Financial Performance - The company's total revenue for the year ended March 31, 2024, was HKD 284,430,000, a decrease of 16.5% compared to HKD 340,533,000 in the previous year[4] - Gross profit for the year was HKD 207,729,000, down 18.1% from HKD 253,691,000 in the prior year[4] - Net profit for the year was HKD 58,397,000, representing a decline of 44.6% from HKD 105,512,000 in the previous year[4] - Basic and diluted earnings per share decreased to HKD 2.60 from HKD 4.72, a drop of 44.8%[4] - The company reported a total comprehensive income of HKD 23,055,000, down 32.0% from HKD 33,887,000 in the previous year[6] - Revenue from cemetery business in China decreased to HKD 284,430,000 in 2024 from HKD 340,533,000 in 2023, representing a decline of approximately 16.5%[22] - Sales of burial plots and niches dropped to HKD 254,494,000 in 2024 from HKD 307,778,000 in 2023, a decrease of about 17.3%[27] - Total other income decreased to HKD 8,744,000 in 2024 from HKD 13,521,000 in 2023, reflecting a decline of approximately 35.5%[27] - The company’s net profit attributable to shareholders for 2024 is HKD 57,824,000, down from HKD 104,921,000 in 2023, indicating a decline of 44.8%[39] Assets and Liabilities - The company's total assets as of March 31, 2024, were HKD 1,805,171,000, down from HKD 1,832,259,000 in the previous year[8] - Non-current assets decreased to HKD 691,611,000 from HKD 727,036,000, a decline of 4.9%[8] - The company's equity totalled HKD 978,671,000, down from HKD 1,006,707,000, a decrease of 2.8%[9] - Trade receivables at the end of 2024 amount to HKD 1,009,000, slightly down from HKD 1,023,000 in 2023[44] - Trade payables at the end of 2024 total HKD 36,456,000, a slight decrease from HKD 37,468,000 in 2023[45] - The debt-to-asset ratio as of March 31, 2024, was approximately 0.23, down from 0.24 in 2023, indicating a reduction in total liabilities[78] Cash Flow - The net cash flow from operating activities for the year 2024 was approximately HKD 91.64 million, a decrease of 50% compared to HKD 182.95 million in 2023[77] - The net cash flow from investing activities was HKD 57.78 million in 2024, compared to a cash outflow of HKD 57.24 million in 2023[77] - The net cash flow used in financing activities was HKD 79.74 million in 2024, an increase from HKD 33.65 million in 2023[77] Expenses - Administrative expenses increased to approximately HKD 90.3 million from HKD 83.6 million, primarily due to higher maintenance costs for cemetery and burial plot assets[73] - Financing costs decreased to HKD 675,000 in 2024 from HKD 1,003,000 in 2023, a decline of approximately 32.6%[30] - Employee benefits expenses (excluding directors and key management personnel) were HKD 39,030,000 in 2024, slightly down from HKD 39,804,000 in 2023, a decrease of about 1.9%[29] Dividends - The total interim dividend declared for 2024 is HKD 46,649,000, an increase of 4.9% compared to HKD 44,427,000 in 2023[36] - The board has proposed a final dividend of HKD 1.3 per share for the year ending March 31, 2024, down from HKD 1.5 per share in 2023[91] - The total dividend for the year, including an interim dividend of HKD 0.8 per share, will amount to HKD 2.1 per share, compared to HKD 2.0 per share in 2023[91] Strategic Focus - The company plans to focus on market expansion and new product development to drive future growth[11] - The company plans to focus on green burial as a core development strategy and increase R&D efforts for new products[65] - The company aims to explore technology-enabled services and modernize the burial industry through innovative concepts[65] - The company is committed to integrating cultural and ecological elements into its services, creating a holistic memorial experience[56] - The group aims to lead the digital transformation in the funeral industry through innovative technologies and services, including AI applications[50] Community Engagement - The group has actively engaged in community service and partnerships, enhancing its brand image and operational integration in local markets[52] - The company emphasizes talent management and professional training, establishing a unified "Anxian People" service system to enhance operational efficiency[55] Acquisitions and Developments - The acquisition of Yinchuan Fushou Garden aligns with national trends in green burial practices, enhancing the group's sustainable development strategy[52] - Yinchuan Fushou Garden has introduced eco-friendly burial methods and a "Life Crystal" studio, becoming the only service provider in Ningxia, which has garnered public attention[52] - The Zunyi Dachenshan Ecological Cemetery has shown significant vitality and development potential, with comprehensive upgrades to its facilities and services, aiming to set a benchmark in Guizhou province[53] Taxation - The company's income tax expense for the year 2024 is HKD 29,321,000, a decrease of 27.7% from HKD 40,529,000 in 2023[34] - The company’s effective tax rate for 2024 is approximately 33.4%, compared to 27.7% in 2023[34]
安贤园中国(00922) - 2024 - 年度业绩