Financial Performance - The group's total revenue for the fiscal year ended December 31, 2024, decreased by 1.8% to HKD 189.0 million compared to the previous fiscal year[4]. - Gross profit for the fiscal year increased by 23.0% to HKD 66.0 million compared to the previous fiscal year[4]. - The company recorded a loss attributable to owners of HKD 62.0 million for the fiscal year, an improvement from a loss of HKD 113.7 million in the previous fiscal year[4]. - Basic loss per share for the fiscal year was HKD 0.02, compared to HKD 0.05 in the previous fiscal year[4]. - The group's operating loss for the fiscal year was HKD 56.7 million, significantly reduced from HKD 131.0 million in the previous fiscal year[5]. - Total comprehensive loss for the fiscal year amounted to HKD 65.5 million, compared to HKD 125.1 million in the previous fiscal year[6]. - The company reported a total loss of HKD 62,016,000 for the year ended December 31, 2024, compared to a loss of HKD 113,654,000 in the previous year, indicating a reduction in losses by approximately 45%[8]. - The company reported a net loss of HKD 117,260,000 for the year, with a significant provision for loan losses amounting to HKD 55,217,000[19]. - The company reported a loss attributable to shareholders of HKD 61,970,000 for 2024, compared to a loss of HKD 113,654,000 in 2023, indicating a 45.5% improvement in losses year-over-year[32]. Equity and Assets - As of December 31, 2024, total equity attributable to owners was HKD 1,639.0 million, down from HKD 1,705.7 million in the previous year[4]. - Total equity attributable to owners decreased to HKD 1,635,419,000 as of December 31, 2024, down from HKD 1,700,878,000 at the beginning of the year, reflecting a decline of about 3.85%[8]. - Non-current assets as of December 31, 2024, totaled HKD 516.7 million, slightly up from HKD 507.9 million in the previous year[7]. - Current assets decreased to HKD 584.9 million from HKD 745.2 million in the previous year, primarily due to a reduction in trade and other receivables[7]. - The total assets as of December 31, 2023, were HKD 2,103,286,000, while total liabilities stood at HKD 402,408,000[20]. - The company’s total liabilities increased by 27.1% from the previous year, indicating a rise in financial obligations[20]. - The current ratio as of December 31, 2024, was 5.3 times, an increase from 4.4 times in 2023, indicating improved liquidity[69]. - The debt-to-equity ratio as of December 31, 2024, was 19.4%, down from 23.7% in 2023, reflecting a decrease in leverage[69]. Revenue Segments - Revenue from the Information Appliances segment was HKD 134,235,000, while the IDC segment generated HKD 54,800,000, contributing to a total segment revenue of HKD 262,065,000 for the year[17]. - Revenue from product sales decreased to HKD 134,235,000 in 2024, down 12.3% from HKD 152,988,000 in 2023[24]. - IDC rental income increased to HKD 54,800,000 in 2024, up 38.4% from HKD 39,581,000 in 2023[24]. - The information appliance business recorded revenue of HKD 134.2 million for the fiscal year ending December 31, 2024, a decrease of 11.9% compared to HKD 152.5 million in the previous fiscal year[51]. - The IDC business generated revenue of HKD 54.8 million for the fiscal year 2024, an increase of 38.5% compared to HKD 39.5 million in 2023, turning a loss of HKD 3.0 million into a profit of HKD 23.7 million[53]. Expenses and Costs - The company incurred a depreciation expense of HKD 38,216,000 for property, plant, and equipment[20]. - Distribution and selling expenses increased by 60.2% to HKD 8.3 million, primarily due to one-time severance costs of HKD 2.7 million related to downsizing the information appliance sales team[62]. - General and administrative expenses slightly decreased by 0.8% to HKD 121.6 million, excluding one-time severance costs of HKD 13.7 million, reflecting strict cost control measures[63]. - Research and development costs (excluding employee costs) increased significantly to HKD 12,079,000 in 2024 from HKD 1,501,000 in 2023[26]. Investments and Loans - The company confirmed a total of RMB 86,000,000 (equivalent to HKD 96,272,000) as receivable loans under current assets, with accrued interest of HKD 18,693,000, and recognized a loss provision of HKD 114,965,000 for impaired receivables[39]. - A loan of HKD 60,000,000 was extended to an independent third party, with accrued interest of HKD 1,504,000, and a loss provision of HKD 51,106,000 was recognized, reflecting an increase from HKD 32,557,000 in the previous year[40]. - The company has a loan provision of HKD 218,897,000 in 2024, up from HKD 198,104,000 in 2023, indicating a 10.5% increase in provisions[38]. Corporate Governance and Compliance - The group emphasizes high standards of corporate governance, applying the relevant codes from the GEM Listing Rules[97]. - The group has adopted GEM Listing Rules as guidelines for directors' securities transactions, confirming compliance for the year ending December 31, 2024[96]. - The audit committee held four meetings during the review year to oversee financial reporting and risk management systems[93]. - The group’s operations must comply with applicable laws and regulations in China, Hong Kong, and the United States, and it has maintained compliance in all major areas during the year[91]. Market and Strategic Outlook - The company continues to explore opportunities in market expansion and new product development to enhance future performance[17]. - The company is facing market challenges due to technological changes in the information appliance sector and is focusing on developing new appliance products to diversify revenue sources[52]. - The company plans to continue monitoring the investment environment and the volatility of cryptocurrencies in the upcoming year[57]. - The group is actively monitoring risks related to global political and regulatory changes that could impact its operations and financial performance[90]. Environmental and Social Responsibility - The group is committed to environmental protection and has not generated significant waste or air pollutants[89].
裕兴科技(08005) - 2024 - 年度业绩