Revenue and Profitability - Revenue for the fiscal year ending June 30, 2024, was HKD 160,732,000, representing an increase of 97% compared to HKD 81,518,000 in the previous year[1] - Gross profit for the same period was HKD 5,943,000, up from HKD 5,443,000, indicating a slight increase in profitability[1] - The solar energy business generated revenue of HKD 61,866 thousand in 2024, up from HKD 38,477 thousand in 2023, representing a growth of 60.9%[12] - The distribution system business reported revenue of HKD 98,866 thousand in 2024, compared to HKD 43,041 thousand in 2023, indicating an increase of 130.1%[12] - Total revenue for the company reached HKD 160,732 thousand in 2024, a significant rise from HKD 81,518 thousand in 2023, reflecting a growth of 96.7%[15] Losses and Financial Performance - The company reported a net loss of HKD 44,057,000 for the fiscal year 2024, an improvement from a net loss of HKD 53,110,000 in 2023[2] - Total comprehensive loss for the year was HKD 45,193,000, compared to HKD 68,460,000 in the previous year, showing a reduction in overall losses[2] - Basic and diluted loss per share for the year was HKD (53.0), an improvement from HKD (87.5) in the previous year[2] - The company reported a pre-tax loss of HKD 42,552 thousand for the year ending June 30, 2024, compared to a pre-tax loss of HKD 51,279 thousand for the previous year, showing an improvement of 17.5%[12] - The company reported a loss attributable to equity holders of approximately HKD 47,300,000 in 2024, compared to a loss of HKD 61,600,000 in 2023, indicating an improvement[38] Assets and Liabilities - Non-current assets increased to HKD 7,775,000 from HKD 3,360,000, reflecting significant investment in property, plant, and equipment[3] - Current assets decreased to HKD 219,500,000 from HKD 247,290,000, primarily due to changes in inventory and trade receivables[3] - The company's total equity decreased to HKD 151,744,000 from HKD 181,015,000, indicating a decline in shareholder value[4] - The total assets of the group as of June 30, 2024, were approximately HKD 227.3 million, a decrease of 9.3% compared to HKD 250.7 million as of June 30, 2023[47] - Total liabilities increased by 8.5% to approximately HKD 75.5 million as of June 30, 2024, compared to HKD 69.6 million as of June 30, 2023[48] Credit Losses and Receivables - The expected credit loss provision before segment performance for the solar energy business was HKD 1,441 thousand in 2024, down from HKD 2,408 thousand in 2023, a decrease of 40.2%[12] - The expected credit loss allowance for trade receivables was HKD 89,351,000 in 2024, compared to HKD 70,316,000 in 2023, indicating a rise of about 27.0%[25] - The company's trade receivables aged less than 30 days increased to HKD 25,168,000 in 2024 from HKD 18,204,000 in 2023, indicating improved collection efficiency[26] Employee and Operational Costs - The company incurred total employee benefits of HKD 17,899,000 in 2024, slightly increasing from HKD 17,095,000 in 2023, representing a growth of about 4.7%[19] - The gross profit margin for the fiscal year ending June 30, 2024, is reported at 275.1%[62] - The group's employee costs, including director remuneration, amounted to approximately HKD 17.9 million for the fiscal year ending June 30, 2024, compared to HKD 17.1 million for the fiscal year ending June 30, 2023[46] Financial Reporting and Compliance - The financial statements were prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency[6] - The company anticipates that the application of new international financial reporting standards will not have a significant impact on its consolidated financial statements in the foreseeable future[9] - The company has not early adopted any new international financial reporting standards that have been issued but are not yet effective[8] Business Operations and Strategy - The company is engaged in the supply of solar photovoltaic components and equipment in China, indicating a focus on renewable energy markets[5] - The company expects to continue monitoring the performance of its solar energy and distribution system businesses separately for resource allocation and performance evaluation[10] - The company maintains confidence in the recovery of its business in China following the easing of social distancing measures[37] - The company aims to continue seeking good business opportunities to create value for its shareholders[37] Capital and Funding - The net proceeds from the 2023 placement amount to approximately HKD 2,900,000, which will be fully utilized for general operating funds[52] - The company completed a rights issue on May 8, 2024, raising net proceeds of approximately HKD 16,000,000[55] - The total amount utilized from the rights issue for general operating funds as of June 30, 2024, is HKD 3,800,000[55] - The company plans to extend the expected timeline for utilizing unutilized proceeds from the rights issue to June 2025[55] Dividends and Shareholder Communication - The board does not recommend the payment of a final dividend for the fiscal year ending June 30, 2024[72] - The preliminary annual results announcement will be published on the company's website and the Hong Kong Stock Exchange website[73] - The annual report for the fiscal year ending June 30, 2024, will be sent to shareholders in due course and will be available on the aforementioned websites[73]
工盖有限公司(01421) - 2024 - 年度业绩