Financial Performance - The company's revenue for the year ended March 31, 2025, was HKD 470,308,000, a decrease of 45.6% compared to HKD 864,305,000 in 2024[4] - The gross loss for the year was HKD 4,025,000, compared to a gross profit of HKD 12,033,000 in the previous year[4] - The net loss for the year was HKD 46,098,000, an increase of 47.8% from a net loss of HKD 31,181,000 in 2024[5] - Basic and diluted loss per share was HKD 0.218, compared to HKD 0.146 in the previous year[5] - The reportable segment profit for the year ending March 31, 2025, shows a loss of HKD 4,571,000 compared to a profit of HKD 11,453,000 in the previous year[21] - The company reported a pre-tax loss of HKD 45,881,000 for 2025, compared to a loss of HKD 30,782,000 in 2024, reflecting an increase in losses of 49.0%[37] - The group recorded a net loss of approximately HKD 46,098,000 this year, an increase of about 48% from the previous year's loss of approximately HKD 31,181,000[52] Revenue Breakdown - Revenue from the procurement and sale of metal minerals and related industrial materials was HKD 366,084,000, down 50% from HKD 731,918,000 in 2024[12] - Revenue from the production and sale of industrial products was HKD 104,224,000, a decrease of 21.3% from HKD 132,387,000 in the previous year[12] - Revenue from customers in China (excluding Hong Kong) for 2025 is HKD 438,474,000, down from HKD 864,305,000 in 2024, representing a decrease of 49.3%[25] - Major customer A generated revenue of HKD 102,906,000 in 2025, a decrease of 22.1% from HKD 132,231,000 in 2024[26] - Revenue from metal minerals and related industrial raw materials decreased to HKD 366,084,000 from HKD 731,918,000, representing a decline of 50%[23] - Revenue from industrial products also decreased to HKD 104,224,000 from HKD 132,387,000, a decline of 21.3%[23] Assets and Liabilities - Total assets decreased to HKD 458,409,000 from HKD 495,865,000, reflecting a decline of 7.5%[7] - Total reportable segment assets as of March 31, 2025, are valued at HKD 503,733,000, down from HKD 552,410,000 in the previous year[21] - Total reportable segment liabilities are HKD 129,184,000 for the year ending March 31, 2025, slightly down from HKD 130,603,000 in the previous year[22] - Trade receivables decreased to HKD 115,498,000 from HKD 147,974,000, a decline of 22%[7] - Trade receivables as of 2025 amount to HKD 172,877,000, down from HKD 207,278,000 in 2024, a decrease of 16.6%[39] - Trade payables increased to HKD 88,479,000 in 2025 from HKD 74,145,000 in 2024, an increase of 19.3%[42] Cash Flow and Other Income - The company's cash and cash equivalents decreased to HKD 3,134,000 from HKD 6,503,000, a drop of 51.8%[7] - The company reported a net other income of HKD 995,000 for the year ending March 31, 2025, down from HKD 3,169,000 in the previous year[21] - Total other income for 2025 is HKD 995,000, down from HKD 3,169,000 in 2024, indicating a decline of 68.7%[27] - Other income decreased by approximately 69%, from about HKD 3,169,000 in the previous year to approximately HKD 995,000 this year[46] Expenses - Total employee benefits expenses, including director remuneration, increased to HKD 21,064,000 in 2025 from HKD 20,666,000 in 2024, an increase of 1.9%[31] - Employee costs, including director remuneration, increased to approximately HKD 23,368,000 from about HKD 20,962,000 in the previous year[60] - Administrative expenses rose by approximately 24%, from about HKD 13,620,000 in the previous year to approximately HKD 16,941,000 this year[47] - The company recorded an impairment loss of HKD 10,661,000 on property, plant, and equipment in 2025, with no such loss reported in 2024[32] Corporate Governance and Future Outlook - The company has adopted a corporate governance code to ensure effective leadership and separation of roles between the chairman and CEO[64] - The company’s governance policies and compliance with the corporate governance code will be reviewed periodically by the board[65] - The company’s financial reporting and internal control principles are maintained in collaboration with its auditors[67] - The company will publish its annual report on its website and the stock exchange for shareholders[69] - The company remains cautiously optimistic and is actively seeking opportunities to improve shareholder returns amid global economic slowdown[62] - The company anticipates a positive impact on its business performance due to a rebound in domestic steel demand and infrastructure recovery, despite ongoing geopolitical tensions and trade uncertainties[62] - The demand for manganese is expected to rise as it is increasingly used in new battery materials for electric vehicles, which have seen a continuous increase in sales[62] Dividends - The company has not declared or proposed any dividends for the year ending March 31, 2025, consistent with 2024[34] - The company will not declare a final dividend for the year ending March 31, 2025, consistent with the previous year[63] Audit and Compliance - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending March 31, 2025[67] - The company has not purchased, sold, or redeemed any of its listed securities during the year ending March 31, 2025[68] Acquisitions and Disposals - The group has no significant acquisitions or disposals during the reporting period[55] - The company acquired non-current segment assets worth HKD 14,094,000 during the year ending March 31, 2025, compared to HKD 6,410,000 in the previous year[22]
新源万恒控股(02326) - 2025 - 年度业绩