Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 51,370,000, a decrease of 49.6% compared to HKD 101,897,000 in 2023[3] - Gross profit increased to HKD 17,278,000 from HKD 16,778,000, reflecting a gross margin improvement despite lower revenue[3] - Operating profit significantly decreased to HKD 9,182,000 from HKD 51,836,000, indicating a decline of 82.3%[3] - The net profit for the year was HKD 93,391,000, down 55.1% from HKD 169,301,000 in the previous year[4] - Earnings per share dropped to HKD 0.0190 from HKD 0.0344, a decline of 44.5%[3] - The company reported a total comprehensive income of HKD 90,024,000, down from HKD 167,999,000, a decrease of 46.5%[4] - The company reported a profit attributable to shareholders of HKD 93,391,000 for 2024, a decline of 55.1% from HKD 169,301,000 in 2023[30] - The group's gross profit increased by approximately 3% to about HKD 17,300,000, compared to HKD 16,800,000 in 2023[38] Assets and Liabilities - Total assets less current liabilities increased to HKD 1,163,135,000 from HKD 1,060,648,000, showing a growth of 9.7%[5] - Non-current assets decreased to HKD 1,054,772,000 from HKD 1,037,538,000, a decline of 1.6%[5] - Cash and cash equivalents rose to HKD 74,950,000 from HKD 57,388,000, an increase of 30.6%[5] - The company’s total assets decreased to HKD 1,454,088,000 in 2024 from HKD 1,388,555,000 in 2023[18] - The total liabilities increased to HKD 476,700,000 in 2024 from HKD 501,191,000 in 2023[18] - The group’s total assets amounted to approximately HKD 977.4 million as of December 31, 2024, up from HKD 887.4 million in 2023[54] - The outstanding loans related to credit facilities amount to approximately HKD 405,100,000 as of December 31, 2024, compared to HKD 180,000,000 in 2023[58] Revenue Breakdown - The travel segment reported revenue of HKD 48,696,000 for 2024, a decrease of 51.0% from HKD 99,229,000 in 2023[18] - The property investment segment generated revenue of HKD 2,674,000 in 2024, slightly up from HKD 2,668,000 in 2023[20] - Revenue from ticket sales was HKD 36,911,000 in 2024, down 57.5% from HKD 86,667,000 in 2023[25] - The travel segment reported a profit of HKD 463,000 in 2024, a significant decline from HKD 4,276,000 in 2023[18] - The property investment segment incurred a loss of HKD 34,855,000 in 2024, compared to a loss of HKD 14,172,000 in 2023[18] Market Conditions - The overall vacancy rate for Grade A office space in Hong Kong reached 13.1%, the highest level in 25 years, with overall market rents declining by 8.6%[44] - The vacancy rate in the Hong Kong commercial property market reached a historical high of 14.8% in 2024, influenced by economic performance and changing tenant preferences[63] - The international tourism sector saw a significant recovery in 2024, with global traveler numbers reaching 1.4 billion, an increase of 33% compared to the previous year[42] - Macau's tourism industry recorded strong growth with approximately 34.9 million visitors, a year-on-year increase of 23.8%[45] Corporate Governance and Compliance - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange regulations during the year ending December 31, 2024[66] - The consolidated financial results for the year ending December 31, 2024, have been audited by the group's auditor, Guo Wei Accounting Firm, and reviewed by the audit committee[68] - The preliminary performance announcement aligns with the draft consolidated financial statements, confirming the accuracy of the reported figures[68] - The board of directors includes two executive directors, one non-executive director, and three independent non-executive directors[68] Future Outlook - The company maintains a cautiously optimistic outlook for 2025, anticipating global economic growth of 3.3% in both 2025 and 2026[61] - The expected rebound in the global tourism industry is projected to continue into 2025, supported by new visa agreements and expanded flight routes[62]
实德环球(00487) - 2024 - 年度业绩