亚积邦租赁(01496) - 2025 - 年度业绩

Group Financial Summary The group's key financial data for FY2025 shows a revenue decrease of 8.0% to HK$160,224 thousand, while profit for the year increased by 17.3% to HK$12,157 thousand Key Financial Data for FY2025 (Year Ended March 31) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 160,224 | 174,070 | (8.0%) | | Gross Profit | 46,450 | 52,042 | (10.7%) | | Profit for the Year | 12,157 | 10,364 | 17.3% | | Earnings Per Share (Basic, HK cents) | 1.41 | 1.20 | - | | Gross Profit Margin | 29.0% | 29.9% | - | | Profit Margin | 7.6% | 6.0% | - | | Return on Equity | 5.2% | 4.5% | - | | Final Dividend Per Share (HK cents) | 0.70 | 0.60 | - | Consolidated Financial Statements This section presents the group's consolidated financial performance and position, including statements of profit or loss, comprehensive income, and financial position Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended March 31, 2025, the group's total revenue decreased by 8.0% to HK$160,224 thousand, while profit for the year increased by 17.3% to HK$12,157 thousand, with gross profit declining to HK$46,450 thousand Summary of Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 160,224 | 174,070 | | Cost of Sales and Services | (113,774) | (122,028) | | Gross Profit | 46,450 | 52,042 | | Other Income | 3,377 | 3,232 | | Other Gains and Losses | 10,275 | 2,197 | | Profit Before Tax | 14,353 | 13,466 | | Income Tax Expense | (2,196) | (3,102) | | Profit for the Year | 12,157 | 10,364 | | Total Comprehensive Income for the Year | 12,319 | 9,764 | | Earnings Per Share—Basic (HK cents) | 1.41 | 1.20 | Consolidated Statement of Financial Position As of March 31, 2025, the group's total non-current assets amounted to HK$166,525 thousand, with net current assets of HK$92,299 thousand, resulting in net assets of HK$234,059 thousand Summary of Consolidated Statement of Financial Position | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Non-current Assets | | | | Property, Plant and Equipment | 153,584 | 165,925 | | Right-of-use Assets | 7,883 | 3,416 | | Total Non-current Assets | 166,525 | 174,127 | | Current Assets | | | | Inventories | 21,580 | 22,453 | | Cash and Cash Equivalents | 108,334 | 93,661 | | Total Current Assets | 172,600 | 165,299 | | Current Liabilities | | | | Trade and Other Payables and Accrued Expenses | 29,793 | 37,315 | | Borrowings—due within one year | 40,498 | 38,085 | | Total Current Liabilities | 80,301 | 89,008 | | Net Current Assets | 92,299 | 76,291 | | Non-current Liabilities | | | | Deferred Tax Liabilities | 18,545 | 20,645 | | Total Non-current Liabilities | 24,765 | 22,112 | | Net Assets | 234,059 | 228,306 | | Total Equity | 234,059 | 228,306 | Notes to the Financial Statements This section provides detailed explanatory notes and disclosures that support the consolidated financial statements, covering accounting policies and specific financial items 1. General Information The company was incorporated in the Cayman Islands on June 11, 2015, listed on the Hong Kong Stock Exchange on April 8, 2016, and presents its consolidated financial statements in Hong Kong dollars - The company was incorporated in the Cayman Islands on June 11, 2015, and listed on the Hong Kong Stock Exchange on April 8, 2016[7] - The consolidated financial statements are presented in Hong Kong dollars, which is also the company's functional currency[8] 2. Application of New and Revised Hong Kong Financial Reporting Standards Revisions to Hong Kong Financial Reporting Standards effective this year had no material impact on the group's financial position or performance, while new standards like HKFRS 18, not yet effective, are expected to affect profit or loss presentation and future disclosures - Revisions to Hong Kong Financial Reporting Standards applied this year had no material impact on the group's financial position and performance[9] - HKFRS 18, effective on or after January 1, 2027, will replace HKAS 1, introducing new requirements for profit or loss presentation and financial statement note disclosures, which are expected to impact the presentation of the statement of profit or loss and future financial statements[11][12] 3. Revenue and Segment Information The group's revenue primarily derives from equipment leasing, related operational services, and machinery and parts sales, totaling HK$160,224 thousand in FY2025, mainly from Hong Kong, with business segmented into leasing and trading Revenue from Contracts with Customers (by Geographical Market and Timing of Recognition) | Revenue Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Sales of machinery and parts | 7,896 | 24,860 | | Operational services related to leasing | 22,260 | 22,143 | | Repair and maintenance services | 3,632 | 5,747 | | Delivery services | 5,851 | 5,669 | | Installation services | 380 | 1,131 | | Total | 40,019 | 59,550 | | Recognized at a point in time | 13,747 | 30,529 | | Recognized over time | 26,272 | 29,021 | - Revenue from sales of machinery and parts is recognized when customers obtain control of the goods, while revenue from operational services related to leasing, repair, maintenance, and installation services is recognized over time[16][17][18] Segment Revenue and Results (FY2025) | Segment | Revenue (HK$ thousand) | Results (HK$ thousand) | | :--- | :--- | :--- | | Leasing | 152,328 | 43,393 | | Trading | 7,896 | 344 | | Total Segments | 160,224 | 43,737 | | Unallocated income | 2,799 | | | Unallocated expenses | (32,944) | | | Unallocated exchange gains | 714 | | | Share of results of a joint venture | 47 | | | Consolidated Profit Before Tax | | 14,353 | External Revenue by Geographical Area | Region | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong | 144,122 | 157,549 | | Macau | 4,789 | 3,891 | | China | 7 | 158 | | Singapore | 11,306 | 12,472 | | Total | 160,224 | 174,070 | - In FY2025, Customer A contributed HK$22,481 thousand in revenue, accounting for over 10% of total revenue[30] 4. Other Income Other income for FY2025 totaled HK$3,377 thousand, primarily comprising interest income from bank deposits and government grants related to asset acquisition Details of Other Income | Income Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest income from bank deposits | 2,768 | 2,553 | | Interest on life insurance policy deposits | 102 | 98 | | Government grants related to acquisition of assets | 147 | 130 | | Miscellaneous income | 360 | 451 | | Total | 3,377 | 3,232 | - Deferred income amortized to revenue amounted to HK$147 thousand in FY2025, with an ending deferred income balance of HK$282 thousand[31] 5. Other Gains and Losses Other gains and losses for FY2025 significantly increased to HK$10,275 thousand, primarily driven by substantial gains from the disposal of property, plant and equipment and net exchange gains Details of Other Gains and Losses | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net exchange gains (losses) | 714 | (315) | | Gain on disposal of property, plant and equipment | 9,561 | 2,512 | | Total | 10,275 | 2,197 | 6. Finance Costs Finance costs for FY2025 increased to HK$1,887 thousand, primarily comprising interest on borrowings and lease liabilities Details of Finance Costs | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest on borrowings | 1,739 | 1,460 | | Interest on lease liabilities | 148 | 196 | | Total | 1,887 | 1,656 | 7. Income Tax Expense Income tax expense for FY2025 was HK$2,196 thousand, mainly Hong Kong profits tax, including reversal of over-provision and deferred tax, with no tax provision for Macau, China, and Singapore subsidiaries due to lack of taxable profits or absorption by tax losses Details of Income Tax Expense | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong profits tax | 4,468 | 5,319 | | Over-provision in prior years—Hong Kong profits tax | (172) | (188) | | Deferred tax | (2,100) | (2,029) | | Total | 2,196 | 3,102 | - Hong Kong profits tax operates under a two-tiered system, with the first HK$2 million of assessable profits taxed at 8.25% and the remainder at 16.5%[33] - Subsidiaries in Macau, China, and Singapore did not incur income tax provisions in FY2025 due to reasons such as no assessable profits or assessable profits being absorbed by tax losses carried forward[34][35] 8. Profit for the Year Profit for the year was derived after deducting expenses such as auditor's remuneration, cost of inventories, depreciation, and staff costs, with total staff costs increasing to HK$62,832 thousand primarily due to salary growth Items Deducted in Arriving at Profit for the Year | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Auditor's remuneration | 1,874 | 1,800 | | Cost of inventories recognized as expense (including write-downs) | 7,320 | 12,406 | | Depreciation of property, plant and equipment | 43,808 | 45,220 | | Depreciation of right-of-use assets | 3,703 | 3,526 | | Directors' remuneration | 9,399 | 7,485 | | Other staff costs (salaries, benefits, pension contributions) | 53,433 | 53,742 | | Total Staff Costs | 62,832 | 61,227 | - The group operates a Mandatory Provident Fund Scheme for its employees in Hong Kong and participates in government-managed retirement benefit schemes for employees in Macau, China, and Singapore[36] 9. Dividends The Board recommends a final dividend of 0.70 HK cents per share for FY2025, bringing the total annual dividend to 0.86 HK cents per share, an increase from 0.60 HK cents in FY2024 - The Board recommends a final dividend of 0.70 HK cents per share for FY2025 (FY2024: 0.60 HK cents), totaling HK$6,048 thousand[38] - An interim dividend of 0.16 HK cents per share, totaling HK$1,382 thousand, was recognized in FY2025 (FY2024: nil)[38] - The total annual dividend for FY2025 is 0.86 HK cents per share (FY2024: 0.60 HK cents)[96] 10. Earnings Per Share Basic earnings per share for FY2025 increased to 1.41 HK cents from 1.20 HK cents in FY2024, calculated based on profit attributable to owners and the number of ordinary shares, with no diluted earnings presented due to the absence of potential ordinary shares Earnings Per Share Calculation Data | Item | 2025 | 2024 | | :--- | :--- | :--- | | Profit for the year attributable to owners of the company (HK$ thousand) | 12,157 | 10,364 | | Number of ordinary shares for basic EPS calculation (thousand shares) | 864,000 | 864,000 | | Basic Earnings Per Share (HK cents) | 1.41 | 1.20 | - No diluted earnings per share are presented for either year as there are no potential ordinary shares in issue[40] 11. Trade and Other Receivables, Deposits and Prepayments As of March 31, 2025, total trade and other receivables, deposits, and prepayments amounted to HK$43,854 thousand, with increased impairment provisions for lease receivables and trade receivables, and overdue receivables exceeding 90 days rising to HK$12,420 thousand Details of Trade and Other Receivables, Deposits and Prepayments | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Lease receivables (net of provision) | 38,075 | 36,067 | | Trade receivables (net of provision) | 639 | 2,319 | | Rental deposits paid | 650 | 650 | | Other deposits and prepayments | 4,490 | 5,976 | | Total | 43,854 | 45,012 | | Less: Provision for expected credit losses (lease receivables) | (17,682) | (15,036) | | Less: Provision for expected credit losses (trade receivables) | (487) | (286) | Ageing Analysis of Lease Receivables and Trade Receivables (Net of Credit Loss Provision) | Ageing | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 16,197 | 11,730 | | 31 to 60 days | 10,035 | 9,696 | | 61 to 90 days | 2,453 | 4,853 | | 91 to 180 days | 4,885 | 9,232 | | Over 180 days | 4,816 | 3,203 | | Total | 38,386 | 38,714 | - As of March 31, 2025, receivables overdue for 90 days or more but not considered in default increased to HK$12,420 thousand (2024: HK$7,983 thousand)[43] 12. Trade and Other Payables and Accrued Expenses As of March 31, 2025, total trade and other payables and accrued expenses decreased to HK$29,793 thousand, with accrued expenses primarily comprising staff costs and long service payment provisions Details of Trade and Other Payables and Accrued Expenses | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade payables | 7,293 | 5,452 | | Payables for acquisition of property, plant and equipment | 4,029 | 16,486 | | Accrued expenses | 15,474 | 12,486 | | Other payables | 2,997 | 2,891 | | Total | 29,793 | 37,315 | - Accrued expenses primarily include accrued staff costs of HK$9,774 thousand and long service payment provisions of HK$1,956 thousand[44] Ageing Analysis of Trade Payables | Ageing | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 1,685 | 2,616 | | 31 to 60 days | 787 | 841 | | 61 to 90 days | 2,746 | 414 | | 91 to 180 days | 26 | 197 | | Over 180 days | 2,049 | 1,384 | | Total | 7,293 | 5,452 | 13. Issued Share Capital As of March 31, 2025, the company's authorized share capital comprised 10,000,000,000 shares, with 864,000,000 shares issued, each with a par value of HK$0.001 Issued Share Capital | Item | Number of Shares | Share Capital (HK$ thousand) | | :--- | :--- | :--- | | Authorized share capital | 10,000,000,000 | 10,000 | | Issued share capital | 864,000,000 | 864 | Management Discussion and Analysis This section provides management's perspective on the group's financial performance, operational highlights, and future outlook, including key drivers and challenges Group Overview In FY2025, the group's net profit increased to HK$12.2 million, driven by higher equipment leasing income, increased gains from property, plant and equipment disposal, and improved joint venture performance, partially offset by increased inventory write-downs and expected credit loss provisions, while total revenue decreased by 8.0% and gross profit by 10.7% - Net profit for FY2025 was approximately HK$12.2 million, representing a 17.3% year-on-year increase (FY2024: HK$10.4 million)[46] - The increase in net profit was primarily attributable to: 1) increased equipment leasing income in Hong Kong, Macau, and Singapore; 2) a rise in gain on disposal of property, plant and equipment from HK$2.5 million to HK$9.6 million; and 3) the joint venture WAJV turning from a loss of HK$2.9 million to a profit of HK$47 thousand[46] - Adverse factors included: 1) an increase in inventory write-downs to HK$3.6 million (FY2024: HK$0.4 million) due to reduced sales of machinery and parts and decreased demand for obsolete leased equipment parts; and 2) a net provision for expected credit losses of approximately HK$2.8 million (FY2024: reversal of HK$1.7 million) due to Hong Kong's economic downturn, trade war risks, and increased overdue receivables[46] - Total revenue was approximately HK$160.2 million, a year-on-year decrease of 8.0%; gross profit was approximately HK$46.5 million, a year-on-year decrease of 10.7%; and gross profit margin was approximately 29.0% (FY2024: 29.9%)[47] - Basic earnings per share were 1.41 HK cents (FY2024: 1.20 HK cents)[48] Business Overview In FY2025, the group shifted its business focus to equipment leasing, enhancing profitability by restructuring its fleet and benefiting from increased demand in Hong Kong, Macau, and Singapore, while the China market transitioned to overseas equipment sales due to debt crises, with the group also promoting green solutions to boost leasing revenue - The business focus for FY2025 shifted to equipment leasing, with the leasing equipment fleet restructured to enhance profitability[49] - Hong Kong's leasing revenue saw net growth, primarily benefiting from demand for the Hong Kong International Airport Third Runway, Tung Chung, and Kwu Tung projects, though leasing income related to Kai Tak projects, T2-CKR, and private property developments decreased[49] - Macau and Singapore saw increased leasing revenue, despite a reduction in Singapore's operational service income due to the introduction of operator-free leased equipment[50][52] - The group enhanced its mobile power rental and solution services by introducing a 'mobile power intelligent system' and offering green solutions like biofuel generators, thereby boosting leasing revenue[51] - Revenue from sales of machinery and parts decreased as the business focus shifted to leasing equipment and disposing of obsolete or underutilized leased equipment[51] - Due to property developer debt crises, the China market saw all leased equipment sold, with the business focus shifting to overseas equipment sales[53] Outlook For FY2026, the group plans to continue investing in green energy equipment, capitalize on leasing demand from major Hong Kong projects, focus on government-related works in Macau, shift China operations to machinery trading, and expand in Singapore with small lifting solutions and new equipment for large projects, while promoting eco-friendly products across Asia Pacific to become an international event service provider - Despite facing headwinds such as Hong Kong's economic downturn, a weak property market, and escalating US trade tensions, the group will continue to invest in and promote green energy concept equipment, advocating for specialized machinery that enhances construction efficiency[54] - The group will continue to seize opportunities for leasing equipment in key Hong Kong projects, including the Third Runway and airport improvement works, Tung Chung projects, and Kwu Tung projects[54] - New opportunities will be explored in projects and activities mentioned in the Chief Executive's 2024 Policy Address, including the Northern Metropolis development, the Lok Ma Chau Loop Hong Kong-Shenzhen Innovation and Technology Park development, and the promotion of sports development[55] - Macau operations will continue to focus on government-related projects, as well as special events and entertainment activities, to increase leasing revenue[55] - China operations will focus on the procurement and trading of machinery and parts to meet both local and overseas market demands[55] - Singapore will maintain an upward revenue trend through a small lifting solutions strategy and invest in introducing more leased equipment to meet demand from large-scale projects such as Changi Airport's new Terminal 5[56] - Across the Asia Pacific region, the group will promote its self-developed green and environmentally friendly products, aiming to become an international large-scale event service provider[57] Financial Review In FY2025, total revenue decreased by 8.0% to HK$160.2 million due to reduced machinery and parts sales, while equipment leasing revenue share increased, and despite a decline in gross profit and margin, significant growth in other income and gains, coupled with reduced selling and distribution expenses, led to an increase in profit for the year and total comprehensive income - Total revenue decreased by approximately HK$13.8 million to HK$160.2 million, a year-on-year decrease of 8.0%, primarily due to reduced sales of machinery and parts[58] Changes in Revenue Composition | Revenue Source | 2025 (HK$ million) | 2024 (HK$ million) | Percentage Change (2025 vs 2024) | | :--- | :--- | :--- | :--- | | Equipment rental | 120.2 | 114.5 | 75.0% vs 65.8% | | Operational services | 22.3 | 22.1 | 13.9% vs 12.7% | | Other services | 9.9 | 12.6 | 6.2% vs 7.2% | | Sales of machinery and parts | 7.9 | 24.9 | 4.9% vs 14.3% | - Cost of sales and services was approximately HK$113.8 million, a year-on-year decrease of 6.8%, primarily influenced by reduced depreciation costs, lower long service payment provisions, and decreased machinery and parts costs[63][64] - Gross profit decreased by 10.7% to HK$46.5 million, with gross profit margin falling to 29.0%, mainly due to increased inventory write-downs of HK$3.6 million resulting from slow-moving inventory and reduced demand for obsolete leased equipment parts[65] - Other income increased to HK$3.4 million, primarily due to higher interest income from bank deposits resulting from increased cash balances[66] - Other gains and losses significantly increased by 367.7% to HK$10.3 million, mainly driven by net exchange gains of HK$0.7 million from a weaker Japanese Yen and increased gains of HK$9.6 million from the disposal of property, plant and equipment[67] - Net provision for expected credit losses was HK$2.8 million (FY2024: reversal of HK$1.7 million), while net reversal of impairment loss on property, plant and equipment was HK$0.3 million[68] - Administrative expenses slightly increased by 2.2% to HK$40.7 million, primarily due to higher travel and entertainment expenses[69] - Selling and distribution expenses decreased to HK$0.6 million, as the group's efforts in promoting 'green energy' concepts gained market recognition, leading to reduced promotional expenses[70] - Finance costs increased to HK$1.9 million, mainly due to higher interest on borrowings for financing investments in leased equipment and trucks[71] - Profit attributable to owners of the company increased to HK$12.2 million, with a profit margin of 7.6%; total comprehensive income increased to HK$12.3 million[72] Capital Expenditure Total capital expenditure for FY2025 was HK$31.8 million, primarily allocated to the expansion of leased machinery, vehicles, and other fixed assets, with 98.4% specifically for self-owned leased machinery units and trucks - Total capital expenditure for FY2025 was approximately HK$31.8 million (FY2024: HK$30.4 million)[73] - The majority of capital expenditure (approximately 98.4%) was used to fund the expansion of the group's self-owned leased machinery units and trucks[73] Liquidity and Financial Resources Review As of March 31, 2025, the group's cash and cash equivalents increased to HK$108.3 million, with total borrowings and lease liabilities at HK$49.8 million, and a zero capital gearing ratio, supported by HK$83.3 million in bank facilities, of which HK$72.8 million was utilized - As of March 31, 2025, cash and cash equivalents were approximately HK$108.3 million (2024: HK$93.7 million)[74] - Borrowings and lease liabilities amounted to approximately HK$49.8 million (2024: HK$42.7 million)[74] - Total bank facilities were approximately HK$83.3 million, of which HK$72.8 million was utilized and HK$10.5 million remained unutilized[74] - As of March 31, 2025, the capital gearing ratio was zero[75] Foreign Exchange Risk The group faces foreign exchange risk from transactions denominated in currencies other than Hong Kong dollars and, while currently lacking a hedging policy, actively monitors currency fluctuation risks to take proactive measures - The group is exposed to foreign exchange risk as certain transactions are denominated in various currencies, including Hong Kong dollars, Japanese Yen, Euros, Singapore dollars, Renminbi, and US dollars[76] - The group does not have a foreign currency hedging policy but closely monitors currency fluctuation risks and takes proactive measures[76] Contingent Liabilities As of March 31, 2025, the group had no significant contingent liabilities - As of March 31, 2025, the group had no significant contingent liabilities[77] Significant Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures In FY2025, the group did not undertake any significant acquisitions or disposals of subsidiaries, associates, or joint ventures - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures in FY2025[78] Significant Investments As of March 31, 2025, the group had no significant investments, though in May 2025, it purchased a US$2.5 million keyman insurance policy, pledged to HSBC for HK$35.0 million in financial facilities - As of March 31, 2025, the group had no significant investments[79] - In May 2025, the group purchased a keyman insurance policy with a sum assured of US$2.5 million for Executive Director Mr. Lau Tsz Fung, which was pledged to HSBC to secure HK$35.0 million in financial facilities[79] Capital Commitments and Future Plans for Material Investments or Capital Assets As of March 31, 2025, the group's capital commitments amounted to approximately HK$13.8 million, primarily for acquiring leased equipment, to be funded through internal resources and bank financing - As of March 31, 2025, the group's capital commitments were approximately HK$13.8 million (2024: HK$19.8 million), primarily for the acquisition of leased equipment[81] - The group will fund the purchase of leased equipment through internal resources and bank financing[82] Pledge of Assets As of March 31, 2025, approximately HK$3.1 million in life insurance policy deposits, HK$6.0 million in leased equipment and trucks, and HK$0.4 million in bank deposits were pledged as security for borrowings totaling approximately HK$41.9 million - As of March 31, 2025, approximately HK$3.1 million in life insurance policy deposits, HK$6.0 million in leased equipment and trucks, and HK$0.4 million in bank deposits were pledged as security for borrowings totaling approximately HK$41.9 million[83] Segment Information The group's segment information is disclosed in Notes 3(a) and 3(b) to the financial statements - The group's segment information is disclosed in Notes 3(a) and 3(b) to the financial statements[84] Human Resources and Employee Remuneration As of March 31, 2025, the group employed 129 individuals, with total staff costs increasing to HK$62.8 million due to annual salary increments, and provides comprehensive benefits including medical insurance, provident fund contributions, and training for technical staff - As of March 31, 2025, the group had 129 employees (2024: 133), primarily located in Hong Kong, Macau, Singapore, and China[85] - Total staff costs for FY2025 were approximately HK$62.8 million (2024: HK$61.2 million), mainly due to annual increments in staff salaries and wages[85] - The group provides employees with basic remuneration, medical insurance, provident fund contributions, and other benefits, along with internal and external training for technical staff[85][86] Share Option Scheme The group adopted a share option scheme on March 17, 2016, to attract and retain talent, with no share options granted or agreed to be granted from its adoption date up to March 31, 2025 - The group adopted a share option scheme on March 17, 2016, aiming to attract and retain the most suitable personnel[87] - As of March 31, 2025, no share options had been granted or agreed to be granted under the scheme[87] Other Information This section covers corporate governance, compliance with securities trading standards, auditor's scope, and dividend-related announcements, including share transfer suspension dates Corporate Governance Practices The company is committed to high standards of corporate governance, having engaged consultants to review internal controls and risk management, and has complied with the Corporate Governance Code, except for the combined roles of Chairman and Chief Executive Officer held by Mr. Lau Bong - The company has engaged consultants to review its internal controls, enterprise risk management, and corporate governance practices, continuously improving based on their recommendations[89] - The company has complied with the Corporate Governance Code set out in Appendix C1 to the Listing Rules, with the exception of a deviation from code provision C.2.1, where the roles of Chairman and Chief Executive Officer are combined and held by Mr. Lau Bong[90][91] Compliance with the Model Code for Securities Transactions The company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all directors confirmed compliance with the code during FY2025 - The company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all directors confirmed compliance with the code during FY2025[92] Purchase, Sale or Redemption of the Company's Listed Securities Neither the company nor any of its subsidiaries purchased, sold, or redeemed any listed securities during FY2025 - Neither the company nor any of its subsidiaries purchased, sold, or redeemed any listed securities during FY2025[93] Scope of Work of Deloitte Touche Tohmatsu Deloitte Touche Tohmatsu, the group's auditor, confirmed the consistency of financial data in the preliminary announcement with the audited consolidated financial statements, but their work does not constitute an assurance engagement, thus no assurance is issued on this preliminary announcement - Deloitte Touche Tohmatsu, the group's auditor, has agreed the financial data in the preliminary announcement with the audited consolidated financial statements[94] - Their work does not constitute an assurance engagement, and consequently, no assurance is issued on this preliminary announcement[94] Review by Audit Committee The company's Audit Committee has reviewed the group's annual results for the year ended March 31, 2025 - The company's Audit Committee has reviewed the group's annual results for the year ended March 31, 2025[95] Dividends The Board recommends a final dividend of 0.70 HK cents per share for FY2025, payable around September 16, 2025, to shareholders on record as of September 5, 2025, bringing the total annual dividend to 0.86 HK cents per share - The Board recommends a final dividend of 0.70 HK cents per share for FY2025 (FY2024: 0.60 HK cents)[96] - The final dividend is expected to be paid on or about September 16, 2025, to shareholders whose names appear on the register of members on September 5, 2025[96] - Together with the interim dividend of 0.16 HK cents per share, the total annual dividend is 0.86 HK cents per share (FY2024: 0.60 HK cents)[96] Closure of Register of Members The register of members will be closed twice to determine eligibility for attending the Annual General Meeting and for the final dividend, from August 25-28, 2025, and September 3-5, 2025, respectively - To ascertain eligibility for attending and voting at the Annual General Meeting, the register of members will be closed from August 25, 2025, to August 28, 2025[97] - To ascertain entitlement to the proposed final dividend, the register of members will be closed from September 3, 2025, to September 5, 2025[98] Publication of Results Announcement and Annual Report This results announcement is available on the company's and HKEX websites, with the FY2025 annual report to be published and dispatched to shareholders in late July - This results announcement has been published on the company's website and the HKEX website[99] - The annual report for FY2025 will be published on the company's and HKEX websites in late July and dispatched to the company's shareholders[99] By Order of the Board This announcement was issued by Mr. Lau Bong, Chairman and Executive Director, on June 26, 2025, with the Board comprising executive, non-executive, and independent non-executive directors - This announcement was issued by Mr. Lau Bong, Chairman and Executive Director, on June 26, 2025[100][101] - The Board members include Executive Directors Mr. Lau Bong, Ms. Chan Kit Mui, and Mr. Lau Tsz Fung; Non-executive Director Mr. Nakazawa Tomoyuki; and Independent Non-executive Directors Ms. Lam Sau Fung, Mr. Siu Chak Yu, and Dr. Ho Chung Tai[101]