Pacific Textiles Limited announced its annual financial performance ending on March 31, 2024. The company achieved sales revenue of HKD 4.665 billion, with Customer A and B contributing 45% and 21% of the sales respectively. Gross profit was HKD 0.424 billion, with a gross margin of 9.1%. Operating expenses were HKD 0.237 billion, accounting for 5.1% of revenue. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) were HKD 0.421 billion, accounting for 9.0% of revenue. Financial income was HKD 42.388 million, while financial costs were HKD 60.481 million. Depreciation expenses were HKD 0.2 billion, included in the cost of sales and operating expenses. The profit attributable to the company's shareholders was HKD 0.167 billion, with a net profit margin of 3.6%. The company had total assets of HKD 5.566 billion, and equity attributable...Show More

Pacific Textiles Limited announced its annual financial performance ending on March 31, 2024. The company achieved sales revenue of HKD 4.665 billion, with Customer A and B contributing 45% and 21% of the sales respectively. Gross profit was HKD 0.424 billion, with a gross margin of 9.1%. Operating expenses were HKD 0.237 billion, accounting for 5.1% of revenue. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) were HKD 0.421 billion, accounting for 9.0% of revenue. Financial income was HKD 42.388 million, while financial costs were HKD 60.481 million. Depreciation expenses were HKD 0.2 billion, included in the cost of sales and operating expenses. The profit attributable to the company's shareholders was HKD 0.167 billion, with a net profit margin of 3.6%. The company had total assets of HKD 5.566 billion, and equity attributable to the company's shareholders was HKD 2.954 billion. Cash and bank balances were HKD 0.895 billion, while borrowings were HKD 1.481 billion. Inventory was HKD 1.031 billion, with an inventory turnover period of 86 days. Accounts receivable and bills were HKD 0.736 billion, with a turnover period of 61 days. Accounts payable and bills were HKD 0.63 billion, with a turnover period of 54 days. In terms of geographical revenue distribution, Vietnam and Mainland China contributed significant revenue of HKD 2.33 billion and HKD 1.151 billion respectively. Non-current assets were mainly located in Vietnam (HKD 1.494 billion) and Mainland China (HKD 1.042 billion). The total net asset value of the joint venture companies of SPM Automobiles and PT Sri Lanka was HKD 0.251 billion. As the market cap was lower than the book value, a depreciation loss of HKD 64.196 million was recognized for PT Sri Lanka's investment. Dividends received from the joint venture companies were HKD 10.186 million. Non-controlling interests amounted to HKD 12.182 million, mainly from investments in Vietnam. Major subsidiaries include Pacific Textiles Limited, Pacific Textiles Overseas Holdings Limited, and Pacific Crystal Textiles Limited. Cash and bank deposits in Vietnam and Mainland China are subject to local forex regulations. The total amount of lease liabilities was HKD 78.08 million, of which HKD 54.27 million was recognized as depreciation of the right-of-use assets. In terms of capital management, the company's debt ratio was 50%, with total debt of HKD 1.491 billion and total capital of HKD 2.966 billion.