Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 4,241,331, a decrease of 41.9% from HKD 7,274,368 in 2023[4] - Property sales revenue was HKD 4,224,465, down 41.6% from HKD 7,246,188 in the previous year[4] - Rental income decreased to HKD 15,724, a decline of 42.1% from HKD 27,050 in 2023[4] - The company reported a profit of HKD 21,259 for the year, compared to a loss of HKD 73,794 in 2023[5] - Basic and diluted loss per share for the year was HKD 0.5 cents, improving from a loss of HKD 3.8 cents in the previous year[4] - The group reported a net profit of HKD 21,259 for the year 2024, a significant decrease from a loss of HKD 73,794 in 2023[14] - Financial costs totaled HKD 131,764,000 in 2024, down 49.6% from HKD 261,167,000 in 2023[20] - Pre-tax loss attributable to equity holders was HKD 3,954,000 in 2024, compared to a loss of HKD 30,094,000 in 2023[28] - The group recorded a loss attributable to shareholders of HKD 4,000,000 in 2024, compared to a net loss of HKD 30,100,000 in 2023[35] Assets and Liabilities - Non-current assets totaled HKD 1,021,812, down from HKD 1,430,512 in 2023[6] - Current assets increased to HKD 17,915,847, compared to HKD 14,534,750 in the previous year[6] - The total assets of the group amounted to HKD 18,937,659 in 2024, compared to HKD 15,965,262 in 2023, reflecting an increase of approximately 18.4%[14] - The total liabilities increased to HKD 18,108,103 in 2024 from HKD 15,149,705 in 2023, marking an increase of around 19.5%[14] - Non-current assets decreased to HKD 799,874 in 2024 from HKD 1,232,459 in 2023, representing a decline of approximately 35.1%[17] - Trade payables increased to HKD 1,484,118,000 in 2024 from HKD 458,044,000 in 2023, indicating a rise of 224.5%[29] - The group's net borrowings increased to HKD 3,990,000,000 in 2024 from HKD 1,012,300,000 in 2023, reflecting a significant rise[40] - The capital-to-debt ratio rose to 394.6% in 2024 from 98.4% in 2023, indicating increased leverage[40] Revenue Breakdown - In 2024, the total revenue from operations was HKD 4,241,331, a decrease from HKD 7,274,368 in 2023, representing a decline of approximately 41.5%[14] - The property development and sales segment generated revenue of HKD 4,224,465 in 2024, down from HKD 7,246,188 in 2023, indicating a decrease of about 41.6%[17] - Revenue from property sales dropped to HKD 4,224,465,000 in 2024 from HKD 7,246,188,000 in 2023, reflecting a decline of 41.6%[19] - Rental income from investment properties was HKD 15,700,000 in 2024, down 41.9% from HKD 27,100,000 in 2023[37] - The group achieved contract sales totaling approximately HKD 2,280,700,000 in 2024, down from HKD 4,075,800,000 in 2023[36] Dividends and Shareholder Information - The company did not declare any final dividend for the year[4] - The company did not recommend any final dividend for the year ending December 31, 2024, consistent with 2023[25] - The company has not purchased, sold, or redeemed any of its shares during the year[53] - The company has issued a circular to shareholders containing necessary information for informed voting on the re-election of retiring directors[49] Governance and Compliance - The company has deviated from the Corporate Governance Code C.2.1 by having the same individual, Mr. Huang, serve as both Chairman and CEO, which the board believes promotes effective execution of business strategies[48] - The audit committee consists of three independent non-executive directors, ensuring a balanced distribution of power and authority between the board and management[51] - The company will continue to review the structure and composition of the board to maintain an appropriate balance of power and authority[48] - All directors have confirmed compliance with the established code of conduct for securities trading during the reporting period[50] - The company has adopted accounting principles and practices reviewed by the audit committee, focusing on internal controls and financial reporting[51] - The board includes experienced individuals, including three independent non-executive directors, to safeguard shareholder interests[48] - The audit firm Ernst & Young has reviewed the preliminary financial statements for the year ending December 31, 2024, but their work does not constitute a certification or opinion on the preliminary announcement[52] Market Outlook - The outlook for the real estate market in China is expected to gradually improve, supported by government policies and measures[44] Financial Reporting Standards - The company has adopted new and revised financial reporting standards, which did not impact its financial position or performance[9] - The group is currently assessing the impact of new and revised financial reporting standards, which may lead to changes in accounting policies and financial reporting[11]
渝太地产(00075) - 2024 - 年度业绩