Financial Performance - The total revenue for the group was approximately HKD 140,350,000, an increase of 26.2% compared to HKD 111,160,000 in the previous year[7]. - The group recorded a profit of approximately HKD 39,027,000, a significant turnaround from a loss of HKD 270,792,000 in the previous year[7]. - The group recorded total revenue of approximately HKD 140,350,000 for the year ended June 30, 2025, representing a 26.2% increase from HKD 111,160,000 in 2024[29]. - The group achieved a profit of approximately HKD 39,027,000 for the year ended June 30, 2025, compared to a loss of HKD 270,792,000 in 2024[29]. - Other income and losses amounted to approximately HKD 100,765,000 for the year ending June 30, 2025, an increase from HKD 54,951,000 in 2024, driven by one-time transaction gains[45]. - 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%[44]. - The termination of the air cargo charter business resulted in annual revenue of approximately HKD 59,110,000 and a loss of HKD 5,973,000[43]. Property Management and Operations - The group has expanded its property management business through full ownership of subsidiaries providing property services, enhancing revenue potential[12]. - The group is focusing on property operations to become a light asset and service-oriented operator, exploring related market opportunities[8]. - The group aims to enhance customer traffic and tenant quality through effective management of its shopping centers and industrial parks[12]. - The group plans to adjust rental levels to improve occupancy rates and enhance property operation revenue[41]. - The group is awaiting a court decision regarding objections raised by the owners of Jiachao Shopping Center and Shopping Center C, which may impact future operations[32]. - The group has entered into a sublease agreement for the remaining area of Jiachao Shopping Center, ensuring fixed rental income without operational and maintenance costs[31]. - The group has expanded its property management business through Zhengzhou Yingrui Property Services, promoting and subleasing to approximately 83 tenants in Zhiyun City[36]. - The group plans to continue investing in property operations, including hiring experienced personnel and potentially acquiring light-asset property operations in China to expand its management portfolio[62]. Leasing and Occupancy - As of June 30, 2025, approximately 89.6% of the leasable area in Shopping Center C, totaling around 80,118 square meters, was leased out to about 95 tenants[9]. - The rental area of the Jiachao Shopping Center decreased from 74,655.84 square meters to 27,749.09 square meters due to ongoing litigation, impacting revenue generation[10]. - In the Zhiyun City industrial park, approximately 69.7% of the leasable area of 130,873 square meters was leased out to 83 tenants for production and sales purposes[13]. - The group has leased 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[36]. - Zhengzhou Yinghao has leased 9 units with a total area of approximately 40,142 square meters, achieving about 53.0% occupancy as of June 30, 2025[37]. - Zhengzhou Yinghan has leased 7 units with a total area of approximately 41,385 square meters, achieving about 48.2% occupancy as of June 30, 2025[37]. Financial Management and Strategy - The company aims to enhance profit margins through strict cost control policies and financial planning, expecting to achieve more robust performance in the future[16]. - The company continues to implement prudent cost management policies to enhance operational efficiency and maintain a reasonable financial condition[23]. - The company expects stable future business development while seeking suitable property operation projects to broaden revenue sources and improve profitability[24]. - The company has been generating stable and continuous cash flow from its managed rental properties, benefiting both the company and its shareholders[22]. - The company is adjusting its future operational plans to provide leasing for more popular brands and expand tenant types to meet diverse customer needs[22]. Corporate Governance - The company has committed to best corporate governance practices, adhering to the principles outlined in the corporate governance code[144]. - The independent non-executive directors have confirmed their independence from the company, ensuring compliance with governance standards[149]. - The company has established a risk management and internal control system to safeguard shareholder investments and assets[158]. - The company has a policy to review the effectiveness of its risk management and internal control systems annually[158]. - The board consists of 4 executive directors and 3 independent non-executive directors, with a gender distribution of 5 males and 2 females[166]. Shareholder Information - No final dividend is recommended for the year ending June 30, 2025, consistent with the previous year[57]. - The company has established a dividend policy aimed at maximizing shareholder value, with decisions on dividends being at the board's discretion[199]. - Factors considered in the dividend decision include operating performance, cash flow, business conditions, and shareholder interests[200]. - As of June 30, 2025, the company has issued a total of 2,688,000,000 shares, with the largest shareholder, Mr. Chen Jin Yan, holding 597,280,000 shares, representing 22.21% of the issued share capital[97]. Risk Management - The company has identified several key risks that may impact its strategic objectives due to changes in business and external environments[160]. - The audit committee is satisfied with the adequacy of resources, qualifications, and training budgets for the accounting and financial reporting department[162]. - The company has a whistleblowing policy encouraging employees to report concerns regarding financial reporting and misconduct confidentially[161]. - The company has implemented strict guidelines for employees regarding securities trading to prevent violations of insider trading rules[145]. Employee and Management Changes - The company appointed Mr. Su Peixin as Executive Director and Chairman in August 2024, bringing over 15 years of experience in property development[78]. - Dr. Huang Haoxian was appointed as Executive Director and CEO in November 2024, with over 14 years of experience in investment and capital markets[78]. - Mr. Yao Linying joined as Executive Director in June 2024, focusing on external investment project selection and management, with over 11 years of experience in the investment field[79]. - The group employs a total of 104 employees in China and Hong Kong, providing competitive compensation and benefits[73].
锦艺集团控股(00565) - 2025 - 年度财报