Financial Performance - Gaodi Holdings Limited reported a revenue increase of 15% year-over-year, reaching approximately $120 million for the fiscal year 2024[1]. - The company achieved a net profit margin of 10%, translating to a net income of $12 million, compared to $10 million in the previous year[1]. - Gaodi Holdings Limited reported a 30% increase in gross profit, amounting to $36 million, driven by improved operational efficiencies[1]. - The company has set a revenue guidance of $140 million for the next fiscal year, representing a projected growth of 16.67%[1]. - The Group's revenue from the food products business decreased by 33.1% to RMB354.9 million from RMB530.2 million in 2023[8]. - Segment gross profit decreased by 28.8% to RMB11.9 million from RMB16.7 million in 2023, with a slight increase in gross margin from 3.2% to 3.4%[8]. - The Group's loss for the Reporting Period decreased to approximately RMB79.9 million due to reduced sales and distribution costs[8]. - Revenue for the year ended 30 June 2024 was RMB 354,863,000, a decrease of 33% compared to RMB 530,207,000 for the same period in 2023[132]. - Gross profit for the year was RMB 11,927,000, down from RMB 16,744,000 in the previous year, reflecting a decline in profitability[132]. - Loss before tax for the year was RMB 81,593,000, an improvement from a loss of RMB 152,310,000 in the prior year[132]. - Total comprehensive expenses for the year amounted to RMB 79,408,000, compared to RMB 154,981,000 in the previous year, indicating a reduction in overall losses[132]. - Basic and diluted loss per share was RMB 0.5987, improving from RMB 1.2783 in the previous year[132]. User Growth and Market Expansion - User data showed a growth in active users by 25%, totaling 1.5 million users by the end of 2024[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[1]. - A strategic acquisition of a local tech firm was completed, expected to enhance Gaodi's technological capabilities and market reach[1]. Research and Development - Gaodi Holdings Limited is investing $5 million in R&D for new product development, focusing on innovative technologies to enhance user experience[1]. Marketing and Brand Awareness - The company is implementing a new marketing strategy aimed at increasing brand awareness, with a budget allocation of $2 million for the upcoming year[1]. Financial Position and Assets - As of June 30, 2024, net current assets decreased from approximately RMB226.2 million to approximately RMB199.2 million, primarily due to a decrease in cash and cash equivalents and trade receivables[24]. - Cash and cash equivalents as of June 30, 2024, were approximately RMB60.9 million, down from approximately RMB66.5 million as of June 30, 2023, with no bank borrowings[24]. - The gearing ratio as of June 30, 2024, was 0.26, an increase from 0.127 as of June 30, 2023[26]. - Inventories as of June 30, 2024, amounted to approximately RMB74.7 million, down from approximately RMB79.2 million as of June 30, 2023, with inventory turnover days at approximately 76 days[26]. - Trade receivables as of June 30, 2024, were approximately RMB89.9 million, down from approximately RMB104.3 million as of June 30, 2023, with turnover days at approximately 100 days[26]. - The Group's total equity decreased to RMB 178,375,000 from RMB 219,445,000, indicating a decline in the company's net worth[133]. Employee and Governance - The Group had 405 full-time employees as of June 30, 2024, with no final dividend recommended for the Reporting Period[29]. - The Company has adopted a dividend policy that allows for the declaration and distribution of dividends at the Board's discretion[38]. - The Board consists of four executive directors and three independent non-executive directors, ensuring significant weight to independent views[76]. - The Company acknowledges the need for regular meetings to ensure effective governance, despite the current shortfall in meeting frequency[75]. Risk Management and Compliance - The Group has implemented a risk management system covering financial security, production, logistics, technology, and compliance to address operational risks associated with business growth[42][48]. - The Audit Committee oversees the risk management policy and the performance of the risk management system[42][48]. - There were no material breaches of applicable laws and regulations that significantly impacted the Group's business during the reporting period[39]. Accounting Policies and Financial Reporting - The Group's financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[118]. - The audit identified impairment assessment on trade receivables as a key audit matter, indicating its significance in the financial statements[111]. - The Group recognizes lifetime expected credit losses (ECL) for trade receivables, contract assets, and lease receivables[176]. - The Group's accounting policies ensure that financial instruments are accurately recognised and derecognised in accordance with contractual provisions[168]. Shareholder Information - Shareholders holding not less than one-tenth of the Company's paid-up capital may request the Board to convene an extraordinary general meeting[106]. - The forthcoming Annual General Meeting (AGM) is scheduled for December 2024, with notices sent to shareholders at least 20 clear business days prior[106]. - The Company maintains a website for effective communication with shareholders, providing updates on business operations and financial information[106].
中国升海集团(01676) - 2024 - 年度财报