Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 390.617 million, an increase of 12.3% compared to HKD 69.487 million in 2023[4] - Gross profit for the same period was HKD 57.654 million, significantly up from HKD 19.423 million, reflecting a gross margin improvement[4] - Operating profit for the year was HKD 18.884 million, a turnaround from an operating loss of HKD 106.720 million in the previous year[4] - The company reported a net profit attributable to shareholders of HKD 17.752 million, compared to a net loss of HKD 107.699 million in 2023[4] - The basic earnings per share improved to HKD 5.83 from a loss per share of HKD 37.60 in the previous year[4] - The group reported a segment profit of HKD 37,683,000 for the aesthetic medical and beauty services division in 2024, compared to a segment loss of HKD 90,366,000 in 2023[21] - The segment loss for medical services was HKD 3,471,000 in 2024, compared to a loss of HKD 2,633,000 in 2023, indicating a worsening performance[21] - The group achieved a net profit of approximately HKD 17,750,000, reversing a loss of about HKD 107,700,000 in the previous year[38] Assets and Liabilities - Total assets decreased to HKD 135.709 million from HKD 185.897 million in the previous year, indicating a reduction in asset base[6] - Total liabilities also decreased to HKD 110.512 million from HKD 174.104 million, showing improved financial leverage[6] - The group's total assets decreased from HKD 185,897,000 in 2023 to HKD 135,709,000 in 2024, a decline of approximately 27%[22] - The group’s total liabilities decreased from HKD 174,104,000 in 2023 to HKD 110,512,000 in 2024, a reduction of approximately 36.5%[22] - Current liabilities due within one year amount to approximately HKD 58,869,000, while cash and bank balances included in current assets are approximately HKD 22,702,000[9] - The group’s asset-liability ratio based on shareholder loans and total equity was 1.95 as of December 31, 2024, down from 2.99 in the previous year[42] Cash Flow and Funding - Cash and bank balances increased significantly from HKD 3,334,000 in 2023 to HKD 22,702,000 in 2024, reflecting a growth of about 581%[22] - The company is actively seeking additional funding through equity financing to support operational capital and repay existing debts[10] - The major shareholder, Mr. Wang Chuang, has confirmed financial support to the group until June 30, 2026, to meet due liabilities and continue operations without significant business reduction[10] - The group reported a foreign exchange loss of HKD 4.348 million, compared to a loss of HKD 0.424 million in the previous year, impacting overall comprehensive income[5] Operational Plans and Strategies - The company plans to focus on expanding its market presence and enhancing product development in the upcoming fiscal year[5] - The group plans to continue expanding its business in the healthcare sector and will reallocate resources as necessary to maintain its leading position in health products and services[37] Compliance and Governance - The independent auditor expressed a qualified opinion regarding the financial statements due to significant uncertainties affecting the group's ability to continue as a going concern[62] - The group has complied with all provisions of the corporate governance code, except for the separation of roles between the Chairman and the CEO, which are held by the same individual[53] - The audit committee, composed of all independent non-executive directors, reviewed the group's performance for the year ending December 31, 2024[54] - Directors confirm that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[66] Accounting Policies and Standards - The group has adopted new and revised standards effective from January 1, 2024, but these have not significantly impacted the group's performance and financial position[12] - The group has not made significant changes to its major accounting policies or made retrospective adjustments due to the adoption of new standards[12] - The group expects no significant financial impact from the adoption of the new standards and is currently reviewing its accounting policy disclosures to ensure compliance[16] - The group plans to adopt the new Hong Kong Financial Reporting Standard No. 18 starting from January 1, 2027, which will require retrospective application for comparative information[16] Employee and Compensation - As of December 31, 2024, the total employee compensation (including director remuneration and retirement benefit plan contributions) was approximately HKD 16,580,000, an increase from HKD 15,990,000 in 2023[51] - The group had 34 employees in Hong Kong and mainland China as of December 31, 2024, down from 46 employees in 2023[51] Dividends and Shareholder Returns - The group did not propose any dividend payments for both years, maintaining a policy of no dividends[26] - The company did not recommend the distribution of any dividends for the year ending December 31, 2024[55] Miscellaneous - The group has not disclosed any specific plans for major investments or capital assets as of December 31, 2024[50] - There were no significant events after the reporting period[56] - The company did not engage in any purchases, sales, or redemptions of its listed securities during the year[52] - The announcement complies with GEM listing rules and aims to provide relevant information about the company[66] - The company will publish the notice of the annual general meeting on its website and the Stock Exchange website[63]
中国再生医学(08158) - 2024 - 年度业绩