Financial Performance - For the fiscal year ending March 31, 2025, the group's revenue increased by approximately HKD 144.6 million or 41.0% to about HKD 497.5 million, compared to approximately HKD 352.9 million for the previous year[13] - The loss attributable to owners for the fiscal year was HKD 12.3 million, a decline from a profit of approximately HKD 10.1 million in the previous year[13] - The loss was primarily due to a HKD 16.2 million impairment loss recognized from an equity investment in a joint venture, reflecting a decline in fair value of a property under development[13] - Excluding the non-recurring impairment loss, the group would have recorded a profit of approximately HKD 3.9 million for the year[13] - The company's revenue increased from approximately HKD 352.9 million for the year ended March 31, 2024, to approximately HKD 497.5 million for the year ended March 31, 2025, representing a growth of about 41.0%[19] - Gross profit decreased by approximately HKD 8.9 million or 22.0%, from approximately HKD 40.5 million in 2024 to approximately HKD 31.6 million in 2025, with the overall gross profit margin dropping from 11.5% to 6.3%[22] - Selling costs increased from approximately HKD 312.4 million in 2024 to approximately HKD 465.9 million in 2025, an increase of about 49.1%[21] - The company recorded a loss attributable to owners of approximately HKD 12.3 million for the year ended March 31, 2025, compared to a profit of approximately HKD 10.1 million for the year ended March 31, 2024[30] Business Outlook and Strategy - The company remains cautiously optimistic about the overall business outlook, anticipating gradual recovery in the Hong Kong economy and property market[14] - The company plans to continue providing comprehensive services in various construction sectors, including new basic engineering and renovation projects[14] - The company is strategically investing in property development and other growth potential sectors within the construction industry[14] - A commercial redevelopment project in Tsim Sha Tsui is currently being pursued through a joint venture to enhance the company's asset portfolio[14] Project Management and Operations - The number of projects undertaken decreased from 63 in 2024 to 48 in 2025, with new project contracts totaling approximately HKD 59.0 million, down from approximately HKD 679.4 million in 2024[17] - The backlog of projects as of March 31, 2025, was approximately HKD 386.9 million, a significant decrease from HKD 808.6 million as of March 31, 2024[17] - The company completed the acquisition of 50% of Acasa Property Limited, which is expected to enhance its capacity to undertake larger construction projects[18] Financial Position and Capital Management - As of March 31, 2025, the group's bank balance and cash amounted to approximately HKD 25.7 million, an increase from HKD 22.5 million in 2024[34] - The group's total borrowings were approximately HKD 95.8 million as of March 31, 2025, slightly down from HKD 96.1 million in 2024, while major shareholder loans increased to HKD 6.5 million from zero[34] - The capital debt ratio rose from approximately 63.1% on March 31, 2024, to about 71.7% on March 31, 2025, primarily due to the increase in major shareholder loans[34] Shareholder and Corporate Governance - The company did not recommend the payment of a final dividend for the year ended March 31, 2025[32] - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the relevant standards throughout the year[64] - The board consists of six members, including two executive directors and four independent non-executive directors, ensuring compliance with GEM listing rules[67] - The company has established a clear process for the appointment and re-election of directors, ensuring that one-third of the board rotates at each annual general meeting[83] Employee and Workforce Management - As of March 31, 2025, the group employed a total of 77 employees, an increase from 67 employees in the previous year[59] - Employee costs for the year ended March 31, 2025, amounted to approximately HKD 37.3 million, compared to HKD 29.3 million in the previous year, reflecting a significant increase[59] - Contributions to the retirement benefits plan totaled approximately HKD 1.2 million for the year ended March 31, 2025, up from HKD 0.9 million in the previous year[60] Risk Management and Compliance - The board believes that the risk management and internal control systems are effective and adequate as of March 31, 2025, ensuring the protection of shareholder investments and group assets[116] - The company emphasizes the importance of risk management practices to effectively mitigate operational and financial risks[198] - The group faces several major business risks, including low profit margins and sensitivity to adverse changes in the market conditions for renovation and maintenance projects in Hong Kong[199] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of sustainable development as a key driver for creating value for stakeholders[139] - The board has maintained the same environmental, social, and governance (ESG) management structure and processes as the previous year[143] - The company has complied with the ESG reporting guidelines and has not deviated from the "comply or explain" provisions[139] - The company aims to reduce emissions by 10% in the coming year[148] Community Engagement and Corporate Social Responsibility - The company actively engages in community investment through charitable donations and support for education and environmental protection activities[174] - The company has established multiple channels for communication with shareholders and investors, including annual general meetings and a dedicated website[130]
CHI HO DEV(08423) - 2025 - 年度业绩