Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 70,432,000, a slight increase from HKD 70,189,000 in 2023, representing a growth of 0.35%[5] - The cost of sales increased significantly to HKD 85,488,000 from HKD 65,092,000, resulting in a gross loss of HKD 15,056,000 compared to a gross profit of HKD 5,097,000 in the previous year[5] - Operating loss for the year was HKD 63,839,000, which is a substantial increase from the operating loss of HKD 29,890,000 in 2023, indicating a deterioration in operational performance[5] - The total comprehensive loss for the year amounted to HKD 72,238,000, compared to a total comprehensive loss of HKD 16,279,000 in 2023, reflecting a significant decline in overall financial health[6] - The company reported a basic and diluted loss per share of HKD 4.12 for the year, compared to a loss of HKD 1.17 per share in 2023, indicating a worsening loss per share situation[6] - The company reported a loss attributable to shareholders of HKD 61,940,000 for the year 2024, compared to a loss of HKD 17,520,000 in 2023, indicating a significant decline in performance[22] - The basic and diluted loss per share for continuing operations was HKD (3.86) in 2024, compared to HKD (2.21) in 2023, reflecting a worsening financial situation[22] - The net loss from continuing operations was HKD 57,960,000, an increase of HKD 24,762,000 compared to the loss of HKD 33,198,000 in 2023[41] Assets and Liabilities - The company's total assets decreased to HKD 474,324,000 from HKD 545,081,000, indicating a reduction of approximately 12.97% year-over-year[7] - Current assets also saw a decline, totaling HKD 236,689,000 compared to HKD 273,435,000 in 2023, a decrease of about 13.43%[7] - The total liabilities remained relatively stable at HKD 238,374,000, slightly increasing from HKD 236,893,000 in the previous year[8] - The equity attributable to the company's owners decreased to HKD 358,266,000 from HKD 432,883,000, a decline of approximately 17.2%[7] Revenue Sources - For the year ending December 31, 2024, total revenue from external customers amounted to HKD 70,432,000, with HKD 25,677,000 from Interactive Entertainment and Digital Assets, and HKD 44,755,000 from Sports New Space[16] - Revenue from continuing operations for the year ended December 31, 2024, was HKD 70,432,000, a slight increase from HKD 70,189,000 in 2023, primarily due to a decrease in rental income and currency exchange rate fluctuations[33] Expenses - The company reported a total of HKD 46,727,000 in employee benefit expenses for the year ending December 31, 2024[19] - Distribution and selling expenses increased to HKD 16,967,000 in 2024, up from HKD 8,863,000 in 2023, mainly due to higher marketing costs for animated film releases[36] - Administrative expenses decreased to HKD 31,017,000 in 2024 from HKD 33,064,000 in 2023, attributed to reduced professional service fees and office operating costs[37] - The company continues to incur costs related to discontinued operations, with a reported loss of HKD 5,852,000 from discontinued operations in 2024[26] Government Grants and Tax - The company recognized a tax credit of HKD 6,381,000 for the year, contrasting with a tax expense of HKD 3,303,000 in the previous year, which may provide some relief in the overall loss[5] - The company reported a total of HKD 5,942,000 in government grants for the year ending December 31, 2024, an increase from HKD 2,049,000 in 2023[20] Legal and Compliance - The company has ongoing legal disputes related to the cultural industry park, with provisions for rental and settlement amounts totaling HKD 138,225,000 as of December 31, 2024[30] - The company has adopted corporate governance codes in compliance with GEM listing rules, with some deviations noted[63] Future Plans and Developments - The original marine-themed animated film series is in mid-production, expected to be completed by the end of March 2025[52] - The company aims to enhance its AIGC production technology to achieve more efficient, precise, and low-cost video content production, solidifying its leading position in the industry[58] - The company plans to produce one to two animated films annually, focusing on themes like marine exploration and local cultural stories[58] - The company is committed to becoming a leading digital asset management group in China through continuous technological and scenario enhancements[58] Shareholder Actions - The company has repurchased and canceled 260,000 shares, aimed at increasing net asset value and earnings per share for shareholders[62] - The company did not declare any dividends for the years ended December 31, 2024, and 2023, indicating a focus on retaining cash[24][32] Market Position and Partnerships - The company has become a supplier for leading industry players such as Qualcomm, Huawei, and Tencent, enhancing its presence in the interactive entertainment and digital asset sectors[51] - The company continues to optimize talent and technology to enhance business quality while actively expanding its market presence[58] Miscellaneous - The company is currently assessing the impact of new accounting standards and interpretations but has not identified any significant effects on its financial performance or position[12] - The company has not engaged in any significant acquisitions, disposals, or investments during the fiscal year ending December 31, 2024[46] - Cash and cash equivalents as of December 31, 2024, were HKD 223,713,000, down from HKD 248,039,000 in 2023, with a current ratio of 1.05 compared to 1.27 in 2023[43] - The company has no significant foreign exchange risks, with a 3.5% decline in the RMB settlement rate compared to the end of 2023, resulting in an additional exchange loss of HKD 8,426,000[48] - The company has developed a digital virtual human product based on advanced technologies such as AI voice recognition and high-precision motion capture systems[56] - The company has submitted 26 government project applications and completed 20 software copyright registrations, receiving multiple awards for its technological innovations[54] - The occupancy rate of the Shenzhen Global Digital Building remains high, providing financial support for the company's business transformation[55] - The annual general meeting is scheduled for May 23, 2025, with a suspension of share transfer registration from May 20 to May 23, 2025[68][69] - The company will publish its 2024 annual report at an appropriate time, following the announcement of its 2024 year-end results[70]
环球数码创意(08271) - 2024 - 年度业绩