Financial Performance - Total revenue for the year ending December 31, 2024, is reported at HKD 191,635,000, a decrease of 12.6% compared to HKD 219,285,000 for the previous year[4] - Gross profit for the year is HKD 118,854,000, slightly down from HKD 120,355,000, indicating a gross margin of approximately 62.1%[5] - The company reported a net profit of HKD 42,434,000 for the year, up from HKD 37,648,000, reflecting a year-over-year increase of 12.5%[5] - Revenue from post-sale leasing arrangements was HKD 157,495,000, down 16.3% from HKD 188,021,000 in the previous year[4] - Revenue from supply chain management and financial technology services increased to HKD 29,976,000, up 11.3% from HKD 26,845,000[4] - Other income decreased to HKD 18,580,000 from HKD 20,535,000, a decline of 9.5%[5] - The company reported a net loss of HKD 36,776,000 for the year 2024, compared to a loss of HKD 26,399,000 in 2023, indicating a deterioration in financial performance[6] - Basic and diluted earnings per share for the company were HKD 0.72, down from HKD 0.81 in the previous year, reflecting a decrease of approximately 11.1%[6] Assets and Liabilities - Total assets of the company as of December 31, 2024, amounted to HKD 1,868,022,000, a decrease from HKD 1,914,701,000 in 2023, representing a decline of about 2.4%[7] - Non-current assets decreased to HKD 624,742,000 in 2024 from HKD 515,130,000 in 2023, showing an increase of approximately 21.2%[7] - Current assets totaled HKD 1,243,280,000 in 2024, down from HKD 1,399,571,000 in 2023, indicating a reduction of about 11.2%[7] - The company's total equity as of December 31, 2024, was HKD 1,731,044,000, compared to HKD 1,756,500,000 in 2023, reflecting a decrease of approximately 1.5%[7] - The company’s total liabilities increased to HKD 136,978,000 in 2024 from HKD 128,000,000 in 2023, indicating a rise of about 7.0%[7] - Total liabilities decreased from HKD 158,201 million to HKD 136,978 million, representing a reduction of approximately 13.9%[8] - Current liabilities amounted to HKD 129,465 million, down from HKD 115,229 million, indicating a decrease of approximately 11.7%[8] - Non-current liabilities decreased from HKD 28,736 million to HKD 21,749 million, reflecting a decline of about 24.3%[8] Revenue Segments - The company operates primarily in the sectors of sale-leaseback arrangements, property leasing services, and supply chain management[10] - For the fiscal year ending December 31, 2024, the total revenue from the after-sales leaseback arrangement service was HKD 157,495,000[17] - The revenue from supply chain management and financial technology business was HKD 29,976,000, while property leasing service generated HKD 4,164,000, leading to a total segment revenue of HKD 191,635,000[17] - The overall segment performance showed a profit of HKD 57,825,000, with the after-sales leaseback arrangement service contributing HKD 59,044,000 to the profit[17] - The company operates in three business segments: after-sales leaseback arrangement service, property leasing service, and supply chain management and financial technology business[15] Expenses and Costs - Administrative expenses increased to HKD 61,235,000 from HKD 55,593,000, representing an increase of 10.4%[5] - The company reported other income of HKD 20,395,000 for the fiscal year ending December 31, 2024[17] - The central administrative costs for the fiscal year ending December 31, 2024, were HKD 33,096,000[17] - The company continues to emphasize cost control in its after-sales leasing segment, contributing to improved gross profit margin[49] Strategic Initiatives - The company plans to expand its market presence and invest in new technologies to drive future growth[3] - The company aims to enhance its supply chain management capabilities to improve operational efficiency and profitability[3] - The company is committed to leveraging its competitive advantages in the steel industry and upstream and downstream customers to drive long-term growth[52] - The company is shifting resources from individual customers to corporate clients, reflecting a strategic change in business direction[49] - The company plans to focus on supply chain management and financial technology as future core businesses, enhancing the intelligence level of the Shougang Supply Chain Finance Platform[60] Corporate Governance - The company is a wholly-owned subsidiary of Wheeling Holdings Limited, which is under the direct supervision of a state-owned enterprise in China[9] - The registered office is located in Bermuda, with a primary business address in Hong Kong[9] - The company has complied with the corporate governance code as of December 31, 2024[78] - The board of directors is composed of key members including the chairperson and the general manager, indicating strong leadership structure[82] - The presence of multiple independent directors highlights the company's commitment to corporate governance and transparency[82] Future Outlook - The company is currently evaluating the impact of new accounting standards and interpretations, expecting no significant effect on the consolidated financial statements[14] - The company has adopted revised standards effective from January 1, 2024, which are expected to have no significant financial impact on the consolidated financial statements[12] - The company is likely to discuss future strategies and performance metrics in upcoming communications[82] - The announcement date is set for March 25, 2025, suggesting upcoming financial disclosures or strategic updates[82]
首惠产业金融(00730) - 2024 - 年度业绩