Financial Performance - For the year ended March 31, 2024, the Group recorded a revenue decrease of approximately HK$14.7 million or 32.4%, totaling approximately HK$30.7 million compared to the previous financial year[19] - The Group achieved a gross profit margin of approximately 21.2% for the year, an increase from approximately 15.5% in the previous year[19] - The Group recognized a loss of approximately HK$4.9 million for the year, compared to a loss of approximately HK$4.6 million for the year ended March 31, 2023[20] - The decrease in revenue was primarily due to contributions from projects with relatively small contract sums[19] - The Group's performance reflects the challenges faced in the current business environment, impacting revenue generation[20] - The Group's revenue decreased by approximately HK$14.7 million or 32.4% from approximately HK$45.4 million for the year ended March 31, 2023, to approximately HK$30.7 million for the year ended March 31, 2024[29] - The Group recorded a net loss of approximately HK$4.9 million for the year ended March 31, 2024, compared to a loss of approximately HK$4.6 million for the previous year, representing an increase of approximately 6.5%[39] - General and administrative expenses decreased by approximately HK$0.4 million or 3.5% to approximately HK$11.1 million for the year ended March 31, 2024[38] Cash Position and Liabilities - As of March 31, 2024, the Group had net current liabilities of approximately HK$6.8 million, compared to approximately HK$0.7 million in the previous year[44] - The current ratio decreased to approximately 0.7 times as of March 31, 2024, down from approximately 0.9 times in the previous year[44] - The total equity attributable to owners of the Company amounted to approximately HK$1.0 million deficit as of March 31, 2024, compared to approximately HK$3.9 million deficit in the previous year[45] - The group's cash and cash equivalents as of March 31, 2024, were approximately HKD 4,800,000, compared to approximately HKD 4,000,000 in 2023[49] - The current ratio as of March 31, 2024, was approximately 0.7, down from approximately 0.9 in 2023, primarily due to an increase in trade and other payables[49] Staffing and Recruitment - The proceeds from the Group's listing on GEM on December 12, 2016, have strengthened its cash position, enabling recruitment of additional professional staff[18] - The Group aims to provide services to both existing and new customers through enhanced staffing[18] - Total staff and Directors' remuneration decreased to approximately HK$14.3 million for the year ended March 31, 2024, down from approximately HK$16.6 million in the previous year[46] - The Group continues to provide competitive remuneration to retain its professional team and recruit suitable talent[165] Corporate Governance - The company complied with all corporate governance code provisions throughout the year, except for certain deviations related to board composition[62][67] - The board currently comprises three executive directors and three independent non-executive directors[70] - The board held a total of 8 meetings during the year ended March 31, 2024, to review financial results and strategic direction[89] - The company has appointed three independent non-executive directors, representing at least one-third of the board, ensuring compliance with GEM Listing Rules[82] - The board is collectively responsible for promoting the success of the group and maximizing long-term shareholders' interests while balancing broader stakeholder interests[88] - The company has implemented a board diversity policy that considers various factors including gender, age, and professional experience[78] - The nomination committee is responsible for reviewing the board diversity policy and monitoring its implementation[80] - The Company has established a Nomination Policy outlining principles, criteria, and procedures for selecting and assessing Board candidates[120] Risk Management and Internal Control - The Group emphasizes sound risk management as essential for long-term growth, with management responsible for maintaining an effective internal control system[152] - The Audit Committee and the Board confirmed the effectiveness of the risk management and internal control systems, with no significant issues identified[173] - The management will closely monitor credit and liquidity risks related to major financial instruments[166] - The Group's interest rate risk is primarily related to interest-bearing borrowings, with no derivative contracts currently used for hedging[167] Dividend Policy - The Company has adopted a dividend policy that outlines principles for declaring and distributing profits as dividends to shareholders[187] - In determining proposed dividends, the Board considers factors such as general market conditions, financial performance, liquidity position, and future development plans[191] - Final dividends declared must be approved by an ordinary resolution of the shareholders at the AGM and cannot exceed the amount recommended by the Board[193] - The Board may pay interim and/or special dividends based on the profits and/or asset levels of the Group, with no assurance of specific amounts for any period[194] - The Company’s dividend policy is subject to the laws and regulations of the Cayman Islands and requires shareholder approval at the annual general meeting[197] Shareholder Communication - The Company maintains high transparency to enhance investor relations, committing to timely disclosure of corporate information[184] - Shareholders are encouraged to communicate with the Board through various channels, including attending AGMs and EGMs[181] - The Company has established procedures for handling inside information to ensure compliance with the Securities and Futures Ordinance[182] - The Company’s Articles and relevant documents are published on the Stock Exchange and the Company’s website[186]
中国来骑哦(08039) - 2024 - 年度财报