9 results
20-F
2024 FY
MSW
Ming Shing Group Holdings Ltd
26 Aug 24
Annual report (foreign)
1:41pm
Schedule of Income Tax Expense Reconciliation
2024 | 2023 | 2022 | ||||||||||
For the years ended March 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
USD | USD | USD | ||||||||||
Profit before income taxes | 2,975,533 | 3,256,125 | 2,120,605 | |||||||||
Hong Kong Profits Tax rate | 16.5 | % | 16.5 | % | 16.5 | % | ||||||
Income taxes computed at Hong Kong Profits Tax rate | 490,963 | 537,260 | 349,900 | |||||||||
Reconciling items: | ||||||||||||
Tax effect of income that is not taxable* | (25) | (127,476) | (12,088) | |||||||||
Tax effect of non-deductible expenditure | 90,539 | - | - | |||||||||
Change in valuation allowance | 88,998 | 81,028 | 1,720 | |||||||||
Effect of two-tier tax rate | (21,154) | (21,154) | (21,154) | |||||||||
Statutory tax deduction# | (385) | (769) | (1,282) | |||||||||
Income tax expense | 648,936 | 468,889 | 317,096 |
20-F
2024 FY
MSW
Ming Shing Group Holdings Ltd
26 Aug 24
Annual report (foreign)
1:41pm
For the years ended March 31, | Changes | |||||||||||||||
2023 | 2022 | Amount | % | |||||||||||||
US$ | US$ | US$ | ||||||||||||||
Revenue | 21,868,220 | 14,383,980 | 7,484,240 | 52.0 | % | |||||||||||
Cost of revenue | (18,373,672) | (11,755,111) | 6,618,561 | 56.3 | % | |||||||||||
Gross profit | 3,494,548 | 2,628,869 | 865,679 | 32.9 | % | |||||||||||
Operating expenses | ||||||||||||||||
General and administrative expenses | (855,597) | (512,650) | 342,947 | 66.9 | % | |||||||||||
Total operating expenses | (855,597) | (512,650) | 342,947 | 66.9 | % | |||||||||||
Income from operations | 2,638,951 | 2,116,219 | 522,732 | 24.7 | % | |||||||||||
Other income (expense) | ||||||||||||||||
Interest expense, net | (179,986) | (74,574) | 105,412 | 141.4 | % | |||||||||||
Other income | 797,160 | 78,960 | 718,200 | 909.6 | % | |||||||||||
Total other income, net | 617,174 | 4,386 | 612,788 | 13,971.5 | % | |||||||||||
Income before tax expense | 3,256,125 | 2,120,605 | 1,135,520 | 53.5 | % | |||||||||||
Income tax expense | (468,889) | (317,096) | 151,793 | 47.9 | % | |||||||||||
Net income and total comprehensive income | 2,787,236 | 1,803,509 | 983,727 | 54.5 | % |
20-F
2024 FY
MSW
Ming Shing Group Holdings Ltd
26 Aug 24
Annual report (foreign)
1:41pm
2024 | 2023 | 2022 | ||||||||||
For the years ended March 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
USD | USD | USD | ||||||||||
Revenue | 27,572,692 | 21,868,220 | 14,383,980 | |||||||||
Cost of revenue | (22,479,613) | (18,373,672) | (11,755,111) | |||||||||
Gross profit | 5,093,079 | 3,494,548 | 2,628,869 | |||||||||
Operating expenses | ||||||||||||
General and administrative expenses | (1,846,753) | (855,597) | (512,650) | |||||||||
Total operating expenses | (1,846,753) | (855,597) | (512,650) | |||||||||
Income from operations | 3,246,326 | 2,638,951 | 2,116,219 | |||||||||
Other income (expense) | ||||||||||||
Interest expense, net | (286,090) | (179,986) | (74,574) | |||||||||
Other income | 15,297 | 797,160 | 78,960 | |||||||||
Total other income, net | (270,793) | 617,174 | 4,386 | |||||||||
Income before tax expense | 2,975,533 | 3,256,125 | 2,120,605 | |||||||||
Income tax expense | (648,936) | (468,889) | (317,096) | |||||||||
Net income and total comprehensive income | 2,326,597 | 2,787,236 | 1,803,509 | |||||||||
Net income per share attributable to ordinary shareholders | ||||||||||||
Basic and diluted | 0.21 | 0.25 | 0.22 | |||||||||
Weighted average number of ordinary shares used in computing net income per share | ||||||||||||
Basic and diluted | 11,250,000 | 11,250,000 | 8,136,986 |
20-F
2024 FY
MSW
Ming Shing Group Holdings Ltd
26 Aug 24
Annual report (foreign)
1:41pm
Schedule of Components of Income Tax Expense (Benefit)
2024 | 2023 | 2022 | ||||||||||
For the years ended March 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
USD | USD | |||||||||||
Current | ||||||||||||
Cayman Islands | - | - | - | |||||||||
British Virgin Islands | - | - | - | |||||||||
Hong Kong | 649,119 | 469,692 | 318,090 | |||||||||
Current | 649,119 | 469,692 | 318,090 | |||||||||
Deferred | ||||||||||||
Cayman Islands | - | - | - | |||||||||
British Virgin Islands | - | - | - | |||||||||
Hong Kong | (183) | (803) | (994) | |||||||||
Deferred | (183) | (803) | (994) | |||||||||
Total | 648,936 | 468,889 | 317,096 |
20-F
2024 FY
MSW
Ming Shing Group Holdings Ltd
26 Aug 24
Annual report (foreign)
1:41pm
For the years ended March 31, | Changes | |||||||||||||||
2024 | 2023 | Amount | % | |||||||||||||
US$ | US$ | US$ | ||||||||||||||
Revenue | 27,572,692 | 21,868,220 | 5,704,472 | 26.1 | % | |||||||||||
Cost of revenue | (22,479,613) | (18,373,672) | 4,105,941 | 22.3 | % | |||||||||||
Gross profit | 5,093,079 | 3,494,548 | 1,598,531 | 45.7 | % | |||||||||||
Operating expenses | ||||||||||||||||
General and administrative expenses | (1,846,753) | (855,597) | 991,156 | 115.8 | % | |||||||||||
Total operating expenses | (1,846,753) | (855,597) | 991,156 | 115.8 | % | |||||||||||
Income from operations | 3,246,326 | 2,638,951 | 607,375 | 23.0 | % | |||||||||||
Other income (expense) | ||||||||||||||||
Interest expense, net | (286,090) | (179,986) | 106,104 | 59 | % | |||||||||||
Other income | 15,297 | 797,160 | (781,863) | (98.1 | )% | |||||||||||
Total other (expense) income, net | (270,793) | 617,174 | (887,967) | (143.9 | )% | |||||||||||
Income before tax expense | 2,975,533 | 3,256,125 | (280,592) | (8.6 | )% | |||||||||||
Income tax expense | (648,936) | (468,889) | 180,047 | 38.4 | % | |||||||||||
Net income and total comprehensive income | 2,326,597 | 2,787,236 | (460,639) | (16.5 | )% |
20-F
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26 Aug 24
Annual report (foreign)
1:41pm
20-F
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26 Aug 24
Annual report (foreign)
1:41pm
20-F
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26 Aug 24
Annual report (foreign)
1:41pm
20-F
inks6 geoclxy
26 Aug 24
Annual report (foreign)
1:41pm
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