownership structure, with Mr. Xu Chujia holding 58.53% of Boardwin Resources Limited, which in turn owns approximately 61.41% of the company's issued share capital[123]. - As of March 31, 2024, the total issued share capital of the Company was HK$12,390,000, divided into 6,195,000,000 ordinary shares at HK$0.002 each[98]. - The company’s share option scheme allows for a maximum of 30% of the shares in issue to be issued upon exercise of all outstanding options, which must not exceed 600,000,000 shares[184]. - The maximum number of shares subject to options under the scheme must not exceed 30% of the shares in issue at any time[183]. - The company may seek separate Shareholders' approval for granting options beyond the Scheme Mandate Limit to specifically identified Participants[194]. Property Management - The renewed property management framework agreement commenced on April 1, 2021, and is set to expire on March 31, 2024, continuing the property management services previously provided[187]. - The property management services include daily management, cleaning, repair of public areas, security services, and guest reception[191]. - The individual property management agreements will be consistent with the terms of the Renewed Property Management Framework Agreement[190].
兆邦基生活(01660) - 2024 - 年度财报