Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of HKD 759,920, an increase from HKD 126,339 in 2023, representing a growth of approximately 500%[3] - The net loss attributable to ordinary equity holders for the year was HKD 28,978,531, a significant reduction from HKD 52,436,843 in the previous year, indicating an improvement of about 44.7%[3] - The company's operating loss decreased to HKD 28,821,578 from HKD 52,254,603, reflecting a reduction of approximately 44.8% year-over-year[3] - The company incurred a total loss before tax of HKD 28,978,531 for the fiscal year ending December 31, 2024, a decrease from a loss of HKD 52,436,843 in the previous year, indicating an improvement of 44.73%[14] - The net loss from financial assets measured at fair value through profit or loss was HKD 3,541,193 for the year 2024, significantly lower than the previous year's loss of HKD 59,123,751[18] Assets and Liabilities - Total current assets increased to HKD 93,623,662 in 2024 from HKD 64,935,138 in 2023, marking a growth of about 44%[4] - The company reported total liabilities of HKD 4,257,563 in 2024, down from HKD 5,207,358 in 2023, showing a decrease of about 18.2%[4] - The company's total assets as of December 31, 2024, amounted to HKD 65,116,985, a decrease from HKD 95,243,209 in the previous year, reflecting a decline of 31.63%[16] - The total liabilities as of December 31, 2024, were HKD 4,257,563, down from HKD 5,405,256 in the previous year, indicating a reduction of 21.14%[16] - As of December 31, 2024, the company had no significant or contingent liabilities[50] Investment Strategy - The company aims to invest in global enterprises that provide products or services supported by the economies of Mainland China, Hong Kong, Macau, and Taiwan[5] - The company plans to maintain a long-term investment strategy focusing on the Hong Kong IPO market as a key investment area[27] - The company focuses on short to medium-term investments in listed securities and is committed to exploring high-potential investment opportunities[31] - The company maintains a diversified investment strategy, including private equity and other non-listed assets to reduce risk and potentially achieve higher returns in the long term[31] - The company is vigilant in seeking more investment opportunities, including non-listed investments, to enhance value for investors and shareholders[31] Operational Changes - The company has transitioned its investment management to a new manager effective October 4, 2024, which is expected to have no significant impact on operations[6] - The company is actively enhancing its services through artificial intelligence technology, targeting new customers in Hong Kong and mainland China[44] - The company is focused on expanding its operations in the oil and natural gas development and production sectors[44] Employee and Administrative Costs - The company’s employee costs (excluding directors' remuneration) decreased to HKD 2,738,910 in 2024 from HKD 4,132,184 in 2023, a reduction of 33.73%[19] - The company's administrative expenses for the year amounted to HKD 412,677, slightly down from HKD 413,182 in 2023[20] - The investment management fee for the year was HKD 454,839, a decrease from HKD 600,000 in 2023, indicating a 24.2% reduction[22] Market Conditions - The Hang Seng Index increased by 17.7% over the year, while the Hang Seng China Enterprises Index surged by 26.4%, reflecting strong performance in Chinese enterprises[30] - The Chinese economy faced significant challenges, with GDP growth of 5.0% in 2024, indicating ongoing adjustments and challenges in the market[29] - The U.S. Federal Reserve adjusted the federal funds rate to a range of 4.25% to 4.5% by the end of 2024, following a series of interest rate changes throughout the year[30] Investment Performance - The company recorded a realized gain of HKD 105,000 from China New Consumption Group Limited this year[45] - The top three realized gains this year include HKD 554,000 from Taste Holdings Limited, HKD 373,000 from Hengwei Group Holdings Limited, and HKD 296,000 from Stone One Limited Partnership Fund[46] Shareholder Returns - The company will not recommend any final dividend for the year 2024[48] Employment and Workforce - The company had five full-time employees as of December 31, 2024, down from eight in 2023[58]
中国新经济投资(00080) - 2024 - 年度业绩