Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 50,875,000, a decrease of 88% compared to HKD 420,436,000 in 2023[3] - Operating loss from continuing operations increased to HKD 26,712,000, representing a 378% increase from HKD 5,591,000 in the previous year[3] - Loss attributable to equity shareholders of the company was HKD 33,712,000, up 152% from HKD 13,389,000 in 2023[5] - Basic loss per share from continuing and discontinued operations was HKD (0.014), a 133% increase from HKD (0.006) in 2023[5] - Total comprehensive loss for the year was HKD 53,558,000, compared to HKD 31,690,000 in 2023, reflecting a significant increase[6] - The company reported a pre-tax loss of HKD 31,214,000 for 2024, compared to a loss of HKD 9,340,000 in 2023, indicating a significant increase in losses[27] - The company recorded a net loss of HKD 33,712,000 for the year 2024, compared to a loss of HKD 13,389,000 in 2023[32] Revenue Breakdown - Semiconductor sales accounted for 86% of the total revenue in 2023, with HKD 366,970,000, while the revenue from photovoltaic power generation was HKD 49,515,000, contributing 97% of the total revenue in 2024[15] - The revenue from property development and related services was HKD 125,000 in 2024, consistent with 1% of total revenue, compared to HKD 430,000 in 2023[15] - The company reported a total of HKD 1,155,000 in revenue from Hong Kong in 2024, down from HKD 357,588,000 in 2023, indicating a significant market contraction[16] - The revenue from mainland China was HKD 49,720,000 in 2024, a decrease from HKD 62,848,000 in 2023, reflecting a decline of approximately 21%[16] - The photovoltaic power generation segment generated revenue of approximately HKD 49.5 million for the year, compared to approximately HKD 53.0 million for the year ended December 31, 2023, making it the main source of income for the company[45] Assets and Liabilities - Non-current assets decreased to HKD 249,392,000 from HKD 282,633,000 in the previous year[7] - Current assets totaled HKD 463,083,000, down from HKD 487,060,000 in 2023[7] - Net assets decreased to HKD 665,018,000 from HKD 718,576,000 in the previous year[8] - Total reported segment assets decreased to HKD 549,058 thousand in 2024 from HKD 671,563 thousand in 2023, a reduction of about 18.2%[20] - The total liabilities of the company decreased to HKD 47,457 thousand in 2024 from HKD 51,117 thousand in 2023, a decrease of approximately 7.9%[20] Expenses - The company reported a significant increase in administrative expenses to HKD 32,005,000 from HKD 26,024,000 in 2023[4] - Employee costs increased to HKD 4,606 thousand in 2024 from HKD 4,293 thousand in 2023, reflecting a rise of about 7.3%[19] - Research and development expenses were HKD 2,105,000 in 2024, down from HKD 2,373,000 in 2023[28] - The administrative expenses increased by approximately HKD 6.0 million or about 23.0% to approximately HKD 32.0 million for the year[48] Accounting Standards and Compliance - The company is currently evaluating the impact of new accounting standards, including HKFRS 18, which will significantly change the presentation of financial statements starting from 2027[13] - The company has not adopted any new accounting standards that may significantly impact the consolidated financial statements for the current or future periods[12] - The company anticipates that the adoption of new accounting standards will not have a significant impact on the financial results for the current or future periods[12] - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the year[68] - The audit committee reviewed the group's financial performance before submission to the board for approval[70] Discontinued Operations - The company has reclassified the performance of the cigarette film processing segment as discontinued operations, as it is no longer regularly reviewed by the executive directors[17] - The company incurred a loss from discontinued operations of HKD 3,731,000 in 2024, up from HKD 2,921,000 in 2023[30] - The net cash outflow from discontinued operations was HKD 1,387,000 in 2024, slightly higher than HKD 1,379,000 in 2023[30] - The company expects to complete the sale of Jiangsu Jingerun Technology Co., Ltd., which operates in the processed cigarette film business, by 2025, classifying this segment as discontinued operations[40] Future Outlook and Strategy - The company continues to focus on its core businesses, including the sale of processed cigarette films and semiconductor operations[9] - The group is actively seeking opportunities to develop new businesses and has established a team of experts to explore these ventures[64] - The company plans to sell its entire issued share capital of Jiangsu Jingerun Technology Co., Ltd. for approximately HKD 23,301,000, expected to complete in 2025[29] Miscellaneous - The company did not declare any dividends for the year ending December 31, 2024, consistent with 2023[31] - The group had no capital commitments as of December 31, 2024[66] - There were no significant investments, acquisitions, or disposals made by the group during the year[60] - The group maintained a prudent financial management policy throughout the year, ensuring a stable liquidity position[65] - As of December 31, 2024, the group had no significant contingent liabilities[61] - The group's total capital expenditure for the year was approximately HKD 0.4 million[58] - As of December 31, 2024, the group employed 41 staff members, down from 57 staff members as of December 31, 2023, with total employee costs for ongoing operations around HKD 14.2 million[62]
顺泰控股(01335) - 2024 - 年度业绩