Tai Hing Group Holdings announced its financial results and corporate information for the year ended March 31, 2024. The company's annual profit increased to HKD 65.125 million, up from HKD 51.664 million in the previous year. Revenue reached HKD 3.1369 billion. Basic earnings per share were 39.10 HK cents. It is recommended to pay a final dividend of 30.0 HK cents per share, with a total annual dividend of 41.0 HK cents. Executive directors include Lo Hoi Yeung (Executive Chairman), Law Wai Shing (Chief Executive Officer) and a director surnamed Li. Independent non-executive directors include Chan Kai Nin, Lau Kwok Kuen, Wong Kam To and Yip Cheuk Tak. The auditor is Deloitte. The main banks are Bank of East Asia and others. The company is registered...Show More

Tai Hing Group Holdings announced its financial results and corporate information for the year ended March 31, 2024. The company's annual profit increased to HKD 65.125 million, up from HKD 51.664 million in the previous year. Revenue reached HKD 3.1369 billion. Basic earnings per share were 39.10 HK cents. It is recommended to pay a final dividend of 30.0 HK cents per share, with a total annual dividend of 41.0 HK cents. Executive directors include Lo Hoi Yeung (Executive Chairman), Law Wai Shing (Chief Executive Officer) and a director surnamed Li. Independent non-executive directors include Chan Kai Nin, Lau Kwok Kuen, Wong Kam To and Yip Cheuk Tak. The auditor is Deloitte. The main banks are Bank of East Asia and others. The company is registered in Bermuda and its head office is located in Hong Kong. The company complies with corporate governance guidelines, and the board of directors oversees risk management and internal controls. It maintains regular dialogue with institutional investors and analysts, encourages shareholders to attend meetings and convey concerns. The dividend policy aims to provide stable and sustainable returns. A financial review shows total assets of HKD 2.2478 billion, net current liabilities of HKD 61.9 million, and shareholders' equity of HKD 0.6604 billion. As of March 31, 2024, the company had no bank loans. Retirement plans are available for Hong Kong and overseas employees. Public shareholding is sufficient under listing rules. KPMG has resigned as auditor and has been replaced by Deloitte. Details of dividends and director remuneration have been disclosed. During the year, the company did not purchase, sell, or redeem any listed securities. The group's cash and cash equivalents were HKD 0.640983 billion. Profit before tax was HKD 65.125 million. The group's total current assets were HKD 0.796398 billion, and total current liabilities were HKD 0.858343 billion. Net current liabilities were recorded as HKD 61.945 million, mainly due to lease liabilities of HKD 0.389911 billion. The group's comprehensive financial statements have been prepared on a going concern basis. The group's financial statements are prepared on a historical cost basis, except as described in accounting policies. The group has applied the new revised Hong Kong Financial Reporting Standards effective from April 1, 2023. As of March 31, 2024, and March 31, 2023, the group's subsidiaries had no outstanding interest-bearing loans or borrowings.