Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 419,112,000, a decrease of 2.7% from HKD 431,288,000 in 2023[2] - The company reported a loss before tax of HKD 12,221,000 compared to a profit of HKD 415,128,000 in the previous year[2] - The net loss for the year was HKD 13,655,000, a significant decline from a profit of HKD 304,102,000 in 2023[2] - Total comprehensive loss for the year amounted to HKD 33,173,000, compared to a comprehensive income of HKD 296,607,000 in the previous year[3] - Basic loss per share was HKD 0.04 compared to earnings per share of HKD 0.77 in the previous year[3] - The company recorded a loss attributable to owners of approximately HKD 14,100,000 for the year ended December 31, 2024, compared to a profit of HKD 304,179,000 for the year ended December 31, 2023, indicating a significant decline in profitability[26] Revenue Breakdown - Rental income increased significantly to HKD 13,174,000 from HKD 1,177,000, marking an increase of 1,020%[2] - Revenue from electroplating equipment was HK$375,960,000, while property investment revenue increased significantly to HK$13,174,000 from HK$1,177,000 in 2023[12] - Revenue from contracts with customers was approximately HKD 375,960,000, a decrease of 4.4% compared to the previous year, primarily due to stagnation in global automotive production and a rebound in demand for high-end communication equipment[28] Asset and Equity Changes - Non-current assets decreased to HKD 1,090,836,000 from HKD 1,273,979,000, a reduction of 14.3%[4] - Current assets increased to HKD 916,897,000 from HKD 862,034,000, an increase of 6.4%[4] - Total equity attributable to owners decreased to HKD 1,412,690,000 from HKD 1,469,072,000, a decline of 3.8%[5] Financial Costs and Income - Interest income decreased to HKD 17,961,000 from HKD 25,175,000, a decline of 28.5%[2] - The company incurred a total financial cost of HK$1,470,000, down from HK$3,923,000 in 2023, primarily due to reduced interest on lease liabilities[14] - The company’s interest income from debt instrument investments was approximately HKD 17,961,000, down from HKD 25,175,000 in the previous year, indicating a decline in investment returns[30] Impairment and Losses - The impairment loss on property, plant, and equipment was HK$6,222,000, with no such loss reported in 2023[13] - The group's investment properties experienced a fair value loss of approximately HKD 78,054,000 for the year ended December 31, 2024, compared to a loss of HKD 28,459,000 in the previous year[48] - The expected credit loss under the impairment model for receivables was approximately HKD 9,866,000 for the year ended December 31, 2024, compared to HKD 9,608,000 for the previous year, reflecting a slight increase in credit risk[22] Cash Flow and Debt Management - The group had cash on hand of approximately HKD 344,596,000 as of December 31, 2024, significantly up from HKD 138,133,000 as of December 31, 2023[96] - The group utilized approximately HKD 6,328,000 in bank borrowings as of December 31, 2024, compared to none as of December 31, 2023[97] - The debt ratio increased to 2.6% as of December 31, 2024, compared to 2.2% as of December 31, 2023, calculated based on total bank borrowings and other interest-bearing loans divided by equity attributable to the owners[96] Investment and Market Outlook - The company anticipates that 2025 will be a challenging year for its plating equipment business due to slow economic recovery and high interest rates[74] - The commercial real estate market in Hong Kong is expected to face challenges, with an estimated office vacancy rate increase of 1.9 percentage points to 18.9% in 2024 and potential rental declines of up to 10%[76] - The group aims to maintain a diversified investment portfolio to provide stable returns while managing capital prudently[93] Corporate Governance and Meetings - The audit committee held two meetings in 2024 to review the group's financial performance for the year ending December 31, 2023, and the interim results for the six months ending June 30, 2024[112] - The company has complied with most of the corporate governance code provisions as of the announcement date[107] - The company has established a nomination committee to review the board's structure and identify suitable candidates for directorship[114] Dividends and Shareholder Information - Proposed final dividend of HKD 0.02 per share for the review period, same as 2023, subject to shareholder approval[105] - The final dividend payment is expected to be made on July 24, 2025, to shareholders listed on July 7, 2025[105] - The annual general meeting is scheduled for June 26, 2025[120]
亚洲联网科技(00679) - 2024 - 年度业绩