Financial Performance - The company's revenue for the fiscal year ended June 30, 2023, was HKD 400,700,000, an increase from HKD 127,100,000 in the previous fiscal year, representing a growth of approximately 215.7%[11]. - The company reported a loss attributable to owners of HKD 10,000,000, a significant improvement from a loss of HKD 37,500,000 in the previous year[11]. - The revenue from network solutions and project services was HKD 13,400,000, an increase of about 47.4% compared to HKD 9,100,000 in the previous year[11]. - The logistics joint venture processed approximately 1,357,000 tons of cargo, up from 658,000 tons in the previous year, with revenue of HKD 352,100,000 compared to HKD 83,300,000 previously[16]. - Operating profit for the year was HKD 12,012 thousand, compared to an operating loss of HKD 28,123 thousand in the previous year, indicating a turnaround in performance[180]. - Profit before tax from continuing operations was HKD 5,134 thousand, recovering from a loss of HKD 30,315 thousand in 2022[180]. - The net profit for the year from continuing operations was HKD 389 thousand, a substantial improvement from a loss of HKD 32,150 thousand in the prior year[180]. - The company reported a net profit of HKD 389,000 for the year ending June 30, 2023, compared to a net loss of HKD 37,523,000 in the previous year, marking a significant turnaround[181]. - The company’s total comprehensive loss for the year was HKD (8,937,000), a substantial improvement from HKD (39,354,000) in the previous year[181]. Revenue Breakdown - The logistics business accounted for approximately 87.9% of total revenue, while private jet management services contributed 7.3%, and network solutions and project services contributed 3.3%[18]. - A logistics service framework agreement with Mongolian Energy was signed, with annual revenue caps of RMB 292,500,000, RMB 365,600,000, and RMB 457,000,000 for the years 2023 to 2026[28]. Financial Position - Total assets increased to HKD 633,609,000 in 2023, up from HKD 478,053,000 in 2022, reflecting a growth of approximately 32.5%[183]. - The company's current liabilities rose to HKD 200,634,000, compared to HKD 145,559,000 in the previous year, indicating a 37.8% increase[185]. - The company’s total liabilities increased to HKD 307,409,000 from HKD 148,725,000, representing a growth of 106.7%[185]. - The company’s equity attributable to owners decreased to HKD 251,499,000 from HKD 270,854,000, a decline of approximately 7.1%[183]. - As of June 30, 2023, total equity amounted to HKD 326,200,000, with a decrease in accumulated losses to HKD 255,566,000[192]. Operational Costs - The logistics services direct operating costs increased to HKD 297,117 thousand from HKD 72,606 thousand, reflecting a rise in operational expenses[180]. - Employee benefit expenses rose to HKD 40,891 thousand from HKD 37,248 thousand, indicating an increase in workforce costs[180]. - Financing costs increased to HKD 7,291 thousand from HKD 2,444 thousand, highlighting a rise in borrowing costs[180]. Governance and Compliance - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's guidelines, with some deviations noted[31]. - The board consists of five executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse composition[37]. - The board has maintained gender diversity with at least one female member, achieving a representation of 16.67% female directors[38]. - The company has established mechanisms to enhance board independence, including the requirement for independent directors to provide annual confirmations of their independence[42]. - The company has established a clear management structure to prevent unauthorized asset misuse and ensure compliance with relevant laws[51]. Risk Management - The company acknowledges potential risks and uncertainties that may impact its business operations[102]. - The company faces significant risks related to customer concentration, with the largest supplier and customer each accounting for 44% of procurement and sales, respectively[118]. - The board anticipates challenges in network and project investments due to geopolitical tensions and economic uncertainties[27]. Employee and Shareholder Relations - The company maintained effective communication channels with shareholders, with no negative feedback received during the fiscal year[78]. - The company provides appropriate training programs for employee development[151]. - The company has maintained harmonious relationships with employees and business partners, with no significant disputes reported during the fiscal year[108]. Share Option Scheme - The total number of shares that can be issued under the 2021 Share Option Scheme is 156,000,000 shares, representing 3.98% of the company's issued share capital[137]. - Each participant in the 2021 Share Option Scheme is limited to a maximum allocation of shares not exceeding 1% of the company's issued shares within any twelve-month period, unless otherwise approved by shareholders[138]. - The 2021 Share Option Scheme is valid for ten years starting from November 29, 2021[143]. - The total number of share options exercised during the fiscal year is 25,000,000, reducing the total available options from 332,000,000 to 307,000,000[144]. Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements present a true and fair view of the group's financial position as of June 30, 2023[159]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[198]. - The company adopted several amendments to accounting standards effective from July 1, 2022, impacting the financial reporting framework[200].
远见控股(00862) - 2023 - 年度财报