Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 401,303,000, a decrease of 11.7% compared to HKD 454,250,000 in 2023[6] - The total value of new contracts signed and supplementary contracts for continuing operations was HKD 328,379,000, down 41.1% from HKD 557,812,000 in 2023[6] - The total amount of contracts on hand for continuing operations decreased by 14.0% to HKD 1,199,382,000 from HKD 1,393,992,000 in 2023[6] - The annual loss for continuing operations was HKD 14,419,000, an improvement from a loss of HKD 34,068,000 in 2023[6] - Basic and diluted loss per share for the year was HKD 0.0515, compared to HKD 0.0737 in 2023[8] - The total comprehensive loss for the year was HKD 18,932,000, compared to HKD 25,062,000 in 2023[8] - The total revenue from continuing operations for the year ended December 31, 2024, is HKD 339,060,000, a decrease from HKD 395,708,000 in 2023[28] - Other income for the year 2024 is HKD 5,481,000, down from HKD 6,669,000 in 2023, with a significant drop in government grants from HKD 3,926,000 to HKD 2,557,000[27] - The pre-tax loss from continuing operations for 2024 is HKD 278,110,000, compared to HKD 325,950,000 in 2023[28] - The company reported a net loss of HKD 885,000 for the year, a decrease from a tax credit of HKD 2,614,000 in 2023[30] - The basic and diluted loss attributable to shareholders for 2024 was HKD 14,851,000, compared to HKD 21,240,000 in 2023, indicating an improvement in losses[35] Revenue Breakdown - The revenue from the construction design services segment was HKD 406.54 million, while the BIM services segment generated HKD 78.46 million, contributing to a total segment revenue of HKD 554.66 million[17] - The company’s external customer revenue from Hong Kong was HKD 141.54 million, down from HKD 174.48 million in 2022, reflecting a decline of about 18.9%[20] - The Middle East and North Africa region saw an increase in external customer revenue to HKD 64.71 million from HKD 53.52 million, marking a growth of approximately 20.5%[20] - Revenue from mainland China decreased by HKD 36,139,000, a decline of 17.5%, while revenue from Hong Kong fell by HKD 32,941,000, a decrease of 18.9%[44] Assets and Liabilities - Non-current assets totaled HKD 151,450,000, a slight decrease from HKD 156,707,000 in 2023[9] - Current assets decreased to HKD 468,435,000 from HKD 526,491,000 in 2023[9] - The total equity attributable to owners of the company was HKD 396,407,000, down from HKD 415,771,000 in 2023[9] - Trade receivables amounted to HKD 143,694,000, down from HKD 187,206,000 in 2023, with a provision for impairment of HKD 12,145,000[37] - The company’s interest expense on bank loans increased to HKD 5,527,000 in 2024 from HKD 4,447,000 in 2023[28] - The capital debt ratio was 21.8% as of December 31, 2024, compared to 21.3% in 2023, indicating a slight increase in leverage[51] Operational Highlights - The company has a single operating segment focused on integrated construction services, with no significant changes in the classification of liabilities following the adoption of revised accounting standards[14][15] - The company is actively exploring transformation opportunities to adapt to future business models and seek potential investment prospects amid ongoing market challenges[42] - The company plans to focus on green smart building development and expand its footprint in key markets including mainland China, Hong Kong, and the MENA region[53] - The company has allocated HKD 54.3 million for enhancing IT infrastructure and increasing working capital, and HKD 30.0 million for potential investment opportunities, including smart city projects[56] Employee and Governance - As of December 31, 2024, the group employed approximately 615 full-time employees, a decrease from 710 in 2023[67] - The group provides competitive compensation and benefits, including retirement plans and medical insurance[67] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance with the relevant standards[71] - The company has adhered to the corporate governance code as per the listing rules as of December 31, 2024[72] - The audit committee reviewed the group's financial and accounting policies, confirming compliance with applicable accounting standards[73] - The independent auditor confirmed that the financial statements align with the draft financial reports for the year ended December 31, 2024[74] Dividends and Shareholder Information - The company did not propose a final dividend for the year, consistent with 2023[5] - The company did not recommend or pay any final dividends for the years ended December 31, 2024, and 2023[36] - The annual report for the year ended December 31, 2024, will be sent to shareholders and published on the company's website[75]
思城控股(01486) - 2024 - 年度业绩