Financial Performance - For the fiscal year ending October 31, 2023, revenue increased by approximately 4% to HKD 101,924,000 compared to HKD 97,595,000 in 2022[6] - The profit attributable to equity holders increased by approximately 28% to HKD 5,593,000, up from HKD 4,379,000 in the previous year[6] - Basic and diluted earnings per share rose by approximately 28% to HKD 0.86, compared to HKD 0.67 in 2022[6] - The company reported a profit of HKD 5,593,000 for the fiscal year ending October 31, 2022, which is an increase from the previous year's profit of HKD 4,379,000[12] - Total revenue for the year ended October 31, 2023, was HKD 101,924,000, an increase from HKD 97,595,000 in the previous year, representing a growth of approximately 2.7%[22] - The segment profit for the year was HKD 33,518,000, up from HKD 28,958,000, indicating a year-over-year increase of about 15.5%[22] - Gross profit increased by 18% to HKD 36,932,000, with the gross profit margin rising from 32% to 36%[56] - The company’s profit attributable to owners increased by 28% to HKD 5,593,000 from HKD 4,379,000 last year[57] Assets and Liabilities - Total assets as of October 31, 2023, amounted to HKD 120,837,000, a decrease from HKD 122,012,000 in 2022, representing a decline of approximately 0.96%[9] - Current assets increased to HKD 93,543,000 from HKD 84,046,000, reflecting a growth of about 11.5% year-over-year[9] - Total liabilities decreased to HKD 49,702,000 from HKD 50,026,000, showing a reduction of approximately 0.65%[10] - Current liabilities were reported at HKD 12,236,000, down from HKD 18,447,000, which is a significant decrease of about 33.5%[9] - The company reported a net asset value of HKD 43,841,000, an increase from HKD 34,020,000, representing a growth of approximately 29%[9] - The company’s total non-current liabilities were reported at HKD 13,276,000, a decrease from HKD 14,334,000, representing a decline of about 7.4%[10] - Total liabilities for 2023 amount to HKD 17,572 million, compared to HKD 14,499 million in 2022[43] Revenue Breakdown - Revenue from sales of environmental products reached HKD 55,296,000, while revenue from water supply amounted to HKD 46,628,000, totaling HKD 101,924,000 for the year[20] - The environmental products business revenue decreased by 15% from HKD 65,250,000 to HKD 55,296,000, while the water supply business revenue increased by 44% from HKD 32,345,000 to HKD 46,628,000[49] - The environmental products and water supply businesses accounted for 54% and 46% of total revenue, respectively, compared to 67% and 33% in the previous year[49] - Revenue from external customers in Hong Kong was HKD 6,480,000, while revenue from mainland China was HKD 95,467,000, showing a strong reliance on the Chinese market[24] Other Comprehensive Income - The company experienced a significant other comprehensive loss of HKD 12,939,000 during the fiscal year ending October 31, 2023[12] - The company reported a decrease in other comprehensive income, with a loss of HKD 5,710,000 for the fiscal year ending October 31, 2023[12] Operational Highlights - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance for the current or prior periods[16] - The company’s major operating segments include environmental products and water supply, both of which are regulated and strategically managed based on adjusted segment performance[20] - The company has established offices and service centers in Ningbo, Shanghai, and Shunde, with plans to expand its service network to other regions in mainland China[52] - The company has implemented an automated online system for real-time monitoring and testing of water supply pipeline conditions[55] Taxation and Financial Obligations - The group has tax losses that can offset taxable profits for two years, resulting in no tax provision being made[31] - The group is subject to a 25% corporate income tax rate in China, unchanged from the previous year[31] - Current tax expenses in China for 2023 were HKD 4,275,000, up from HKD 2,127,000 in 2022, reflecting a rise in tax obligations[29] Governance and Compliance - The company did not recommend any dividend payment for the year ending October 31, 2023, consistent with the previous year[33] - The company has adhered to the GEM Listing Rules and corporate governance code, with the exception of one independent non-executive director's absence from the annual general meeting due to other public duties[70] - The Audit Committee held four meetings to review the financial reporting procedures and internal control systems during the fiscal year ending October 31, 2023[76] - The Audit Committee reviewed the group's performance for the fiscal year ending October 31, 2023, and confirmed that the financial statements were prepared in accordance with applicable accounting standards and regulations[77] Shareholder Information - The annual general meeting is scheduled for March 7, 2024, and share registration will be suspended from March 4 to March 7, 2024[81] - Shareholders must ensure all share registration documents are submitted by March 1, 2024, at 4 PM to participate in the voting[81] - The company's issued and fully paid share capital remains at 649,540,000 shares as of October 31, 2023[48]
环康集团(08169) - 2023 - 年度业绩