Financial Performance - The company's revenue for the year ended March 31, 2025, was HKD 21,446,588, an increase of 6.9% compared to HKD 20,052,902 for the previous year[4] - Other income and gains for the same period amounted to HKD 22,292,797, a significant recovery from a loss of HKD 11,596,265 in the prior year[4] - The company reported a pre-tax loss of HKD 73,076,584, compared to a loss of HKD 48,318,092 in the previous year, indicating a deterioration in performance[4] - The net loss attributable to shareholders for the year was HKD 74,715,680, compared to HKD 49,748,225 in the previous year, reflecting an increase in losses of approximately 50.2%[4] - The total comprehensive loss for the year was HKD 64,319,706, compared to a loss of HKD 59,989,672 in the previous year[4] - The net profit before tax loss for the year 2025 was HKD (73,076,584), compared to HKD (48,318,092) in 2024, indicating a significant increase in losses[17] - The group recorded a loss of approximately HKD 74,716,000, an increase of about HKD 24,967,000 (or 50.2%) compared to the previous year, primarily due to increased fair value losses on investment properties[43] Assets and Liabilities - The company's total assets decreased to HKD 1,009,594,016 from HKD 1,080,466,524, representing a decline of approximately 6.6%[5] - The total liabilities also decreased from HKD 22,719,664 in 2024 to HKD 6,823,064 in 2025, a reduction of about 70%[20] - The fair value of investment properties decreased to HKD 747,800,000 from HKD 856,700,000, reflecting a loss of approximately 12.7%[5] - The fair value of investment properties decreased from HKD 856,700,000 in 2024 to HKD 747,800,000 in 2025, reflecting a decrease of approximately 12.7%[27] - The group's total trade and other receivables increased from HKD 778,692,000 in 2024 to HKD 833,517,000 in 2025, an increase of approximately 7.0%[33] - The expected credit loss provision decreased from HKD 42,500,000 in 2024 to HKD 32,500,000 in 2025, a reduction of about 23.5%[34] Cash and Dividends - The company’s cash and bank deposits decreased to HKD 132,365,439 from HKD 140,603,978, a decline of approximately 5.3%[5] - The company declared dividends totaling HKD 800,000 for the year, consistent with the previous year[7] - The proposed final dividend per ordinary share remains at HKD 0.12 for both 2024 and 2025, totaling HKD 4,800,000[36] - Dividend distribution included an interim dividend of HKD 0.02 per share totaling HKD 800,000, and a proposed final dividend of HKD 0.12 per share totaling HKD 4,800,000[40] - The group’s dividend income increased by approximately HKD 774,000 (or about 14.3%) to approximately HKD 6,185,000[50] Investment Properties - The investment property rental income for 2025 was HKD 15,262,070, up from HKD 14,642,587 in 2024, reflecting a growth of 4.23%[22] - The group recorded a profit of approximately HKD 10,883,000 in the leasing segment, an increase of about HKD 427,000 (or 4.1%) compared to the previous year[45] - The fair value loss on investment properties was approximately HKD 108,906,000, compared to HKD 48,900,000 in the previous year, with the fair value of investment properties at HKD 747,800,000[47] - The group has suspended the reconstruction project at Fuk Chuen Street to minimize negative impacts on shareholder equity due to unfavorable market conditions[46] Financial Reporting Standards - The adoption of revised Hong Kong Financial Reporting Standards has no significant impact on the group's financial performance or position for the current or prior years[10] - The amendments clarify that liabilities are classified as current or non-current based on rights existing at the reporting date, with no expected impact on the group's classification of liabilities[11] - The group has no non-current liabilities with covenants, maintaining the classification of liabilities unchanged upon the initial application of the amendments[12] - New and revised Hong Kong Financial Reporting Standards that have been issued but not yet effective are expected to have no significant impact on the group's accounting policies and financial position, except for HKFRS 18[14] - HKFRS 18 is anticipated to change the presentation and disclosure of the consolidated financial statements significantly, affecting classifications and subtotals in the income statement[14] - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[15] Market Conditions and Future Outlook - The group anticipates continued pressure on property values and a volatile securities market due to geopolitical uncertainties and trade wars, with a conservative lending policy from banks towards property developers[60] - The group will continue to monitor market conditions, interest rate trends, and bank lending attitudes to make decisions that align with shareholder interests[60] Securities Investments - The fair value of listed securities increased from HKD 49,977,331 in 2024 to HKD 60,373,305 in 2025, representing an increase of approximately 20.0%[29] - The market value of the group's listed securities investment portfolio was approximately HKD 126,807,000, up from HKD 95,328,000 in the previous year[50] - The group has not used any financial instruments for hedging purposes in the fiscal years ending March 31, 2025, and 2024[57] - The total fair value of the top five trading securities is HKD 66,433,000, with a profit/loss ratio of 6.5% and total dividend income of HKD 3,176,000[53] - The top five long-term securities investments include Hong Kong Exchanges and Clearing Limited with a fair value of HKD 16,043,000, accounting for 1.6% of total assets, and generating dividend income of HKD 431,000[51]
永发置业(00287) - 2025 - 年度业绩