Financial Performance - Revenue for the year ended December 31, 2024, was HKD 67,711,000, a decrease of 56.0% compared to HKD 153,748,000 in 2023[5] - Gross profit for the same period was HKD 23,466,000, down 57.7% from HKD 55,457,000 in the previous year[5] - The company reported a loss before tax of HKD 13,357,000, compared to a profit of HKD 9,446,000 in 2023[5] - Total comprehensive income for the year was a loss of HKD 4,551,000, compared to a profit of HKD 9,468,000 in the prior year[5] - Basic and diluted loss per share was HKD (2.14), compared to earnings of HKD 1.15 per share in 2023[8] - The operating loss for the group was HKD 11,528 thousand, with a pre-tax loss of HKD 13,357 thousand for the year[22] - The group recognized a tax credit of HKD 339 thousand, resulting in a net loss of HKD 13,018 thousand for the year[22] - The company reported a net profit of HKD 7,262,000 for the year, compared to a profit of HKD 6,888,000 in 2023, indicating a decline in profitability[33] - The company recorded a net loss of HKD 13.0 million for the year, compared to a profit of HKD 7.3 million in the previous year, primarily due to a decline in gross profit[55] Assets and Liabilities - The company's total assets decreased to HKD 147,947,000 in 2024 from HKD 139,522,000 in 2023[9] - Non-current assets were HKD 20,471,000, down from HKD 41,081,000 in the previous year[9] - The asset-liability ratio improved to 1.7% from 4.7% in 2023[5] - The company’s cash and cash equivalents decreased to HKD 23,390,000 from HKD 28,304,000 in the previous year[9] - Trade receivables decreased to HKD 67,372,000 in 2024 from HKD 75,661,000 in 2023, with a provision for losses of HKD 6,629,000[35] - Trade payables increased to HKD 28,507,000 in 2024 from HKD 25,922,000 in 2023, indicating a rise in liabilities[37] - The net capital debt ratio as of December 31, 2024, was 1.7%, a significant decrease from 4.7% in 2023, with total debts amounting to HKD 1.6 million against equity attributable to shareholders of HKD 99.0 million[60] Revenue Breakdown - The segment revenue from the Tunnel division was HKD 63,462 thousand, while the Foundation division contributed HKD 4,249 thousand, resulting in a combined segment performance of HKD 67,711 thousand[22] - Revenue from external customers in 2024 decreased to HKD 67,711,000, down 56% from HKD 153,748,000 in 2023[24] - Major customers contributed significantly to revenue, with Customer A generating HKD 20,316,000 and Customer B contributing HKD 17,452,000 in 2024[25] Comprehensive Income - Other comprehensive income increased significantly by 283.8% to HKD 8,467,000 from HKD 2,206,000 in 2023[5] - Other comprehensive income for the year was HKD 8.9 million, attributed to the increase in fair value of land and buildings located in Australia[56] Accounting Standards and Policies - The group is currently evaluating the impact of new or revised Hong Kong Financial Reporting Standards, with no significant effects anticipated on the financial statements[17] - The adoption of the revised Hong Kong Financial Reporting Standards effective from January 1, 2024, is not expected to have a major impact on the group's financial statements[18] - The group has implemented new accounting policies regarding the classification and measurement of financial instruments, which are expected to have minimal impact on the financial statements[19] - The group is analyzing the new requirements of the Hong Kong Financial Reporting Standards and assessing their impact on financial statement presentation and disclosure[18] Employee and Operational Costs - The total employee cost for the year ended December 31, 2024, was approximately HKD 15.0 million, slightly down from HKD 15.1 million in 2023, with a total workforce of 41 employees compared to 43 in the previous year[68] - The company incurred total expenses of HKD 98,291,000, with cost of sales accounting for HKD 95,652,000[23] Market Strategy - The company is focusing on expanding its overseas market presence, particularly in Australia and Europe, anticipating improved performance in the coming year[45] - The company plans to closely monitor potential opportunities related to major infrastructure projects in the Hong Kong market, while avoiding aggressive price competition[43] Investments and Financing - The company has entered into two conditional agreements to sell and purchase two industrial properties in Australia, with a sale price of AUD 6.0 million and a purchase price of AUD 2.75 million, expected to be completed by January 30, 2025[62] - The total bank borrowings as of December 31, 2024, were HKD 21.5 million, down from HKD 28.1 million in 2023, with short-term borrowings of HKD 19.7 million compared to HKD 24.6 million in the previous year[58] - The company maintained a close monitoring of its working capital and liquidity, with available bank and other financing totaling approximately HKD 33.5 million, of which HKD 21.5 million was utilized[57] Dividends and Securities - The company did not recommend the payment of interim and final dividends for the year ended December 31, 2024, consistent with the previous year[41] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the year ended December 31, 2024[75] Audit and Compliance - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2024, and confirmed consistency with the audited financial statements[76] - The annual performance announcement will be published on the Stock Exchange and the company's website, containing all information required by the GEM Listing Rules[77]
明梁控股(08152) - 2024 - 年度业绩