Financial Performance - For the fiscal year ending March 31, 2025, the group recorded a revenue decrease of approximately 1.6% to about HKD 106.1 million from approximately HKD 107.8 million in the previous fiscal year[13] - The total loss and comprehensive expenses for the fiscal year 2025 amounted to approximately HKD 24.7 million, an increase of about HKD 8.3 million due to losses from the sale of properties, plants, and equipment[13] - The company's revenue for the fiscal year 2025 decreased by approximately 1.6% to about HKD 106.1 million, down from approximately HKD 107.8 million in fiscal year 2024, primarily due to a reduction in income from equipment installation, dismantling, and testing services[24] - The cost of sales and services for fiscal year 2025 was approximately HKD 83.1 million, a decrease of about 0.9% from HKD 83.9 million in fiscal year 2024, attributed to the decline in revenue[25] - Gross profit for fiscal year 2025 was approximately HKD 22.9 million, down about 4.2% from HKD 23.9 million in fiscal year 2024, with a gross profit margin of approximately 21.6% compared to 22.2% in the previous year[26] - Administrative expenses increased to approximately HKD 31.5 million in fiscal year 2025 from HKD 24.6 million in fiscal year 2024, mainly due to a loss of approximately HKD 8.6 million from the sale of properties, plants, and equipment[28] - The financing costs rose by approximately 30.9% to about HKD 1.9 million in fiscal year 2025 from HKD 1.5 million in fiscal year 2024, primarily due to increased financial expenses from outstanding bank loans and other borrowings[29] - The total loss and comprehensive expenses for fiscal year 2025 amounted to approximately HKD 24.7 million, compared to about HKD 0.6 million in fiscal year 2024, largely due to increased losses from the sale of properties and impairment losses[30] Business Strategy and Market Outlook - The company aims to capture potential growth in the Hong Kong construction market despite a challenging and competitive business environment[14] - The group plans to adopt proactive and prudent business strategies to enhance long-term profitability and shareholder value[14] - The company will explore other potential investment opportunities to diversify its business and create new revenue sources[15] - The company is confident in the strong demand for tower cranes in the coming years, driven by the ongoing need for public housing construction in Hong Kong[19] Capital Expenditures and Financial Position - Capital expenditures for fiscal year 2025 were approximately HKD 60.3 million, significantly higher than HKD 32.8 million in fiscal year 2024, with about 95.8% of the capital expenditure allocated to the purchase of additional tower cranes[31] - As of March 31, 2025, the company's cash and cash equivalents were approximately HKD 12.4 million, down from HKD 13.3 million a year earlier[32] - The company's debt-to-equity ratio increased to approximately 56.9% as of March 31, 2025, compared to 23.3% a year earlier, primarily due to an increase in outstanding bank and other borrowings[32] Corporate Governance and Management - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors, responsible for the overall management and business operations of the group[44] - The company has established long-term business relationships with several customers, some exceeding 10 years, including construction companies and trading firms in Hong Kong[70] - The company confirms compliance with all applicable laws and regulations in Hong Kong that have a significant impact on its business and operations for the fiscal year 2025[73] - The company emphasizes the importance of employee support as a valuable asset and aims to reward high-performing employees through competitive compensation and training opportunities[69] - The company has established safety, quality, and environmental management systems to meet customer requirements and ensure compliance with safety and environmental standards[72] Shareholder Information and Dividends - The board of directors decided not to recommend a final dividend for the fiscal year 2025, consistent with the previous fiscal year[38] - The company reported no dividends for the fiscal year 2025[65] - The company's available reserves for distribution as of March 31, 2025, amount to approximately HKD 4,753,000, a decrease from approximately HKD 15,838,000 in the previous fiscal year 2024[77] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance report covers the company's efforts in corporate social responsibility, focusing on construction equipment rental services and equipment trading for the fiscal year ending March 31, 2025[177] - The company has established an Environmental, Social, and Governance (ESG) working group to manage ESG risks and internal control systems effectively[179] - The company aims to integrate environmental and social considerations into its business objectives, focusing on reducing greenhouse gas emissions and improving waste management[184] - The company is committed to maintaining its position as a leading temporary crane rental service provider in Hong Kong while adopting sustainable business practices[186] - The total greenhouse gas emissions for the fiscal year ending March 31, 2025, were 174 tons of CO2 equivalent, a decrease of 25 tons from 199 tons in the previous year[197] - The company aims to explore and evaluate the use of clean energy and more efficient transportation methods to further reduce carbon emissions[198] Employee and Workforce Information - The group employed 32 full-time employees as of March 31, 2025, with total employee costs of approximately HKD 27.8 million for the fiscal year 2025[42] - The company has 32 employees, with approximately 94% being male and 6% female, indicating a commitment to increasing female representation in the workforce[139] Risk Management and Internal Controls - The board is responsible for the risk management and internal control systems, ensuring their effectiveness in achieving strategic objectives[163] - The company conducts internal control assessments at least annually to identify significant risks affecting its operations[164] - The board believes that the risk management and internal control systems are adequate and effective[164]
兴铭控股(08425) - 2025 - 年度业绩