Financial Performance - The company recorded an operating loss of approximately HKD 36 million for the fiscal year 2023, compared to an operating profit of approximately HKD 64 million in fiscal year 2022[7]. - Total revenue from continuing operations for fiscal year 2023 was approximately HKD 2,463 million, down from approximately HKD 3,992 million in fiscal year 2022[34]. - Gross profit decreased from approximately HKD 115 million in fiscal year 2022 to approximately HKD 13 million in fiscal year 2023, a reduction of about HKD 102 million[34]. - Basic loss per share for continuing operations was approximately HKD 0.1973, compared to a basic earnings per share of approximately HKD 0.0493 in fiscal year 2022[17]. - The company reported a loss of approximately HKD 9.9 million for the fiscal year 2023, compared to a loss of about HKD 31 million in the previous fiscal year[43]. - The company reported a significant reduction in contract liabilities from HKD 41,486 thousand in 2022 to HKD 3,203 thousand in 2023, a decrease of approximately 92.3%[106]. - The total comprehensive loss for the year amounted to HKD 102,949, compared to a loss of HKD 8,758 in the previous year[144]. - Basic loss per share from continuing and discontinued operations was HKD 22.31, compared to a profit of HKD 3.84 in the previous year[144]. Operational Challenges - The company acknowledges the challenges posed by labor shortages and rising interest rates in the construction sector[19]. - The company plans to focus on operational cost control to maintain competitive advantage in the market due to rising construction costs and labor shortages[19]. - The construction market remains highly competitive, despite encouraging industry growth rates[18]. - The company has ceased its construction operations in Singapore following the voluntary liquidation of its subsidiary, Hong Kong Construction (Singapore) Pte Ltd[20]. Strategic Initiatives - The company will continue to explore diversification and development of its trading business in 2023[24]. - The company has initiated a transportation services business, which is expected to generate significant revenue and profit[25]. - The company plans to develop proprietary supply chain management software to optimize logistics, cash flow, and information flow within the industry[39]. - The company aims to establish a modern supply chain management platform for port mixed ore integration, ensuring stable raw material supply for steel enterprises[39]. - The company aims to become a core supply chain enterprise for large domestic steel companies, leveraging competitive bidding advantages across multiple logistics segments[39]. - The company is focused on becoming a professional integrator of iron ore products and services, enhancing its market position through technological advancements[39]. Revenue and Expenses - The company’s revenue from construction services decreased to HKD 158,310 thousand in 2023, down from HKD 255,523 thousand in 2022, a decline of approximately 38%[66]. - The cost of sales and services was HKD 2,450,160, resulting in a gross profit of HKD 12,782, down from HKD 114,957 the previous year[142]. - The company incurred financing costs of HKD 35,163 thousand, an increase from HKD 33,932 thousand in the prior year[113]. - The administrative expenses rose to HKD 46,841 from HKD 42,214, reflecting an increase of 11.8%[142]. Cash Flow and Assets - For the fiscal year ending March 31, 2023, the company reported a cash flow from operating activities before tax loss of HKD (71,419) thousand, compared to a profit of HKD 30,548 thousand in the previous year[113]. - The company’s cash flow from operating activities showed a net outflow of HKD (14,949) thousand, contrasting with a net inflow of HKD 24,130 thousand in the previous year[113]. - The company’s total liabilities increased, with a notable rise in trade and other payables by HKD 10,719 thousand[115]. - The company’s cash and bank balances decreased from HKD 132,908 thousand in 2022 to HKD 66,278 thousand in 2023, a decline of about 50.2%[106]. - Current assets were approximately HKD 658.7 million in 2023, down from HKD 872.0 million in 2022, while current liabilities decreased to about HKD 464.3 million from HKD 705.0 million, resulting in a current ratio of 1.42 in 2023 compared to 1.24 in 2022[84]. Shareholder Information - The board does not recommend any dividend payment for the fiscal year 2023, consistent with the previous fiscal year[46]. - The company has adopted a dividend policy, allowing for the declaration of dividends subject to board recommendation and shareholder approval[152]. - As of March 31, 2023, the company and its related entities hold a total of 797,302,000 shares, with Mr. Zhu Kai being the ultimate beneficial owner of Double Energy Limited, which wholly owns Baichuang Holdings Limited[175]. Employee and Contract Information - The total employee count as of March 31, 2023, is 211, down from 450 the previous year, with total employee compensation for the fiscal year approximately HKD 87.0 million, compared to HKD 141.5 million in the prior fiscal year[151]. - The company has ongoing contracts including a major renovation project for the Hong Kong Central Government with a contract value of HKD 101,541,000[149]. - The company is involved in various construction projects, with significant contracts such as the Hong Kong Polytechnic University renovation valued at HKD 30,072,000[146].
绿色经济(01315) - 2023 - 年度财报