Financial Performance - For the year ended December 31, 2024, Lai Si Enterprise Holding Limited reported revenue of MOP 208,136,000, representing a 136.0% increase compared to MOP 88,189,000 in 2023[2]. - Gross profit for the same period was MOP 49,508,000, a significant increase of 236.3% from MOP 14,721,000 in the previous year, with a gross margin of 23.8%[2][5]. - The profit attributable to owners of the company was MOP 24,099,000, compared to a loss of MOP 18,547,000 in 2023, marking a substantial turnaround[2][5]. - Basic earnings per share for 2024 was MOP 6.0, recovering from a loss of MOP 4.6 per share in 2023[5]. - The adjusted profit before tax for 2024 was MOP 23,818,000, compared to a loss of MOP 18,725,000 in 2023, marking a turnaround in performance[19]. - The company reported a pre-tax profit of MOP 23,818,000 for 2024, compared to a pre-tax loss of MOP 18,725,000 in 2023, indicating a significant turnaround in performance[21][22]. - Basic earnings attributable to shareholders for 2024 were MOP 24,099,000, up from MOP 18,547,000 in 2023, reflecting an improvement in profitability[23]. Revenue Breakdown - The revenue from renovation, alteration, and addition works was MOP 193,905,000 in 2024, up from MOP 72,860,000 in 2023, indicating an increase of 166%[18]. - Revenue from external customers in Macau for 2024 was MOP 149,877,000, significantly higher than MOP 66,950,000 in 2023, representing an increase of 124%[16]. - Revenue from renovation projects rose by approximately MOP 121.0 million or 166.1%, while revenue from construction projects decreased by approximately MOP 1.3 million or 13.3%[35]. - Total revenue for the year ended December 31, 2024, was MOP 208.1 million, with renovation engineering contributing MOP 193.9 million (93.2% of total revenue)[34]. Financial Position - Total assets less current liabilities increased to MOP 132,395,000 in 2024 from MOP 108,438,000 in 2023, indicating improved financial stability[7]. - Current assets rose to MOP 113,743,000, up from MOP 74,564,000 in the previous year, reflecting enhanced liquidity[7]. - The net asset value increased by 23.0% to MOP 129,058,000 in 2024 from MOP 104,944,000 in 2023[8]. - The company reported a net cash position of MOP 24,463,000, significantly higher than MOP 10,129,000 in 2023, indicating stronger cash flow management[7]. - The company reported a decrease in non-current assets from MOP 104,332,000 in 2023 to MOP 101,936,000 in 2024[17]. - Trade receivables increased to MOP 58,364,000 in 2024 from MOP 42,374,000 in 2023, with a net book value of MOP 36,951,000 after impairment[25]. - The group's current assets and current liabilities were MOP 1,137 million and MOP 847 million respectively, resulting in a current ratio of 1.34, up from 1.04 in 2023[48]. - The debt-to-equity ratio decreased to 0.23 as of December 31, 2024, compared to 0.32 in 2023, primarily due to profit conditions during the year[48]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.025 per share, equivalent to MOP 0.0258, pending approval at the annual general meeting[3]. - The company proposed a final dividend of MOP 2.58 per share for 2024, totaling MOP 10,300,000, compared to no dividend in 2023[22]. - The board proposed a final dividend of HKD 0.025 per ordinary share for the year ended December 31, 2024, subject to shareholder approval[66]. Operational Highlights - The total employee cost for the year ended December 31, 2024, was MOP 43.3 million, an increase from MOP 36.3 million in 2023[64]. - As of December 31, 2024, the total number of full-time employees was 146, up from 140 in 2023[63]. - The company has maintained a consistent number of ordinary shares outstanding at 400,000,000 since 2023[23]. Taxation and Compliance - The company did not incur any provision for Macau's complementary tax due to taxable profits being absorbed by unutilized tax losses[20]. - The company's tax expenses for 2024 amounted to MOP 3,161,000, reflecting a significant reduction from the previous year's tax expenses[21]. - The company has complied with all applicable corporate governance codes as per the listing rules for the year ended December 31, 2024[70]. Future Outlook - The company plans to apply new and revised Hong Kong Financial Reporting Standards when they become effective[12]. - The company plans to actively explore broader markets to create more opportunities for development in a favorable economic environment[65]. - The company anticipates a favorable outcome in ongoing legal disputes, with no provisions made in the financial statements for potential liabilities[29][30]. Miscellaneous - The company has no supplier financing arrangements, and thus recent amendments to accounting standards did not impact its financial statements[11]. - The company has no capital commitments as of December 31, 2024, consistent with 2023[54]. - The group faced concentrated credit risk from its top five customers, with trade receivables and contract assets amounting to MOP 303 million, representing approximately 39.1% of total trade receivables and contract assets[59]. - The actual interest rates for borrowings ranged from 2.7% to 3.8% as of December 31, 2024, down from 3.3% to 4.4% in 2023[48]. - The company entered into a purchase agreement for a property in Hong Kong for HKD 10.4 million, aimed at supporting its business operations in Hong Kong[60]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial information for the year ended December 31, 2024[72]. - The annual report for the year ended December 31, 2024, will be published on the stock exchange and the company's website[74]. - No buybacks, sales, or redemptions of the company's listed securities occurred during the year ended December 31, 2024[69]. - The company will suspend share transfer registration from June 18, 2025, to June 24, 2025, to determine eligibility for the proposed final dividend[68].
黎氏企业(02266) - 2024 - 年度业绩