Financial Performance - For the fiscal year ending December 31, 2024, the operating revenue was HKD 121.6 million, an increase of 7.4% compared to HKD 113.3 million in the fiscal year 2023[5]. - The gross profit for the fiscal year 2024 was HKD 62.0 million, representing a significant increase of 52.5% from HKD 40.7 million in the fiscal year 2023[5]. - The profit before tax for the fiscal year 2024 was HKD 1.2 million, up 65.0% from HKD 0.7 million in the fiscal year 2023[5]. - The net loss for the fiscal year 2024 was HKD 9.3 million, compared to a net loss of HKD 8.1 million in the fiscal year 2023[5]. - The group reported a total comprehensive loss of HKD 26.1 million for the fiscal year 2024, compared to HKD 11.0 million in the fiscal year 2023[7]. - The basic and diluted loss per share for the fiscal year 2024 was HKD 0.79, compared to HKD 0.75 in the fiscal year 2023[6]. - The company reported a pre-tax profit of HKD 1,155,000 for the year ended December 31, 2024, compared to HKD 700,000 in 2023, reflecting an increase of approximately 65.0%[27]. - The company recorded a revenue of HKD 121.6 million for the fiscal year 2024, an increase of 7.4% compared to HKD 113.3 million in fiscal year 2023[50]. Expenses and Costs - Research and development expenses for the fiscal year 2024 amounted to HKD 3.2 million, indicating a new investment in innovation[6]. - The total administrative expenses increased to HKD 34.1 million in fiscal year 2024 from HKD 26.5 million in fiscal year 2023[6]. - Administrative expenses increased by 28.8% to HKD 34.1 million in fiscal year 2024, primarily due to rising employee costs and legal fees[59]. - The total cost of sales decreased by 17.9% to HKD 59.6 million in fiscal year 2024, mainly due to reduced water and electricity costs in the wastewater treatment business[55]. - Financing costs decreased slightly from HKD 12.7 million in FY2023 to HKD 12.1 million in FY2024, a reduction of 0.6 million or 4.7%[61]. Assets and Liabilities - Non-current assets decreased from HKD 65,204,000 to HKD 55,405,000, a decline of approximately 15%[8]. - Current assets increased from HKD 123,982,000 to HKD 127,392,000, an increase of about 2.5%[8]. - Total liabilities decreased from HKD 117,327,000 to HKD 110,942,000, a reduction of approximately 5.5%[8]. - Total equity decreased from HKD 278,900,000 to HKD 252,805,000, a decline of around 9.4%[9]. - The company's total assets decreased slightly from HKD 408,774,000 to HKD 405,772,000, a decrease of about 0.5%[9]. - Total liabilities increased to HKD 263,909,000 in 2024 from HKD 247,201,000 in 2023, marking an increase of about 6.8%[28][29]. - The company's total bank borrowings amounted to HKD 75.4 million as of December 31, 2024, with a debt-to-asset ratio increasing from 66.0% in fiscal year 2023 to 80.0% in fiscal year 2024[51]. Revenue Sources - Revenue from operational services under service concession arrangements was HKD 55.915 million, up 54.5% from HKD 36.165 million in the previous year[24]. - Revenue from information technology services surged to HKD 12.499 million, a significant increase from HKD 3.688 million in 2023[24]. - The group reported a total revenue from customer contracts of HKD 102.989 million, compared to HKD 95.986 million in the previous year[24]. - Interest income from receivables under service concession arrangements was HKD 18.627 million, slightly up from HKD 17.293 million[24]. - The total amount of bank borrowings utilized as of December 31, 2024, was HKD 75.4 million, with HKD 46.8 million due on demand and HKD 28.6 million due within one year[67]. Strategic Initiatives - The company is focusing on strategic growth plans, including the expansion of wastewater treatment facilities in Rugao, China, and plans to sell its wood pellet production business[47]. - The company anticipates the completion of the Rugao Hengfa facility expansion project in the first half of 2025, which will enhance wastewater treatment capacity from 40,000 tons to 50,000 tons per day[52]. - The company is committed to completing the sale of 80% of the RPSL wood pellet production business by the first half of 2025, despite delays due to government approvals[49]. - The company expects stable revenue sources from the Bangka Island project, which began operations at the end of July 2024 under a 25-year fixed-price agreement with Indonesia's main power supplier[49]. Governance and Compliance - The board of directors did not recommend the payment of a final dividend for the fiscal year 2024, consistent with the previous fiscal year[5]. - The company does not plan to pay a final dividend for the fiscal year 2024, consistent with the previous fiscal year[83]. - The external auditor has confirmed the consistency of the financial statements as of December 31, 2024, with the audited consolidated financial statements for the fiscal year[87]. - The company has established an audit committee to oversee financial reporting, risk management, and internal controls[88]. - There were no purchases, sales, or redemptions of the company's listed securities during the fiscal year[90]. Employee and Operational Metrics - As of December 31, 2024, the group has 302 employees, an increase from 176 employees as of December 31, 2023[78]. - Employee costs for the fiscal year 2024 are approximately HKD 16.3 million, compared to HKD 15.5 million in the fiscal year 2023[78].
强泰环保(01395) - 2024 - 年度业绩