Financial Performance - Revenue for the twelve months ended December 31, 2024, was $62,419 thousand, a decrease of 5.4% compared to $66,316 thousand for the same period in 2023[4] - Gross profit for the same period was $2,373 thousand, down from $2,934 thousand, reflecting a decline of 19.1%[4] - The net loss for the twelve months ended December 31, 2024, was $(7,948) thousand, an improvement from a net loss of $(9,749) thousand in the previous year, indicating a reduction of 20.5%[4] - The company reported a basic and diluted loss per share of $(0.72) for the twelve months ended December 31, 2024, compared to $(0.89) in the previous year, reflecting a 19.1% improvement[6] - The company reported revenue from the sale of IC products and electronic components of $62,419 thousand for the year ending December 31, 2024, compared to $66,316 thousand for the same period in 2023, representing a decrease of approximately 5.4%[32] - Total other income for the year ended December 31, 2024, was $78,000, a decrease of 59.4% compared to $193,000 for the year ended December 31, 2023[34] - Interest expenses for the year ended December 31, 2024, totaled $3,113,000, an increase of 36.2% from $2,284,000 in 2023[35] - The company recorded a net loss of $7.9 million for the year, improving from a net loss of $9.7 million in the prior period[84] Assets and Liabilities - Total assets decreased to $36,838 thousand in 2024 from $43,143 thousand in 2023, representing a decline of 14.6%[11] - Current liabilities increased slightly to $32,164 thousand in 2024 from $31,177 thousand in 2023, showing a rise of 3.2%[12] - The company’s equity decreased to $15,121 thousand in 2024 from $22,597 thousand in 2023, a decline of 33.0%[12] - Inventory decreased to $12,030 thousand in 2024 from $14,007 thousand in 2023, a reduction of 14.2%[11] - Trade receivables dropped significantly to $11,317 thousand in 2024 from $19,047 thousand in 2023, a decrease of 40.5%[11] - The company’s total liabilities increased to $13,893,000 as of December 31, 2024, from $12,715,000 in 2023[64] - The company's bank borrowings increased to $9,197,000 as of December 31, 2024, compared to $5,923,000 in 2023[64] - The asset-backed financial liabilities were approximately $8,888,000 as of December 31, 2024, compared to $4,933,000 on December 31, 2023[57] Revenue Breakdown - Revenue from customers in Hong Kong was $51,842 thousand for the year ending December 31, 2024, up from $46,505 thousand in 2023, indicating an increase of about 11.0%[30] - Revenue from customers in China decreased to $10,577 thousand in 2024 from $19,811 thousand in 2023, reflecting a decline of approximately 46.6%[30] Fiscal Year and Accounting Changes - The company has changed its fiscal year-end from December 31 to March 31, with the next fiscal year-end set for March 31, 2025[22] - The company has adopted new accounting standards effective from January 1, 2024, but these changes did not have a significant impact on the financial statements[26] Corporate Governance - The company has complied with the Corporate Governance Code since its listing on July 16, 2019, with ongoing reviews to enhance governance practices[100] - The board consists of experienced individuals, including two executive directors and three independent non-executive directors, ensuring diverse opinions in decision-making[100] - The company is committed to transparency and accountability to shareholders through effective corporate governance practices[100] Staff and Operations - The company employed approximately 62 staff members as of December 31, 2024, down from about 91 staff members in the previous year[88] - The company operates primarily in Hong Kong and China, with a single operating segment focused on the sale of IC products and electronic components[29] Dividends and Shareholder Information - The company did not declare or propose any interim dividends for the year ended December 31, 2024, consistent with 2023[42] - The company’s total issued and fully paid ordinary shares remained at 1,098,122,380 as of December 31, 2024, unchanged from 2023[65] Future Outlook - The company is focusing on emerging markets and providing eco-friendly and energy-saving solutions despite challenges in the semiconductor industry[70] - The company is actively exploring new growth areas to strengthen its future development amidst industry demand challenges[72]
康特隆(01912) - 2024 - 中期业绩