中彩网通控股(08071) - 2024 - 年度财报

Economic and Market Conditions - In 2024, the Group faced intensified global economic and geopolitical challenges, impacting businesses worldwide[19]. - The overall market environment remains challenging, necessitating continuous adjustments to business strategies[19]. - The Group expects significant growth in market demand for smart retail services and automotive peripheral products driven by advancements in generative artificial intelligence and the trade-in policy for consumer goods in the PRC[59]. Business Strategy and Operations - The Group strategically disposed of its overseas cloud services business to focus on domestic smart retail services and the newly developed automotive culture business, enhancing competitiveness[20]. - The Group will explore business opportunities in other smart retail systems and services beyond cloud solutions[20]. - The strategic adjustment to focus on domestic operations is aimed at laying a solid foundation for future growth[20]. - The Group will continue to monitor market development trends and formulate flexible business strategies to capture new opportunities[21]. - The Group resolved to sell its AWS cloud services business for a cash consideration of USD600,000, completing the disposal on 31 August 2024[28]. - The Group will continue to implement cost-saving measures and focus resources on businesses with growth potential while exploring new opportunities to maintain a competitive edge[59]. Financial Performance - For the year ended 31 December 2024, the Group's consolidated revenue amounted to approximately HK$29,109,000, representing a year-on-year increase of approximately 32$22,011,000 in 2023[37]. - The Group's smart retail business recorded total revenue of approximately HK$28,940,000 for the year ended 31 December 2024, an increase from approximately HK$22,011,000 in 2023, with an operating loss of approximately HK$3,438,000[31]. - The domestic cloud services business generated revenue of approximately HK$26,749,000 for the year ended 31 December 2024, compared to approximately HK$16,231,000 in 2023, with an operating loss of approximately HK$3,928,000[30]. - The discontinued AWS cloud services business recorded revenue of approximately HK$2,191,000 for the year ended 31 December 2024, down from approximately HK$5,780,000 in 2023, with an operating profit of approximately HK$490,000[30]. - The Group's automotive culture business, operational since 9 November 2023, recorded revenue of approximately HK$169,000 and an operating profit of approximately HK$2,000 by 31 December 2024[32]. - The Group's loss attributable to owners decreased by approximately 25$7,598,000 for the year ended 31 December 2024, compared to approximately HK$10,108,000 in 2023[39]. - The Group's discontinued operations, including the lottery and AWS cloud services businesses, achieved a profit attributable to owners of approximately HK$2,524,000 for the year ended 31 December 2024, compared to a loss of approximately HK$104,000 in 2023[38]. Assets and Liabilities - As of December 31, 2024, the Group's total assets were approximately HK$15,684,000, down from approximately HK$32,777,000 in 2023, while total liabilities decreased to approximately HK$5,458,000 from approximately HK$15,657,000[45]. - The Group's current ratio improved to approximately 3 as of December 31, 2024, compared to approximately 2 in 2023[51]. - The Group had no bank borrowings or facilities as of December 31, 2024, maintaining a gearing ratio of nil[46]. Employee and Director Information - The total staff cost, including total Director's remuneration, for the year ended December 31, 2024, was approximately HK$6,472,000, a decrease from approximately HK$11,162,000 in 2023[64]. - The annual Director's fee for Ms. Wu Shan has been changed to HK$512,000 effective from January 1, 2025[153]. - The company ensures that the remuneration of directors is monitored regularly to remain competitive and appropriate[159]. - The interests of directors and chief executives in the shares of associated corporations were disclosed as required by the Securities and Futures Ordinance[164]. Dividend Policy - A dividend policy was adopted by the Board to allow shareholders to participate in profits while preserving liquidity for future growth opportunities[87]. - The Board does not recommend paying any dividends for the year ended 31 December 2024, consistent with 2023, where no dividends were paid[89][93]. - As of 31 December 2024, the Company did not have any reserves available for distribution, similar to the situation in 2023[116][122]. - The Group regularly reviews its dividend policy to ensure it aligns with financial performance and shareholder interests[92][94]. Environmental Commitment - The Group's commitment to environmental protection is reflected in its efforts to reduce greenhouse gas emissions, with the Board satisfied with the performance during the year ended 31 December 2024[96][100]. - The Group's business activities complied with applicable environmental policies throughout the year ended 31 December 2024[97][101]. Audit and Compliance - The consolidated financial statements for the year ended December 31, 2024, were audited by Baker Tilly Hong Kong Limited[199]. - Baker Tilly Hong Kong Limited will retire as the auditor at the conclusion of the AGM on June 26, 2025, with Loyal Honour CPA Limited proposed as the new auditor[200]. - The Audit Committee reviewed the financial statements and accounting principles prior to recommending them to the Board for approval for the year ended 31 December 2024[104][110]. - The Company has complied with all disclosure requirements in accordance with the GEM Listing Rules[185]. Share Capital and Ownership - As of December 31, 2024, the total number of issued Shares was 4,686,048,381[1]. - The total number of shares held by substantial shareholders in 51 Credit Card is 1,834,963,213, accounting for 39.16% of the issued shares[175]. - Mr. Zuo Lei is a beneficial owner of 511,025,000 Shares, representing 10.91% of the total issued Shares[1]. - Tian Tu Capital Co., Ltd. and Tiantu Investments International Limited each hold approximately 7.79% of the total issued Shares, totaling 365,000,000 Shares[1]. - The largest customer accounted for 56% of the Group's total sales, while the five largest customers combined represented 86%[140]. - The largest supplier contributed to 36% of the Group's total purchases, and the five largest suppliers combined accounted for 68%[140].