Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 798,962,000, a decrease of 2.8% from HKD 821,423,000 in 2023[3] - Gross profit increased to HKD 343,399,000, up 8.6% from HKD 316,097,000 in the previous year[3] - The net profit attributable to the company’s owners for the year was HKD 60,717,000, compared to HKD 26,930,000 in 2023, representing a significant increase[4] - Basic earnings per share for continuing and discontinued operations rose to HKD 3.55 cents, up from HKD 1.57 cents in the prior year[4] - The company reported a profit from continuing operations of HKD 82,633,000 for 2024, a significant recovery from a loss of HKD 23,251,000 in 2023[18] - The health and elderly care business reported a profit of HKD 9,577,000, a turnaround from a loss of HKD 10,854,000 in 2023[18] - The discontinued operations reported a profit of HKD 41,366,000 in 2024, down from HKD 179,187,000 in 2023[27] - Basic and diluted earnings per share for the year were based on a profit attributable to shareholders of HKD 60,717,000, compared to HKD 26,930,000 in 2023[31] Revenue Breakdown - Revenue from the health and elderly care business increased to HKD 202,858,000 in 2024, up 28.8% from HKD 157,441,000 in 2023[18] - Financing leasing business revenue rose to HKD 368,025,000, compared to HKD 352,636,000 in the previous year, reflecting a growth of 4.4%[18] - The revenue from the civil explosives business decreased by 26.7% to approximately HKD 194,868,000, with operating profit declining by 33.1% to about HKD 25,925,000[52] - The technology business's revenue decreased by 32.7% to approximately HKD 14,124,000, with a shift from a profit of about HKD 1,092,000 to a loss of approximately HKD 1,400,000[50] Assets and Liabilities - The total assets as of December 31, 2024, were HKD 5,720,492,000, an increase from HKD 5,445,425,000 in 2023[6] - Total assets increased to HKD 7,484,410,000 in 2024, up from HKD 6,982,900,000 in 2023[20] - The financing leasing business accounted for HKD 4,990,099,000 in assets, an increase from HKD 4,688,050,000 in the previous year[20] - The total liabilities for continuing operations were HKD 4,739,314,000, compared to HKD 4,520,453,000 in 2023, indicating a rise of 4.8%[22] - Non-current liabilities increased to HKD 3,883,247,000 from HKD 3,326,128,000 in the previous year[6] Cash Flow and Expenses - The company’s cash and bank balances improved to HKD 717,173,000, up from HKD 592,181,000 in 2023[5] - Financial expenses totaled HKD 78,427,000 in 2024, up from HKD 65,838,000 in 2023, with bank loan interest increasing to HKD 47,469,000 from HKD 38,826,000[23] - The estimated taxable profit for the year resulted in a tax expense of HKD (51,811,000) for 2024, compared to HKD (37,001,000) in 2023[24] - The company incurred total employee costs of HKD 177,918,000 in 2024, a decrease from HKD 197,815,000 in 2023[29] Dividends and Shareholder Information - A special dividend of HKD 0.42 per share was approved, totaling approximately HKD 7,192,000, with a proposed final dividend of HKD 0.58 per share amounting to about HKD 9,932,000[30] - The company will suspend share transfer registration from June 23, 2025, to June 26, 2025, to determine eligibility for attending the 2025 Annual General Meeting and voting[64] - The company will suspend share transfer registration from July 7, 2025, to July 9, 2025, to determine eligibility for receiving the proposed final dividend for the year ending December 31, 2024[65] Corporate Governance - The company has adopted all provisions of the corporate governance code as per the Hong Kong Stock Exchange Listing Rules and has complied with them for the year ending December 31, 2024[67] - All directors confirmed compliance with the standard code for securities trading for the year ending December 31, 2024[68] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group for the year ending December 31, 2024[69] - The financial statements for the year ending December 31, 2024, have been audited by the company's auditor, KPMG, who has agreed with the figures presented[70] Future Outlook and Strategy - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming fiscal year[3] - The company expects that the adoption of new Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[10] - The company has not applied the newly issued Hong Kong Financial Reporting Standards that are not yet effective, indicating a cautious approach to upcoming regulatory changes[9] - The group aims to expand its elderly care business, targeting 5,000 beds by the end of 2025, with ongoing projects and partnerships in Guangdong Province[59] - The technology sector will focus on investment and acquisitions to support strategic development, with an emphasis on establishing a project database[60] - In the financing leasing business, the group will continue to focus on green financing and optimize environmental leasing products while exploring new business areas[61]
中国兴业控股(00132) - 2024 - 年度业绩