Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 91,707,000, a decrease of 64.6% compared to HKD 258,894,000 for the fiscal year ending December 31, 2023[3] - The gross profit for the fiscal year 2024 was HKD 23,521,000, representing a 20.5% increase from HKD 19,512,000 in 2023[3] - The net profit attributable to shareholders for 2024 was HKD 3,802,000, compared to a loss of HKD 7,970,000 in 2023, indicating a significant turnaround[3] - The basic earnings per share for 2024 was HKD 0.19, compared to a loss per share of HKD 0.40 in 2023[3] - The group recorded a net profit of approximately HKD 3.8 million in 2024, compared to a net loss of approximately HKD 8.0 million in 2023[42] Revenue Sources - Revenue from external customers in Macau was HKD 31,380,000 in 2024, up from HKD 22,144,000 in 2023, while revenue from Hong Kong dropped to HKD 60,327,000 from HKD 236,750,000[13] - Revenue from major customer A decreased to HKD 55,890,000 in 2024 from HKD 232,509,000 in 2023, representing a decline of approximately 76%[14] - Other income for fiscal year 2024 was approximately HKD 1.8 million, up from approximately HKD 1.2 million in fiscal year 2023, primarily due to increased bank interest income and waste disposal revenue[35] Expenses and Costs - Administrative expenses increased to HKD 23,348,000 in 2024 from HKD 22,053,000 in 2023, reflecting rising operational costs[3] - Total employee costs decreased to HKD 25,540,000 in 2024 from HKD 31,317,000 in 2023, a reduction of approximately 18%[16] - The sales cost for fiscal year 2024 was approximately HKD 68.2 million, a reduction of 71.5% from approximately HKD 239.4 million in fiscal year 2023[33] Assets and Liabilities - Trade receivables and other receivables increased to HKD 63,608,000 in 2024 from HKD 22,265,000 in 2023, reflecting a substantial growth in receivables[4] - The total assets less current liabilities stood at HKD 217,874,000 in 2024, slightly up from HKD 214,780,000 in 2023[4] - The company reported a decrease in contract assets to HKD 92,257,000 in 2024 from HKD 132,060,000 in 2023, indicating a reduction in ongoing projects[4] - The company’s bank borrowings decreased to HKD 5,354,000 in 2024 from HKD 6,095,000 in 2023, a decline of about 12%[24] - The group has confirmed an accumulated credit loss provision of approximately HKD 17.7 million and HKD 8.8 million for contract assets and trade receivables, respectively, as of December 31, 2024[37] Operational Strategy - The company operates primarily in Macau and Hong Kong, focusing on providing electrical and mechanical engineering services[5] - The group is focusing on optimizing operational efficiency in response to the changing economic landscape in Macau and Hong Kong, which includes restructuring the project management team and digitizing workflows[30] - The group aims to explore opportunities in the cable trading market to diversify its business model and create new revenue sources[28] - The group is seeking opportunities to undertake more electromechanical engineering service projects in Macau and Hong Kong, targeting both existing and potential new clients[55] Corporate Governance - The company is committed to high standards of corporate governance, with the board regularly reviewing policies to ensure compliance with applicable regulations[64] - The audit committee has reviewed the accounting principles and practices adopted by the company, discussing audit, internal control, and financial reporting matters[66] Employee and Workforce - The company has 50 full-time employees as of December 31, 2024, a decrease from 72 employees as of December 31, 2023[60] - The total employee cost for the fiscal year 2024 is approximately HKD 25.5 million, down from approximately HKD 31.3 million in the previous year[60] Future Outlook - The company maintains a cautiously optimistic outlook for the next year, emphasizing the growth potential in the cable trading sector and its low debt levels, which provide flexibility for new projects and investments[56] - There has been an increase in requests for quotations and growing interest from potential customers in the cable trading sector, indicating positive results from the company's expansion efforts[56]
澳达控股(09929) - 2024 - 年度业绩