Financial Performance - Revenue for the year ended December 31, 2024, was HKD 2,340,040,000, a decrease of 14% compared to HKD 2,709,164,000 in 2023[2] - Gross profit decreased by 8% to HKD 908,802,000 from HKD 992,177,000[2] - Adjusted net profit fell by 54% to HKD 233,439,000 from HKD 512,670,000[2] - Basic earnings per share decreased by 66% to HKD 0.057 from HKD 0.169[3] - Net profit for the year was HKD 176,554,000, down from HKD 514,374,000 in the previous year, representing a decline of approximately 66%[17] - EBITDA for the fiscal year was HKD 172,840,000, compared to HKD 300,875,000 in 2023, reflecting a decrease of 43%[15] - The consolidated revenue for the year 2024 was HKD 2,340,000,000, a decrease of 14% compared to 2023, primarily due to declines in payment and digital service revenues[30] - The group reported a net profit of HKD 176,554,000 for the year ended December 31, 2024, compared to HKD 514,374,000 for the year ended December 31, 2023, reflecting a significant decline of 65.7%[90][92] Assets and Liabilities - Total assets decreased by 9% to HKD 11,858,778,000 from HKD 13,031,718,000[3] - Total liabilities decreased to HKD 4,135,902,000 from HKD 5,253,700,000, indicating a reduction of approximately 21.2%[18] - Total liabilities decreased to HKD 3,976,415,000 in 2024 from HKD 5,121,080,000 in 2023, with accounts payable dropping significantly[47] - The total assets as of December 31, 2024, were HKD 11,858,778,000, down from HKD 13,031,718,000 in 2023[18] Cash and Equivalents - Cash and cash equivalents were HKD 3,011,300,000, down from HKD 3,482,000,000 in 2023[6] - Total cash and cash equivalents, including restricted bank balances, decreased to HKD 5,605,195,000 in 2024 from HKD 7,024,334,000 in 2023[45] - Cash and cash equivalents decreased to HKD 3,011,282,000 from HKD 3,482,016,000, a reduction of approximately 13.5%[19] Segment Performance - The payment and digital services segment reported revenue of HKD 1,749,898,000, a decline of 12% from HKD 1,994,129,000 in 2023[22] - The company reported a net loss of HKD 20,631,000 in the fintech services segment, compared to a profit of HKD 47,748,000 in 2023[15] - The financial technology services segment reported revenue of HKD 87,800,000 for 2024, down 56% from HKD 198,300,000 in 2023, attributed to a decrease in loan volumes[24] - The platform operation solutions segment generated revenue of HKD 145,300,000 in 2024, a 12% decline from HKD 166,000,000 in 2023, with an operating loss of HKD 20,900,000[25] - The financial solutions segment achieved revenue of HKD 273,900,000 in 2024, down 10% from HKD 304,600,000 in 2023, but turned an operating profit of HKD 9,200,000 compared to a loss in the previous year[26] Employee and Operational Metrics - The total number of employees as of December 31, 2024, was 2,411[13] - Total employee benefits expenses, including director remuneration, remained stable at HKD 946,907,000 compared to HKD 945,914,000, showing a slight increase of 0.1%[96] Investments and Acquisitions - The company had no major acquisitions or disposals of subsidiaries during the year[10] - The company holds a 34.3% equity interest in PAX Global Technology Limited, valued at approximately HKD 1,954,700,000, which is below its book value[37] - The company reduced its equity interest in Dian San San from 70% to 49% through an investment agreement, resulting in Dian San San no longer being a subsidiary[144] Research and Development - The group is progressing well with various R&D projects, focusing on cost reduction across its product lines[41] - Research and development costs increased from HKD 303,079,000 to HKD 345,677,000, representing a growth of about 14%[96] Market Outlook and Strategy - The company is actively expanding its management services, platforms, and cross-border business despite short-term pressures during the digital transformation phase[23] - The company anticipates stable development in the information security chip market in 2025, despite potential policy impacts from the payment market[41] - The company plans to continue its digital payment strategy, with digital payment volume expected to grow over 30% year-on-year in 2024[58] Governance and Compliance - The company has adopted corporate governance practices in accordance with the principles and code provisions set out in the Listing Rules Appendix C1, ensuring compliance for the fiscal year ending December 31, 2024[154] - The audit committee has reviewed the accounting policies adopted by the group and the audited consolidated financial statements for the year ending December 31, 2024[156] Shareholder Information - The company did not declare or pay any dividends for the year ended December 31, 2024, consistent with 2023[109] - The company repurchased a total of 10,388,000 ordinary shares in 2024, compared to 13,759,000 shares in 2023, with 10,388,000 shares subsequently canceled within the year[122]
高阳科技(00818) - 2024 - 年度业绩