Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 728,216,000, a significant increase from HKD 206,168,000 in 2023, representing a growth of approximately 253%[3] - The gross profit for the same period was HKD 126,951,000, compared to HKD 69,331,000 in 2023, indicating a growth of about 83%[3] - The operating loss for the year was HKD 214,495,000, which is an increase from the operating loss of HKD 145,160,000 in 2023, reflecting a deterioration of approximately 47%[4] - The total comprehensive loss for the year was HKD 349,338,000, compared to HKD 289,322,000 in 2023, marking an increase of around 21%[5] - The basic and diluted loss per share for the year was HKD 14.48, compared to HKD 11.76 in 2023, indicating a worsening of approximately 23%[4] - The group reported a pre-tax loss of HKD 349.322 million in 2024, compared to a pre-tax loss of HKD 288.154 million in 2023, indicating a worsening of approximately 21.3%[18] - The company reported a pre-tax loss of HKD 134,827 thousand for 2024, a decrease from HKD 142,994 thousand in 2023, indicating improved financial performance[28] Assets and Liabilities - The company's total assets decreased to HKD 4,205,511,000 in 2024 from HKD 5,184,596,000 in 2023, a decline of approximately 19%[6] - The company's total liabilities decreased to HKD 2,151,111,000 in 2024 from HKD 2,524,113,000 in 2023, a reduction of approximately 15%[7] - The total assets of the group decreased to HKD 4.205 billion in 2024 from HKD 5.185 billion in 2023, a decline of approximately 18.9%[20] - The total liabilities of the group also decreased to HKD 2.151 billion in 2024 from HKD 2.524 billion in 2023, representing a reduction of about 14.8%[20] - The company has a total debt of HKD 1,629,316,000, down from HKD 1,803,257,000 in 2023, resulting in a capital-to-debt ratio of 79% compared to 68% in 2023[60] Revenue Segments - The film-related business segment generated revenue of HKD 2.188 million in 2024, down from HKD 4.435 million in 2023, indicating a decline of about 50.7%[18] - The property development and investment segment saw a substantial increase in revenue to HKD 675.240 million in 2024 from HKD 148.230 million in 2023, marking an increase of approximately 355%[18] - The multimedia and entertainment segment reported revenue of HKD 50.788 million in 2024, slightly down from HKD 53.503 million in 2023, reflecting a decrease of about 5.1%[18] - Revenue from property sales surged to HKD 674,308 thousand in 2024, compared to HKD 147,298 thousand in 2023, marking an increase of about 358%[26] - The property development and investment business contributed HKD 675,240,000, accounting for 93% of total revenue, while multimedia and entertainment operations contributed HKD 50,788,000, or 7%[39] Expenses - Administrative expenses increased significantly to HKD 147,094,000, up from HKD 95,408,000 in the previous year, due to an increase in staff and operational locations[37] - The group’s unallocated corporate expenses increased to HKD 96.329 million in 2024 from HKD 58.075 million in 2023, an increase of approximately 65.8%[18] - Marketing, sales, and distribution expenses rose by 28% to HKD 101,043,000 for the year ending December 31, 2024, up from HKD 79,108,000 in 2023[54] - Depreciation expenses increased by 129% to HKD 27,621,000 for the year ending December 31, 2024, compared to HKD 12,071,000 in 2023[53] Business Strategy and Development - The company has a focus on expanding its business in film production and distribution, as well as developing its e-commerce platform and brand products[8] - The company plans to invest in short films and web movies, with a new production currently in the scriptwriting stage expected to begin production in 2025[40] - The company aims to enhance its product uniqueness and superiority in the competitive live e-commerce industry[50] - The company plans to expand its own brand products into physical retail sales, recognizing that brick-and-mortar stores remain a significant sales channel[72] - The company is optimistic about the Macau property market, supported by favorable government policies and infrastructure development[72] Corporate Governance - The company has adhered to all applicable corporate governance codes as per the listing rules for the fiscal year ending December 31, 2024[75] - The audit committee, composed of independent non-executive directors, has reviewed the accounting principles and financial reporting matters for the fiscal year ending December 31, 2024[76] - The company confirmed compliance with the standard code for securities transactions by directors throughout the fiscal year ending December 31, 2024[77] Future Outlook - The company anticipates a conservative approach to property sales in Macau, with positive trends expected in the property market due to economic diversification efforts[71] - The company will continue to leverage opportunities in the multimedia and entertainment sectors, enhancing the development of its properties[73] Shareholder Information - The annual report for 2024 will be distributed to shareholders by April 30, 2025, and will be available on the stock exchange and company websites[79]
中国星集团(00326) - 2024 - 年度业绩