Financial Performance - The company reported a significant increase in revenue, achieving a total of 500million,representinga206.20 billion for the year ended 31 December 2024, representing a decrease of approximately 3% compared to HK6.41billionin2023[19].−ProfitfortheyearamountedtoapproximatelyHK209 million, a decrease of approximately 21% from HK263millionin2023[19].−Grossprofitdecreasedby24569 million in 2024 from HK749millionin2023[17].−Basicearningspersharedecreasedby235,802,391,000, representing a decrease of approximately 1% compared to HK5,850,142,000in2023[52].−TheprofitattributabletoownersofthecompanyfortheyearendedDecember31,2024,wasapproximatelyHK200 million, a decrease from HK257millionfortheyearendedDecember31,2023,primarilyduetoareductioningrossprofit[70].UserEngagementandMarketExpansion−Userdatashowedariseinactiveusersto1.2million,upfrom1million,indicatinga2050 million in revenue, with a focus on innovative technology solutions[4]. Future Projections - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 15% to 575million[4].−TheGroupaimstodeepenitscoregassupplybusinessandimproverevenuefromitsmainoperationsin2025[39].−China′snaturalgasdemandisprojectedtoreach448.5billioncubicmetersin2025,reflectingayear−on−yearincreaseof6.230 million, to support new technology initiatives[4]. - The Group's subsidiary, Tianjin Bintou Xinzhi Technology Co., Ltd., obtained the qualification certification for National High-tech Enterprise, promoting R&D outcomes and sustainable development in the gas industry[33]. Gas Sales and Market Performance - In 2024, the Group's total gas sales reached a record high of 2.51 billion cubic metres, with piped natural gas sales increasing by 6% year-on-year to 1.71 billion cubic metres[23]. - The gas passing through service business saw a significant increase, with sales reaching 0.80 billion cubic metres, marking a year-on-year growth of 32%[23]. - The proportion of industrial and commercial customers in total gas sales exceeded 85%, indicating a strong customer structure advantage[23]. Financial Health and Liquidity - Current assets decreased by 40% to HK1.12billionin2024fromHK1.88 billion in 2023[18]. - The current ratio as of December 31, 2024, was approximately 0.37, indicating liquidity challenges[72]. - The Group experienced a net foreign exchange loss of approximately HK$27 million for the year ended December 31, 2024[80]. Corporate Governance and Board Structure - The Board comprises ten directors, including three executive directors and four independent non-executive directors[109]. - The Company is committed to promoting high-quality clean energy services and optimizing the upstream and downstream industrial chain[111]. - The Nomination Committee currently comprises four independent non-executive Directors and one executive Director, with Mr. IP Shing Hing as the Chairman[138]. Risk Management and Internal Control - The Audit Committee has focused on improving the risk management and internal control systems during the year ended December 31, 2024, ensuring compliance with relevant requirements[189]. - The Directors acknowledge their responsibility for the preparation and fair presentation of the consolidated financial statements for the year ended December 31, 2024[182]. - The internal control work in 2024 focused on improving compliance management systems and enhancing risk prevention and control measures[190]. Employee and Training Initiatives - As of December 31, 2024, the total number of male and female employees was 1,226 and 520 respectively, resulting in a male to female ratio of approximately 2:1[144]. - The Company provided comprehensive induction for newly appointed directors to ensure they understand their obligations[126]. - The Company organized four sessions of legal knowledge training and one session of compliance case training to enhance employees' compliance awareness[196].
