Financial Performance - Total revenue for the year ended November 30, 2024, was HKD 41,068,000, representing a 56.6% increase from HKD 26,203,000 in 2023[6] - Gross profit decreased to HKD 12,335,000 from HKD 15,429,000, a decline of 20.5%[6] - Operating loss improved to HKD 6,400,000 from HKD 11,466,000, a reduction of 44.5%[6] - Loss before tax decreased to HKD 7,829,000 from HKD 12,773,000, a decrease of 38.3%[6] - Basic loss per share improved to HKD 1.58 from HKD 2.69, a reduction of 41.3%[6] - The group reported a loss of approximately HKD 7,829,000 for the year ending November 30, 2024[12] - The company reported a pre-tax loss of HKD 7,829,000 in 2024, an improvement from a loss of HKD 12,773,000 in 2023[22] - The net loss for the year was approximately HKD 7,829,000, an improvement from a net loss of HKD 12,782,000 in the previous year[51] Assets and Liabilities - Total assets decreased to HKD 27,151,000 from HKD 41,720,000, a decline of 34.8%[7] - Total liabilities decreased to HKD 26,578,000 from HKD 33,545,000, a reduction of 20.7%[7] - As of November 30, 2024, the group's net current liabilities amounted to approximately HKD 292,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[12] - The company’s equity attributable to owners decreased to HKD 646,000 from HKD 8,175,000, a decline of 92.1%[7] - The group reported a loss of approximately HKD 7,829,000 for the year ending November 30, 2024, indicating significant uncertainty regarding its ability to continue as a going concern[71] - The group's net current liabilities amounted to approximately HKD 292,000 as of November 30, 2024, raising concerns about its financial stability[71] Cash Flow and Financial Support - Cash and cash equivalents increased to HKD 11,494,000 from HKD 6,123,000, an increase of 88.9%[7] - The group has received a financial support letter from Active Investments Capital Limited, agreeing not to demand repayment of approximately HKD 15,500,000 due on June 1, 2025, until the group is able to repay[16] - The board believes that the group will have sufficient working capital to meet its financial obligations for the next twelve months, considering planned measures[14] Revenue Segments - The group operates two business segments: Financial Solutions and Support Services, with distinct risks and returns associated with each segment[21] - The financial solutions segment generated revenue of HKD 15,438,000 in 2024, down 7.7% from HKD 16,738,000 in 2023[22] - The support services segment saw revenue rise to HKD 25,630,000 in 2024, up 170.5% from HKD 9,465,000 in 2023[22] - Revenue sources included approximately HKD 2,931,000 (7.1%) from software licensing and related services, HKD 11,009,000 (26.8%) from maintenance services, and HKD 14,010,000 (34.1%) from professional services[51] Operational Efficiency and Cost Control - The group is implementing stricter cost control measures to improve operational efficiency and enhance future cash flow from operations[16] - Operating expenses for the year were approximately HKD 14,065,000, a decrease of 19.2% compared to HKD 17,408,000 in the previous year[51] - The company is committed to improving operational efficiency and driving revenue growth as its primary objectives for 2025[62] Future Outlook and Strategy - The company plans to continue focusing on expanding its support services segment, which has shown significant growth[22] - The company anticipates continued strong performance from regulatory technology solutions and related services, contributing positively to the group's results as it approaches 2025[56] - The company plans to enhance its product and service offerings to assist clients with compliance matters, capitalizing on the growing market demand[56] - The board expects that efforts in developing new products and marketing will yield benefits in the upcoming year[62] - The company aims to optimize its business portfolio and explore profitable business opportunities, including financial-related services, to maximize shareholder value and sustainable growth[63] Credit and Receivables - The expected credit loss provision for trade receivables increased to HKD 15,007,000 in 2024 from HKD 11,793,000 in 2023, representing a rise of about 27.5%[40] - The total trade receivables for 2024 amount to HKD 22,287,000, down from HKD 38,845,000 in 2023, indicating a decrease of about 42.5%[40] - The net trade receivables after expected credit loss provisions are HKD 7,280,000 for 2024, compared to HKD 27,052,000 in 2023, a decline of approximately 73.0%[40] - The company confirmed a provision for expected credit losses on trade receivables of approximately HKD 3,214,000, down from HKD 7,474,000 in the previous year[53] Legal and Compliance - The company has no significant contingent liabilities as of November 30, 2024, maintaining a stable financial position[59] - The company has no major litigation as of November 30, 2024, indicating a favorable legal standing[61] Governance and Oversight - The audit committee held three meetings during the 2024 reporting year to review the company's reports and accounts, providing recommendations to the board[70]
辰罡科技(08131) - 2024 - 年度业绩