2025-07-08-港交所-Ｆ８企业_2025年报_207页_5mb

F8 Enterprises (Holdings) Group Limited 2025 Annual Report Summary

Core Information

• Company Name: F8 Enterprises (Holdings) Group Limited
• Stock Code: 8347
• Year of Report: 2025
• Reporting Period: Year ended 31 March 2025
• Listing Exchange: Hong Kong Stock Exchange - GEM (Growth Enterprise Market)
• Registered Office: Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands
• Hong Kong Headquarters: Unit 3304, 33/F, Tower 1, Enterprise Square Five, 38 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong
• Company Website: www.f8.com.hk
• Auditors: HLB Hodgson Impey Cheng Limited
• Legal Advisor: D. S. Cheung & Co.
• Principal Banker: The Hongkong and Shanghai Banking Corporation Limited

Key Directors and Committees

• Chairman: Mr. Fong Chun Man
• Vice Chairlady: Ms. Lo Pui Yee
• Chief Executive Officer: Mr. Chan Chi Fai
• Independent Non-Executive Directors: Mr. Chui Chi Yun, Robert; Dr. Luk Che Chung, JP (appointed 10 October 2024); Mr. Wang Anyuan
• Resigned Director: Mr. Kwong Yuk Lap
• Audit Committee: Mr. Chui Chi Yun, Robert (Chairman); Dr. Luk Che Chung, JP; Mr. Wang Anyuan; Mr. Kwong Yuk Lap (resigned)
• Remuneration Committee: Mr. Wang Anyuan (Chairman); Mr. Chui Chi Yun, Robert; Mr. Fong Chun Man
• Nomination Committee: Dr. Luk Che Chung, JP (Chairman, appointed 10 October 2024); Mr. Chui Chi Yun, Robert; Mr. Fong Chun Man; Mr. Kwong Yuk Lap (Chairman, resigned)
• Authorised Representatives: Mr. Fong Chun Man, Ms. Lo Pui Yee
• Company Secretary: Ms. Leung Yin Fai (HKICPA, ACCA, CPA Australia)

Financial Highlights

• Revenue: Increased by approximately $19.2% to HK$345.8 million from HK$290.0 million in 2024
• Net Loss: Reduced to HK$0.8 million from HK$8.6 million in 2024, a decrease of HK$7.8 million
• Gross Profit: Increased to HK$17.4 million from HK$14.3 million in 2024
• Gross Profit Margin: Stable at 4.9% (2024) and 5.0% (2025)
• Net Profit Margin: Negative 0.2% (2025) vs. Negative 3.0% (2024)
• Current Assets: HK$92.3 million (2025) vs. HK$114.9 million (2024)
• Current Liabilities: HK$45.6 million (2025) vs. HK$71.1 million (2024)
• Current Ratio: 2.0 (2025) vs. 1.6 (2024)
• Gearing Ratio: 16.0% (2025) vs. 40.6% (2024)
• Net Current Assets: HK$46.7 million (2025) vs. HK$43.8 million (2024)

Business Overview

• The Group primarily engages in the sale and transportation of diesel oil and related products in Hong Kong.
• It also supplies marine diesel oil for construction vessels and lubricant oil for construction machinery and vehicles.
• The Group's customers are mainly construction companies.
• As of 31 March 2025, the Group operates a fleet of eight diesel tank wagons, a marine oil barge, a vessel, and a tug.
• The Group has been conducting marketing and promotional activities to secure purchase orders for marine diesel oil.

Strategic Direction and Outlook

• The Group aims to strengthen its market position in the Hong Kong diesel oil and marine diesel oil industry.
• It is optimistic about the market trend for diesel oil and marine diesel oil due to increased investment in public infrastructure (e.g., railway expansion, Hong Kong International Airport third runway project).
• The Group plans to increase talent recruitment and enhance marketing and business development strategies for the diesel oil segment.
• It will also proactively seek business opportunities to broaden income sources and improve shareholder value.

Financial Review

• Revenue Increase: Driven by higher demand from construction and logistics customers and increased sales volume.
• Cost of Sales: Increased by 19.1% to HK$328.4 million from HK$275.7 million in 2024, in line with revenue growth.
• Other Income: Decreased from HK$5.5 million to HK$2.0 million, mainly due to reduced transportation and rental income.
• Other Gains/Losses: Net loss of HK$2.6 million in 2025, down from HK$5.3 million in 2024, due to reduced losses from fair value changes of investment property.
• Administrative Expenses: Stable at HK$14.3 million (2024) and HK$14.9 million (2025).
• Other Operating Expenses: Reduced from HK$5.3 million to HK$4.0 million, mainly due to lower operating costs of motor vehicles and marine barges.

Capital Structure and Liquidity

• Equity Attributable to Owners: Approximately HK$90.7 million (2025) vs. HK$91.7 million (2024).
• Share Capital: Composed of ordinary shares only.
• Bank Borrowings:
  • Interest-bearing borrowings: HK$14.6 million (2025) vs. HK$37.2 million (2024)
  • Unused revolving borrowings: HK$28.5 million (2025) vs. HK$17.8 million (2024)
• Secured by: Corporate guarantee, fixed deposits, investment property, and personal guarantee from Mr. Fong Chun Man.
• Dividend Recommendation: No dividend recommended for 2025 (Nil in 2024).

Assets and Liabilities

• Pledged Assets:
  • Bank deposits: HK$6.2 million (2025) vs. HK$6.1 million (2024)
  • Investment property: HK$12.0 million (2025) vs. HK$14.6 million (2024)
  • Life insurance: HK$4.7 million (2025) vs. HK$4.6 million (2024)
  • Oil barges: HK$9.0 million (2025) vs. HK$10.8 million (2024)
  • Motor vehicles: Nil (2025) vs. HK$0.2 million (2024)

Implementation of Business Strategies

Risk and Exposure

• Foreign Exchange Risk: Exposure from lubricant oil transactions in Renminbi.
• No Derivatives or Hedging Instruments: Used to hedge foreign exchange exposure.
• No Material Capital Commitments or Contingent Liabilities except as disclosed in the report.

Summary of Key Financial Performance

• The Group has shown improved financial performance in 2025 compared to 2024, with reduced net loss and increased revenue.
• The reduction in net loss was mainly due to increased diesel sales and transportation, reversal of credit loss allowances, reduced other losses, and lower finance costs.
• Gross profit increased due to higher revenue.
• The Group maintains a prudent financial approach, with stable liquidity and lower gearing ratio in 2025.
• No dividends were recommended for 2025.