Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 1,699,491, a decrease of 22.8% from HKD 2,204,673 in the previous year[2] - The cost of sales for the same period was HKD 1,631,819, down from HKD 2,127,327, resulting in a gross profit of HKD 67,672, compared to HKD 77,346 in the prior year[2] - The company experienced an operating loss of HKD 48,063, which is an increase from the operating loss of HKD 30,507 in the previous year, indicating a deterioration in operational performance[3] - The net loss for the year was HKD 49,850, compared to a net loss of HKD 44,593 in the previous year, reflecting a 11.4% increase in losses[3] - Basic and diluted loss per share increased to HKD 6.00 from HKD 5.37, indicating a decline in shareholder value[3] - Total revenue for 2024 was HKD 1,699,491,000, a decrease of 22.8% from HKD 2,204,673,000 in 2023[21] - Operating loss before tax for the group was HKD 45,806,000 in 2024, compared to a loss of HKD 35,148,000 in 2023, reflecting a deterioration of 30.5%[23] - The basic loss per share for 2024 was HKD 6.00, compared to HKD 5.37 in 2023, indicating a 12.4% increase in loss per share[31] - The cost of inventory recognized as an expense was HKD 1,635,373,000 in 2024, down from HKD 2,128,867,000 in 2023, representing a reduction of 23.3%[36] - The group reported a total of HKD 12,075,000 in other income for 2024, a slight decrease from HKD 12,809,000 in 2023[23] - The fair value loss on investment properties was HKD 19,000,000 in 2024, compared to HKD 3,600,000 in 2023, indicating a significant increase in losses[34] - The total liabilities for the group were HKD 51,564,000 in 2024, compared to HKD 52,312,000 in 2023, showing a decrease of 1.4%[21] - The group did not recommend a final dividend for 2024, compared to a dividend of HKD 0.01 per share in 2023[29] Assets and Equity - Total assets decreased to HKD 832,321 from HKD 894,206, showing a reduction of 6.9% year-over-year[10] - The company's cash and cash equivalents increased to HKD 264,579 from HKD 221,000, representing a growth of 19.7%[10] - Non-current assets decreased to HKD 181,605 from HKD 201,040, a decline of 9.7%[10] - The company reported a total equity of HKD 812,598, down from HKD 873,424, indicating a decrease of 7% in total equity[11] - The group's assets in Hong Kong amounted to HKD 541,675,000 in 2024, slightly up from HKD 541,670,000 in 2023, while assets in mainland China decreased from HKD 384,066,000 to HKD 322,487,000[21] - Cash and cash equivalents at the end of the fiscal year totaled HKD 265,000,000, compared to HKD 221,000,000 in the previous year[47] - The group has approximately HKD 265 million in unrestricted cash and bank balances as of March 31, 2024, compared to HKD 221 million in 2023[68] Borrowings and Financing - The company’s bank borrowings increased to HKD 5,482,000, compared to HKD 2,750,000 in the previous year[42] - The average interest rate on bank borrowings rose to 6.99% in 2024 from 5.57% in 2023[43] - The financing cost for the fiscal year was HKD 400,000, significantly lower than HKD 5,900,000 in the previous year[47] - The group’s financing income/costs net amount was HKD 2,257,000 in 2024, a significant improvement from a cost of HKD 4,641,000 in 2023[24] - The capital debt ratio is 1.70% as of March 31, 2024, compared to 1.21% in 2023[68] - The current ratio stands at 2,144% as of March 31, 2024, down from 2,298% in 2023[68] Operational Focus and Strategy - The company continues to focus on trading zinc, nickel, aluminum, and related products, as well as providing metal testing and consulting services, which are key areas for future growth[13] - The company achieved a significant milestone by producing approximately 237,240 kWh of renewable energy through a 200 kW solar power system during the fiscal year[51] - The company has strategically allocated resources towards the research and development of sustainable products in response to the growing market demand[49] - The group aims to expand its influence in the Southeast Asian market, leveraging the "Belt and Road" initiative to meet the growing demand for quality metal products and technical consulting services[62] - The group is committed to building a green and sustainable supply chain, actively disclosing carbon emission data to support clients' green transformation goals[60] - The group has been awarded a sustainable development-linked loan from an international bank, reflecting its efforts in sustainability[57] Recognition and Partnerships - The group has established a strategic partnership with a university in Ningbo to develop advanced metal materials, enhancing its R&D capabilities[54] - The group received recognition as a "Technology Enterprise" from the Zhejiang Provincial Department of Science and Technology, highlighting its commitment to innovation[54] Governance and Audit - The company has adopted the standard code of conduct for directors' securities transactions as per Appendix C3 of the Listing Rules[74] - The audit committee has reviewed the full-year performance for the fiscal year[75] - KPMG has compared the preliminary announcement of the group's financial performance with the draft consolidated financial statements, and the amounts are consistent[77]
利记(00637) - 2024 - 年度业绩