Financial Performance - The total revenue for the fiscal year ending March 31, 2024, was approximately HKD 2,935 million, an increase from HKD 2,463 million in the previous fiscal year, representing a growth of about 19.1%[11] - Gross profit increased from approximately HKD 13 million in the previous fiscal year to about HKD 85 million in the current fiscal year, marking a significant increase of approximately 553.8%[11] - Operating profit for the fiscal year was approximately HKD 48 million, a turnaround from an operating loss of about HKD 36 million in the previous fiscal year[11] - Basic earnings per share for the current fiscal year were approximately HKD 0.0489, compared to a basic loss per share of approximately HKD 0.2382 in the previous fiscal year[11] - The revenue from the material trading segment increased to approximately HKD 2,168 million in fiscal year 2024, up from HKD 1,599.7 million in fiscal year 2023[32] - The property maintenance segment's revenue increased from approximately HKD 595.6 million in fiscal year 2023 to about HKD 615.8 million in fiscal year 2024[31] - The construction segment's revenue decreased to approximately HKD 2.0 million in fiscal year 2024 from HKD 5.1 million in fiscal year 2023[26] - The renovation and improvement segment turned from a loss of approximately HKD 32.8 million in fiscal year 2023 to a profit of about HKD 13.5 million in fiscal year 2024[28] Business Operations - The construction-related business is experiencing a slowdown after a period of growth, with challenges arising from rising interest rates and increased operational costs[13] - The company aims to establish a modern supply chain management platform for port mixed ore integration, targeting large domestic steel enterprises as core supply chain partners[18] - The trade business is expected to continue generating revenue and contributing profits, with plans for diversification and development in 2024[18] - The transportation services business launched in the previous fiscal year is anticipated to bring considerable revenue and profits moving forward[19] Financial Position - The company reported a net cash balance of approximately HKD 47.7 million as of March 31, 2024, compared to HKD 25.2 million in the previous year[38] - The capital debt ratio as of March 31, 2024, was approximately 30.5%, a slight decrease from 31.1% in the previous year[39] - As of March 31, 2024, the total collateralized assets for bank financing and performance guarantees amounted to HKD 63,441,000, a slight decrease from HKD 64,128,000 in the previous year[45] - The company has unutilized bank financing of approximately HKD 447.95 million as of March 31, 2024, of which HKD 45.20 million is available for operational funding needs[151] Shareholder Matters - The company raised approximately HKD 22.5 million from the subscription of 1,499,999,000 shares at HKD 0.015 per share, with a net amount of HKD 22.3 million after expenses, intended for repaying outstanding debts and accrued interest[41] - The board proposed a rights issue to raise approximately HKD 36.2 million by issuing up to 224,999,972 new shares at a subscription price of HKD 0.161 per share[78] - After the rights issue completed on April 16, 2024, the total number of issued shares increased by 171,876,373 shares, with net proceeds of approximately HKD 1.72 million and HKD 24.25 million recorded in share capital and share premium respectively[78] - The company has a dividend policy that allows for the declaration of dividends, subject to board approval and compliance with applicable laws[75] - No dividends were recommended for the year ending March 31, 2024, consistent with the previous year[105] Governance and Management - The company has undergone changes in its board composition, with several new appointments aimed at enhancing governance and oversight[89] - The board consists of eight members, including five executive directors and three independent non-executive directors, ensuring a balanced governance structure[164] - The independent non-executive directors have confirmed their independence, meeting the requirements set forth in the Listing Rules[170] - The company has established specific written terms of reference for the audit, remuneration, and nomination committees to enhance governance practices[161] - The company emphasizes high standards of disclosure and financial transparency to shareholders and investors[194] Risk Management - The company has identified several key risks, including labor cost increases and project completion delays, which could adversely affect profitability[52] - The trading division has relatively low gross margins, making it susceptible to significant impairments in trade receivables and fluctuations in trading prices and exchange rates[55] - The logistics operations face cyclical risks and market price volatility, which the management aims to mitigate through enhanced risk management practices[56] - The company has no current interest rate hedging policy but continues to monitor interest rate risks and will consider hedging if necessary[57] - The board is responsible for maintaining a sound and effective risk management and internal control system[191] Employee Matters - For the fiscal year ending March 31, 2024, the total employee compensation amounted to approximately HKD 90.8 million, an increase from HKD 87.0 million in the previous fiscal year[74] - The company employed a total of 189 employees as of March 31, 2024, down from 211 employees the previous year[74] Charitable Contributions - The company made charitable donations of approximately HKD 27,000 for the year ending March 31, 2024, down from HKD 32,000 the previous year[114] Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements reflect the company's financial position fairly as of March 31, 2024[146] - The independent auditor has raised significant uncertainties regarding the company's ability to continue as a going concern as of March 31, 2024[158] - The company has complied with the standard code for securities transactions by directors throughout the reporting period[163]
绿色经济(01315) - 2024 - 年度财报