Financial Performance - For the fiscal year ending July 31, 2024, the company reported a net profit attributable to shareholders of approximately HKD 7.1 million, consistent with the net profit recorded for the fiscal year ending July 31, 2023[16]. - The earnings per share for the fiscal year was HKD 0.71, unchanged from the previous year[16]. - Total revenue for the year ended July 31, 2024, reached approximately HKD 279.3 million, an increase of about HKD 7.3 million or 2.7% compared to approximately HKD 272.0 million for the previous year[21]. - Revenue from the sale of new and used heavy equipment and parts increased from approximately HKD 142.3 million to approximately HKD 158.4 million, representing a growth of about HKD 16.1 million or 11.3%[25]. - Revenue from heavy equipment leasing decreased from approximately HKD 116.8 million to approximately HKD 105.3 million, a decline of about HKD 11.5 million or 9.8%[26]. - Revenue from maintenance, logistics, and other ancillary services increased from approximately HKD 12.9 million to approximately HKD 15.6 million, an increase of about HKD 2.7 million or 20.9%[27]. - The cost of revenue for the year ended July 31, 2024, was approximately HKD 222.0 million, an increase of about HKD 3.1 million or 1.4% compared to approximately HKD 218.9 million for the previous year[29]. - Gross profit increased from approximately HKD 53.1 million to approximately HKD 57.3 million, a rise of about HKD 4.2 million or 7.9%[30]. - The gross profit margin for the year ended July 31, 2024, was approximately 20.5%, up from approximately 19.5% for the previous year[30]. - Total profit and comprehensive income for the year ending July 31, 2024, was approximately HKD 7.1 million, with a net profit margin decreasing from about 2.6% to approximately 2.5%[37]. Dividends - The board proposed a final dividend of HKD 0.015 per share, subject to approval at the upcoming annual general meeting[16]. - The board proposed a final cash dividend of HKD 0.015 per ordinary share for the year ending July 31, 2024, subject to shareholder approval[38]. Financial Condition - The financial condition remains robust, supported by high liquidity and a low debt-to-equity ratio despite challenging business conditions in Hong Kong[16]. - The current ratio as of July 31, 2024, was approximately 12.6 times, up from about 9.4 times as of July 31, 2023[40]. - Cash and bank balances totaled approximately HKD 73.8 million as of July 31, 2024, compared to HKD 47.0 million as of July 31, 2023[40]. - The debt-to-equity ratio was approximately 1.3% as of July 31, 2024, down from about 2.6% as of July 31, 2023[40]. - As of July 31, 2024, the distributable reserves available for shareholders are approximately HKD 91.8 million, down from HKD 94.9 million as of July 31, 2023[102]. Operational Developments - The company launched the latest Hitachi ZAXIS-7 series hydraulic excavators, designed to enhance work efficiency and safety, featuring a collision safety system and Aerial Angle AI camera[17]. - The integrated ConSite® system monitors abnormal operating conditions, such as sudden changes in oil properties and overheating[17]. - The company also offers the Bell brand articulated dump trucks equipped with the Fleetm@tic® satellite-based fleet management system, providing continuous tracking and production data[17]. - A series of solutions, including the Hitachi ZAXIS-7 excavators and Bell articulated dump trucks, have been pre-approved for the Construction Industry Innovation and Technology Fund[17]. - The company continues to provide comprehensive "one-stop services" for earthmoving equipment users and adopts flexible fleet management strategies for its leasing business[16]. - The company aims to enhance construction site safety, productivity, and asset management through advanced technology solutions[16]. Employee and Governance - The total employee cost for the year ending July 31, 2024, was approximately HKD 55.0 million, down from HKD 66.0 million in the previous year[121]. - The company employed 107 full-time employees as of July 31, 2024, a decrease from 133 employees a year earlier[121]. - The company has adopted a share option scheme to incentivize employees and directors since June 30, 2017[121]. - The board of directors is composed of seven members, with more than 50% being non-executive directors, including independent non-executive directors, and three female directors, achieving gender diversity[136]. - The independent non-executive directors contribute diverse business and financial expertise, actively participating in board meetings and various committees[137]. - The company has received written confirmations of independence from all independent non-executive directors, ensuring compliance with the independence guidelines[139]. - The company has established mechanisms to ensure the board receives independent opinions and advice, with independent non-executive directors meeting at least once a year without the presence of other directors[140]. Risk Management - The company’s financial performance, operations, and outlook may be affected by various risks and uncertainties[75]. - The board is responsible for assessing the nature and extent of risks the company is willing to accept to achieve its strategic objectives, ensuring effective risk management and internal control systems are in place[167]. - An external consultant was engaged to assist in identifying and assessing the group's risks and to review the effectiveness of the risk management and internal control systems[170]. Audit and Compliance - The audit committee has reviewed the consolidated financial statements for the fiscal year ending July 31, 2024, confirming compliance with applicable accounting standards and sufficient disclosure[126]. - The independent auditor has confirmed that the consolidated financial statements reflect the group's financial position as of July 31, 2024, in accordance with Hong Kong Financial Reporting Standards[188]. - Key audit matters identified by the auditor are considered important for the audit of the consolidated financial statements[190]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure effective communication with shareholders, which is reviewed annually[183]. - The company’s website serves as a primary channel for communication, providing regular updates on products, services, and projects[185].
德利机械(02102) - 2024 - 年度财报