Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was HKD 26,845,000, a decrease of 40.5% compared to HKD 45,230,000 in 2023[4] - The gross profit for the same period was HKD 21,238,000, down 24.1% from HKD 27,945,000 in the previous year[4] - The net loss for the fiscal year was HKD 38,606,000, compared to a net loss of HKD 26,957,000 in 2023, representing a 43.4% increase in losses[4] - The basic and diluted loss per share for 2024 was HKD 8.58, compared to HKD 3.88 in 2023, indicating a significant increase in per-share losses[4] - The company reported a total comprehensive loss of HKD 39,230,000 for the year, compared to HKD 26,841,000 in 2023, marking a 46.2% increase in comprehensive losses[5] - The company reported a pre-tax loss of HKD 34,238,000 for the year ended December 31, 2024, compared to a loss of HKD 15,484,000 in 2023, representing a year-over-year increase of 121.5% in losses[20] - The company recorded a net loss of approximately HKD 38.6 million for the fiscal year 2024, compared to a net loss of approximately HKD 27 million for the fiscal year 2023, primarily due to an increase in goodwill impairment losses of HKD 23.5 million[35] Asset and Liability Changes - Total assets decreased to HKD 261,469,000 in 2024 from HKD 298,023,000 in 2023, reflecting a decline of 12.3%[6] - Non-current assets decreased to HKD 86,147,000 in 2024 from HKD 121,700,000 in 2023, a decline of 29.2%[6] - The company's net asset value decreased to HKD 175,951,000 in 2024 from HKD 215,181,000 in 2023, a reduction of 18.2%[7] - Reportable segment assets decreased to HKD 259,290,000 in 2024 from HKD 301,133,000 in 2023, a reduction of 13.9%[14] - Reportable segment liabilities decreased to HKD 84,820,000 in 2024 from HKD 87,610,000 in 2023, a decline of 3.2%[14] - Accounts receivable decreased to HKD 7,960,000 in 2024 from HKD 13,188,000 in 2023, a reduction of 39.5%[25] - The company’s total receivables, including interest receivable, amounted to HKD 22,368,000 in 2024, down from HKD 27,379,000 in 2023, a decrease of 18.3%[25] - The company’s non-current receivables decreased to HKD 2,986,000 in 2024 from HKD 4,884,000 in 2023, reflecting a decline of 38.7%[25] - The company’s accounts payable decreased from HKD 4.326 million in 2023 to HKD 3.685 million in 2024[33] - The company’s other payables and accrued expenses increased from HKD 37.378 million in 2023 to HKD 40.206 million in 2024[33] Revenue by Segment - Medical service revenue decreased to HKD 9,254,000 in 2024 from HKD 27,366,000 in 2023, representing a decline of 66.1%[15] - The medical division generated revenue of approximately HKD 7.6 million in fiscal year 2024, down from HKD 25.6 million in the previous year, attributed to a slowdown in consumer demand due to macroeconomic conditions in China[37] - Interest income from third-party loans was HKD 17,591,000 in 2024, slightly down from HKD 17,864,000 in 2023, a decrease of 1.5%[15] - The company confirmed third-party loan interest income of HKD 17.6 million for fiscal year 2024, slightly down from HKD 17.9 million in the previous year[39] Goodwill and Impairment - The company's goodwill impairment loss for the year was HKD 23,473,000, which was not present in the previous year[4] - The goodwill impairment loss recognized was approximately HKD 23,473,000 due to declining revenue trends at the Shanghai hospital, influenced by macroeconomic challenges in China[24] - The company recorded a goodwill impairment loss of HKD 23,473,000 in 2024, with no such loss reported in 2023[13] Taxation and Dividends - The company did not make any provisions for Hong Kong profits tax in 2024 due to accumulated tax losses exceeding two years[18] - The effective tax rate for the company's Chinese subsidiaries remained at 25% for both years[18] - The company did not declare any final dividend for the year ended December 31, 2024, consistent with the previous year[21] - The board of directors has proposed not to declare a final dividend for the year ending December 31, 2024, consistent with the previous year[51] Business Strategy and Development - The company has identified four reportable segments: Investment Holding, Healthcare, Lending and Related Services, and Hotel Services, indicating a diversified business model[9] - The company is actively developing and expanding its core business in the medical and aesthetic surgery sectors in China and other Asian markets[41] - Management is actively seeking new business opportunities to diversify and increase revenue sources while developing existing business[46] - The group has launched comprehensive online promotions on platforms like Xiaohongshu and Douyin, and won the Bazaar Beauty Annual Award in 2024, enhancing brand influence and online visibility[43] - The group will continue its lending and related businesses in 2025, adopting more cautious credit assessments due to geopolitical tensions affecting global and Chinese macroeconomic conditions[44] - The group plans to hold various trading securities and will adjust its investment portfolio to adapt to economic conditions, aiming to improve investment returns through short-term investment plans[45] - The company plans to launch new skincare products by the end of fiscal year 2024, which are expected to become a new revenue source[38] Expenses and Cost Management - Depreciation and amortization expenses for reportable segments totaled HKD 7,979,000 in 2024, down from HKD 9,076,000 in 2023, a decrease of 12.1%[13] - The company’s prepaid expenses included approximately HKD 3,500,000 paid to business consultants for professional fees in 2024, down from HKD 5,400,000 in 2023[27]
天元医疗(00557) - 2024 - 年度业绩