Financial Performance - Revenue for the twelve months ending December 31, 2024, was approximately HKD 331.05 million, an increase of about HKD 11.9 million or 3.7% compared to HKD 319.15 million for the same period in 2023[4] - Net loss attributable to shareholders for the twelve months ending December 31, 2024, was approximately HKD 69.13 million, a decrease of about HKD 68.21 million from HKD 137.34 million in the previous year[4] - Basic and diluted loss per share for the twelve months ending December 31, 2024, was HKD 1.25, compared to HKD 2.49 for the same period in 2023[4] - Total comprehensive loss for the twelve months ending December 31, 2024, was HKD 114.805 million, compared to HKD 189.420 million in the previous year[6] - The company reported a total comprehensive loss for the period of HKD 90,177,000, compared to a loss of HKD 158,374,000 in the previous year, indicating an improvement of 43%[13] - The group recorded a net loss of HKD 102,752,000 for the twelve months ended December 31, 2024, compared to a net loss of HKD 192,709,000 in 2023, indicating an improvement in financial performance[21] - The company's loss attributable to shareholders for the twelve months ended December 31, 2024, was HKD (69,127,000), a significant improvement from HKD (137,336,000) in 2023, indicating a reduction in losses by about 49.7%[40] Revenue Breakdown - Water supply and related services revenue increased to HKD 294,307,000 from HKD 286,829,000, reflecting a growth of 2.1%[20] - Revenue from water supply and related services was approximately HKD 308,422,000, up 3.47% or about HKD 10,343,000 year-on-year, driven by increased installation, construction, and maintenance income[68] - The property investment and development segment recorded revenue of approximately HKD 22,527,000, an increase of about HKD 1,718,000 from the previous year, supported by improved market conditions and consumer confidence[68] - The financial services segment reported revenue of approximately HKD 100,000, a decrease of 61% compared to HKD 259,000 in the previous year, due to enhanced credit monitoring for margin clients[69] Cash Flow and Liquidity - The net cash generated from operating activities for the year ended December 31, 2024, was HKD 118,019,000, a decrease of 13.7% compared to HKD 136,907,000 in 2023[11] - The net cash used in investing activities significantly improved to HKD (28,167,000) from HKD (296,508,000) in the previous year, indicating a reduction of 90.5%[11] - The net cash used in financing activities also decreased to HKD (84,664,000) from HKD (166,190,000), reflecting a reduction of 49.1%[11] - The net increase in cash and cash equivalents was HKD 5,188,000, a significant recovery from a decrease of HKD (325,791,000) in 2023[11] - As of December 31, 2024, cash and cash equivalents totaled HKD 228,010,000, slightly up from HKD 226,402,000 at the beginning of the year[11] - Cash and bank balances increased to HKD 146,323,000 from HKD 102,770,000, representing a growth of 42.3%[11] - Cash and bank balances increased to HKD 149,589,000 in 2024 from HKD 106,034,000 in 2023, representing an increase of 41%[53] Assets and Liabilities - Non-current assets as of December 31, 2024, totaled HKD 1,450.97 million, down from HKD 1,517.086 million in the previous year[8] - Current liabilities increased to HKD 986.808 million as of December 31, 2024, compared to HKD 785.097 million in the previous year[9] - Net assets as of December 31, 2024, were HKD 497.440 million, a decrease from HKD 613.513 million in the previous year[9] - The group’s total liabilities included a net current liability of HKD 498,227,000 as of December 31, 2024, indicating a need for careful cash flow management[21] - The group's asset-liability ratio increased to 73% as of December 31, 2024, compared to 69% as of December 31, 2023[109] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, with a deviation where the roles of Chairman and CEO are held by the same individual, which is against the code's stipulation[129] - The board will regularly review and propose amendments as necessary to ensure compliance with the corporate governance code[130] - The Audit Committee, established in October 2001, comprises three independent non-executive directors and is responsible for reviewing financial reporting procedures and risk management systems[134] - The second interim financial report for the twelve months ending December 31, 2024, has been reviewed by the Audit Committee but not audited[134] Future Plans and Commitments - The group plans to focus on water supply and property investment and development businesses to provide stable income sources while exploring potential investment opportunities in other segments[72] - The company will consider raising additional debt or equity financing for any significant expansion, development, investment, or acquisition that may arise in the future[118] - The company has capital commitments for property, plant, and equipment amounting to HKD 5,569,000 in 2024, down from HKD 14,968,000 in 2023[62]
环球实业科技(01026) - 2024 - 中期业绩