Financial Performance - For the fiscal year ending December 31, 2024, total revenue was HKD 573,390,000, a decrease of 39.5% compared to HKD 948,683,000 in 2023[3] - Gross profit for the same period was HKD 35,854,000, down 38.2% from HKD 58,021,000 in the previous year[3] - The company reported a net profit attributable to owners of HKD 3,385,000, a significant decline of 76.0% from HKD 14,060,000 in 2023[3] - Basic earnings per share decreased to HKD 0.04 from HKD 0.38, representing a drop of 89.5%[3] - The total revenue for the year 2024 is HKD 573.39 million, a decrease of 39.6% from HKD 948.68 million in 2023[15] - Revenue from cleaning services is HKD 440.40 million, down 46.1% from HKD 816.33 million in the previous year[14] - Revenue from pest management services is HKD 13.38 million, a decline of 44.7% compared to HKD 24.11 million in 2023[14] - Revenue from waste management and recycling services is HKD 95.64 million, a decrease of 6.9% from HKD 101.38 million in 2023[15] - The company generated HKD 562.37 million from customer contracts, which is a 40.3% decrease from HKD 942.56 million in the previous year[14] - Government clients contributed HKD 457.80 million, down 44.8% from HKD 830.20 million in 2023[14] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 241,548,000, an increase from HKD 160,861,000 in 2023[4] - Non-current assets rose to HKD 88,770,000 from HKD 46,320,000, reflecting a growth of 91.5%[4] - Current liabilities increased to HKD 179,699,000 from HKD 43,629,000, indicating a rise of 311.5%[4] - As of December 31, 2024, total trade receivables were HKD 46,330,000, a decrease of 63.4% from HKD 126,503,000 in 2023[40] - The aging analysis of trade receivables showed that HKD 18,909,000 was within 30 days, down from HKD 77,670,000 in 2023, indicating a decline in timely payments[41] - The company had overdue trade receivables of HKD 962,000 as of December 31, 2024, compared to HKD 3,002,000 in 2023, showing an improvement in collection[42] - The book value of trade receivables pledged as collateral for bank loans was HKD 32,670,000 in 2024, down from HKD 126,067,000 in 2023[43] - The total liabilities as of December 31, 2024, were HKD 60,805,000, with cleaning services accounting for HKD 20,226,000 of this total[24] Operational Changes and Strategies - The company plans to expand its environmental hygiene services, including cleaning, pest management, waste management, and landscaping services[5] - The company is focused on enhancing its operational efficiency and exploring potential acquisitions to strengthen its market position[5] - The company’s business operations have expanded to include services in mainland China, in addition to its traditional Hong Kong market[13] - The group expanded its main business into the online gaming industry, establishing its first online gaming licensing agreement in April 2024[50] - The group will continue to explore new business opportunities to diversify and enhance returns[49] Employee and Administrative Costs - The company’s total employee costs decreased significantly from HKD 757,789,000 in 2023 to HKD 428,054,000 in 2024, a reduction of approximately 43%[33] - The company’s administrative expenses for the fiscal year ending December 31, 2024, were HKD 35,761,000[22] - Administrative expenses decreased by approximately 4.2% to HKD 35.8 million, representing about 6.2% of total revenue[60] - As of December 31, 2024, the group had 645 full-time and part-time employees, a significant decrease from 3,279 employees in 2023[53] Financial Reporting and Compliance - The company has not applied any new Hong Kong Financial Reporting Standards that are expected to have a significant impact on its financial performance[9] - The company is evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18, but does not anticipate any significant effects on its financial position[11] - The company confirms that the information in the announcement is accurate and complete in all material aspects[92] - The announcement will be available on the GEM website and the company's website for at least seven days from the publication date[92] Dividends and Shareholder Information - The company did not declare any dividends for the year ending December 31, 2024, consistent with 2023[35] - No final dividend is recommended for the year ending December 31, 2024, compared to none in 2023[86] - The next annual general meeting will be held on June 6, 2025[87] - Share transfer registration will be suspended from June 3, 2025, to June 6, 2025[88] Corporate Governance - The company has complied with all applicable corporate governance codes as per GEM listing rules as of December 31, 2024[76] - Three directors, including Mr. Wang Rong, Ms. Liu Jingjing, and Mr. Liang Jiawei, will retire at the next annual general meeting but are eligible and willing to be re-elected[77] - The audit committee consists of three independent non-executive directors, with Mr. Zhou Runzhang serving as the chairman[89] Other Financial Metrics - The company reported other income of HKD 11,915,000 for the fiscal year ending December 31, 2024[22] - The company incurred a loss of HKD 2,431,000 from the sale of a subsidiary during the fiscal year ending December 31, 2024[22] - The company reported a total revenue of HKD 11,915,000 for other income in 2024, compared to HKD 3,805,000 in 2023, representing an increase of approximately 213%[29] - The company incurred a loss of HKD 134,000 from the sale of machinery and equipment in 2024, compared to a loss of HKD 28,000 in 2023, indicating a significant increase in losses[30] - The company’s financing costs decreased to HKD 3,848,000 in 2024 from HKD 5,864,000 in 2023, reflecting a reduction of approximately 34%[33]
立高控股(08472) - 2024 - 年度业绩