Financial Performance - For the fiscal year ending June 30, 2024, Paladin Limited reported total revenue of HKD 22,733,000, an increase of 23.5% from HKD 18,386,000 in the previous year[2] - The gross profit margin decreased to HKD 13,591,000, down from HKD 10,093,000, reflecting a cost of sales of HKD 9,142,000 compared to HKD 8,293,000 last year[2] - The operating loss for the year was HKD 127,453,000, significantly higher than the previous year's loss of HKD 37,567,000, indicating a deterioration in operational performance[2] - The net loss for the year was HKD 133,409,000, compared to a net loss of HKD 41,764,000 in the prior year, representing an increase in losses of 219%[2] - Total comprehensive loss for the year amounted to HKD 135,867,000, compared to HKD 42,169,000 in the previous year, reflecting a substantial increase in overall losses[3] - Basic and diluted loss per share for the year was HKD 9.29, compared to HKD 2.66 in the previous year, indicating a significant increase in loss per share[3] - The company reported a pre-tax consolidated loss of HKD (133,030,000) for the fiscal year 2024, compared to a loss of HKD (41,747,000) in 2023[18] - The company reported a pre-tax loss of HKD 133,030,000 for the year ending June 30, 2024, compared to a pre-tax loss of HKD 41,747,000 in the previous year, indicating a significant increase in losses[25] - The income tax expense for the year was HKD 379,000, a substantial increase from HKD 17,000 in the previous year, reflecting the higher pre-tax losses[25] - Basic and diluted loss per share for the year was HKD 130,130, compared to HKD 37,221 for the previous year, showing a worsening in per-share performance[26] Assets and Liabilities - Non-current assets decreased to HKD 658,992,000 from HKD 771,453,000, indicating a reduction of 14.5% year-over-year[4] - Current assets also declined to HKD 46,476,000 from HKD 54,472,000, a decrease of 14.5% compared to the previous year[4] - Total liabilities increased to HKD 141,354,000 from HKD 123,806,000, reflecting a rise of 14.1% year-over-year[4] - The company's equity attributable to owners decreased to HKD 576,503,000 from HKD 710,932,000, a decline of 18.9%[5] - The group reported a net current liability of approximately HKD 94,878,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[7] - As of June 30, 2024, the group's current liabilities amounted to approximately HKD 95 million, with a current ratio of 0.33[49] - The group's total outstanding debt as of June 30, 2024, was approximately HKD 162 million, including secured bank loans of about HKD 104 million[49] - The group's capital debt ratio, calculated as total liabilities over total assets, was approximately 22.97%[50] Revenue Sources - Revenue from customer contracts recognized at a specific point in time for the sale of goods was HKD 14,052,000 in 2024, compared to HKD 11,007,000 in 2023, reflecting a growth of approximately 27.7%[14] - Rental income increased to HKD 8,681,000 in 2024 from HKD 7,379,000 in 2023, representing an increase of approximately 17.6%[14] - Revenue from the Hong Kong market increased to HKD 8,681,000 in 2024 from HKD 7,379,000 in 2023, reflecting a growth of about 17.6%[19] - The R&D segment's revenue from external customers was HKD 14,052,000, up from HKD 11,007,000 in the previous year, marking an increase of approximately 27.7%[17] - Total revenue for the group was HKD 22,733,000 in 2024, up from HKD 18,386,000 in 2023, indicating an overall growth of approximately 23.5%[14] Operational Strategies - The group implemented various strategies to enhance revenue and profitability, including cost control measures[7] - The company plans to continue its focus on R&D and market expansion, particularly in the development of portable X-ray systems and advanced algorithms[15] Investments and Developments - The company has invested approximately HKD 160 million in collaboration with the Finnish National Technology Innovation Agency and plans to make significant investments in the coming years[43] - The technology department aims to generate revenue of USD 29 million by 2029 through the sale of developed technology products or systems[43] - The company has launched various improvements to its portable X-ray detection equipment, enhancing product quality and customer satisfaction[44] - The IPESSA Tiny positioning solution was completed in early 2021, with customer trials conducted in Finland, Europe, and Turkey in the first half of 2022[45] - The first IPESSA Base Station was delivered in December 2023, providing RTK correction data for enhanced positioning accuracy[45] - The IPESSA Nano module, designed for drones and compact AGVs, was launched at the end of 2021, with the first units shipped in the fiscal year 2023-2024[46] - The IPESSA Yaw Bar, a high-end positioning device for maritime applications, has begun sales of its entry-level version equipped with MEMS inertial sensors[46] - The RTK-VINS system, utilizing core technologies from Tiny and Nano, is expected to enter customer trials by the end of 2024 and commence mass production in 2025[46] Governance and Management - The company has adhered to all corporate governance codes as per the Hong Kong Stock Exchange, except for the absence of some independent non-executive directors at the annual general meeting[56] - The chairman and CEO roles are separated, with Dr. Wong Shih Wah currently serving as chairman and temporarily as CEO, ensuring strong leadership and effective business planning[57] - The annual performance announcement is available on the Hong Kong Stock Exchange and the company's website, with the annual report to be sent to shareholders at an appropriate time[58] Shareholder and Financing - The group has bank loans secured with repayment terms amounting to approximately HKD 104,489,000, which are expected to be repaid on schedule without immediate repayment demands from banks[7] - Shareholder Gold Seal Holdings Limited has agreed not to demand repayment of approximately HKD 12,960,000 owed to the group until the financial condition allows[7] - As of June 30, 2024, the group had approximately HKD 83,011,000 in unutilized bank financing available[7] Employee and Workforce - The group employed a total of 47 employees as of June 30, 2024, with compensation determined based on market conditions[52] - The company has not made any significant acquisitions or disposals of subsidiaries during the year ending June 30, 2024[51] Dividend Policy - The company has not declared any dividends for the year ending June 30, 2024, consistent with the previous year[28] - The company has not proposed any final dividends for the year, maintaining a policy of no dividend distribution[37]
PALADIN(00495) - 2024 - 年度业绩