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昇柏控股(02340) - 2024 - 年度业绩
ISP HOLDINGSISP HOLDINGS(HK:02340)2025-03-24 12:57

Financial Performance - ISP Holdings Limited reported total revenue of HKD 105,492,000 for the year ended December 31, 2024, a decrease of 31.8% compared to HKD 154,715,000 in 2023[3]. - The gross profit for the year was HKD 9,303,000, down 29.1% from HKD 13,095,000 in the previous year[3]. - The company recorded a net loss of HKD 33,539,000 for 2024, which is a significant increase of 120.2% compared to a net loss of HKD 15,244,000 in 2023[4]. - Operating loss for 2024 was HKD 39,604,000, compared to an operating loss of HKD 16,767,000 in 2023, indicating a significant increase in losses[23]. - The company reported a pre-tax loss of HKD 33,538,000 for 2024, compared to a pre-tax loss of HKD 15,447,000 in 2023[30]. - The company reported a loss attributable to ordinary shareholders of HKD 33,539,000 for 2024, compared to a loss of HKD 15,244,000 in 2023, representing a year-over-year increase of 120% in losses[38]. - The basic loss per share for the year was HKD 0.079, compared to HKD 0.036 in 2023, indicating a worsening of the loss per share by 119.4%[4]. - The diluted loss per share for 2024 was HKD 6.6, compared to HKD 3.0 in 2023, reflecting a 120% increase in diluted loss per share[38]. Assets and Liabilities - Total assets decreased to HKD 295,659,000 in 2024 from HKD 346,528,000 in 2023, reflecting a decline of 14.7%[6]. - The company's cash and cash equivalents dropped to HKD 21,590,000 in 2024, down 68.3% from HKD 68,241,000 in 2023[6]. - The total equity attributable to the company's shareholders decreased to HKD 150,306,000 in 2024, down 18.5% from HKD 184,428,000 in 2023[8]. - The company’s non-current assets totaled HKD 1,897,000 in 2024, down 8.4% from HKD 2,072,000 in 2023[6]. - Current liabilities decreased to HKD 146,813,000 from HKD 163,493,000, showing a decline of approximately 10.2%[70]. - The current ratio remained stable at 2.0, slightly down from 2.1 in the previous year, indicating a strong liquidity position[70]. Income and Expenses - The company incurred administrative expenses primarily related to corporate and administrative activities, totaling HKD 48,907,000 in 2024[23]. - Employee costs, including director remuneration, decreased to HKD 42,388,000 in 2024 from HKD 48,029,000 in 2023[30]. - Operating expenses increased by 63.5% to approximately HKD 48.9 million, leading to an operating loss of HKD 39.6 million, up 135.7% from HKD 16.8 million in 2023[51]. Business Segments - The interior decoration and special projects business generated revenue of HKD 98.7 million, down 34.3% from HKD 150.3 million in 2023, while the China property and facilities management business saw a revenue increase of 54.5% to HKD 6.8 million[54]. - The interior decoration and special projects business accounted for over 90% of the company's revenue, having completed over 261 projects since its inception[55]. - The company faced challenges in the interior decoration and special projects business due to high vacancy rates and decreased consumer spending, leading to a cautious bidding strategy[57]. - Operating expenses for the interior decoration and special projects business increased significantly due to arbitration and legal costs, contributing to a loss of approximately HKD 33.6 million for that segment[58]. - The property and facility management business in China recorded revenue of approximately HKD 6,800,000, an increase of 54.5% compared to HKD 4,400,000 last year[64]. - The gross profit for the property and facility management business was approximately HKD 4,500,000, up 12.5% from HKD 4,000,000 last year[64]. Future Outlook - The company anticipates challenges in the construction industry and global economic environment, affecting bidding numbers and client budgets[61]. - The Chief Executive's policy report indicates approximately 60,000 housing units are expected to be completed in the next five years, which may boost demand for construction and renovation projects[61]. - The company remains optimistic about market opportunities and growth potential in the interior decoration and special projects business for 2025[63]. - The company anticipates that recent market improvements and new contracts will provide a solid foundation for future growth, although most new contracts will only commence in the second half of 2024[57]. Shareholder Information - The company did not declare any dividends for the years ending December 31, 2024, and 2023[35]. - The company did not recommend a final dividend for the reporting year, consistent with the previous year[50]. - The group has no outstanding bank loans as of December 31, 2024, relying primarily on retained earnings from operating activities for funding[68]. - The company is undergoing a capital restructuring involving a reduction of the nominal value of shares from HKD 0.1 to HKD 0.01, aimed at providing greater flexibility for future share issuance[77].