Financial Performance - The total revenue for the year ended June 30, 2024, was HKD 528,910,000, representing an increase of 8.7% compared to HKD 486,378,000 in the previous year[1] - Gross profit for the same period was HKD 33,480,000, up from HKD 26,706,000, indicating a significant improvement in profitability[1] - The net profit for the year was HKD 3,888,000, a turnaround from a net loss of HKD 1,294,000 in the previous year[1] - The company reported a total comprehensive income of HKD 2,500,000, compared to a comprehensive loss of HKD 1,294,000 in the prior year[2] - Basic and diluted earnings per share for the year were HKD 0.07, recovering from a loss per share of HKD 0.02 in the previous year[2] - The total profit before tax for the fiscal year ending June 30, 2024, was HKD 3,876,000, a recovery from a loss of HKD 1,225,000 in the previous year[12] - The profit for the year was approximately HKD 3.9 million, a significant increase of about HKD 5.2 million or 400% compared to a loss of HKD 1.3 million in the previous year[26] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 234,201,000, a slight increase from HKD 225,838,000 in the previous year[3] - Current assets included trade and other receivables of HKD 66,359,000, up from HKD 64,231,000, reflecting improved receivables management[3] - Total liabilities increased to HKD 99,789,000 from HKD 93,847,000, primarily due to higher trade and other payables[4] - The total contract assets amounted to HKD 69.861 million, a slight decrease from HKD 70.330 million in the previous year[23] - The debt-to-equity ratio increased to approximately 3.3% from 1.3% in 2023, attributed to a significant increase in lease liabilities[41] Revenue Segments - The maintenance segment generated revenue of HKD 482,944,000, while the renovation segment contributed HKD 45,966,000, indicating a significant increase in maintenance revenue compared to HKD 377,186,000 in the previous year[12] - The revenue from building maintenance services increased by approximately HKD 105.7 million or 28% to about HKD 482.9 million, while revenue from renovation services decreased by approximately HKD 63.2 million or 58% to about HKD 46.0 million[32] - The company has one major customer contributing over 10% of total revenue, with this customer generating HKD 482,944,000 in the current year, up from HKD 377,187,000 in the previous year[14] Operational Highlights - The company continues to focus on expanding its building maintenance and renovation services, which are its core business operations[5] - The company aims to focus on opportunities in its core business of building maintenance, particularly in the public sector, while also seeking new projects in the private sector as awareness of building renovations increases in Hong Kong[31] - The company successfully secured a new building maintenance contract valued at approximately HKD 374.1 million, which commenced in July 2024[29] - The company completed 1 building maintenance contract during the year[27] - The company had 4 building maintenance contracts with an estimated contract value of approximately HKD 1,610 million as of June 30, 2024, compared to HKD 1,587 million in the previous year[27] Expenses and Costs - Administrative expenses decreased by approximately HKD 1.6 million or 4.5% to about HKD 34.1 million due to reduced operating costs[35] - The finance costs for the fiscal year ending June 30, 2024, were HKD 89,000, a decrease from HKD 244,000 in the previous year[15] - Financing costs decreased to approximately HKD 0.1 million from HKD 0.3 million in 2023, primarily due to a reduction in finance lease obligations[36] Compliance and Governance - The company has adopted new accounting standards effective from July 1, 2023, which are not expected to have a significant impact on current or future periods[7] - The company is currently evaluating the impact of new accounting standards on its financial statements, particularly the significant changes introduced by HKFRS 18, effective from January 1, 2027[9] - The company is reassessing its accounting policy disclosures to ensure compliance with revised requirements, indicating a proactive approach to regulatory changes[9] - The board of directors consists of three executive directors and three independent non-executive directors[52] - The chairman of the board is Ms. Ma Huijun[52] Other Information - The company had no dividends declared or proposed for the fiscal year ending June 30, 2024, consistent with the previous year[16] - The group recorded a profit of approximately HKD 3.9 million compared to a loss of HKD 1.3 million in 2023, mainly due to increased maintenance revenue and improved gross margins in two segments[38] - As of June 30, 2024, the group had cash and bank balances totaling approximately HKD 46.7 million, down from HKD 83.6 million in 2023[39] - The actual tax rate for the current year was approximately 0.31%, compared to -5.6% in 2023, primarily due to changes in deferred tax[37] - The group has provided a performance guarantee of HKD 1.25 million as of June 30, 2024, down from HKD 2.449 million in 2023[45] - The group employed approximately 148 staff as of June 30, 2024, an increase from 120 in 2023[46] - The annual report will be published on the company's and the Hong Kong Stock Exchange's websites at an appropriate time[52]
中国供应链产业(03708) - 2024 - 年度业绩