Financial Performance - For the fiscal year ending June 30, 2024, the company reported a revenue of HKD 441,951,000, a slight increase from HKD 440,600,000 in the previous year, representing a growth of 0.3%[1] - The gross loss for the year was HKD 196,448,000, compared to a loss of HKD 125,596,000 in the previous year, indicating a deterioration in performance[2] - The company reported a basic loss per share of HKD 1.74, compared to HKD 1.18 in the previous year, indicating a worsening loss per share[1] - The company’s total comprehensive loss for the year was HKD (196,448) thousand, compared to HKD (125,596) thousand in the previous year, reflecting a worsening financial position[20] - The company reported a loss of approximately HKD 196,448,000 for the current year, compared to a loss of HKD 125,596,000 in the previous year[29] Assets and Liabilities - Total assets decreased to HKD 869,556,000 from HKD 1,073,509,000, reflecting a decline of approximately 19% year-over-year[3] - The company’s total liabilities decreased to HKD 82,665,000 from HKD 103,439,000, a reduction of approximately 20%[4] - The total equity attributable to the owners of the company was HKD 786,891,000, down from HKD 970,070,000, marking a decline of approximately 19%[4] - The company’s bank borrowings were approximately HKD 100,000 as of June 30, 2024, significantly reduced from HKD 10.5 million on June 30, 2023[69] Revenue Breakdown - Revenue from consumer goods sales decreased to HKD 266,463,000 in 2024 from HKD 273,726,000 in 2023, reflecting a decline of about 2.3%[15] - Revenue from agricultural products sales increased to HKD 172,500,000 in 2024, up from HKD 163,635,000 in 2023, showing a growth of approximately 5.3%[15] - Revenue from external customers for the Fast-Moving Consumer Goods (FMCG) segment was HKD 266,463,000, while the Agricultural Products segment generated HKD 172,500,000, totaling HKD 441,951,000[18] Operational Changes and Strategies - The company plans to continue focusing on its two reportable segments, FMCG and Agricultural Products, to optimize resource allocation and market strategies[18] - The group is actively seeking new types of fertilizers from overseas suppliers to strengthen its upstream farming business and ensure reliable and diversified quality fertilizer supply for its Jiangxi agricultural base[41] - The group has been reducing operations in its securities brokerage and margin financing business due to weak capital market activities, with plans to continue this process until complete withdrawal from the business unit[40] Market Conditions and Challenges - The company continues to face challenges in its traditional import product trade due to a competitive domestic market and a weakening RMB[39] - Retail sales growth in the second half of the fiscal year was only between 2% to 3%, indicating consumer reluctance to spend amid economic downturns[39] - The group faces significant risks from economic and financial market volatility, which could adversely affect its operations and financial performance[56] Financial Management and Governance - The group emphasizes environmental policies and has implemented various measures to conserve resources and promote recycling in its operations[62] - The group is committed to compliance with relevant laws and regulations, with no significant violations reported during the fiscal year 2023/2024[64] - The audit committee has reviewed the consolidated financial statements for the year ending June 30, 2024, confirming consistency with the figures audited by the external auditor[89] Future Outlook - The group will cautiously pursue new developments in agricultural business units based on market demand and financial feasibility[83] - The company continues to improve its product mix and procurement strategies to enhance competitiveness and profitability in a challenging economic environment[49] - The group plans to enhance and expand its procurement network, sourcing more suitable specialty products from international and domestic suppliers[82]
亨泰(00197) - 2024 - 年度业绩