Financial Performance - For the year ended December 31, 2024, the company reported total revenue of HKD 54,639,000, an increase of 6.4% from HKD 51,340,000 in 2023[3] - The cost of goods sold for 2024 was HKD 36,241,000, compared to HKD 30,215,000 in 2023, resulting in a gross profit of HKD 18,398,000, down 13.0% from HKD 21,125,000[3] - The net profit for the year was HKD 326,317,000, a significant increase from HKD 12,511,000 in 2023[3] - Basic and diluted earnings per share for 2024 were HKD 1.00, compared to HKD 0.038 in 2023[3] - Gross profit for the year was HKD 184 million, down from HKD 211 million in 2023, resulting in a gross margin of 33.7%, compared to 41.1% in the previous year[30] - The net profit attributable to the company's owners was HKD 326.3 million, significantly up from HKD 12.5 million in 2023, primarily due to a one-time gain from debt restructuring[30] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 49,812,000, up from HKD 35,098,000 in 2023[4] - The company reported a net asset value of HKD 2,456,000 in 2024, a recovery from a net liability of HKD 323,861,000 in 2023[4] - The total liabilities of the group as of December 31, 2024, were HKD 52,211,000, with reported segment liabilities of HKD 31,703,000[15] - As of December 31, 2024, total assets were valued at HKD 547 million, a decrease from HKD 561 million in 2023, while net assets were HKD 25 million, compared to a net liability of HKD 323.9 million in 2023[31] - The total borrowings amounted to HKD 33.1 million, down from HKD 290.8 million in 2023, which included HKD 230 million in loans and HKD 60.8 million in bonds payable[31] Operational Highlights - Inventory increased to HKD 4,781,000 in 2024 from HKD 2,830,000 in 2023, indicating a growth of 68.8%[4] - Trade receivables rose significantly to HKD 16,739,000 in 2024 from HKD 7,108,000 in 2023, marking an increase of 135.5%[4] - The adjusted profit before tax for the medical and health segment was HKD 12,265,000 for 2024, compared to HKD 11,308,000 in 2023, reflecting an increase of 8.5%[15] - The average credit period for trade receivables remained at 90 days, with trade receivables increasing to HKD 16.7 million in 2024 from HKD 7.1 million in 2023[25] Debt and Financing - The company recognized a debt restructuring gain of HKD 328,026,000 in 2024, which was not present in 2023[3] - The company incurred financing costs of HKD 1,321,000 in 2024, a significant decrease from HKD 12,940,000 in 2023, indicating improved financial management[19] - The company has no outstanding bonds as of 2024, compared to HKD 60.8 million in 2023[26] Governance and Risk Management - The company has adopted a set of corporate governance principles and practices to ensure effective risk management and internal control systems[39] - A Risk Management Committee was established in April 2023, consisting of two independent non-executive directors and one executive director, to continuously review and monitor the effectiveness of risk management and internal control systems[39] - The Audit Committee has reviewed the group's annual performance for the year ending December 31, 2024, including the accounting principles and practices adopted by the group[41] - The auditors confirmed that the preliminary announcement aligns with the audited consolidated financial statements approved by the board on March 25, 2025[42] Future Outlook - The group plans to focus on improving business models, increasing market penetration, and expanding product ranges to achieve organic growth despite ongoing economic challenges[33] - No capital raising activities were completed during the year ending December 31, 2024[34] - The company will publish its 2024 annual report, which will be sent to shareholders and made available on the company's and the stock exchange's websites[43]
京玖康疗(00648) - 2024 - 年度业绩