Financial Performance - For the fiscal year ending September 30, 2025, total revenue was HKD 37,513,000, a decrease of 6.4% from HKD 40,068,000 in the previous year[30]. - Revenue from compliance documents increased to HKD 9,166,000, representing 24.4% of total revenue, compared to 18.3% in the previous year[30]. - Revenue from IPO-related documents decreased to HKD 6,968,000, accounting for 18.6% of total revenue, down from 26.8%[30]. - The group's revenue for 2025 was approximately HKD 37.5 million, a decrease of about 3.6 million or 9.0% from HKD 40.1 million in 2024[34]. - Gross profit decreased by approximately HKD 4.8 million or 25.2% to HKD 14.4 million in 2025, with a gross margin of 38.4% compared to 48.0% in 2024[38]. - The net loss for 2025 was approximately HKD 12.0 million, compared to a net loss of HKD 7.3 million in 2024, primarily due to decreased revenue and gross profit[44]. - Cash and cash equivalents, along with time deposits, were approximately HKD 30.4 million as of September 30, 2025, down from HKD 60.2 million in 2024[54]. - The current ratio decreased to 2.3 times in 2025 from 3.5 times in 2024, with current assets of approximately HKD 62.1 million and current liabilities of approximately HKD 27.3 million[54]. - The total asset return rate for 2025 was approximately -15.8%, compared to -10.2% in 2024[47]. - The equity return rate for 2025 was approximately -31.5%, compared to -14.5% in 2024[48]. Client and Revenue Diversification - The top five clients contributed approximately 14.6% of total revenue in 2025, down from 22.3% in 2024, indicating reduced reliance on major clients[30]. - The company announced diversification into event management and insurance sectors to enhance financial performance and shareholder value[22]. - The entertainment and other revenue segment generated HKD 2,421,000 in 2025, marking its first contribution to total revenue[30]. - The company aims to improve service levels and deepen customer relationships in both existing and emerging business areas[23]. - The company is committed to providing tailored high-quality services to meet unique customer needs[21]. - The company emphasizes the importance of understanding customer goals to design more efficient and impactful personalized services[21]. Governance and Management - The company has a stable and experienced management team, focusing on employee training and development[88]. - The company has maintained stable and long-term business relationships with major suppliers, expecting no procurement difficulties[89]. - The company’s financial performance and key performance indicators are discussed in the annual report, highlighting the importance of financial metrics in assessing business health[84]. - The company complies with various Hong Kong laws and regulations, ensuring operational adherence to applicable legal requirements[86]. - The company’s independent non-executive director has over 15 years of experience in accounting and corporate services, enhancing governance[73]. - The company’s financial director has over 20 years of experience in the accounting industry, contributing to effective financial management[76]. - The company has established a board committee to delegate certain responsibilities, enhancing governance and oversight[168]. - The board consists of six members, with independent non-executive directors making up 50% of the board[168]. - The company provides formal and comprehensive onboarding training for all directors to ensure understanding of their responsibilities[171]. - The board meetings are scheduled at least quarterly, with notifications sent at least 14 days in advance[173]. Shareholder and Equity Information - Achiever Choice Limited sold 560,000,000 shares, representing 56.0% of the company's total issued share capital, to a new controlling shareholder on October 8, 2024[90]. - Major shareholders include Baoting Management Limited with 557,800,000 shares, representing 55.8% of the company's equity[116]. - The public shareholding reached 25% after the sale of 2,670,000 shares by the controlling shareholder, restoring compliance with GEM listing rules[154]. - The company did not redeem any of its listed securities during the year, nor did it purchase or sell any such securities[104]. - The group did not recommend the payment of a final dividend for 2025, consistent with 2024[49]. - The board decided not to declare a final dividend for the year[96]. - As of September 30, 2025, the company's distributable reserves were approximately HKD 26.3 million[102]. Risk Management and Sustainability - The company has implemented various policies to promote environmental sustainability, aiming to minimize its impact on the environment[85]. - The financial risk management objectives and policies are detailed in the annual report, indicating a structured approach to managing financial uncertainties[84]. - The company is committed to maintaining effective risk management and internal control systems[186]. Committees and Meetings - The Audit Committee held four meetings during the year, reviewing and approving the audited consolidated financial statements for the fiscal year 2024[185]. - The Audit Committee is responsible for monitoring the integrity of the financial statements and ensuring compliance with financial reporting standards[186]. - The Compensation Committee held one meeting during the year to determine the compensation for the company's directors and senior management, and to review the annual performance bonuses for directors, senior management, and general employees[191]. - The Nomination Committee was established on January 16, 2018, and its written terms of reference were revised on July 31, 2025, in accordance with corporate governance codes[192]. - The Nomination Committee evaluates the independence of independent non-executive directors and reviews their annual confirmation letters regarding independence[195]. - The company has adopted a nomination policy to recommend suitable candidates for election as directors at the shareholders' meeting[196]. Events and Transactions - The group acquired Prestige Global Wealth Management Limited in 2025, which did not constitute a disclosable transaction under the GEM Listing Rules[58]. - The company has started to undertake entertainment program production and event planning projects, as well as providing insurance brokerage services[83]. - A collaboration agreement with Macau Star was established for the FIBA 3x3 World Tour event in Macau, with related expenses capped at HKD 4 million[133]. - The FIBA cooperation agreement was approved by the board and confirmed as fair and reasonable by independent non-executive directors[134]. - There were no significant events affecting the group from September 30, 2025, until the report date[92]. - The company did not enter into any significant contracts with its controlling shareholders during the year[141]. - There were no major management or administrative contracts established for any significant part of the business during the year[148].
钜京控股(08450) - 2025 - 年度财报