Financial Performance - Revenue for the twelve months ended December 31, 2024, was approximately HKD 331.05 million, an increase of about 3.7% compared to HKD 319.15 million for the same period in 2023[6] - The net loss attributable to shareholders for the twelve months ended December 31, 2024, was approximately HKD 69.13 million, a decrease of about 49.7% from HKD 137.34 million in the previous year[6] - Basic and diluted loss per share for the twelve months ended December 31, 2024, was HKD 1.25, compared to HKD 2.49 for the same period in 2023[8] - The total comprehensive loss for the period was HKD 114.805 million, compared to HKD 189.420 million in the previous year, indicating a significant reduction in overall losses[9] - For the twelve months ending December 31, 2024, the company recorded a net loss of HKD 102,752,000, compared to a net loss of HKD 192,709,000 for the same period in 2023, indicating an improvement in financial performance[24] - The company's loss attributable to shareholders for the year ended December 31, 2024, was HKD 69,127,000, a significant improvement compared to a loss of HKD 137,336,000 in 2023, indicating a reduction in losses by about 50%[40] Revenue Breakdown - Revenue from water supply and related services increased to HKD 294,307,000 from HKD 286,829,000, representing a growth of about 2.6%[25] - Total reported segment revenue for the year ended December 31, 2024, was HKD 331,049,000, an increase from HKD 319,147,000 in 2023, representing a growth of approximately 3%[38] - Revenue from water supply and related services was approximately HKD 308,422,000, an increase of 3.47% or about HKD 10,343,000 compared to the previous year[63] - The property investment and development segment generated revenue of approximately HKD 22,527,000, up from HKD 20,809,000, reflecting an increase of about 8.25%[63] - The financial services segment recorded revenue of approximately HKD 100,000, a significant decrease of 61% from HKD 259,000 in the previous year[64] Cash Flow and Liquidity - The net cash generated from operating activities for the year ended December 31, 2024, was HKD 118,019,000, a decrease of 13.7% compared to HKD 136,907,000 in 2023[14] - The net cash used in investing activities significantly improved to HKD (28,167,000) from HKD (296,508,000) in the previous year, indicating a reduction of 90.5%[14] - The net cash used in financing activities also decreased to HKD (84,664,000) from HKD (166,190,000), reflecting a 49.1% reduction[14] - The net increase in cash and cash equivalents was HKD 5,188,000, a significant recovery from a decrease of HKD (325,791,000) in 2023[14] - As of December 31, 2024, cash and cash equivalents totaled HKD 228,010,000, slightly up from HKD 226,402,000 at the beginning of the year[14] - The company's cash and bank balances increased to HKD 146,323,000 from HKD 102,770,000, representing a growth of 42.3%[14] - The company has unutilized bank financing of HKD 445,034,000 as of December 31, 2024, which supports its liquidity position[24] Assets and Liabilities - Non-current assets decreased to HKD 1,450.970 million as of December 31, 2024, from HKD 1,517.086 million in the previous year[11] - Current liabilities increased to HKD 986.808 million as of December 31, 2024, compared to HKD 785.097 million in the previous year, indicating a rise in short-term financial obligations[12] - The company's net assets decreased to HKD 497.440 million as of December 31, 2024, from HKD 613.513 million in the previous year, reflecting a decline in overall equity[13] - The total equity attributable to shareholders as of December 31, 2024, was HKD 707,779,000, down from HKD 799,224,000 in 2023, indicating a decline of 11.5%[16] - The company's total current liabilities amounted to HKD 498,227,000 as of December 31, 2024[24] Shareholder and Capital Structure - The board did not recommend the payment of an interim dividend for the twelve months ended December 31, 2024, consistent with the previous year[6] - The company repurchased 11,670,000 shares at a total cost of HKD 1,268,000 during the year, compared to 3,680,000 shares for HKD 495,000 in the previous year[16] - The company's issued and paid-up share capital remains at HKD 55,130,000, with 5,513,000,000 shares issued as of December 31, 2024[58] - The company has capital commitments of HKD 5,569,000 for properties, plants, and equipment, down from HKD 14,968,000 in the previous year[59] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial report for the period ending December 31, 2024[140] - The company has maintained the required public float according to listing rules as of the report date[136] - The company has adopted the corporate governance code and has complied with applicable provisions, with some deviations noted regarding the roles of the chairman and CEO[137] Foreign Exchange and Risk Management - The company reported a significant decrease in foreign exchange losses, with a net loss of HKD 2,170,000 compared to HKD 7,218,000 in the previous year[26] - The company has not entered into any arrangements to hedge foreign exchange risks, which may impact operational performance due to fluctuations in the exchange rates of RMB and HKD[106] - The group is closely monitoring foreign exchange rate fluctuations to manage currency risk[106] Employment and Operational Changes - The group has a total of 410 employees as of December 31, 2024, a slight decrease from 412 employees a year earlier[99] - The group entered into a lease agreement for a commercial property in Guangzhou, China, with a total floor area of approximately 8,944 square meters, starting from January 1, 2025, with a monthly rent of RMB 686,712 (approximately HKD 730,675) for the first year[101] Strategic Initiatives - The company plans to review its investment property portfolio and adjust its investment strategy as necessary to improve cash flow[24] - The company plans to focus on water supply and property investment and development businesses to provide stable revenue sources while exploring potential investment opportunities in other segments[66]
环球实业科技(01026) - 2024 - 中期财报