Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of HKD 711,157,000, a decrease of 4.1% from HKD 741,619,000 in 2023[4] - The gross profit for the year was HKD 266,133,000, down 6.8% from HKD 285,439,000 in the previous year[4] - The company incurred an operating loss of HKD 21,291,000 compared to an operating profit of HKD 66,784,000 in 2023, indicating a significant decline in operational performance[4] - The net loss attributable to equity holders was HKD 20,096,000, a stark contrast to the profit of HKD 85,898,000 reported in the previous year[5] - Total comprehensive loss for the year amounted to HKD 18,999,000, compared to a comprehensive income of HKD 86,489,000 in 2023[7] - The company reported a basic loss per share of 5 cents, compared to earnings of 23 cents per share in the previous year[5] - The group recorded a consolidated revenue of HKD 711 million in 2024, a decrease of 4.1% compared to 2023[45] - Gross profit for 2024 was HKD 266 million, down 6.8% from HKD 285 million in 2023, primarily due to a decline in export volume and profit margins in Southern China[45] - The company recognized a one-time non-cash impairment loss of HKD 90 million, resulting in a consolidated loss of HKD 18.9 million for 2024, compared to a profit of HKD 85.9 million in 2023[45] - Basic loss per share for 2024 was HKD 20.1 million, compared to a profit of HKD 85.9 million in 2023[34] Asset and Equity Changes - Non-current assets decreased to HKD 404,602,000 from HKD 483,033,000, reflecting a reduction of 16.3%[8] - Current assets increased to HKD 354,604,000, up from HKD 324,523,000, representing an increase of 9.3%[9] - The total equity attributable to equity holders decreased to HKD 657,199,000 from HKD 696,572,000, a decline of 5.6%[9] - Total assets net worth was HKD 635 million as of December 31, 2024, down from HKD 673 million in 2023[45] Customer Revenue and Sales - Hong Kong external customer revenue decreased to HKD 447,319,000 in 2024 from HKD 450,352,000 in 2023, a decline of 0.7%[22] - Mainland China external customer revenue decreased to HKD 263,838,000 in 2024 from HKD 291,267,000 in 2023, a decline of 9.4%[22] - The largest customer accounted for 55% of total group revenue, with transactions amounting to HKD 392,420,000 in 2024, down from HKD 406,090,000 in 2023[29] - Hong Kong's overall sales volume decreased by 6% in 2024, while the beer industry in Hong Kong saw a decline of 3.3%[47] - The company's overall sales in Hong Kong recorded a growth of 2.9% due to increased export sales, despite local challenges[47] Operational Changes and Strategies - Reported segment operating loss was HKD (29,831,000) in 2024 compared to a profit of HKD 61,968,000 in 2023[22] - The company launched new product formats, including a 250ml bottle of San Miguel Light in May and a 500ml four-pack of San Miguel beer in September[52] - The company plans to continue expanding the San Miguel brand's distribution network in Hong Kong and Southern China to drive sales recovery and improve operational efficiency[57] - The company remains cautiously optimistic about economic growth prospects in Hong Kong and Southern China, while acknowledging potential challenges from geopolitical tensions[57] Income and Expenses - Rental income from investment properties increased to HKD 54,045,000 in 2024 from HKD 33,115,000 in 2023, a growth of 63.1%[29] - Bank interest income increased to HKD 7,209,000 in 2024 from HKD 3,914,000 in 2023, a growth of 83.5%[29] Impairment and Liabilities - Non-current asset impairment loss recognized was HKD 90,000,000 in 2024, indicating signs of impairment in Hong Kong manufacturing assets[29] - Total reported segment assets decreased to HKD 997,089,000 in 2024 from HKD 1,077,749,000 in 2023, a decline of 7.4%[23] - Total reported segment liabilities decreased to HKD 397,037,000 in 2024 from HKD 432,628,000 in 2023, a decline of 8.2%[23] Employee and Governance - The company has committed to enhancing employee welfare and skills through internal training programs and maintaining competitive compensation packages[54] - The board of directors includes executive and non-executive members, ensuring a diverse governance structure[60] Miscellaneous - The company proposed a final dividend of HKD 0.05 per share for the year ending December 31, 2024[46] - The annual report for the year 2024 will be published on the Hong Kong Stock Exchange website and the company's website[60] - All monetary values in the announcement are stated in Hong Kong dollars, unless otherwise specified[60]
香港生力啤(00236) - 2024 - 年度业绩