Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of approximately HKD 53,982,860, a decrease of about 6% compared to HKD 57,960,680 in 2023[13]. - The net loss for the fiscal year was approximately HKD 21,865,887, compared to a net loss of HKD 49,612,842 in the previous year, indicating an improvement in financial performance[13]. - Revenue from the advertising and media business was approximately HKD 46,100,000, down about 6% from HKD 49,200,000 in 2023[14]. - Revenue from financial services was approximately HKD 7,900,000, reflecting a decrease of about 10% from HKD 8,700,000 in 2023[14]. - The company's revenue for the year ended December 31, 2024, was approximately HKD 54 million, a decrease of about 7% compared to HKD 58 million in 2023[33]. - Gross profit for the year was approximately HKD 34.4 million, a decrease of about 5% from HKD 36.3 million in 2023, with a gross margin increase from 63% to 64% due to a 10% reduction in service costs[33]. - The company recorded a net loss attributable to equity holders of approximately HKD 20.9 million for the year, compared to a loss of HKD 48.6 million in the previous year[37]. Assets and Liabilities - Total assets as of December 31, 2024, were valued at HKD 177,589,424, a decrease from HKD 207,770,012 in 2023[13]. - Total liabilities decreased to HKD 49,308,731 from HKD 57,511,384 in 2023, indicating improved financial stability[13]. - The company's net asset value was HKD 128,280,693, down from HKD 150,258,628 in 2023[13]. - The net current assets of the group as of December 31, 2024, are approximately HKD 125,000,000, down from HKD 141,000,000 in 2023, with cash and cash equivalents at approximately HKD 52,000,000 compared to HKD 81,000,000 in 2023[40]. - The debt ratio as of December 31, 2024, is approximately 11.4%, significantly up from 2.3% in 2023[41]. Business Strategy and Operations - The company continues to focus on its core businesses in financial services and advertising, which are expected to drive future revenue[14]. - The management will continue to monitor external market conditions and adjust business strategies as necessary[15]. - The overall economic environment remains challenging due to geopolitical tensions and trade conflicts, impacting investor confidence in the Hong Kong financial market[15]. - The company aims to expand its service offerings and client base while maintaining communication with existing clients[22]. - The company is exploring opportunities in AI technology as part of its strategy for business diversification and sustainable development[15]. Corporate Governance - The company has adopted the GEM Listing Rules and confirmed that all directors complied with the trading standards for the year ending December 31, 2024[61]. - The board held a total of 7 meetings during the year, including 4 regular board meetings[66]. - All executive directors attended 100% of the board meetings, with attendance rates for independent non-executive directors also at 100%[67]. - The company aims to achieve long-term value through a flexible business model while maintaining prudent approaches for sustainable growth[64]. - The chairman and CEO roles are separated, with the chairman focusing on business development strategy and the CEO managing daily operations[70]. - The company has arranged appropriate liability insurance for its directors, which is reviewed annually[68]. - The board is committed to improving corporate governance principles and practices continuously[64]. - The company has complied with the applicable code provisions of the corporate governance code as of December 31, 2024[64]. Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes the importance of integrating environmental, social, and governance (ESG) principles into its risk management system for sustainable business practices[128]. - The environmental, social, and governance report outlines the group's initiatives and performance in sustainability[127]. - The company has implemented measures to reduce energy consumption, including turning off lights and air conditioning after hours, maintaining office temperatures at 25 degrees Celsius in summer, and using LED or energy-saving lights[147]. - The company has established effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters, ensuring compliance with ESG reporting guidelines[136]. - The company reported no significant non-compliance with environmental laws and regulations during the reporting period, indicating a strong performance in pollution control[140]. Employee and Workforce Management - The total employee cost for the fiscal year is approximately HKD 32,000,000, an increase from HKD 30,000,000 in 2023, with 53 employees as of December 31, 2024[46]. - The employee turnover rate for males in 2024 was 8.0%, down from 20.8% in 2023, while for females it was 7.1%, down from 15.4% in 2023[165]. - The workforce composition in 2024 was 43.4% male and 56.6% female, compared to 48.0% male and 52.0% female in 2023[165]. - The company has implemented policies to ensure compliance with employment laws and regulations, with no significant non-compliance issues reported for the years ending December 31, 2024, and 2023[163]. - The group has complied with all relevant health and safety laws, with no recorded workplace injuries or lost workdays for the fiscal years ending December 31, 2023, and 2024[167]. Risk Management and Compliance - The company emphasizes a risk management and internal control system to identify and manage significant risks to achieve business objectives[111]. - The group has not established an internal audit function, but believes its current organizational structure provides sufficient risk management and internal control[112]. - An independent external consulting firm has reviewed the effectiveness of the group's risk management and internal control systems, noting no significant deficiencies[112]. - The group has established a robust anti-corruption and anti-bribery management system, including a public tender process for significant projects[181]. - The group actively prevents money laundering by screening new customer accounts against third-party anti-money laundering databases, rejecting applications from terrorists or sanctioned entities[183].
基石金融(08112) - 2024 - 年度业绩