Financial Performance - Revenue for the year ended June 30, 2024, was HKD 795,700,000, a significant increase of 112.5% compared to HKD 374,316,000 in the previous year[1] - Gross profit for the same period was HKD 67,224,000, up from HKD 12,155,000, reflecting a gross margin improvement[1] - The company reported a pre-tax loss of HKD 110,956,000, an improvement from a loss of HKD 164,198,000 in the prior year[2] - Total comprehensive income for the year was HKD (89,662,000), compared to HKD (200,525,000) in the previous year, indicating a reduction in losses[2] - The company reported a basic and diluted loss per share of HKD (0.75), an improvement from HKD (1.48) in the previous year[2] - The company recorded a loss of HKD 89,247,000 for the year ending June 30, 2024[16] - The company reported a total loss of HKD 96,458,000 for the year ended June 30, 2024, compared to a loss of HKD 40,187,000 in the previous year, indicating a deterioration in performance[21] - The loss attributable to the company's owners was approximately HKD 88.5 million, a decrease of 49.8% from a loss of HKD 176.2 million in the previous year[56] Assets and Liabilities - Current assets totaled HKD 358,687,000, slightly up from HKD 352,088,000 year-over-year[3] - Total liabilities increased to HKD 404,822,000 from HKD 342,925,000, leading to a net current liability position of HKD (46,135,000)[3] - Non-current assets decreased to HKD 1,008,628,000 from HKD 1,094,772,000, primarily due to a decline in investment properties[3] - Total equity decreased to HKD 798,726,000 from HKD 888,155,000, reflecting a reduction in reserves[4] - The company's total debt was HKD 262,434,000, with HKD 156,604,000 due within the next 12 months[16] - The company's total liabilities increased to HKD 568,589,000 in 2024 from HKD 558,705,000 in 2023, indicating a rise of approximately 1.6%[24] - The company’s total equity as of June 30, 2024, was HKD 379,726,000, down from HKD 464,155,000 as of June 30, 2023[23] Revenue Breakdown - Revenue from customer contracts for the sale of goods was HKD 785,198,000 for the year 2024, compared to HKD 362,204,000 in 2023, representing a significant increase[18] - For the fiscal year ending June 30, 2024, total revenue reached HKD 795,700,000, with cable and wire contributing HKD 248,137,000 and copper rods contributing HKD 537,061,000[27] - The revenue from the copper rod business was approximately HKD 537.1 million, a significant increase of 241.9% compared to HKD 157.1 million in the previous year[59] - The revenue from the wire and cable business was approximately HKD 248.1 million, an increase of 21.0% from HKD 205.1 million in the previous year[58] - Revenue from external customers in China for the year ended June 30, 2024, was HKD 675,323,000, a substantial increase from HKD 264,041,000 in the previous year, representing a growth of approximately 155.6%[26] Operational Challenges - The company experienced a foreign exchange loss of HKD 22,992,000 during the year, which contributed to the overall loss reported[6] - The company has undergone a reclassification adjustment resulting in a foreign exchange difference of HKD 5,766,000 during the year[6] - The company plans to implement measures to enhance profitability and operational cash flow, including renegotiating sales terms and controlling employee costs[16] - The group anticipates a challenging operating environment in the coming year due to high interest rates and a sluggish rental market[62] Corporate Governance - The company has adopted the corporate governance code and has complied with all relevant provisions, except for specific deviations noted in the report[81] - All independent non-executive directors have served for over nine years, requiring shareholder approval for their continued appointment[82] - The company is currently seeking a new independent non-executive director to comply with governance code requirements[86] - The company will announce further details regarding the appointment of a new independent non-executive director in due course[86] Legal Matters - The legal proceedings against certain directors were withdrawn by the Hong Kong High Court on August 28, 2024[79] - The indirect non-wholly owned subsidiary, Zhou's Stone, was ordered to pay approximately RMB 21,000,000 due to a lawsuit related to halted construction projects since 2020[80] - The Guangdong Province Zhanjiang Intermediate People's Court will review the case again in March 2024 after the initial judgment was deemed unclear[80] - The company has been seeking legal advice and will keep shareholders and potential investors informed of any significant developments regarding the lawsuit[80] Future Outlook - The group continues to seek potential business partners and new business opportunities to diversify and sustain growth[62] - The group expects that the application of the new guidance will not have a significant impact on its consolidated financial statements[10] - The group does not expect significant effects from the upcoming amendments on its consolidated financial statements[13]
星凯控股(01166) - 2024 - 年度业绩