Financial Performance - For the fiscal year ending June 30, 2024, total revenue was RMB 57,476,000, a decrease from RMB 110,831,000 in the previous year, representing a decline of approximately 48%[2] - The gross loss for the year was RMB 31,461,000, compared to a gross loss of RMB 73,484,000 in the previous year, indicating an improvement of about 57%[2] - The net loss for the year was RMB 38,911,000, which is a significant reduction from RMB 79,196,000 in the previous year, reflecting a decrease of approximately 51%[2] - The company reported a total loss of approximately HKD 38,911,000 for the year ending June 30, 2024[7] - The company’s total comprehensive loss for the year was RMB 33,041,000, compared to RMB 84,176,000 in the previous year, indicating a decrease of about 61%[2] - The group reported a loss before tax of RMB 38,856,000 in 2024, significantly improved from a loss of RMB 83,364,000 in 2023[10] - The group reported a loss attributable to equity holders of approximately RMB 38.5 million, a decrease from RMB 79.2 million in the same period last year[70] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 54,809,000, down from RMB 144,990,000 in the previous year, a decline of about 62%[3] - Current liabilities decreased to RMB 48,286,000 from RMB 126,732,000, representing a reduction of approximately 62%[4] - The total liabilities of the group decreased to RMB 68,829,000 in 2024 from RMB 126,732,000 in 2023[12] - The company’s goodwill decreased to RMB 21,073,000 from RMB 23,109,000, a reduction of approximately 9%[3] - The company has convertible bonds amounting to HKD 4,771,000 as of June 30, 2024[5] - The company’s total liabilities amounted to RMB 64,490,000 in 2024, down from RMB 121,252,000 in 2023[44] Cash and Cash Equivalents - Cash and cash equivalents decreased to RMB 22,076,000 from RMB 33,761,000, a decline of about 35%[3] - The company’s cash and cash equivalents decreased from RMB 33,761,000 in 2023 to RMB 22,076,000 in 2024, reflecting a tighter liquidity position[44] - The group’s cash and cash equivalents were RMB 1,858,000 in 2024, compared to RMB 5,485,000 in 2023[12] Revenue Breakdown - The furniture segment generated revenue of RMB 37,124,000 in 2024, a decrease of 23.0% from RMB 48,255,000 in 2023[10] - The data center segment reported revenue of RMB 20,352,000 in 2024, down 13.0% from RMB 23,648,000 in 2023[10] - The construction management services segment had no revenue in 2024, compared to RMB 38,928,000 in 2023[10] - Revenue from external customers in China decreased to RMB 57,435 thousand in 2024 from RMB 110,778 thousand in 2023, representing a decline of approximately 48.2%[16] - Revenue from the furniture segment's major customer decreased to RMB 37,124 thousand in 2024 from RMB 48,255 thousand in 2023, a decline of about 23.0%[17] Expenses and Costs - The group’s sales cost was approximately RMB 53.8 million, a decrease of about RMB 46.2 million or 46.2% compared to the previous year[60] - The sales cost for the furniture manufacturing and sales segment was approximately RMB 35.5 million, down about RMB 8.0 million or approximately 18.4% year-on-year[60] - The sales cost for the data center division during the reporting period was approximately RMB 18.3 million, a decrease of about RMB 2.9 million or approximately 13.5% compared to the same period last year[61] - The group's administrative and other expenses amounted to approximately RMB 26.1 million, a decrease of about RMB 56.8 million or approximately 68.5% compared to the same period last year[66] Tax and Loss Provisions - The company recognized a tax expense of RMB 55,000 for the year ended June 30, 2024, compared to a tax expense of RMB (4,168,000) in 2023, indicating a significant improvement in tax position[25] - The company has unutilized tax losses of RMB 48,787,000 as of June 30, 2024, which can be offset against future profits within five years[25] - The total expected credit loss for trade receivables is RMB 6,532,000, down from RMB 9,940,000 in 2023[33] Corporate Governance and Compliance - The company has been adhering to the corporate governance code, with some deviations noted regarding the separation of roles between the chairman and the CEO[104] - The company is in the process of identifying a suitable candidate to fill the chairman position, which has been vacant since September 2018[104] - The external auditor, Zhonghui Anda CPA Limited, confirmed that the consolidated financial statements fairly reflect the group's financial position as of June 30, 2024[102] Future Outlook and Strategy - The company aims to diversify its operations and stabilize revenue through investments in new ventures, including the establishment of a subsidiary focused on furniture manufacturing[45] - The company plans to focus resources on expanding marketing channels and enhancing brand influence, particularly in the southwestern market, while considering expansion into other regions when conditions permit[52] - The company intends to develop personalized and fashionable furniture products targeting young consumers and convenient, suitable furniture for elderly consumers[53] - The company aims to establish its own data center to reduce reliance on external suppliers and enhance competitiveness[55] Employee and Operational Changes - The company has a total of 142 employees as of June 30, 2024, down from 180 employees a year earlier[97] - Total employee cost for the reporting period is approximately RMB 14.6 million, down from RMB 18.3 million in the same period last year[97] Market Conditions - The overall demand in the furniture industry remains weak, leading to intensified market competition, with consumer purchasing habits significantly changing towards online shopping[46] - The overall market recovery in Guizhou and Yunnan provinces has not yet yielded positive results[47] Shareholder Information - The annual general meeting of shareholders is scheduled for October 14, 2024[107] - The company will suspend the processing of share transfer registration from October 8, 2024, to October 14, 2024, to determine the rights of shareholders attending the annual general meeting[107]
智昇集团控股(08370) - 2024 - 年度业绩