GEM Market Characteristics - GEM is designed for small and mid-sized companies, which may carry higher investment risks compared to other companies listed on the Stock Exchange[1]. - Securities traded on GEM are more susceptible to high market volatility, with no assurance of a liquid market[2]. - The company emphasizes the importance of professional and sophisticated investors due to the inherent risks associated with GEM[1]. Compliance and Reporting - The report confirms that the information provided is accurate and complete in all material respects, with no misleading or deceptive elements[4]. - The company operates under the GEM Listing Rules, ensuring compliance and transparency in its reporting[6]. - The principal share registrar is Conyers Trust Company (Cayman) Limited, indicating a structured approach to shareholder management[15]. Financial Performance - The Group's revenue for the year ended March 31, 2023, was approximately HK$547.4 million, representing an increase of approximately 4.3% compared to HK$525.0 million in 2022[27]. - The gross profit for the year was approximately HK$94.5 million, a decrease of approximately 5.8% from HK$100.3 million in 2022, with a gross profit margin decline from approximately 19.1% to 17.3%[27]. - The loss per share for the year ended March 31, 2023, was HK$0.026, compared to a loss per share of HK$0.025 in 2022[28]. - The Group's net loss attributable to owners was approximately HK$28.8 million in 2023, a 10.8% increase from HK$25.9 million in 2022[55]. - Administrative expenses increased by 12.6% to HK$79.2 million in 2023, up from HK$70.4 million in 2022[55]. - The Group recorded loan interest income of approximately HK$0.1 million for the year ended March 31, 2023, a significant decrease from HK$3.8 million in 2022[45]. - The Group's gross profit decreased by approximately 5.8% to approximately HK$94.5 million for the year ended March 31, 2023, with a gross profit margin of approximately 17.3%[68]. Property Management Services - The company has established a significant presence in property services across various regions, including Beijing and Shandong[18]. - The property management services segment recorded revenue of approximately HK$545.9 million, up from HK$519.8 million in 2022[34]. - The Group aims to expand its management portfolio by capturing outsourcing activities from private residential owners, corporations, and government institutions[33]. - The Group has been recognized as one of the largest property management companies in Hong Kong since its establishment in 1984[33]. - Revenue from property management services contracts rose by approximately 4.0% to approximately HK$508.3 million for the year ended March 31, 2023[62]. - The Group was awarded 13 management contracts in Hong Kong, including major projects such as Wah Ming Estate (10,680 units) and Ching Fu Court (2,875 units)[26]. Cost Management - Cost control measures will be reviewed and implemented if necessary to enhance profitability in the property management segment[33]. - The total cost of services increased by approximately 6.6% to approximately HK$452.9 million for the year ended March 31, 2023, representing approximately 82.7% of the Group's revenue[67]. - Other operating expenses increased by approximately 27.2% to approximately HK$41.2 million for the year ended March 31, 2023, driven by higher travelling and entertainment expenses[78]. Current Assets and Liabilities - As of March 31, 2023, the Group's current assets were approximately HK$201.1 million, down from HK$236.1 million in 2022, representing a decrease of 14.8%[86]. - The Group's net current assets decreased to approximately HK$123.0 million as of March 31, 2023, compared to HK$144.3 million in 2022, a decline of 14.7%[86]. - The Group's current ratio remained stable at approximately 2.57 times for both 2022 and 2023[89]. - The gearing ratio increased slightly to 6.5% in 2023 from 6.4% in 2022, indicating a marginal rise in total debt relative to equity[90]. Management and Leadership - The company has a strong management team with diverse backgrounds in finance, real estate, and property management, enhancing its operational capabilities[181]. - The leadership structure includes experienced individuals who have held significant positions in other reputable companies, contributing to the company's strategic direction[182]. - The company emphasizes the importance of professional development and qualifications among its senior management to maintain competitive advantage in the market[190]. - The management team includes professionals with qualifications from recognized institutions, ensuring a high level of expertise in their respective fields[189]. Strategic Initiatives - The Group aims to leverage cloud computing and artificial intelligence to enhance its service offerings and achieve digital transformation in the big consumption sector[39]. - The Group is actively seeking additional investment opportunities to enhance revenue sources in the property management sector[112]. - The company intends to utilize the raised funds primarily for business expansion and working capital needs[157]. Market Challenges - The Group faces intense competition in the property management industry in Hong Kong, which may pressure service fees and affect profitability[158]. - The Group's revenue and profitability may be adversely affected if customers terminate service contracts prior to expiry[158]. Shareholder Information - Mr. Huang Liming, the chairman, holds approximately 55.45% of the total number of shares in issue[161]. - Mr. Ho Ying Choi is responsible for business operations, finance management, and sales and marketing[162].
时时服务(08181) - 2023 - 年度财报