Financial Performance - The company reported a revenue of HKD 199,736,000 for the fiscal year 2024, representing a 2% increase from HKD 196,014,000 in 2023[3] - The loss attributable to equity holders was HKD 146,680,000, a significant decline compared to a profit of HKD 48,961,000 in the previous year, marking a 400% change[3] - The earnings per share (EPS) showed a loss of HKD 4.32, a drastic change from an EPS of HKD 1.44 in the previous year, reflecting a 400% decline[3] - For the year ended December 31, 2024, the company reported a net loss of HKD 625,242,000 compared to a profit of HKD 179,357,000 in 2023, representing a significant decline in performance[9] - The group reported a loss before tax of HKD 124,824,000 for the year ended December 31, 2024, compared to a profit before tax of HKD 70,429,000 in 2023[20][22] Asset and Equity Changes - The total assets decreased from HKD 5,301,435,000 in 2023 to HKD 4,631,770,000 in 2024, a reduction of approximately 12.6%[11] - The company's equity attributable to shareholders decreased from HKD 5,210,647,000 in 2023 to HKD 4,541,247,000 in 2024, reflecting a decline of about 12.8%[11] - The net asset value per share decreased to HKD 133.69 from HKD 153.36, representing a 13% decline year-over-year[3] - The group’s total equity as of December 31, 2024, was TWD 197,928,700,000, an increase from TWD 183,317,000,000 as of December 31, 2023[47] Fair Value and Investment Changes - The fair value changes of investment properties resulted in a non-cash loss of HKD 276,900,000, compared to a loss of HKD 75,600,000 in 2023, indicating a 266% increase in losses[4] - Total comprehensive income included a fair value loss of approximately HKD 458,800,000, contrasting with a fair value gain of HKD 130,700,000 in 2023[4] - The fair value loss on financial assets recognized through other comprehensive income was HKD 458,796,000 in 2024, compared to a gain of HKD 130,713,000 in 2023[9] - The investment portfolio increased by approximately 9.82% year-on-year, with total assets valued at HKD 4,129,000,000, accounting for 8.9% of the group's total assets[43] Cash and Liabilities - Cash and cash equivalents increased from HKD 125,278,000 in 2023 to HKD 205,359,000 in 2024, an increase of approximately 64%[11] - The company's total liabilities remained relatively stable, with a slight decrease from HKD 90,788,000 in 2023 to HKD 90,523,000 in 2024[11] - The group’s total liabilities amounted to HKD 90,523,000 as of December 31, 2024, with HKD 59,943,000 attributed to segment liabilities[24] Dividends and Income - The company declared a final dividend of HKD 0.70 per share, unchanged from the previous year, while the special dividend decreased by 33% to HKD 0.40[3] - The proposed final dividend for 2024 is HKD 0.70 per share, unchanged from 2023, while the special dividend is proposed at HKD 0.40 per share, down from HKD 0.60 per share in 2023, totaling HKD 37,365,000 compared to HKD 44,158,000 in the previous year[31][36] - Rental income from investment properties increased to HKD 63,531,000 in 2024, up 2.71% from HKD 59,886,000 in 2023[20] - Management fee income from investment properties increased to HKD 11,857,000, up 15.83% from HKD 10,235,000 in 2023[20] Operational Insights - The company did not have any bank borrowings as of December 31, 2024[4] - The company has not adopted any new accounting standards that would have a significant impact on its financial performance or position[14] - The company is currently evaluating the impact of new accounting standards and interpretations that will be effective from January 1, 2025, but does not anticipate any significant effects on its operations[15] - The group employed 13 employees as of December 31, 2024, maintaining the same number as the previous year[49] Joint Ventures and Market Position - The joint venture in Shanghai has its operational period extended until May 31, 2042, while the land use rights expired on May 31, 2022, and discussions with local partners are ongoing[41] - Despite local economic challenges, the joint venture in Shenzhen remains profitable, with a 45% equity stake and all assets leased to third parties[42] - The company holds 290,000 square feet of commercial space in Kwun Tong, with an occupancy rate of approximately 81.6% amid competitive market conditions[39] Risk Management - The company has no concentrated credit risk in trade receivables, ensuring a stable financial position[32] - Trade payables rose to HKD 59,003,000 in 2024 from HKD 57,267,000 in 2023, reflecting increased liabilities[33]
NANYANG HOLD(00212) - 2024 - 年度业绩