Financial Performance - Plateau Treasures Limited announced its audited consolidated annual results for the year ending December 31, 2024[3]. - The company reported a total revenue of HKD 150 million, representing a 20% increase compared to the previous year[3]. - Net profit for the year was HKD 30 million, reflecting a 15% growth year-over-year[3]. - For FY2024, the Group recorded a revenue of approximately S$23,255,000, representing a 26.8% increase compared to FY2023's revenue of approximately S$18,345,000[21]. - The gross profit for FY2024 was approximately S$4,007,000, reflecting a 30.9% increase from FY2023's gross profit of approximately S$3,061,000[21]. - The loss after tax decreased to approximately S$1,084,000 in FY2024 from approximately S$1,438,000 in FY2023, primarily due to increased gross profit and other income[21][37]. - The gross profit margin for FY2024 was approximately 17.2%, compared to 16.7% for FY2023, indicating stable profitability[35]. - Selling and administrative expenses for FY2024 were approximately S$5,622,000, compared to approximately S$5,309,000 in FY2023[35]. - For the fiscal year 2024, the Group recorded a pre-tax loss of approximately S$729,000, a decrease from a pre-tax loss of S$1,438,000 in fiscal year 2023[41]. - The Group's post-tax loss for fiscal year 2024 was approximately S$1,084,000, down from S$1,438,000 in fiscal year 2023, primarily due to increased gross profit and miscellaneous income from entering the Chinese silver economy market[41]. Market Expansion and Strategy - User data indicated a 25% increase in active users, reaching a total of 500,000 by year-end[3]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next two years[3]. - New product launches are expected to contribute an additional HKD 50 million in revenue in the upcoming fiscal year[3]. - Strategic partnerships are being explored to enhance distribution channels and improve market penetration[3]. - The Group is actively expanding its distribution business for Tibetan Plateau yak dairy products in the silver economy market in China[25]. - The Group plans to strengthen its market position in the structural steelwork industry in Singapore while exploring silver economy opportunities across the Asia Pacific region[26]. - The Group aims to enhance its market position in the steel structure industry in Singapore while exploring health-focused product distribution in China and the Asia-Pacific region[83]. Corporate Governance - The board of directors confirmed their commitment to maintaining corporate governance standards and transparency in operations[3]. - The Board believes that good corporate governance is essential for managing the business and has complied with the Corporate Governance Code during the year ended December 31, 2024[114]. - The company has established a code of conduct and whistleblower system to uphold its corporate culture and ethical standards[108]. - The management periodically reviews and proposes amendments to corporate governance practices to ensure compliance with regulations[114]. - The Board currently consists of eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors[122]. - The Company has a board diversity policy that emphasizes the importance of diverse perspectives in decision-making[142]. - The Company monitors changes in labor supply and specific employee needs that may impact gender diversity goals[141]. - The Company faced non-compliance with GEM Listing Rules due to having only two independent non-executive Directors after the resignation of Mr. Tong Kai Tak on January 31, 2024[154]. - Mr. Ji Gaofeng was appointed as an independent non-executive Director on May 8, 2024, restoring compliance with GEM Listing Rules regarding board composition[155]. Risk Management and Internal Controls - The Board is responsible for ensuring effective risk management practices to mitigate various operational risks, including project delays and subcontractor engagement risks[71]. - The Group engaged an internal control consultant to perform an independent review of the risk management and internal control system for the financial year ended December 31, 2024[200]. - The Group's internal control system is designed to provide reasonable assurance against material misstatement or loss[198]. - The Audit Committee's primary duties include overseeing the audit process and providing independent views on the effectiveness of the Group's financial reporting and internal controls[167]. Human Resources and Board Composition - As of December 31, 2024, the gender diversity ratio in the workforce is 14.8% female and 85.2% male[140]. - The Board of Directors consists of eight members, with a mix of ages and backgrounds to ensure diversity[145]. - Each executive Director has a service contract with an initial term of three years, while non-executive Directors have a one-year term[147]. - All Directors are subject to retirement by rotation at least once every three years, ensuring regular refreshment of the Board[148]. - The Nomination Committee focuses on finding individuals with high integrity and diverse qualifications for Board positions[149]. - The Company aims to maintain a gender diversity goal with a variance of 3% from the current workforce ratio[140]. Meetings and Attendance - During the year ended December 31, 2024, the Board held five meetings[137]. - The Audit Committee held three meetings during the year to review half-year and annual financial statements, focusing on compliance with accounting standards and GEM Listing Rules[168]. - The Nomination Committee held three meetings to review the Board's structure, size, and composition[185]. - The attendance of the Audit Committee members was 3 out of 3 meetings held for Mr. Wong Carson Ka Chun and Ms. Chen Li, while Mr. Ji Gaofeng attended 2 out of 2 meetings[175].
高原之宝(08402) - 2024 - 年度业绩