Financial Performance - Total revenue for the fiscal year ending June 30, 2024, was HKD 41,057,000, a decrease of 56.2% from HKD 93,673,000 in the previous year[1] - Gross profit for the fiscal year was HKD 21,630,000, down from HKD 23,503,000, representing a decline of 7.9%[1] - The company reported a net loss of HKD 54,434,000 for the fiscal year, compared to a net loss of HKD 43,666,000 in the previous year, indicating a 24.5% increase in losses[2] - Total comprehensive loss for the year was HKD 66,173,000, a decrease from HKD 75,740,000, reflecting an improvement of 12.8%[3] - Total revenue for the year 2024 was HKD 41,057 thousand, down from HKD 94,639 thousand in 2023, indicating a decrease of about 56.7%[14] - The company reported a total loss before tax of HKD 48,215 thousand for the year, compared to a loss of HKD 54,434 thousand after tax[15] - The company reported a significant decrease in revenue from the China market, dropping to HKD 29,708,000 in 2024 from HKD 88,258,000 in 2023[21] - Annual losses increased by approximately 25% from HKD 43,666,000 in FY2023 to HKD 54,434,000 in FY2024, mainly due to litigation provisions and fair value losses on financial assets[72] Assets and Liabilities - Non-current assets increased to HKD 474,052,000 from HKD 349,304,000, marking a growth of 35.7%[4] - Current liabilities rose slightly to HKD 403,047,000 from HKD 401,822,000, an increase of 0.3%[4] - The company's total assets decreased to HKD 870,626,000 from HKD 897,996,000, a decline of 3.1%[4] - The company’s equity attributable to owners decreased to HKD 771,676,000 from HKD 797,464,000, a reduction of 3.2%[5] - Total assets as of June 30, 2024, amounted to HKD 1,273,673,000, with liabilities of HKD (501,141,000) resulting in a net asset position of HKD 772,532,000[16] - The company’s total liabilities decreased slightly from HKD (497,671,000) in 2023 to HKD (501,141,000) in 2024[18] - The company had a total equity of HKD 772,532,000 and total bank borrowings of HKD 199,987,000 as of June 30, 2024, with a debt-to-equity ratio of approximately 26%[73] Revenue Segmentation - Revenue from property sales in China decreased to HKD 27,885 thousand in 2024 from HKD 88,186 thousand in 2023, representing a decline of approximately 68.4%[14] - The resort and property development segment generated revenue of HKD 27,885 thousand, while the property investment segment contributed HKD 6,616 thousand[15] - The investment holding segment's revenue was HKD 6,448 thousand, while the autonomous driving segment generated HKD 108 thousand[15] - Rental and management income from investment properties amounted to HKD 6,616,000 in the fiscal year 2024, an increase from HKD 4,823,000 in 2023[52] Expenses and Costs - The company incurred financing costs of HKD 10,098,000, compared to HKD 9,429,000 in the previous year, an increase of 7.1%[1] - Employee costs rose to HKD 12,917,000 in 2024, compared to HKD 12,434,000 in the previous year[25] - Sales expenses increased by approximately 47% from HKD 2,639,000 in FY2023 to HKD 3,890,000 in FY2024, mainly due to new sales activities in the autonomous driving division[67] - Administrative expenses increased by approximately 7% from HKD 26,096,000 in FY2023 to HKD 27,919,000 in FY2024, primarily due to costs associated with newly established subsidiaries[68] - Financing costs rose by about 7% from HKD 9,429,000 in FY2023 to HKD 10,098,000 in FY2024, attributed to rising interest rates[70] Legal and Provisions - The company recorded a legal provision of HKD 43,031,000 in 2024, which was not present in the previous year[25] - The company recognized additional provisions for legal claims amounting to HKD 43,031,000 during the year, resulting in a total provision of HKD 42,756,000 by the end of the reporting period[43] - The company is involved in ongoing litigation related to claims amounting to RMB 40,000,000 plus interest, with a court ruling requiring the company to provision for 50% of the outstanding amount[43] - Other expenses included a litigation provision of HKD 43,031,000, with the company appealing a court judgment[69] Fair Value and Investments - The company reported a significant increase in investment property fair value gains to HKD 26,243,000 from a loss of HKD 14,200,000, indicating a turnaround in property valuation[1] - The fair value of investment properties at the end of June 30, 2024, was HKD 407,624,000, an increase from HKD 280,900,000 at the beginning of the reporting period[29] - The fair value of the Group's investment in the Green Asia Fund at the end of the reporting period was approximately HKD 7,085,000, down from HKD 15,219,000 in 2023[33] - The fair value of the Group's investment in the Huangpu River Fund was approximately HKD 47,065,000, compared to HKD 53,659,000 in 2023[33] - The fair value of financial assets measured at fair value through profit or loss was approximately HKD 20,921,000, down from HKD 27,244,000 in 2023[33] Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all applicable provisions for the fiscal year 2024, except for the separation of the roles of Chairman and CEO[82] - The Chairman, Mr. Ng, also serves as the Acting CEO, with the board believing this does not compromise the balance of power and responsibilities within the management[82] - The audit committee has reviewed and formally approved the consolidated financial statements and annual results for the fiscal year 2024[84] - The financial figures in the preliminary announcement for the fiscal year 2024 have been agreed upon by the company's auditor, but no assurance or opinion has been provided regarding these figures[85] - The annual results announcement is available on the Stock Exchange and the company's website for public access[86]
诺科达科技(00519) - 2024 - 年度业绩