Financial Performance - Revenue for the year ended December 31, 2024, was HKD 414,100,000, an increase of 0.1% compared to HKD 413,800,000 in 2023[2] - Loss attributable to shareholders decreased by 84% to HKD 136,700,000 from HKD 853,700,000 in the previous year[2] - Total comprehensive loss for the year was HKD 133,468,000, down from HKD 570,594,000 in the previous year[6] - The company reported a profit before investment property fair value changes of HKD 201,854,000, compared to HKD 197,889,000 in 2023, an increase of 2.0%[4] - The group reported total external revenue of HKD 414,134,000 for the year ended December 31, 2024, with property investment contributing HKD 206,045,000, hotel operations HKD 181,993,000, and financial investments HKD 26,096,000[19] Assets and Liabilities - Net asset value attributable to shareholders as of December 31, 2024, was HKD 8,357,300,000, with a net asset value per share of HKD 13.9[2] - Non-current assets totaled HKD 8,181,077,000, a decrease from HKD 8,402,629,000 in 2023[7] - Current liabilities decreased to HKD 1,408,884,000 from HKD 2,469,005,000, a reduction of 43%[8] - Total equity as of December 31, 2024, was HKD 3,923,454,000, down from HKD 4,087,028,000 in 2023[8] - The company's total liabilities decreased to HKD 152.3 million in 2024 from HKD 201.8 million in 2023[35] Revenue Segments - Total income from investment property rentals was HKD 206,045,000, up from HKD 193,904,000 in 2023, representing an increase of 6%[4] - Hotel operations revenue decreased to HKD 181,993,000 from HKD 202,697,000, a decline of 10.2%[4] - The group's total segment profit amounted to HKD 237,813,000, with property development generating HKD 10,332,000, property investment HKD 182,044,000, hotel operations HKD 22,283,000, and financial investments HKD 23,154,000[19] - For the year ending December 31, 2023, the property investment segment reported external revenue of HKD 202,697,000, while the hotel operations segment generated HKD 17,189,000, contributing to a total external revenue of HKD 413,790,000[20] Financial Investments - The financial investment segment strategy focuses on generating stable returns through periodic investments in fixed-income securities[18] - As of December 31, 2024, the group's financial investments amounted to approximately HKD 246.2 million, an increase from HKD 200.3 million in the previous year[47] - Interest income from listed debt securities and time deposits is anticipated to rise to HKD 24,167,000 in 2024, compared to HKD 16,656,000 in 2023, marking an increase of approximately 45.5%[23] Financing and Debt - The group incurred a financing cost of HKD 365,141,000, leading to a pre-tax loss of HKD 137,679,000 for the reporting period[19] - The financing costs decreased to HKD 365,141,000 in 2024 from HKD 378,568,000 in 2023, representing a reduction of about 3.5%[27] - The group's net debt as of December 31, 2024, is HKD 3.95 billion, down from HKD 4.77 billion in the previous year, with a debt-to-asset ratio of 31.4%[51] - Total bank borrowings as of December 31, 2024, amounted to HKD 4,424,300,000, a decrease from HKD 5,100,100,000 in 2023[53] Corporate Governance and Reporting - The group has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the current and prior years[12] - The group has not early adopted several new and revised Hong Kong Financial Reporting Standards that are expected to come into effect in the future, indicating a cautious approach to regulatory changes[14] - The group is currently evaluating the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements, which will affect the presentation of the income statement and future disclosures[15] - The company has adhered to the corporate governance code principles as per the listing rules during the year ending December 31, 2024[58] Future Outlook - The forecast for global economic growth in 2025 and 2026 is 3.3%, according to the International Monetary Fund[55] - China's economy is projected to grow by 5% in 2024, aligning with the government's official target[55] - The UK economy unexpectedly grew by 0.1% in the fourth quarter of 2024, with expectations for further interest rate cuts[56] Dividends and Shareholder Information - The total dividend declared for the year 2024 is HKD 30,106,000, consistent with the total dividend declared in 2023[28] - The company plans to propose a final dividend of HKD 0.03 per share, maintaining the same level as in 2023, leading to a total dividend of HKD 0.05 per share for the year[36] - The annual report for 2024 will be sent to shareholders in April 2025 and will be available on the Hong Kong Stock Exchange website[61] Acknowledgments - The company expresses gratitude to its founders, long-term business partners, clients, and shareholders for their contributions and efforts during the year[62]
爪哇控股(00251) - 2024 - 年度业绩