倩碧控股(08367) - 2025 - 年度业绩

Financial Summary Overview of key financial performance indicators for the year ended March 31, 2025, showing a shift from profit to loss Key Financial Indicators for the Year Ended March 31, 2025 | Metric | Year Ended March 31, 2025 (HKD million) | Year Ended March 31, 2024 (HKD million) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 97.76 | 91.85 | ▲ 6.43% | | (Loss)/Profit | (20.85) | 8.25 | Shift from Profit to Loss | | Basic (Loss)/Earnings Per Share | (34.48) HK cents | 17.18 HK cents | Shift from Profit to Loss | | Proposed Final Dividend | Nil | Nil | No Change | Consolidated Financial Statements Detailed presentation of the company's financial position and performance, highlighting the shift to net loss and deteriorating liquidity Consolidated Statement of Profit or Loss and Other Comprehensive Income The company shifted from profit to a HKD 20.85 million loss in FY2025, primarily due to goodwill impairment, increased raw material costs, and higher expenses, despite a 6.43% revenue growth Consolidated Statement of Profit or Loss Summary (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 97,763 | 91,852 | | Raw Materials and Consumables Used | (47,537) | (33,160) | | Staff Costs | (21,027) | (32,296) | | Goodwill Impairment Loss | (9,000) | – | | (Loss)/Profit Before Tax | (20,912) | 7,873 | | (Loss)/Profit for the Year | (20,853) | 8,247 | (Loss)/Earnings Per Share (HK cents) | Item | 2025 | 2024 (Restated) | | :--- | :--- | :--- | | Basic | (34.48) | 17.18 | | Diluted | (34.48) | 16.72 | Consolidated Statement of Financial Position As of March 31, 2025, net assets significantly decreased to HKD 17.51 million, with a net current liability of HKD 12.47 million, primarily due to a substantial increase in trade and other payables Balance Sheet Summary (HK$'000) | Item | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Total Non-current Assets | 40,155 | 44,783 | | Total Current Assets | 33,940 | 24,930 | | Total Current Liabilities | 46,408 | 24,140 | | Net Current (Liabilities)/Assets | (12,468) | 790 | | Total Non-current Liabilities | 10,182 | 11,129 | | Net Assets | 17,505 | 34,444 | - Goodwill decreased from HKD 20.72 million to HKD 11.72 million, reflecting an impairment loss of HKD 9.00 million[7] - Trade and other payables and accrued expenses surged from HKD 15.62 million to HKD 38.48 million, primarily causing the net current liabilities[7] Notes to the Consolidated Financial Statements Detailed explanations of the group's operations, accounting policies, and significant events impacting the financial statements Company Information and Basis of Preparation The group's core businesses include restaurant operations, food ingredient sales, and aircraft engine stand maintenance, with significant going concern uncertainties addressed by new loan financing - The company's principal activities include restaurant operations, sale of food and beverages, and aircraft engine stand repair and maintenance services[9] - The financial statements reveal significant doubts about the group's ability to continue as a going concern, due to an annual net loss of approximately HKD 20.85 million, net current liabilities of approximately HKD 12.47 million, and cash of only HKD 6.73 million[17] - To address liquidity issues, the company secured an 18-month loan facility totaling HKD 20.00 million on June 16, 2025[17] Revenue and Segment Information Total revenue increased to HKD 97.76 million, primarily driven by a 58.4% growth in aircraft engine stand repair and maintenance services, which now constitutes 79.3% of total revenue, while restaurant operations declined significantly Revenue by Business Type (HK$'000) | Business Type | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Restaurant Operations | 19,909 | 48,728 | ▼ 59.1% | | Food and Beverages | 323 | 962 | ▼ 66.4% | | Aircraft Engine Stand Repair and Maintenance | 66,781 | 42,162 | ▲ 58.4% | | Aircraft Engine Logistics Services | 6,407 | – | New | | Warehousing Services | 4,343 | – | New | | Total | 97,763 | 91,852 | ▲ 6.4% | Revenue and (Loss)/Profit by Operating Segment (HK$'000) | Operating Segment | 2025 Revenue | 2025 Segment (Loss)/Profit | 2024 Revenue | 2024 Segment Profit/(Loss) | | :--- | :--- | :--- | :--- | :--- | | Chinese Cuisine | 8,959 | (1,677) | 18,797 | (5,278) | | Thai Cuisine | 9,699 | (1,981) | 6,916 | (257) | | Malaysian Cuisine | 1,251 | (4,537) | 23,015 | 842 | | Food and Beverage Business | 323 | (860) | 962 | (254) | | Aircraft Engine Stand Repair and Others | 77,531 | 3,165 | 42,162 | 4,896 | Dividends The Board of Directors did not recommend any dividend payment for the year ended March 31, 2025, consistent with the prior year - For the year ended March 31, 2025, no dividends were paid, declared, or proposed by the company[31] Capital Reorganisation The company's proposed capital reorganisation, including share consolidation, capital reduction, and share subdivision, was completed in May 2025 - The company implemented a capital reorganisation, involving share consolidation (20-for-1), capital reduction, and subdivision of unissued shares, completed in May 2025[39] Management Discussion and Analysis Management's insights into the group's operational performance, financial results, and strategic outlook, highlighting key drivers and challenges Business Overview and Future Outlook The group's business shows divergence, with strong growth in aircraft engine stand maintenance services becoming the primary revenue driver, while restaurant operations significantly contracted, leading to a focus on cost control and strategic adjustments - Revenue from the aircraft engine stand repair and maintenance services segment was approximately HKD 77.53 million, accounting for 79.31% of total revenue[42] - In the restaurant business, "Ma Sour Le / Ma Sun Le" revenue decreased by 52.34%, "Baba Nyonya" revenue decreased by 94.56% due to termination of operations, while "Thai Alley" revenue increased by 40.17%[40][41] - Future outlook includes measures to improve performance such as controlling staff costs, negotiating favorable terms with landlords and suppliers, expanding takeaway product lines, and collaborating with food delivery companies[43] Financial Performance Analysis The company shifted from profit to a HKD 20.85 million loss, primarily due to a 43.37% increase in raw material costs, a HKD 9.00 million goodwill impairment, and a HKD 2.36 million loss from financial asset disposal, despite a 6.43% revenue growth and a 34.89% reduction in staff costs - Total revenue increased by 6.43% to HKD 97.76 million, primarily contributed by the engineering business[44] - Raw materials and consumables used increased by 43.37% year-on-year to HKD 47.54 million, mainly due to increased costs in the engineering business[45] - Staff costs decreased by 34.89% year-on-year to HKD 21.03 million, primarily due to reduced staff costs in the restaurant business[48] - A goodwill impairment loss of HKD 9.00 million was recognized (nil last year), as the recoverable amount was lower than the carrying amount[52] - The group shifted from a profit of HKD 8.25 million last year to a loss of HKD 20.85 million this year, mainly attributable to decreased revenue from restaurant operations, increased raw material costs, and goodwill impairment loss[57] Liquidity and Capital Resources The group maintains a prudent treasury policy, with no significant foreign exchange risks, capital commitments, contingent liabilities, or pledged assets as of the reporting period end - The group primarily operates in Hong Kong, with transactions denominated in HKD, and does not face significant foreign exchange risks[59] - As of March 31, 2025, the group had no outstanding capital commitments, significant contingent liabilities, or pledged assets[61][62][63] Corporate Governance and Other Disclosures Overview of corporate governance practices, including the auditor's emphasis on going concern uncertainty and compliance with listing rules Extracts from Independent Auditor's Report The independent auditor's report highlights a 'material uncertainty related to going concern' due to the group's net loss, net current liabilities, and low cash levels, presented as an emphasis of matter - The independent auditor's report includes a section on "Material Uncertainty Related to Going Concern," highlighting that the group's net loss, net current liabilities, and low cash levels may cast significant doubt on its ability to continue as a going concern[69] Audit Committee The Audit Committee, comprising three independent non-executive directors, reviewed the annual audited results and oversaw financial reporting, internal controls, and risk management - The Audit Committee, composed of three independent non-executive directors, assists the Board in reviewing the effectiveness of internal audit, financial reporting, internal control, and risk management systems[73] Other Disclosures The company complied with corporate governance codes, conducted no securities repurchases, and maintained the required public float during the year - For the year ended March 31, 2025, the company consistently complied with the code provisions set out in the Corporate Governance Code[67] - During the year, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[70] - At least 25% of the company's total issued shares were held by the public, complying with GEM Listing Rules requirements[72]