Financial Performance - The company reported total revenue of HKD 1,219,113,000 for the fiscal year 2024, a decrease of 8.4% compared to HKD 1,331,456,000 in 2023[5] - Gross profit for the year was HKD 694,981,000, reflecting a decline of 8.4% from HKD 758,515,000 in the previous year[5] - Operating profit decreased by 20.9% to HKD 80,501,000 from HKD 101,774,000 year-on-year[5] - Net profit for the year was HKD 93,106,000, down 19.8% from HKD 116,164,000 in 2023[5] - Basic and diluted earnings per share fell to HKD 9.56, a decrease of 19.5% compared to HKD 11.87 in the prior year[5] - The company declared a total dividend of HKD 2.0 per share, down 73.3% from HKD 7.5 per share in 2023[5] Cash and Financial Health - Cash and bank balances at the end of the fiscal year were approximately HKD 1,051,846,000, a decrease of 3.4% from HKD 1,088,801,000[6] - The current ratio improved to 5.7 from 5.1 in the previous year, indicating better short-term financial health[6] - The company has no bank loans or overdrafts as of December 31, 2024, maintaining a zero debt ratio[6] Sales and Revenue Breakdown - Sales in the apparel and real estate sectors decreased by 6% and 47% respectively compared to the previous year[17] - Overall revenue from the domestic clothing business was HKD 863,541,000, a decline of approximately 6% year-on-year, with a 3% drop when calculated in RMB[28] - The group's e-commerce sales also faced a decline, with RMB sales down about 6% year-on-year, accounting for approximately 28% of domestic clothing sales[29] Property and Investment Performance - The total value of investment properties at year-end was approximately HKD 2,604,529,000, down from HKD 2,686,658,000 last year[33] - Rental and property management fee income for the year was HKD 146,003,000, a decrease of about 3% compared to last year[33] - The group recorded a fair value loss on investment properties of HKD 27,362,000, down 42% from last year's loss of HKD 47,066,000[22] Market Outlook and Strategy - The company anticipates that the domestic market conditions will remain challenging in the short term, with an unfavorable outlook for 2025[36] - The company aims to enhance product quality and optimize sales channels for its domestic apparel business, with cautious initial responses from agents for the upcoming autumn/winter product showcase[37] - The company plans to continue improving rental conditions and reduce vacancies in its properties while selling remaining units in Meixian "Jinli Lai Garden" based on actual market conditions[37] Environmental, Social, and Governance (ESG) Initiatives - The group is committed to environmental, social, and governance (ESG) performance, with annual updates provided in their ESG report[55] - The board emphasizes the importance of environmental, social, and governance (ESG) performance for long-term business success and stakeholder well-being[63] - The company has conducted a climate resilience assessment to identify areas for improvement and has developed a comprehensive strategy to address climate-related risks and opportunities[64] - The company aims to strengthen its climate-related initiatives to effectively adapt to climate change and mitigate its impacts[64] Employee and Workplace Policies - The company has implemented various training programs to support employee skill development and professional growth[104] - The overall employee turnover rate increased to 25% in 2024 from 21% in 2023[98] - The company provides comprehensive medical insurance for full-time employees, including outpatient services and annual health check-ups[102] Community Engagement and Contributions - The group donated HKD 2,824,000 to various community projects in mainland China and Hong Kong during the reporting period, reflecting its commitment to positive social impact[147] - In 2024, the group donated over 39,000 pieces of clothing and more than 200 pairs of shoes to impoverished communities as part of the "Caring Action" initiative[148] Corporate Governance - The board consists of five members, including one executive director and three independent non-executive directors, ensuring diverse expertise[165] - The company has a clear policy to prevent bribery and corruption, with two corruption lawsuits filed and resolved during the reporting period[157] - The company has established a nomination committee to ensure appropriate professional knowledge and maintain a sufficient number of independent directors[179]

Financial Performance - Revenue for the year ended December 31, 2024, increased by 8.9% to RMB 91.9 million from RMB 84.4 million in 2023[12] - Net loss for the year was RMB 36.0 million, an improvement from a net loss of RMB 49.3 million in 2023[13] - Total assets decreased to RMB 137.5 million in 2024 from RMB 165.7 million in 2023, representing a decline of 17%[10] - The company recorded a gross profit of RMB 6.5 million, down from RMB 21.2 million in 2023, indicating a significant decrease in gross margin[9] - Basic and diluted loss per share improved to RMB 0.37 in 2024 from RMB 0.73 in 2023[13] - Total liabilities decreased to RMB 95.1 million in 2024 from RMB 107.5 million in 2023, a reduction of approximately 11.5%[10] - The gross profit margin decreased to 7.1% from 25.1% for the year ended December 31, 2023, primarily due to changes in the product mix and inventory impairment losses[29] Revenue Sources - Revenue from health-related products accounted for 49.1% of total revenue, significantly up from 23.4% in the previous year[21] - Direct sales from consignment stores decreased by 20.9% to RMB 14.4 million, attributed to reduced consumer spending amid economic challenges[24] - Sales revenue from television platforms dropped by 76.2% to RMB 3.5 million, reflecting decreased consumer expenditure through this channel[26] - Revenue from online platforms fell by 64.9% to RMB 7.9 million, mainly due to poor economic conditions affecting consumer spending[27] - Revenue from physical sales locations surged by 148.7% to RMB 65.4 million, driven by the launch of health-related products[28] Cost Management - The company reported a decrease in sales costs to RMB 85.4 million in 2024 from RMB 63.2 million in 2023, reflecting a strategic focus on cost management[9] - Administrative expenses decreased by 22.9% to RMB 14.5 million, primarily due to cost control measures[34] - Research and development expenses decreased by 14.5% to RMB 5.9 million from RMB 6.9 million for the year ended December 31, 2023, primarily due to cost control measures[35] - Financial costs decreased by 45.5% to RMB 4.2 million from RMB 7.7 million for the year ended December 31, 2023, mainly due to the repayment of a loan in July 2024[37] Corporate Governance - The company is committed to establishing good corporate governance practices to enhance transparency and accountability[81] - The board focuses on internal controls and fair disclosure to ensure compliance with legal and business standards[81] - The company aims to create more value for shareholders through effective corporate governance[81] - The company appointed Mr. Zhao Jie as the Executive Director and Chairman on August 1, 2024, ensuring compliance with the corporate governance code regarding the separation of roles[83] - The board has established three committees to assist in fulfilling its responsibilities and promoting effective management[97] ESG and Sustainability - The environmental, social, and governance (ESG) report covers the group's performance from January 1, 2024, to December 31, 2024[153] - The report adheres to the guidelines set by the Hong Kong Stock Exchange for ESG reporting, ensuring the relevance and importance of key performance indicators[154] - Key environmental issues identified include greenhouse gas emissions, energy consumption, and waste management, which are prioritized for monitoring and resolution[163] - The company generated a total of 107 tons of greenhouse gas emissions during the reporting period, a decrease from 168.18 tons in 2023, resulting in an emissions density of 1.55 tons of CO2 per employee compared to 0.82 tons in 2023[174] - The company has set a target to reduce greenhouse gas emissions by 5% by 2027, based on the 2022 baseline[177] Employee and Labor Relations - The total number of full-time employees decreased to 69 as of December 31, 2024, down from 205 as of December 31, 2023[195] - Employee turnover rates for males increased to 35.3% in 2024 from 33.8% in 2023, while female turnover rates rose to 11.5% from 6.0%[196] - The company complies with Chinese labor laws and has not faced any significant disputes or operational disruptions due to labor issues during the reporting period[200] - The company provides social insurance for employees, including retirement, medical, and unemployment benefits, in accordance with applicable Chinese laws[200] Strategic Initiatives - The company plans to establish a joint venture with Shanghai Yougu Health Technology Co., Ltd. to expand into the health industry, focusing on biomedicine and AI technology[15] - The company is exploring potential opportunities to diversify its business segments and create value for shareholders[15] - The group completed a placement of 42,310,000 shares at a price of HKD 0.52 per share, raising approximately HKD 21.0 million, with HKD 20.0 million allocated for repaying other borrowings[63]

Financial Performance - The company's revenue for 2024 reached RMB 2,965,973 thousand, representing a 9.7% increase from RMB 2,704,412 thousand in 2023[30] - Gross profit decreased by 5.4% to RMB 706,407 thousand, with a gross margin of 23.8%, down from 27.6% in the previous year[30] - Net profit for the year increased by 12.0% to RMB 384,048 thousand, resulting in a net profit margin of 12.9%[30] - Total revenue for property management services was RMB 2,058.57 million, an increase from RMB 1,574.89 million in the previous year[56] - Revenue from residential properties amounted to RMB 1,432.85 million, accounting for 69.6% of total revenue, while non-residential properties generated RMB 625.72 million, making up 30.4%[56] - Revenue from non-owner value-added services decreased by approximately 35.7% year-on-year to about RMB 324.7 million, accounting for 10.9% of total revenue[65] - Community value-added services revenue decreased by approximately 6.7% year-on-year to about RMB 582.7 million, accounting for 19.7% of total revenue[67] - The total revenue for the group increased by 9.7% from RMB 2,704.4 million in 2023 to RMB 2,965.9 million in 2024[73] Assets and Liabilities - Total assets grew by 19.8% to RMB 4,330,460 thousand, while total equity increased by 12.4% to RMB 1,761,792 thousand[31] - Cash resources increased by 11.9% to RMB 1,403,692 thousand, indicating improved liquidity[31] - Trade receivables from third parties increased from approximately RMB 566.9 million as of December 31, 2023, to approximately RMB 821.7 million as of December 31, 2024, primarily due to business expansion and increased managed building area[91] - The impairment provision for trade receivables increased from approximately RMB 28.0 million as of December 31, 2023, to approximately RMB 66.1 million as of December 31, 2024, an increase of about RMB 38.1 million[91] - Total prepaid expenses, other receivables, and other assets increased from approximately RMB 821.4 million as of December 31, 2023, to approximately RMB 992.9 million as of December 31, 2024, mainly due to increased prepaid energy costs and rental payments[92] - Trade payables and notes payable rose from approximately RMB 597.3 million as of December 31, 2023, to approximately RMB 678.1 million as of December 31, 2024, driven by business expansion and increased procurement of services[93] Operational Expansion - The company signed a 100% equity acquisition agreement for Runwu Jiaye, expanding its business scope[17] - The company managed a total contracted area of approximately 134.3 million square meters across 595 properties in 71 cities[12] - Over 95% of new contracts signed in 2024 were located in first and second-tier cities, with over 60% in first-tier cities[46] - The managed building area was approximately 100.9 million square meters, reflecting a growth of about 19.8% year-over-year[56] - The company has established partnerships with governments in 10 cities, providing urban operation services over an area of approximately 117.1 square kilometers[60] - The company aims to continue expanding its managed scale and enhancing local urban density through strategic market penetration[58] Strategic Initiatives - The company plans to enhance its community value-added services, including real estate brokerage and community life services[12] - The company aims to maintain its industry-leading position by focusing on service quality, differentiated service products, and effective corporate governance[49] - The company plans to continue its "1245" strategy to navigate economic fluctuations and enhance service capabilities[49] - The company has implemented 9 major digital core strategic projects to enhance operational efficiency and customer service responsiveness[47] - The company is actively expanding its client base, successfully signing contracts with major clients such as CapitaLand and Yili Group[46] Human Resources and Talent Development - Employee costs totaled approximately RMB 550 million for the year ended December 31, 2024, compared to RMB 530 million in 2023, reflecting a year-on-year increase[105] - The company employed 2,670 full-time employees as of December 31, 2024, up from 2,098 full-time employees as of December 31, 2023[104] - The company has implemented a differentiated incentive plan based on employee performance and contribution, aiming to stimulate employee engagement[105] - The company is committed to continuous talent pipeline development, ensuring stable talent supply and supporting rapid employee growth[106] - The company has established a comprehensive training system to enhance employee capabilities across various business areas and development stages[105] Corporate Governance - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors, with a diverse age range from 38 to 71 years[148] - The company has achieved its gender diversity target on the board, with two female directors and six male directors, and continues to promote gender diversity at all levels[149] - The board has established a mechanism to ensure independent opinions and information are available to all directors, with the company covering the costs of independent professional advice when needed[154] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, focusing on effective internal controls and transparency to enhance shareholder confidence[141] - The board is responsible for the overall strategy, internal controls, and risk management systems of the group, ensuring effective financial management and operational oversight[145] Sustainability and ESG - In 2024, the company received 5 awards in the ESG field, highlighting its commitment to sustainable development[39] - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2026[140] - ESG management is a key component of the company's long-term strategy, focusing on sustainable value creation for customers, shareholders, and society[71] - The Strategic and ESG Committee is responsible for formulating the company's development strategy and regularly reviewing its ESG vision, goals, strategies, and policies[180] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 12%[140] - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on enhancing user experience[140] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[140] - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[140]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported interest and financing advisory service revenue of HKD 101,595,000, a decrease of 22.7% compared to HKD 131,473,000 in 2023[7] - The company achieved a profit attributable to owners of HKD 41,232,000, a significant turnaround from a loss of HKD 159,972,000 in the previous year, representing a 125.8% improvement[7] - Basic earnings per share increased to HKD 0.20 from a loss of HKD 0.79, marking a 125.3% change[7] - The total loan amount for the company was approximately HKD 998,071,000, reflecting a year-on-year decline of about 16.3%[15] - The impairment loss provision for receivables was approximately HKD 27,814,000, a substantial decrease of 84.9% compared to the previous year[15] - Interest and fees decreased by approximately 56.4% to about HKD 29,434,000 from HKD 67,449,000 in the previous year due to a reduction in overall borrowings[25] - The company reported a net profit attributable to owners of approximately HKD 41,232,000, a turnaround from a loss of HKD 159,972,000 in the previous year, primarily due to the settlement of unauthorized loans and guarantees, resulting in a reversal of liabilities totaling approximately HKD 170,311,000[30] - General and administrative expenses increased by 11.9% to approximately HKD 122,933,000, with service fees related to settlements amounting to approximately HKD 24,906,000; excluding these fees, expenses decreased by 10.8% to approximately HKD 98,027,000[29] Risk Management - The company will continue to focus on risk management to ensure long-term stability and development amid challenging market conditions[15] - The overall credit quality and mortgage loan balance remained within a reasonable range despite market adjustments[11] - The company actively reviews and manages its capital structure to ensure sustainable operations and reasonable financing costs[32] - The company is exposed to foreign exchange risk due to its assets and liabilities being primarily denominated in RMB and HKD, with approximately HKD 505,151,000 in unauthorized loans and HKD 260,325,000 in cash equivalents subject to currency fluctuations[43] - The board highlighted various risks including market risk, liquidity risk, and credit risk, emphasizing a comprehensive risk management framework to address these challenges[59][60][61][62] Corporate Governance - The company has a commitment to maintaining high standards of corporate governance, with independent directors actively participating in key committees[49] - The board consists of five members, including one executive director and four independent non-executive directors[125] - The company has adopted the corporate governance code as a benchmark for its governance practices[116] - The independent non-executive directors confirmed their independence in accordance with the listing rules[127] - The board is responsible for leading and monitoring the company's affairs and ensuring effective internal controls and risk management systems[130] - The company has established four committees: audit committee, remuneration committee, nomination committee, and business risk committee[136] - The company provides training for directors on corporate governance and related topics[135] - The company has established a whistleblowing policy to handle any criminal cases, which will be reported to the whistleblowing review committee or directly to the board[184] Strategic Focus - The company plans to optimize product structure and enhance service levels in the micro-loan and mortgage loan sectors to better capture industry growth opportunities[12] - The company aims to create long-term, stable returns for shareholders and stakeholders by strengthening asset structure and risk management[12] - The company expects to benefit from the economic development in mainland China by 2025, despite ongoing challenges in the global and domestic economy[17] - The company aims to restore dividend payments to shareholders as soon as sustainable profitability is achieved[17] - The company is focused on expanding its capital market operations and investor relations, as indicated by the appointment of a dedicated investment director[53] Employee and Management - The company has a strong management team with over 20 years of experience in the banking sector, including Zhang Min's extensive background in financial services[48] - The financial management team, led by the CFO, has over 25 years of experience in finance and accounting, ensuring robust financial oversight[53] - The total employee costs for the fiscal year were approximately HKD 49,424,000, reflecting a decrease of about 8.0% compared to the previous year[38] - The employee compensation policy is based on qualifications, industry expertise, and company performance, with potential discretionary bonuses and stock options[76] Shareholder Information - The company has a total of 115,689,012 ordinary shares, with major shareholders holding 55.28% of the issued share capital[91] - Zhang Xiaolin holds 86,003,712 shares and has a spouse's interest in 29,685,300 shares, while Lu Yun holds 25,365,300 shares and has a spouse's interest in 86,003,712 shares[92] - The company did not recommend any final dividends for the fiscal year 2023, indicating a focus on retaining earnings for future growth[67] - The board of directors may propose and/or declare dividends based on the company's financial condition, subject to shareholder approval[194] Environmental, Social, and Governance (ESG) - The company emphasizes sustainable development as a key to ongoing success and integrates this concept into its business strategy[196] - The board meets at least once a year to discuss and formulate overall environmental, social, and governance (ESG) policies and assess potential impacts and risks[197] - A working group composed of employees from relevant departments systematically manages the company's ESG matters and reports to the board at least annually[198] - The ESG report covers business activities in Beijing, Chengdu, Shenzhen, and Hong Kong, with operations in Chongqing terminated since 2023 due to business restructuring[200]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year 2024, representing a 15% growth compared to the previous year[3]. - The company's gross profit for 2024 reached RMB 6,713,948, an increase of 3.75% compared to RMB 6,471,580 in 2023[66]. - Net profit attributable to shareholders for 2024 was RMB 5,234,897, reflecting a growth of 6.31% from RMB 4,923,322 in 2023[66]. - The total assets of the company as of December 31, 2024, amounted to RMB 62,749,753, up from RMB 60,245,861 in 2023, indicating a growth of 4.15%[68]. - The company's debt-to-asset ratio improved to 25.43% in 2024 from 26.1% in 2023, demonstrating better financial stability[68]. - The company's operating revenue for 2024 was RMB 18.941 billion, an increase of RMB 768 million or 4.2% compared to the previous year, primarily driven by increased export container business[89]. - The net profit attributable to shareholders for 2024 was RMB 5.235 billion, reflecting a year-on-year growth of 6.3%[90]. - The group’s gross profit for 2024 was RMB 6.714 billion, an increase of RMB 242 million or 3.7% from the previous year[90]. User Engagement and Market Expansion - User data showed a 20% increase in active users, reaching 5 million by the end of 2024, indicating strong market engagement[3]. - The company provided a positive outlook for 2025, projecting a revenue growth of 10% to 1.32 billion RMB, driven by new product launches and market expansion strategies[3]. - The company plans to expand its market presence by entering three new regional markets in Asia by the end of 2025[3]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[15]. Product Development and Innovation - New product development initiatives are underway, with an investment of 200 million RMB allocated for R&D in innovative logistics solutions[3]. - Research and development investments increased by 30%, focusing on innovative logistics solutions[15]. - New product launches are expected to contribute an additional 200 million RMB in revenue over the next year[15]. Strategic Partnerships and Acquisitions - A strategic acquisition was announced, with the company set to acquire a logistics firm for 300 million RMB, expected to enhance operational capabilities[3]. - The company has established a new partnership with a major shipping line, projected to increase shipping capacity by 25%[3]. - A strategic partnership with a leading technology firm is anticipated to improve operational efficiency by 15%[15]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 500 million RMB allocated for this purpose[15]. Sustainability and Environmental Initiatives - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 15% over the next three years[5]. - The group implemented environmental protection measures, including the construction of 2 high-voltage shore power facilities and 4 battery swap stations, contributing to carbon emission reduction[186]. - The company launched a new carbon footprint accounting service for containers, becoming the first port in China to offer this service[52]. Operational Capacity and Infrastructure - The average single crane operating efficiency at the fully automated container terminal reached 60.6 TEU/hour, setting a new world record for the eleventh time[62]. - The company added 2 new berths in 2024, bringing the total to 114 berths, enhancing its operational capacity[66]. - The completion of the new oil products terminal at Dongjiakou Port added 2 new berths with an annual design throughput capacity of 9.95 million tons[61]. - The company achieved a record of 850 million tons in annual turnover capacity with the new oil storage facility, enhancing its operational capabilities[36]. - The group completed 2.52 million tons of dry bulk cargo throughput, a year-on-year increase of 3.5%, while liquid bulk cargo throughput decreased by 8.0% to 10.2 million tons[82]. Financial Strategy and Governance - The board has approved a new financial strategy to enhance liquidity, including a 200 million RMB credit facility[15]. - The company plans to distribute 45% of the distributable profits for the fiscal year 2024 as dividends, totaling RMB 2.038 billion, which represents about 39% of the net profit attributable to shareholders[173]. - The company has adhered to all provisions of the Corporate Governance Code throughout the fiscal year ending December 31, 2024[176]. Workforce and Training - The company employed 3,071 employees, with a total of 9,552 employees across the group, of which approximately 14.7% were female[146]. - The group trained 351 employees to obtain various national professional technical titles in 2024, enhancing the skill level of its workforce[189]. - The group conducted a total of 110 offline training sessions and achieved a 100% employee learning coverage rate through online training in 2024[189]. Risk Management and Market Challenges - The company is exposed to risks related to macroeconomic fluctuations, which can significantly impact its operations and performance[192]. - The group relies on the economic development of its main hinterland regions, including Shandong and Jiangsu, which is crucial for its growth[193]. - The company's main revenue comes from port cargo handling and related services, making it vulnerable to changes in port fee regulations[194]. - The group faces competition from Shandong Port Group, which may lead to operational changes and affect its business performance[195].

Economic Environment and Challenges - In FY2024, the Group faced challenges such as a sluggish global economic recovery and intensified geopolitical tensions, impacting traditional cross-border logistics orders[13]. - The decrease in gross profit was attributed to challenging macroeconomic conditions and price pressures in the air freight and international express business[36][40]. - The Group's management remains cautiously optimistic about future economic development based on various factors despite uncertainties in the global market[75]. - Global economic growth is projected to be 3.3% in 2025 and 2026 according to the IMF, while the World Bank forecasts a growth of 2.7% during the same period, indicating a cautious outlook due to geopolitical uncertainties[75][76]. - The overall trend of China's economic recovery is expected to remain unchanged despite increasing external uncertainties[82]. Strategic Direction and International Expansion - The Group's strategic direction for FY2024 emphasized "going global," marking the year as the inaugural phase of its comprehensive international expansion[14]. - The Group upgraded its international product systems to cover eight major areas, enhancing its core competitiveness and integrated international supply chain logistics capabilities[15]. - The Group improved its international talent cultivation and expanded its service network globally, enhancing customs service capabilities at major ports[19]. - The Group's goal is to become a comprehensive international express logistics supply chain integrator, focusing on customer experience and integrated development of its services[20]. - The Company will continue to deepen its "going global" strategy, focusing on international express delivery, supply chain, and freight forwarding businesses[24]. - The Company aims to enhance its global logistics network, focusing on building a "backbone + mesh" network structure to achieve global connectivity[85]. Financial Performance - The company recorded a revenue of approximately HK$5,322.5 million during FY2024, representing an increase of approximately 0.6% from FY2023[35]. - Gross profit decreased by approximately 23.0% to approximately HK$370.5 million in FY2024, with a gross profit margin of approximately 7.0%[35][39]. - The company incurred a net loss of approximately HK$42.0 million in FY2024, compared to a net profit of approximately HK$96.5 million in FY2023[35][39]. - The air freight forwarding business accounted for about 61.5% of total revenue in FY2024, with revenue increasing by about 24.3% to approximately HK$3,272.7 million[43][45]. - The ocean freight forwarding business contributed about 15.7% of total revenue in FY2024, with revenue increasing by about 28.9% to approximately HK$834.8 million[44][46]. - International express and parcel services revenue decreased by 42.4% to approximately HK$1,039.1 million in FY2024, down from HK$1,802.5 million in FY2023, representing about 19.5% of total revenue[49]. Digital Transformation and Technology - Digital transformation was a key focus, with the Group promoting the application of big data, cloud computing, and artificial intelligence in its operations[18]. - The Company aims to promote comprehensive digital transformation and intelligent evolution to improve service quality and customer experience in international express logistics[25]. - The Company plans to increase investment in technology R&D to transform into a logistics technology enterprise, improving management efficiency and customer communication[89]. - The Company is committed to advancing digital transformation by integrating emerging technologies such as AI, cloud computing, and big data into its operations[88]. Talent and Leadership - Mr. Zhou Jian was appointed as the CEO and Executive Director on March 28, 2024, bringing extensive experience from BEST Inc. and SF Holding[101]. - The company is focused on expanding its market presence and enhancing its operational efficiency through strategic leadership appointments[101][104]. - YTO Express aims to leverage its management team's extensive experience in logistics and financial sectors to drive growth and innovation[108]. - The board includes members with diverse backgrounds in finance, management, and technology, which supports the company's growth strategy[116]. Corporate Governance and Compliance - The company is actively involved in corporate governance, with a dedicated Corporate Governance Committee chaired by Mr. Pan Shuimiao[104]. - All independent non-executive Directors confirmed their independence annually, and the Company considers them to be independent[200]. - The Company has maintained compliance with the Model Code regarding Directors' interests and transactions[184]. - The Company has insurance coverage for Directors' and officers' liabilities, reviewed annually[190]. Market Outlook and Industry Trends - The Asia-Pacific region's demand for air freight increased by 14.5% year-on-year, accounting for 34.2% of the global air freight market[90]. - Global air freight volume is expected to reach 72.5 million tons in 2025, representing a year-on-year increase of 5.8%[90]. - The Company believes that China's foreign trade and exports are resilient and will improve in the long run, providing development space for international logistics and supply chain industries[81]. - The total import and export value of China's cross-border e-commerce is projected to grow from RMB 1.63 trillion in 2020 to RMB 2.63 trillion in 2024, representing a CAGR of 12.7%[93].

Financial Performance - The company reported revenue of approximately HKD 519.7 million for the fiscal year 2024, a decrease from HKD 961.3 million in 2023, primarily due to a decline in sales volume [6]. - The gross profit for the year was HKD 29.7 million, compared to a gross loss of HKD 35.6 million in the previous year, resulting in a gross margin of 5.7% [9]. - The company achieved a profit attributable to owners of approximately HKD 1.3 million, a significant turnaround from a loss of HKD 52.7 million in the prior year [12]. - Total assets decreased to HKD 407.3 million from HKD 478.1 million, while total liabilities significantly reduced to HKD 21.7 million from HKD 94.0 million [6]. - The company anticipates continued volatility in ICs and NAND flash wafer prices, impacting future revenue stability [8]. - Other losses included an additional provision of approximately HKD 60.4 million for loss contracts due to unexpected costs exceeding anticipated economic benefits [11]. - The company maintained a net asset value of HKD 385.6 million, slightly up from HKD 384.1 million in the previous year [6]. - The group anticipates growth opportunities in the electronic components industry driven by advanced technologies such as third-generation semiconductor materials, 5G, AI, and automotive electronics [13]. Asset and Liability Management - As of December 31, 2024, the current ratio is approximately 18.1 times, significantly up from 4.8 times in 2023 [14]. - Total assets as of December 31, 2024, are approximately HKD 407.3 million, down from HKD 478.1 million in 2023 [14]. - The group’s capital debt ratio is approximately 5.3% as of December 31, 2024, compared to 19.7% in 2023 [14]. - Inventory held as of December 31, 2024, is approximately HKD 188.8 million, a decrease from HKD 329.8 million in 2023 [15]. - Prepayments for inventory purchases amount to approximately HKD 70.6 million as of December 31, 2024, down from HKD 102.0 million in 2023 [16]. - Trade receivables as of December 31, 2024, are approximately HKD 98.7 million, with an expected credit loss provision of about HKD 0.3 million [18]. - Cash and cash equivalents are approximately HKD 23.3 million as of December 31, 2024, an increase from HKD 19.5 million in 2023 [19]. - The group has no borrowings as of December 31, 2024 [20]. Corporate Governance - The company has established a robust internal control system to ensure compliance and accountability, adhering to the corporate governance code as per the listing rules [40]. - The board consists of eight members, including three non-executive directors, two executive directors, and three independent non-executive directors, ensuring a balanced power structure [43]. - The company emphasizes a diverse board composition, considering various factors such as gender, age, ethnicity, and professional experience, to enhance governance effectiveness [48]. - The company has implemented an anti-corruption policy and reporting mechanism to promote ethical behavior and compliance among employees [41]. - The board has mechanisms in place to ensure independent viewpoints are considered, including encouraging active participation from independent non-executive directors [47]. - The company is currently seeking a suitable candidate for the CEO position, which has been vacant since July 18, 2019 [46]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the listing rules [42]. - The board conducts annual reviews of its diversity policy and its effectiveness in achieving measurable goals [48]. Employee Relations and Compensation - The total salary and related costs for the 16 employees as of December 31, 2024, amount to approximately HKD 6.6 million [30]. - The company has established an annual review system to assess employee performance, which forms the basis for salary increases, bonuses, and promotions [30]. - The board believes in maintaining a good relationship with employees [30]. - The company has adopted a share option scheme to reward directors and eligible employees based on individual performance [30]. - The company has maintained a zero-tolerance policy towards any form of discrimination and has not reported any incidents of workplace discrimination or harassment this year [190]. - The company offers competitive and fair compensation and benefits to attract high-quality talent, with regular salary reviews to recognize employee contributions [190]. Risk Management - The company has established a risk management and internal control system to minimize procurement price risks and protect assets [80]. - The board believes the risk management and internal control systems are adequate and effective as of December 31, 2024 [82]. - The main risks faced by the company include credit risk, currency risk, and liquidity risk [160]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to environmental responsibility by managing its operational impact and improving resource efficiency [153]. - The company has established an Environmental, Social, and Governance (ESG) working group to assess and manage ESG-related risks [166]. - The ESG report emphasizes the importance of stakeholder engagement and has conducted a materiality assessment to identify key concerns [167][171]. - The company has implemented an environmental strategy focused on "saving, reusing, and recycling" to enhance energy efficiency and reduce carbon emissions [179]. - The company has established a collection area for recyclable materials, including paper, plastic, and metal, to support waste recycling efforts [175]. - The company is committed to complying with all relevant environmental laws and regulations applicable to its operations [172]. - The company has not recorded any significant non-compliance issues with applicable environmental protection laws and regulations as of December 31, 2024 [186]. Shareholder Relations - The board is committed to effective communication with shareholders to enhance investor relations and ensure timely disclosure of information [88]. - Shareholders holding at least 10% of the paid-up capital can request the board to convene a special general meeting [89]. - The company has updated its articles of association to comply with the latest regulatory requirements regarding paperless listing systems [93]. - The company reported total distributable reserves of approximately HKD 262,991,000 as of December 31, 2024, compared to HKD 233,372,000 in 2023, reflecting an increase of about 12.5% [107]. Compliance and Legal Matters - The company has adhered to relevant laws and regulations that significantly impact its business operations [151]. - The company has implemented appropriate internal controls and quality control measures to ensure compliance with the Sale of Goods Ordinance [156]. - The group complies with all applicable laws and regulations related to product responsibility, with no known violations during the year [199]. - The group has adopted high-standard security and confidentiality measures to protect stakeholders' personal data [200].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 24,838,267,923.53, representing a 5.76% increase compared to RMB 23,486,119,294.48 in the same period last year[6] - Net profit attributable to shareholders for Q1 2025 was RMB 1,127,395,765.82, up 14.89% from RMB 981,246,783.99 year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,007,755,232.51, reflecting a 20.27% increase from RMB 837,889,225.17 in the previous year[6] - Basic earnings per share for Q1 2025 were RMB 0.83, a 15.28% increase from RMB 0.72 in the previous year[6] - Investment income for the period was RMB 236,083,008.03, a 39.60% increase compared to RMB 169,117,662.26 in the previous year[9] Cash Flow and Assets - The net cash flow from operating activities decreased by 58.30% to RMB 65,075,820.08, down from RMB 156,049,168.70 in the same period last year[6] - Total assets at the end of Q1 2025 were RMB 72,935,577,259.81, an increase of 4.64% from RMB 69,701,939,817.33 at the end of the previous year[6] - Shareholders' equity attributable to the company at the end of Q1 2025 was RMB 16,564,755,844.17, up 7.18% from RMB 15,455,626,606.63 at the end of the previous year[6] Shareholder Information - The total number of common shareholders at the end of the reporting period is 32,391[11] - Qingdao Hisense Air Conditioning Co., Ltd. holds 37.28% of the total issued share capital, amounting to 516,758,670 shares[11] - Hong Kong Central Clearing (Agent) Co., Ltd. holds 33.11% of the total issued share capital, amounting to 458,962,527 shares[11] - The top ten shareholders account for a significant portion of the company's equity, with the largest shareholder holding nearly 70% combined[11] - The company has a structured employee stock ownership plan, with significant holdings from various employee plans[11] - The total shares held by the top ten unrestricted shareholders include 516,758,670 shares from Qingdao Hisense Air Conditioning Co., Ltd.[11] - Hong Kong Central Clearing (Agent) Co., Ltd. represents multiple accounts and holds 12,445,200 shares, which is 8.98% of the total shares[14] Other Financial Metrics - The company reported a significant increase in trading financial liabilities, which rose by 540.12% to RMB 22,742,352.87 due to fluctuations in the fair value of forward foreign exchange contracts[9] - The company experienced a 63.01% decrease in non-operating income, which fell to RMB 28,589,505.45 from RMB 77,287,462.27 in the previous year[9] - The company has confirmed that there are no other shareholders with relationships that would classify them as acting in concert under the relevant regulations[12] - The company has no related party transactions among the top shareholders, except for the relationship between Qingdao Hisense Air Conditioning Co., Ltd. and Hisense (Hong Kong) Co., Ltd.[12] Reporting and Communication - The company plans to release its Q1 2025 report in both Chinese and English, with Chinese taking precedence in case of discrepancies[13]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was RMB 846.5 million, a decrease of 9.3% compared to RMB 933.1 million for the fiscal year ending December 31, 2023[14]. - Revenue from medical services for the fiscal year ending December 31, 2024, was RMB 837.3 million, down from RMB 922.8 million in the previous year, also reflecting a 9.3% decline[14]. - Total profit attributable to the company’s owners decreased to RMB 47.4 million for the year ending December 31, 2024, down from RMB 84.2 million in 2023[17]. - Gross profit from medical services was RMB 346.5 million in 2024, with a gross margin of 41.4%, down from RMB 407.8 million and 44.2% in 2023[23]. - The gross profit for 2024 was RMB 345.0 million, a decrease of 15.3% compared to the previous year, with a gross profit margin dropping from 43.6% to 40.8%[28]. - The company recorded a net profit attributable to shareholders of RMB 47.4 million in 2024, down from RMB 84.2 million in 2023[38]. Revenue Breakdown - Pediatric services accounted for 87.9% of total medical revenue, while obstetrics and gynecology services contributed 12.1% for the fiscal year ending December 31, 2024[14]. - Pediatric service revenue fell to RMB 735.8 million for the fiscal year ending December 31, 2024, a 10.1% decrease from RMB 818.8 million in the previous year[15]. - Revenue from obstetrics and gynecology services decreased by 2.4% year-on-year to RMB 101.5 million for the year ending December 31, 2024, from RMB 104.0 million for the year ending December 31, 2023[16]. - The group’s total revenue from medical services was RMB 837.3 million for the year ending December 31, 2024, compared to RMB 922.8 million in 2023, reflecting a decline[22]. Patient Visits and Services - The number of outpatient visits decreased by 17.2% to 279,396 in the fiscal year 2024, with pediatric outpatient visits dropping by 17.8% to 237,986[11]. - The company served approximately 290,000 patient visits in the fiscal year 2024, with over 70% of pediatric medical revenue coming from family doctor members and commercial insurance direct payment clients[10]. - Outpatient medical service revenue for pediatric care decreased by 16.5% to RMB 429.4 million in the fiscal year 2024[15]. - Inpatient visits decreased by 0.9% year-on-year to 1,650, while inpatient medical service revenue increased by 5.3% to RMB 49.7 million[16]. Strategic Initiatives - The company aims to expand its pediatric and obstetric services, focusing on innovative medical service offerings such as growth management packages and specialized pediatric care[11]. - The company plans to leverage national policy opportunities to continue expanding its business and enhance integrated medical services for families[12]. - The group plans to enhance brand promotion among high-income clients and expand pediatric health management in key cities by 2025[20]. - The implementation of DRG/DIP payment reform is expected to increase the demand for high-quality medical services, benefiting private healthcare institutions[20]. Financial Management and Investments - Research and development expenses decreased by 30.5% to RMB 4.1 million in 2024, down from RMB 5.9 million in 2023[31]. - Financial income increased from RMB 2.9 million in 2023 to RMB 5.4 million in 2024, primarily due to an increase in interest income[35]. - Capital expenditures for 2024 amounted to RMB 21.8 million, significantly higher than RMB 10.7 million in 2023, mainly due to the purchase of advanced imaging equipment[46]. - The company has confirmed compliance with non-competition agreements by its controlling shareholders as of December 31, 2024[107]. Corporate Governance - The company has a comprehensive financial risk management policy outlined in its consolidated financial statements[80]. - The board consists of 11 members, including 3 independent non-executive directors, ensuring compliance with listing rules[156][159]. - The company has adhered to the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[154][158]. - The audit committee held 3 meetings in 2024 to review interim and annual financial performance and significant matters related to financial reporting[167]. Shareholder Information - The proposed final dividend for the year ending December 31, 2024, is HKD 0.0221 per share, totaling HKD 10,835,000, a decrease from HKD 0.0378 per share in 2023[58]. - Shareholders holding at least 10% of the paid-up capital can request a special meeting, which must be held within two months of the request[198]. - The company has maintained sufficient public float according to listing rules as of December 31, 2024[151]. Compliance and Risk Management - The company has implemented measures to strengthen internal control procedures regarding related party transactions to avoid future lapses in compliance[126]. - The company believes its risk management and internal control systems are effective and adequate[189]. - The company has implemented an anti-corruption policy to ensure management adheres to principles of honesty, integrity, and fairness, complying with applicable laws and regulations in China[191]. Employee and Management Information - The company has 1,255 employees as of December 31, 2024, with total employee compensation expenses amounting to RMB 345.4 million for the year, slightly down from RMB 345.8 million in 2023[57]. - The company has established a risk management and internal control system focusing on customer and employee safety, quality control, and general risk management[190]. - The company encourages all directors to participate in relevant training courses to enhance their knowledge and skills[164].

Financial Performance - The total revenue for the fiscal year ending December 31, 2024, increased by 141.8% to approximately HKD 468.5 million, up from HKD 193.8 million in the previous year[8]. - The company recorded a gross profit of approximately HKD 17.3 million, compared to a gross loss of HKD 7.2 million in the previous year[15]. - The net profit attributable to the company's owners for the year was approximately HKD 9.9 million, a significant recovery from a net loss of HKD 59.3 million in the previous year[15]. - Other income for the year was approximately HKD 3.8 million, representing an increase of 836.1% from HKD 0.4 million in the previous year[16]. - The company confirmed a net impairment reversal of approximately HKD 2.3 million, compared to an impairment loss of HKD 35.9 million in the previous year[18]. - The company recognized a profit of approximately HKD 1.3 million from its share of profits from two joint ventures in Hong Kong, compared to no profit in the previous year[17]. - The company reported a profit attributable to owners of approximately HKD 9.9 million, a significant recovery from a loss of HKD 59.3 million in the previous year[26]. - As of December 31, 2024, the company's cash and bank deposits decreased by approximately HKD 26.0 million to about HKD 32.6 million[27]. - The current ratio improved to 1.03 times from 0.98 times in the previous year, indicating better short-term financial health[29]. Business Strategy and Growth - The company has a contract reserve amounting to approximately HKD 435.6 million, which is expected to support its financial performance in the coming years[13]. - The company plans to explore various business and investment opportunities to enhance long-term growth potential, including potential asset sales and acquisitions[13]. - The company aims to leverage its expertise in real estate development and project management to expand its revenue sources[13]. Operational Efficiency - Administrative expenses decreased by approximately HKD 2.2 million or 13.6% to about HKD 14.3 million due to cost control measures implemented during the year[23]. - Financing costs increased by approximately 189.6% to about HKD 0.5 million due to higher interest on bank borrowings[24]. - Accounts receivable and contract assets from the top five customers amounted to approximately HKD 13.4 million, representing 36% of total receivables, a decrease from 55% in the previous year[22]. - The company recognized a net reversal of impairment of approximately HKD 3.1 million for trade receivables and contract assets, compared to an impairment loss of HKD 4.6 million in the previous year[22]. Corporate Governance - The board of directors consists of four members, including one executive director and three independent non-executive directors[43]. - The company has adopted a code of conduct for securities trading by directors, with no violations reported for the year ending December 31, 2024[42]. - The board held six meetings during the year, with all directors attending at least 2/2 or 6/6 meetings[54]. - The company has a diversity policy for board members, considering factors such as gender, age, and ethnicity[48]. - The nomination committee reviews the diversity policy annually to ensure its effectiveness[51]. - The chairman and CEO roles are separated to ensure clear division of responsibilities, with the current chairman also serving as CEO[45]. - The company has maintained compliance with all applicable corporate governance codes for the year ending December 31, 2024[46]. - The board's independent non-executive directors have been invited to join various committees, enhancing governance oversight[46]. - The company has arranged appropriate insurance to protect directors against legal actions arising from corporate activities[47]. - The board believes that a diverse membership enhances the quality of its performance and decision-making[49]. - The board is responsible for corporate governance functions, including policy formulation and compliance with legal regulations[57]. - Independent non-executive directors are appointed for a term of three years and must be re-elected according to the company's articles of association[59]. - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting standards and financial reporting regulations[67]. - The audit committee held three meetings during the year ending December 31, 2024, to review the audited annual results[69]. - All directors are encouraged to participate in continuous professional development to enhance their knowledge and skills[60]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee[66]. - The audit committee monitors the independence and effectiveness of external auditors[68]. - The company received annual independence confirmations from independent non-executive directors, affirming their independence[59]. - The board ensures that all necessary information is provided in a timely manner for informed decision-making[57]. - The company has a structured training program for newly appointed directors to familiarize them with governance policies and practices[60]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's overall environmental and social performance for the fiscal year ending December 31, 2024[97]. - The group emphasizes stakeholder engagement to create long-term value, involving employees, customers, investors, suppliers, and the community through various communication channels[98]. - The importance assessment identified key ESG issues, including emissions, resource consumption, waste management, employee welfare, and occupational health and safety[101]. - The group has implemented strict monitoring to ensure compliance with environmental regulations, reporting no significant non-compliance incidents related to emissions[104]. - The group is committed to using environmentally friendly practices, including the use of ultra-low sulfur diesel and approved non-road mobile machinery[105]. - The board of directors is responsible for managing ESG-related risks and continuously developing and evaluating the group's ESG policies[103]. - The group aims to balance operational needs with environmental protection to achieve sustainable development[106]. - The group encourages stakeholder feedback on its ESG policies and performance, providing contact information for suggestions[102]. - The group recognizes the importance of adhering to environmental laws and regulations while promoting efficient use of clean energy and reducing waste[110]. - Total greenhouse gas emissions increased to 451 tons of CO2 equivalent in 2024, up 147.8% from 182 tons in 2023[112]. - Direct emissions (Scope 1) rose to 18 tons of CO2 equivalent in 2024 from 5 tons in 2023[111]. - Indirect emissions (Scope 2) increased to 403 tons of CO2 equivalent in 2024 from 159 tons in 2023[111]. - Total waste generated increased to 1,866 tons in 2024 from 869 tons in 2023, with construction waste from landfills rising to 720 tons[116]. - Total electricity consumption surged to 402,695 kWh in 2024, compared to 158,885 kWh in 2023, reflecting a significant operational peak[121]. - Total water consumption increased to 7,388 cubic meters in 2024 from 1,603 cubic meters in 2023[121]. - The company implemented waste management measures to ensure all construction waste is managed and disposed of in an environmentally friendly manner[114]. - The company has not generated any hazardous waste during the reporting period[115]. - The environmental management system has been certified to comply with ISO 14001 standards[124]. - The company continues to monitor and reduce energy consumption to mitigate greenhouse gas emissions[125]. Employee Management - As of December 31, 2024, the total number of employees is 75, with 88% male and 12% female[130]. - The overall employee turnover rate is 25%, with male turnover at 23% and female turnover at 44%[131]. - The average training hours per employee are 37 for males and 28 for females, with a total of 258 hours for male general staff and 28 hours for female general staff[140]. - The company has implemented a competitive compensation and benefits system, adjusting salaries based on performance and qualifications[128]. - The company has adopted a mandatory provident fund plan, contributing 5% of all salary levels for retirement[128]. - The company has established an occupational safety management system compliant with ISO 45001 standards[136]. - There were 162 work-related lost days due to injuries in 2024, a decrease from 505 days in 2023[137]. - The company provides paid annual leave and public holidays in addition to statutory holidays[128]. - The company emphasizes equal opportunities in recruitment, adhering to anti-discrimination principles[128]. - The company conducts regular safety audits to ensure compliance with safety management regulations[133]. Supply Chain and Community Engagement - The number of major suppliers/subcontractors decreased from 148 in 2023 to 117 in 2024, with a significant reduction in Hong Kong from 147 to 93[144]. - The group has not identified any non-compliance cases related to child labor or forced labor as of December 31, 2024[141]. - The group has not received any major complaints regarding service quality or safety during the reporting period[145]. - The group maintains a zero-tolerance policy towards corruption and fraud, with no complaints received from government agencies regarding non-compliance with anti-corruption laws[147]. - The group actively participates in community welfare initiatives, including the Public Estate Basketball Programme, to support youth engagement[148]. - The group evaluates suppliers annually to ensure compliance with quality standards, including professional qualifications and financial status[142]. - The group has established policies to ensure service quality and safety, complying with relevant laws and regulations in Hong Kong[145]. - The group has not identified any non-compliance cases related to product responsibility as of December 31, 2024[146]. - The group emphasizes the importance of protecting intellectual property rights and conducts internal reviews of contracts with clients and suppliers[145]. - The group encourages employee participation in community welfare to better understand stakeholder needs and expectations[148]. Risk Management - The company has implemented policies to identify and mitigate significant climate-related issues affecting its operations[152]. - Employee turnover rates are categorized by gender, employment type, age group, and region, providing insights into workforce dynamics[154]. - The company reported a specific number of work-related fatalities and injury rates over the past three years, highlighting health and safety performance[155]. - Training programs are in place, with a percentage of employees trained categorized by gender and employee type, indicating commitment to employee development[156]. - The company has measures to prevent child and forced labor, ensuring compliance with relevant laws and regulations[155]. - The percentage of products recalled due to health and safety reasons is tracked, reflecting product responsibility[156]. - The company has established anti-corruption policies and reported the number of corruption lawsuits filed against it during the reporting period[158]. - Community investment focuses on areas such as education, health, and environmental issues, demonstrating corporate social responsibility[158]. - The company has a structured approach to managing supply chain risks, including environmental and social factors[155]. Leadership and Board Composition - The executive director has extensive experience in business development and strategic planning, contributing to the company's leadership[159]. - The company is primarily engaged in investment holding activities, with significant operations detailed in the consolidated financial statements[174]. - The board presented the report and audited consolidated financial statements for the year ending December 31, 2024[172]. - The company emphasizes risk management practices to effectively mitigate operational and financial risks[176]. - The company is committed to environmental sustainability, implementing measures to minimize its operational impact on the environment[177]. - The company values its employees as valuable assets and aims to attract and retain suitable personnel through competitive compensation packages[178]. - The company has a strong focus on compliance with relevant laws and regulations that significantly impact its business operations[175]. - The company has not had any directors serve on other listed companies in the past three years, indicating a focused leadership team[162][165][168]. - The company has a diverse board with members possessing extensive experience in real estate, finance, and legal sectors[161][163][166][167]. Shareholder Information - The company does not recommend the payment of any final dividend for the year ending December 31, 2024 (2023: none)[180]. - Revenue from the largest customer accounted for 31.0%, while the top five customers collectively contributed 95.5% of total revenue for the year ending December 31, 2024[195]. - The largest supplier accounted for 17.2% of service costs, with the top five suppliers together representing 57.4% of total service costs for the year ending December 31, 2024[195]. - The company has no distributable reserves available for distribution to shareholders as of December 31, 2024[192]. - The company has not purchased, sold, or redeemed any of its securities during the year ending December 31, 2024[191]. - The company will hold its annual general meeting on May 30, 2025, with a suspension of share transfer registration from May 27 to May 30, 2025[181]. - The company has adopted a share option scheme to recognize and reward contributions from directors and employees, with no options granted or agreed to be granted since its adoption[185]. - The maximum number of shares that can be issued under the share option scheme is capped at 10% of the total issued shares, which amounts to 13,320,000 shares[187]. - The company’s board of directors includes both executive and independent non-executive members, with recent changes in appointments[196]. - The company will regularly review and reassess its dividend policy and its effectiveness[179]. - Each executive and independent non-executive director has entered into service contracts with the company for an initial term of three years, which will be renewed unless terminated with at least three months' written notice[198]. - There are no significant transactions, arrangements, or contracts involving the company's directors or their related entities with substantial interests during the fiscal year ending December 31, 2024[199]. - The company's articles of association provide that each director is entitled to indemnification for losses or liabilities incurred in connection with their duties during their term[200].