Revenue Growth - The company's total revenue increased from approximately HKD 199.17 million for the year ended April 30, 2023, to approximately HKD 302.10 million for the year ended April 30, 2024, representing a growth of 51.68%[5] - Revenue from slope engineering for 2024 was HKD 301,802,000, an increase from HKD 199,013,000 in 2023[99] - Revenue from foundation engineering for 2024 was HKD 293,000, compared to HKD 160,000 in 2023[99] - Customer contract revenue for 2024 was HKD 302,095,000, up from HKD 199,173,000 in 2023[99] - Revenue from foundation engineering rose from approximately HKD 0.16 million for the year ended April 30, 2023, to approximately HKD 0.29 million for the year ended April 30, 2024, an increase of about 81.25%[6] - The group recorded a net loss reduction for the year ended April 30, 2024, compared to the net loss for the year ended April 30, 2023, despite a decrease in gross margin[142] Profitability and Loss - The company's gross profit increased from approximately HKD 3.91 million for the year ended April 30, 2023, to approximately HKD 5.76 million for the year ended April 30, 2024, a growth of 47.31%[7] - The loss attributable to the company's owners decreased to approximately HKD 0.35 million for the year ended April 30, 2024, compared to a loss of approximately HKD 3.08 million for the year ended April 30, 2023[11] - The company recorded a basic loss per share of approximately HKD 0.02 for the year ended April 30, 2024, compared to a basic loss per share of approximately HKD 0.20 for the year ended April 30, 2023[20] - Pre-tax loss decreased from HKD 3,076,000 in 2023 to HKD 349,000 in 2024, indicating an improvement in financial performance[117] Financial Position - The current ratio improved slightly to 0.73 as of April 30, 2024, from 0.70 as of April 30, 2023, based on current assets of HKD 64.31 million and current liabilities of HKD 87.52 million[24] - Cash and cash equivalents increased significantly to approximately HKD 33.83 million as of April 30, 2024, from approximately HKD 1.15 million as of April 30, 2023, an increase of about HKD 32.68 million[25] - The company's asset-liability ratio was approximately negative 220.67% as of April 30, 2024, compared to negative 95.69% as of April 30, 2023[15] - Current liabilities net value was approximately HKD (23,201,000) as of April 30, 2024, compared to HKD (22,323,000) in the previous year, indicating a slight deterioration[79] - Total liabilities net amount was approximately HKD 22,643,000 as of April 30, 2024, compared to HKD 22,294,000 in 2023[97] - The company’s total assets increased to HKD 64,314,000 from HKD 52,482,000, showing a growth of approximately 22.5%[79] Operational Efficiency - The group has implemented various cost control measures to improve financial performance[89] - Administrative expenses decreased from approximately HKD 8.11 million for the year ended April 30, 2023, to approximately HKD 7.23 million for the year ended April 30, 2024, a reduction of approximately 10.85%[137] - Employee costs, including directors' remuneration, decreased from HKD 4,754,000 in 2023 to HKD 4,091,000 in 2024, a reduction of 13.9%[112] - Trade payables decreased from HKD 36,474,000 in 2023 to HKD 27,800,000 in 2024, a decline of 23.8%[130] Corporate Governance and Compliance - The company has adopted a code of conduct for directors' securities transactions that complies with GEM Listing Rules[59] - The company has complied with the corporate governance code as per GEM Listing Rules, with some deviations explained[51] - The audit committee reviewed the consolidated financial statements for the year ending April 30, 2024[41] - The company did not recommend the payment of a final dividend for the year ended April 30, 2024, consistent with the previous year[20] - The board does not recommend the payment of a final dividend for the year ended April 30, 2024, consistent with the previous year[152] Market and Industry Outlook - The group remains cautiously optimistic about the slope engineering industry in Hong Kong, driven by ongoing government infrastructure projects[144] - The board acknowledges the challenging operating environment due to rising operational costs, particularly subcontracting fees[142] - The group is actively considering fundraising activities to raise new capital, including rights issues, public offerings, placements of new shares, and issuing convertible notes[159] Miscellaneous - The company had no significant capital commitments as of April 30, 2024, and had 73 employees, down from 94 employees as of April 30, 2023[29] - There were no significant events after the reporting period ending April 30, 2024[37] - There were no major difficulties encountered in procuring materials or appointing subcontractors during the year ending April 30, 2024[54] - The company confirmed that the application of new and revised Hong Kong Financial Reporting Standards did not have a significant impact on the financial performance for the year[81] - The group received financial support from its holding company, with a maximum amount of HKD 36,000,000 to meet financial obligations until October 31, 2025[97]
浙江联合投资(08366) - 2024 - 年度业绩