Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 15,567,468, a decrease of 1.68% from HKD 15,832,132 in 2023[3] - Gross profit for 2024 was HKD 4,439,104, down 13.14% from HKD 5,110,692 in 2023[3] - Operating profit decreased to HKD 2,727,966 in 2024, compared to HKD 3,499,944 in 2023, reflecting a decline of 22.05%[3] - The net loss for the year was HKD 1,537,357, compared to a profit of HKD 193,396 in 2023, indicating a significant downturn[4] - The total comprehensive loss for the year was HKD 3,016,855, compared to a loss of HKD 665,620 in 2023, indicating a worsening financial position[5] - The company reported a basic loss per share of HKD 20.48 for 2024, compared to a loss of HKD 2.94 in 2023[4] - The company reported a loss attributable to equity shareholders of HKD 1,822,579,000 for 2024, compared to a loss of HKD 261,397,000 in 2023[33] - The group achieved a total revenue of HKD 15.57 billion and a gross profit of HKD 4.44 billion for the year, with a core profit of approximately HKD 950 million, resulting in a loss attributable to equity shareholders of HKD 1.82 billion[69] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 171,169,614, a slight decrease from HKD 174,413,358 in 2023[6] - The company's equity attributable to shareholders decreased to HKD 38,549,963 in 2024 from HKD 42,337,606 in 2023, a decline of 8.36%[7] - The total liabilities for 2024 were HKD 125,849,655, up from HKD 126,933,147 in 2023[24] - The company’s total liabilities decreased to HKD 37,365,049,000 in 2024 from HKD 39,039,102,000 in 2023, a reduction of about 4.3%[41] - The company recognized impairment provisions of HKD 879,000,000 for investments in Road King and HKD 292,000,000 for investments in Deep King, reflecting updated cash flow forecasts[28] Revenue Segments - In 2024, the total revenue from property development was HKD 9,133,298, a decrease of 4.7% from HKD 9,585,487 in 2023[25] - Property management service revenue increased to HKD 3,289,493 in 2024, up 17.7% from HKD 2,793,579 in 2023[25] - The property investment revenue for the year was approximately HKD 1.377 billion, a year-on-year decrease of 3.0%, with a gross profit margin of about 65%[102] - The company’s property management business revenue reached approximately HKD 3.29 billion, an increase of 17.8% year-on-year, with a gross profit margin of about 15.7%[104] Cash Flow and Financial Resources - The company has assessed its cash flow forecasts and believes it has sufficient operating funds to meet its financial obligations for at least the next 12 months[11] - The company has sufficient financial resources to continue its operations for the foreseeable future, supported by expected cash flows and financing capabilities[11] - The group’s cash balance, including restricted cash, was HKD 11.8 billion, a decrease from HKD 14.44 billion in the previous year[111] Cost Management - The cost of sales and services for 2024 was HKD 13,355,298, an increase of 1.3% from HKD 13,189,374 in 2023[26] - Employee benefits expenses decreased to HKD 731,994 in 2024 from HKD 890,466 in 2023, a reduction of 17.8%[26] - The group reduced sales and management expenses by 20.6% compared to 2023, saving approximately HKD 420 million[75] - The group recognized impairment provisions totaling approximately HKD 1.171 billion for its investments in certain joint ventures due to poor performance[114] Future Outlook and Strategy - The company anticipates a more proactive macro policy from the Chinese government in 2025, focusing on economic recovery and risk prevention[78] - The company aims to enhance its core competitiveness by integrating green building and smart technology, focusing on the development of fourth-generation ecological residences[80] - The company plans to strengthen its asset management and operational services, transitioning from front-end development to back-end operations and services[81] - The company will actively promote the revitalization of existing assets through upgrades, innovation, and asset securitization[82] - The company is committed to increasing investment in technological innovation and expanding its innovation business segment as a second growth curve[83] Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the 2024 fiscal year[122] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and discussed audit, risk management, internal controls, and financial reporting matters for the 2024 fiscal year[123] Shareholder Information - The board did not recommend the distribution of a final dividend for the year ending December 31, 2024[119] - The company declared a final dividend of HKD 0.07 per share for the year ended December 31, 2023, totaling approximately HKD 622,916,000, down from HKD 1,067,855,000 in 2022[34] - The company did not declare an interim dividend for 2024, compared to HKD 0.02 per share in 2023, which amounted to HKD 177,976,000[36]
深圳控股(00604) - 2024 - 年度业绩