Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 403,359,000, representing an increase of 2.9% from HKD 392,220,000 in 2023[3] - Gross profit for the same period was HKD 62,753,000, down 8.5% from HKD 68,364,000 in 2023[3] - The net loss for the year was HKD 9,251,000 compared to a profit of HKD 513,000 in 2023, indicating a significant decline in profitability[4] - Basic and diluted loss per share was HKD 0.60, compared to earnings of HKD 0.03 per share in the previous year[3] - Revenue from external customers for the year ended December 31, 2024, was HKD 403,359,000, an increase from HKD 392,220,000 in 2023, representing a growth of approximately 2.9%[19] - The segment performance for the year ended December 31, 2024, was HKD 62,753,000, compared to HKD 68,364,000 in 2023, indicating a decrease of about 8.2%[17] - The company reported a net loss of HKD 9,251,000 for the year ended December 31, 2024, compared to a profit of HKD 513,000 in 2023, marking a significant decline[18] - The gross profit for the year was approximately HKD 62,753,000, a decrease of 8.2% from HKD 68,364,000 in 2023, resulting in a gross margin decline from 17.4% to 15.6%[37] Assets and Liabilities - Non-current assets decreased to HKD 157,069,000 in 2024 from HKD 164,717,000 in 2023[5] - Current assets increased to HKD 199,194,000 in 2024, up from HKD 189,322,000 in 2023[5] - Total liabilities rose to HKD 149,381,000 in 2024, compared to HKD 138,645,000 in 2023[5] - The company's total equity decreased to HKD 205,012,000 in 2024 from HKD 214,359,000 in 2023[5] - The company reported a significant increase in trade and other payables, which rose to HKD 99,145,000 in 2024 from HKD 88,603,000 in 2023[5] Expenses and Costs - The total service costs for the year ended December 31, 2024, amounted to HKD 340,606,000, up from HKD 323,856,000 in 2023, reflecting an increase of approximately 5.2%[18] - The company’s administrative and other operating expenses for the year ended December 31, 2024, were HKD 80,915,000, compared to HKD 78,236,000 in 2023, an increase of about 3.4%[18] - The company’s financing costs for the year ended December 31, 2024, were HKD 2,672,000, compared to HKD 2,873,000 in 2023, indicating a decrease of about 7%[18] - The total operating expenses for the company were HKD 47,655,000 in 2024, compared to HKD 50,447,000 in 2023, indicating a decline of approximately 5.6%[20] - The total rental expenses under short-term leases were HKD 46,278,000 in 2024, down from HKD 63,166,000 in 2023, reflecting a decrease of approximately 26.7%[20] Income and Other Gains - The company recognized other income of HKD 16,571,000 for the year ended December 31, 2024, compared to HKD 15,069,000 in 2023, representing an increase of approximately 10%[19] - The group reported other income of approximately HKD 16,571,000, an increase of about HKD 1,502,000 compared to the previous year, driven by increased sales of scrap containers and bank interest income[41] Taxation - The group recorded a total tax expense of approximately HKD 190,834,000 for the fiscal year ending December 31, 2024, compared to HKD 6,765,000 in the previous year[22] - The group has no taxable profits in China for the fiscal year ending December 31, 2024, thus no corporate income tax was accrued[24] - The group has confirmed a tax provision shortfall of approximately HKD 6,762,000 for prior years, with no provisions in 2023[22] Corporate Governance and Management - The company operates primarily in investment holding and provides maritime freight and freight agency services in Hong Kong and the People's Republic of China[7] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[8] - The company continues to adhere to corporate governance principles and standards, aiming to enhance governance levels in response to increasing regulatory requirements[59] - The executive directors of the company include Mr. Liu Yu Liang, Mr. Liu De Feng, and Mr. Liu De Qi[62] - The non-executive director is Ms. Tang Hong Chen, while the independent non-executive directors are Mr. Lu Wen Sheng, Mr. Lin Lu, Mr. Li Jia Lin, and Mr. Gan Cheng Zhuo[62] Future Outlook and Strategy - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[3] - The group anticipates challenges due to ongoing U.S.-China trade tensions, which may pressure cargo volumes from China and impact future profitability[42] - The group plans to implement cost-saving measures and seek new revenue sources to navigate significant challenges ahead[42] Employment and Workforce - The group employed 176 employees as of December 31, 2024, a decrease from 182 employees in the previous year[54] Dividends - The group has no proposed dividend for the fiscal year ending December 31, 2024, consistent with the previous year[25] - The board of directors decided not to recommend any dividend payment for the year ended December 31, 2024[56]
永丰集团控股(01549) - 2024 - 年度业绩