Financial Performance - Total revenue for the fiscal year 2024 was MOP 1,506,571,000, a slight increase of 0.8% compared to MOP 1,496,393,000 in 2023[3] - Gross profit decreased to MOP 118,432,000, down 2.1% from MOP 120,948,000 in the previous year[4] - Net profit for the year was MOP 4,091,000, representing a decline of 26.5% from MOP 5,566,000 in 2023[4] - The construction business generated MOP 391,434,000 in revenue for 2024, down from MOP 464,326,000 in 2023, indicating a decline of 15.7%[10] - The electric vehicle segment reported revenue of MOP 1,917,000 in 2024, up from MOP 1,676,000 in 2023, reflecting an increase of 14.4%[10] - The steel structure business saw revenue rise to MOP 1,113,220,000 in 2024, compared to MOP 1,030,391,000 in 2023, marking an increase of 8.0%[12] - The group recorded a revenue of MOP 1,506.6 million for the year 2024, a slight increase from MOP 1,496.4 million in 2023, with steel structure business revenue reaching MOP 1,113.2 million, accounting for 73.9% of total revenue[43] - The group’s construction business revenue decreased by 15.7% to MOP 391.4 million due to a decline in large construction projects initiated by casino operators[43] - The group achieved a total revenue of MOP 1,506.6 million for the fiscal year 2024, reflecting a 0.7% increase from MOP 1,496.4 million in fiscal year 2023[50] Assets and Liabilities - The total value of uncompleted contracts on hand increased to MOP 1,300,154,000, up 18.5% from MOP 1,041,158,000 in the previous year, with construction business contributing MOP 682,074,000 and steel structure business MOP 618,080,000[3] - Total assets decreased to MOP 792,296,000 from MOP 831,377,000, a decline of 4.7%[5] - The total contract assets decreased to MOP 62,065,000 in 2024 from MOP 111,423,000 in 2023, a reduction of 44.2%[20] - The trade receivables from customer contracts totaled MOP 401,582,000, down from MOP 479,486,000 in 2023, with a credit loss provision of MOP 29,413,000[25] - The company’s overdue trade receivables amounted to MOP 304,702,000, an increase from MOP 279,566,000 in the previous fiscal year, with MOP 76,485,000 overdue for more than 90 days[25] - The total trade payables increased to MOP 172,627,000 from MOP 170,422,000 in 2023, with a notable rise in payables due within 90 days[29][30] - The company’s other receivables, deposits, and prepayments totaled MOP 531,813,000, a decrease from MOP 598,556,000 in 2023[25] Profitability and Margins - Basic loss per share was reported at MOP 0.08, compared to a loss of MOP 0.29 in the previous year[4] - The group’s gross profit margin remained stable at approximately 7.9%, with a net profit margin of 0.3% for the year, slightly down from 0.4% in 2023[43] - The gross margin of the steel structure business decreased from 10.0% in FY2023 to 8.1% in FY2024, primarily due to a decline in the average price of rebar[53] - The gross loss in construction and renovation projects improved from 15.8% in FY2023 to 10.1% in FY2024, with a gross loss of 14.4 million MOP (FY2023: 36.4 million MOP)[53] - The gross margin of facility management services decreased from 38.2% in FY2023 to 30.1% in FY2024, attributed to a decrease in project numbers and margins[53] - The electric vehicle segment recorded a gross loss of 2.1 million MOP in FY2024, an improvement from 4.6 million MOP in FY2023[53] Strategic Initiatives and Future Plans - The company plans to continue expanding its electric vehicle services, including charging solutions and battery production[9] - The group is expanding its business into high-value new building materials production technology, with a new production base in Jiangmen, Guangdong, set to commence operations in January 2024[38] - The group has formed a strategic partnership with Beijing Construction Machinery Research Institute to develop and promote green energy and new materials, aiming to enhance production efficiency and market share[38] - The group anticipates increased demand for infrastructure projects and facility management services due to ongoing urban planning and development in the Greater Bay Area[39] - The group is committed to sustainable business models and aims to implement fully automated rebar production lines to capture more orders in China and Southeast Asia[40] - The company plans to expand its revenue and market share in Macau and other target markets, including Hong Kong, Australia, Cyprus, and Southeast Asia, in 2025[73] Governance and Compliance - The company has maintained compliance with corporate governance codes and standards throughout the fiscal year[81] - The audit committee, consisting of three independent non-executive directors, has been established to oversee financial reporting and internal controls[84] - Deloitte has confirmed the financial statements for the year ending December 31, 2024, as approved by the board on March 28, 2025[85] Shareholder Information - The company did not declare any dividends for the fiscal year ending December 31, 2024, consistent with the previous year[35] - The board did not recommend a final dividend for the year ending December 31, 2024[75] - The company issued a total of 266,408,595 2023 warrants to eligible shareholders, with a subscription price adjusted from HKD 1.78 to HKD 1.19 per share[77] - The company repurchased a total of 4,658,000 shares during the year at a total cost of approximately HKD 882,000, enhancing earnings per share for shareholders[83] - The highest repurchase price per share was HKD 0.204, while the lowest was HKD 0.175, indicating a range of price fluctuations during the repurchase period[83] Market Conditions - The company maintained a strong market position in Macau, with a local GDP growth of 11.5% year-on-year and a 23.8% increase in tourist numbers[36] - The Macau government is advancing economic diversification, with the international airport expansion expected to significantly increase annual passenger capacity by 2030[39] - The global smart building market is projected to reach USD 570 billion, prompting the group to respond to national policies by advancing smart manufacturing in new materials[40]
澳能建设(01183) - 2024 - 年度业绩