Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 480,035, a decrease of 2.3% compared to HKD 491,112 in 2023[2] - Gross profit for the same period was HKD 355,251, down 1.0% from HKD 358,928 in 2023[2] - Operating profit decreased by 13.9% to HKD 109,429 from HKD 127,116 in the previous year[2] - EBITDA fell by 28.0% to HKD 90,276 compared to HKD 125,465 in 2023[2] - Net profit attributable to shareholders was HKD 6,010, a significant decline of 87.7% from HKD 48,588 in 2023[2] - The company reported a total comprehensive income of HKD 11,530 for the year, down from HKD 60,624 in 2023[3] - Reportable segment profit for the year ended December 31, 2024, was HKD 15,375,000, down from HKD 60,269,000 in 2023, indicating a decrease of about 74.5%[30] - The company reported a net loss of HKD 15,783,000 in 2024, compared to a net gain of HKD 9,394,000 in 2023[38] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 958,622, down 4.4% from HKD 1,003,720 in 2023[2] - Net assets decreased by 1.7% to HKD 349,892 from HKD 356,127 in the previous year[2] - The debt-to-asset ratio improved to 164.6% from 170.0% in 2023, a decrease of 5.4%[2] - Non-current liabilities decreased from HKD 413,582,000 in 2023 to HKD 271,686,000 in 2024, representing a reduction of approximately 34.2%[5] - Total liabilities decreased from HKD 647,593,000 in 2023 to HKD 608,730,000 in 2024, a decline of about 6.0%[5] - Current liabilities exceeded current assets by approximately HKD 245,263,000, indicating potential liquidity concerns[9] - The group's interest-bearing borrowings decreased from HKD 312,314,000 in 2023 to HKD 179,068,000 in 2024, a reduction of about 42.6%[5] Revenue Segments - Food and Beverage segment revenue in Macau, Hong Kong, and Mainland China was HKD 339,996 thousand for 2024, down from HKD 367,487 thousand in 2023, representing a decrease of approximately 7.5%[20] - Food souvenir sales increased to HKD 119,953 thousand in 2024 from HKD 103,634 thousand in 2023, marking a growth of about 15.8%[20] - Rental income from property investment was HKD 20,086 thousand in 2024, slightly up from HKD 19,991 thousand in 2023, showing a marginal increase of about 0.5%[20] - The food and beverage segment reported a loss of HKD 5,166,000 for the year ended December 31, 2024, compared to a profit of HKD 21,342,000 in 2023, indicating a significant downturn[30] - The industrial catering segment reported revenue of approximately HKD 15.3 million, a decrease of 6.1% from HKD 16.3 million in the previous year, primarily due to reduced lunch service provision to schools[57] - The wholesale food business generated revenue of approximately HKD 9.0 million, down about 23.7% from HKD 11.8 million in the previous year, attributed to a decrease in overall sales to customers[58] Shareholder Information - The company did not declare any interim or final dividends for the year ended December 31, 2024[42] - The company will hold its 2025 Annual General Meeting on June 9, 2025, with related documents to be sent to shareholders around April 29, 2025[83] - Shareholders intending to attend the annual general meeting are encouraged to submit proxy forms at least 48 hours prior to the meeting[71] Compliance and Governance - The company has complied with the corporate governance code, with one exception regarding the attendance of an independent non-executive director at the annual general meeting[75] - The audit committee, consisting of three independent non-executive directors, reviewed significant accounting policies and estimates[74] Future Outlook - The company expects to benefit from the recovery of tourism in Macau and Hong Kong, despite facing challenges such as economic slowdown and rising operational costs[78] - The company plans to leverage technology to optimize processes and cost management, enhancing operational efficiency and profitability[79] - The company is committed to advancing its environmental, social, and governance goals, including reducing carbon footprint and investing in talent development[79]
FUTURE BRIGHT(00703) - 2024 - 年度业绩