Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 1.215 billion, an increase of 37.5% compared to HKD 883.478 million in 2023[4] - Basic and diluted earnings per share for the year were HKD 5.76, up from HKD 5.57 in the previous year[6] - Profit attributable to the owners of the company increased from HKD 404 million in 2023 to HKD 410 million in 2024[4] - The total comprehensive loss for the year was HKD 91.741 million, compared to a comprehensive income of HKD 590.997 million in the previous year[6] - Operating service revenue rose to HKD 823,446,000, up 45.0% from HKD 567,807,000 in the previous year[15] - The adjusted EBITDA for 2024 was HKD 854 million, compared to HKD 671 million in 2023[40] - The overall gross profit margin improved to approximately 41.7%, compared to 40.7% in the previous year[43] Dividends - The company declared a total dividend of HKD 328 million for the year, consisting of an interim dividend of HKD 208 million and a proposed final dividend of HKD 120 million[3] - The final dividend proposed for the year ending December 31, 2024, is HKD 120,000,000, down from HKD 161,000,000 in 2023[33] - The interim dividend for the six months ending June 30, 2024, was declared at HKD 203,432,000, compared to HKD 236,663,000 in 2023[32] Assets and Liabilities - Non-current assets totaled HKD 7.312 billion, a decrease from HKD 7.878 billion in 2023[7] - Current assets increased to HKD 6.517 billion from HKD 5.644 billion in 2023[7] - Total liabilities rose to HKD 4.313 billion from HKD 3.482 billion in the previous year[8] - The company's equity attributable to owners decreased to HKD 9.421 billion from HKD 9.923 billion in 2023[8] - High liquidity assets increased to HKD 2,622 million as of December 31, 2024, compared to HKD 2,263 million in the previous year[55] - As of December 31, 2024, the company's debt-to-asset ratio increased to 31.2%, up from 25.7% in 2023, with total liabilities rising to HKD 4,313 million from HKD 3,482 million[56] - The debt-to-equity ratio as of December 31, 2024, was 15.9%, a significant increase from 8.0% in 2023, with total borrowings rising to HKD 1,496 million from HKD 793 million[57] Shareholder Actions - The company repurchased 40,856,000 shares in 2024 at a total cost of approximately HKD 58,736,000[31] - The company issued 252,802,000 new shares at HKD 1.80 per share in January 2023, raising approximately HKD 448,000,000[31] - The company repurchased a total of 40,856,000 shares at a total cost of HKD 58,736,737.57 during the fiscal year ending December 31, 2024[70] Tax and Financial Costs - The company reported a significant increase in income tax provision to HKD 85,581,000 for 2024, compared to HKD 6,906,000 in 2023[19] - The company reported a net finance cost of HKD 116.287 million, compared to HKD 105.689 million in the previous year[5] - The financial cost for the year was HKD 116 million, a 10.0% increase from the previous year, primarily due to rising lease liabilities[44] Investments and Projects - The company expanded its asset management scale in the parking and transportation sector by acquiring operational rights for multiple airport parking projects in 2024[38] - The first customized project, "Ideal Auto Headquarters Phase II," was fully operational in Q1 2024, enhancing the company's presence in the industrial park sector[39] - The company is deepening its layout in the robotics industry through the newly established Beijing Shoucheng Robotics Technology Industry Co., Ltd., leveraging a HKD 10 billion fund[37] - The group successfully completed the operational handover of major parking projects at Guangzhou Baiyun International Airport and Beijing Fengtai Station, and secured additional projects at Lhasa Gonggar Airport and Tianjin Binhai International Airport[47] - The group issued a second phase of parking asset REITs with a priority rate of 2.4% in December 2024, enhancing cash flow and revenue levels from quality parking asset projects in key regions[48] Risk Management and Governance - The group faces various financial risks, including market, credit, and liquidity risks, and has established a comprehensive risk management plan[51] - The group maintains a balanced capital structure to maximize shareholder returns, with regular reviews of its capital management strategy[54] - The company has adhered to all provisions of the Corporate Governance Code during the fiscal year ending December 31, 2024[71] Employee and Social Responsibility - The company had a total of 450 employees as of December 31, 2024, promoting equal employment opportunities and a non-discriminatory work environment[65] - The company is committed to providing comprehensive social insurance benefits for all employees, including retirement plans and annual health check-ups[66] - The compensation policy is designed to ensure fairness and competitiveness, with a performance-based incentive system to retain talent[65] Future Outlook - The company plans to allocate approximately HKD 89 million for infrastructure asset management and HKD 60 million for general working capital from the proceeds of a convertible bond issuance[63][64] - The company aims to enhance cash flow management flexibility through the reallocation of unutilized proceeds towards infrastructure asset management[63] - The board believes that strategic investments will provide stable returns for the company moving forward[59] - The company plans to increase investment in core regions and focus on industries such as parking, industrial parks, and consumer infrastructure assets with stable cash returns[68] - The company aims to deepen its investment in the robotics industry and establish a complete ecosystem for robotics[67] - The company expresses gratitude to shareholders and strategic investors for their support and aims to expand its smart industry services[72]
首程控股(00697) - 2024 - 年度业绩