Financial Performance - For the fiscal year ending June 30, 2024, the company reported a revenue of HKD 126,751,000, compared to HKD 98,375,000 in the previous year, representing a year-over-year increase of 28.7%[1] - The company incurred a net loss of HKD 49,028,000 for the year, significantly higher than the loss of HKD 6,552,000 in the prior year, indicating a deterioration in financial performance[2] - The basic and diluted loss per share increased to HKD 2.60 from HKD 0.56, reflecting a substantial decline in profitability[2] - Total comprehensive loss for the year was HKD 52,660,000, compared to HKD 45,256,000 in the previous year, showing an increase of 16.5%[2] - The group reported a pre-tax loss of HKD 45,487,000 for the year ended June 30, 2024, compared to a pre-tax profit of HKD 540,000 for the year ended June 30, 2023[8] - The group reported a net loss of HKD 22,012,000 for the year ended June 30, 2024, driven by high impairment losses and financing costs[7] - The company reported a net loss of approximately HKD 50,485,000 for the year, compared to a net loss of HKD 10,849,000 in the previous year[18] - The company recorded a loss of HKD 53.1 million in total comprehensive loss for the year ending June 30, 2024, compared to HKD 39.3 million in the previous year, indicating a 35% increase in comprehensive loss[37] Assets and Liabilities - Non-current assets decreased from HKD 1,043,487,000 in 2023 to HKD 1,298,641,000 in 2024, indicating a reduction in asset value[3] - The total liabilities increased from HKD 188,898,000 in 2023 to HKD 214,844,000 in 2024, indicating a rise in financial obligations[3] - The total liabilities of the group as of June 30, 2024, were HKD 340,320,000, with the credit business liabilities amounting to HKD 115,421,000[9] - The company's equity attributable to owners was approximately HKD 1,061.8 million as of June 30, 2024, down from HKD 1,114.9 million the previous year due to losses incurred[43] - The total borrowings amounted to approximately HKD 209.6 million as of June 30, 2024, an increase from HKD 108.0 million the previous year[45] - The company's total liabilities increased to HKD 151,708,000 in 2024 from HKD 54,477,000 in 2023, marking a significant increase of 178%[32] Revenue Segments - The credit business generated revenue of HKD 70,434,000 with a segment loss of HKD 13,225,000, while the hotel operations segment reported revenue of HKD 20,342,000 and a segment profit of HKD 12,000[7] - The property leasing business reported revenue of HKD 35,975,000 but incurred a segment loss of HKD 8,799,000, primarily due to a fair value loss on investment properties of HKD 27,427,000[7] - Revenue from external customers in Hong Kong for the year ended June 30, 2024, was HKD 92,149,000, up from HKD 62,867,000 in the previous year, while revenue from China was HKD 34,602,000, slightly down from HKD 35,508,000[12] - The average hotel occupancy rate reached 95.1% for the year ending June 30, 2024, with room revenue of approximately HKD 20.3 million, significantly improved from HKD 11.3 million the previous year[41] Receivables and Impairments - The company reported an increase in receivables from HKD 189,167,000 in 2023 to HKD 257,241,000 in 2024, reflecting improved credit management or sales growth[3] - The company's receivables from loans, net of provisions, increased to HKD 362,494,000 from HKD 286,633,000, indicating a growth of 26.4%[23] - The total receivables for loans reached approximately HKD 402.3 million as of June 30, 2024, an increase of about HKD 97.9 million from HKD 304.4 million the previous year[40] - The impairment provision for receivables increased to HKD 39,844,000 in 2024 from HKD 17,803,000 in 2023, reflecting a significant rise in default probabilities[25] - The total overdue receivables exceeding 365 days decreased to HKD 26,714,000 in 2024 from HKD 31,949,000 in 2023[24] - The provision for estimated irrecoverable trade receivables was approximately HKD 338,000 as of June 30, 2024, down from HKD 794,000 in the previous year, representing a 57% decrease[30] Governance and Management - The board of directors is composed of executive directors including the chairperson, Lian Qiwen, and Zhang Yiwei, along with non-executive and independent non-executive directors[67] - The company is focused on maintaining a strong leadership team to guide its strategic initiatives and market expansion efforts[67] - The presence of independent directors suggests a commitment to transparency and accountability in corporate practices[67] - The board's composition may reflect the company's commitment to stakeholder interests and long-term value creation[67] - The audit committee reviewed the group's annual performance for the year ended June 30, 2024, and found that the financial statements complied with applicable accounting standards[59] Strategic Initiatives - The group plans to continue enhancing its property leasing business in China, which provides stable cash flow and serves as a significant source of revenue and profit[42] - The group continues to seek appropriate investment opportunities that align with its business strategy[53] - The company is likely to continue exploring new strategies for growth and market penetration[67] Miscellaneous - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not result in significant changes to accounting policies or financial statement presentation[5] - The company did not recommend any dividends for the years ended June 30, 2024, and June 30, 2023[20] - The company has no significant contingent liabilities as of June 30, 2024[51] - The announcement date is September 30, 2024, indicating the company's ongoing operations and governance structure[67]
金粤控股(00070) - 2024 - 年度业绩