Financial Performance - The Group recorded a net loss of approximately HK$70.7 million for the year ended 30 June 2024, compared to a net loss of approximately HK$69.8 million in 2023[12]. - The Group's overall revenue for the year was approximately HK$31.3 million, slightly up from approximately HK$31.2 million in 2023[12]. - Basic loss per share for the year was approximately 0.45 HK cent, compared to approximately 0.44 HK cent in 2023[12]. - The net loss was primarily attributed to a fair value loss of approximately HK$41.5 million related to financial assets at fair value through profit or loss[12]. - For the year ended June 30, 2024, the group recorded revenue of approximately HK$31.3 million, compared to HK$31.2 million in 2023, with a net loss of approximately HK$70.7 million, slightly higher than the HK$69.8 million loss in 2023[13]. Business Segments Performance - Revenue from the hotel hospitality business was approximately HK$22.5 million, a decrease from approximately HK$25.6 million in 2023, with a segment loss of approximately HK$1.8 million compared to a loss of approximately HK$10.0 million in 2023[5]. - The money lending business reported a segment loss of approximately HK$1.0 million, an improvement from a loss of approximately HK$8.6 million in 2023, primarily due to impairment losses on loans receivable[7]. - Revenue from the liquor and wine business increased significantly to approximately HK$2.2 million from approximately HK$0.1 million in 2023, with a segment gain of approximately HK$1.2 million compared to a segment loss of approximately HK$0.6 million in 2023[8]. Loan Portfolio and Credit Risk - As of 30 June 2024, the Group's total loans receivable amounted to approximately HK$146.9 million, down from approximately HK$161.9 million in 2023, with related interest receivables of approximately HK$82.2 million compared to approximately HK$68.8 million in 2023[5]. - The expected credit loss (ECL) rate for the Group's loans receivable ranged up to 100%, compared to 93.11% to 100% in 2023, depending on the nature and probability of default[35]. - The Group's credit policy includes compliance with laws, credit assessment of potential borrowers, and determining suitable interest rates reflecting risk levels[39]. - The Group's credit risk assessment includes reviewing financial information and assessing the financial condition of potential borrowers, including their assets[41]. - The Group's overdue loan recovery procedures involve issuing payment reminders and commencing legal proceedings if necessary[75]. Renovation and Asset Management - The Resort Towers, located in Niseko, Japan, is a key asset, consisting of 110 high-end accommodation units and attracting significant tourist traffic during the winter season[13]. - The Renovation Project for the Resort Towers has been delayed due to dissatisfaction with the proposed design and a shortage of qualified contractors in the region[26]. - The main renovation phase 1 is scheduled to commence in April 2025, focusing on one of the two towers[28]. - By November 2026, the first tower's renovation will be completed, and the second tower will be substantially completed, allowing for additional revenue recognition[31]. Corporate Governance - The company has complied with the Corporate Governance Code except for the separation of the roles of chairman and chief executive officer, which has not been fulfilled since March 2020[119]. - The company is actively seeking a suitable candidate for the CEO position to comply with the Corporate Governance Code[120]. - The Board of Directors consists of five members, including one executive director and three independent non-executive directors[123]. - The Company has received annual confirmations of independence from all independent non-executive directors, confirming their compliance with independence guidelines[127]. - The Audit Committee held two meetings during the year ended June 30, 2024, reviewing the Group's financial reporting and risk management systems[138]. Risk Management - The Company has established a Risk Management Policy to ensure operations in a safe and steady environment, aiming to achieve its operational strategy and targets[192]. - The risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatements[190]. - The Group conducts periodic risk identification and analysis to assess the consequences and likelihood of identified risks, developing management plans to mitigate them[194]. - An annual risk management meeting is held to review identified risks and the implementation of risk management plans, enhancing them when necessary[194]. - Ongoing and periodic monitoring of risks is performed to ensure appropriate internal control processes are in place[200].
德泰新能源集团(00559) - 2025 - 年度财报