Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 102,821,000, a decrease of 48.6% from HKD 199,683,000 in 2023[3] - Profit before tax from continuing operations was HKD 12,589,000, a decrease of 13.6% compared to HKD 14,575,000 in 2023[5] - The annual profit from continuing operations was HKD 11,338,000, down 11.6% from HKD 12,830,000 in the prior year[5] - Total comprehensive income for the year was HKD 4,442,000, a decline of 50.9% from HKD 9,065,000 in 2023[5] - The total revenue for the group's continuing operations for the year ended December 31, 2024, was approximately HKD 102,800,000, compared to HKD 199,700,000 for the year ended December 31, 2023, representing a decline of about 48.6%[43] - The healthcare business revenue for the year ended December 31, 2024, was approximately HKD 86,500,000, down from HKD 191,200,000 for the year ended December 31, 2023, indicating a decrease of approximately 54.7%[44] - The group recorded a net profit of approximately HKD 11,300,000 for the year ended December 31, 2024, compared to HKD 9,800,000 for the year ended December 31, 2023, reflecting an increase of about 15.3%[52] Cost and Expenses - The cost of goods sold for the healthcare business was HKD 52,454,000, down 65.3% from HKD 151,077,000 in the previous year[3] - The total cost of goods sold recognized for the year 2024 is approximately HKD 52,454,000, significantly lower than HKD 151,077,000 in 2023, indicating a reduction of about 65.3%[31] - The sales cost for the group's continuing operations for the year ended December 31, 2024, was HKD 52,500,000, down from HKD 151,100,000 for the year ended December 31, 2023, indicating a decrease of about 65.3%[47] - The total expenses (excluding sales costs) for the group for the year ended December 31, 2024, were approximately HKD 37,800,000, an increase of about 11% from HKD 34,000,000 for the year ended December 31, 2023[48] Assets and Liabilities - Current assets increased to HKD 279,305,000 from HKD 251,387,000, representing an increase of 11.1%[6] - Total equity rose to HKD 244,307,000, up from HKD 239,865,000, reflecting a growth of 1.8%[6] - Cash and bank balances decreased to HKD 206,336,000 from HKD 223,574,000, a decline of 7.7%[6] - Trade receivables increased to HKD 37,345,000 in 2024 from HKD 12,979,000 in 2023, marking an increase of approximately 187.5%[32] - The inventory of finished goods as of December 31, 2024, is HKD 34,546,000, compared to HKD 11,916,000 in 2023, reflecting an increase of approximately 189.5%[31] - Trade payables increased to HKD 28,606,000 in 2024 from HKD 6,536,000 in 2023, representing an increase of approximately 338.5%[35] Income and Earnings - The company reported a basic and diluted earnings per share of HKD 0.56, compared to HKD 0.48 in the previous year, indicating an increase of 16.7%[5] - Basic and diluted earnings per share from continuing operations for 2024 is HKD 0.56, a decrease from HKD 0.63 in 2023, representing a decline of approximately 11.1%[29] - The income tax expense for the year 2024 is HKD 1,251,000, compared to HKD 1,745,000 in 2023, reflecting a decrease of approximately 28.3%[26] Business Operations - The company has terminated its margin trading business in New Zealand, Australia, and Hong Kong due to uncertainties, with a reported loss of HKD 2,988 thousand for the discontinued operations in 2023[23] - The company has established an online store for healthcare products through a well-known international e-commerce platform, indicating a strategic expansion into the healthcare market[12] - The group plans to expand its B2C model through popular short video platforms in China, which generated approximately HKD 40,000,000 in revenue for the year[41] - The group anticipates further opportunities in the healthcare industry driven by technological advancements and changing consumer expectations[41] - The group intends to launch its Original Design Manufacturing (ODM) products in China and Hong Kong, utilizing established e-commerce cross-border channels for distribution[67] - The group has obtained a wholesale license from the Hong Kong Department of Health and plans to collaborate with Japanese pharmaceutical companies for product distribution[69] Corporate Governance and Compliance - The company has not adopted any new or revised accounting standards that are expected to have a significant impact on the current or future periods[9] - The company expects that the application of the new Hong Kong Financial Reporting Standard 18 will not impact its financial position and performance in the foreseeable future, but will affect the presentation of the comprehensive income statement[11] - The group has complied with the corporate governance code throughout the year ending December 31, 2024[73] - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2024, and submitted its opinions to the board[65] Shareholder Matters - The company has no dividends recommended for the year ending December 31, 2024, consistent with 2023[27] - The board does not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[71] - The company plans to change its name from "CLSA Premium Limited" to "Top Eminent Healthcare Group Limited" pending shareholder approval[80] - The board of directors has proposed amendments to the company's articles of association to reflect the name change, which will require special resolution approval from shareholders[85] - The company will hold a meeting for shareholders to consider and approve the proposed name change and amendments to the articles of association[87] Employee Matters - The group employed a total of 13 employees as of December 31, 2024, including employees, consultants, and directors[60] - Directors Li Jiong and Xu Jianqiang have agreed to waive their annual director's fees of HKD 120,000 each, effective from April 1, 2023[77] - Mr. Yuan Feng has notified the company of his waiver of annual remuneration of HKD 789,600, effective from September 30, 2024[77] Miscellaneous - The group has no significant investments, acquisitions, or disposals of subsidiaries for the year ending December 31, 2024[59] - The group has not purchased, sold, or redeemed any of its listed securities during the year ending December 31, 2024[74] - The annual report for the year ending December 31, 2024, will be published on the company's website and the Hong Kong Stock Exchange website[79] - Independent non-executive director Mr. Wu Jianfeng's position as Chief Engineer at Accertify will be independent following its spin-off on May 1, 2024[77] - The company will not arrange for the exchange of existing shares for new shares bearing the new company name after the name change[84] - The name change will not affect shareholders' rights or the trading of the company's shares on the stock exchange[84] - The board believes the new name will provide a better corporate image and potential business opportunities for the company[83]
CLSA PREMIUM(06877) - 2024 - 年度业绩