Financial Performance - For the fiscal year 2024, the company reported revenue of approximately HKD 3,353 million, an increase of about 8.5% compared to the previous fiscal year[11]. - The gross profit for the fiscal year 2024 was approximately HKD 665 million, representing a 12.4% increase from the fiscal year 2023[11]. - The comprehensive loss attributable to owners of the company for fiscal year 2024 was approximately HKD 48 million, a significant reduction of about 68.3% compared to fiscal year 2023[11]. - The company recorded a net loss attributable to equity shareholders of approximately HKD 4.7 million for the fiscal year 2024, a decrease of about HKD 9.4 million compared to a net loss of approximately HKD 14.1 million in fiscal year 2023[25]. - The overall gross profit increased by approximately HKD 7.4 million, primarily due to an increase of approximately HKD 13.5 million in gross profit from the IT infrastructure solutions segment[25]. - The company's revenue for the fiscal year 2024 was approximately HKD 3,353 million, an increase of about HKD 263 million or 8.5% compared to fiscal year 2023 (approximately HKD 3,091 million)[46]. - Gross profit for fiscal year 2024 was approximately HKD 665 million, an increase of about HKD 74 million or 12.4% from fiscal year 2023 (approximately HKD 592 million)[47]. - The net loss for fiscal year 2024 was approximately HKD 69 million, a reduction from a net loss of approximately HKD 173 million in fiscal year 2023[50]. - The total comprehensive loss for fiscal year 2024 was approximately HKD 69 million, compared to approximately HKD 182 million in fiscal year 2023[50]. Business Strategy and Opportunities - The company aims to explore new business opportunities and enhance its business segments in response to global economic uncertainties[12]. - The company expresses confidence in the prospects of the artificial intelligence industry and aims to provide transformative solutions to meet evolving customer needs[12]. - The strategic plan focuses on ensuring sustainable growth in the rapidly developing artificial intelligence sector[12]. - The company is committed to innovation and excellence to leverage cutting-edge technology for substantial development[12]. - The company emphasizes its proactive approach and pursuit of excellence to seize new opportunities and strengthen its market position[12]. - The company aims to expand its project acquisition and total contract value in the upcoming fiscal year[26]. - The company will actively seek new business opportunities and explore new applications of artificial intelligence to achieve maximum returns for stakeholders in the medium to long term[45]. Operational Insights - The company has been a reputable provider of IT services for approximately 26 years, serving both private and public sectors[11]. - Employee costs totaled approximately HKD 94.1 million in fiscal year 2024, up from approximately HKD 81.3 million in fiscal year 2023, reflecting an increase in headcount to 170 employees[58]. - The management team has a combined experience of over 25 years in the IT industry, enhancing the company's operational capabilities[23]. - The company experienced an increase in salary expenses of approximately HKD 6.4 million due to an increase in employee numbers and salary adjustments[25]. Financial Management and Capital Structure - The company's cash and cash equivalents as of December 31, 2024, were approximately HKD 31.2 million, compared to approximately HKD 30.3 million as of December 31, 2023[52]. - The company's capital debt ratio as of December 31, 2024, was 11.1%, a slight decrease from 11.8% as of December 31, 2023[52]. - The group maintained a prudent financial management approach to ensure a stable liquidity position throughout the fiscal year 2024[53]. - The net proceeds from the rights issue amount to approximately HKD 29.9 million, with HKD 18.0 million already utilized by December 31, 2024[30]. - The remaining net proceeds of HKD 11.9 million are expected to be fully utilized by December 31, 2025, contingent on market conditions[33]. Risk Management - The company faces significant risks including reliance on a limited number of suppliers, credit risk from customers, and potential project delays[34]. - The company is monitoring foreign exchange risks due to operations in China and Singapore[40]. - The company has not secured sufficient insurance coverage for operational losses and liabilities[39]. - The company has adopted risk management policies aimed at managing and minimizing risks faced by the group, with procedures in place to identify, assess, and manage significant risks[123]. Corporate Governance - The board believes that good corporate governance is essential for effective management and successful business development, and has adhered to the GEM listing rules throughout fiscal year 2024[79]. - The board consists of three executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[85]. - The company has established a three-year service agreement with all executive directors, which can be extended with a three-month written notice for termination[89]. - The audit committee has reviewed the accounting principles adopted by the group and found the financial statements for fiscal year 2024 to comply with applicable accounting standards and GEM listing rules[78]. - The company has committed to continuously reviewing its corporate governance practices to meet increasing regulatory expectations[81]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to maintaining high environmental and social standards, ensuring sustainable business practices[183]. - The group emphasizes sustainability as a key factor for business success, maintaining high-quality standards while building an environmentally friendly corporate image[191]. - The group conducts annual assessments of significant environmental, social, and governance (ESG) issues to prioritize matters that have a substantial impact on its operations[195]. - The governance structure for ESG responsibilities has been established, with the board overseeing significant ESG matters and management executing strategies[195]. - The group aims to integrate green development concepts into its operations, promoting low-carbon economic transformation and achieving "dual carbon goals" for long-term sustainability[195].
倢冠控股(08606) - 2024 - 年度财报