Financial Performance - The company's revenue for the year ended March 31, 2025, was HKD 37,416,000, a decrease of 62.3% compared to HKD 99,391,000 in the previous year[3] - Gross profit for the same period was HKD 16,104,000, down 66.6% from HKD 48,186,000 year-on-year[3] - The operating loss increased to HKD 17,155,000 from HKD 12,017,000, reflecting a worsening operational performance[3] - The total comprehensive loss for the year was HKD 22,180,000, compared to HKD 17,674,000 in the previous year, indicating a 25.3% increase in losses[4] - The company reported a basic and diluted loss per share of HKD 4.22, compared to HKD 3.11 in the previous year, reflecting a 35.7% increase in loss per share[3] - The loss before tax for the year 2025 is reported at HKD 22,280,000, compared to a loss of HKD 15,923,000 in 2024, indicating a year-over-year increase of approximately 40.5%[25] - The group recorded a loss attributable to owners of approximately HKD 22.3 million, compared to HKD 16.2 million in the previous year, highlighting ongoing financial challenges[66] Revenue Breakdown - Revenue from catering services was HKD 4,916,000, down 76.3% from HKD 20,786,000 in the prior year[19] - Cake sales generated revenue of HKD 32,500,000, a decline of 58.7% from HKD 78,605,000 in the previous year[19] - The group recorded total revenue of HKD 37,416,000 for the year, a decrease of 62.4% compared to HKD 99,391,000 in the previous year[19] - The restaurant segment reported external revenue of HKD 37.4 million for the year ended March 31, 2025, down from HKD 99.4 million in 2024[51] Assets and Liabilities - The group has a net current liability of approximately HKD 111,230,000 and total liabilities of about HKD 130,728,000 as of March 31, 2025[17] - Current liabilities decreased to HKD 147,176,000 from HKD 186,028,000, a reduction of 21%[5] - The total equity attributable to the owners of the company was HKD (130,728,000), slightly improved from HKD (133,217,000) in the previous year[6] - Current assets as of March 31, 2025, were approximately HKD 35,900,000, with cash and cash equivalents at about HKD 24,400,000[73] - Current liabilities were approximately HKD 147,200,000, including accounts payable of about HKD 37,400,000[73] Cash Flow and Liquidity - The company's cash and cash equivalents increased to HKD 24,397,000 from HKD 21,233,000, showing a 10.2% improvement in liquidity[5] - Cash and bank balances increased from HKD 21,233,000 in 2024 to HKD 24,397,000 in 2025, reflecting a growth of about 14.3%[41] - The group anticipates sufficient financial resources to meet its financial obligations in the foreseeable future based on projected cash flows[17] Cost Management - The group implemented effective cost control measures, resulting in reduced operating expenses, which partially offset the negative impacts of decreased revenue and increased financing costs[58] - Operating expenses decreased by approximately 52.77% to about HKD 30,300,000, reflecting strategic adjustments in the retail portfolio[71] - The group is implementing strict cost control measures, including outsourcing some production processes and enhancing procurement efficiency to optimize operations[62] Shareholder Information - As of March 31, 2025, the company has issued a total of 555,057,588 ordinary shares[90] - Hanbo Holdings Limited owns 296,887,066 shares, accounting for 53.49% of the total issued shares[94] - The new share option plan allows for the issuance of up to 52,077,187 shares, which is 10% of the total issued share capital as of the adoption date[100] - The company has not declared or paid any dividends as of the reporting date[83] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with GEM listing rules[106] - The company confirmed that all directors complied with the trading standards set forth in the securities trading code during the reporting period[107] - The independent auditor's report indicated no reservations regarding the consolidated financial statements for the year ending March 31, 2025[110] - The company is committed to maintaining high standards of corporate governance and has adhered to the GEM listing rules during the reporting period[108] Market and Economic Outlook - The Hong Kong economy is projected to grow by 3.3% in 2024, with the restaurant industry facing pressures from local consumption fatigue and intensified market competition[60] - The Chinese economy is expected to grow by 5.2% in 2024, with strong performance in high-tech manufacturing, particularly in the clean energy sector[59] Strategic Initiatives - The group is strategically entering the renewable energy and advanced materials sectors, focusing on the photovoltaic industry and developing precision screen printing technology[62] - A memorandum of understanding was signed with Harbin Institute of Technology to jointly develop technology related to hydrogen energy, with the first product expected to undergo industrialization verification by mid-2025[63]
荣晖控股(08213) - 2025 - 年度业绩