Financial Performance - The Group recorded a revenue of approximately HK$5,361.66 million for the year ended June 30, 2025, representing a decrease of approximately 8.31% compared to HK$5,847.76 million in 2024[20] - The loss from continuing and discontinued operations attributable to owners of the Company for the Year amounted to approximately HK$13.14 million, a decrease from HK$18.46 million in 2024[20] - The Group's gross profit margin increased from 0.56% in 2024 to 0.59% for the Year, despite a decrease in overall gross profit from approximately HK$32.52 million to HK$31.86 million[30] - Revenue from the trading of fresh produce and agricultural products was approximately HK$4,593.07 million, accounting for about 85.67% of the Group's total revenue, with a gross profit margin of 0.39%[39] - The gross profit from the fresh and agricultural product trading segment was approximately HK$17,800,000, with a gross profit margin of 0.39%, down from 0.46% the previous year[42] - The meat processing segment recorded a significant revenue increase of approximately HK$632,810,000 to HK$765,140,000, representing about 14.27% of total revenue[44] Cash and Bank Balances - The Group's bank and cash balances at the end of the Year were approximately HK$55.92 million, down from HK$81.76 million in 2024[21] - The Group's cash and cash equivalents as of June 30, 2025, were approximately HK$55.92 million, down from HK$81.76 million in 2024, while net current assets decreased to approximately HK$310.07 million from HK$323.75 million[86] Cost Control and Expenses - The Group implemented stringent cost control measures, resulting in a decrease of approximately HK$3.10 million in administrative and other operating expenses[20] - Administrative and other operating expenses decreased by approximately 11.51% to HK$23.82 million from HK$26.92 million in 2024[33] - The decrease in local government subsidy for the Year was approximately HK$1.92 million compared to the previous year[20] - Other income decreased to approximately HK$1.18 million from HK$4.06 million in 2024, primarily due to the absence of government grants this year[31] Impairment and Credit Losses - An increase in impairment losses under the expected credit loss model of approximately HK$5.87 million was noted compared to last year[20] - Impairment losses under the expected credit loss model for trade and other receivables amounted to approximately HK$9.98 million, an increase from HK$6.50 million in 2024[34] - The Group's expected credit loss (ECL) impairment totaled approximately HK$33.82 million, an increase from HK$22.60 million in 2024, resulting in an ECL impairment loss of approximately HK$10.45 million for the year[73] Business Diversification and Growth - The meat processing business, which started operations in April 2024, is expected to be the major driver of growth for the Group in the future[21] - The Group plans to diversify its business to create greater value for shareholders[22] - The Directors are optimistic about the growth prospects in trading fresh produce and agricultural products, viewing these as key drivers for the Group's growth and profitability[81] - The Group aims to diversify its business by enriching its product portfolio, including importing high-quality fresh produce from Southeast Asia and South America[81] Risk Management and Governance - The Group's management is confident that the gross profit margin of the meat processing segment will improve with increased economic scale and customer recognition in the near future[45] - The Group has implemented credit control measures and conducts due diligence to assess customers' financial strength before loan approval[117] - The Board is responsible for maintaining effective risk management and internal control systems to safeguard assets and shareholders' interests[183] - A risk management policy has been established to ensure the Group operates in a safe environment and achieves its operational strategy[184] Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code throughout the year[130] - The Company has established three board committees: Audit Committee, Nomination Committee, and Remuneration Committee, each with defined written terms of reference[150] - The Company has provided training materials to all Directors to ensure compliance with the latest GEM Listing Rules and enhance corporate governance awareness[144] - The Company has a formal and transparent procedure for developing remuneration policies for Directors and senior management[167] Workforce and Employment - The Group maintained a workforce of 82 employees as of June 30, 2025, unchanged from the previous year[100] - The Group's workforce comprises 62% male and 38% female employees, indicating gender diversity within the organization[199]
都都控股(08250) - 2025 - 年度财报