Financial Performance - For the fiscal year ending December 31, 2024, the group recorded revenue of approximately HKD 134.68 million, an increase of approximately HKD 96.4 million or 251.7% compared to HKD 38.27 million for the fiscal year ending December 31, 2023[4]. - The net profit for the year was approximately HKD 2.57 million, compared to a net profit of approximately HKD 2.18 million for the previous year[5]. - The operating profit increased to HKD 26.49 million from HKD 10.71 million year-on-year[5]. - The group reported a significant increase in investment property fair value gains, rising to HKD 7 million from HKD 2 million[5]. - The group's total revenue for the year 2024 was HKD 134.68 million, a significant increase from HKD 38.27 million in 2023, representing a growth of approximately 252%[13]. - The company reported a pre-tax profit of HKD 2.79 million for the year ended December 31, 2024, compared to HKD 2.42 million in 2023, showing an increase of about 15%[27][28]. - The group's profit for the year, after adjustments, was HKD 2,565,000 for 2024, compared to HKD 2,509,000 for 2023, reflecting a slight increase[41]. Revenue Sources - Rental income from investment properties in Hong Kong increased to HKD 7.10 million in 2024 from HKD 6.40 million in 2023, reflecting a growth of about 11%[13]. - The group generated HKD 81.89 million in rental income from sub-leased properties, which was not present in the previous year[13]. - The construction services segment contributed HKD 23.11 million in revenue for 2024, marking the establishment of a new business line[13]. - Revenue from external customers in mainland China (excluding Hong Kong) surged to HKD 121.31 million in 2024, compared to HKD 25.31 million in 2023, indicating a growth of approximately 380%[34]. - The revenue from property management and related services decreased to HKD 16.31 million in 2024 from HKD 25.37 million in 2023, a decline of about 36%[19]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 811.87 million, up from HKD 209.82 million in the previous year[7]. - The group’s non-current assets increased significantly to HKD 1,005.76 million from HKD 349.98 million[7]. - The total assets of the group increased to HKD 1,075.26 million in 2024 from HKD 598.62 million in 2023, reflecting a growth of approximately 80%[30]. - The total liabilities rose to HKD 584.50 million in 2024, up from HKD 465.58 million in 2023, marking an increase of about 25.5%[30]. - Trade receivables increased to HKD 29,260,000 in 2024 from HKD 4,802,000 in 2023, indicating substantial growth in receivables[45]. - Trade payables increased to HKD 3,570,000 in 2024 from HKD 778,000 in 2023, indicating a rise in obligations[49]. Financial Support and Commitments - The group received a bank letter indicating that no repayment or cancellation of loans would be required in the next twelve months, barring any default events[11]. - The group’s financial position is supported by the controlling shareholder's commitment to provide sufficient funds to meet due liabilities, amounting to approximately HKD 21.04 million[11]. - The group has received written confirmation from its controlling shareholder to continue providing financial support for debt repayment if necessary[71]. Costs and Expenses - The financing costs for the year 2024 amounted to HKD 23.70 million, a significant rise from HKD 8.29 million in 2023, representing an increase of approximately 185%[36]. - The total employee costs decreased to HKD 16,562,000 in 2024 from HKD 20,922,000 in 2023, showing a reduction in personnel expenses[41]. - Employee costs decreased by HKD 4,360,000 or 20.8% to HKD 16,562,000 due to a reduction in workforce[60]. Dividends and Shareholder Returns - The board does not recommend the payment of a final dividend for the year[4]. - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with no dividend in 2023[39]. - The group will continue to review its dividend policy to ensure sustainability and stability in distributions[74]. Business Development and Strategy - The group has four operating segments: property investment, gardening services, property management, and construction services, with the latter being newly established in the reporting period[17][18]. - The group aims to strengthen property management and related services to stimulate future revenue and profit growth[69]. - The group has established a solid foundation in property management and investment, expanding into construction services to diversify offerings[69]. - The company has completed a significant acquisition related to leasing agreements, with details provided in a circular dated October 31, 2023[49]. Accounting and Compliance - The group has begun evaluating the impact of new accounting standards that have been announced but are not yet effective, although it is uncertain if they will significantly affect operational performance[12]. - The audit committee has reviewed the financial statements for the year ending December 31, 2024, with no objections raised[75].
中亚烯谷集团(00063) - 2024 - 年度业绩