Financial Performance - The Company experienced a decline in both revenue and profit due to the overall industry environment, but management and staff efforts helped mitigate the impact[6]. - The Group recorded revenue of approximately HK$84,738,000, representing a decrease of approximately 27.1% compared to the corresponding period, primarily due to a decline in car rental and shuttle bus business in Beijing[30]. - The basic loss per share attributable to owners of the company was HK$0.21, compared to earnings of HK$6.63 per share in the previous year[173]. - The Group incurred a loss of approximately HK$10,223,000 and a net cash outflow from operating activities of approximately HK$111,687,000 for the year ended 30 June 2024[162]. - Total comprehensive loss for the year was HK$6,800, contrasting with a total comprehensive income of HK$171,481 in the previous year[174]. Business Development and Strategy - TMTC Group maintained stable business conditions despite external challenges, preparing for better growth in the new financial year[7]. - The management is actively developing new business areas, including natural resources products trading and bulk commodities transportation, with expectations of substantial turnover and profits[8]. - The Group aims to diversify operations to enhance risk control and shift towards industries with better prospects[10]. - The Group aims to optimize existing business lines and explore new sectors to develop multiple profit points and provide stable revenue support[28]. - The Group is exploring new business opportunities, including a "Passenger Transport Plus" model to offer value-added services during commutes[18]. Acquisitions and Investments - The acquisition of City Gear Group was finalized during the financial year, enhancing the Company's capabilities in system integration and data analytics[8]. - The acquisition of a technology company was completed on March 28, 2024, which will provide stable technical support and lower costs for logistics management[24]. - The acquisition of City Gear was completed on March 28, 2024, for a consideration of up to HK$90,000,000, making City Gear an indirect wholly-owned subsidiary of the Company[60]. Financial Position and Assets - Non-current assets increased by approximately HK$73,790,000 from HK$180,851,000 as of June 30, 2023, to HK$254,641,000 as of June 30, 2024, primarily due to acquisitions in the motor vehicle and Information Technology sectors[42]. - Property, plant, and equipment amounted to approximately HK$131,144,000 as of June 30, 2024, representing an increase of approximately 342.4% compared to approximately HK$29,647,000 as of June 30, 2023, driven by the purchase of 35 new electric buses and 16 new fuel-oil buses[42]. - The Group's impairment for trade receivables decreased by approximately HK$3,527,000 to approximately HK$10,822,000 compared to HK$14,349,000 in the corresponding period[44]. Cost Management and Expenses - Cost of revenue decreased by approximately 45.2% from approximately HK$143,056,000 to approximately HK$78,427,000, mainly due to reduced costs from car rental and shuttle bus business[30]. - Administrative and other operating expenses decreased by approximately 36.8% to approximately HK$32,434,000, mainly due to a shorter reporting period in the current year[32]. - Finance costs decreased by approximately 45.5% from approximately HK$12,630,000 in the corresponding period to approximately HK$6,882,000 for the current year, mainly due to reduced interest on convertible bonds, non-convertible bonds, and lease liabilities[40]. Shareholder and Capital Management - The issued share capital of the Company was approximately HK$3,587,769,000, divided into 4,387,628,409 shares as of June 30, 2024[45]. - The Company aims to strengthen its financial position through these subscription agreements[56]. - The total planned amount from the net proceeds of the First Subscription, Open Offer, Second Subscription, and Third Subscription is HK$386,215,000, with an unutilized amount of HK$109,807,000 as of July 1, 2023[58]. Governance and Compliance - The Company has complied with all relevant code provisions of the Corporate Governance Code except for the non-appointment of a chief executive officer, which is managed collectively by the executive Directors[108]. - The Audit Committee has reviewed the Group's consolidated financial statements for the year ended June 30, 2024[106]. - The Company is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value[108]. Risk Management - The risk management system is designed to manage risks rather than eliminate them, providing reasonable assurance rather than absolute assurance[138]. - The Board determines the business strategies and evaluates the nature and extent of risks the Group is willing to take to achieve its strategic objectives[138]. - The Company has mechanisms in place to ensure the Board obtains independent opinions and perspectives, including engaging legal teams or professionals as needed[135]. Environmental and Social Responsibility - The Group is committed to minimizing environmental impact by saving electricity and promoting recycling[90]. - A separate Environmental, Social and Governance Report (ESG Report) for the year ended June 30, 2024, will be published electronically on the Stock Exchange's website and the Company's website[91]. - The Group aims for green, circular, and low-carbon development through its environmental policies[90].
国家联合资源(00254) - 2024 - 年度财报