Financial Performance - The group's revenue for the year ended May 31, 2024, was RM 30,681,000, an increase of 1.3% from RM 30,301,000 in 2023[2] - Gross profit for the year was RM 8,559,000, representing a significant increase of 23.6% compared to RM 6,923,000 in the previous year[2] - The net profit for the year was RM 108,000, up from RM 88,000 in 2023, reflecting a growth of 22.7%[2] - The total comprehensive income for the year was RM 518,000, compared to RM 493,000 in the previous year, indicating a growth of 5.1%[2] - Basic and diluted earnings per share increased to 0.80 sen from 0.72 sen, marking a rise of 11.1%[2] - The group reported a pre-tax profit of 1,247 thousand MYR for the year ending May 31, 2024, compared to 818 thousand MYR in the previous year, reflecting a significant increase[15] - The company reported a pre-tax profit of RM 1,247,000 for 2024, up from RM 818,000 in 2023, reflecting a significant improvement in profitability[27] - The net profit for the year ending May 31, 2024, was approximately MYR 108,000, up from approximately MYR 88,000 for the year ended May 31, 2023[45] Assets and Liabilities - Total assets as of May 31, 2024, were RM 42,601,000, slightly up from RM 42,087,000 in 2023[3] - The group's net assets increased to RM 36,298,000 from RM 35,175,000, showing a growth of 3.2%[4] - The total non-current assets as of May 31, 2024, amounted to RM 8,006,000, with Malaysia contributing RM 4,540,000 and China (Hong Kong) RM 3,466,000[20] - The total current assets as of May 31, 2024, were RM 42,087,000, compared to RM 37,976,000 in 2023, showing an increase in liquidity[18] - The group’s non-current assets totaled 8,006 thousand MYR, with non-current liabilities at (95) thousand MYR[16] Revenue Segments - Revenue from the manufacturing and trading segment was 29,287 thousand MYR, up from 24,374 thousand MYR, indicating a growth of 20.2%[14] - The sales of healthcare products generated 4,577 thousand MYR in revenue for the year ending May 31, 2023, which was a new segment introduced this year[15] - Revenue from the manufacturing and trading of precast concrete junction boxes rose by approximately 20.16%, from about 24.4 million MYR to about 29.3 million MYR during the same period[41] Expenses - The group reported a decrease in administrative expenses to RM 5,977,000 from RM 4,308,000, reflecting a rise of 39%[2] - The cost of goods sold for the year 2024 was RM 15,995,000, a decrease from RM 17,943,000 in 2023, indicating improved cost management[24] - Administrative expenses rose from approximately MYR 4.3 million to approximately MYR 6.0 million, an increase of about 38.74%[43] - Sales and distribution expenses increased from approximately MYR 1.23 million to approximately MYR 1.36 million, an increase of about 10.15%[44] Cash Flow and Liquidity - The group’s cash and bank balances increased to RM 7,142,000 from RM 6,828,000, a growth of 4.6%[3] - The total cash and cash equivalents amounted to 28,019 thousand MYR in 2024, after deducting pledged deposits of 212 thousand MYR[32] - The current ratio as of May 31, 2024, was 3.00 times, down from 3.61 times as of May 31, 2023[49] - The company has no borrowings as of May 31, 2024, maintaining a strong financial position with cash and cash equivalents of approximately MYR 28.2 million[49] Strategic Initiatives - The group plans to focus more resources on the development of precast concrete junction box manufacturing and trading business post-COVID-19 recovery[41] - The company plans to expand capacity through various means, including increasing production at existing facilities, which is projected to contribute an additional 7.0 million HKD[56] - The establishment of a new facility in Kulai is expected to add 7.3 million HKD, with 4.9 million HKD already allocated for this purpose[56] - The company has engaged in vertical expansion in the precast concrete junction box industry through acquisitions, amounting to 2.7 million HKD[56] Corporate Governance and Compliance - The company emphasizes its commitment to environmental sustainability and compliance with environmental regulations[72] - The company is focused on enhancing corporate governance standards and internal controls to protect shareholder rights[70] - The board consists of independent non-executive directors who have confirmed their independence as per GEM listing rules[70] - The company is committed to transparency and will provide updates on its website as well[80] Shareholder Matters - The company did not recommend any dividends for the fiscal years ending May 31, 2023, and 2024[29] - The board did not recommend a final dividend for the year ending May 31, 2024, consistent with the previous year[76] - The company issued 27,252,720 subscription shares at a price of HKD 0.08 per share, raising approximately HKD 2.1 million net of expenses[74]
万顺瑞强集团(08427) - 2024 - 年度业绩