Financial Performance - Revenue for the year ended June 30, 2025, was HKD 81,240,000, a decrease of 27% compared to HKD 111,160,000 in 2024[3] - Gross profit for the same period was HKD 51,844,000, down 27.7% from HKD 71,657,000 in 2024[3] - The company reported a profit from continuing operations of HKD 45,000,000, a significant recovery from a loss of HKD 270,792,000 in 2024[4] - Total comprehensive income for the year was HKD 40,354,000, compared to a loss of HKD 273,691,000 in the previous year[4] - Basic earnings per share from continuing and discontinued operations was HKD 1.56, a turnaround from a loss of HKD 10.07 in 2024[5] - Total revenue from continuing operations was HKD 81,240,000 in 2025, down from HKD 111,160,000 in 2024, reflecting a decline of approximately 26.9%[26] - The company reported a profit of HKD 45,000,000 from continuing operations for the year ending June 30, 2025, compared to a loss of HKD 270,792,000 in 2024[26] - The group reported total revenue of HKD 140,350,000 for the year ending June 30, 2025, with a single customer contributing 10% or more, compared to no such contributions in 2024[31] - Other income for the year 2025 was HKD 100,765,000, a significant increase from HKD 54,951,000 in 2024[32] - The group reported a total loss attributable to owners from discontinued operations of HKD 3,047,000 for 2025, with a basic and diluted loss per share of HKD 0.0011[40] - The group generated a profit of approximately HKD 39,027,000 for the year ending June 30, 2025, compared to a loss of HKD 270,792,000 in 2024, resulting in a profit margin of approximately 48.0%[78] Assets and Liabilities - Non-current assets decreased to HKD 533,141,000 from HKD 622,755,000 in 2024, reflecting a decline of 14.4%[6] - Current liabilities increased to HKD 175,483,000 from HKD 139,553,000, representing a rise of 25.7%[6] - The company has a net current liability of approximately HKD 103,396,000 as of June 30, 2025, indicating significant uncertainty regarding its ability to continue as a going concern[14] - Total assets for the property operations segment decreased to HKD 547,396,000 in 2025 from HKD 652,213,000 in 2024, a reduction of about 16.1%[29] - Total liabilities for the property operations segment decreased to HKD 545,299,000 in 2025 from HKD 701,161,000 in 2024, a decline of approximately 22.3%[29] - The group reported a net current liability of approximately HKD 103,396,000 as of June 30, 2025, compared to HKD 51,194,000 in 2024, indicating a significant increase in liabilities[94] - Total assets minus current liabilities were approximately HKD 429,745,000 as of June 30, 2025, down from HKD 571,561,000 in 2024, reflecting a decrease in asset value[94] - The group’s lease liabilities as of June 30, 2025, total HKD 447,380,000, a decrease from HKD 630,994,000 in the previous year, with current liabilities at HKD 72,637,000 and non-current liabilities at HKD 374,743,000[52] Equity and Shareholder Information - The company's total equity attributable to owners was HKD 35,279,000, recovering from a deficit of HKD 7,938,000 in 2024[7] - The total equity of the group was approximately HKD 32,529,000 as of June 30, 2025, compared to a total loss of HKD 7,938,000 in 2024[94] - The company does not recommend a final dividend for the year ending June 30, 2025, consistent with the previous year[89] Operational Changes and Business Focus - The company is focusing on property operations and has classified its air cargo charter business as discontinued operations[8] - The company has classified its air cargo charter segment as discontinued operations due to ongoing uncertainties in U.S. tariff policies affecting global economic conditions[25] - The group has entered into a lease agreement for the Longhu Shopping Center in Zhengzhou, China, with a total floor area of approximately 62,583 square meters, expected to enhance asset operational capacity and cash flow stability[16] - The group has expanded its property management business through Zhengzhou Yingrui Property Service Co., Ltd., leasing 42 units in Zhiyun City with a total floor area of approximately 130,873 square meters, achieving about 69.7% occupancy as of June 30, 2025[71] - The group plans to adjust rental levels in response to leasing data to improve occupancy rates and increase property operating income[75] - Future plans include expanding property operations and air cargo charter services, with a focus on leasing and management services for various properties[91] Financial Reporting and Standards - The company has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on financial performance[9] - The new Hong Kong Financial Reporting Standard No. 18 will impact the presentation and disclosure of the income statement in future financial reports, effective from January 1, 2027, or thereafter[11] - The group is evaluating the specific impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[11] - The financial statements are prepared based on historical cost, except for certain investment properties measured at fair value[18] Legal and Compliance - The company has adhered to the corporate governance code as per Appendix C1 of the listing rules for the year ending June 30, 2025, to enhance accountability and transparency[109] - All directors have confirmed compliance with the standards set forth in the standard code for securities trading as per Appendix C3 of the listing rules for the year ending June 30, 2025[110] - The company has established strict written guidelines for employees who may hold unpublished price-sensitive information, with no violations reported[111] Market Conditions and Future Outlook - The group anticipates a GDP growth of approximately 5.3% in the first half of 2025, with a projected GDP of RMB 660,536 billion[93] - The company anticipates financial benefits from improved macroeconomic conditions in China, particularly in consumer spending recovery[91] - The group will continue to implement strict cost control policies to manage operational costs and capital expenditures effectively[93]
锦艺集团控股(00565) - 2025 - 年度业绩