Environmental Sustainability - The overall greenhouse gas emissions decreased by nearly 20% during the fiscal year, reflecting the company's commitment to sustainable development principles[13] - The company has successfully reduced resource consumption, including paper and electricity, during its operations[13] - The company is committed to integrating internationally recognized sustainable development measures into its business operations[13] - The company is committed to maintaining long-term environmental sustainability and has implemented various policies to conserve resources and reduce waste[73] - The company has not generated or emitted any pollutants during its business operations, thus not being subject to specific environmental regulations[73] Financial Performance - The company's revenue for the fiscal year 2024 was approximately HKD 40.1 million, a decrease of 13.5% from HKD 46.5 million in fiscal year 2023[21] - The service cost for fiscal year 2024 was approximately HKD 20.8 million, down from HKD 23.9 million in fiscal year 2023, reflecting a decrease in line with revenue decline[22] - Gross profit for fiscal year 2024 was HKD 19.2 million, with a gross margin of 48.0%, slightly down from 48.5% in fiscal year 2023[20][24] - The company recorded a pre-tax loss of HKD 6.3 million in fiscal year 2024, compared to a loss of HKD 7.7 million in fiscal year 2023[20] - The overall investment sentiment in the capital markets remained weak until the end of September 2024, despite some improvements following economic stimulus announcements[11] Client and Supplier Relationships - The top five clients contributed approximately 22.3% of total revenue in fiscal year 2024, up from 16.9% in fiscal year 2023, indicating a diversification in client base[18] - The top five customers accounted for approximately 22.3% of the total revenue, compared to 16.9% in 2023, with the largest customer contributing about 6.3% of total revenue[127] - The top five suppliers represented around 27.3% of total service costs, slightly down from 27.8% in 2023, with the largest supplier accounting for 7.6% of total service costs[127] - The company maintains a high customer retention rate, ensuring stable relationships with clients and suppliers[78] Cost Management - The company plans to continue prudent cost control while actively seeking new business opportunities amid challenging market conditions[11] - Selling expenses increased by 9.6% to approximately HKD 2.9 million in fiscal year 2024, primarily due to rising employee costs[25] - Administrative and other operating expenses rose by 14.9% to approximately HKD 28.2 million in fiscal year 2024, mainly due to increased impairment losses on non-current assets[26] Governance and Management - The management team includes experienced professionals with over 20 years in finance and accounting, ensuring strong oversight and governance[62][60] - The company has a dedicated audit committee and risk management committee to monitor financial performance and risks[59][62] - The company has a strong governance structure with independent non-executive directors providing oversight and independent opinions[58][62] - The board consists of five directors, with independent non-executive directors making up 60% of the board members[159] - The company has adopted a board diversity policy, focusing on a balanced skill set, experience, and diverse perspectives among board members[167] Risk Management - The Risk Management Committee was established on January 16, 2018, and is composed entirely of independent non-executive directors[198] - The Risk Management Committee held one meeting during the year to review risk management and internal control systems[199] - The committee is responsible for developing a risk management framework and providing guidance to management on risk management[200] - The committee conducts regular assessments of the adequacy and effectiveness of the risk management framework and internal control systems[200] Shareholder Information - The company has a total of 560,000,000 ordinary shares, representing 56.0% of the total issued share capital, acquired by Achiever Choice Limited[79] - As of September 30, 2024, Achiever Choice Limited holds 560,000,000 shares, representing 56.0% of the company's equity[103] - As of September 30, 2024, shareholder Yuen Sin Yi owns 192,200,000 shares, accounting for 19.2% of the company's equity[107] - Following the public offering on November 26, 2024, public shareholders held 247,330,000 shares, representing approximately 24.7% of the total issued shares, below the required 25%[143] - The company successfully restored the minimum public float requirement of 25% after a public sale of shares, with public shareholders holding 250,000,000 shares, equivalent to 25% of the total issued shares as of December 6, 2024[144] Future Outlook - Recent global interest rate cuts and economic stimulus measures from the Chinese government are expected to boost the recovery of the capital markets in China and Hong Kong[14] - The Hong Kong stock exchange recently completed its largest IPO project in three years, indicating a rebound in investor confidence and market liquidity[14] - The company has not disclosed any other entities or individuals holding interests in shares or related securities as of September 30, 2024[108] Compliance and Regulations - The company has established internal rules to ensure compliance with applicable laws and regulations in Hong Kong[74] - The company has not engaged in any related party transactions that require disclosure under GEM Listing Rules during the year[125] - The company has complied with all applicable provisions of the corporate governance code as per the GEM Listing Rules for the year ending September 30, 2024[154] Employee Development - The management team emphasizes employee training and development, including onboarding and team-building activities[77] - The total employee cost for the year was approximately HKD 22.9 million, compared to HKD 22.2 million in 2023, while the total remuneration for directors was around HKD 2.4 million, up from HKD 2.2 million[47]
钜京控股(08450) - 2024 - 年度财报