Financial Performance - Total revenue for the year ending December 31, 2024, was HKD 4,257.749 million, compared to HKD 264.037 million for the previous year, indicating a significant increase[3] - Gross profit for the year was HKD 76.999 million, down from HKD 81.429 million in the previous year, reflecting a decrease of approximately 5.3%[3] - The company reported a net loss of HKD 3,578 million for the year, slightly improved from a net loss of HKD 3,596 million in the previous year[4] - The basic and diluted loss per share was HKD 0.87, compared to HKD 0.82 in the previous year, indicating a slight increase in loss per share[4] - The total comprehensive loss for the year was HKD 4,093 million, compared to HKD 4,836 million in the previous year, showing a reduction in overall losses[4] - The company incurred other comprehensive losses of HKD 515 million due to foreign exchange differences, compared to HKD 1,240 million in the previous year[4] Revenue Breakdown - Total revenue for the year 2024 was HKD 257,749,000, a decrease of 2.4% from HKD 264,037,000 in 2023[16] - Revenue from the Chinese market was HKD 190,459,000 in 2024, down from HKD 212,584,000 in 2023, representing a decline of 10.4%[13] - Revenue from Hong Kong and Macau increased to HKD 61,725,000 in 2024, up from HKD 44,761,000 in 2023, showing a growth of 37.9%[13] - Major customer A contributed HKD 38,119,000 in 2024, down from HKD 67,183,000 in 2023, a decrease of 43.3%[15] - The company reported sales of heat imaging products at HKD 56,903,000 in 2024, slightly up from HKD 56,766,000 in 2023[16] - Revenue from self-stabilizing imaging products was HKD 56,416,000 in 2024, compared to HKD 44,120,000 in 2023, an increase of 28%[16] - Total revenue from general aviation products and services was HKD 128,881,000 in 2024, down from HKD 146,557,000 in 2023, a decline of 12%[16] Expenses and Costs - Selling and distribution expenses were HKD 35.223 million, up from HKD 33.313 million in the previous year, indicating an increase of approximately 5.7%[3] - Financial costs increased to HKD 38.044 million from HKD 6.552 million, reflecting a significant rise in financial expenses[3] - The cost of goods sold was HKD 173,646,000 for 2023, up from HKD 165,416,000 in 2022, reflecting a growth of about 5.5%[20] - Research and development expenses decreased from HKD 11,476,000 in 2022 to HKD 10,672,000 in 2023, a reduction of approximately 7.0%[20] - The group maintained a stable administrative expense of approximately HKD 38.5 million and HKD 38.0 million for the years ended December 31, 2023, and 2024, respectively[54] Assets and Liabilities - Total non-current assets increased to HKD 27,130 million in 2024 from HKD 22,799 million in 2023, representing an increase of approximately 19%[5] - Current assets decreased slightly to HKD 371,528 million in 2024 from HKD 386,015 million in 2023, a decline of about 4%[5] - Total current liabilities remained stable at HKD 65,065 million in 2024 compared to HKD 65,446 million in 2023, showing a marginal decrease[5] - Net current assets amounted to HKD 306,463 million in 2024, down from HKD 320,569 million in 2023, reflecting a decrease of around 4%[5] - Total assets less current liabilities stood at HKD 333,593 million in 2024, compared to HKD 343,368 million in 2023, indicating a decline of approximately 3%[5] - The company's equity attributable to shareholders remained unchanged at HKD 4,000 million in both 2024 and 2023[5] - Total equity decreased to HKD 327,553 million in 2024 from HKD 342,245 million in 2023, a reduction of about 4%[5] - The company’s total liabilities increased to HKD 65,065 million in 2024 from HKD 65,446 million in 2023, reflecting a slight decrease[5] Cash Flow and Financial Health - The company reported cash and cash equivalents of HKD 252,463 million in 2024, up from HKD 243,342 million in 2023, an increase of approximately 4%[5] - Net cash generated from operating activities was approximately HKD 30.0 million for the year ended December 31, 2024, compared to HKD 14.7 million for the year ended December 31, 2023[60] - The group maintained a healthy liquidity position, with net current assets of approximately HKD 306.5 million as of December 31, 2024, down from HKD 320.6 million the previous year[59] Taxation and Government Support - The effective tax rate for the group in Hong Kong remained at 16.5% for both 2022 and 2023[23] - In mainland China, the corporate income tax rate was set at 25% for the year 2023, with certain subsidiaries qualifying for a reduced rate of 20%[24] - The group recorded an income tax expense of approximately HKD 3.2 million for the year ended December 31, 2024, compared to an income tax credit of about HKD 0.8 million for the year ended December 31, 2023[57] - Government subsidies received amounted to HKD 223,000 in 2024, down from HKD 269,000 in 2023, representing a decrease of about 17.2%[19] Corporate Governance and Shareholder Information - The company has adopted high standards of corporate governance and has complied with all applicable corporate governance codes since its listing date[71] - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and risk management[73] - The annual general meeting of shareholders is scheduled for June 12, 2025[76] - The board of directors proposed a final dividend of HKD 1.35 per share and a special dividend of HKD 2.70 per share, totaling HKD 4.05 per share[77] - The proposed dividends are subject to approval at the annual general meeting scheduled for June 12, 2025, and are expected to be paid on or before July 8, 2025[78] Market Outlook and Strategic Initiatives - The company faces ongoing challenges in pricing pressure and economic uncertainties in a complex global environment[37] - The group anticipates significant potential in the general aviation sector and plans to focus on developing the value chain in mainland China[43] - The group expects global economic uncertainty due to geopolitical tensions and trade conflicts, which may impact financial markets and global trade stability[45] - The group established a new subsidiary in Malaysia in January 2025 to expand its business in East Asia and Southeast Asia markets[46]
彼岸控股(02885) - 2024 - 年度业绩