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美捷汇控股(01389) - 2025 - 年度业绩
MAJOR HLDGSMAJOR HLDGS(HK:01389)2025-06-13 12:43

Financial Performance - Revenue decreased by 7.9% from HKD 63.0 million for the year ended March 31, 2024, to HKD 58.0 million for the year ended March 31, 2025[2] - Loss attributable to owners of the company reduced from HKD 15.7 million for the year ended March 31, 2024, to HKD 13.4 million for the year ended March 31, 2025[2] - Basic loss per share improved from HKD 3.96 for the year ended March 31, 2024, to HKD 2.41 for the year ended March 31, 2025[3] - The company reported a gross loss of HKD 8.88 million for the year ended March 31, 2025, compared to a gross profit of HKD 5.47 million for the previous year[3] - Other income decreased significantly from HKD 3,834 thousand in 2024 to HKD 873 thousand in 2025, a decline of approximately 77.2%[16] - The group reported a net loss of approximately 13,355,000 HKD for the year ended March 31, 2025, compared to a net loss of 15,683,000 HKD for the previous year[21] Assets and Liabilities - Total assets decreased from HKD 131.8 million in 2024 to HKD 116.9 million in 2025[4] - Current liabilities decreased from HKD 11.7 million in 2024 to HKD 8.0 million in 2025[4] - Net asset value decreased from HKD 122.97 million in 2024 to HKD 109.61 million in 2025[5] - Trade receivables decreased to 12,361,000 HKD in 2025 from 26,015,000 HKD in 2024, with a provision for losses of 4,422,000 HKD[25] - The group’s contract liabilities as of March 31, 2025, amounted to HKD 2.39 million, with expected revenue recognition from these liabilities in the upcoming fiscal year[34] Dividends and Shareholder Returns - The board did not recommend the payment of a final dividend for the year ended March 31, 2025[2] - The group did not recommend any dividend payment for the year ended March 31, 2025, consistent with the previous year[20] Expenses and Cost Management - Administrative expenses decreased significantly from HKD 12.27 million in 2024 to HKD 6.64 million in 2025[3] - The group's promotional, selling, and distribution expenses, along with administrative expenses, decreased by 41.0% from HKD 19.5 million for the year ended March 31, 2024, to HKD 11.5 million for the year ended March 31, 2025[41] - The group recognized impairment losses on inventory amounting to 2,833,000 HKD in 2025, compared to 810,000 HKD in 2024[23] - The group reported a significant reduction in depreciation expenses for property, plant, and equipment, which decreased to 263,000 HKD in 2025 from 1,675,000 HKD in 2024[19] Market and Sales Performance - Revenue from customer contracts decreased from HKD 63,039 thousand in 2024 to HKD 58,025 thousand in 2025, representing a decline of approximately 8.0%[11] - Major product sales in 2025 included red wine at HKD 45,841 thousand, white wine at HKD 2,959 thousand, and spirits at HKD 7,072 thousand, with red wine accounting for 78.9% of total sales[11] - The group’s total revenue from consignment commissions was HKD 214 thousand in 2025, down from HKD 541 thousand in 2024[16] - The total retail sales value in Hong Kong decreased by 7.3% in March 2025, with a decline in overall retail sales volume of 8.9%[36] Employee and Operational Changes - As of March 31, 2025, the group had 15 full-time employees, down from 22 in 2024, with total employee costs amounting to HKD 5.7 million, a decrease from HKD 7.5 million in 2024[65] - The group currently has no significant investments or capital asset plans as of March 31, 2025[51] Strategic Initiatives and Future Outlook - The company is implementing various strategic sales and marketing activities to expand its customer base and product offerings in response to market trends[86] - The company maintains a cautiously optimistic outlook on future economic recovery despite external challenges such as inflation and geopolitical risks[84] - The company is actively exploring new business opportunities to diversify its operations and enhance long-term shareholder value[87] Economic and Market Conditions - Global inflation is projected to decrease to 4.3% in 2025, with advanced economies seeing a significant adjustment while emerging markets may experience a slight decline[68] - Global growth rate is expected to drop from an estimated 3.3% in 2024 to 2.8% in 2025, reflecting a downward revision of 0.5 percentage points from previous forecasts[68] - The ongoing trade war and uncertainty in trade policies may further dampen both short-term and long-term growth prospects[68] - Increased policy uncertainty and trade tensions are expected to negatively impact growth forecasts for both the US and Eurozone economies[73] Investment and Capital Allocation - Approximately HKD 30.2 million from a rights issue is allocated to improve the company's online store and IT infrastructure[98] - Approximately HKD 17.5 million allocated for investment in opening new retail stores in China, purchasing inventory, renovations, rent, and employee costs[100] - Approximately HKD 10.0 million allocated for inventory purchases for the Hong Kong business[100] - Approximately HKD 11.0 million allocated for inventory purchases for the China business[101] Corporate Governance and Compliance - The company has adopted high standards of corporate governance and is committed to enhancing internal controls and procedures[91] - The company maintains sufficient public float as required by listing rules[94] - The company has not engaged in any significant transactions or arrangements involving directors' interests as of March 31, 2025[89]