Financial Performance - Revenue for the year ended June 30, 2025, was HK$55,409,000, a decrease of 24.9% compared to HK$73,811,000 in 2024[17] - Gross profit for the same period was HK$9,501,000, down 35.6% from HK$14,764,000 in 2024[17] - The company reported a loss for the year of HK$28,211,000, which is an increase of 116.3% from a loss of HK$13,044,000 in 2024[17] - For the year ended June 30, 2025, the Group's revenue was approximately HK$55.4 million, a decrease of approximately 24.9% from HK$73.8 million in 2024[29] - The Group's gross profit for the same period was approximately HK$9.5 million, down 35.6% from HK$14.8 million in 2024[29] - The net loss for the year increased to approximately HK$28.2 million, representing a 116.3% increase compared to a net loss of approximately HK$13.0 million in 2024[29] - The increase in consolidated net loss is primarily attributed to the decline in revenue and gross profit[31] - Gross profit for the Year was approximately HK$9.5 million, with a gross profit margin of approximately 17.1%, down from approximately HK$14.8 million and a margin of 20.0% in 2024[48] Assets and Liabilities - Total assets increased by 5.6% to HK$67,193,000 from HK$63,613,000 in 2024[17] - Capital deficiency rose by 47.8% to HK$65,678,000 compared to HK$44,427,000 in 2024[17] - The current ratio declined to 0.47 from 0.74 in 2024[17] - The quick ratio also fell to 0.47 from 0.74 in 2024[17] - The gearing ratio improved to (1.29) from (1.88) in 2024[17] - As of June 30, 2025, cash and bank balances amounted to approximately HK$9.7 million, down from approximately HK$16.8 million in 2024[59] - The Group had borrowings of approximately HK$55.0 million and a shareholder's loan of HK$30.0 million as of June 30, 2025, with negative gearing ratios due to equity deficit[67] Business Strategy and Development - The management has focused resources on developing local business in the PRC and Hong Kong, as well as exploring opportunities in Australia[30] - New business relationships have been established with internationally recognized brands and property owners for sizeable projects[30] - The Group's strategic focus includes enhancing competitiveness in the market through local business development[32] - The Group is actively seeking potential acquisition targets that may synergize with its existing business for ongoing strategic growth[39] - The management is confident in building long-term business relationships and expects more projects to commence in the near future[37] - The Group has established numerous business relationships with internationally recognized brands and property owners in the PRC, Hong Kong, and Australia, indicating positive business prospects[36] Corporate Governance - The Board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee to oversee specific aspects of the Company's affairs[91] - The Company has adopted the Corporate Governance Code as its own code of corporate governance, ensuring high standards of corporate governance[89] - The Company will continue to review and enhance its corporate governance practices to ensure compliance with the Corporate Governance Code[100] - The Company has provisions for independent professional advice for both the Audit and Remuneration Committees[115][122] - The Company has adopted a Board Diversity Policy to ensure a diverse composition of the Board[132] Risk Management - The Company has established an enterprise risk register to monitor significant risk factors affecting its operations[182] - Management evaluates risks in the register and prioritizes them based on potential impact and occurrence opportunity[183] - The internal control system is designed to minimize risks and is reviewed annually to ensure its effectiveness[187] - The Company has implemented procedures for identifying, assessing, monitoring, and reporting significant risks[186] - The Risk Management Committee monitored the Company's exposure to sanctions legal risks during its meetings[144] Shareholder Rights - Shareholders holding at least one-tenth of the paid-up capital have the right to requisition an extraordinary general meeting[198] - If the Board fails to convene a requisitioned extraordinary general meeting within 21 days, the concerned Shareholders may convene it themselves[199] - There are no provisions for Shareholders to propose items at general meetings, but they can requisition extraordinary meetings for specified business[200]
易纬集团(03893) - 2025 - 年度财报