Financial Performance - The company achieved record revenue of approximately HKD 1,076.8 million for the fiscal year 2024, representing a 23% increase from HKD 877.3 million in fiscal year 2023[5]. - The profit attributable to shareholders for fiscal year 2024 was approximately HKD 16.7 million, up from HKD 11.0 million in fiscal year 2023[6]. - The pre-tax profit for fiscal year 2024 was approximately HKD 43.3 million, up from HKD 30.5 million in the previous year[15]. - The net profit for fiscal year 2024 was approximately HKD 33.0 million, an increase of about 45% from HKD 22.7 million in fiscal year 2023, driven by a gross profit increase of HKD 35.8 million[32]. - The group's gross profit for the fiscal year 2024 was approximately HKD 209.5 million, an increase of about 21% from HKD 173.7 million in fiscal year 2023, with a stable gross margin of around 20%[25]. - General and administrative expenses for fiscal year 2024 were approximately HKD 152.5 million, an increase of about 18% from HKD 128.8 million in fiscal year 2023, primarily due to increased employee costs[26]. Revenue Segments - The revenue from the IT infrastructure solutions segment was approximately HKD 823.0 million, accounting for about 76.4% of total revenue, with a significant increase of approximately 34% from HKD 613.7 million in fiscal year 2023[17]. - The IT application and solution development services segment generated revenue of approximately HKD 81.3 million, a 14% increase from HKD 71.5 million in the previous year[16]. - The IT secondment services segment saw a revenue decrease of about 7%, down to approximately HKD 25.3 million from HKD 27.1 million in fiscal year 2023[19]. - The IT maintenance and support services segment reported a revenue of approximately HKD 146.7 million, a decrease of about 11% from HKD 165.0 million in the previous year[20]. - The new property leasing segment generated revenue of approximately HKD 0.5 million, contributing about 0.1% to total revenue[21]. Liquidity and Assets - The company maintained high liquidity with current assets of approximately HKD 679.7 million, compared to HKD 576.1 million in fiscal year 2023[6]. - The group's total current assets as of March 31, 2024, were approximately HKD 679.7 million, an increase from HKD 576.1 million in 2023, primarily due to cash and cash equivalents[39]. - The group's current liabilities as of March 31, 2024, were approximately HKD 366.2 million, an increase from HKD 255.6 million in 2023, mainly due to trade and other payables[39]. - The group's liquidity ratio as of March 31, 2024, was approximately 1.9 times, down from 2.3 times in 2023, indicating a decrease in liquidity[40]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.01 per share, totaling approximately HKD 8.8 million, marking the first dividend distribution since its listing in 2015[6]. - The company proposed a final dividend of HKD 0.01 per ordinary share for the fiscal year ending March 31, 2024, compared to no dividend in 2023[80]. - The company aims to balance higher shareholder returns with maintaining a good capital structure to reduce capital costs[42]. Challenges and Market Conditions - The company faced challenges due to a complex business environment and market competition, leading to some clients reducing their budgets[9]. - The company emphasized the importance of talent development to maintain competitiveness in a challenging market environment[9]. - The company identified several major risks and uncertainties that could impact its financial condition and operational performance, including potential cost overruns or delays in IT application and solution development projects[83]. - The company anticipates continued bidding on fixed-price contracts, which may heighten the risk of project overruns and result in lower or negative project profits[84]. Corporate Governance - The company has complied with the corporate governance code as outlined in the Hong Kong Stock Exchange Listing Rules, except for certain deviations[152]. - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors as of the report date[157]. - The company is committed to maintaining good corporate governance practices and procedures to enhance transparency and accountability[152]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[179]. Employee and Talent Management - The group has a total of 315 full-time employees as of March 31, 2024, an increase from 284 in 2023, with total employee compensation of approximately HKD 174.1 million in 2024 compared to HKD 160.2 million in 2023[63]. - The company’s management team has extensive experience in the IT industry, with key executives having over 30 years of relevant experience[73][74][75][76]. Investment and Growth Opportunities - The company is exploring investment opportunities in the global information technology sector, particularly in Southeast Asia, to enhance its business growth[15]. - The company aims to actively participate in more bidding projects and expand its customer base to increase market share in the future[22]. - The company continues to seek investment opportunities that benefit shareholders overall[47]. Risk Management - The group has implemented risk management procedures to identify, assess, and manage significant risks, with annual risk assessments conducted by the board[199]. - The internal control system aims to promote effective and efficient operations, minimizing risks faced by the group[199]. - The board has established a risk management framework to provide clear governance structures and procedures for risk management[200].
扬科集团(01460) - 2024 - 年度财报