Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 848,843,000, an increase of 4.3% from HKD 813,522,000 in 2023[4] - The total profit for the year was HKD 545,990,000, compared to HKD 502,214,000 in the previous year, reflecting a growth of 8.7%[4] - The net loss for the year was HKD 1,915,392,000, significantly higher than the loss of HKD 68,682,000 in 2023, indicating a deterioration in financial performance[5] - The company's basic and diluted loss per share was HKD 2.86, compared to HKD 0.07 in the previous year[4] - The company reported a pre-tax loss of HKD 1,906,192,000, reflecting significant challenges across various segments[16] - The company reported a net loss of HKD 1,514,000 for the year ending December 31, 2024, significantly improved from a net loss of HKD 10,917,000 in 2023[24] Assets and Liabilities - Non-current assets decreased to HKD 3,015,287,000 from HKD 14,091,684,000, a decline of approximately 78.6%[6] - Current liabilities increased to HKD 1,561,562,000 from HKD 786,459,000, representing a rise of 98.5%[6] - The total assets decreased to HKD 10,247,529,000 from HKD 1,038,189,000, a significant drop of approximately 92.8%[6] - The company's equity attributable to shareholders decreased to HKD 6,981,959,000 from HKD 9,075,231,000, a decline of 23.9%[7] - The total liabilities stood at HKD 3,083,116,000, with a significant portion attributed to undistributed liabilities of HKD 2,223,340,000[16] - The total assets amounted to HKD 13,262,816,000, indicating a robust asset base despite the losses[16] Revenue Breakdown - Total revenue for the year ended December 31, 2024, was HKD 848,843,000, with external revenue contributing HKD 727,796,000 from the food business[16] - Revenue from the food manufacturing business was HKD 348,155,000, up from HKD 324,523,000, reflecting a growth of 7.3%[21] - Revenue from restaurant operations increased to HKD 376,103,000, compared to HKD 359,901,000, marking a rise of 4.5%[21] - Total revenue from customer contracts for the year ending December 31, 2024, is HKD 737,274,000, an increase from HKD 698,417,000 for the year ending December 31, 2023, representing a growth of approximately 5.6%[22] - Total revenue from external customers for the year ending December 31, 2024, is HKD 737,864,000, compared to HKD 699,814,000 in 2023, marking an increase of approximately 5.3%[23] Expenses and Costs - The company incurred financing costs of HKD 77,205,000, impacting overall profitability[16] - Other operating expenses rose to HKD 200,000,000 in 2024, primarily due to increased legal and professional fees[39] - Total employee costs amounted to HKD 25,279,000 for 2024, a decrease from HKD 26,558,000 in 2023[27] - Employee costs for the year amounted to HKD 313,000,000, slightly down from HKD 319,000,000 in the previous year[67] Investments and Fair Value - The company reported a fair value loss of HKD 63,617,000 on financial instruments measured at fair value through profit or loss, compared to a gain of HKD 19,629,000 in 2023[4] - The total fair value of financial assets measured at fair value through profit or loss is HKD 495,673,000, with a net loss of HKD 63,441,000 for the year[48] - The fair value of GSH Corporation Limited's stock held by the group is HKD 63,000,000, representing approximately 12.8% of the group's financial assets at fair value and 0.5% of total assets, with an unrealized loss of HKD 14,000,000 recorded for the year[50] - Amasia CIV's investment in Dialpad, an AI communication platform, has a fair value of HKD 56,000,000, accounting for about 11.3% of the group's financial assets at fair value and 0.4% of total assets[51] Legal and Settlement - The company recognized a significant litigation settlement expense of HKD 386,482,000 during the year[4] - The company has settled a lawsuit by paying USD 49,500,000 (approximately HKD 386,482,000) to resolve claims related to its ownership interest in Skye Mineral Partners, LLC[26] Audit and Compliance - The financial report for the year ending December 31, 2023, has been audited without any reservations from the auditor[9] - The accounting policies adopted for the annual results are consistent with those used in the audited financial statements for the year ending December 31, 2023[10] - The audit committee has reviewed the accounting principles and practices adopted by the group and agreed on the consolidated financial statements for the year ending December 31, 2024[72] - The independent auditor, Ernst & Young, confirmed that the figures in the preliminary announcement are consistent with the group's financial report for the year[73] Employee and Workforce - The group employed 861 full-time employees as of December 31, 2024, an increase from 839 full-time employees as of December 31, 2023[67] - The share of losses from joint ventures included a loss of HKD 1,191,746,000 from Lippo ASM Asia Property Limited for the year ending December 31, 2024, compared to a profit of HKD 173,993,000 in 2023[28] Future Outlook - The global growth rate is projected to be 3.3% in 2025, lower than the historical average of 3.7%, indicating a challenging economic environment[68] - The company will continue to manage its business cautiously and monitor its assets and investments amid significant uncertainties in the global economy[68]
力宝(00226) - 2024 - 年度业绩