Hang Yick Holdings Limited (the "Company") announced the annual performance for the financial year ended March 31, 2024. The Group's revenue decreased by approximately 15.0% to approximately HKD 157.2 million from approximately HKD 184.9 million in the previous fiscal year. Direct costs decreased by approximately 14.4% to approximately HKD 139.2 million from approximately HKD 162.5 million, and gross profit decreased by approximately 19.5% to approximately HKD 18.0 million from approximately HKD 22.4 million. Other income, other gains and losses decreased from approximately HKD 2.4 million to approximately HKD 0.6 million. Administrative expenses increased by approximately 6.0% to approximately HKD 23.0 million from approximately HKD 21.7 million. The Group recorded a loss of approximately HKD 4.1 million from continuing operations for the financial year 2024, while a profit of approximately HKD 1.8 million was recorded in the previous fiscal...Show More

Hang Yick Holdings Limited (the "Company") announced the annual performance for the financial year ended March 31, 2024. The Group's revenue decreased by approximately 15.0% to approximately HKD 157.2 million from approximately HKD 184.9 million in the previous fiscal year. Direct costs decreased by approximately 14.4% to approximately HKD 139.2 million from approximately HKD 162.5 million, and gross profit decreased by approximately 19.5% to approximately HKD 18.0 million from approximately HKD 22.4 million. Other income, other gains and losses decreased from approximately HKD 2.4 million to approximately HKD 0.6 million. Administrative expenses increased by approximately 6.0% to approximately HKD 23.0 million from approximately HKD 21.7 million. The Group recorded a loss of approximately HKD 4.1 million from continuing operations for the financial year 2024, while a profit of approximately HKD 1.8 million was recorded in the previous fiscal year. The discontinued operation recorded a loss of approximately HKD 23.5 million in the previous fiscal year, while there was no such loss recorded in this fiscal year. The loss attributable to owners of the Company was approximately HKD 4.1 million. As of March 31, 2024, the Group's cash and cash equivalents amounted to approximately HKD 63.6 million, total assets amounted to approximately HKD 188.4 million, and total equity attributable to owners of the Company amounted to approximately HKD 160.0 million. The Group's borrowings include lease liabilities of approximately HKD 0.4 million and zero bank borrowings. The debt-to-asset ratio is approximately 0.25%. The net cash outflow from investing activities was approximately HKD 11.8 million, while the net cash outflow from financing activities was approximately HKD 4.1 million. There were no other significant subsequent events that required disclosure by the Group after the reporting period.