Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 72,845,000, a decrease of 2.6% compared to HKD 74,794,000 in 2023[4] - Total comprehensive loss for the year was HKD 1,597,297,000, compared to a loss of HKD 26,752,000 in 2023, indicating a significant decline[5] - The company's share of losses from joint ventures amounted to HKD 1,209,144,000, a substantial increase from a profit of HKD 169,361,000 in the previous year[4] - Basic and diluted loss per share for the year was HKD (60.0), compared to earnings of HKD 7.9 per share in 2023[4] - The company reported a net loss of HKD 1,200,555,000 for the year, compared to a profit of HKD 156,158,000 in 2023, indicating a drastic shift in financial performance[4] - The company reported a consolidated loss attributable to shareholders of HKD 1,200,000,000 for the year ended December 31, 2024, compared to a profit of HKD 157,000,000 for 2023, primarily due to losses from joint ventures[30] Assets and Liabilities - Non-current assets decreased to HKD 9,361,021,000 from HKD 10,919,823,000, reflecting a decline of approximately 14.2%[6] - Cash and cash equivalents decreased to HKD 97,330,000 from HKD 145,457,000, a reduction of about 33.1%[6] - Total liabilities increased to HKD 512,417,000 from HKD 477,019,000, representing an increase of approximately 7.4%[6] - The company's equity attributable to shareholders decreased to HKD 8,966,969,000 from HKD 10,612,822,000, a decline of about 15.5%[6] - Total assets amounted to HKD 9,545,440,000, with segment assets for property investment at HKD 166,237,000[13] - The group’s total liabilities were HKD 563,296,000, with segment liabilities for property investment at HKD 506,172,000[13] - As of December 31, 2024, total assets were HKD 9,500,000,000, down from HKD 11,200,000,000 in 2023, while total liabilities increased to HKD 600,000,000 from HKD 500,000,000[37] Revenue Segments - Total revenue for the year reached HKD 72,845,000, with property investment contributing HKD 70,399,000[13] - The property development segment incurred a loss of HKD 3,638,000, while the financial investment segment generated a profit of HKD 2,024,000[13] - Revenue from external customers in Singapore was HKD 53,620,000, a slight decrease of 1.7% from HKD 54,529,000 in 2023[15] - The company’s property investment segment reported a stable revenue of HKD 70,000,000 for both 2024 and 2023[31] Expenses and Costs - Administrative expenses were significantly reduced to HKD 17,427,000 from HKD 34,429,000, a decrease of approximately 49.3%[4] - The company's other operating expenses decreased to HKD 14,000,000 in 2024 from HKD 19,000,000 in 2023, while financing costs increased to HKD 32,000,000 from HKD 27,000,000 due to higher interest rates[30] - Employee costs for the year amounted to HKD 11 million, a decrease from HKD 23 million in the previous year, with a total of 23 full-time employees as of December 31, 2024, down from 27[40] Investments and Fair Value - The group recognized a fair value loss of HKD 3,262,000 on investment properties[13] - The company recorded a loss of HKD 1,205,000,000 from its investment in LAAPL, compared to a profit of HKD 174,000,000 in 2023, mainly due to adverse impacts from the property market slowdown in mainland China[35] - The company experienced a fair value loss on investment properties of HKD 7,639,000, which improved to HKD 3,262,000 in 2024, indicating a recovery[20] Dividends and Governance - The company did not declare a final dividend for 2024, compared to a dividend of HKD 0.01 per share in 2023[27] - The company has decided not to recommend any final dividend for the year ended December 31, 2024, compared to a dividend of HKD 0.01 per share (approximately HKD 20 million) in 2023[42] - The company remains committed to high-quality corporate governance practices to enhance investor confidence[44] Economic Outlook - The global growth rate is projected at 3.3% for 2025, lower than the historical average of 3.7%, with significant downward risks due to trade protectionism and geopolitical tensions[41] Audit and Compliance - The audit committee has reviewed and agreed on the consolidated financial statements for the year ended December 31, 2024[45] - The company has not purchased, sold, or redeemed any of its listed securities during the year ended December 31, 2024[43] - There were no significant contingent liabilities or capital commitments as of December 31, 2024, consistent with the previous year[39] Operational Environment - The number of international visitors to Singapore increased by 21% to 16,500,000 in 2024, contributing positively to the company’s operational environment[29] - The company will continue to manage its business cautiously and monitor its assets and investments in a challenging operating environment[41]
香港华人有限公司(00655) - 2024 - 年度业绩