Financial Performance - The Group's annual results for the year ended March 31, 2025, were announced on June 27, 2025, with no modified opinion from auditors regarding the Group's ability to continue as a going concern[16]. - The Group's total turnover for the year ended 31 March 2025 was approximately HK$46,287,000, a decrease of about 39% compared to HK$76,066,000 in the previous year[68][72]. - Loss attributable to owners of the Company for the year was approximately HK$8,454,000, which is 7.71% lower than the loss of HK$9,160,000 in the previous year[68][72]. - Cash and bank deposits as of 31 March 2025 amounted to approximately HK$7,061,000, a decrease of about 13% from HK$8,160,000 as of 31 March 2024[69]. - The Group's net current liabilities as of 31 March 2025 were approximately HK$63,951,000, compared to HK$62,293,000 in 2024[69]. - Revenue from intelligent advertising decreased to approximately HK$43,227,000, down 41% from HK$73,116,000 in 2024[55][58]. - Revenue from agricultural, forestry, and consumer products increased to approximately HK$2,065,000, representing a growth of 5.3% from HK$1,961,000 in 2024[57][59]. - Administrative and other operating expenses decreased to approximately HK$18,900,000, down 2.59% from HK$19,402,000 in the previous year[68][72]. Strategic Initiatives - The Company announced a major transaction on June 23, 2025, reflecting its commitment to strengthening the financial position through a phased exit from the property business[16]. - The Group aims to expand the application of its Big Data and AI technology platform across various business lines, particularly in digital media and digital health sectors[18]. - The Group is actively pursuing investment opportunities in the NEV (New Energy Vehicles) industry and high-tech consumer products to diversify its portfolio[60][65]. - The Group is exploring potential investment opportunities in the digital healthcare sector, leveraging its AI capabilities from the intelligent advertising business[61]. - The Group is focusing on expanding its AI technology platform and developing new business lines, particularly in NEV and high-tech consumer products[89]. Market Conditions - The broader economic environment remains uncertain, and the Group will closely monitor market trends for stable development across all segments[18]. - The property market remains fragile, with policymakers needing to implement supportive measures for recovery amid demographic changes and economic pressures[52]. - New home prices in China fell by 0.22% in May 2025, marking the largest decline in seven months, while existing home prices decreased by 0.5%[49]. - Goldman Sachs estimates that demand for new homes in urban areas will remain below 5 million units per year, significantly lower than the peak of 20 million units in 2017[51]. - The supply chain industry in 2025 faces challenges from geopolitical tensions and pricing pressures, with a focus on enhancing supply chain resilience and risk management[46]. - The agricultural sector struggles with environmental degradation and labor shortages, despite government initiatives like the new Food Security Law[42]. - The economic outlook for 2025 is mixed, with challenges from geopolitical tensions and opportunities from China's economic reforms[88]. Corporate Governance - The Board is responsible for reviewing and finalizing the Company's strategies, policies, and performance, ensuring timely decision-making with access to reliable information[114]. - The Board emphasizes high standards of corporate governance to enhance transparency and protect shareholders' interests[110]. - The Company has not appointed a Chief Executive Officer; day-to-day management is conducted by senior management and monitored by Executive Directors[125]. - The Company has engaged an external independent consultant to perform an internal audit function and review the internal control system, with no significant risk and control deficiencies identified[174]. - The Company has fully complied with the requirements of the GEM Listing Rules regarding financial reports and announcements[173]. - The Board is responsible for preparing financial statements in accordance with statutory requirements and applicable accounting standards[160]. - The Company has arranged appropriate insurance coverage for Directors against legal actions, reviewed annually[156]. Risk Management - The Group is actively managing risks related to interest rate fluctuations, geopolitical events, and climate change, while ensuring compliance with evolving regulatory requirements[99]. - Market risks for 2025 are influenced by geopolitical tensions, including the escalation of the Ukraine conflict, which threatens global supply chains and may increase commodity costs[99]. - The Group is committed to maintaining compliance with significant legal and regulatory requirements, ensuring adherence to environmental policies and laws[102]. Shareholder Engagement - The Board is committed to maintaining an ongoing dialogue with shareholders, with the chairman and Board Committee members attending the annual general meeting to answer questions[196]. - The Company believes in regular and timely communication with shareholders to enhance their understanding of its business operations[200]. - Shareholders holding at least 5% of the paid-up capital have the right to requisition an extraordinary general meeting[189]. Board Composition and Committees - The Board comprises three executive Directors and three independent non-executive Directors, ensuring diverse professional experience for valuable guidance[120]. - The Audit Committee consists of three independent non-executive Directors and meets regularly to review the effectiveness of internal control systems and financial reports[130]. - The Remuneration Committee held two meetings during the year ended March 31, 2025, to review the remuneration packages of Directors and senior management[139]. - The Nomination Committee conducted three meetings in the year ended March 31, 2025, to review the composition of the Board[147]. - The Company adopted a board diversity policy to enhance diversity at the Board level, considering factors such as gender, age, and professional experience[148]. Internal Controls - The Group's internal control system aims to provide guidance on financial, operational, and compliance activities[168]. - Effective financial control measures have been implemented to manage liabilities and safeguard assets, including proper checks and approvals for all payments[171]. - The internal control policy includes safeguarding assets and ensuring the accuracy of financial records and reports[170].
世大控股(08003) - 2025 - 年度财报