Financial Performance - The group's revenue for the year ended June 30, 2024, was approximately HKD 352.9 million, an increase from HKD 336.5 million in 2023, representing a growth of about 4.2%[1] - The gross profit margin for the year ended June 30, 2024, was approximately 18.0%, down from 23.6% in 2023[1] - The group's profit before tax for the year ended June 30, 2024, was approximately HKD 43.0 million, a decrease from HKD 54.6 million in 2023, reflecting a decline of about 21.5%[1] - The net profit for the year ended June 30, 2024, was approximately HKD 35.8 million, down from HKD 43.8 million in 2023, indicating a decrease of about 18.2%[1] - Basic earnings per share for the year ended June 30, 2024, were approximately HKD 0.0878, compared to HKD 0.1367 in 2023, a decline of about 35.7%[1] - The total comprehensive income for the year declined from approximately HKD 43.8 million to about HKD 35.8 million, a decrease of approximately 18.3%[30] Revenue Sources - Revenue from passive fire engineering services for the year ended June 30, 2024, was HKD 352.7 million, compared to HKD 336.2 million in 2023, showing an increase of about 4.2%[8] - Revenue from public projects for the year ended June 30, 2024, was HKD 298.2 million, significantly up from HKD 142.4 million in 2023, indicating a growth of approximately 109%[8] - Revenue from public projects rose significantly, driven by large-scale public infrastructure projects, while revenue from private projects dropped from approximately HKD 193.7 million to approximately HKD 54.5 million, a decline of 71.9%[21] Expenses and Costs - The group's gross profit decreased from approximately HKD 79.5 million to approximately HKD 63.6 million, a reduction of about 20.0% due to increased service costs[24] - The gross profit margin fell from approximately 23.6% to about 18.0%, primarily due to rising subcontractor costs and construction material expenses[24] - Administrative expenses increased from approximately HKD 14.6 million to about HKD 20.8 million, a rise of approximately 42.5% due to higher employee costs and professional fees[26] - Total employee costs for the fiscal year 2024 amounted to HKD 21,742,000, up from HKD 20,086,000 in 2023, reflecting an increase of 8.2%[12] Dividends and Shareholder Information - The board proposed a final cash dividend of HKD 0.172 per ordinary share for the year ended June 30, 2024, compared to no dividend in 2023[1] - The proposed final dividend for the fiscal year 2024 is HKD 0.172 per share, totaling HKD 70,000,000, pending shareholder approval[14] - Major shareholder Wang Guiying holds 306,000,000 shares, representing 75% of the total shares[54] - The annual general meeting is scheduled for November 11, 2024, in Hong Kong[48] Assets and Liabilities - The total assets less current liabilities as of June 30, 2024, were approximately HKD 294.1 million, an increase from HKD 256.9 million in 2023[4] - The group's total equity as of June 30, 2024, was approximately HKD 292.7 million, up from HKD 256.9 million in 2023, reflecting an increase of about 14%[5] - Trade receivables, net of credit loss provisions, decreased to HKD 11,205,000 in 2024 from HKD 17,220,000 in 2023, a decline of 34.9%[17] - Trade payables increased to HKD 9,305,000 in 2024 from HKD 8,366,000 in 2023, reflecting an increase of 11.2%[18] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the audited consolidated financial statements for the year[62] - The company has complied with the corporate governance code throughout the year, with a review of governance policies planned[55] - The company has maintained the minimum public float required by the listing rules as of June 30, 2024[61] - The company has confirmed that its controlling shareholders do not have any competing business interests[59] Future Outlook and Plans - The company remains cautiously optimistic about its medium to long-term business prospects despite facing challenges in the construction industry[20] - The expected timeline for utilizing unspent funds is subject to change based on market conditions[44] - The company has delayed the upgrade of its IT systems, originally scheduled for July 2023, due to delays in progress and hardware delivery[45] - The company has not made any significant investments or acquisitions during the year and has no major plans for capital asset acquisitions as of June 30, 2024[42][41] Miscellaneous - The company has not purchased, sold, or redeemed any of its listed securities during the year[60] - There have been no significant events affecting the group after June 30, 2024, up to the date of this announcement[60] - The annual report for the year will be sent to shareholders and made available on the company's website[64]
怡俊集团控股(02442) - 2024 - 年度业绩