Financial Performance - The group's revenue for the fiscal year 2024 was approximately HKD 1,058,172,000, representing an increase of 28.2% compared to HKD 825,726,000 in fiscal year 2023[6] - The annual loss for the fiscal year 2024 was approximately HKD 3,655,000, compared to a loss of HKD 1,505,000 in fiscal year 2023, although it significantly decreased from a net loss of approximately HKD 11,100,000 recorded for the six months ending June 30, 2024[6] - The gross profit for the fiscal year 2024 was HKD 39,735,000, down from HKD 52,123,000 in fiscal year 2023[6] - The total comprehensive loss for the fiscal year 2024 amounted to HKD 7,763,000, compared to HKD 2,095,000 in fiscal year 2023[7] - The group reported a financing cost of HKD 3,529,000 for the fiscal year 2024, compared to HKD 2,476,000 in fiscal year 2023[6] - The company reported a loss attributable to owners of the company of HKD 3,655,000 in fiscal year 2024, compared to a loss of HKD 1,505,000 in fiscal year 2023[42] - The net loss for the year was reduced to approximately HKD 3,700,000 in fiscal year 2024, compared to a net loss of approximately HKD 1,500,000 in fiscal year 2023, and significantly down from HKD 11,100,000 recorded in the first half of fiscal year 2024[61] Revenue Breakdown - Revenue from air freight forwarding services increased to HKD 1,045,017 thousand in 2024, up from HKD 813,684 thousand in 2023, representing a growth of 28.5%[21] - Total revenue for the group reached HKD 1,058,172 thousand in 2024, compared to HKD 825,726 thousand in 2023, marking an increase of 28.1%[21] - Air freight forwarding revenue increased by approximately 28.4% to about HKD 1,045,000,000 in fiscal year 2024, up from HKD 813,700,000 in fiscal year 2023[53] - Sea freight forwarding revenue rose by approximately 9.2% to about HKD 13,200,000 in fiscal year 2024, compared to HKD 12,000,000 in fiscal year 2023[54] - Revenue from Europe for air freight forwarding services rose to HKD 398,780 thousand in 2024, up from HKD 259,571 thousand in 2023, an increase of 53.8%[31] Assets and Liabilities - The group's total assets less current liabilities as of December 31, 2024, were HKD 127,203,000, down from HKD 135,238,000 in the previous year[9] - The net asset value of the group as of December 31, 2024, was HKD 126,655,000, compared to HKD 134,418,000 in the previous year[9] - As of December 31, 2024, the debt-to-equity ratio was approximately 38.0%, down from 41.7% on December 31, 2023, with total debt of about HKD 48,200,000 and total equity of about HKD 126,700,000[64] - Interest-bearing borrowings amounted to approximately HKD 46,900,000 as of December 31, 2024, down from HKD 53,500,000 on December 31, 2023[68] Cash Flow and Receivables - The group's cash and bank balances increased to HKD 31,263,000 from HKD 25,911,000 in the previous year[9] - Trade and other receivables decreased to HKD 203,853,000 from HKD 219,709,000 in the previous year[9] - Trade receivables decreased to HKD 201,444,000 in fiscal year 2024 from HKD 217,168,000 in fiscal year 2023[44] - Trade receivables decreased by approximately 7.2% to about HKD 201,400,000 as of December 31, 2024, down from HKD 217,200,000 on December 31, 2023, with average collection days reduced to approximately 72.2 days[67] Dividends and Shareholder Information - The group did not recommend the payment of any final dividend for the fiscal year 2024[6] - No dividends were declared or proposed for both fiscal years 2024 and 2023[41] Operational Costs - Service costs increased by approximately 31.6% to about HKD 1,018,400,000 in fiscal year 2024, up from HKD 773,600,000 in fiscal year 2023[55] - Administrative and other operating expenses decreased by approximately 18.1% to about HKD 40,200,000 in the fiscal year 2024, down from HKD 49,000,000 in fiscal year 2023, due to strict cost control measures[58] - Financing costs increased by approximately 42.5% to about HKD 3,500,000 in fiscal year 2024, up from HKD 2,500,000 in fiscal year 2023, primarily due to increased operational and capital demands[59] Corporate Governance - The roles of Chairman and CEO are currently held by Mr. Zhao Tong, which the board believes provides strong and consistent leadership for the group's strategic planning and management[80] - The board will regularly review the necessity of appointing different individuals to the roles of Chairman and CEO to maintain good corporate governance[81] - The company has adopted a standard code of conduct for directors' securities trading, ensuring compliance with GEM Listing Rules[82] - The audit committee has reviewed the consolidated financial statements for the fiscal year 2024, confirming they are prepared in accordance with applicable accounting standards and GEM Listing Rules[84] - The company's auditor, Crowe (HK) CPA Limited, has verified the financial figures in the announcement align with the audited financial statements for the fiscal year 2024[85] Future Outlook - The outlook for 2025 indicates challenges due to ongoing trade tensions between the US and China, which may impact global trade and the demand for goods transportation[76] - The company does not anticipate any significant investments or capital asset plans as of December 31, 2024[71] Meeting and Reporting - The company will hold its annual general meeting on May 29, 2025, with a suspension of share transfer registration from May 23 to May 29, 2025[86] - The annual report for the fiscal year 2024 will be published on the stock exchange and the company's website at an appropriate time[88] - The board confirms that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[89]
裕程物流(08489) - 2024 - 年度业绩