Financial Performance - The company's revenue for the year decreased to approximately RMB 71.4 million, a reduction of about 4% compared to RMB 74.5 million in the previous year[10]. - Gross profit for the year was approximately RMB 18.2 million, down from RMB 22.7 million in the previous year[10]. - The pre-tax loss decreased to approximately RMB 3.4 million, compared to RMB 10.1 million in the previous year[6]. - The loss attributable to equity holders of the company was approximately RMB 10.0 million, down from RMB 23.1 million in the previous year[10]. - Basic loss per share was RMB 0.34, compared to RMB 0.80 in the previous year[10]. - Revenue from operations outside mainland China was RMB 71,415,000, a decrease from RMB 74,542,000 in 2023[15]. - The company reported a net loss of RMB 7,358 thousand for the year, compared to a net loss of RMB 19,579 thousand in the previous year, indicating an improvement[145]. - The impairment loss on financial assets increased significantly to RMB 5,788 thousand from RMB 1,651 thousand year-on-year[145]. - Total revenue for the year ended June 30, 2024, was RMB 71,415 thousand, a decrease of 4.8% from RMB 74,542 thousand in the previous year[145]. - Gross profit for the same period was RMB 18,224 thousand, down 20% from RMB 22,743 thousand year-on-year[145]. Assets and Liabilities - The total equity of the group decreased to RMB 118.7 million[6]. - As of June 30, 2024, cash and cash equivalents were approximately RMB 46,869,000, down from RMB 63,469,000 in 2023[17]. - The total equity attributable to owners decreased by approximately RMB 9,887,000 to RMB 104,225,000 as of June 30, 2024[17]. - Current assets decreased to RMB 183,567 thousand from RMB 204,358 thousand, reflecting a decline of approximately 10.1%[147]. - Total liabilities decreased to RMB 88,273 thousand from RMB 101,689 thousand, showing a reduction of 13.2%[147]. - Net assets decreased from RMB 125,976,000 to RMB 118,697,000, a reduction of approximately 5.8%[148]. - The total equity attributable to owners decreased from RMB 114,112,000 to RMB 104,225,000, a decline of about 8.4%[149]. Corporate Governance - The board did not recommend a final dividend for the year ending June 30, 2024, consistent with the previous year[21]. - The board consists of two executive directors and three independent non-executive directors as of June 30, 2024[29]. - The company has adhered to the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO[28]. - The company emphasizes accountability, transparency, independence, fairness, and responsibility in its corporate governance principles[28]. - The company is actively seeking to appoint a qualified individual to fulfill the role of CEO to comply with corporate governance standards[28]. - The independent non-executive directors have accumulated extensive experience in accounting and finance, enhancing the board's oversight capabilities[25][26]. - The company has established a governance committee to review corporate governance policies and practices, ensuring compliance with relevant codes[71]. - The governance committee held two meetings during the year, with all members being independent non-executive directors[73]. - The company has mechanisms in place to ensure independent opinions are obtained for board decisions, including annual reviews of the independence of non-executive directors[70]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure effective communication between the board and shareholders[74]. - The company encourages electronic communication with shareholders to reduce environmental impact and improve information dissemination efficiency[79]. - The company has reviewed its shareholder communication policy for the year ending June 30, 2024, and found it to be effectively implemented[80]. - Shareholders holding at least 10% of the company's paid-up capital can request a special general meeting within two months of their request[73]. Risk Management and Internal Control - The company has established a risk management and internal control system to ensure sustainable growth and business objectives[61]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control[64]. - The internal audit reports are reviewed by the Audit Committee and the board to assess risk management and internal control effectiveness[64]. Financial Reporting and Compliance - The financial statements reflect the group's financial position and performance fairly and in accordance with the Hong Kong Financial Reporting Standards[133]. - The company is responsible for preparing financial statements in accordance with Hong Kong Financial Reporting Standards and ensuring internal controls to prevent material misstatements[139]. - The independent auditor's report does not cover other information included in the annual report, focusing solely on the financial statements[138]. - The group has adopted new and revised Hong Kong Financial Reporting Standards, with no significant impact on the financial statements from these changes[162]. Employee and Management Information - Employee costs, including director remuneration, amounted to approximately RMB 41,904,000, compared to RMB 40,241,000 in 2023[18]. - The company has a strong management team with over 20 years of experience in auditing and accounting[28]. - The company has confirmed that all directors participated in ongoing professional training during the year[41]. Investment and Acquisitions - The company had no significant investments or major acquisitions during the year[18]. - The group acquired 51% stakes in Shenzhen Hailian and Huizhou Heping Peninsula No. 1, with a guaranteed net profit of no less than RMB 6.2 million for the year ending December 31, 2023, which was achieved[11]. Operational Highlights - The group managed properties with a total area of approximately 254,248 square meters and owned 516 parking spaces[8]. - The company operates primarily in property management services and property sales, with subsidiaries involved in real estate development and investment holding[155]. - The company has established a significant relationship with its largest client, Xu Zhou Yue Qiao Hua Yuan, providing customized services beyond regular property management[88]. - The company emphasizes the importance of third-party service providers for operational efficiency and has implemented strict monitoring to mitigate associated risks[86]. Share Options and Capital Structure - The company has a stock option plan in place, allowing for the issuance of up to 40,262,500 shares, representing 10% of the issued shares as of the adoption date[96]. - The stock option plan allows for the issuance of additional shares, with a maximum of 30% of the company's issued shares available for unexercised options[96]. - The total number of shares that can be issued under the 2010 Share Option Scheme is 95,024,050 shares, accounting for 10% of the shares issued as of the date of the special shareholders' meeting in 2010[101]. - The total number of shares that can be issued under the 2019 Share Option Scheme is 288,409,173 shares, representing 9.97% of the company's issued share capital[109]. Audit and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the group's interim and annual performance during the year[130]. - Ernst & Young will be proposed for reappointment as the company's auditor at the upcoming annual general meeting[131].
京维集团(01195) - 2024 - 年度财报