Financial Performance - Total revenue for the year ended June 30, 2025, was HKD 5,361,657, a decrease of 8.3% from HKD 5,847,757 in 2024[4] - Gross profit for the same period was HKD 31,861, down from HKD 32,518, reflecting a gross margin of approximately 0.6%[4] - The company reported a loss from continuing operations of HKD 13,140, compared to a loss of HKD 6,643 in the previous year, indicating a significant increase in losses[5] - The company reported a net loss of HKD 13,140 for the year, down from HKD 18,907 in 2024, showing a reduction in total losses despite ongoing challenges[5] - Basic and diluted loss per share from continuing operations was HKD 3.60, compared to HKD 1.66 in the previous year, indicating worsening performance[5] - The group reported a total loss before tax of HKD 11,070 for the year, compared to a loss of HKD 7,816 in the previous year[17] Revenue Breakdown - Revenue from fresh and agricultural products trade was HKD 4,593,028, down 19.6% from HKD 5,711,425 in the previous year[11] - The meat processing segment generated revenue of HKD 765,142, a significant increase from HKD 132,326 in 2024, representing a growth of 478.5%[11] - Revenue from the fresh and agricultural products trade was approximately HKD 4,593,070, accounting for about 85.67% of total revenue, a decrease of approximately 19.58% from 2024[41] - The meat processing segment recorded a significant increase in revenue to approximately HKD 765,140,000, up about HKD 632,810,000 from HKD 132,330,000 in 2024, representing about 14.27% of total revenue[43] Assets and Liabilities - Total assets decreased to HKD 333,330 from HKD 349,858, while current liabilities also fell from HKD 26,109 to HKD 23,263[6] - The company’s cash and cash equivalents decreased to HKD 55,922 from HKD 81,762, indicating a liquidity challenge[6] - Non-current assets increased significantly to HKD 22,531 from HKD 12,878, primarily due to investments in property, plant, and equipment[6] - The company’s equity attributable to owners decreased to HKD 323,647 from HKD 330,022, reflecting a decline in overall financial health[7] - Trade receivables decreased to HKD 133,439,000 in 2025 from HKD 145,793,000 in 2024, reflecting a reduction of 8.5%[31] - The company reported trade payables of HKD 11,856,000 for the year ended June 30, 2025, an increase of 84.5% from HKD 6,427,000 in 2024[35] Employee and Operational Expenses - The total employee benefits expense for the year ended June 30, 2025, was HKD 16,604,000, an increase of 58.5% from HKD 10,497,000 in 2024[22] - The company incurred a total of HKD 41,960,000 in employee benefits expenses for the discontinued operations in 2024[25] Discontinued Operations - The company reported a loss from discontinued operations of HKD 12,264,000 for the year ended June 30, 2024, compared to a loss of HKD 6,199,000 from continuing operations in 2025[26][27] - The total revenue from contracts with customers for the discontinued coal mining and construction services was HKD 75,629,000, with a gross profit of HKD 2,154,000 for the year ended June 30, 2024[25] Corporate Governance - The company is committed to high standards of corporate governance to enhance shareholder value[85] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reports and internal controls[86] - The board currently comprises three executive directors and three independent non-executive directors[88] Future Outlook - The group remains optimistic about the growth potential in fresh produce and meat processing businesses, which are expected to drive revenue stability and long-term profit margins[60] - The group has no significant impact expected from the newly issued and revised Hong Kong Financial Reporting Standards in the foreseeable future[10] Shareholder Information - Major shareholders include Mr. Xu Gongming with a beneficial interest of 600,000 shares (0.16%) and Mangrove Capital Holdings Limited holding 102,719,000 shares (28.17%) [78] - Ms. Yan Weiwei holds 66,974,000 shares (18.37%) through Starlink Technology Limited [78] - No significant contracts exist between the company and its directors or major shareholders that could create a conflict of interest [79] Miscellaneous - The company changed its name from "Silk Road Energy Services Group Limited" to "Du Du Holdings Limited" to better reflect its current status and future direction[73] - The group has maintained a debt-free status with no bank borrowings as of June 30, 2025[61] - The group has not declared or proposed any dividends for the current year, consistent with the previous year[72]
都都控股(08250) - 2025 - 年度业绩