Financial Performance - The group recorded revenue of approximately HKD 57 million for the year ending December 31, 2024, a decrease of about 27.2% compared to approximately HKD 78.4 million in 2023[3]. - The loss attributable to equity holders for the year ending December 31, 2024, was HKD 55.8 million, a reduction of approximately 43.3% from the loss of about HKD 98.4 million in the previous year[3]. - The total revenue for the year ended December 31, 2024, was HKD 57,049,000, a decrease of 27.2% compared to HKD 78,381,000 in 2023[59]. - The company reported a net loss of HKD 66,353,000 for the year, compared to a net loss of HKD 101,059,000 in 2023, representing a 34.3% reduction in losses[59]. - The total annual loss for 2024 was HKD 66,353,000, a decrease of 34.4% compared to a loss of HKD 101,059,000 in 2023[60]. - The total comprehensive loss for the year amounted to HKD 81,805,000, down from HKD 112,957,000 in the previous year, representing a reduction of 27.6%[60]. - The company recognized an impairment loss on goodwill amounting to HKD 9,357,000, with no such loss reported in the previous year[59]. - The group incurred a total annual loss of HKD 66,353,000 in 2024, compared to a loss of HKD 101,059,000 in 2023, indicating an improvement of 34.3%[73]. Revenue Breakdown - The real estate business contributed approximately HKD 22,600,000 to revenue, maintaining stability compared to HKD 24,300,000 in the previous year[16]. - Financial services recorded revenue of approximately HKD 6,900,000, up from HKD 5,900,000 in the same period last year[10][16]. - The automotive business did not generate any revenue this period, compared to HKD 11,700,000 in the previous year[11][16]. - The restaurant business generated approximately HKD 27,500,000 in revenue, down from HKD 36,500,000 in the previous year[12][16]. - The real estate segment generated revenue of HKD 22,601,000 in 2024, down from HKD 24,282,000 in 2023, representing a decline of 6.9%[73]. - The financial services segment reported interest income of HKD 6,904,000 in 2024, an increase of 17.8% from HKD 5,857,000 in 2023[73]. - The automotive segment recorded a loss of HKD 4,519,000 in 2024, compared to a profit of HKD 375,000 in 2023[73]. - The restaurant segment's revenue decreased significantly from HKD 36,542,000 in 2023 to HKD 27,544,000 in 2024, a drop of 24.6%[73]. Assets and Liabilities - As of December 31, 2024, the total current assets of the group amounted to approximately HKD 566.8 million, an increase from HKD 517.3 million as of December 31, 2023[25]. - The group's cash and cash equivalents were approximately HKD 14.8 million as of December 31, 2024, down from HKD 39.7 million as of December 31, 2023[25]. - The current ratio as of December 31, 2024, was approximately 436.32%, slightly decreased from 449.82% as of December 31, 2023[25]. - Non-current assets decreased significantly from HKD 212,874,000 in 2023 to HKD 93,129,000 in 2024, a decline of 56.3%[61]. - Current assets increased from HKD 517,319,000 in 2023 to HKD 566,812,000 in 2024, reflecting a growth of 9.5%[61]. - Total assets decreased from HKD 730,193,000 in 2023 to HKD 659,941,000 in 2024, a decline of 9.6%[61]. - The total equity attributable to the company's owners decreased from HKD 615,332,000 in 2023 to HKD 547,348,000 in 2024, a reduction of 11.0%[62]. - Current liabilities increased from HKD 115,005,000 in 2023 to HKD 129,907,000 in 2024, an increase of 12.9%[62]. - The net current assets increased from HKD 402,314,000 in 2023 to HKD 436,905,000 in 2024, a growth of 8.6%[62]. Corporate Governance - The company is committed to high levels of corporate governance and has adhered to all applicable corporate governance codes as of December 31, 2024[45]. - The company has established a remuneration committee responsible for reviewing and advising on the remuneration policies for directors and senior management[50]. - The audit committee is tasked with ensuring the integrity of financial reporting and risk management systems, maintaining appropriate relationships with external and internal auditors[52]. - The company has complied with the listing rules regarding the appointment of independent non-executive directors[56]. Future Plans and Strategies - The group expects stable or slightly improved performance in financial services, automotive, and restaurant businesses due to anticipated interest rate decreases and slight growth in consumer demand[13]. - The group plans to expand its business based on market demand and available capital[14]. - The company plans to expand its financial services and invest in the food and beverage industry, indicating a strategic focus on growth in these sectors[43]. - The group plans to assess the specific impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[69]. - The company plans to publish its annual report and corporate governance report by April 30, 2025[58]. Shareholder Information - The company did not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[3]. - The group did not declare any dividends for the year ending December 31, 2024, consistent with 2023[86]. - The weighted average number of ordinary shares used to calculate basic and diluted loss per share increased to 970,157,660 in 2024 from 677,194,836 in 2023, indicating a rise of about 43.3%[10]. Impairment and Fair Value Losses - The company incurred a fair value loss on financial assets of HKD 18,095,000, significantly reduced from HKD 63,035,000 in the prior year[59]. - The group recognized a goodwill impairment loss of HKD 9,357,000 in 2024, with no such loss reported in 2023[73]. - The group reported a fair value loss on financial assets of HKD 18,095,000 in 2024, compared to a loss of HKD 63,035,000 in 2023, showing a significant reduction[73].
GBA集团(00261) - 2024 - 年度业绩