Financial Performance - Revenue for the year ended December 31, 2024, was approximately HKD 415.3 million, an increase of about HKD 92.0 million or 28.5% compared to HKD 323.3 million for the year ended December 31, 2023[4] - Gross profit for the year ended December 31, 2024, was HKD 23.1 million, a decrease of 13.3% from HKD 26.6 million in the previous year[4] - Profit attributable to owners of the company for the year ended December 31, 2024, was approximately HKD 2.1 million, down 71.2% from HKD 7.4 million in 2023[4] - The group’s total segment revenue for the year ending December 31, 2024, is projected to be HKD 415.332 million, with a segment profit of HKD 23.056 million[19] - The group's profit for the year decreased by approximately 72.1% from about HKD 7.4 million to approximately HKD 2.1 million, primarily due to reduced gross profit margin and higher administrative expenses[47] Dividends and Shareholder Information - The board proposed a final dividend of HKD 0.01 per share, totaling HKD 14.6 million, subject to shareholder approval[4] - The company proposed a final dividend of HKD 0.01 per share for the year 2023, totaling HKD 14,646,000, pending approval at the 2025 Annual General Meeting[78] - The company will hold its Annual General Meeting on May 14, 2025, where the proposed dividend will be discussed[78] - The record date for the proposed final dividend is set for May 28, 2025, subject to shareholder approval[84] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 346.5 million, compared to HKD 284.3 million in 2023[6] - Total liabilities as of December 31, 2024, were HKD 207.9 million, an increase from HKD 143.6 million in 2023[6] - The company's net asset value as of December 31, 2024, was HKD 150.2 million, down from HKD 152.5 million in 2023[6] - Cash and cash equivalents increased to HKD 58.7 million in 2024 from HKD 45.8 million in 2023[6] Revenue Breakdown - Revenue from housing equipment engineering increased to HKD 402.315 million in 2024, up from HKD 309.008 million in 2023, representing a growth of approximately 30%[16] - The group’s maintenance, repair, and other services generated revenue of HKD 13.017 million in 2024, down from HKD 14.299 million in 2023, reflecting a decrease of about 8.9%[16] - The expected revenue from uncompleted customer contracts at the end of the reporting period is HKD 329.647 million for 2023 and HKD 285.227 million for 2024, showing a year-on-year increase of approximately 15.6%[16] Expenses and Costs - The group’s administrative expenses for the period were reported at HKD 22.361 million, indicating a significant cost management focus[19] - The company reported a significant increase in material costs, with total costs rising to HKD 113,254,000 in 2024 from HKD 87,549,000 in 2023, an increase of approximately 29.3%[24] - Employee costs for the year were approximately HKD 63.4 million, slightly up from HKD 63.1 million in 2023, with a total of 113 employees as of December 31, 2024[60] Financial Standards and Compliance - The new Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2024, are expected to have no significant impact on the group's financial position and performance[7] - The group is currently evaluating the impact of the newly issued HKFRS and its amendments, which are anticipated to not cause any major effects on the financial statements[10] - The group has not early adopted any new HKFRS or amendments that are not yet effective during the reporting period[8] - The group has complied with all applicable corporate governance codes and standards this year[75] Share Repurchase and Capital Management - The company repurchased a total of 58,170,000 ordinary shares at an approximate cost of HKD 4,339,000, reducing the total issued shares to 1,464,600,000[80] - The repurchase was conducted to demonstrate confidence in the company's business outlook and to create value for shareholders[80] - The total cost of the repurchase transactions, including fees and taxes, was approximately HKD 80,000[80] Auditor and Governance - The external auditor, Deloitte Touche Tohmatsu, will be proposed for reappointment at the 2025 Annual General Meeting[82] - The audit committee was established on September 10, 2015, consisting of three independent non-executive directors[85] - The audit committee reviewed the consolidated financial statements for the year, confirming compliance with applicable accounting standards and listing rules[86] Future Outlook - Future outlook includes potential market expansion within Hong Kong, as all operations and revenue generation are currently localized[22] - The group anticipates that the number of properties under construction and maintenance in Hong Kong will continue to drive growth in the building services industry[39]
立基工程控股(01690) - 2024 - 年度业绩