Financial Performance - For the fiscal year ending March 31, 2025, the total revenue was HKD 1,281,121,000, a decrease of 6.3% from HKD 1,366,939,000 in the previous year[3] - Gross profit for the same period was HKD 40,026,000, down 50.7% from HKD 81,085,000 year-on-year[3] - The net profit attributable to the owners of the company was HKD 13,255,000, representing a decline of 49.3% compared to HKD 26,149,000 in the prior year[3] - Basic earnings per share decreased to HKD 0.85 from HKD 1.67, reflecting a drop of 49.1%[3] - The company's revenue decreased by approximately HKD 85.8 million or 6.3% to about HKD 1,281.1 million for the year ending March 31, 2025, primarily due to reduced workload as several large-scale projects near completion[35] - Net profit for the year decreased by approximately HKD 12.8 million or 49.0% to about HKD 13.3 million, with net profit margins of approximately 1.0% and 1.9% for the years ending March 31, 2025, and 2024, respectively[41] Assets and Liabilities - Total assets increased to HKD 670,473,000 from HKD 647,622,000, marking a growth of 3.5%[4] - Cash and cash equivalents rose significantly to HKD 214,995,000 from HKD 131,386,000, an increase of 63.5%[4] - Trade receivables decreased to HKD 67,592,000 from HKD 95,270,000, a decline of 29.2%[4] - The company reported a significant increase in contract liabilities, rising to HKD 127,054,000 from HKD 73,984,000, an increase of 72.0%[4] - The total trade receivables decreased to HKD 67,592,000 in 2025 from HKD 95,270,000 in 2024, a reduction of 29.1%[25] - Contract liabilities increased to HKD 127,054,000 in 2025 from HKD 73,984,000 in 2024, reflecting an increase of 71.5%[26] Operational Highlights - The company primarily operates in the construction engineering sector, with all revenue derived from this segment[7] - The company has 27 ongoing construction projects with a total uncompleted contract value of approximately HKD 2,345.1 million as of March 31, 2025, compared to HKD 1,343.0 million in 2024, indicating a significant increase of 74.5%[30] - The company aims to deepen sustainable business development and create long-term value for shareholders through optimized construction business strategies and active bidding for projects[33] Cost Management - Direct costs decreased by approximately HKD 44.8 million or 3.5% to about HKD 1,241.1 million for the year ending March 31, 2025, driven by the corresponding decrease in revenue[36] - The company will continue to focus on cost control and enhancing operational efficiency in response to rising construction costs and competitive market conditions[32] Employee and Governance - As of March 31, 2025, the total employee cost was approximately HKD 242.3 million, an increase from approximately HKD 214.4 million for the previous year[55] - The company had 364 employees as of March 31, 2025, down from 412 employees the previous year[55] - The audit committee held three meetings during the year to review the company's interim and annual performance and internal control systems[59] - The company has fully complied with the corporate governance code as of March 31, 2025[58] Legal and Compliance - The company received a payment claim of approximately HKD 24.7 million related to a subcontracting agreement dated August 2023, which it disputes[52] - The company is seeking legal advice regarding the payment claim and intends to defend against it[52] - The company did not purchase, sell, or redeem any of its listed securities during the year ending March 31, 2025[56] - The company has adopted the standard code of conduct for directors' securities transactions and all directors have complied with it[57] - The external auditor confirmed that the financial statements for the year ending March 31, 2025, are consistent with the preliminary announcement[60] Dividends - The company did not declare or propose any dividends for the years ended March 31, 2025, and 2024[24] - The company did not recommend any final dividend for the year ending March 31, 2025, consistent with the previous year[54]
誉燊丰控股(02132) - 2025 - 年度业绩