Financial Performance - Revenue decreased by approximately 5.8% from about $44.4 million in the year ended December 31, 2023, to approximately $41.8 million in the year ended December 31, 2024[3]. - Profit for the year ended December 31, 2024, was approximately $2.7 million, an increase of about 34.2% compared to approximately $2.0 million for the year ended December 31, 2023[3]. - Gross profit for the year ended December 31, 2024, was approximately $17.5 million, compared to approximately $17.1 million for the previous year[4]. - Basic and diluted earnings per share for the year ended December 31, 2024, were both $0.18, up from $0.13 in the previous year[4]. - The company reported a total comprehensive income of approximately $2.6 million for the year ended December 31, 2024, compared to approximately $2.1 million for the previous year[6]. - The group reported a net profit of $2,655,000 for the year ending December 31, 2024, compared to $1,978,000 in 2023, reflecting a growth of 34.3%[19][21]. - The pre-tax profit for 2024 was $2,655,000, compared to $1,978,000 in 2023, indicating a growth of 34.3%[35]. Revenue Breakdown - For the fiscal year ending December 31, 2024, the total revenue from external customers was $41,777,000, a decrease of 5.5% compared to $44,355,000 in 2023[23]. - The segment revenue from the cultural entertainment division was $22,550,000, which is a decrease of 15.6% from $26,728,000 in the previous year[19][21]. - Revenue from a major customer, identified as Customer A, in the trading and supply chain management services segment was $8,118,000 in 2024, up from $6,552,000 in 2023, reflecting a growth of 23.9%[25]. - Product sales increased to $18,771,000 in 2024 from $11,188,000 in 2023, representing a growth of 67.5%[27]. - Commission income rose to $10,153,000 in 2024, compared to $9,870,000 in 2023, an increase of 2.9%[27]. - Internet value-added services revenue decreased significantly to $12,853,000 in 2024 from $23,297,000 in 2023, a decline of 44.5%[27]. - The cultural entertainment segment's revenue declined by approximately 15.6% to about $22.6 million[53]. - Online entertainment revenue fell by approximately 44.8% to about $12.9 million, while merchandise sales surged by approximately 182.6% to about $9.7 million[54]. Assets and Liabilities - Total assets decreased from approximately $29.4 million in 2023 to approximately $28.0 million in 2024[8]. - Current assets increased from approximately $27.3 million in 2023 to approximately $28.6 million in 2024[8]. - Total liabilities decreased from approximately $15.2 million in 2023 to approximately $13.6 million in 2024[8]. - Net assets increased from approximately $13.3 million in 2023 to approximately $15.9 million in 2024[10]. - The total assets of the group as of December 31, 2024, amounted to $30,009,000, a slight increase from $29,416,000 in 2023[19][21]. - The group’s total liabilities as of December 31, 2024, were $14,087,000, an increase from $16,087,000 in 2023[19][21]. Operational Efficiency - The cost of goods sold for the trading and supply chain management segment was $8,213,000, which is an increase from $7,035,000 in the previous year[19][21]. - The cost of goods sold for 2024 was $13,946,000, up from $9,648,000 in 2023, reflecting a 44.5% increase[30]. - The operating expenses for the year were approximately $15.5 million, a decrease of about 2.3% from the previous year[45]. - The group’s employee benefit expenses totaled $11,112,000 for the year ending December 31, 2024, compared to $10,527,000 in 2023, marking an increase of 5.5%[19][21]. - Total employee costs for the year ended December 31, 2024, were approximately $11,800,000, compared to $11,000,000 in 2023[58]. Dividend and Shareholder Information - The board of directors does not recommend the payment of a final dividend for the year ended December 31, 2024[3]. - The company did not recommend any final dividend for the year ending December 31, 2024[32]. - The annual report for 2024 will be sent to shareholders and made available on the company’s website[74]. Future Outlook and Strategy - The company anticipates significant challenges in 2025 due to increased tariffs on Chinese imports, which may reverse progress made in controlling inflation[60]. - The group is focusing on expanding its procurement network outside of China, particularly targeting offshore markets and manufacturers with overseas production capabilities[60]. - The company is exploring potential acquisitions and investment opportunities to strengthen and diversify its business[61]. - The group plans to maintain strict cost control and efficiency measures to enhance productivity and operational efficiency[63]. Governance and Compliance - The group’s consolidated financial statements for the year ending December 31, 2024, have been confirmed by the auditor, Roshan Mei CPA[67]. - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[69]. - The company has adopted the corporate governance code and has been compliant with all applicable provisions as of December 31, 2024[71]. - The company has established written guidelines for employees regarding securities trading, ensuring adherence to the standard code[73]. Cash and Receivables - As of December 31, 2024, the company had cash and cash equivalents of approximately $21.1 million, up from about $20.1 million the previous year[55]. - The current ratio improved to approximately 2.1 from 1.8 in the previous year, indicating better liquidity[55]. - Accounts receivable as of December 31, 2024, amounted to approximately $3,900,000, with over 90 days of receivables totaling about $1,300,000 under close management[57]. - Trade receivables at the end of 2024 amounted to $4,531,000, a slight decrease from $4,599,000 in 2023[39]. - Trade payables at the end of 2024 were $1,449,000, down from $1,502,000 in 2023[40].
道和环球(00915) - 2024 - 年度业绩