Financial Performance - The company's total revenue for the year ended March 31, 2025, was HKD 236,429,000, a decrease of 16.9% compared to HKD 284,430,000 for the year ended March 31, 2024[4] - Gross profit for the year was HKD 172,983,000, down 16.7% from HKD 207,729,000 in the previous year[4] - Net profit for the year was HKD 52,315,000, representing a decline of 10.5% from HKD 58,397,000 in the prior year[4] - Basic and diluted earnings per share for the year were HKD 2.30, compared to HKD 2.60 in the previous year, reflecting a decrease of 11.5%[4] - The company's profit before tax for 2025 was HKD 75,955,000, a decrease of 13.4% from HKD 87,718,000 in 2024[27] - The total income tax expense for 2025 was HKD 23,640,000, down from HKD 29,321,000 in 2024, reflecting a 19.4% reduction[27] - The basic earnings per share for 2025 was HKD 0.023, compared to HKD 0.026 in 2024, indicating a decline of 11.5%[30] - The company recorded a net profit of approximately HKD 52.3 million for the year, down from HKD 58.4 million in the previous year, representing a decrease of about 1.9%[55] - Total revenue decreased to approximately HKD 236.4 million, down 16.9% from HKD 284.4 million in the previous year, primarily due to a 17% reduction in the number of burial plots sold[56] - Gross profit decreased to approximately HKD 173 million, down from HKD 207.7 million, reflecting a gross margin of 73.2% compared to 73.0% in the previous year[56] Assets and Liabilities - The company's total assets as of March 31, 2025, were HKD 1,119,562,000, slightly down from HKD 1,127,651,000 in the previous year[6] - Current assets decreased to HKD 560,052,000 from HKD 583,520,000, a decline of 4.0%[6] - The company's cash and cash equivalents were HKD 264,944,000, down from HKD 339,428,000, indicating a decrease of 22.0%[6] - Non-current liabilities totaled HKD 146,097,000, a slight decrease from HKD 148,980,000 in the previous year[7] - Trade receivables at the end of 2025 amounted to HKD 2,444,000, an increase from HKD 1,009,000 in 2024, showing a growth of 142.4%[34] - Trade payables at the end of 2025 were HKD 33,307,000, a decrease of 8.8% from HKD 36,456,000 in 2024[35] Income and Expenses - Sales of burial plots and niches contributed HKD 206,150,000 in 2025, down from HKD 254,494,000 in 2024, representing a decline of 19.0%[22] - Management fee income increased to HKD 8,326,000 in 2025 from HKD 5,144,000 in 2024, reflecting a growth of 61.5%[22] - Total other income decreased to HKD 6,110,000 in 2025 from HKD 8,744,000 in 2024, a decline of 30.0%[22] - Other income decreased by approximately HKD 2.6 million, mainly due to a reduction in bank interest received by about HKD 4.9 million[57] - Selling and distribution expenses decreased to approximately HKD 22.4 million from HKD 37.8 million, attributed to reduced promotional expenses for the cemetery market[58] - Administrative expenses decreased to approximately HKD 79.6 million from HKD 90.3 million, mainly due to lower wages and maintenance costs[59] Dividends - The company declared an interim dividend of HKD 0.5 per share for 2025, down from HKD 0.8 per share in 2024, representing a 37.5% decrease[28] - The company proposed a final dividend of HKD 0.011 per share, down from HKD 0.013 per share in the previous year, resulting in a total dividend of HKD 0.016 per share for the year[73] - The proposed final dividend is subject to approval at the upcoming annual general meeting, with the record date for dividend entitlement on September 12, 2025[74] Regulatory and Reporting Standards - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on its financial statements[9] - The group is currently assessing the impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements, expected to affect the presentation of the income statement and future disclosures[15] - The application of the 2020 amendments to the classification of liabilities as current or non-current did not have a significant impact on the consolidated financial statements for the year[11] - The group plans to apply all other amendments to the Hong Kong Financial Reporting Standards that are expected to be effective in the foreseeable future, with no significant impact anticipated on the consolidated financial statements[14] - The audit committee, composed entirely of independent non-executive directors, has reviewed the accounting principles and discussed risk management and internal controls[75] - The group's auditor confirmed that the preliminary announcement aligns with the audited financial statements for the year[76] - The annual report containing all required information will be sent to shareholders and published on the stock exchange and the company's website[77] Business Operations and Strategy - The group has a single operating segment, with all revenue and profit derived from the cemetery business in China, with no single customer contributing 10% or more to total revenue[17][20] - The group actively participated in the government's regulatory efforts in the funeral sector, enhancing operational management and service levels across various projects[40] - The integration of technology and culture is a core engine for the group's industry transformation, with projects like the "Smart Life Experience Space" utilizing AI and holographic technology[41] - The group has developed new eco-friendly burial methods, including "water-soluble paper" for memorial services, which received significant social recognition[41] - The group has established a memorial square for martyrs of the Vietnam War, enhancing its brand reputation through patriotic education initiatives[42] - The group emphasizes a people-oriented business philosophy, actively engaging in social responsibility and community charity activities[42] - The group has focused on innovation and collaboration with funeral institutions to enhance service offerings and operational efficiency[43] - The group has improved its project facilities, including updates to monitoring and waste treatment systems, to increase land utilization rates[41] - The group has maintained a steady approach to business amidst geopolitical and economic uncertainties, ensuring operational stability[39] - The company aims to enhance land utilization efficiency and focus on core funeral services, emphasizing the importance of innovation-driven development and the integration of AI and digital technologies[45] - The flagship project, Zhejiang Anxian Garden, integrates cutting-edge technologies such as AI interaction and cloud memorial services, creating a new service model that combines technology and humanity[51] - The company is committed to promoting green funerals and modernizing the industry, aiming to become a benchmark enterprise in the global funeral service sector[52] - The shift in consumer demand towards personalized and customized funeral services is driving significant growth in the industry, supported by cultural heritage and technological advancements[48] - The company plans to further explore brand value and enhance corporate image while expanding its service offerings in the funeral sector[52] - The 2024 "14th Five-Year" plan emphasizes the construction of a green and intelligent funeral system, providing policy support for innovative models like ecological burials and cloud memorials[47] - The company is actively engaging in community life education and social charity activities, receiving strong support from the government and positive feedback from various sectors of society[51]
安贤园中国(00922) - 2025 - 年度业绩