Financial Performance - The company's revenue for the fiscal year 2024 reached approximately HKD 120,028,000, representing a year-on-year increase of 9.1%[8] - The gross profit for 2024 was HKD 19,720,000, down from HKD 26,176,000 in 2023, indicating a decrease of 24.5%[7] - The company reported a net loss of HKD 17,510,000 for 2024, compared to a profit of HKD 2,202,000 in 2023[7] - Non-current assets decreased to HKD 18,919,000 in 2024 from HKD 20,540,000 in 2023, a decline of 7.9%[7] - Current assets slightly decreased to HKD 159,680,000 in 2024 from HKD 161,275,000 in 2023, a reduction of 1.0%[7] - The company's total liabilities increased to HKD 53,327,000 in 2024 from HKD 35,213,000 in 2023, an increase of 51.5%[7] - Cash and cash equivalents at the end of 2024 were HKD 78,823,000, a decrease from HKD 80,497,000 in 2023[7] - The net cash used in operating activities for the fiscal year 2024 was approximately HKD 5,774,000, an increase from HKD 2,758,000 in 2023, primarily due to a significant increase in deposits, prepayments, and other receivables[31] - The net cash used in investing activities for fiscal year 2024 was approximately HKD 285,000, a slight decrease from HKD 304,000 in 2023, mainly due to the absence of cash inflow from the acquisition of subsidiaries[31] - The net cash generated from financing activities for fiscal year 2024 was HKD 6,970,000, compared to HKD 1,213,000 used in 2023, attributed to increased bank borrowings and reduced repayments[31] Business Segments - In 2024, the company's revenue increased by 9.1% to approximately HKD 120,028,000 from HKD 109,968,000 in 2023, primarily driven by growth in cloud computing and internet traffic services[18] - The functional knitted fabric, clothing, and yarn sales segment generated revenue of approximately HKD 110,238,000, a slight increase of 0.4% from HKD 109,815,000 in the previous fiscal year[14] - The cloud computing and internet traffic services segment saw a significant revenue increase of 6,298.7%, reaching approximately HKD 9,790,000 compared to HKD 153,000 in 2023[15] Strategic Focus - The company is focusing on integrating artificial intelligence into its services to enhance online influence and marketing effectiveness[8] - The digital economy's rapid development is seen as an opportunity for the company's cloud computing and internet traffic service segments[8] - The company plans to actively explore new development directions while consolidating existing business operations[8] - The company plans to expand its presence in artificial intelligence and cloud computing technologies to drive future growth[16] - The company is focusing on innovation and technology to enhance its service offerings and drive long-term sustainable success[52] Corporate Governance - The company maintains high standards of corporate governance and has complied with all applicable provisions of the corporate governance code as of the report date[75] - The board consists of 3 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring a balance of skills and experience[82] - The company has established a training requirement for directors to ensure compliance with the Main Board Listing Rules, which includes a 24-hour training course[68] - The company has a structured approach to internal controls to ensure compliance with the Main Board Listing Rules[73] - The company has implemented anti-corruption and whistleblowing policies to enhance internal fairness[78] - The board has delegated daily management to executive directors while retaining overall responsibility for major decisions[81] Risk Management - The board confirmed that the risk management and internal control systems are effective and adequate as of December 31, 2024[123] - The risk assessment process includes identifying risks through discussions with management and evaluating the consequences and likelihood of those risks[128][129] - The company has adopted internal control policies regarding insider information disclosure and has not identified any violations of securities trading rules[120] - The board is responsible for ensuring the establishment and maintenance of adequate risk management and internal control systems[122] Employee and Compensation - The total employee cost for the fiscal year 2024 was HKD 15,611,000, compared to HKD 14,068,000 for the fiscal year 2023, indicating a year-over-year increase of approximately 11%[55] - The group had 73 employees as of December 31, 2024, an increase from 66 in 2023[177] - The group's compensation policy aims to ensure fair treatment of all employees, with performance reviews conducted at least annually[177] Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of the group's business and performance[137] - The company will hold its 2025 Annual General Meeting on June 20, 2025, with a notice to be sent to shareholders in due course[138] - The company has established a website as a communication platform for shareholders and investors, providing access to financial information, corporate governance practices, and other relevant data[137] - The board confirmed the effectiveness of the communication policy with shareholders and will continue to review it annually[145] Shareholder Interests - The group recognizes the importance of protecting shareholder interests and maintaining effective communication with them through regular reports and meetings[169] - The company has maintained a public float of at least 25% of its issued shares as required by GEM listing rules[195] - The company has not entered into any stock-linked agreements during the fiscal year ending December 31, 2024[193] Future Outlook - The board remains cautiously optimistic about the economic recovery in China, projecting a GDP growth of 5.0% in 2024[1] - The group plans to strengthen its position in R&D for new functional fabrics and expand into different markets while increasing promotion and sales efforts to attract new customers[151]
智云国际控股(08521) - 2024 - 年度财报