Financial Performance - Total revenue for the year ended March 31, 2025, was HKD 615,215,000, a decrease of 19.8% from HKD 767,561,000 in 2024[3] - Gross profit for the same period was HKD 280,856,000, down 27.2% from HKD 385,673,000 in 2024[3] - The company reported a loss before tax of HKD 103,149,000 compared to a profit of HKD 481,706,000 in the previous year[3] - Net loss for the year was HKD 106,788,000, a significant decline from a profit of HKD 473,325,000 in 2024[3] - Basic and diluted loss per share was HKD 10.28, compared to earnings of HKD 45.21 per share in the previous year[4] - The group reported a total loss before tax of HKD 103,149,000 for the year, with an annual loss of HKD 106,788,000 after tax expenses of HKD 3,639,000[17] - The group reported a revenue of HK$615.2 million for the fiscal year 2024/25, a decrease of 15.4% compared to HK$767.6 million in 2023/24[35] - The group incurred a loss attributable to equity holders of HK$107.0 million in 2024/25, compared to a profit of HK$473.2 million in the previous fiscal year[35] - The gross profit margin decreased to 45.7% in 2024/25 from 50.2% in 2023/24, reflecting a decline of 4.5%[35] Assets and Liabilities - Total assets as of March 31, 2025, were HKD 1,426,127,000, slightly down from HKD 1,428,625,000 in 2024[5] - The total segment assets as of March 31, 2025, were HKD 1,428,625,000, slightly up from HKD 1,426,127,000 in 2024[20] - The company has bank loans totaling HKD 241,890,000, with HKD 81,515,000 due within the next twelve months[8] - Non-current liabilities decreased to HKD 76,387,000 from HKD 78,641,000 in 2024[6] - The group's borrowing ratio is 17.4% as of March 31, 2025, down from 18.3% on March 31, 2024[48] - The group's net debt is HK$158.6 million, a decrease from HK$166.3 million on March 31, 2024[48] - Current assets and current liabilities are approximately HK$445.9 million and HK$430.3 million, respectively, resulting in a current ratio of about 1.04[48] Revenue by Segment - Total revenue for the watch retail segment in Hong Kong, Macau, and mainland China reached HKD 225,887,000, while the revenue for the rest of Asia was HKD 187,119,000, contributing to a total revenue of HKD 755,985,000 across all segments[17] - The "Time Corridor" group's revenue was HK$413.0 million in 2024/25, down 17.8% from HK$543.0 million in 2023/24[38] - The Greater China segment's revenue was HK$225.9 million in 2024/25, a decrease of 19.7% from HK$321.5 million in 2023/24[39] - The Southeast Asia segment's revenue decreased by 15.5% to HK$187.1 million in 2024/25 from HK$221.5 million in 2023/24[43] - The supply chain and wholesale trade segment's revenue fell by 9.9% to HK$202.2 million in 2024/25, down from HK$224.5 million in 2023/24[44] Expenses and Costs - The company incurred a total cost of goods sold of HKD 381,888,000 for the year ending March 31, 2025, compared to HKD 334,359,000 in 2024[20] - Employee benefit expenses for 2025 amounted to HKD 183,893,000, an increase from HKD 181,857,000 in 2024[20] - The group’s administrative net expenses totaled HKD 38,636,000, contributing to the overall financial performance[17] - The group’s financial costs amounted to HKD 22,666,000, affecting the overall profitability[17] Dividends and Shareholder Information - The company did not declare any dividends for the fiscal year ending March 31, 2025, consistent with 2024[29] - The group did not recommend a final dividend for the year ending March 31, 2025, consistent with the previous fiscal year[36] - Shareholders' equity amounts to HK$919.4 million as of March 31, 2025[49] Future Plans and Strategies - The company plans to close underperforming retail stores and implement cost control measures to improve liquidity[8] - The group plans to enhance its own watch brand development to drive gross profit growth and strengthen competitiveness in the Greater China and Southeast Asia markets[46] - The group is exploring opportunities in new regions, particularly in Belt and Road countries, to increase brand awareness[46] - The group has no significant investment or capital asset transformation plans as of March 31, 2025[52] Compliance and Governance - The company has adopted the code of conduct for directors' securities trading as per Appendix C3 of the listing rules, ensuring compliance without any violations during the reporting period[62] - The audit committee consists of three independent non-executive directors, who have reviewed the accounting principles and discussed risk management and internal controls with senior management and external auditors[63] - The company will publish its 2025 annual report at an appropriate time, which will be sent to shareholders and uploaded to the company's website[64] Accounting Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, which will impact the classification of current and non-current liabilities[12] - The new accounting policy did not result in changes to the classification of the group's borrowings, and no retrospective adjustments were made[11] - The group anticipates that the adoption of the new standards will not have a significant impact on the financial statements for the current or future periods[11] - The group is currently evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18 on the presentation and disclosure of financial statements[15]
宝光实业(00084) - 2025 - 年度业绩