Financial Performance - The net profit attributable to the owners of the company for the year ended December 31, 2024, was HKD 71 million, an increase of HKD 24 million (+51%) compared to HKD 47 million in 2023[3]. - Total revenue for the year was HKD 683.973 million, up from HKD 606.035 million in 2023, representing an increase of approximately 12.8%[6]. - The company reported a loss before tax of HKD 293.006 million for the year, compared to a loss of HKD 16.154 million in 2023[6]. - The total comprehensive loss for the year was HKD 342.817 million, significantly higher than the loss of HKD 25.916 million in the previous year[8]. - The company's total assets decreased to HKD 8.952 billion from HKD 9.571 billion in 2023, reflecting a decline of approximately 6.5%[10]. - The company's cash and cash equivalents decreased to HKD 235.119 million from HKD 334.709 million in 2023, a decline of approximately 29.7%[10]. - The company reported a significant increase in administrative expenses, which amounted to HKD 67.430 million compared to HKD 87.181 million in the previous year[6]. - The company experienced a fair value loss on investment properties of HKD 312.632 million, compared to HKD 93.700 million in 2023[6]. - The basic loss per share for the year was HKD 68.84, compared to HKD 18.62 in 2023, indicating a worsening in per-share performance[6]. - The total financial costs for 2024 were HKD 64,989,000, slightly up from HKD 63,175,000 in 2023[21]. Revenue Sources - Hotel operating revenue increased to HKD 556,086,000 in 2024, up 13.9% from HKD 488,325,000 in 2023[18]. - Property rental income rose to HKD 127,887,000, a 8.7% increase from HKD 117,665,000 in the previous year[18]. - Total revenue for the year 2024 reached HKD 683,973,000, an increase of 12.8% from HKD 606,035,000 in 2023[14]. - The total revenue of the hotel group increased by 16% from approximately HKD 452,000,000 to approximately HKD 526,000,000[38]. - The rental income from commercial properties was HKD 128,000,000, an increase from HKD 118,000,000 in 2023[39]. Dividends and Shareholder Returns - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with no dividend in 2023[4]. - The company did not declare any dividends for the year 2024, consistent with the previous year[23]. Operational Challenges - The company experienced a significant decline in hotel service performance at the Best Western Hotel Tsim Sha Tsui, with revenue dropping to HKD 53,177,000 from HKD 57,624,000[18]. - The hotel business and rental income face ongoing challenges, with management focusing on increasing revenue and controlling costs[46]. - Future prospects are impacted by the weak Chinese economy and high HKD to RMB exchange rates, affecting tourist behavior[45]. Acquisitions and Investments - The company acquired Jessville Manor in Hong Kong for HKD 207,000,000, with a construction area of 12,288 square feet[44]. - The company completed the acquisition of Jessville Manor for a total consideration of HKD 207,000,000 on April 15, 2024, which constitutes a major transaction requiring shareholder approval[48]. - The company successfully increased the annual rent of the Royal Scot Hotel in London by 34% to GBP 4,737,000[43]. Governance and Compliance - The audit committee reviewed the group's audited financial performance for the year ending December 31, 2024[53]. - The company has adopted the standard code of conduct for securities trading, with all directors confirming compliance throughout the year[51]. - The chairman and CEO positions are held by the same individual, which the board believes provides consistent leadership and cost savings[50]. - The financial statements for the year ending December 31, 2024, have been agreed upon by the auditors, Deloitte[54]. - The board of directors consists of four executive directors, one non-executive director, and three independent non-executive directors as of March 14, 2025[56]. Debt and Financial Position - The overall debt of the group was HKD 1,060,000,000, with a debt-to-asset ratio of 13%[41]. - The company plans to retain funds to ensure a more stable cash flow due to challenging economic conditions and high operational costs[29]. - The average hotel occupancy rate remained above 90% during the year[43].
顺豪控股(00253) - 2024 - 年度业绩