Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 1,351 million, an increase of 19.2% compared to HKD 1,134 million in 2023[3] - The net loss attributable to the company's owners for the year was HKD 470,810 thousand, compared to a loss of HKD 310,932 thousand in the previous year, representing an increase in loss of 51.4%[4] - The basic and diluted loss per share for the year was HKD 30.15, compared to HKD 20.45 in 2023, indicating a 47.2% increase in loss per share[3] - The total loss for the group before tax in 2024 was significantly impacted by an impairment loss of HKD 119,824,000 on property, plant, and equipment, which was not present in 2023[19] - The group reported a total loss of HKD 121,995,000 in 2024, compared to a loss of HKD 4,395,000 in 2023, indicating a substantial increase in losses[14] Assets and Liabilities - Total assets decreased to HKD 503,043 thousand from HKD 1,010,994 thousand, reflecting a decline of 50.3% year-over-year[6] - The company's total equity fell to HKD 501,134 thousand from HKD 989,245 thousand, a decrease of 49.3%[8] - The group's total liabilities decreased to HKD 78,616,000 in 2024 from HKD 78,616,000 in 2023[16] - The group had no long-term borrowings as of December 31, 2024, compared to approximately HKD 10,102,000 in 2023[73] Cash and Cash Equivalents - The company's cash and cash equivalents dropped to HKD 66,253 thousand from HKD 173,342 thousand, a decrease of 61.8%[6] - As of December 31, 2024, the group's bank balance and cash amounted to approximately HKD 66,253,000, representing 12.8% of total assets, down from 16.2% in 2023[73] Investments - The company’s investment in Shanghai Hongpeng Energy Technology Co., Ltd. represented 10% ownership, with a fair value of HKD 21,283,000 as of December 31, 2024[32] - The company holds a 14.46% stake in Huayin International Holdings Limited, with a market value of HKD 19,798,000 and an unrealized loss of HKD 59,394,000[67] - The investment portfolio is diversified across property development, construction, environmental protection, clean energy, and innovative technology[66] - The company’s investment strategy is categorized into long-term holdings, mid-term private equity, and short-term trading of securities and other financial instruments[66] Dividends - The group did not declare any dividends for the year, consistent with the previous year[23] - The board does not recommend a final dividend for the year ending December 31, 2024, consistent with no dividend in 2023[72] Employee and Administrative Expenses - Administrative expenses decreased to HKD 110,605 thousand from HKD 118,969 thousand, a reduction of 7.8%[3] - The group incurred employee benefits expenses totaling HKD 31,245,000 in 2024, a decrease from HKD 33,975,000 in 2023[19] - As of December 31, 2024, the company had 6 employees, a decrease from 28 employees in 2023[81] Governance and Compliance - The company is in the process of appointing a new chairman to comply with governance standards, as the position has been vacant since February 2023[85] - The audit committee, composed of independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2024, and recommended their approval to the board[89] - The company confirmed compliance with all applicable corporate governance code provisions for the year ending December 31, 2024, with noted exceptions[84] Market Conditions - The geopolitical and economic uncertainties, particularly between the US and China, are expected to continue impacting global markets and supply chains[61] - The company plans to adopt a cautious strategy to manage its investment portfolio in a highly uncertain environment[79]
鼎益丰控股(00612) - 2024 - 年度业绩