Financial Performance - Total revenue for the year ended June 30, 2024, was HKD 1,188,528, an increase from HKD 431,937 in the previous year, representing a growth of 174%[1] - Gross profit for the year was HKD 93,380, compared to HKD 21,273 in the previous year, indicating a significant increase in profitability[1] - The net profit for the year was HKD 363,441, a turnaround from a net loss of HKD 328,507 in the previous year[1] - Earnings per share for the year were HKD 29.39, compared to a loss per share of HKD 24.46 in the previous year[1] - The company reported a significant increase in financial assets at fair value through profit or loss, rising to HKD 1,793,152 from HKD 886,384[3] - The company recorded other income of HKD 380,428, a substantial improvement from a loss of HKD 136,337 in the previous year[1] - The segment performance showed a profit of HKD 526,284, with a net loss of HKD 52,031 in other areas, resulting in a consolidated profit before tax of HKD 396,018[13] - The company reported a net gain from changes in fair value of HKD 379,870 from financial assets measured at fair value through profit or loss[14] - The company reported a comprehensive loss before tax of HKD (355,841,000)[16] - The company reported a net profit attributable to shareholders of HKD 390,031,000 for the fiscal year ending June 30, 2024, compared to a net loss of HKD 318,547,000 for the previous fiscal year[35] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 4,219,922, up from HKD 3,902,190 in the previous year, reflecting a growth of 8%[3] - The company's equity attributable to owners increased to HKD 3,841,774 from HKD 3,545,239, marking a rise of 8.4%[4] - Cash and cash equivalents stood at HKD 574,680, slightly up from HKD 555,169 in the previous year[3] - Total assets for the segments were reported at HKD 2,548,177, with total liabilities amounting to HKD 214,380[14] - The group's non-current assets were valued at HKD 1,633,082,000 as of June 30, 2024, down from HKD 2,025,899,000 a year earlier, while current assets net value increased to HKD 2,252,960,000 from HKD 1,569,339,000[60] - Total borrowings (excluding lease liabilities) increased to HKD 280,105,000 as of June 30, 2024, from HKD 183,240,000 a year earlier, reflecting a rise in financial leverage[60] - The total liabilities amounted to HKD 316,902,000, with HKD 260,605,000 in reportable segments[17] Revenue Sources - The total revenue for the group amounted to HKD 1,188,528 thousand, with a significant contribution from commodity trading, particularly iron ore, generating HKD 1,169,403 thousand[9] - The group’s revenue from other sources, including interest income from loans, was reported at HKD 19,125 thousand, reflecting a diverse income stream[9] - Total revenue from external customers reached HKD 431,937,000, with HKD 407,776,000 from commodity business and HKD 24,161,000 from financial services[16] - Total revenue for the segment reached HKD 1,169,403, with external customer revenue contributing HKD 1,188,528, including interest income of HKD 19,125[13] Expenses and Costs - Administrative expenses increased to HKD 78,391 from HKD 67,397, reflecting a rise of 16%[1] - The total cost of goods sold for 2024 was HKD 1,117,125,000, significantly higher than HKD 401,786,000 in 2023, indicating an increase of about 177%[24] - Employee costs increased to HKD 46,053,000 in 2024 from HKD 31,514,000 in 2023, reflecting a rise of approximately 46%[24] - The company incurred a total tax expense of HKD 32,340, reflecting its operational costs[15] - The company reported a tax expense of HKD 32,577,000 in 2024, compared to a tax credit of HKD 27,334,000 in 2023, resulting in a change of HKD 59,911,000[26] Investments and Strategic Initiatives - The group operates three reportable segments: Commodity Trading, Resource Investment, and Major Investment and Financial Services, with performance monitored based on sales generated and expenses incurred[10][11] - The company plans to maintain its strategic investments in Mount Gibson, Tanami Gold, Metals X, and Prodigy Gold, with respective ownership stakes of 37.3%, 46.3%, 22.8%, and 44.3%[36] - The investment strategy generated a return of 17.4%, significantly outperforming the benchmark return of -2.9% by 20.3%[47] - The small-cap mining investment portfolio achieved a return of 558.6% since its inception, significantly outperforming its benchmark return of -1.0%[46] - The company recognized an impairment loss of HKD 80,423,000 related to its equity interests in joint ventures, primarily due to write-downs from Mount Gibson and Tanami Gold[36] Risk Management and Governance - The group has implemented a comprehensive risk management framework, regularly reviewing and updating policies to address market conditions and business strategy changes[64] - The group has not actively hedged against currency risks arising from its assets denominated in AUD, while liabilities are primarily in USD and HKD, indicating a potential exposure to foreign exchange fluctuations[61] - The company has established strict internal controls and reporting systems to manage operational risks effectively[66] - The audit committee has reviewed the company's performance for the year ending June 30, 2024[75] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ending June 30, 2024[74] Future Outlook - The global economic outlook for 2024 is complex, with concerns over global demand and rising inventory levels, particularly affecting key commodities like copper and iron ore[70] - The company aims to regularly review its investment strategy to mitigate risks associated with market fluctuations, influenced by commodity prices, interest rates, and geopolitical conditions[69] - The cash ratio in the investment portfolio has slightly increased, indicating a cautious approach while seeking quality companies for long-term returns[70]
亚太资源(01104) - 2024 - 年度业绩