Financial Performance - The company reported total revenue of HKD 91,494,000 for the year ending December 31, 2024, representing a 70.4% increase from HKD 53,730,000 in 2023[4] - Other income, profits, and losses netted HKD 29,915,000, a significant rise from HKD 443,000 in the previous year[4] - The company incurred a total loss of HKD 10,333,000 for the year, compared to a loss of HKD 6,079,000 in 2023, indicating a 69.5% increase in losses[5] - Basic and diluted loss per share increased to HKD 2.08 from HKD 1.79, reflecting a worsening financial position[5] - Total revenue for the year 2024 reached HKD 91,494,000, a significant increase of 70.4% compared to HKD 53,730,000 in 2023[18] - The company incurred a net loss of HKD 10.3 million, an increase of 70% compared to the previous year, primarily due to substantial costs associated with hosting ComplexCon Hong Kong[44] - The group recorded a loss of approximately HKD 10.3 million in 2024, compared to a loss of HKD 6.1 million in 2023, mainly due to costs from the expansion of content media and experiential services[61] Revenue Breakdown - Revenue from marketing production services was HKD 36,723,000, down 3.5% from HKD 38,056,000 in the previous year[18] - Revenue from content media and experiential business surged to HKD 54,771,000, up 248.5% from HKD 15,674,000 in 2023[18] - Revenue generated from Hong Kong customers was HKD 88,382,000, a substantial rise of 83.3% compared to HKD 48,239,000 in 2023[22] - Revenue from customers in China decreased to HKD 2,820,000 from HKD 5,326,000, reflecting a decline of 47.1%[22] - The content media and experiential business recorded a revenue growth of 249.4%, significantly contributing to the overall financial performance[43] - Revenue from marketing production decreased by approximately 3.5% to about HKD 36.7 million in 2024, compared to HKD 38.1 million in 2023[46] - Revenue from content media and experiential services increased by approximately 249.4% to about HKD 54.8 million in 2024, compared to HKD 15.7 million in 2023, driven by the ComplexCon Hong Kong event[46] Assets and Liabilities - Total assets decreased to HKD 67,370,000 from HKD 80,744,000, while total liabilities also decreased to HKD 24,103,000 from HKD 27,154,000[6] - The company's cash and bank balances fell to HKD 12,093,000 from HKD 20,514,000, indicating a liquidity challenge[6] - The company's equity attributable to owners decreased to HKD 46,188,000 from HKD 56,021,000, showing a decline in shareholder value[7] - Trade receivables decreased to 5,543 thousand HKD in 2024 from 13,026 thousand HKD in 2023, with net trade receivables at 5,390 thousand HKD[36] - The group’s total trade and other receivables, deposits, and prepayments amounted to 7,668 thousand HKD in 2024, down from 15,556 thousand HKD in 2023[36] - The group’s current asset net value was approximately HKD 4.0 million as of December 31, 2024, down from HKD 16.0 million in 2023[63] - The asset-to-liability ratio increased to 6.6% as of December 31, 2024, compared to 1.4% in 2023[63] Costs and Expenses - The company has recognized a significant increase in outsourcing project costs, which rose to HKD 93,958,000 from HKD 20,399,000, impacting overall profitability[4] - Other income, profit, and loss net increased by approximately 6,652.8% to about HKD 29.9 million in 2024, compared to HKD 0.4 million in 2023, mainly due to increased government subsidies[47] - Outsourcing project costs surged by approximately 360.6% to about HKD 94.0 million in 2024, compared to HKD 20.4 million in 2023, primarily due to costs associated with the ComplexCon Hong Kong event[49] - Employee benefits expenses decreased by approximately 5.3% to about HKD 15.3 million in 2024, compared to HKD 16.2 million in 2023, due to a reduction in employee headcount[54] - Other operating expenses increased by approximately 14.1% to about HKD 9.9 million in 2024, compared to HKD 8.7 million in 2023, primarily due to costs related to the ComplexCon Hong Kong event[58] Government Subsidies - The group received government subsidies related to cultural events totaling 30,000 thousand HKD, which were confirmed as other income during the year[25] - Other income for the group in 2024 totaled 29,915 thousand HKD, a significant increase from 443 thousand HKD in 2023, primarily due to government subsidies of 30,000 thousand HKD[24] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2024, ensuring compliance with applicable accounting standards[76] - The board emphasizes high standards of corporate governance, maintaining a balance of power with experienced directors, including three independent non-executive directors[74] - The group has not engaged in any major investments, acquisitions, or disposals of subsidiaries during the year[70] - The group has not entered into any derivative agreements or used financial instruments to hedge foreign exchange risks during the year[65] Dividends and Shareholder Returns - The group did not declare any dividends for the current year, consistent with the previous year[32] - The board does not recommend the distribution of any final dividend for the year ending December 31, 2024, similar to the previous year[72] Employment and Workforce - The total number of full-time employees decreased to 32 as of December 31, 2024, down from 38 in the previous year[69]
华美乐乐(08429) - 2024 - 年度业绩