Financial Performance - For the year ending December 31, 2024, the company reported a net loss of HKD 148,208,089, compared to a loss of HKD 217,901,093 in the previous year, representing a 32% improvement in performance [2]. - The fair value loss on financial assets was HKD 160,581,789, an improvement from HKD 287,699,838 in the previous year, indicating a reduction of 44% [2]. - Basic and diluted loss per share improved to HKD 5.11 from HKD 7.51, a reduction of 31.9% [2]. - The company recorded a net loss before tax of HKD 148,097,697, an improvement from HKD 213,899,481 in the previous year, indicating a 30.8% reduction in losses [2]. - The company reported a basic and diluted loss attributable to owners of HKD 148,208,089 for the year ended December 31, 2024, compared to a loss of HKD 217,901,093 for the year ended December 31, 2023 [14]. - The company recorded a loss attributable to shareholders of approximately HKD 148.21 million for the year, compared to a loss of HKD 217.90 million in the previous year, primarily due to a fair value loss of financial assets of approximately HKD 160.58 million [19]. Assets and Equity - The company's total assets decreased from HKD 1,147,126,882 in 2023 to HKD 1,017,339,527 in 2024, a decline of approximately 11.3% [3]. - The company’s total equity decreased from HKD 1,142,334,121 in 2023 to HKD 994,126,032 in 2024, a decline of approximately 13% [3]. - The net asset value per share decreased to HKD 0.34 in 2024 from HKD 0.39 in 2023, based on a consolidated net asset value of HKD 994,126,032 [17]. - The company’s net asset value decreased to approximately HKD 994.13 million, down from approximately HKD 1,142.33 million in the previous year [19]. Cash and Financing - The company’s cash and cash equivalents increased significantly from HKD 86,451,484 in 2023 to HKD 317,280,983 in 2024, marking a growth of 267% [3]. - Financing income rose to HKD 5,701,056 from HKD 1,059,853, representing a significant increase of 437% [2]. - The financing income for the year was approximately HKD 5.70 million, compared to HKD 1.06 million in the previous year [19]. - The company maintained a debt-to-equity ratio of 0% as of December 31, 2024, indicating no borrowings, similar to the previous year [23]. - As of December 31, 2024, the group had no bank borrowings, maintaining a total debt to total assets ratio of approximately 0% [47]. Expenses - Total general and administrative expenses increased to HKD 16,337,183 in 2024 from HKD 12,680,283 in 2023, reflecting a significant rise in employee benefits and professional fees [10]. - The general and administrative expenses for the year amounted to approximately HKD 16.34 million, an increase from approximately HKD 12.68 million in the previous year, mainly due to higher business and management costs [19]. - The total employee cost for the year was approximately HKD 9.32 million, an increase from HKD 7.65 million in 2023 [46]. Dividends - The company has not declared or proposed any dividends for the year ended December 31, 2024, consistent with the previous year [12]. - No dividends are recommended for the current year, consistent with the previous year [54]. Business Operations - The company’s primary business is investment holding, with all revenue generated from operations based in Hong Kong [9]. - The company has no identified major customers due to the nature of its investment holding operations [9]. - The company’s non-current assets, excluding financial assets, are located in Hong Kong, which is also its main operational base [9]. - The company has been actively seeking quality investment opportunities in logistics infrastructure, advanced manufacturing, and new energy sectors [49]. - Management believes the business environment is challenging and complex, and plans to diversify investments across various sectors including logistics, information technology, and renewable energy [50]. Corporate Governance - The company has adhered to all principles and rules of the Corporate Governance Code, except for the absence of an executive director since June 30, 2022, which deviates from the requirement for a balanced board composition [58]. - The Audit Committee consists entirely of non-executive directors and has reviewed the group's performance for the year 2024, recommending approval to the board [62]. - The company is actively seeking suitable candidates to fill the vacancy of the executive director and will announce updates as necessary [58]. - The company has adopted the standard code for directors' securities transactions and confirmed compliance throughout the year [60]. - The board will continuously review and improve the company's corporate governance practices to ensure proper regulation of business activities and decision-making processes [59]. Investments - The company invested USD 25.7 million in Meicai, which focuses on providing a one-stop procurement service for restaurants and grocery stores [32]. - The group anticipates that investments in G7 and Meicai will enhance market advantages in logistics, information technology, advanced manufacturing, and new energy sectors [31]. - G7 agreed to invest $25 million in newly issued preferred shares to strengthen its position in the IoT logistics sector, focusing on providing integrated SaaS services [35]. - The company invested RMB 130 million in Yimi Dida, a leading zero-load express network service provider, to expand its logistics ecosystem [37]. - Jitu Express completed a D-round equity financing in 2023, increasing its indirect shareholding to 2,663,871 preferred shares, and is set to enhance its service quality and brand image through overseas business expansion [39]. Market and Future Outlook - The privatization of Best Group is expected to be completed by the end of Q1 2025, with an estimated consideration of approximately USD 478,000 [30]. - Best Group aims to create a one-stop logistics and supply chain service platform, having established a nationwide logistics distribution network and expanded operations in seven countries [42]. - Jinko Technology's revenue primarily comes from electricity charges and design, procurement, and construction services, with expectations for overall performance in 2025 to meet forecasts [45]. - The company aims to leverage national development bank resources to enhance efficiency and governance in its investments [31]. - Meicai achieved breakeven this year through optimizing business structure and improving organizational efficiency, maintaining stable and high-quality development in the restaurant supply chain [33].
国开国际投资(01062) - 2024 - 年度业绩