Revenue and Profitability - Revenue for the year ended December 31, 2024, increased to HKD 262,770,000, up 21.4% from HKD 216,555,000 in 2023[4] - Gross profit rose to HKD 68,594,000, representing a 42.3% increase compared to HKD 48,180,000 in the previous year[4] - The company reported a net loss of HKD 2,364,000 for 2024, significantly improved from a loss of HKD 18,537,000 in 2023[4] - Basic and diluted loss per share improved to HKD 0.05 from HKD 0.36 in the previous year[5] - Revenue from golf equipment and related components increased to HKD 240,569,000 in 2024 from HKD 194,369,000 in 2023, representing a growth of 23.8%[25] - The golf equipment division's profit increased over 100% to approximately HKD 25,363,000 in 2024, compared to HKD 11,288,000 in 2023[39] - Major customer A contributed HKD 216,714,000 in revenue from golf equipment and bags in 2024, significantly up from HKD 95,983,000 in 2023[24] Assets and Liabilities - Total assets decreased slightly to HKD 291,471,000 from HKD 289,135,000 year-over-year[6] - Current assets increased to HKD 171,325,000, up from HKD 149,678,000 in 2023, indicating improved liquidity[6] - The company’s total liabilities increased to HKD 108,501,000 from HKD 99,198,000, reflecting higher trade payables[6] - The total assets of the group increased to HKD 399,972,000 in 2024 from HKD 388,333,000 in 2023, reflecting a growth of 3.9%[19] - The group reported a total liability of HKD 172,360,000 in 2024, up from HKD 158,061,000 in 2023, representing an increase of 9.0%[19] - Trade receivables as of December 31, 2024, amounted to approximately HKD 30,731,000, up from HKD 13,502,000 in 2023, reflecting a growth of about 127.7%[10] - Trade payables increased to HKD 23,991,000 in 2024 from HKD 21,660,000 in 2023, representing an increase of about 10.8%[32] Financial Performance and Expenses - Total financial expenses decreased to HKD 8,451,000 in 2024 from HKD 10,508,000 in 2023, a reduction of 19.6%[26] - Employee costs rose to HKD 73,362,000 in 2024 from HKD 68,324,000 in 2023, an increase of 7.5%[27] - Depreciation of property, plant, and equipment was HKD 5,471,000 in 2024, slightly down from HKD 5,531,000 in 2023[27] - The group recognized inventory write-downs of HKD 1,579,000 in 2024, compared to no such provisions in 2023[27] - Interest income increased to HKD 2,300,000 in 2024 from HKD 1,524,000 in 2023, a growth of 50.8%[25] Market and Strategic Outlook - Revenue from the North American market surged to HKD 88,388,000 in 2024, a substantial increase of 62% from HKD 54,608,000 in 2023[21] - The company plans to enhance its product offerings and expand its market presence, particularly in the North American and European regions[20] - The group remains cautious about the future outlook for the golf equipment business due to ongoing market uncertainties and challenges[39] Corporate Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial results[9] - The group has implemented strict cost control measures at its Shandong production facility to enhance production efficiency and reduce manufacturing costs[38] - The company complied with all applicable provisions of the Corporate Governance Code during the year ending December 31, 2024, with certain deviations noted[60] - The company adopted the standard code of conduct for directors' securities transactions and confirmed compliance by all directors for the year ending December 31, 2024[61] - The auditor, Deloitte (Hong Kong) Limited, confirmed that the financial figures disclosed in the performance announcement align with the group's consolidated financial statements for the year ending December 31, 2024[62] Employment and Workforce - The group employed approximately 680 employees as of December 31, 2024, compared to 550 employees in 2023, reflecting a growth of 23.6%[57] Dividends and Shareholder Information - No dividends were declared or proposed for the year ending December 31, 2024, consistent with 2023[30] - The company's annual report for 2024 will be made available to shareholders and published on the Hong Kong Stock Exchange website and the company's website[63]
顺龙控股(00361) - 2024 - 年度业绩