Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 81,200,000, a decrease of about 8.9% compared to HKD 89,100,000 for the year ended December 31, 2023[3] - The loss attributable to the company's owners for the year ended December 31, 2024, was approximately HKD 25,700,000, a reduction of about 27.2% from HKD 35,300,000 for the year ended December 31, 2023[3] - The total comprehensive loss for the year was HKD 26,545,000, compared to HKD 35,283,000 in the previous year[6] - The group's gross profit for the year was HKD 5,169,000, slightly up from HKD 5,063,000 in the previous year[5] - The overall revenue for the group decreased to HKD 81,212,000 in 2024 from HKD 89,075,000 in 2023, indicating a decrease of approximately 8.8%[20] - The company reported a basic and diluted loss per share of HKD 13.0 for the year ended December 31, 2024, compared to HKD 17.9 in the previous year[5] - Basic loss per share for 2024 was HKD 0.13, based on a loss attributable to owners of approximately HKD 25,650,000, compared to HKD 35,253,000 in 2023[33] - The group reported a net loss of HKD 5,340,000 for the year, an improvement from a loss of HKD 7,986,000 in the previous year[28] Revenue Breakdown - The total revenue for the telecommunications services segment decreased to HKD 78,871,000 in 2024 from HKD 86,683,000 in 2023, representing a decline of approximately 9.3%[20] - The total revenue for the information technology business segment decreased to HKD 997,000 in 2024 from HKD 1,048,000 in 2023, reflecting a decline of about 4.9%[20] - Revenue from China increased significantly by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[45] - Revenue from Singapore rose by approximately 11.5% from about HKD 48,000,000 to about HKD 53,500,000[47] - Revenue from Hong Kong plummeted by approximately 84.9% from about HKD 21,900,000 to about HKD 3,300,000[47] - Telecommunications business revenue decreased by approximately 9.0% from about HKD 86,700,000 to about HKD 78,900,000[50] - GPS service revenue increased by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[50] - IT services revenue dropped by approximately 50.0% from about HKD 1,000,000 to about HKD 500,000[52] Assets and Liabilities - The group's total assets less current liabilities amounted to HKD 4,387,000 as of December 31, 2024, down from HKD 33,000,000 in the previous year[9] - The company's current liabilities exceeded current assets by HKD 42,949,000 as of December 31, 2024[8] - The total assets of the group decreased to HKD 67,082,000 in 2024 from HKD 73,614,000 in 2023, a reduction of approximately 8.9%[24] - The total liabilities of the group increased to HKD (66,043,000) in 2024 from HKD (46,030,000) in 2023, representing an increase of about 43.5%[24] - The debt-to-asset ratio increased to approximately 3,655.6% as of December 31, 2024, compared to about 53.3% in the previous year, primarily due to an increase in loans from a director and operating losses[69] Operational Strategies - The company plans to enhance measures to improve operational funding and cash flow, including close monitoring of administrative expenses and operating costs[14] - The company is seeking additional financial support, including loans or issuing additional equity or bonds[14] - The group aims to enhance operational efficiency and shareholder value through targeted measures and prudent strategies in response to expected business growth[59] - The group plans to allocate resources to establish a base for providing IT services in China, anticipating rapid growth in demand for related services[60] Dividends and Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2024[3] - The company did not recommend any dividends for the years ending December 31, 2024, and 2023[32] - The board of directors includes two executive directors and three independent non-executive directors[95] Employee and Operational Costs - The total employee cost for the year was approximately HKD 13,600,000, down from approximately HKD 14,500,000 in 2023, with 26 employees hired as of December 31, 2024, compared to 28 in the previous year[76] - The pre-tax loss for the year was impacted by total employee costs of HKD 13,610,000, down from HKD 14,499,000 in the previous year[30] Financial Reporting Standards - The group has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the current and prior years[15] - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[18] - The group has not early adopted any new Hong Kong Financial Reporting Standards that have been issued but are not yet effective[16]
长城天下(00524) - 2024 - 年度业绩