新耀莱年报 2024

)(Incorporated in Bermuda with limited liability於百慕達註冊成立之有限公司(Stock Code股份代號: 970) Annual Report年 報2024 Contents 7 10 14 39 60 88 167 169 171 174 176 312 Corporate Information ********* BOARD OF DIRECTORS Gao Yafei**(appointed with effectfrom 23 April 2024 and resignedwith effect from 22 June 2024) Corporate Information Corporate Information REMUNERATION COMMITTEEWang Hui(Chairman) (appointedwith effect from 22 June 2024) Chan Man Kit(appointed witheffect from 30 April 2024)You Yiyang(appointed with effectfrom 30 May 2024)Li Baochun(Chairman) (appointedwith effect from 30 April 2024and ceased with effect from 22June 2024) Gao Yafei(appointed with effectfrom 30 April 2024and ceasedwith effect from 22 June 2024) Corporate Information Corporate Information Financial Highlights Revenue for the financial year ended 31 March 2024 decreasedby approximately 18.3% from approximately HK$3,997.7 million toapproximately HK$3,264.7 million as compared with that of the lastfinancial year. 3,997,700,00018.3%3,264,700,000 578,100,00047.0%306,300,000Grossprofit for this financial year decreased by approximately47.0%from approximately HK$578.1 million to approximatelyHK$306.3 million. 67,400,00026,100,000 Other income, gains and losses for this financial year were lossesof approximately HK$67.4 million (2023: losses of approximatelyHK$26.1 million). 8,700,00012,700,000 Impairment loss recognised on loan receivables and loan interestreceivablesamounted to approximately HK$8.7 million(2023:approximately HK$12.7 million). 207,600,0004,500,000Impairment loss recognised on goodwill amounted to approximatelyHK$207.6 million (2023: approximately HK$4.5 million). 40,500,000Impairment loss recognised on other intangible assets amounted toapproximately HK$40.5 million (2023: nil). 87,300,000Impairmentloss recognised on property,plant and equipmentamounted to approximately HK$87.3 million (2023: nil). 16.9%Sellingand distribution costs for this financial year decreasedby approximately 16.9% as compared with the same in the lastfinancial year. 25.5% Administrativeexpenses for this financial year increased byapproximately25.5%as compared with the same in the lastfinancial year. 613,400,00053,100,000 Loss attributable to owners of the Company for the financial yearended31 March 2024 was approximately HK$613.4 million ascomparedwith loss attributable to owners of the Company ofapproximatelyHK$53.1 million recorded for the year ended 31March 2023. 167.415.5 Lossper share attributable to owners of the Company wereHK167.4 cents for this financial year as compared with loss pershare of HK15.5 cents in the last financial year. No dividend was declared for this financial year (2023: nil). Financial Highlights Financial Highlights Financial Position: Total assetsTotal liabilitiesNet assetsNet tangible worth Gross profit marginReturn on equityCurrent ratioGearing ratio Chairman’s Statement 5% Premier Li Qiang stated at the opening ceremony of the NationalPeople’s Congress of China held in March 2024 that China hasset the target of its economic growth for 2024 at around 5%. Thistargetis on a par with the one set last year,reflecting China’sdetermination to continue consolidating the positive momentum ofits economic recovery. It represents China’s fundamental judgmentthat it is not only confident of, but also certain about, its futuredevelopment,signalling an increasingly assertive expectation forthe medium- to long-term development of the Chinese economy.Domestic demand has always been the fundamental driving forcebehindChina’s economic development.Since the beginning of2024,China’s economy has continued its recovery trend,withstable growth in consumption. With the implementation of a seriesof policies and measures aimed at expanding domestic demandand promoting consumption to drive a virtuous economic cycle, itis expected that the consumer market will usher in a new round ofprosperity in 2024. 3,997,700,0003,264,700,000578,100,000306,300,00085.6%612,000,00053,000,000 Lookingback to last year,due to the prolonged weak marketsentiment and intense competition in the automotive industry, theGroup’s revenue decreased from HK$3,997.7 million to HK$3,264.7million during the financial year under review. Gross profit for thefinancial year under review decreased from HK$578.1 million forlast year to HK$306.3 million for the current year. The automotivebusinessremained our major source of income,accounting forapproximately 85.6% of the Group’s businesses. Loss attributableto owners for the current financial year amounted to approximatelyHK$612 million as compared with a loss of approximately HK$53million for the last financial year. Chairman’s Statement China’s Luxury Goods and Automobiles Markets 20232023 China Luxury Goods Market: AYear of Recovery and Transition12%35-40%24-26% Anumber of reputable authorities,investment banks and globalresearchinstitutions have continued to publish certain latestre