Financial Performance - Total revenue for the year ended December 31, 2024, was MOP 675,230,000, representing an increase of 15.8% compared to MOP 582,928,000 in 2023[3] - Gross profit decreased to MOP 7,034,000 from MOP 10,329,000, reflecting a decline of 32.2% year-over-year[3] - Operating loss improved to MOP 18,074,000 from MOP 27,222,000, a reduction of 33.5% compared to the previous year[3] - The company reported a net loss attributable to owners of MOP 17,691,000, an improvement from a loss of MOP 34,123,000 in 2023[3] - Basic and diluted loss per share improved to MOP 1.61 from MOP 3.12, indicating a 48.7% reduction in loss per share[3] - The group recorded a pre-tax loss of MOP 22,040,000 for 2024, compared to a loss of MOP 33,429,000 in 2023, showing an improvement of approximately 34%[18] - The total comprehensive loss for the year ended December 31, 2024, was approximately 17.7 million Macanese Patacas, a decrease from 34.1 million Macanese Patacas in the previous year[43] - Basic loss per share for the year ended December 31, 2024, was approximately 1.61 Macanese Patacas, compared to 3.12 Macanese Patacas in the previous year[44] Assets and Liabilities - Total assets decreased to MOP 443,006,000 from MOP 467,754,000, a decline of 5.3% year-over-year[4] - Total liabilities decreased to MOP 282,227,000 from MOP 289,284,000, a reduction of 2.5% compared to the previous year[5] - Cash and cash equivalents increased to MOP 28,701,000 from MOP 18,952,000, representing a growth of 51.5% year-over-year[4] - The company’s non-current assets increased to MOP 125,895,000 from MOP 95,210,000, a growth of 32.3% year-over-year[4] - Trade receivables increased to 71,371 thousand MOP in 2024 from 69,906 thousand MOP in 2023, with a notable increase in receivables within 30 days, rising to 60,085 thousand MOP from 44,441 thousand MOP[27] - Trade payables decreased to 106,382 thousand MOP in 2024 from 116,450 thousand MOP in 2023, showing a 9% reduction in trade payables[28] - Bank borrowings rose significantly to 106,371 thousand MOP in 2024 from 73,212 thousand MOP in 2023, representing a 45% increase[29] - The effective interest rate on bank borrowings decreased to 4.06% in 2024 from 4.38% in 2023, indicating a slight improvement in borrowing costs[29] Operational Highlights - The company secured 29 construction and fitting-out service projects with a total contract value of 650.8 million MOP as of December 31, 2024[35] - As of December 31, 2024, the company had a backlog of 21 construction and fitting-out service projects with a total outstanding contract value of 763.8 million MOP[35] - The company completed 39 construction and fitting-out service projects during the fiscal year ending December 31, 2024[35] - The group expects to continue focusing on construction and fitting services as its primary operational segment moving forward[16] Expenses and Costs - Administrative expenses rose to MOP 30,985,000 from MOP 29,797,000, an increase of 4.0% compared to the previous year[3] - The cost of materials and subcontractors increased to MOP 420,675,000 in 2024 from MOP 403,547,000 in 2023, marking a rise of about 4.2%[19] - Financing costs decreased to MOP 3,966,000 in 2024 from MOP 6,182,000 in 2023, a reduction of about 35.5%[21] - Total employee costs for the year ended December 31, 2024, were approximately 151.9 million MOP, an increase from about 111.1 million MOP in 2023[57] Financial Management and Governance - The board believes that the company will have sufficient operating funds to meet its financial obligations due within the next twelve months, considering expected cash flows and potential additional financing[10] - The company plans to implement cost control measures and accelerate the collection of trade receivables to generate sufficient operating cash inflows[9] - The company has adhered to the corporate governance code and has no significant deviations from the required standards[64] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements and accounting policies for the year ending December 31, 2024[68] Future Outlook - The group anticipates increased activity in the Macau construction market driven by the recovery of the gaming and tourism industries, which is expected to enhance market share in both public and private sectors[58] - The group is committed to cost control and operational efficiency to ensure financial performance amidst potential challenges such as rising material costs due to tariffs[58] - The company plans to explore new market opportunities, including the Bay Area, to diversify its business portfolio[58] - The group remains optimistic about future prospects despite economic uncertainties and aims to create value for its stakeholders[59]
建鹏控股(01722) - 2024 - 年度业绩