Financial Performance - The total revenue for the year ended June 30, 2024, was HKD 208,612,000, compared to HKD 197,212,000 for the previous year, representing an increase of approximately 5.7%[3] - The gross profit for the year was HKD 11,400,000, while other income, gains, and losses amounted to HKD 2,246,000, indicating a decrease in other income compared to HKD 3,176,000 in the previous year[2] - The company reported a loss before tax of HKD 12,776,000, slightly higher than the loss of HKD 11,675,000 in the previous year, reflecting ongoing financial challenges[4] - The total comprehensive loss for the year was HKD 14,728,000, compared to HKD 21,137,000 in the previous year, showing an improvement in overall financial performance[4] - The loss attributable to owners of the company from continuing operations was HKD 12,420,000, compared to HKD 12,745,000 in the previous year, indicating a slight improvement[5] - The company reported a net loss of HKD 12,183 million for the year ended June 30, 2023, compared to a net profit of HKD 562 million from discontinued operations[27] Revenue Segments - The group's revenue for the fiscal year ending June 30, 2024, reached HKD 208,612,000, a significant increase from HKD 25,292,000 in the previous year, representing a growth of 726%[12] - Revenue from the Smart City Solutions segment amounted to HKD 179,878,000, compared to HKD 12,181,000 in the previous year, indicating a growth of 1,477%[12] - Revenue from the Renewable Energy Products and Solutions segment was HKD 28,734,000, up from HKD 13,111,000, reflecting a growth of 119%[12] Assets and Liabilities - The company's total assets decreased to HKD 220,006,000 from HKD 131,554,000, primarily due to changes in current liabilities[6] - The company's current assets were approximately HKD 220 million, compared to HKD 131 million in 2023, while current liabilities increased to about HKD 158 million from HKD 37 million[60] - The company maintains a strong financial liquidity position with a net current asset value of approximately HKD 62 million, down from HKD 94 million in 2023[60] Cash Flow and Liquidity - The net cash and cash equivalents increased to HKD 14,699,000 from HKD 9,147,000, indicating improved liquidity[6] - The company reported zero debt as of June 30, 2024, with financial costs of approximately HKD 40,000, significantly reduced from HKD 172,000 in 2023[60] Investments and Fair Value - The company recognized a fair value loss on investment properties of HKD 3,533,000, compared to HKD 1,136,000 in the previous year, reflecting market conditions affecting property values[4] - The company recognized a fair value loss of HKD 19,453 million on financial assets measured at fair value through profit or loss for the year ended June 30, 2024[20] - As of June 30, 2024, the fair value of financial assets classified at fair value through profit or loss was approximately HKD 10,400,000, a decrease from HKD 34,000,000 as of June 30, 2023, representing a decline of 69.4%[48] Business Operations and Strategy - The group ceased operations in the charging business after selling its stake in Beijing Mingxin Zhiliang Technology Co., Ltd. in June 2023, which will not require restating comparative figures[13] - The company has decided to focus entirely on green energy and will not pursue further exploration in fossil fuels due to environmental concerns and market uncertainties[45] - The company is shifting focus from selling Huawei inverters to larger projects due to geopolitical challenges and is expanding its solar photovoltaic system sales internationally[57] Employee and Administrative Costs - The employee costs for the year ended June 30, 2024, were approximately HKD 12,000,000, an increase from HKD 11,200,000 in 2023, with a total of about 40 employees[66] - General and administrative expenses increased by approximately 16.3% to about HKD 23 million, up from HKD 19 million in 2023, primarily due to increased business volume[36] Future Outlook and Market Conditions - The company anticipates that recent fiscal stimulus measures in China will enhance liquidity in the financial system, facilitating easier access to loans for businesses and consumers[32] - The ongoing conflicts in Ukraine and the Middle East are expected to impact global economic stability and energy prices, which are critical for the company's operations[55] Shareholder Returns - The company did not declare or recommend any dividends for the year ended June 30, 2024, consistent with the previous year[26] - The company did not recommend any final dividend for the year ended June 30, 2024[67] Acquisitions and Sales - The company completed the sale of 100% equity in a subsidiary for HKD 45,900,000 on October 30, 2023, to streamline operations[22] - The company agreed to sell its entire equity interest in a hotel project in Dongguan for HKD 45.9 million, with the proceeds intended for general working capital and development of existing projects[54]
冠军科技集团(00092) - 2024 - 年度业绩