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恒伟集团控股(08219) - 2024 - 年度业绩
HANVEY GROUPHANVEY GROUP(HK:08219)2025-03-31 11:51

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 138,695,000, a decrease of 25.3% compared to HKD 185,667,000 in 2023[5] - The cost of sales for the same period was HKD 97,549,000, resulting in a gross profit of HKD 41,146,000, which is a decline of 5.0% from HKD 43,315,000 in 2023[5] - The company incurred a net loss of HKD 19,233,000 for the year, slightly improved from a loss of HKD 19,932,000 in the previous year[5] - Total comprehensive income for the year included other comprehensive income of HKD 5,497,000, compared to a loss of HKD 932,000 in 2023[6] - The basic and diluted loss per share for the year was HKD 10.00, compared to HKD 11.98 in 2023, indicating a slight improvement[6] - The company reported a loss attributable to owners of approximately HKD 19,229,000 for the year ending December 31, 2024[14] - The company reported a net loss of HKD 11,948,000 in other income and expenses for 2024, compared to a loss of HKD 254,000 in 2023[23] - The group recorded a pre-tax loss of approximately HKD 19.07 million for the year ending December 31, 2024, an increase of about 1.76% compared to approximately HKD 18.74 million for the year ending December 31, 2023[53] - Total comprehensive expenses attributable to owners of the company decreased by approximately 33.67% to about HKD 13.73 million for the year ending December 31, 2024[55] Assets and Liabilities - The company's total assets decreased to HKD 130,893,000 in 2024 from HKD 134,072,000 in 2023, reflecting a reduction of 2.4%[7] - Current liabilities were reported at HKD 141,747,000, down from HKD 130,875,000 in 2023, indicating an increase of 8.5%[8] - The company's cash and bank balances significantly decreased to HKD 16,518,000 from HKD 71,744,000, a decline of 77.0%[7] - The company’s equity attributable to owners decreased to HKD 12,481,000 from HKD 18,681,000, a drop of 33.3%[8] - The group's current liabilities amounted to approximately HKD 10,854,000[14] - The group's bank overdrafts and borrowings were approximately HKD 2,873,000 and HKD 56,184,000, respectively, with cash and bank balances of approximately HKD 16,518,000[14] - The total borrowings decreased from HKD 120,219 thousand in 2023 to HKD 59,057 thousand in 2024[40] - The bank overdraft decreased from HKD 3,738 thousand in 2023 to HKD 2,873 thousand in 2024[40] Revenue Breakdown - Revenue for the year ended December 31, 2024, was HKD 138,695,000, a decrease of 25.3% from HKD 185,667,000 in 2023[22] - The revenue breakdown by region shows a significant decline in Asia from HKD 146,148,000 in 2023 to HKD 95,566,000 in 2024, a drop of 34.5%[20] - Major customer B contributed HKD 64,134,000 in 2024, up 33.1% from HKD 48,226,000 in 2023[21] Cost Management - The company is implementing an operational plan to control costs and generate sufficient cash flow to meet current and future obligations[14] - The company plans to adopt a cautious approach and continue strict cost control to improve operational efficiency and profitability[46] - Total employee costs decreased to HKD 17,704,000 in 2024 from HKD 21,918,000 in 2023, reflecting a reduction of approximately 19.8%[8] - Administrative expenses decreased by approximately HKD 11.54 million or 23.74% to about HKD 37.06 million for the year ending December 31, 2024[51] - Financial costs reduced by approximately HKD 1.58 million or 17.32% to about HKD 7.54 million for the year ending December 31, 2024, primarily due to the repayment of bank loans[52] - Sales and distribution expenses decreased by approximately 10.05% to about HKD 3.67 million for the year ended December 31, 2024, down from approximately HKD 4.08 million for the previous year[50] Future Plans and Strategies - The company plans to focus on market expansion and new product development to enhance future performance[5] - The company plans to enhance liquidity and reduce borrowings through a transaction pending approval at a special shareholders' meeting[17] - The company plans to focus on core business development and improve product design and development capabilities to maximize long-term returns for shareholders[57] Shareholder Information - The company has no plans to pay dividends to ordinary shareholders for the year 2024, consistent with 2023[28] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: zero)[93] - The company received valid applications for a total of 53,490,250 shares in the rights issue, representing approximately 64.8% of the total shares offered[71] - The total amount raised from the rights issue, including the compensation arrangement, was approximately HKD 8.25 million, with a net amount of approximately HKD 7.47 million after expenses[72] - Approximately HKD 5.98 million of the net proceeds will be used to repay bank loans, and approximately HKD 1.49 million will be allocated for general working capital[72] Corporate Governance - The company has complied with the corporate governance code as of December 31, 2024, except for reasonable deviations as detailed[94] - The chairman and CEO roles are held by the same individual, Mr. Cheung, due to his extensive experience since 1986, which the board believes benefits the company's operations during its rapid development phase[95] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance with trading regulations as of December 31, 2024[97] Audit and Reporting - The independent auditor, Tianjian International, has reviewed the consolidated financial statements for the fiscal year ending December 31, 2024, but does not provide any assurance on the performance announcement[100] - The annual performance announcement and annual report for the fiscal year ending December 31, 2024, will be published on the company's and the stock exchange's websites[101]