Financial Performance - The group's revenue reached a historic high of HKD 374.47 million, a significant increase of 78.6% compared to HKD 209.84 million last year[3]. - The operating profit from continuing operations was HKD 54.85 million, a turnaround from a loss of HKD 249.79 million in the previous year, marking the first profit since the strategic shift to digital assets in 2018[4]. - Total comprehensive income amounted to HKD 168 million, compared to a total comprehensive loss of HKD 265.90 million last year, indicating a successful recovery[3]. - The net loss before tax decreased to HKD 7.06 million from HKD 23.70 million, showing a positive trend in financial performance[4]. - The group achieved a gross profit margin of approximately 14.7% in the current fiscal year, compared to a negative margin in the previous year[4]. - The company reported a net income of HKD 54,846,000 for the year ending December 31, 2024, compared to a net loss of HKD 249,789,000 in the previous year, indicating a significant recovery[5]. - The basic earnings per share from continuing operations was HKD 0.09, compared to a loss of HKD 0.58 per share in the previous year, reflecting a positive turnaround in profitability[7]. - The company reported a significant increase in trade payables, which reached HKD 439,929 million, compared to HKD 883,779 million in the previous year[11]. Revenue Sources - Revenue from key customer A in the digital asset and blockchain platform business is projected to be HKD 78,016,000 for 2024, representing a significant contribution to the group's income[32]. - The group reported customer contract revenue of HKD 374,747,000 for 2024, an increase from HKD 209,837,000 in 2023, indicating strong growth in service offerings[33]. - The revenue from SaaS service fees and related income for 2024 is HKD 91,640,000, up from HKD 17,796,000 in 2023, reflecting a substantial increase in demand[33]. - The revenue from digital asset trading business was HKD 161.7 million, up from HKD 72.1 million in the previous fiscal year, reflecting a growth of 124.3%[73]. - Revenue from the digital asset market business rose by 73.3% to HKD 283.1 million, up from HKD 163.4 million in fiscal year 2023[80]. - Revenue from digital asset technology infrastructure services grew by 415.0% to HKD 91.6 million, compared to HKD 17.8 million in fiscal year 2023[81]. Asset and Liability Management - Total assets as of December 31, 2024, amounted to HKD 1,863,737,000, compared to HKD 1,440,786,000 in 2023, representing an increase of approximately 29.4%[9]. - The company reported a total of HKD 655,678,000 in receivables for 2024, compared to HKD 823,700,000 in 2023, showing a decrease of about 20.4%[9]. - The total liabilities for 2024 were not specified, but the significant growth in assets suggests a potential increase in leverage[9]. - Total liabilities amounted to HKD 1,045,696 million, a significant increase from HKD 579,371 million in the previous year[11]. - The company's total equity was HKD 395,090 million, a decrease from HKD 1,284,366 million in the previous year[13]. Strategic Initiatives - The company plans to expand its market presence and invest in new technologies to enhance its service offerings in the digital asset space[4]. - The company aims to leverage its blockchain platform to drive future growth and innovation in the digital asset market[4]. - The company plans to invest up to USD 30 million to promote the development of the PayFi ecosystem, focusing on payment services as a key growth area[63]. - The company is focusing on key markets in Southeast Asia, Europe, and the Middle East for future expansion efforts[64]. - The group is actively seeking global acquisition opportunities to accelerate its overseas expansion plans[111]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with all relevant standards[155]. - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting and internal controls[158]. - The company has confirmed compliance with the standards for securities trading by its directors as of December 31, 2024[154]. - The group continues to comply with strict regulatory requirements in various jurisdictions, including anti-money laundering and capital adequacy regulations[119]. Operational Efficiency - The group has implemented effective measures to enhance and optimize operational efficiency, contributing to the improved financial performance[86]. - The group aims to enhance operational efficiency to improve financial margins, including streamlining workflows and implementing centralized procurement processes[101]. - Employee costs for the year 2024 are projected to be HKD 192,891,000, compared to HKD 179,045,000 in 2023, reflecting an increase of approximately 7.5%[35]. - Other operating expenses for 2024 are estimated at HKD 106,882,000, up from HKD 96,955,000 in 2023, indicating an increase of about 10.5%[36]. Digital Asset Management - The total digital assets held by the group amounted to HKD 839,115,000 as of December 31, 2024, an increase from HKD 822,627,000 in 2023[44]. - The digital assets include proprietary digital assets valued at approximately HKD 590,712,000, an increase from HKD 184,564,000 in 2023[44]. - The fair value of digital assets held by OSL Digital Securities Limited as of December 31, 2024, is approximately HKD 5,004,094,000, a significant increase from HKD 874,731,000 in 2023[46]. - The group holds customer unwithdrawn digital assets primarily in wallet form to facilitate rapid transaction settlements and reduce settlement risks[122]. Acquisitions and Investments - The company acquired 81.38% of OSL Japan Limited for a total consideration of $10,830,000 (approximately HKD 84,472,000) through a share purchase agreement[17]. - The group completed the acquisition of MTrinity UAB and MultiExchange Canada Limited, expanding its European presence[141]. - The group has acquired an 81.38% stake in CoinBest Co., Ltd., a licensed cryptocurrency trading platform in Japan, now renamed OSL Japan[109]. Risk Management - The volatility of digital asset prices may significantly impact the group's performance, and management regularly reviews asset positions based on various factors[121]. - The group has implemented guidelines and risk control procedures to manage digital asset storage, including a dedicated digital asset wallet solution with comprehensive security monitoring and risk control measures[123]. - Business continuity and disaster recovery plans are in place to ensure operational resilience against external and internal threats[131].
BC科技集团(00863) - 2024 - 年度业绩