Financial Performance - Revenue for the fiscal year ending June 30, 2024, increased to HKD 524,823,000, up 31% from HKD 400,723,000 in the previous year[1] - The company reported a net loss of HKD 43,811,000 for the fiscal year, compared to a profit of HKD 389,000 in the previous year[2] - The loss attributable to the owners of the company was HKD 56,467,000, compared to a loss of HKD 10,029,000 in the previous year[2] - The company’s basic and diluted loss per share for the year was HKD 1.44, compared to HKD 0.26 in the previous year[2] - The group reported a total revenue of HKD 7,529,000 for the year ending June 30, 2024, compared to HKD 6,613,000 in the previous year, representing an increase of approximately 13.8%[11] - Logistics service revenue increased to HKD 456,052,000 in 2024 from HKD 352,125,000 in 2023, reflecting a growth of about 29.5%[11] - The group recognized mining sales revenue of HKD 25,027,000 for the first time in 2024, contributing to overall revenue growth[11] - The group’s segment performance showed a total segment profit of HKD 68,499,000 for the year, with logistics services contributing HKD 46,848,000[13] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 701,692,000, an increase from HKD 633,609,000 in the previous year[4] - Total liabilities increased to HKD 416,455,000 from HKD 307,409,000, reflecting higher borrowings and trade payables[5] - The company’s non-current assets in Hong Kong decreased from HKD 251,406,000 in 2023 to HKD 207,310,000 in 2024[20] - Trade receivables rose to HKD 261,930,000, up from HKD 194,492,000 in the previous year, indicating improved collection efforts[4] - Trade payables increased significantly to HKD 32,024,000 in 2024 from HKD 6,284,000 in 2023, reflecting a substantial rise in short-term obligations[40] - As of June 30, 2024, the group's borrowings included HKD 188,934,000 in unsecured factoring loans, an increase of 37.3% from HKD 137,641,000 as of June 30, 2023[15] Operating Costs and Expenses - The company reported a significant increase in direct operating costs for logistics services, rising to HKD 399,335,000 from HKD 297,117,000[1] - The group incurred a fair value loss of HKD 44,112,000 on investment properties during the reporting period[13] - The company incurred financing costs of HKD 7,291,000, with financing income of HKD 413,000, resulting in a net financing cost of HKD 6,878,000[24] - The group’s financing costs totaled HKD 9,859,000, impacting overall profitability[13] - Financing costs increased to HKD 9,900,000 from HKD 7,300,000, primarily due to loans from a director and increased bank unsecured factoring loans[58] Capital Expenditures - Capital expenditures for the logistics segment amounted to HKD 545,000, while the mining exploration segment had capital expenditures of HKD 13,459,000[13] - The company’s capital expenditure for the year was HKD 851,000, with a total of HKD 8,702,000 in allocated capital expenditures[14] - The total capital expenditure authorized but not contracted for exploration activities in Mongolia amounted to HKD 13,124,000, with the company's share being HKD 6,693,000[16] Revenue Sources - Major clients contributed significantly to revenue, with Client A generating HKD 227,343,000 and Client B contributing HKD 212,137,000 for the year ended June 30, 2024[22] - The logistics services segment generated revenue of HKD 352,125,000, while property investment contributed HKD 6,077,000, and mining exploration brought in HKD 29,120,000[14] - The company processed approximately 2,270,000 tons of freight in the fiscal year, indicating robust operational performance[54] - Logistics business accounted for approximately 91.7% of total revenue, while private jet management services contributed 6.2%[56] - The company’s private jet management services revenue increased to HKD 32,322,000 from HKD 29,120,000, indicating a growth of approximately 7.6%[11] Market Conditions - The commercial real estate demand in Hong Kong remained weak, affecting rental income and market conditions[48] - Rental income decreased slightly to HKD 5,136,000 from HKD 6,077,000, reflecting a decline of about 15.5%[11] - Rental income for the year ended June 30, 2024, was HKD 5,136,000, down from HKD 6,077,000 in 2023, while direct operating expenses for investment properties increased slightly from HKD 1,096,000 to HKD 1,147,000[33] Exploration and Development - The company has a mining license in western Mongolia, which was granted for an initial term of 30 years, with the potential for two 20-year extensions[35] - The geological exploration work for the Zilong project was successfully conducted, marking the completion of the 2023 geological exploration report in April and May 2024[49] - The exploration focus in 2023 included identifying volcanic centers and significant copper-gold mineralization over a distance of 5,000 meters, indicating potential for further exploration[51] - The company identified 25 geochemical anomaly areas in the southern licensed region, expanding the distribution of copper and gold mineralization[52] - The company is evaluating the feasibility of heap leaching technology for the Zilong project, which has the potential to reduce capital expenditure and accelerate project development[52] Governance and Compliance - The company has adopted a self-regulatory code for directors' securities trading, which is more lenient than the standard code outlined in the listing rules[70] - The audit committee consists of four independent non-executive directors, with Mr. Liu Wei Biao serving as the chairman, possessing appropriate professional qualifications and knowledge in accounting and financial management[71] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, with all required information included in the annual report to be sent to shareholders[73] Dividends - The company has no proposed final dividend for the year ending June 30, 2024, compared to no dividend in the previous year[45]
远见控股(00862) - 2024 - 年度业绩