Financial Performance - Revenue for the year ended June 30, 2024, was HKD 226,711,000, a decrease of 32% compared to HKD 333,964,000 for the year ended June 30, 2023[2] - Gross profit for the year was HKD 13,066,000, with a gross margin of approximately 5.8%, compared to HKD 3,182,000 and a margin of 1% in the previous year[2] - Operating loss for the year was HKD 38,365,000, slightly higher than the operating loss of HKD 37,941,000 in the previous year[2] - Net loss for the year was HKD 39,988,000, compared to a net loss of HKD 38,707,000 in the previous year, indicating a 3.3% increase in losses[3] - Total revenue for the year 2024 was HKD 226,711 thousand, a decrease of 32% from HKD 333,964 thousand in 2023[14] - The group reported a total loss for the year of HKD 39,988 thousand in 2024, compared to a loss of HKD 38,707 thousand in 2023[14] - The company reported a pre-tax loss of HKD 39,991,000 for the year ended June 30, 2024, compared to a loss of HKD 38,710,000 in the previous year[32] - The net loss attributable to equity holders widened to HKD 39.99 million from HKD 38.71 million in the previous year[44] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 798,093,000, significantly up from HKD 207,094,000 in the previous year[8] - Non-current assets, including property, plant, and equipment, were valued at HKD 641,763,000, compared to HKD 51,469,000 in the previous year[6] - Current liabilities increased to HKD 93,089,000 from HKD 40,114,000, reflecting a 132.5% rise[8] - The group's total assets as of June 30, 2024, amounted to HKD 798,093 thousand, with classified assets of HKD 712,995 thousand[18] - The total liabilities as of June 30, 2024, were HKD 104,652 thousand, with classified liabilities of HKD 63,063 thousand[18] - The net current asset value decreased to HKD 63.24 million from HKD 115.51 million year-on-year[45] Revenue Breakdown - The party product trading segment generated revenue of HKD 45,140 thousand in 2024, down 51% from HKD 92,332 thousand in 2023[14] - The technology-driven investment management segment reported revenue of HKD 9,221 thousand in 2024, with a classification performance of HKD 8,552 thousand, compared to a loss of HKD 6,794 thousand in 2023[14] - The commodity trading segment's revenue decreased to HKD 172,350 thousand in 2024 from HKD 241,632 thousand in 2023, with a classification performance loss of HKD 3,139 thousand[14] - Revenue from mainland China for 2024 was HKD 190,669 thousand, down from HKD 241,632 thousand in 2023[20] - Revenue from party products trade was HKD 45,140,000, down 51% from HKD 92,332,000 year-on-year[24] - Revenue from goods trade was HKD 172,350,000, a decline of 29% compared to HKD 241,632,000 in the previous year[24] - Revenue from commodity trading decreased by 28.67% to HKD 172.35 million due to excess manufacturing capacity and increased price pressure[47] Acquisitions and Investments - The group completed the acquisition of Deep Neural Computing Company Limited (DNCC) on March 22, 2024, enhancing its capabilities in AI, deep neural networks, distributed computing, and quantitative trading algorithms[12] - The acquisition of DNCC contributed approximately HKD 9.22 million in revenue post-acquisition until June 30, 2024[48] - The group issued 21,000,000 shares as part of the acquisition of DNCC, expanding into advanced algorithm and AI-driven investment solutions[55] - The company completed the acquisition of DNCC's entire issued share capital on March 22, 2024, enhancing its technology-driven asset management business[59] Shareholder Information - The company did not recommend any final dividend for the year ended June 30, 2024, consistent with the previous year[31] - The company raised approximately HKD 286 million through a rights issue and share subscription, with a net amount of about HKD 284 million after expenses[56] - The company’s authorized share capital as of June 30, 2024, was HKD 10,000 million, with issued share capital of HKD 5,582,451[55] - Share premium reduction approved at a special shareholders' meeting amounted to approximately HKD 4,318 million, with HKD 4,176 million used to offset accumulated losses[55] Operational Insights - Operating expenses rose by 35.73% to HKD 53.42 million, primarily due to increased depreciation and related costs from the new headquarters[44] - The company’s financing costs increased significantly, with lease liabilities interest rising to HKD 1,582,000 from HKD 658,000 year-on-year[28] - The company has implemented credit risk assessment policies to manage lending operations, ensuring compliance with applicable laws and regulations[50] - The company closely monitors its loan portfolio and updates credit status regularly, issuing alerts for defaults or overdue payments[53] Future Outlook - The global algorithm trading market is projected to reach $42.99 billion by 2030, with a compound annual growth rate (CAGR) of 12.2%[63] - The company believes it can leverage trends in AI-driven solutions and quantitative trading models to expand its investment management footprint[63] Corporate Governance - The company has complied with the corporate governance code as of June 30, 2024, despite not having a chairman since July 25, 2023[65] - The annual general meeting of shareholders is scheduled for December 13, 2024, at 3 PM in China[69] - The full-year performance announcement will be published on the company's website and the Hong Kong Stock Exchange website[69] - The annual report for the year ending June 30, 2024, is expected to be sent to shareholders by October 31, 2024[69] - The board expresses gratitude to all employees, management, shareholders, clients, and banks for their support[69]
INTL GENIUS(00033) - 2024 - 年度业绩