Financial Performance - Total revenue for the year ended December 31, 2024, was $5,867,000, a decrease of 2.85% compared to $6,039,000 in 2023[3] - Gross profit increased to $3,642,000, up 15.2% from $3,162,000 in the previous year[3] - The company reported a net loss attributable to shareholders of $1,060,000, compared to a profit of $451,000 in 2023[3] - The company reported a pre-tax loss of $1,756,000 for the year, compared to a pre-tax profit of $120,000 in 2023[10] - The group recorded a net loss after tax of $1,060,000 for the year ending December 31, 2024, compared to a net profit of $451,000 in 2023[27] - Basic loss per share was 0.15 cents, compared to earnings of 0.06 cents per share in 2023[3] - Basic loss per share for the year ending December 31, 2024, was 0.15 cents, compared to earnings of 0.06 cents per share in 2023[33] Assets and Liabilities - Non-current assets decreased to $82,415,000 from $86,952,000, reflecting a decline of 5.8%[4] - Current assets decreased to $12,384,000 from $12,064,000, indicating a slight increase of 2.65%[4] - Total liabilities decreased to $16,206,000 from $17,034,000, a reduction of 4.86%[4] - The company's cash and cash equivalents decreased to $8,651,000 from $9,858,000, a decline of 12.2%[4] - The total equity attributable to shareholders decreased to $76,283,000 from $78,780,000, a decline of 3.18%[4] - Trade receivables increased to $3,192,000 in 2024 from $1,718,000 in 2023, representing an increase of about 85.69%[20] - The total amount of trade payables decreased to $1,588,000 in 2024 from $2,137,000 in 2023, a reduction of approximately 25.69%[22] Revenue Breakdown - Revenue from the production and sale of footwear products was $1,499,000, down 11.16% from $1,687,000 in the previous year[7] - Rental income from leased properties was $4,368,000, slightly up from $4,352,000 in 2023, indicating a growth of 0.37%[7] - Revenue from the United States increased to $704,000 in 2024 from $675,000 in 2023, representing a growth of 4.30%[11] - Revenue from Morocco surged to $457,000 in 2024, a significant increase from $86,000 in 2023[11] - Major customers contributed significantly to total revenue, with Customer A generating $1,499,000 in 2024, down from $1,687,000 in 2023[12] Cost Management - Total employee costs decreased to $2,024,000 in 2024 from $2,299,000 in 2023, reflecting a reduction of approximately 11.97%[1] - The group has implemented strict cost control measures and efficiency policies to mitigate financial impacts[33] Market and Economic Conditions - The group anticipates continued economic uncertainty and potential impacts on export order volumes due to escalating tariff policies and trade restrictions[30] - North America remains the largest export market, accounting for 47.0% of the group's footwear sales, while Europe and other regions contributed 39.3% and 13.7%, respectively[28] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as of December 31, 2024[40] - The audit committee reviewed the accounting principles and practices adopted by the group, including the audited consolidated financial statements for the year ending December 31, 2024[42] Future Outlook - The company plans to maintain a final dividend of HK$0.01 per share for the year ending December 31, 2024, consistent with the previous year[18] - The group will maintain a conservative policy with a low debt ratio in resource allocation[34] - The group has established stable cash flow from leasing idle properties domestically, contributing to overall financial stability[29] Miscellaneous - The company applied revised Hong Kong Financial Reporting Standards for the first time in 2024, which did not have a significant impact on financial performance[6] - There were no purchases, sales, or redemptions of the company's shares during the fiscal year ending December 31, 2024[39] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website[43]
创信国际(00676) - 2024 - 年度业绩