Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 213,297,000, an increase of 48.6% compared to HKD 143,566,000 for the year ended December 31, 2023[4] - Other income for the year was HKD 1,613,000, up from HKD 1,324,000, reflecting a growth of 21.8%[4] - The net loss for the year was HKD 2,547,000, a decrease in loss of 38.8% compared to HKD 4,157,000 in the previous year[4] - Total revenue for the year 2024 was HKD 213,297,000, an increase of 48.5% compared to HKD 143,566,000 in 2023[20] - The group reported a pre-tax loss of HKD 352,000 in 2024, compared to a profit of HKD 286,000 in 2023[28] - The group reported a net loss of approximately HKD 2,547,000 for the year ending December 31, 2024, an improvement from a net loss of approximately HKD 4,157,000 for the year ending December 31, 2023[43] Revenue Breakdown - Revenue from recruitment services in Hong Kong decreased to HKD 51,584,000 in 2024 from HKD 67,873,000 in 2023, a decline of 24%[20] - Revenue from dispatch and payroll services in Hong Kong increased significantly to HKD 133,623,000 in 2024 from HKD 56,005,000 in 2023, representing an increase of 138%[20] - Revenue from mainland China recruitment services increased by approximately HKD 3,583,000 or 21.6% to about HKD 20,134,000 for the year ending December 31, 2024, up from approximately HKD 16,551,000 for the year ending December 31, 2023[50] - Revenue from the Singapore recruitment business grew significantly, increasing from approximately HKD 365,000 to approximately HKD 4,957,000, a rise of about HKD 4,592,000[54] - Total revenue from Hong Kong for the year ending December 31, 2024, is approximately HKD 185,207,000, an increase of about HKD 61,329,000 or 49.5% from the previous year[65] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 83,702,000, compared to HKD 80,486,000 in 2023, indicating a growth of 2.8%[5] - Current assets decreased slightly to HKD 68,554,000 from HKD 68,639,000, a decline of 0.1%[5] - The company's total equity decreased to HKD 58,163,000 from HKD 61,229,000, representing a decline of 5.0%[6] - Non-current assets increased significantly to HKD 15,148,000 from HKD 11,847,000, a growth of 27.5%[5] - The capital debt ratio increased to 17.6% in 2024 from 7.2% in 2023, with lease liabilities amounting to approximately HKD 10,232,000[76] Employee Costs - The company's employee costs rose to HKD 187,687,000 from HKD 119,613,000, an increase of 56.8%[4] - Employee costs for the year ending December 31, 2024, are approximately HKD 187,687,000, accounting for 88.0% of revenue, up from 83.3% in the previous year[68] - Employee costs increased by approximately HKD 68,074,000 or 56.9%, with dispatch employee costs rising by approximately HKD 71,107,000 or 138.8%[69] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules for the year ending December 31, 2024[91] - The financial statements for the year ending December 31, 2024, have been reviewed by the auditor, but no assurance has been provided for the preliminary results announcement[92] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024[93] Future Outlook and Strategy - The company aims to focus resources on industries with strong recovery potential and invest in dedicated teams in Hong Kong, mainland China, and Singapore while closely monitoring performance and investment returns[57] - The company remains optimistic about the long-term growth prospects in the human resources industry across Hong Kong, mainland China, and Southeast Asia despite facing various challenges in 2024[55] - The group continues to invest in experienced recruitment personnel and industry experts to adapt to changing customer needs[42] - The company has strategically focused on expanding its service offerings beyond traditional recruitment services to provide comprehensive solutions, which has diversified its revenue sources[40] Dividends and Share Capital - The company did not declare any dividends for the year ended December 31, 2024, consistent with the previous year[32] - As of December 31, 2024, the company has issued a total of 800,000,000 ordinary shares at HKD 0.01 each, with no changes in share capital[78] Market Conditions - The company faced challenges in the Hong Kong market due to economic conditions, including decreased consumer spending and a weak property market, leading to reduced hiring activities across various industries[39] - The Hong Kong market's GDP growth decreased from 3.2% in 2023 to 2.5% in 2024, reflecting weak global demand and local consumption[44]
高奥士国际(08042) - 2024 - 年度业绩