Financial Performance - For the year ended March 31, 2025, the Group reported revenue of HK$470,308,000, a decrease of 45.6% compared to HK$864,305,000 in 2024[5] - The Group experienced a gross loss of HK$4,025,000 for 2025, compared to a gross profit of HK$12,033,000 in 2024[5] - The net loss for the year was HK$46,098,000, an increase of 47.8% from a net loss of HK$31,181,000 in 2024[5] - Total equity attributable to owners of the Company decreased to HK$385,607,000 in 2025 from HK$435,631,000 in 2024, reflecting a decline of 11.5%[5] - The Group recorded a loss of approximately HK$46,098,000 for the Year, an increase of about 48% compared to the previous year's loss of approximately HK$31,181,000[50] - The Group's other net income decreased by approximately 69%, from approximately HK$3,169,000 to approximately HK$995,000[39] Liquidity and Financial Ratios - The current ratio as of March 31, 2025, was 3.46, down from 3.78 in 2024, indicating a decrease in liquidity[5][6] - The current ratio decreased to 3.46 as of March 31, 2025, compared to 3.78 as of March 31, 2024[56] - The Group's current assets decreased to approximately HK$458,409,000 as of March 31, 2025, down from approximately HK$495,865,000 in the previous year[55] Operational Performance - The performance of the Group's business in sourcing and sale of metal minerals was negatively impacted by significant price fluctuations and exchange rate volatility between RMB and USD[16] - The production and sale of industrial products saw a deterioration in performance due to rising upstream raw material prices, leading to increased production costs[17] - Revenue from the sourcing and sale of metal minerals and related industrial materials decreased by approximately 50%, from approximately HK$731,918,000 in the previous year to approximately HK$366,084,000[34] - The segment profit for the sourcing and sale of metal minerals dropped approximately 75%, from approximately HK$4,617,000 to approximately HK$1,160,000[34] - The production and sale of industrial products recorded a segment revenue of approximately HK$104,224,000, a decrease of approximately 21% compared to the previous year[35] - The segment loss for the production and sale of industrial products was approximately HK$5,731,000, a decrease of approximately 184% from a profit of approximately HK$6,836,000 in the previous year[35] Administrative and Other Expenses - The Group's administrative expenses increased by approximately 24%, from approximately HK$13,620,000 to approximately HK$16,941,000[40] - Finance costs decreased by approximately 10% to about HK$575,000 for the Year, compared to approximately HK$639,000 in the previous year[48] - The Group recorded a loss allowance on trade receivables of approximately HK$5,186,000, a significant decrease from approximately HK$32,615,000 in the previous year[42] Corporate Governance and Management - Mr. Ho Yu-shun has been appointed as the Chairman and CEO effective from October 1, 2022, bringing over 10 years of experience in corporate banking and global trading[72] - The Board comprises six Directors, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a balance of skills and experience[198] - The Company has adopted the Model Code for Securities Transactions by Directors, with all Directors confirming compliance for the year ended March 31, 2025[196] - The audit for the financial year ended March 31, 2025, was conducted by Crowe (HK) CPA Limited, which is eligible for re-appointment[182] - The Company is committed to high standards of corporate governance, which is essential for protecting shareholders' interests and enhancing stakeholder value[186] Shareholder Information - The Board does not recommend the payment of any dividend for the year ended March 31, 2025, consistent with the previous year[102] - As of March 31, 2025, Ms. Sun Le holds 5,040,000,000 shares, representing approximately 23.90% of the Company's issued share capital[130] - Zhou Qiuhong holds 3,215,322,140 shares, accounting for approximately 15.25% of the Company's issued share capital[141] - The total number of issued shares of the Company as of March 31, 2025, is 21,084,072,140[130] Future Outlook - The Group remains optimistic about future business opportunities despite facing challenges in 2025, particularly in the context of rising demand for manganese in the automotive industry due to electric vehicle sales[25][28] Employee Information - The Group had a total of about 133 employees and directors as of March 31, 2025, with staff costs amounting to approximately HK$23,368,000[171] - As of March 31, 2025, the Group had approximately 133 employees, with total employee costs amounting to approximately HKD 23,368,000, an increase from HKD 20,962,000 in 2024[176]
新源万恒控股(02326) - 2025 - 年度财报