绿色能源科技集团年报 2023/24

Stock Code:979(Incorporated in Bermuda with limited liability) 2023/24Annual Report CONTENTS目 錄 CORPORATE INFORMATION公 司 資 料 BOARD OF DIRECTORS Executive Directors: Mr. Lo Kam Wing,JP(Chairman)Mr. Luo Xian PingMr. Ho Wai Hung Independent Non-executive Directors: Mr. Tam Chun WaMr. Sze Cheung Pang(passed away on 4 July 2023)Mr. Man Kwok Leung(appointed with effect from 13 July 2023)Ms. Jiang Zhihua(appointed with effect from 9 August 2023) AUDIT COMMITTEE Mr. Tam Chun Wa(Chairman)Mr. Sze Cheung Pang(passed away on 4 July 2023)Mr. Man Kwok Leung(appointed with effect from 13 July 2023)Ms. Jiang Zhihua(appointed with effect from 9 August 2023) REMUNERATION COMMITTEE Mr. Tam Chun Wa(Chairman)Mr. Sze Cheung Pang(passed away on 4 July 2023)Mr. Man Kwok Leung(appointed with effect from 13 July 2023)Ms. Jiang Zhihua(appointed with effect from 9 August 2023) NOMINATION COMMITTEE Mr. Lo Kam Wing,JP(Chairman)Mr. Tam Chun WaMr. Sze Cheung Pang(passed away on 4 July 2023)Ms. Jiang Zhihua(appointed with effect from 9 August 2023) COMPANY SECRETARY Mr. Ng Chi Keung AUDITOR Forvis Mazars CPA Limited(formerly known as Mazars CPA Limited) LEGAL ADVISER Conyers Dill & Pearman PRINCIPAL BANKER Chiyu Banking Corporation LimitedOCBC Wing Hang Bank LimitedBank of Communications Co Ltd (Hong Kong branch)Bank of China (Hong Kong) Limited REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM11Bermuda HEAD OFFICE PRINCIPAL PLACE OF BUSINESSIN HONG KONG 99777712 Room 7712, 77/F., The Center99 Queen’s Road CentralHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM11Bermuda HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 183171712-1716 Computershare Hong Kong Investor Services LimitedShop 1712-1716, 17/F Hopewell Centre183 Queen’s Road EastWan Chai, Hong Kong STOCK CODE 979 979 WEBSITE http://www.hk-greenenergy.com http://www.hk-greenenergy.com CHAIRMAN’S STATEMENT主 席 報 告 On behalf of the board of directors (the “Board”) of Green EnergyGroup Limited (the “Company”) and its subsidiaries (collectively the“Group”), I am pleased to present the annual report of the Groupfor the financial year ended 30 June 2024 (“FY2024”). PRINCIPAL BUSINESS (a)(b)(c)(d)5 During FY2024, the Group has principally engaged in (a) renewableenergy business, (b) waste construction materials and processingservice, (c) plastic recycling/metal scrap business and (d) moneylending business, upon the disposal of healthcare business which hasbeen discontinued to operate in June 2023. An analysis of the abovesegments can be found in note 5 of the audited consolidatedfinancial statements. FINANCIAL PERFORMANCE 71,000,00080,000,00011.3% The Group’s total revenue from continuing operations for FY2024was approximately HK$71.0 million (for the year ended 30 June 2023(“FY2023”): approximately HK$80.0 million) representing a decreaseof 11.3% as compared with that for FY2023. The decrease inrevenue was mainly resulted from the renewable energy businesssegment with the weaker oil demand from Europe under the EU’santi-dumping investigation on Chinese biodiesel imports and thesurge in freight rates. Further details of the financial analysis for FY2024 have beenincluded in the Management Discussion and Analysis section of thereport. SEGMENT INFORMATION CONTINUING OPERATIONS (a)Renewable Energy – trading and processing ofrecyclable oil/biodiesel (a) 62,200,00073,100,000 The Group recorded a revenue of approximately HK$62.2million from the trading of recyclable oil/biodiesel for FY2024(FY2023: approximately HK$73.1 million). The reduction inrevenue was mainly resulted from the weaker demand inaddition to fall in oil price during the year. SEGMENT INFORMATION – continued CONTINUING OPERATIONS – continued (a)Renewable Energy – trading and processing ofrecyclable oil/biodiesel – continued (a) The biofuels complex in Europe and Asia-Pacific was underpressure for much of 2023. An influx of advanced biodieselfrom China to Europe caused oversupplies of biodiesel, whichhave pressured renewable fuel prices in the European Union(“EU”) and consequently Asia-Pacific. Asian used cooking oilprices plunged to more than a two-year low on the back ofthe EU’s new anti-dumping investigations on Chinese usedcooking oil methyl ester, heightened shipping concerns andweak seasonal winter demand. 150% Shipping costs have increased by more than 150% sinceDecember 2023 as a result of disruptions to maritime traffic inthe Red Sea. Rising freight rates in the Red Sea and anincrease in war risk insurance premiums had not only erodedthe profit margin, but nearly closed the trade flow from Asiato Europe. Some buyers had postponed their orders inanticipation of freight rates normalizing once the situation inthe Mi