Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of HKD 296,242,000, a decrease of 44.6% compared to HKD 534,445,000 in the previous year[1] - Gross profit for the same period was HKD 83,730,000, down 62.1% from HKD 220,776,000 year-on-year[1] - The company recorded a net profit attributable to shareholders of HKD 17,145,000, a significant decline of 77.9% from HKD 77,486,000 in the prior year[1] - Basic and diluted earnings per share were HKD 3.57, compared to HKD 16.14 in the previous year, reflecting a decrease of 77.9%[1] - Total comprehensive income attributable to shareholders was HKD 16,086,000, down 75.8% from HKD 64,934,000 year-on-year[2] - Revenue decreased by approximately 44.6% from about HKD 534.4 million for the year ended June 30, 2023, to approximately HKD 296.2 million for the year ending June 30, 2024[38] Revenue Breakdown - Revenue from major customers included HKD 180,482,000 from Customer A and HKD 34,971,000 from Customer B, with Customer A's revenue decreasing by 53.0% from HKD 384,213,000 in 2023[12] - Revenue from packaging printing services fell by about 58.8% to approximately HKD 73.3 million for the year ending June 30, 2024, down from approximately HKD 177.7 million[31] - Revenue from paper gift set printing decreased by approximately 36.7% to about HKD 188.4 million for the year ending June 30, 2024, compared to approximately HKD 297.7 million[32] - Revenue from color card printing services declined by about 32.1% to approximately HKD 19.0 million for the year ending June 30, 2024[33] - Revenue from smart packaging printing services decreased by approximately 53.2% to about HKD 9.5 million for the year ending June 30, 2024[34] - Other printing revenue fell by approximately 43.9% to about HKD 6.0 million for the year ending June 30, 2024[35] Assets and Liabilities - Non-current assets decreased to HKD 258,780,000 from HKD 290,989,000, a decline of 11.1%[3] - Current assets totaled HKD 373,656,000, down from HKD 407,818,000, representing a decrease of 8.4%[3] - Total liabilities decreased to HKD 152,693,000 from HKD 209,710,000, a reduction of 27.2%[3] - The company’s net assets attributable to shareholders were HKD 479,743,000, down from HKD 489,097,000, a decrease of 1.4%[3] - As of June 30, 2024, the company's net assets were approximately HKD 479.7 million, down from HKD 489.1 million as of June 30, 2023, mainly due to dividend payments[46] Cash Flow and Expenditures - The company’s cash and cash equivalents increased to HKD 316,885,000 from HKD 305,757,000, an increase of 3.7%[3] - Cash and bank balances as of June 30, 2024, were approximately HKD 317.0 million, an increase from HKD 305.9 million as of June 30, 2023, with a current ratio of approximately 7.1 compared to 4.1 in the previous year[46] - The company recorded capital expenditures of over HKD 5.4 million during the year, primarily allocated for automation, equipment upgrades, and lease renovations[47] Expenses and Costs - The cost of goods sold for the year was HKD 212,512,000, down 32.3% from HKD 313,669,000 in 2023[16] - Administrative expenses decreased from approximately HKD 106.3 million for the year ended June 30, 2023, to about HKD 72.1 million for the year ending June 30, 2024[41] - The direct labor costs for the year ending June 30, 2024, were approximately HKD 27.2 million, compared to HKD 58.4 million for the year ending June 30, 2023[49] Taxation and Dividends - The estimated taxable profit in Hong Kong was calculated at a tax rate of 16.5%, with a two-tier tax rate applicable for one subsidiary at 8.25% for the first HKD 2 million[20] - Income tax expenses decreased significantly from approximately HKD 26.5 million for the year ending June 30, 2023, to about HKD 0.9 million for the year ending June 30, 2024, with the effective tax rate dropping from approximately 25.5% to 5.1%[45] - The company proposed an interim dividend of HKD 0.01 per share for 2024, compared to HKD 0.022 per share in 2023[20] - The board proposed a final cash dividend of HKD 0.025 per share, bringing the total dividends for the year to HKD 0.035 per share, down from HKD 0.065 per share in the previous year[50] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the fiscal year ending June 30, 2024[55] - The audit committee, consisting of three independent non-executive directors, reviewed the financial results for the year ending June 30, 2024[58] - The preliminary results published by the company were verified by Ernst & Young, confirming consistency with the draft consolidated financial statements[59] - The annual report for the fiscal year ending June 30, 2024, will be distributed to shareholders and published on the company's website[60] Market Conditions and Challenges - The company faced ongoing challenges due to geopolitical tensions and economic uncertainties affecting the printing industry[25] - The group has only one reportable operating segment, which is the manufacturing and sale of printed products[10]
新兴印刷(01975) - 2024 - 年度业绩