Financial Performance - The group's revenue for the year ended March 31, 2025, was HKD 93,689,000, a decrease of 8.5% compared to HKD 102,076,000 for the previous year[5] - Gross profit for the same period was HKD 14,930,000, down 28.8% from HKD 20,984,000 year-on-year[5] - The operating loss increased to HKD 12,770,000 from HKD 11,514,000, reflecting a year-on-year increase of 10.9%[5] - The net loss for the year was HKD 12,997,000, compared to a net loss of HKD 12,091,000 in the previous year, representing an increase of 7.5%[5] - Revenue from residential interior design and renovation services for 2025 was HKD 90,880,000, a decrease from HKD 95,755,000 in 2024[21] - Revenue from commercial interior design and renovation services for 2025 was HKD 2,809,000, down from HKD 6,321,000 in 2024[21] - Total revenue from customer contracts for 2025 was HKD 93,689,000, compared to HKD 102,076,000 in 2024[21] - The group recorded a net loss of approximately HKD 13.0 million for the year ended March 31, 2025, compared to a net loss of about HKD 12.1 million in the same period of 2024[42] - The gross profit decreased by approximately 28.9% to about HKD 14.9 million, with a gross margin of approximately 15.9%, down from 20.6% in 2024[47] Cash Flow and Liquidity - Cash and cash equivalents decreased significantly to HKD 12,120,000 from HKD 24,326,000, a decline of 50.2%[6] - The company has current liabilities of approximately HKD 4,395,000, indicating significant uncertainty regarding its ability to continue as a going concern[17] - For the fiscal year ending March 31, 2025, the company reported a net loss of approximately HKD 12,997,000, with current liabilities exceeding current assets by about HKD 10,183,000[17] - The company’s total liabilities exceeded its total assets by approximately HKD 10,183,000 as of March 31, 2025, raising significant doubts about its ability to continue as a going concern[39] - The group’s cash and bank balances were approximately HKD 12.1 million as of March 31, 2025, down from approximately HKD 24.3 million in 2024[63] Debt and Financing - The company obtained a new loan of HKD 2,000,000 from shareholder Dr. Chan for daily operations, which is interest-free and due by March 6, 2027[19] - A placement agreement was signed to issue 160,000,000 new shares at a price of HKD 0.045 per share, raising approximately HKD 7,000,000 after expenses[19] - The company secured a loan financing of HKD 15,000,000 from a financial institution, effective until December 2027[19] - The financing costs decreased to HKD 253,000 in 2025 from HKD 414,000 in 2024, a reduction of about 39%[30] - The group’s asset-liability ratio was approximately -176.5% as of March 31, 2025, compared to 86.0% in 2024, primarily due to recorded losses[64] Operational Efficiency - Total employee costs amounted to HKD 13,916,000 in 2025, down from HKD 17,631,000 in 2024, reflecting a decrease of approximately 21%[29] - Administrative and other operating expenses decreased by approximately 16.4% to about HKD 28.2 million, driven by effective cost control measures[49] - Direct costs decreased by about 2.8% to approximately HKD 78.8 million, primarily due to a reduction in employee costs and corresponding revenue decline[46] - The company recorded impairment losses of HKD 789,000 in 2025, compared to HKD 559,000 in 2024, indicating an increase of approximately 41%[29] Strategic Focus - The company continues to focus on providing interior design and renovation services in Hong Kong, with no new product or market expansion strategies disclosed in the report[9] - The company is actively seeking potential investors to improve its capital structure and provide additional liquidity for short-term obligations[19] - Management has implemented measures to expand the customer base and improve cash flow and profitability, including reviewing operational structures and renegotiating supplier contracts[19] - The group plans to enhance its marketing and promotional strategies to increase brand awareness in the renovation and interior design market[43] - The company aims to expand its business coverage in Hong Kong to reach more potential customers as the market size may grow[43] Corporate Governance - The company has adopted sound corporate governance principles to maintain stakeholder trust and ensure accountability[76] - The audit committee has reviewed the annual performance for the year ending March 31, 2025[80] - The group's financial statements have been verified by the auditor, confirming consistency with the audited financial reports[79] Shareholder Information - The company did not declare or propose any dividends for the year ended March 31, 2025, consistent with the previous year[32] - The company has not proposed any final dividends for the year ending March 31, 2025[74] - The total number of issued shares has increased to 960,000,000 following the placement[81] - The group has completed a placement of up to 160,000,000 shares, representing approximately 16.67% of the issued share capital post-completion, at a price of HKD 0.045 per share[81]
礼建德集团(08455) - 2025 - 年度业绩