Financial Performance - For the fiscal year ending June 30, 2024, the company reported revenue of approximately HKD 528.9 million, an increase of about HKD 42.5 million or 8.7% compared to HKD 486.4 million in the same period last year[4]. - The comprehensive income attributable to the owners of the company turned from a loss of approximately HKD 1.3 million in the previous year to a comprehensive income of approximately HKD 2.5 million this year[4]. - Basic and diluted earnings per share for the year were approximately HKD 0.07, compared to a loss of HKD 0.02 per share in the previous year[4]. - The group recorded a profit of approximately HKD 3.9 million for the year, compared to a loss of HKD 1.3 million in the previous year, primarily due to increased revenue from building maintenance services[23]. - Revenue from building maintenance services increased by approximately HKD 105.7 million or 28% to about HKD 482.9 million for the year ended June 30, 2024, due to the completion of more engineering orders[17]. - Gross profit for the year was approximately HKD 33.5 million, an increase of about HKD 6.8 million, with a gross margin of 6.3%, up from 5.5% in the previous year[18]. - The net profit for the year was HKD 3,888,000, compared to a net loss of HKD 1,294,000 in 2023, indicating a turnaround in performance[145]. Contracts and Business Development - The company secured a maintenance contract valued at approximately HKD 374.1 million, which commenced in July 2024[5]. - The company successfully obtained 10 renovation contracts with a total estimated value of approximately HKD 34.13 million, of which 4 contracts started within the fiscal year[6]. - As of June 30, 2024, the company had 4 maintenance contracts with an estimated total value of approximately HKD 1,610 million, compared to HKD 1,587 million for the same number of contracts in the previous year[11]. - The company had 15 renovation contracts on hand with an estimated total value of approximately HKD 152.7 million, an increase from HKD 146.5 million for 13 contracts in the previous year[12]. - The board anticipates stable growth in the building maintenance and renovation services industry due to ongoing public sector spending on infrastructure and residential projects[8]. Financial Position and Cash Flow - As of June 30, 2024, the equity attributable to the owners of the company was approximately HKD 133.8 million, a slight increase of 1.8% from HKD 131.4 million in the previous year[4]. - As of June 30, 2024, the group had cash and bank balances totaling approximately HKD 46.7 million, down from HKD 83.6 million in the previous year[24]. - The capital-to-debt ratio increased to approximately 3.3% as of June 30, 2024, compared to 1.3% in the previous year, due to a significant increase in lease liabilities[28]. - Operating cash flow for the year ended June 30, 2024, was HKD 4,489,000, a decrease of 48.3% from HKD 8,702,000 in 2023[152]. - Cash and cash equivalents decreased by HKD 36,927,000, ending the year at HKD 46,677,000, down from HKD 83,604,000 at the beginning of the year[152]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring compliance with corporate governance codes[92]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience for sustainable development[91]. - The board has established three committees: audit committee, remuneration committee, and nomination committee, to oversee specific aspects of the company's affairs[90]. - The company emphasizes the importance of internal controls and risk management in its operations[106]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of June 30, 2024, in accordance with Hong Kong Financial Reporting Standards[128]. Compliance and Risk Management - The company recognizes the importance of compliance with regulatory requirements and has taken steps to minimize risks of violations[80]. - The company has complied with all corporate governance code provisions, except for a minor deviation regarding the timely distribution of board meeting documents[87]. - The audit committee reviewed the accounting principles and policies adopted by the group for the audited consolidated financial statements[84]. - The company has established quality and environmental management systems, obtaining ISO 9001 and ISO 14001 certifications for its building maintenance services[47]. - The company has not identified any significant uncertainties that may cast doubt on its ability to continue as a going concern[119]. Shareholder Information - The board does not recommend the payment of a final dividend for the current year (2023: none)[34]. - The company has adopted a shareholder communication policy to facilitate informed investment decisions[118]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital, with the meeting to be held within two months of the request[121]. - The company has established a website to provide the latest information on business operations, financial data, and corporate governance practices[118]. - The company has a policy for the reappointment of directors every three years, with at least one-third of directors retiring at each annual general meeting[102]. Employee and Management Information - The number of employees increased to approximately 148 as of June 30, 2024, from 120 in the previous year, reflecting the company's growth strategy[33]. - The remuneration for directors and senior management is determined by the company's remuneration committee based on qualifications, experience, and current market conditions[63]. - The company provides ongoing training and professional development for all directors to ensure they fulfill their responsibilities effectively[99]. - The company has adopted a share option plan to attract and retain high-quality employees, allowing for a maximum issuance of shares not exceeding 30% of the total issued shares at any time[55]. - The attendance of independent non-executive directors at board meetings was 100% for the fiscal year[100].
中国供应链产业(03708) - 2024 - 年度财报