Financial Performance - The company reported a loss attributable to equity holders of HKD 394.9 million for the year ended March 31, 2025[3]. - Revenue for the year was HKD 86.044 million, a decrease from HKD 90.607 million in the previous year, representing a decline of approximately 5.8%[4]. - The gross loss was HKD 48.475 million, improved from a gross loss of HKD 116.951 million in the prior year[4]. - Operating loss for the year was HKD 426.253 million, compared to HKD 338.493 million in the previous year, reflecting a worsening operational performance[4]. - The basic and diluted loss per share was HKD 0.1683, compared to HKD 0.1367 in the previous year, indicating an increase in losses per share[4]. - Total comprehensive loss for the year was HKD 441.145 million, slightly improved from HKD 476.030 million in the previous year[5]. - The company reported a significant decrease in other comprehensive income, with a net exchange difference of HKD (3.944) million compared to HKD (120.065) million in the previous year[5]. - The fair value change of financial assets amounted to HKD (38.926) million, worsening from HKD (19.744) million in the prior year[5]. - The net loss for the year 2025 is projected at HKD (396,466) million, compared to HKD (323,043) million in 2024, representing an increase in losses of approximately 22.8%[17][18]. Assets and Liabilities - Total assets decreased from HKD 3,918,718,000 in 2024 to HKD 3,406,041,000 in 2025, a decline of approximately 13.0%[6]. - Non-current assets decreased from HKD 2,158,980,000 in 2024 to HKD 1,723,753,000 in 2025, a reduction of about 20.2%[6]. - Current assets decreased from HKD 2,525,227,000 in 2024 to HKD 1,893,938,000 in 2025, representing a decline of approximately 25.0%[6]. - Total liabilities decreased from HKD 776,269,000 in 2024 to HKD 211,650,000 in 2025, a significant reduction of about 72.8%[7]. - Cash and cash equivalents dropped from HKD 920,141,000 in 2024 to HKD 367,783,000 in 2025, a decrease of approximately 60.0%[6]. - The company's equity decreased from HKD 3,428,956,000 in 2024 to HKD 2,987,811,000 in 2025, a decline of about 12.8%[7]. - The company’s non-current liabilities decreased from HKD 489,762,000 in 2024 to HKD 418,230,000 in 2025, a decline of approximately 14.6%[7]. Revenue Breakdown - Revenue from sales of goods was HKD 49,723,000, up from HKD 44,077,000, indicating a growth of about 12.0%[14]. - Rental income and management fees amounted to HKD 19,579,000, slightly down from HKD 20,089,000, reflecting a decrease of approximately 2.5%[14]. - Revenue from asset sales was HKD 18,307,000, down from HKD 21,288,000, showing a decline of about 13.9%[14]. - The total revenue from the Hong Kong region for 2025 is HKD 49,579 million, a decrease from HKD 10,258 million in 2024, reflecting a decline of approximately 51.6%[19]. Accounting Standards and Compliance - The group has assessed the impact of new accounting standards and interpretations, concluding that they will not have a significant effect on performance or financial position[11]. - The group plans to adopt new accounting standards effective from April 1, 2025, but does not expect significant changes in financial reporting[12]. - The group is currently evaluating the potential impact of new standards that will take effect from January 1, 2026, and anticipates no major changes in financial performance[13]. - The group has not adopted certain new standards and interpretations early, which will be mandatory from April 1, 2025[12]. - The group has adhered to the listing rules and established an audit committee to oversee financial reporting and risk management[65]. Operational Insights - The main operating decisions are made by the executive directors and senior management, who evaluate performance based on internal reports[15]. - The group operates in various segments, including property development, investment, and cemetery operations, which are assessed for performance and resource allocation[15]. - The group will optimize its business operations and seek opportunities to increase cash reserves for maximum shareholder returns[61]. Market and Economic Outlook - The group has a cautious outlook on the global economic environment, particularly in China, where government support policies are stabilizing the real estate market[61]. - The real estate market in Hong Kong is expected to gradually recover due to government measures and interest rate reductions[61]. Employee and Corporate Governance - As of March 31, 2025, the group employed 72 staff members and offers various employee benefits, including discretionary bonuses and medical insurance[63]. - The group will suspend share registration procedures from September 10 to September 15, 2025, for the annual general meeting[62]. - The preliminary announcement of the group's performance for the year ending March 31, 2025, has been agreed upon by the auditors[68]. Investment and Asset Management - The company holds a 61.15% stake in Profit Stability Investments Limited, a subsidiary registered in the British Virgin Islands[9]. - The group holds approximately 19.35% interest in Beihai Group and 0.6% in Zhongqi Group, with total investment value of approximately HKD 84.2 million as of March 31, 2025[54]. - The group has a total investment of HKD 124 million, including HKD 26.6 million in listed company bonds and HKD 200,000 in securities listed on the exchange[55]. - The group recorded a pre-tax loss of HKD 7.9 million from investments, including HKD 600,000 from bond interest and other income[56].
庄士中国(00298) - 2025 - 年度业绩