Revenue and Profitability - For the fiscal year ending December 31, 2024, total revenue reached $9,183,000, an increase of 7.8% compared to $8,512,000 in 2023[2] - Shipping revenue was $9,183,000, up from $8,449,000 in the previous year, reflecting a growth of 8.7%[2] - The company reported a pre-tax profit of $1,706,000, a significant recovery from a loss of $3,974,000 in 2023[3] - The net profit attributable to the company's owners was $1,706,000, compared to a loss of $3,974,000 in the prior year[3] - Basic earnings per share improved to $0.16 from a loss of $0.36 per share in 2023[3] - The shipping segment generated $8,060,000 in revenue for 2024, up from $6,819,000 in 2023, reflecting a growth of 18.2%[21] - The shipping segment recorded a 9% increase in revenue to $9,183,000, with a profit increase of 39% to $3,097,000, up from $2,227,000 in the previous year[42] - The group reported a profit attributable to owners of the company of $1,706,000 in fiscal year 2024, a turnaround from a loss of $3,974,000 in 2023[54] - The shipping business contributed a profit of $3,097,000, up from $2,227,000 in the previous year[54] Assets and Liabilities - Total assets increased to $59,807,000 from $59,034,000, indicating a growth of 1.3%[5] - Current assets net of current liabilities stood at $18,657,000, up from $16,880,000 in the previous year[7] - The company’s reserves increased to $57,706,000 from $56,000,000, reflecting a growth of 3.0%[7] - The company’s total liabilities decreased from $1,072,000 in 2023 to $775,000 in 2024, reflecting a reduction of 27.7%[30] - The group’s current ratio improved significantly to approximately 19.60, compared to 9.76 in 2023, due to increased profits from the shipping business and repayment of loans[55] Financial Costs and Income - The company incurred financial costs of $20,000 in 2024, a decrease of 89.7% from $187,000 in 2023[22] - Financial costs decreased by 89% to $20,000 in fiscal year 2024, primarily due to the repayment of all borrowings[56] - The group’s bank interest income increased by 27% to $776,000, attributed to higher surplus funds[56] - The company did not report any interest income for the year, down from $63,000 in 2023[2] Investments and Acquisitions - The company completed the acquisition of Poly Odyssey Marine Corp. for a cash consideration of $1,503,000, which included a deposit for a vessel[32] - The company recognized a cash outflow of $1,501,000 from the acquisition of Poly Odyssey Marine Corp., after accounting for cash and cash equivalents acquired[33] - The company sold Zorina Navigation Corp. for a cash consideration of $13,800,000, with a net asset value of $13,694,000 at the time of sale[34] - The company completed the sale of a wholly-owned subsidiary for $13,800,000, with the only asset being a dry bulk vessel named "Zorina"[47] Market Conditions and Outlook - The Baltic Dry Index fluctuated between approximately 1,500 and 2,000 points during the year, compared to 1,000 to 2,000 points in 2023, indicating improved market conditions[42] - The company has a cautious optimistic outlook for the shipping business due to the recovery of the global economy and increasing trade activities[42] - The group maintains a cautiously optimistic outlook for the shipping industry, driven by global economic recovery and growth in emerging markets, with steady demand expected for iron ore, coal, grains, and construction materials[59] Cost Management and Efficiency - The group will continue to adopt a prudent management approach, focusing on cost reduction and efficiency improvement while actively seeking investment and acquisition opportunities[59] - The board is exploring various avenues to diversify revenue sources to mitigate the cyclical impact on fleet demand, aiming for sustainable long-term growth[59] Other Financial Metrics - The company recognized a gain of $106,000 from the sale of subsidiaries, compared to a loss of $2,100,000 in the previous year[2] - The company experienced a vessel impairment loss of $91,000 for the fiscal year, a decrease from $1,008,000 in the previous year[45] - The investment holding business recorded no revenue in the fiscal year 2024, with a segment loss of $389,000, compared to a loss of $1,186,000 in 2023[48] - The group recognized a credit loss provision of $389,000 for debt instruments, down from $1,146,000 in 2023, reflecting reduced credit risk[54] - The group reported a loss of $788,000 from a joint venture, primarily due to a decrease in the fair value of an industrial property in Shanghai[53] - The net proceeds from a public offering amounted to $8,621,000, with $5,800,000 allocated for operating funds in the shipping business[58]
勇利投资(01145) - 2024 - 年度业绩