Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of HKD 111,160,000, a decrease of 22.4% from HKD 143,233,000 in 2023[1] - The company recorded a pre-tax loss of HKD 253,321,000, significantly improved from a loss of HKD 857,397,000 in the previous year[2] - The total comprehensive loss attributable to the owners of the company for the year was HKD 273,691,000, compared to HKD 743,982,000 in 2023, indicating a reduction of 63.2%[2] - Basic and diluted loss per share for the year was HKD 10.07, down from HKD 25.42 in the previous year[2] - The group reported a net loss attributable to the owners of approximately HKD 270,792,000 for the year ended June 30, 2024[12] - The company reported a loss of HKD 270,792,000 for the year ended June 30, 2024, compared to a loss of HKD 683,448,000 in 2023, indicating an improvement in financial performance[21] - The company incurred a loss of approximately HKD 270,792,000 for the fiscal year ending June 30, 2024, significantly reduced from a loss of HKD 683,448,000 in the previous year, with a loss rate of 243.6% compared to 477.2%[42] Assets and Liabilities - Non-current assets decreased to HKD 622,755,000 from HKD 1,169,452,000, reflecting a decline of 46.8%[3] - The company's total liabilities decreased from HKD 784,009,000 in 2023 to HKD 579,499,000 in 2024, a reduction of 26.1%[4] - As of June 30, 2024, the group had a net liability of approximately HKD 7,938,000 and current liabilities of approximately HKD 51,194,000[12] - As of June 30, 2024, the group's net current liabilities were approximately HKD 51,194,000, down from HKD 117,001,000 in 2023, with total assets less current liabilities at approximately HKD 571,561,000[53] - The carrying value of investment properties was approximately HKD 568,817,000 as of June 30, 2024, down from HKD 995,699,000 in 2023, resulting in a fair value loss of approximately HKD 260,870,000[46] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 40,239,000 from HKD 33,152,000, representing a growth of 21.4%[3] - The board is confident in the group's ability to maintain sufficient cash resources to meet future operational funding needs[12] - The financial statements have been prepared on a going concern basis, reflecting the board's confidence in future cash flows[12] - The group plans to closely monitor general administrative expenses and operating costs to improve liquidity[12] - The group is committed to conservative cost control policies to ensure sufficient working capital and alleviate financial pressure on property operations[50] Revenue Sources - Rental income from property leasing decreased to HKD 41,577,000 in 2024 from HKD 60,174,000 in 2023, representing a decline of approximately 30.9%[17] - Property management fee income was HKD 67,887,000 in 2024, down from HKD 81,312,000 in 2023, a decrease of about 16.5%[17] - Total revenue for the property operations segment was HKD 111,160,000 for the year ended June 30, 2024, compared to HKD 143,233,000 for the previous year, reflecting a decline of approximately 22.4%[20] - Other income decreased to HKD 13,253,000 in 2024 from HKD 28,476,000 in 2023, a decline of approximately 53.5%[22] - Interest income from loans decreased significantly to HKD 327,000 in 2024 from HKD 13,964,000 in 2023, a drop of about 97.7%[22] Shareholder Information - The company declared a special dividend of HKD 0.001 per share, totaling HKD 2,689,000 for the year 2024, with no final dividend recommended for the year[29] - The average number of ordinary shares for calculating basic and diluted loss per share remained constant at 2,688,805,000 shares for both years[31] - The board declared a special dividend of HKD 0.001 per share for the year ending June 30, 2024[48] Operational Focus - The company is focused on property operations and has not disclosed any new product or technology developments in the current report[5] - The company aims to reduce costs as a key strategic focus to address business uncertainties arising from the pandemic[39] - The group plans to expand its property operations by leasing 42 units in the Jin Yi Zhi Yun City industrial park, with a total area of approximately 130,873 square meters[49] - The group aims to enhance the value of its existing shopping centers and diversify its business to strengthen property operations[52] Compliance and Governance - The company has adopted new accounting policies related to long service payments following the removal of the offset mechanism[10] - The company has applied new Hong Kong Financial Reporting Standards for the fiscal year, which may impact future financial performance[6] - The new Hong Kong Financial Reporting Standards and amendments are expected to have no significant impact on the group's financial position and performance[9] - The company has adopted a strict code of conduct for securities trading by directors, ensuring compliance with regulations[66]
锦艺集团控股(00565) - 2024 - 年度业绩