Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, was HKD 351,188,000, representing a 130.7% increase from HKD 152,137,000 in the previous fiscal year[3] - Gross profit for the same period was HKD 20,164,000, up from HKD 13,791,000, indicating a growth of 46.5%[3] - Operating profit increased to HKD 11,230,000 from HKD 5,653,000, reflecting a growth of 98.5%[3] - The net profit for the year was HKD 272,000, a significant decrease from HKD 6,615,000 in the previous year, marking a decline of 95.9%[3] - Total comprehensive income for the year was HKD (962,000), down from HKD 8,140,000, indicating a decline of 111.8%[3] - Total revenue for the year ended December 31, 2024, was HKD 351,188,000, a significant increase from HKD 152,137,000 in 2023, representing a growth of 130.6%[19] - Operating profit for the year was HKD 11,230,000, with a net profit of HKD 272,000 after tax expenses of HKD 2,587,000[24] - The company reported a gross profit of HKD 15,246,000 from its two reportable segments: sales and distribution of IT products and maintenance and service support[24] - Other income decreased to HKD 2,796,000 in 2024 from HKD 7,638,000 in 2023, primarily due to a reduction in bank interest income[36] - The cost of goods sold increased significantly to HKD 326,155,000 in 2024 from HKD 134,310,000 in 2023, reflecting a rise in operational scale[38] - Net profit reported was approximately HKD 272,000, a decrease of HKD 6,343,000 compared to a net profit of approximately HKD 6,615,000 for the year ended December 31, 2023[75] Assets and Liabilities - The company's total assets increased to HKD 172,216,000 from HKD 163,374,000, a growth of 5.2%[6] - Cash and cash equivalents decreased to HKD 39,678,000 from HKD 104,485,000, a decline of 62.0%[6] - The company's equity attributable to owners increased to HKD 161,621,000 from HKD 155,618,000, a growth of 3.2%[6] - The total assets of the company as of December 31, 2024, were HKD 172,216,000, with total liabilities of HKD 9,270,000[26] - The company's total assets as of December 31, 2023, were HKD 163,374,000, with cash and cash equivalents amounting to HKD 104,485,000[30] - As of December 31, 2024, the group's net current assets were approximately HKD 149,511,000, an increase from HKD 136,060,000 in 2023, while cash and cash equivalents decreased to HKD 39,678,000 from HKD 104,485,000[86] - The capital debt ratio as of December 31, 2024, was approximately 5.7%, up from 4.2% in 2023[86] - The group holds a 21% stake in 4Square Return GmbH, with a carrying value of approximately HKD 9,774,000, representing 5.7% of the group's total assets as of December 31, 2024[93] Revenue Sources - Revenue from the sale and distribution of IT products reached HKD 323,363,000, up from HKD 133,004,000 in the previous year, marking a growth of 143.5%[19] - Revenue from repair and service support increased to approximately HKD 27,825,000 in 2024, compared to HKD 19,133,000 in 2023, marking an increase of about 45.5%[60] - Revenue from the sale and distribution of IT products accounted for approximately 92.1% of total revenue in 2024, up from 87.4% in 2023[60] - The Hong Kong market contributed approximately 89.9% of total revenue in 2024, up from 73.5% in 2023[62] Shareholder Information - The company issued 2,605,000 shares to subscribers as part of a subscription agreement completed on November 28, 2024[44] - No interim or final dividends were recommended for the fiscal year ending December 31, 2024[46] - The expected total amount from the subscription is approximately HKD 28.1 million, with a net amount of about HKD 27.4 million after expenses[87] - The net proceeds from the first tranche are planned to be used for expanding IT product sales and distribution, enhancing the capabilities of the repair center in China, and establishing an overseas repair center[89] Operational Insights - The company has expanded its repair services through a service framework agreement with its controlling shareholder, enhancing its revenue sources[59] - The company has been actively seeking new business opportunities to diversify its service offerings and strengthen its market position[59] - The company plans to allocate additional resources to further develop its repair and service support segment to enhance profitability and capital return[68] - The company is actively exploring suitable investment opportunities in the "circular economy" sector to fulfill its commitment to sustainable development[68] Governance and Compliance - The board is committed to high standards of corporate governance and has adopted the corporate governance code as per GEM listing rules[105] - The audit committee reviewed the group's financial statements for the year ending December 31, 2023, and the interim results for the six months ending June 30, 2024[111] - The audit committee consists of independent non-executive directors and meets at least twice a year[108] - The group has confirmed compliance with the trading standards for directors during the fiscal year 2024[107] Employment and Costs - As of December 31, 2024, the group employed 32 staff members, a decrease from 32 in the previous year, with total employee costs approximately HKD 9,121,000, down from HKD 11,373,000 in 2023[83] Future Outlook - Future plans may include fundraising or financing to strengthen human resources, facilities, and working capital to support distribution and fulfillment needs[98]
讯智海(08051) - 2024 - 年度业绩