Financial Performance - The group recorded revenue of approximately HKD 122,320,000 for the year ended June 30, 2024, representing an increase of about 4.00% compared to HKD 117,610,000 in the previous fiscal year[1]. - The loss attributable to the owners of the company was approximately HKD 27,560,000, a slight improvement from a loss of HKD 28,540,000 in 2023[1]. - The group reported a pre-tax loss of HKD 20,972,000, an improvement from a pre-tax loss of HKD 27,205,000 in 2023[2]. - The group reported total revenue of HKD 122.318 million, with significant contributions from VR and digital entertainment at HKD 89.358 million[17]. - The company reported a net loss of HKD 7,996,000 for other income, gains, and losses in 2024, compared to a net gain of HKD 1,063,000 in 2023[27]. - The company recorded a fair value loss of HKD 17,408,000 in 2024, compared to a loss of HKD 13,983,000 in 2023, indicating a worsening in financial performance[24]. - The company reported a pre-tax loss of HKD 27,558,000 for 2024, compared to a loss of HKD 28,541,000 in 2023, indicating a slight improvement in performance[33]. Revenue Breakdown - Revenue from private education services was HKD 30,524,000, up from HKD 27,125,000 in 2023, marking an increase of approximately 8.84%[2]. - Revenue from virtual reality (VR) and digital entertainment services was HKD 89,358,000, slightly up from HKD 88,813,000 in the previous year[2]. - Revenue from STEAM education services was approximately HKD 1,880,000, a slight increase of about 2.73% from HKD 1,830,000 in the previous fiscal year[48]. - Revenue from VR product sales and related services was approximately HKD 2,260,000, while game product sales generated approximately HKD 87,100,000, compared to HKD 4,820,000 and HKD 83,990,000 in 2023 respectively[48]. - Revenue from major clients for the year ending June 30, 2024, includes Client A at HKD 79,395,000, a significant increase from HKD 39,671,000 in 2023[25]. - Total revenue from major services for the year ending June 30, 2024, reached HKD 122,318,000, up from HKD 117,612,000 in 2023, reflecting a growth of approximately 4.8%[26]. Assets and Liabilities - The current ratio was approximately 6.04 times, while the debt-to-equity ratio was about 24.16% as of June 30, 2024[1]. - Total assets less current liabilities amounted to HKD 129,590,000, compared to HKD 116,123,000 in the previous year[5]. - The net asset value attributable to the owners of the company was HKD 104,630,000, down from HKD 111,608,000 in 2023[5]. - The group’s total liabilities decreased from HKD 53,354,000 in 2023 to HKD 17,898,000 in 2024[4]. - The group's total assets amounted to HKD 123.890 million, with liabilities of HKD 38.002 million as of June 30, 2024[22]. - The capital debt ratio as of June 30, 2024, was approximately 24.16%, down from 33.15% in 2023[68]. Expenses and Costs - Total employee costs increased to HKD 30,576,000 in 2024 from HKD 27,058,000 in 2023, reflecting a rise of approximately 18.5%[31]. - Financial expenses for the year ending June 30, 2024, totaled HKD 2,781,000, an increase from HKD 2,103,000 in 2023, representing a rise of approximately 32.2%[30]. - Depreciation expenses for property, plant, and equipment amounted to HKD 1,042,000 in 2024, compared to HKD 899,000 in 2023, reflecting an increase of approximately 15.9%[24]. - Marketing expenses decreased significantly by approximately HKD 1,090,000 or 28.68% to about HKD 2,710,000, primarily due to the absence of a one-time collaboration with a YouTube channel in the previous fiscal year[63]. - Other operating expenses decreased by approximately HKD 2,400,000 or 22.04% to about HKD 8,500,000, mainly due to reduced business hospitality expenses and transaction fees[64]. Corporate Governance and Compliance - The company has complied with the corporate governance code, although there are vacancies for the CEO and Chairman positions since November and December 2017, respectively[83]. - The board of directors only held two regular meetings during the year, which is below the recommended frequency of at least four meetings[84]. - The company’s auditors have reviewed the consolidated financial statements for the year, ensuring compliance with accounting principles[88]. Future Outlook and Strategy - The group plans to introduce its AI-assisted education platform in China, capitalizing on the growing demand for digital and intelligent education[67]. - The group aims to diversify its business and provide more professional educational support to retail customers and enterprises[67]. - The group anticipates that the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[14]. Credit and Loan Management - The company expects to maintain strict control over its outstanding loans, with interest rates ranging from 9% to 15%[39]. - The company actively monitors repayment records and engages with clients regarding overdue payments, taking legal action when necessary[53]. - Hanfu's total loans as of June 30, 2024, amounted to HKD 28,327,000, with secured loans accounting for 17.65% and unsecured loans for 82.35%[55]. - The company reported a significant increase in overdue loans, with total overdue loans amounting to approximately HKD 4,460,000 as of June 30, 2024, compared to HKD 3,520,000 in 2023[56]. - The company has recognized additional impairment losses of approximately HKD 998,000 for the current year, compared to HKD 22,000 in 2023[56].
源宇宙教育(01082) - 2024 - 年度业绩