Financial Performance - Revenue for the year 2024 was HKD 452,192,000, an increase from HKD 401,352,000 in 2023, representing a growth of approximately 12.5%[14] - The company reported a pre-tax loss of HKD 78,915,000 for 2024, compared to a loss of HKD 38,838,000 in 2023, indicating a deterioration in financial performance[14] - Loss attributable to owners of the company was HKD 78,875,000 in 2024, up from HKD 38,065,000 in 2023, reflecting an increase of 106.5%[14] - The basic and diluted loss per share for 2024 was 6.61 HK cents, compared to 4.01 HK cents in 2023, marking a rise of 64.5%[14] - The gross profit for the year ended March 31, 2024, was approximately HKD 28.0 million, an increase of about HKD 6.6 million or 30.8% compared to HKD 21.4 million for the previous year[23] - The overall gross profit margin increased to approximately 6.2% for the year ended March 31, 2024, up from approximately 5.3% for the previous year[23] - Other income, gains, and losses recorded a profit of approximately HKD 5.4 million, a significant increase of about HKD 8.1 million or 300% compared to a loss of HKD 2.7 million for the previous year[24] - Total operating expenses for the year ended March 31, 2024, were approximately HKD 110.0 million, an increase of about HKD 54.0 million or 96.4% compared to approximately HKD 56.0 million for the year ended March 31, 2023[25] - Adjusted EBITDA for the year ended March 31, 2024, was approximately HKD (40.1) million, an increase from approximately HKD (17.8) million for the year ended March 31, 2023[30] - As of March 31, 2024, the company's cash and cash equivalents were approximately HKD 67.6 million, down from approximately HKD 87.9 million as of March 31, 2023[31] - The current ratio decreased from approximately 1.3 as of March 31, 2023, to approximately 1.1 as of March 31, 2024, primarily due to increases in trade payables and contract liabilities[31] Business Strategy and Development - The company is focusing on developing green infrastructure and energy management solutions, leveraging nearly 40 years of expertise in the industry[15] - Future growth opportunities are anticipated in the green building and new energy vehicle sectors, driven by the global shift towards a low-carbon economy[16] - The company plans to expand its battery energy storage systems and integrate digital energy solutions into building energy management[16] - Collaboration with Zhuhai Ruizhu Construction Technology Co., a subsidiary of Midea Real Estate, aims to provide comprehensive green prefabricated building solutions[16] - The company is committed to enhancing its core competitiveness and customer satisfaction to ensure sustainable growth and profitability[16] - The development of new battery storage systems is underway, with applications in various sectors including commercial, residential, microgrids, and electric vehicle charging stations[16] - The group plans to construct Hong Kong's first power battery processing facility, contributing to local battery recycling and the circular economy in the Greater Bay Area[17] - The group is optimistic about future growth in reverse supply chain management and environmental services, which began generating significant revenue in the second fiscal year[21] - The group aims to leverage government investments of approximately USD 30 billion over the next 15 to 20 years for green transformation initiatives[17] - The group is actively participating in the Hong Kong government's EV charging initiatives and plans to integrate energy storage systems with EV charging solutions[17] - The group is exploring new sustainable business models and growth opportunities globally, focusing on the acceleration of the power battery recycling industry[17] Corporate Governance and Management - The company appointed Mr. Guo Jinsheng as Chairman and Executive Director on January 11, 2023, with over 25 years of experience in the environmental technology and renewable energy sectors[39] - Mr. Zhan Zhihao was appointed as CEO on January 11, 2023, bringing nearly 10 years of experience in the green technology industry[39] - The company has a strong focus on environmental improvement, as evidenced by Ms. Guo receiving the Green Elite Award at the 2021 Hong Kong Environmental Excellence Awards[40] - The company is committed to compliance and governance, with independent directors providing oversight on strategy, policy, and performance[41] - The management team is well-rounded, with members holding advanced degrees and professional qualifications, including chartered financial analyst status[39][40] - The company is actively involved in various industry associations, enhancing its network and influence in the green technology and environmental sectors[40] - The company emphasizes the importance of transparency and accountability in its corporate governance practices[106] - The board of directors includes Mr. Guo as the chairman and Mr. Zhan as the CEO[108] - Independent non-executive directors accounted for over one-third of the board, ensuring strong independent oversight[114] - The company has established effective mechanisms for independent opinions and advice through regular meetings of independent directors[114] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating environmental, social, and governance (ESG) factors into its operations to create sustainable value for stakeholders[154] - The board has established a cross-departmental ESG working group to enhance collaboration and ensure consistent performance aligned with stakeholder expectations[155] - The company has implemented a comprehensive management system that includes ISO 9001, ISO 14001, and ISO 45001 standards to monitor and manage ESG-related risks[154] - The ESG report is prepared in accordance with the Hong Kong Stock Exchange's guidelines, ensuring transparency and adherence to reporting principles[150] - The company aims to continuously improve its internal data collection processes and expand the scope of disclosures in future reports[154] - The board regularly reviews the company's ESG performance and adjusts action plans as necessary to address identified risks and opportunities[155] - The company has set clear short-term and long-term sustainability goals to reduce emissions in compliance with government regulations[155] - The company emphasizes the importance of risk management and internal control systems to address ESG and climate-related risks[155] Employee Relations and Development - The company maintains good relationships with employees, offering competitive compensation packages to attract and retain talent[52] - The company has a structured annual review system to assess employee performance, influencing decisions on salary increases and bonuses[52] - The company recognizes the importance of employee development and growth, regularly assessing current human resources to determine staffing needs[194] - The company ensures all employees are entitled to public holidays and additional leave such as annual leave, maternity leave, and sick leave[195] - Employee turnover rate for the year 2023/2024 is 44%, down from 59% in 2022/2023, indicating improved employee retention[198] - The company employs a total of 45 employees as of March 31, 2024, a decrease from 51 in the previous year[198] - The company has established a health and safety policy to ensure a safe working environment, adhering to ISO 45001:2018 standards[199] - The company provides various benefits to employees, including mandatory contributions to the MPF scheme, medical insurance, and discretionary bonuses[197] Risk Management - The company employs an external independent consulting firm to review the effectiveness of its risk management and internal control systems annually[131] - The risk management system includes a risk register to track identified risks and assess their impact[132] - The company has adopted a continuous risk management approach to identify and evaluate inherent risks affecting its objectives[132] - The board will review the need for an internal audit function at least annually, considering the scale and complexity of the business[131] Shareholder and Capital Management - The company did not recommend any dividend for the year ending March 31, 2024, consistent with the previous year[48] - The company issued a total of 103,650,000 new shares at a capitalization price of HKD 0.40 per share, raising approximately HKD 41.46 million to settle a promissory note[68] - The net proceeds from the March subscription amounted to approximately HKD 18.0 million, intended for electric vehicle charging station infrastructure projects[70] - The net proceeds from the July subscription were approximately HKD 35.91 million, also allocated for electric vehicle charging station infrastructure and energy storage system projects[72] - The company changed its name from "Golden Ponder Holdings Limited" to "Envision Greenwise Holdings Limited" effective October 9, 2023[69] Environmental Impact and Sustainability Goals - The company aims to reduce various emissions by 50% by the fiscal year ending March 31, 2035, compared to the baseline year ending March 31, 2023[169] - The total greenhouse gas emissions intensity was approximately 0.33 tons of CO2 equivalent per million HKD in revenue, a reduction of 37% compared to the baseline year[171] - The company has implemented an environmental management system certified to ISO 14001:2015 standards to mitigate adverse environmental impacts[166] - The company plans to replace traditional gasoline or diesel vehicles with electric vehicles and install charging stations at workplaces[171] - The company has set a target to reduce greenhouse gas emissions intensity by 50% by the fiscal year ending March 31, 2035, compared to the baseline year[171] - The company has taken measures to reduce emissions, including regular vehicle maintenance and using energy-efficient lighting products[171] - The company has not reported any violations of environmental regulations during the reporting period[167] - The company will continue to monitor and record emissions and improve data collection systems for future reporting[169]
晋景新能(01783) - 2024 - 年度财报