Financial Performance - For the fiscal year ending March 31, 2025, the group recorded revenue of approximately HKD 395.9 million, a decrease of about HKD 62.9 million or 13.7% compared to the fiscal year ending March 31, 2024[5]. - The net profit attributable to the company's owners for the fiscal year ending March 31, 2025, was approximately HKD 41.7 million, a slight increase of about HKD 0.9 million or 2.3% from HKD 40.8 million for the fiscal year ending March 31, 2024[5]. - The gross profit margin improved despite the decrease in revenue, with gross profit recorded at HKD 65.7 million compared to HKD 66.6 million in the previous year[6]. - The company reported a pre-tax profit of HKD 48.9 million for the fiscal year ending March 31, 2025, compared to HKD 49.3 million in the previous year[6]. - Total comprehensive income for the year was HKD 41.7 million, reflecting a slight increase from HKD 40.8 million in the previous year[6]. - The company’s earnings per share for the fiscal year ending March 31, 2025, was HKD 14.9, up from HKD 14.6 in the previous year[6]. - The company's total employee costs amounted to HKD 7,506,000 in 2025, compared to HKD 7,272,000 in 2024, representing an increase of 3.2%[22]. - The company’s tax expenses for 2025 were HKD 7,263,000, down from HKD 8,523,000 in 2024, showing a decrease of 14.8%[23]. - The company reported other income of HKD 4,073,000 for 2025, up from HKD 2,743,000 in 2024, reflecting a significant increase of 48.6%[21]. Assets and Liabilities - Total assets decreased from HKD 261,472,000 in 2024 to HKD 293,148,000 in 2025, representing an increase of 12.1%[7]. - Current assets increased significantly from HKD 219,152,000 in 2024 to HKD 253,405,000 in 2025, a growth of 15.6%[7]. - Cash and cash equivalents dropped from HKD 104,907,000 in 2024 to HKD 23,894,000 in 2025, a decline of 77.2%[7]. - Non-current assets decreased from HKD 55,376,000 in 2024 to HKD 53,654,000 in 2025, a reduction of 3.1%[7]. - Total liabilities increased from HKD 13,056,000 in 2024 to HKD 13,911,000 in 2025, an increase of 6.5%[7]. - The company's equity rose from HKD 261,395,000 in 2024 to HKD 291,881,000 in 2025, reflecting an increase of 11.7%[7]. - The company’s retained earnings increased from HKD 258,595,000 in 2024 to HKD 289,081,000 in 2025, a growth of 11.8%[7]. - The company's trade payables as of March 31, 2025, were HKD 9,033,000, an increase from HKD 8,569,000 in 2024, reflecting an increase of 5.4%[29]. - The group’s total liabilities, including lease liabilities, are approximately HKD 2.2 million as of March 31, 2025, compared to HKD 1.1 million as of March 31, 2024[45]. Revenue Breakdown - The group's revenue from frozen seafood wholesale for 2025 is HKD 395,868,000, a decrease of 13.7% from HKD 458,725,000 in 2024[17]. - Revenue from frozen seafood retail customers in 2025 is HKD 384,886,000, down 13.6% from HKD 445,442,000 in 2024[18]. - Revenue from frozen seafood catering services in 2025 is HKD 10,982,000, a decrease of 17.3% from HKD 13,283,000 in 2024[18]. - Revenue from Hong Kong in 2025 is HKD 314,945,000, down 3.9% from HKD 326,184,000 in 2024[19]. - Revenue from mainland China in 2025 is HKD 46,080,000, a significant decrease of 52.3% from HKD 96,746,000 in 2024[19]. Corporate Governance and Compliance - The board of directors recommended a final dividend of HKD 0.042 per ordinary share for the fiscal year ending March 31, 2025[5]. - The company proposed a final dividend of HKD 0.042 per share for the year ending March 31, 2025, totaling HKD 11,760,000, an increase from HKD 11,200,000 in 2024[25]. - The audit committee, established on September 21, 2017, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal control procedures[67][68]. - The audit committee has reviewed the audited financial statements for the year ending March 31, 2025, and believes they comply with applicable accounting standards and legal requirements[68]. - The company has adopted the GEM Listing Rules regarding directors' securities trading, confirming compliance since the listing date until March 31, 2025[60]. Future Outlook and Strategy - The group plans to closely monitor market conditions, especially in the local retail market, and will strengthen cost-saving measures in response to ongoing challenges[32]. - The group aims to establish more exclusive agency or sales arrangements with existing and new overseas suppliers to enhance its product offerings and maintain competitiveness[34]. - The group remains cautiously optimistic about its business outlook despite the weak performance in the local retail market due to changing consumer trends and uncertainties from U.S. trade policies[32]. - The group will continue to explore potential business opportunities with new suppliers and customers to strengthen its market position in the frozen seafood import and wholesale industry in Hong Kong[33]. Miscellaneous - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements[13]. - The new Hong Kong Financial Reporting Standards will take effect from January 1, 2027, allowing for early adoption[14]. - The group has no major customers contributing over 10% of total revenue in either year[20]. - The group confirms revenue recognition upon delivery of frozen seafood products to customers[15]. - The group operates primarily in the frozen seafood import and wholesale sector, focusing on revenue analysis by product and customer location[16]. - The group has not made any significant investments, acquisitions, or disposals of subsidiaries and associates as of March 31, 2025[48]. - The group faces foreign exchange risk due to business operations with overseas suppliers, primarily in Japan, China, and Canada[49]. - The group has pledged leasehold land and buildings totaling approximately HKD 47.2 million as of March 31, 2025[51]. - The group maintains a prudent financial policy to manage cash reserves and ensure strong liquidity for future development opportunities[50]. - The company has established a strong corporate culture and strategy, emphasizing integrity and ethical conduct as foundational values for sustainable growth[57]. - The board believes that maintaining a robust corporate governance framework is essential for safeguarding stakeholder interests and managing risks effectively[57]. - No significant events requiring disclosure have occurred after March 31, 2025, up to the date of this announcement[63]. - The annual general meeting of the company is scheduled for August 21, 2025[69]. - Share registration services will be suspended from August 18, 2025, to August 21, 2025, to determine voting rights[70]. - The company will suspend share registration procedures from August 28 to August 29, 2025, to facilitate the dividend distribution[65].
大洋环球控股(08476) - 2025 - 年度业绩