Financial Performance - For the fiscal year ending March 31, 2025, the group recorded revenue of approximately HKD 164.8 million, an increase of about HKD 46.0 million or 38.7% compared to HKD 118.8 million for the fiscal year ending March 31, 2024[4] - The company reported a profit attributable to owners of approximately HKD 0.6 million, a turnaround from a loss of HKD 17.6 million for the previous fiscal year, primarily due to increased revenue and a reduction in impairment losses related to a customer under Chapter 7 bankruptcy protection[4] - The gross profit for the fiscal year ending March 31, 2025, was HKD 37.9 million, compared to HKD 27.2 million for the previous year, reflecting a gross margin improvement[5] - The group reported revenue from merchandise sales in clothing supply chain management services of HKD 164,813,000 for the year 2025, compared to HKD 118,829,000 for 2024, reflecting a growth of approximately 38.7%[16] - Total other income increased significantly to HKD 1,071,000 in 2025 from HKD 507,000 in 2024, reflecting a growth of approximately 111.5%[23] - The company reported a pre-tax profit of HKD 604,000 in 2025, a significant recovery from a loss of HKD 17,599,000 in 2024[30] - Gross profit increased from approximately HKD 27.2 million to approximately HKD 37.9 million, maintaining a gross margin of about 22.9%[45] - The company turned a loss into a profit, with a profit attributable to owners of the company of approximately HKD 0.6 million, compared to a loss of approximately HKD 17.6 million in the previous year[46] Assets and Liabilities - The total assets less current liabilities amounted to HKD 17.4 million as of March 31, 2025, compared to HKD 17.0 million in the previous year[6] - The company’s total equity attributable to owners increased to HKD 17.0 million from HKD 16.2 million year-over-year[7] - The company’s cash and cash equivalents rose to HKD 14.5 million from HKD 10.2 million, indicating improved liquidity[6] - As of March 31, 2025, the group's bank borrowings amounted to approximately HKD 19,749,000, with HKD 10,250,000 due within one year[17] - The group has unutilized bank financing of HKD 10,000,000 as of March 31, 2025[17] - The group has a current liability exceeding current assets by approximately HKD 4,038,000, indicating potential liquidity challenges[13] - The directors believe that the group will generate sufficient cash flows from operations and other sources to meet its financial obligations within the next twelve months[13] - The group’s current liabilities exceed current assets by approximately HKD 4,038,000[100] - As of the reporting date, the group's bank borrowings amount to HKD 19,749,000, while bank balances and cash are approximately HKD 14,532,000, insufficient to cover borrowings due within twelve months[100] Expenses and Cost Control - The company’s financing costs remained stable at HKD 1.15 million for both fiscal years[5] - The company’s administrative expenses decreased to HKD 24.0 million from HKD 25.8 million, reflecting cost control measures[5] - The financing costs remained stable at HKD 1,150,000 for both 2025 and 2024[24] - Selling and distribution expenses increased by approximately 30.5% to about HKD 13.0 million, mainly due to commissions paid to sales agents[59] - Administrative expenses decreased by approximately 6.9% to about HKD 24.0 million, attributed to a reduction in employee costs and benefits[60] - The group is implementing strict cost control measures on administrative and capital expenditures to improve financial stability[17] Revenue Sources - Revenue from the United States increased to HKD 49,096,000 in 2025 from HKD 34,732,000 in 2024, representing a growth of approximately 41.5%[21] - Revenue from other European countries rose to HKD 65,512,000 in 2025 from HKD 38,117,000 in 2024, marking an increase of about 71.9%[21] - Revenue from outerwear increased significantly to HKD 42.3 million, accounting for 25.7% of total revenue, compared to HKD 18.1 million and 15.2% in the previous year[48] - Revenue from pants and shorts rose to HKD 44.3 million, representing 26.9% of total revenue, up from HKD 29.2 million and 24.5% in the previous year[48] Trade Receivables and Payables - Trade receivables increased to HKD 13.4 million from HKD 9.8 million in the previous year, indicating improved collection efforts[6] - Trade receivables amounted to HKD 13,694,000 in 2025, up from HKD 10,048,000 in 2024, indicating an increase of about 36.4%[31] - The highest amount of receivables from related companies was approximately HKD 3,270,000 in 2025, compared to HKD 3,333,000 in 2024[33] - Trade payables increased to HKD 14.7 million, up from HKD 7.3 million in the previous year, with a significant portion overdue by more than 90 days[38] Corporate Governance and Compliance - The board has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix C1, with some deviations noted[85] - An independent internal control review was conducted by an external consulting firm during the reporting period[85] - The company has not established an internal audit department, considering the scale and complexity of its operations[85] - The audit committee has reviewed the consolidated financial statements and confirmed compliance with applicable financial reporting standards and GEM listing rules[101] Shareholder Information - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2025[4] - The company did not declare any dividends for the year, with no recommendations for future dividends[28] - As of March 31, 2025, the company has 280,000,000 shares held by major shareholders, representing 70% ownership[88] - The company will suspend share transfer registration from September 9, 2025, to September 12, 2025, for the annual general meeting[97] - The company has confirmed compliance with the securities trading code by all directors during the reporting period[86] - No arrangements were made for directors or their close associates to benefit from acquiring shares or debt securities of the company during the reporting period[92] Employee Information - The company employed 41 full-time employees as of March 31, 2025, a slight decrease from 43 employees in the previous year[83] - The total employee costs, including director remuneration and other benefits, were approximately HKD 20.5 million, compared to HKD 20.8 million in the prior period[83] Market Strategy - The company has invested more resources in acquiring new customers to drive business growth[48] - The company is focusing on diversifying its market presence, particularly in Europe and Australia, to mitigate risks associated with the U.S. market[80] - The group has established strong relationships with five major clients, maintaining partnerships ranging from 1 to 7 years, which enhances its competitive advantage[82]
爱世纪集团(08507) - 2025 - 年度业绩