Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately HKD 51,510,000, a decrease of about 29.0% compared to the previous year[3] - Gross profit for the year was approximately HKD 20,293,000, an increase of about 90.7% year-on-year[3] - Loss attributable to owners of the company was approximately HKD 43,195,000, a reduction of about 66.2% compared to the previous year[3] - Basic and diluted loss per share was HKD 0.13, compared to HKD 0.41 in the previous year[4] - The net loss for the year was approximately HKD 41,725,000, significantly lower than HKD 123,449,000 in the previous year[5] - Total revenue from external customers for the year ended December 31, 2024, was HKD 51,510,000, a decrease of 29% from HKD 72,557,000 in 2023[20] - The total segment loss for the year ended December 31, 2024, was HKD 18,027,000, significantly improved from a loss of HKD 84,479,000 in 2023[22] - The company reported a net loss of HKD 41,725,000 for the year ended December 31, 2024, a significant reduction from a loss of HKD 123,449,000 in 2023[22] - Shareholders' loss for the year 2024 was approximately HKD 43,195,000, a decrease from HKD 127,733,000 in 2023, mainly due to expenses related to the development of the Holosens project, depreciation, and financial costs[43] Assets and Liabilities - The company's total assets less current liabilities amounted to HKD (173,382,000) as of December 31, 2024, compared to HKD (157,826,000) in the previous year[7] - Current liabilities net amounted to HKD (216,800,000) as of December 31, 2024, compared to HKD (208,024,000) in the previous year[7] - The group has a total principal amount of approximately HKD 214,684,000 in loans from related parties and accrued interest of about HKD 13,000,000, with HKD 225,721,000 due in 2025[10] - The net current liabilities increased to approximately HKD 216,800,000 from HKD 208,024,000 in 2023, primarily due to reclassification of loans from related parties[55] - The group's debt-to-asset ratio decreased from 298.0% in 2023 to 246.3% in 2024, attributed to a reduction in loans from related parties[58] Cash Flow and Liquidity - The company’s cash and bank balances were HKD 8,491,000 as of December 31, 2024, down from HKD 10,189,000 in the previous year[6] - As of December 31, 2024, the group recorded cash and bank balances of approximately HKD 8,491,000, indicating a cautious approach to short-term liquidity[10] - The group emphasizes the importance of cash flow management to meet its financial obligations over the next twelve months[10] - The group plans to manage liquidity needs and improve financial conditions through measures such as monitoring trade receivables, cost control, and negotiating debt repayment extensions[10] - The group recorded a net loss of approximately HKD 41,725,000 and an operating cash outflow of about HKD 19,730,000 for the year ended December 31, 2024[71] Segment Performance - Revenue from the cloud computing segment was HKD 15,080,000 in 2024, down 27% from HKD 20,796,000 in 2023[20] - The online gaming segment reported a loss of HKD 71,649,000 in 2023, while the segment showed a recovery with a loss of only HKD 16,371,000 in 2024[22] - Revenue from the eSports segment was HKD 29,737,000 in 2024, compared to HKD 24,860,000 in 2023, indicating a growth of 19%[20] - Online gaming revenue decreased by approximately 27.5% to HKD 15,080,000, down from HKD 20,796,000 in 2023, primarily due to a reduction in contributions from the Metasens project[45] - Esports business revenue increased by approximately 19.6% to HKD 29,737,000, up from HKD 24,860,000 in 2023, driven by revenue growth from teams other than the Peace Elite team[48] Administrative and Operational Expenses - The company reported a significant decrease in administrative expenses to HKD 47,665,000 from HKD 90,056,000 year-on-year[4] - Administrative expenses decreased from approximately HKD 90,056,000 in 2023 to HKD 47,665,000 in 2024, mainly due to reductions in share-based payments, employee costs, and R&D expenses[54] - The group employed approximately 137 employees, with total employee compensation decreasing from HKD 52,595,000 in 2023 to HKD 34,256,000 in 2024, mainly due to a reduction in stock option expenses[61] Future Outlook and Strategic Initiatives - The company aims to continue developing the Metasens project, particularly the Holosens initiative, as a key driver for future economic growth[42] - The company recognizes the long-term development potential of emerging technologies, including AI and blockchain, and plans to seize related market opportunities[41] - The group plans to explore business opportunities related to blockchain technology, AI, and Web3, extending beyond existing segments[51] Compliance and Reporting Standards - The application of the revised Hong Kong Financial Reporting Standards is not expected to have a significant impact on the group's financial performance and condition[12] - The group continues to assess the impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements[17] - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective, anticipating no significant impact on its performance[13] Dividends and Shareholder Returns - The company did not declare or recommend any dividends for the year ending December 31, 2024, consistent with the previous year[31] - The board does not recommend the payment of any final dividend for the year ended December 31, 2024, consistent with the previous year[73]
帝国科技集团(00776) - 2024 - 年度业绩