Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 519,699,000, a decrease of 46% compared to HKD 961,291,000 in the previous year[2] - The cost of sales for the same period was HKD 490,029,000, resulting in a gross profit of HKD 29,670,000, compared to a gross loss of HKD 35,603,000 in the previous year[2] - The net profit attributable to the company's owners for the year was HKD 1,311,000, a significant recovery from a net loss of HKD 52,705,000 in the previous year[2] - The basic and diluted earnings per share improved to HKD 0.77 from a loss of HKD 31.10 in the previous year[2] - The company reported other income of HKD 243,000 for the year ended December 31, 2024, compared to HKD 69,000 in 2023, indicating a significant increase[32] - The net other losses for the year ended December 31, 2024, amounted to HKD 12,828,000, compared to HKD 548,000 in 2023, reflecting a substantial increase in losses[33] - The financing costs for the year ended December 31, 2024, were HKD 23,000, down from HKD 43,000 in 2023, showing a decrease in financing expenses[34] - The company reported a profit attributable to owners of HKD 1,311,000 in 2024, a significant recovery from a loss of HKD 52,705,000 in 2023[39] - The gross profit for the year was approximately HKD 29.7 million, a turnaround from a gross loss of HKD 35.8 million in 2023, resulting in a gross margin of 5.7% compared to a gross loss margin of 3.7% in the previous year[54][56] Assets and Liabilities - The company's total assets decreased to HKD 407,309,000 from HKD 478,117,000, reflecting a decline of approximately 15%[5] - Current assets were reported at HKD 386,155,000, down from HKD 451,652,000, indicating a reduction of about 14%[5] - The company's total equity increased slightly to HKD 385,570,000 from HKD 384,114,000, showing a marginal growth of 0.4%[5] - Trade receivables, net of impairment, amounted to HKD 98,746,000 in 2024, compared to zero in 2023, indicating an increase in credit sales[44] - As of December 31, 2024, the current ratio was approximately 18.1 times, up from 4.8 times in 2023[59] - Total assets as of December 31, 2024, were approximately HKD 407.3 million, down from HKD 478.1 million in 2023[59] - The company's capital debt ratio was approximately 5.3% as of December 31, 2024, compared to 19.7% in 2023[59] - Inventory held as of December 31, 2024, was approximately HKD 188.7 million, down from HKD 329.8 million in 2023[62] - Trade receivables amounted to approximately HKD 98.7 million as of December 31, 2024, with an expected credit loss provision of approximately HKD 0.3 million[65] - Cash and cash equivalents were approximately HKD 23.3 million as of December 31, 2024, compared to HKD 19.5 million in 2023[66] - The company had no borrowings as of December 31, 2024[67] Business Operations - The company is primarily engaged in the sale of health products and electronic components, with a focus on expanding its market presence[9] - The company has focused solely on the electronic components business in 2024, with no sales from health products and food[52] - The company completed the sale of its entire interest in Hong Wang Holdings Limited on November 28, 2024[70] - The company has adopted a diversified strategy to optimize product structure and supply chain, aiming for stable business operations amid industry fluctuations[54] - The company is actively developing its healthcare business and exploring opportunities for collaboration with industry peers, focusing on various health products and foods[81] - The company aims to maintain a diversified product category and customer base strategy to uncover new business opportunities[81] - The company will monitor market changes and adjust strategies as needed to enhance profitability and resilience against risks, while striving to deliver substantial returns to investors[81] Future Outlook - The company has not yet applied any new accounting standards that are effective for the fiscal year starting January 1, 2024, which may impact future financial reporting[16] - The company is currently assessing the impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements, which may lead to significant changes in presentation and disclosure[20] - The company anticipates that the demand for ICs and NAND flash wafers will fluctuate in the second half of 2024, impacting overall pricing trends[53] - Strong demand in the smartphone and server markets is anticipated to significantly boost memory demand, with AI-enabled smart devices likely accelerating replacement cycles in the mid to long term[81] - The gradual development of advanced technologies such as third-generation semiconductor materials, 5G, AI, and automotive electronics is expected to create new growth opportunities in the electronic components industry[81] Dividends and Shareholder Returns - The company did not recommend any dividends for the years ended December 31, 2024, and 2023[43] - The board does not recommend the payment of a final dividend for the year[75] - The basic earnings per share for the year ended December 31, 2024, will be calculated based on the profit attributable to the owners of the company and the weighted average number of ordinary shares issued[38] - The company adopted a stock option plan effective from June 27, 2024, which is valid for ten years, but no stock options have been granted under this plan to date, resulting in a zero impact on the weighted average number of shares issued this year[77] Segment Reporting - The company has identified its reportable segments based on the internal reports reviewed by the executive directors, focusing on different product lines[22] - The company has no inter-segment sales for the years ended December 31, 2024, and 2023, indicating that all revenue is generated from external customers in Hong Kong[30] - The company has not presented segment assets and liabilities as these amounts are not regularly reviewed by the chief operating decision maker for resource allocation and performance assessment[29]
前海健康(00911) - 2024 - 年度业绩