Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 42,830,000, an increase from HKD 36,799,000 in the previous year, representing a growth of approximately 16.4%[2] - Other income for the year was HKD 1,521,000, compared to HKD 1,367,000 in the previous year, indicating an increase of about 11.3%[2] - The company reported a significant loss from fair value changes of financial assets amounting to HKD 223,400,000, which is a notable increase from the previous year's loss of HKD 0[2] - The net loss from financial assets at fair value was HKD 7,232,000, compared to a loss of HKD 3,647,000 in the previous year, reflecting a deterioration of approximately 97.5%[2] - The company experienced a loss of HKD 279,234,000 from its operating activities, which is a substantial increase from the previous year's loss of HKD 67,637,000[2] - The total operating expenses rose to HKD 88,407,000, compared to HKD 72,489,000 in the previous year, marking an increase of about 21.9%[2] - The financing costs for the year were HKD 14,737,000, up from HKD 13,513,000 in the previous year, indicating a rise of approximately 9.1%[2] - The company reported a total loss of HKD 295,056,000 for the fiscal year, compared to a loss of HKD 139,998,000 in the previous year[4] - The comprehensive loss for the year amounted to HKD 289,355,000, while the previous year's comprehensive loss was HKD 140,656,000[4] - The loss attributable to equity holders of the company was HKD 289,355,000, compared to HKD 138,858,000 in the prior year[4] - The company recorded a loss from continuing operations before tax of HKD 82,374,000, which is a significant decrease from HKD 292,747,000 in the previous year[3] - The loss from discontinued operations for the year was HKD 2,309,000, compared to HKD 61,259,000 in the previous year[3] - The basic and diluted loss per share for the year was HKD 97.9 cents, compared to HKD 46.1 cents in the previous year[3] - The total comprehensive loss for the year was HKD 289,355,000, compared to HKD 140,656,000 in the previous year[4] Assets and Liabilities - Non-current assets totaled HKD 382,073,000 as of December 31, 2024, compared to HKD 610,130,000 in 2023, representing a decrease of approximately 37.3%[5] - Current assets amounted to HKD 468,445,000 in 2024, down from HKD 499,184,000 in 2023, indicating a decline of about 6.2%[5] - Total liabilities reached HKD 584,698,000 in 2024, a decrease from HKD 607,511,000 in 2023, reflecting a reduction of approximately 3.8%[6] - The net asset value decreased to HKD 76,184,000 in 2024 from HKD 221,459,000 in 2023, showing a significant decline of around 65.6%[6] - Customer deposits increased to HKD 313,132,000 in 2024, compared to HKD 300,109,000 in 2023, marking a growth of approximately 4.3%[6] - The company reported a total of HKD 1,422,000 in property, plant, and equipment for 2024, down from HKD 2,586,000 in 2023, indicating a decrease of about 45%[5] - The total equity attributable to shareholders was HKD 76,184,000 in 2024, a significant drop from HKD 221,459,000 in 2023, representing a decline of approximately 65.6%[6] - The company’s financial assets at fair value amounted to HKD 39,651,000 in 2024, compared to HKD 46,996,000 in 2023, reflecting a decrease of about 15.5%[5] - The total current liabilities were HKD 584,698,000 in 2024, down from HKD 607,511,000 in 2023, indicating a reduction of approximately 3.8%[6] - The company’s cash and bank balances decreased to HKD 36,745,000 in 2024 from HKD 52,031,000 in 2023, representing a decline of about 29.3%[5] Future Outlook and Strategy - The company is focusing on expanding its market presence and exploring new strategies to enhance its financial performance in the upcoming fiscal year[2] - Future outlook remains cautious due to the significant losses reported, with a need for strategic adjustments to improve profitability[2] - The company is committed to ongoing research and development of new products and technologies to drive future growth[2] - The company is considering various alternatives to strengthen its capital base, including cost restructuring and seeking new investments[16] - The company has taken measures to improve its liquidity and financial condition, including discussions with banks for continued financing[11] - The group plans to focus more resources on improving the financial services segment's performance following the cessation of its media and jewelry businesses[77] - The group aims to diversify its revenue sources by expanding into asset and wealth management, corporate advisory, and insurance businesses[77] - The group intends to leverage artificial intelligence to enhance traditional financial services and improve operational efficiency, customer experience, and cost reduction[78] - The group will continue to adopt a prudent approach in reviewing business strategies and optimizing business models to enhance operational efficiency[77] Shareholder Information - The board has decided not to declare a final dividend for the year 2024, compared to no dividend declared for 2023[79] - The Annual General Meeting for 2025 is scheduled for June 17, 2025, at 11:00 AM[88] - Share registration will be temporarily suspended from June 11, 2025, to June 17, 2025, to determine shareholder eligibility for the AGM[89] - The company's annual report for 2024 will be made available to shareholders and on the respective websites at an appropriate time[90] Business Operations - The group decided to terminate its media publishing and financial public relations services to better allocate resources[26] - The group ceased publication of "Marie Claire" and "JESSICA" magazines starting April 2024, selling related assets for HKD 320,000 to JK Ventures Limited[27] - The group sold all shares of ZYC Holding Group Limited and ZYC Holding No.1 Limited for HKD 1 to an independent third party in September 2024[27] - The subsidiary Nanjing Baoqing Jewelry Co., Ltd. ceased its jewelry business as of November 2023 to better allocate resources[29] - The group has terminated its media business, resulting in a revenue of HKD 5,100,000 and a pre-tax loss of HKD 2,300,000 for the reporting period[65] Compliance and Governance - The company has established an Audit Committee consisting of three independent non-executive directors, ensuring compliance with listing rules and adequate disclosure of financial performance[86] - The preliminary financial results for the year ending December 31, 2024, have been reviewed by the auditors, confirming consistency with the draft financial statements[87]
南华金融(00619) - 2024 - 年度业绩