Financial Performance - For the fiscal year ending March 31, 2025, the company reported a revenue of HKD 481,484,000, a decrease of 17.9% compared to HKD 586,710,000 in 2024[3] - The gross profit for the year was HKD 221,168,000, down 14.7% from HKD 259,321,000 in the previous year[3] - The company recorded a net loss of HKD 124,767,000 for the year, compared to a loss of HKD 40,043,000 in 2024, indicating a significant increase in losses[4] - The total revenue for the year ending March 31, 2025, was HKD 481,484,000, with cosmetics contributing HKD 350,815,000 and women's fashion contributing HKD 130,669,000[17] - The adjusted loss before tax for the year ending March 31, 2025, was HKD 123,993,000, which includes a loss of HKD 57,909,000 from segment losses and a decline in the fair value of investment properties of HKD 40,918,000[24] - Basic loss per share for the year ended March 31, 2025, was HKD 124,767,000, compared to HKD 40,043,000 in 2024[33] - The group reported a total loss before tax of HKD 38,411,000 for the year ended March 31, 2024[25] - The group’s cost of goods sold for the year ended March 31, 2025, was HKD 260,720,000, down from HKD 324,981,000 in 2024[30] Assets and Liabilities - Total non-current assets decreased to HKD 629,042,000 from HKD 712,173,000, reflecting a decline of 11.7%[5] - Current liabilities were reported at HKD 303,875,000, down from HKD 543,183,000 in 2024, showing a reduction of 44.0%[5] - The total equity decreased to HKD 79,277,000 from HKD 203,321,000, a decline of 61.0%[6] - The group’s total liabilities for the year ended March 31, 2025, included trade payables of HKD 23,555,000, down from HKD 30,620,000 in 2024[35] - The total bank borrowings amount to HKD 178,095,000 as of March 31, 2025, compared to HKD 390,454,000 on March 31, 2024[47] - The total assets pledged for bank credit facilities amounted to HKD 473,006,000 as of March 31, 2025, down from HKD 570,010,000 in the previous year[49] Cash Flow and Financing - The company’s cash and cash equivalents increased to HKD 13,126,000 from HKD 8,537,000, representing a growth of 54.0%[5] - The group has utilized HKD 180,625,000 of its bank credit facilities, down from HKD 394,967,000 a year earlier[47] - The group has provided guarantees amounting to HKD 252,600,000 for bank credit facilities as of March 31, 2025, a decrease from HKD 838,857,000 in the previous year[50] - The company plans to repay HKD 20,000,000 of revolving loans and negotiate for an additional HKD 20,000,000 mortgage loan in April 2025[11] - The company is actively negotiating the renewal of existing bank facilities and exploring additional financing options[11] Business Segments - The company operates in two main segments: cosmetics and women's fashion, with performance evaluated based on adjusted pre-tax losses excluding certain expenses[21] - The cosmetics business generated revenue of HKD 350,815,000, a decline of 17.8% from HKD 426,537,000 in the previous year, with a segment loss of HKD 32,612,000[40] - The fashion business revenue was HKD 130,669,000, down 18.4% from HKD 160,173,000 in 2024, with a segment loss of HKD 25,297,000[41] Operational Changes - As of March 31, 2025, the group operated 53 cosmetics stores, down from 57 in 2024, and 52 fashion stores, down from 60[40][41] - The group plans to negotiate reasonable rents and strategically adjust its retail network, with 58 store leases expiring by March 31, 2026, representing 56% of all leases[42] - The group launched a new mobile app in May 2025 to enhance online and offline business integration and improve customer shopping experience[43] Employee and Corporate Governance - The group employed approximately 850 employees as of March 31, 2025, a slight decrease from about 870 employees a year prior[51] - The group did not recommend any final dividend for the year ended March 31, 2025, consistent with 2024[32] - The annual general meeting is scheduled for September 23, 2025, with a share transfer registration suspension from September 18 to September 23, 2025[52] Market and Economic Conditions - Approximately 29% of the procurement costs are in foreign currencies, slightly down from 30% in 2024, indicating ongoing foreign exchange risk management[48] - The company’s revenue from the Hong Kong and Macau markets accounted for the entirety of its reported sales, with no revenue generated from other regions in China for the year ending March 31, 2025[17]
威高国际(01173) - 2025 - 年度业绩