Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 970,061,000, a decrease of 20.0% from HKD 1,213,830,000 in 2023[3] - Gross profit for the same period was HKD 116,587,000, representing a 25.4% increase from HKD 93,017,000 in 2023[3] - The net loss for the year was HKD 53,139,000, compared to a net loss of HKD 85,709,000 in 2023, indicating an improvement of 38.0%[4] - Basic and diluted loss per share was HKD 4.87, improved from HKD 6.74 in the previous year[3] - The group reported a loss before tax of HKD 52,325,000 in 2024, an improvement from a loss of HKD 84,601,000 in 2023[21] - The company recorded a loss attributable to owners of approximately HKD 63,632,000, a reduction of about 27.72% from a loss of HKD 88,035,000 in 2023[64] Assets and Liabilities - Non-current assets decreased to HKD 230,591,000 from HKD 306,149,000, a decline of 24.6%[5] - Current liabilities totaled HKD 520,443,000, slightly down from HKD 526,633,000 in 2023[5] - The company's equity attributable to owners decreased to HKD 31,348,000 from HKD 74,432,000, a drop of 57.9%[6] - The total assets less current liabilities stood at HKD 95,578,000, down from HKD 172,553,000 in the previous year[5] - As of December 31, 2024, the group's current assets totaled approximately HKD 385,430,000, while current liabilities amounted to approximately HKD 520,443,000, indicating a tight cash position[69] Revenue Breakdown - Sales of silicone and related products reached HKD 244,030,000 in 2024, up 7.9% from HKD 226,082,000 in 2023[16] - Retail services generated HKD 98,870,000 in 2024, an increase of 30.6% compared to HKD 75,674,000 in 2023[16] - Online marketing solutions service revenue was HKD 627,161,000 in 2024, down 31.3% from HKD 912,058,000 in 2023[16] - The silicone rubber business recorded revenue of approximately HKD 244,030,000, accounting for about 25.16% of total revenue, up from 18.63% in 2023[57] - The digital marketing business generated revenue of approximately HKD 627,161,000, representing about 64.65% of total revenue, down from 75.1% in 2023[58] - The retail segment showed significant improvement with revenue of approximately HKD 98,870,000, accounting for about 10.19% of total revenue, up from 6.2% in 2023[59] Cost Management - The group incurred total costs of HKD 609,558,000 for obtaining and controlling flow, which is included in the cost of sales for 2024[25] - Selling and distribution expenses were approximately HKD 24,384,000, down about 31.96% from HKD 35,839,000 in 2023[63] - Administrative expenses were approximately HKD 120,611,000, a decrease of about 19.21% from HKD 149,287,000 in 2023[63] Cash Flow and Financing - The group has approximately HKD 130,000,000 in unutilized credit facilities to meet operational cash flow needs over the next 18 months[10] - The group obtained loans totaling approximately HKD 11,600,000 after the reporting period, with interest rates ranging from 5.50% to 6.10%[10] - The group is exploring various fundraising opportunities, including issuing new shares and convertible bonds, to enhance financial stability[10] - The group has taken measures to manage its working capital needs and improve its financial position, ensuring sufficient operational funds for foreseeable financial obligations[8] - The group has adopted a conservative cash management and investment strategy, with unutilized funds placed in recognized financial institutions in Hong Kong and China for short-term deposits[79] Strategic Initiatives - The company plans to expand its silicone product range and enhance brand influence in the coming year[36] - The company plans to launch its UK entertainment live streaming business in the second half of 2025, aiming to capture growth potential in the market[53] - The group is committed to enhancing its operational cash flow by increasing the collection efforts on trade receivables[10] - The digital marketing segment continues to provide effective services to brands and clients, contributing to the company's growth[36] - The company invested in a digital marketing service provider, Jusheng Technology, which offers advertising agency services and media operation consulting, serving clients across various industries[40] Market Conditions and Risks - The group is exposed to competitive pressures in the silicone rubber industry, including competition from new materials and pricing strategies from competitors[68] - The retail business faces challenges due to high dependence on imported products and potential fluctuations in logistics costs and international tariffs[67] - The digital marketing business is heavily reliant on internet marketing and is affected by regulatory policies, impacting customer relationship stability[67] Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the year ending December 31, 2024, with some exceptions regarding attendance at the annual general meeting[83] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and believes they are prepared in accordance with applicable accounting standards[87] Other Information - The group did not declare or recommend any dividends for the years ending 2024 and 2023[26] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[81] - There were no significant events affecting the group from December 31, 2024, to the announcement date[82] - The annual report for the year ending December 31, 2024, will be sent to shareholders and published on the stock exchange and company website[91] - The board expresses gratitude to management, employees, shareholders, business partners, and other stakeholders for their support[92]
大洋集团(01991) - 2024 - 年度业绩