Financial Performance - The group's revenue decreased by approximately 32.5% to about HKD 781.7 million for the year, compared to HKD 1,158 million in the same period last year[5]. - The cost of revenue also decreased by approximately 32.6% to about HKD 774.1 million, down from HKD 1,148.9 million in the previous year[5]. - The group recorded a gross profit margin of approximately 1.0%, slightly up from 0.8% in the previous year[5]. - The group incurred a loss of approximately HKD 46.2 million for the year, compared to a profit of HKD 53.5 million in the previous year[6]. - Basic loss per share was HKD 3.5, a decline from earnings of HKD 4.25 per share in the previous year[9]. - The group reported a net loss of HKD 494.1 million, compared to a net loss of HKD 446.98 million in the previous year[11]. - The total comprehensive income for the year was HKD 57,907,000, compared to a total comprehensive loss of HKD 45,128,000 in the previous year, reflecting a positive turnaround[12]. - The company reported a pre-tax loss of HKD 46,208,000 for the fiscal year ending December 31, 2024, compared to a pre-tax profit of HKD 53,489,000 in the previous year[32][33]. - The company reported a loss attributable to owners of HKD 45,090,000 in 2024 compared to a profit of HKD 54,715,000 in 2023, indicating a significant shift in performance[49]. Assets and Liabilities - Total assets less current liabilities amounted to a negative HKD 201.7 million, compared to negative HKD 233.8 million in the previous year[10]. - As of December 31, 2024, the company's total liabilities amounted to approximately HKD 494,149,000, an increase from HKD 446,983,000 in the previous year[15]. - The company has a net current liability of approximately HKD 344,755,000 as of December 31, 2024, down from HKD 390,688,000 in the previous year, indicating a slight improvement in liquidity[15]. - Total assets as of December 31, 2024, amounted to HKD 317,508,000, with total liabilities reaching HKD 811,657,000, indicating a significant leverage position[34]. - The company's total liabilities increased significantly, with trade payables dropping to HKD 10.2 million from HKD 194.3 million, and related party payables rising to HKD 314.96 million from HKD 50.32 million[60][13]. Financing and Costs - The group's financing costs were approximately HKD 21.7 million, down from HKD 33.9 million in the previous year[5]. - The company reported a significant increase in financing costs, totaling HKD 6,119,000 for the fiscal year ending December 31, 2024, compared to HKD 3,144,000 in the previous year[35][37]. - Financing costs decreased to HKD 21,731,000 in 2024 from HKD 33,874,000 in 2023, a reduction of approximately 36%[42]. Dividends and Shareholder Information - The board did not recommend any final dividend for the year, consistent with the previous year[7]. - The company did not recommend any dividend for the year ended December 31, 2024, consistent with the previous year[47]. - The major shareholder, Dafeng Port Development Group, holds 740,040,000 shares, representing 57.46% of the issued share capital[87]. Operational Insights - The trading segment generated revenue of HKD 769,032,000, while the storage segment contributed HKD 12,711,000, resulting in a total segment performance loss of HKD 24,241,000 for the year ending December 31, 2024[32]. - The geographical revenue breakdown shows that revenue from China was HKD 781,743,000, while revenue from Hong Kong was negligible in the fiscal year ending December 31, 2024[38]. - The company has a significant interest in various trading businesses, including coal, metals, and petrochemical products, through its subsidiaries[89]. Employee and Operational Costs - The total employee cost, including director remuneration, was approximately HKD 15,600,000 for the year, compared to HKD 14,600,000 in the previous year[77]. - As of December 31, 2024, the company employed a total of 90 employees, a decrease from 93 employees in the previous year[77]. Compliance and Governance - The audit committee, established on August 3, 2013, consists of three independent non-executive directors and is responsible for reviewing financial statements and overseeing the financial reporting system[94]. - The independent auditor, Fuhua Mazze CPA Limited, confirmed that the consolidated financial statements reflect the group's financial position as of December 31, 2024, in accordance with Hong Kong Financial Reporting Standards[96]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[93]. Future Outlook - The company anticipates a moderate recovery and growth in petrochemical products, while actively seeking new market drivers to balance short-term benefits with long-term development[67]. - The company expects to generate sufficient cash flow to maintain its operations in the foreseeable future[17].
大丰港(08310) - 2024 - 年度业绩