Financial Performance - Revenue for the year ended December 31, 2024, was HKD 37,326,000, representing a 5.52% increase from HKD 35,374,000 in 2023[2] - Gross profit increased to HKD 31,422,000, up 4.77% from HKD 29,990,000 in the previous year[3] - Loss before tax for the year was HKD 93,457,000, a 56.40% increase compared to a loss of HKD 59,757,000 in 2023[3] - Profit attributable to the owners of the company, excluding fair value changes of investment properties, was HKD 19,757,000, a 19.00% increase from HKD 16,602,000 in the prior year[2] - The company reported a total loss before tax of HKD 93,457,000 for 2024, compared to a loss of HKD 59,757,000 in 2023, indicating a deterioration in financial performance[20] - The company recorded a loss of approximately HKD 96.7 million for the year ended December 31, 2024, compared to a loss of HKD 62.6 million in 2023, primarily due to a fair value loss of investment properties amounting to HKD 116.5 million[49] - The group experienced a loss attributable to owners of approximately HKD 96.7 million for the year ended December 31, 2024, compared to a loss of HKD 62.6 million in 2023, primarily due to a fair value loss on investment properties of approximately HKD 116.5 million[55] Assets and Liabilities - Total assets decreased to HKD 1,152,038,000 from HKD 1,248,126,000, reflecting a decline of approximately 7.68%[5] - The company’s total equity attributable to owners decreased to HKD 1,131,696,000 from HKD 1,228,439,000, a decline of 7.87%[5] - The company’s total liabilities increased to HKD 20,342,000 in 2024 from HKD 19,687,000 in 2023[22] - As of December 31, 2024, the group's total property value was approximately HKD 1,084.1 million, a decrease from HKD 1,200.6 million in 2023, with office and retail properties in Hong Kong contributing 56.7% and 30.4% respectively[53] Income Sources - Office property rental income rose to HKD 19,062,000 in 2024, up from HKD 17,928,000 in 2023, reflecting an increase of 6.3%[20] - Property management fee income increased significantly to HKD 14,878,000 in 2024, compared to HKD 12,478,000 in 2023, marking a growth of 19.2%[20] - Rental income for the year was approximately HKD 32.4 million, an increase from HKD 31.1 million in 2023, with office properties contributing about HKD 19.1 million (58.9%) and retail properties contributing about HKD 13.3 million (41.1%)[44] - The group reported property management fee income of approximately HKD 4.9 million, representing 13.2% of total revenue for the year ended December 31, 2024, compared to 12.2% in 2023[51] Cash Flow and Expenses - Cash and bank balances increased to HKD 53,171,000 from HKD 33,306,000, representing a growth of 59.67%[5] - The company incurred total operating expenses of HKD 16,583,000 in 2024, a slight decrease from HKD 17,032,000 in 2023[29] - The company reported tax expenses of HKD 3.286 million for 2024, up from HKD 2.874 million in 2023, with deferred tax expenses decreasing from HKD 832,000 to HKD 321,000[5] - The company has no provisions for overseas profits tax for the year ended December 31, 2024[32] Shareholder Information - The company did not declare or pay any dividends for the year ended December 31, 2024[34] - The group has not proposed any final dividend for the year ended December 31, 2024, consistent with the previous year[60] - The company will suspend share transfer registration from April 17, 2025, to April 25, 2025, to determine the eligibility of shareholders for the annual general meeting[77] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules appendix C1 and has complied with all relevant provisions as of December 31, 2024[74] - The auditor, PwC, confirmed that the performance figures in this announcement are consistent with the consolidated financial statements for the year ending December 31, 2024[76] - The audit committee, established on December 15, 2017, has reviewed the audited consolidated financial statements for the year ending December 31, 2024[79] Strategic Plans - The company aims to diversify its income sources and enhance market resilience by exploring opportunities in the financial services and technology sectors[47] - The company plans to continue acquiring high-quality assets to enhance long-term value and rental income amidst a challenging local property market[45] Employment and Operations - The group had 16 full-time employees as of December 31, 2024, with employee benefit expenses amounting to approximately HKD 8.3 million[71] - The company has adopted new and revised accounting standards, which it assessed to have no significant impact on its financial position and performance[7] - The group maintained a prudent treasury policy, ensuring a robust liquidity position throughout the review period[57] - The group has not engaged in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[72] - There were no purchases, sales, or redemptions of the company's listed securities during the year ending December 31, 2024[75]
晋安实业(02292) - 2024 - 年度业绩