Financial Performance - Revenue for the financial year ended March 31, 2020, decreased by 7.6% from HK$3,724,845,000 to HK$3,443,430,000 compared to the previous financial year[9]. - Gross profit for this financial year decreased by 0.9% from HK$564,937,000 to HK$559,885,000[9]. - Other income, gains, and losses decreased by 93.9% from HK$90,634,000 to HK$5,506,000[9]. - Profit attributable to owners of the Company for the financial year was HK$30,283,000, down from HK$97,429,000 in 2019[10]. - Earnings per share attributable to owners of the Company were HK0.6 cent, compared to HK2.0 cents in the previous financial year[11]. - The Group's revenue decreased from HK$3,725 million to HK$3,443 million, representing a decline of approximately 7.6%[25]. - Gross profit for the financial year decreased slightly from HK$564.9 million to HK$559.9 million, a decrease of about 0.9%[25]. - Net profit attributable to owners was HK$30.3 million, down from HK$97.4 million in the previous financial year, indicating a decline of approximately 68.9%[25]. - The Group's revenue for the year ended 31 March 2020 was approximately HK$3,443.4 million, representing a decrease of approximately 7.6% compared to HK$3,724.8 million in the previous year[73]. Assets and Liabilities - Total assets decreased from HK$3,933,651,000 in 2019 to HK$3,597,058,000 in 2020[20]. - Net assets decreased from HK$2,373,194,000 in 2019 to HK$2,002,910,000 in 2020[20]. - The Group's total liabilities as of March 31, 2020, were approximately HK$1,594.1 million, compared to approximately HK$1,560.5 million as of March 31, 2019[88]. - The Group's borrowings as of March 31, 2020, were approximately HK$755.4 million, representing a decrease of approximately 13.6% from approximately HK$873.9 million as of March 31, 2019[104]. - The gearing ratio increased to approximately 37.7% as of March 31, 2020, compared to approximately 36.8% as of March 31, 2019[105]. - Cash at banks and in hand as of March 31, 2020, was approximately HK$116.0 million, a decrease from approximately HK$185.2 million as of March 31, 2019[89]. Business Segments - The auto business remained the major income driver, accounting for approximately 87.6% of the Group's total business[25]. - Revenue from ultra-luxury automobile distributorships decreased by approximately 8.8% to HK$3,016 million compared to HK$3,308 million in the previous year[38]. - Lamborghini recorded a significant sales growth of approximately 71%, with total sales reaching HK$437.6 million compared to HK$256.2 million in the previous financial year[38]. - A total of 115 units of Lamborghini were sold, representing an increase of approximately 117% compared to 53 units sold in the previous financial year[38]. - Bentley's sales decreased by approximately 18% to HK$1,146 million, down from HK$1,397 million in the previous financial year, with unit sales dropping by 21% to 345 vehicles[40][42]. - Rolls-Royce recorded a sales decline of approximately 14% to HK$1,326 million, while unit sales increased by approximately 2% to 207 vehicles[44][49]. Market Trends - The luxury goods market in China is expected to recover, with Chinese consumers projected to account for nearly 50% of the market by 2025[26]. - Online luxury purchases have increased during the crisis, potentially representing up to 30% of the market by 2025[26]. - The luxury car market in China saw a year-on-year decline of 16.4% to 795,000 units in the first four months of 2020 due to the pandemic[31]. Expenses and Costs - Selling and distribution costs increased by approximately 0.3%, mainly due to higher depreciation for property, plant, and equipment[80]. - Administrative expenses decreased by approximately HK$65.8 million, attributed to the absence of expenses related to acquisitions and a decrease in amortization of intangible assets[81]. - The gross profit margin for after-sales services decreased from approximately 44.3% to 41.6%, reflecting a decline of about 6.5% in revenue[46][50]. Future Outlook - The Group expects a short-term impact on luxury car sales due to COVID-19, with recovery anticipated in the second half of FY2021[130]. - Sales of B&O products are expected to see a moderate drop in the first half of FY2021, with a return to normal in the second half[131]. - The pandemic has caused significant delays in film investments and projects, with expectations that this segment will not contribute significantly to the Group in the upcoming fiscal year[135]. Corporate Governance - The Directors do not recommend the payment of a final dividend for the year ended March 31, 2020, in order to reserve more capital for business operations and development[140]. - The Company has received annual confirmations of independence from all Independent Non-executive Directors, affirming their independence[185]. - The Company has arranged appropriate directors' and officers' liability insurance coverage for its directors and officers[195].
新耀莱(00970) - 2020 - 年度财报