Karin Technology Holdings Limited
Annual Report 2015
6
Financial
Review
STATEMENT OF FINANCIAL POSITION
NON-CURRENT ASSETS
Non-current assets comprised goodwill of HK$2.1 million;
investment properties, office equipment, leasehold land
and buildings and motor vehicles amounting to HK$426.1
million; deferred tax assets of HK$1.0 million; investment
in an associate of HK$0.8 million; prepayment for office
renovation of HK$0.6 million and a factored trade receivable
of HK$0.5 million. At 30 June 2015, non-current assets
amounted to HK$431.1 million, representing approximately
34.5% of the total assets. Increase in non-current assets
from last year was mainly due to (1) the acquisition of
an office premise in Beijing of HK$13.5 million; and (2)
increase in office equipment, leasehold land and buildings
of HK$11.6 million due to renovation of Hong Kong office.
CURRENT ASSETS
As at 30 June 2015, current assets amounted to HK$816.9
million, an increase of HK$160.7 million compared to
the immediately preceding financial year end at 30 June
2014. The increase was mostly because of (1) increase in
inventories of HK$54.1 million as a result of increasing
sales; (2) increase in cash and cash equivalents by HK$48.2
million which was mainly due to higher cash flow generated
from increase in businesses of CD and CEP segments; and
(3) increase in trade and bills receivables of HK$51.6 million.
CURRENT LIABILITIES
As at 30 June 2015, current liabilities amounted to
approximately HK$522.8 million, an increase of HK$105.7
million compared to the immediately preceding financial
year end at 30 June 2014. The increase was mainly due
to (1) increase in trade payables of HK$82.2 million which
was in line with increase in cost of sales; (2) increase in
other payables and accruals of HK$42.4 million which
was mostly due to (A) payment in advance of HK$33.5
million from customers for certain projects; and (B) increase
in staff bonus provision of HK$7.8 million due to profit
improvement; (3) increase in income tax payable of HK$6.8
million due to increase in profit for the current year; and
offset by decrease in interest-bearing bank and other
borrowings of HK$25.7 million.
S
TAFF
S
TATISTICS
0
5%
10%
15%
20%
25%
45
or
above
40-44
35-39
30-34
25-29
24
or
below
AGE RANGE
PRC AND OTHERS
HK
YEARS OF SERVICE
PRC AND OTHERS
HK
0
10%
20%
30%
40%
50%
60%
21
or
above
16-20
11-15
6-10
5
or
below
