Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 31,322,000, a decrease of 34% from HKD 47,504,000 in 2023[4] - The company reported a loss before tax of HKD 97,631,000, compared to a loss of HKD 206,798,000 in the previous year, indicating an improvement of 53%[4] - The basic and diluted loss per share for the year was HKD 1.93, down from HKD 3.39 in 2023, reflecting a 43% reduction in loss per share[5] - The company reported a significant reduction in other losses, which decreased to HKD 55,423,000 from HKD 174,885,000, a 68% improvement[4] - The loss attributable to shareholders for the year was HKD 102.1 million, an improvement from HKD 179.3 million in 2023, primarily due to unrealized fair value losses of HKD 76.1 million from an investment in an associate[46] Revenue and Income - Rental income decreased to HKD 26,640,000 from HKD 31,665,000, representing a decline of 16%[13] - Group revenue for the year ended December 31, 2024, was HKD 31,322 million, a decrease of 34% from HKD 47,504 million in 2023[18] - Rental income from investment properties was HKD 26,640 million in 2024, down from HKD 31,665 million in 2023, reflecting an 18% decline[23] - The automotive segment recorded revenue of HKD 4.7 million for the year ended December 31, 2024, down from HKD 15.8 million in 2023, primarily due to macroeconomic challenges and increased market competition[38] Assets and Liabilities - The company’s non-current assets increased to HKD 735,812,000 from HKD 572,292,000, marking a growth of 29%[7] - The total equity attributable to owners of the company rose to HKD 212,587,000, up from HKD 164,625,000, an increase of 29%[8] - Total assets as of December 31, 2024, amounted to HKD 797,211 million, while total liabilities were HKD 529,698 million, resulting in a net asset position[20] - Total trade receivables as of December 31, 2024, amounted to HKD 17.1 million, an increase from HKD 12.4 million in 2023[11] - Total trade payables as of December 31, 2024, were HKD 35.2 million, up from HKD 18.3 million in 2023, with other payables including refundable customer deposits related to the terminated automotive business[31] Cash and Financial Costs - The company’s cash and cash equivalents decreased to HKD 18,116,000 from HKD 21,373,000, a decline of 15%[7] - Financial costs increased to HKD 33,781 million in 2024 from HKD 23,567 million in 2023, marking a 43% rise[22] - Interest expenses for the year amounted to HKD 22 million, with total outstanding borrowings from three other loans at HKD 361.5 million as of December 31, 2024[51] - The group had cash and cash equivalents of HKD 21.4 million as of December 31, 2024, down from HKD 26.9 million in 2023, with 74.5% in GBP, 23.6% in HKD, and 1.7% in RMB[48] Investments and Fair Value - The fair value loss on investments in an associate company was HKD 76,142 million in 2024, down from HKD 120,591 million in 2023, indicating a 37% reduction[22] - The fair value gain on investment properties for 2024 was HKD 26,163 million, compared to a loss of HKD 52,601 million in 2023, indicating a significant turnaround[25] - The fair value of the investment in CBL decreased to HKD 40.4 million as of December 31, 2024, down from HKD 117.1 million in 2023, representing 5.1% of the total assets of the group, compared to 18.6% in 2023[45] - The fair value change of investment properties resulted in an unrealized gain of HKD 26.2 million, contrasting with a fair value loss of HKD 52.6 million in 2023[60] Corporate Governance and Compliance - The company has maintained compliance with all corporate governance code provisions, with a noted deviation regarding the roles of the Executive Chairman and CEO[76] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2024, discussing risk management and internal controls[78] - The company has adopted a standard code for securities trading by directors, confirming compliance for the year ending December 31, 2024[77] Future Plans and Strategic Initiatives - The company plans to expand its CDMO business by focusing on mature European markets to increase revenue and profit margins from biopharmaceuticals and biosimilars[66] - The management team is actively exploring opportunities to optimize financial conditions and reduce financial cost pressures amid geopolitical tensions and economic uncertainty[67] - The sales cooperation agreements established during the European expansion efforts are expected to significantly boost sales in 2025[62] Miscellaneous - The company did not declare or propose any dividends for the year ended December 31, 2024, consistent with 2023[36] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024[73] - There were no significant acquisitions or disposals by subsidiaries, associates, or joint ventures for the year ending December 31, 2024[72] - The annual general meeting is scheduled for May 16, 2025[79]
意达利控股(00720) - 2024 - 年度业绩