Financial Performance - Revenue from continuing operations decreased by approximately 18.8% to about HKD 144.0 million for the year ended September 30, 2024, down from HKD 177.4 million in 2023[46] - Gross profit fell by approximately 67.4% to about HKD 9.9 million for the year ended September 30, 2024, compared to HKD 30.4 million in 2023[46] - The annual loss for the year ended September 30, 2024, is approximately HKD 10.1 million, compared to a loss of HKD 2.6 million in 2023[46] - The operating loss for the year was HKD 23,155,000 compared to an operating profit of HKD 335,000 in the previous year[57] - The loss from continuing operations for the year was HKD 23,360,000, compared to a profit of HKD 129,000 in the previous year[57] - The total comprehensive loss for the year was HKD 11,019,000, compared to HKD 2,287,000 in the previous year[57] - The company reported a basic and diluted loss per share of HKD 2.92 for continuing operations, compared to a profit of HKD 0.02 in the previous year[63] - The group reported a pre-tax loss of HKD 26.4 million for the period, compared to a loss of HKD 2.7 million for the previous year[149] Revenue Breakdown - Revenue from foundation and site formation engineering decreased to HKD 42,310,000 from HKD 83,859,000, a decline of 49.6%[74] - Revenue from general construction and related services fell to HKD 24,945,000 from HKD 41,419,000, a decrease of 39.7%[74] - Revenue from health management and consulting business dropped from approximately HKD 48.5 million for the year ended September 30, 2023, to about HKD 17.1 million for the year ended September 30, 2024[161] - Total revenue from continuing operations was HKD 161,009,000, with segment revenues including HKD 42,310,000 from foundation and site works[115] Financial Position - The total equity attributable to the owners of the company as of September 30, 2024, is approximately HKD 34.7 million, down from HKD 45.7 million in 2023[2] - The total debt of the group, including bank borrowings and lease liabilities, is approximately HKD 2.9 million as of September 30, 2024, compared to HKD 50.5 million in 2023[2] - The capital debt ratio as of September 30, 2024, is approximately 8.5%, significantly improved from 117.1% in 2023[3] - The net current assets as of September 30, 2024, are approximately HKD 34.9 million, an increase from HKD 27.0 million in 2023[33] - The company's cash and cash equivalents were HKD 41,450 million as of September 30, 2024, compared to HKD 32,558 million in 2023, indicating improved liquidity[86] - The company's net current assets increased to HKD 34,909 million in 2024 from HKD 26,970 million in 2023, reflecting better short-term financial health[88] - The total liabilities decreased to HKD 158,651 million in 2024 from HKD 29,390 million in 2023, indicating improved financial stability[88] Operational Changes - The company has undergone a name change from "Ri Ying Holdings Limited" to "Shing Chi Holdings Limited" as of August 1, 2024[67] - The company plans to focus on expanding its construction services in Hong Kong and mainland China, aiming to capture more market share[106] - The company has initiated new strategies to mitigate risks associated with its health management and consulting business, including divestiture[108] - The group plans to cease its health management business in China following the sale of its subsidiary for HKD 50,000[161] - The group aims to continue exploring suitable business opportunities and investment prospects to drive growth despite a challenging market environment[162] Cost Management - The total employee cost for the year ended September 30, 2024, is approximately HKD 43.8 million, up from HKD 38.6 million in 2023[39] - The group recorded an administrative and other operating expense of HKD 75,227,000, leading to a pre-tax loss of HKD 2,533,000[120] - Administrative and other operating expenses decreased from HKD 46.2 million in the previous year to HKD 40.0 million in the current period[149] - Administrative and other operating expenses increased by approximately HKD 4.1 million or 14.0% to about HKD 33.3 million for the year ending September 30, 2024, mainly due to impairment losses on property, plant, and equipment[181] Market Conditions - The group anticipates ongoing challenges from intense market competition, rising material and labor costs, and cautious customer budgeting in the short term[162] - The group confirmed approximately HKD 175.3 million as revenue from ongoing projects as of September 30, 2024[160] - The group had 25 construction projects on hand as of September 30, 2024, with a total contract value of approximately HKD 324.6 million, down from HKD 341.4 million in 2023[160] Asset Management - The company's financial assets and contract assets impairment loss was HKD 115,000, a significant decrease from HKD 1,640,000 in the previous year[122] - The company's trade receivables aged 0 to 30 days decreased to HKD 5,729,000 from HKD 11,320,000 year-over-year[129] - Trade receivables decreased from HKD 25.0 million in 2023 to HKD 16.8 million in 2024, with an impairment loss provision of HKD 5.1 million[152] - Contract assets decreased from approximately HKD 34.2 million as of September 30, 2023, to approximately HKD 17.7 million as of September 30, 2024, primarily due to a reduction in unbilled revenue from completed projects[184] Shareholder Returns - The company does not recommend the payment of any final dividend for the year ended September 30, 2024[34] - The company did not recommend a final dividend for the years ended September 30, 2024, and 2023[127]
成志控股(01741) - 2024 - 年度业绩