Financial Performance - The Group's total revenue from continuing operations for FY2024 was approximately HK$71.0 million, representing a decrease of 11.3% compared to FY2023's revenue of approximately HK$80.0 million[10][13]. - Revenue from the renewable energy segment was approximately HK$62.2 million in FY2024, down from approximately HK$73.1 million in FY2023, primarily due to weaker demand and falling oil prices[14]. - The decrease in overall revenue was attributed to reduced oil demand in Europe following the EU's anti-dumping investigation on Chinese biodiesel imports and increased freight rates[13]. - The net loss attributable to the owners of the Company for FY2024 was approximately HK$14.3 million, representing a 58.9% year-on-year increase from approximately HK$9.0 million in FY2023[89]. - Shipping costs increased by approximately HK$1.7 million in FY2024, significantly eroding profit margins in the renewable energy segment[91]. - Total expenditures for FY2024, excluding finance costs, were approximately HK$47 million, down from approximately HK$50.9 million in FY2023[101]. Business Segments - The Group has discontinued its healthcare business as of June 2023, focusing on renewable energy, waste construction materials, plastic recycling, and money lending[12]. - The Group's operations are primarily engaged in renewable energy, waste processing, and recycling services, reflecting a strategic shift post-healthcare business disposal[12]. - The revenue from the waste construction materials segment was approximately HK$3.9 million for FY2024, slightly down from HK$4.1 million in FY2023[15]. - The plastic recycling/metal scrap segment recorded revenue of approximately HK$2.9 million for FY2024, an increase from HK$2.6 million in FY2023[15]. - The money lending business generated revenue of approximately HK$0.2 million for both FY2024 and FY2023, indicating no growth[16]. Market Conditions - The Group's financial performance indicates challenges in the renewable energy market, necessitating potential strategic adjustments[10]. - The Group's revenue decline highlights the impact of external market conditions on its operations, particularly in the European market[13]. - Future outlook may involve exploring new markets or enhancing existing services to mitigate revenue declines in the renewable energy sector[10]. - The global economy is expected to remain uncertain throughout 2024, with slow growth and tight financial conditions anticipated[16]. - The German plastics manufacturing industry declined significantly for the second consecutive year in 2023 due to high energy prices and increased production costs[16]. - The Group anticipates continued volatility in 2024 due to geopolitical tensions and slow global economic activity[16]. Strategic Planning - The Group's management is expected to address these challenges in upcoming strategic planning sessions[10]. - The Group plans to maintain a cautious and conservative approach regarding the credit quality of new lending amid global economic volatility[16]. - The Group plans to reassess the viability of its plastics recycling business in Germany due to ongoing challenges and pressure from cheap virgin plastics imports[18]. - The outlook for the plastics recycling industry remains negative, with hopes for a national plastic tax diminishing as policymakers have postponed addressing this issue until 2025[18]. Corporate Governance - The Company has a strong board of directors with diverse backgrounds in finance, accounting, and corporate governance, enhancing its strategic decision-making capabilities[28]. - The Company is focused on expanding its market presence and enhancing its financial management through experienced leadership[30]. - The management team is committed to maintaining compliance with regulatory obligations while pursuing growth opportunities in the market[33]. - The Company emphasizes transparency, independence, accountability, responsibility, and fairness in its corporate governance practices[192]. - The Company has complied with all applicable code provisions under the Corporate Governance Code throughout FY2024, with exceptions noted in the Corporate Governance Report[182]. Risk Management - The financial risk management objectives and policies of the Group are outlined in the Management Discussion and Analysis section of the annual report[122]. - The Group is exposed to foreign currency risks due to operations in Hong Kong and Germany, with revenues and expenditures primarily in US dollars and euros[113][115]. - The Group will continue to monitor loan recoverability and conduct checks on collateral value to prevent significant deterioration over time[78]. Leadership and Management - Mr. Luo has over 17 years of experience in asset restructuring and corporate finance, previously serving as CEO of China Regenerative Medicine International Limited from December 2009 to August 2012[25]. - Mr. Ho Wai Hung, appointed as an executive director on March 12, 2018, has extensive experience in accounting and finance, particularly in the money lending business[26]. - The roles of chairman and chief executive officer are currently performed by the same individual, Mr. Lo Kam Wing JP, which the Board believes provides strong leadership[192]. - The Board consists of a combination of executive Directors and independent non-executive Directors, with recent appointments made on July 13, 2023, and August 9, 2023[199]. Shareholder Information - The Company has maintained appropriate directors and officers liability insurance cover throughout the year[169]. - The largest customer accounted for 21% of the Group's sales, while the five largest customers combined represented 67%[168]. - The largest supplier contributed to 37% of the Group's purchases, with the five largest suppliers together making up 43%[168]. - As of June 30, 2024, the total number of issued ordinary shares of the Company is 1,356,308,176 shares[180].
绿色能源科技集团(00979) - 2025 - 年度财报