Financial Performance - The company reported a total revenue of HKD 82,817 for the year ending December 31, 2024, a decrease of 63.5% compared to HKD 226,592 in 2023[3]. - Other income was reported as zero for 2024, down from HKD 185,333 in 2023[3]. - The net loss attributable to shareholders for the year was HKD 8,054,095, compared to a loss of HKD 7,360,719 in the previous year, representing an increase in loss of 9.4%[3]. - The basic and diluted loss per share for the year was HKD 0.028, slightly improved from HKD 0.030 in 2023[3]. - The company reported a loss attributable to owners of HKD 8,054,095 for the year, compared to a loss of HKD 7,360,719 in the previous year, with a weighted average number of ordinary shares of 288,000,000 for the current year[20]. - Total revenue for the year was HKD 82,817, a significant decrease from HKD 226,592 in the previous year, primarily due to a drop in dividend income from listed equity investments[15]. - The company recorded a net loss of HKD 1,361,132 from the sale of financial assets at fair value through profit or loss, compared to a loss of HKD 3,803,351 in the previous year[16]. - The company recorded a net loss of HKD 8,054,000 for the year, compared to a net loss of HKD 7,361,000 in the previous year, with basic loss per share at HKD 0.028[28]. - Total revenue for the year was approximately HKD 83,000, a decrease from HKD 227,000 in the previous year, primarily due to reduced dividend income from listed equity securities[28]. Cash Flow and Liquidity - The company recorded a net cash outflow from operations of HKD 6,081,865 for the year[8]. - As of December 31, 2024, the company had cash and cash equivalents of only HKD 354,521, raising concerns about its ability to continue as a going concern[8]. - The company plans to alleviate liquidity pressure through potential equity financing, selling listed equity securities, and financial support from shareholders[9]. - The company has enhanced its liquidity position through a share placement agreement to issue 57,000,000 shares at HKD 0.17 each, although the agreement expired on March 21, 2025[10]. - The company has received additional loans totaling HKD 1,000,000 for operational funding, which are unsecured and interest-free, due for repayment by December 31, 2027[10]. - The company’s financial position reflects the waiver of director loans totaling HKD 3,600,000 and accrued director salaries of HKD 1,972,694[10]. - The company’s total liabilities net worth was HKD 742,061 as of December 31, 2024, compared to HKD 7,309,950 in the previous year, resulting in a net asset value per share of HKD 0.0026[31]. - The company has entered into multiple loan agreements with directors and shareholders, totaling HKD 3,300,000, with no interest and various repayment dates[33]. - Loan agreements have been extended, with a total of HKD 3,000,000 due by June 30, 2025, and HKD 3,300,000 waived for repayment in February 2025[34]. Assets and Equity - The total assets less current liabilities amounted to HKD 716,439, a significant decrease from HKD 7,609,950 in 2023[4]. - The company’s total equity attributable to shareholders was reported as a deficit of HKD 742,061, compared to a positive equity of HKD 7,309,950 in the previous year[4]. - The company’s investments in listed equity securities had a fair value of HKD 5,170,700 at the end of the reporting period, down from HKD 5,981,920 in the previous year[22]. Expenses and Costs - The company’s administrative and other operating expenses were approximately HKD 9,074,000, an increase from HKD 8,348,000 in the previous year[28]. - The company’s interest expense on lease liabilities increased to HKD 114,418 from HKD 85,018 in the previous year[17]. - As of December 31, 2024, the total employee cost amounted to HKD 4,521,000, a decrease from HKD 4,918,646 in 2023[46]. Corporate Governance and Compliance - The company has complied with the corporate governance code as required by the listing rules[57]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with accounting principles[64]. Future Outlook and Strategy - The outlook for 2025 suggests continued recovery in the Hong Kong stock market, supported by strong IPO activity and increased demand for financial services[29]. - The management anticipates a challenging global economic environment in the future and will adopt prudent measures to manage existing investments[53]. - There are no significant investments or capital asset agreements signed as of the announcement date, but potential investment opportunities will be evaluated[52]. Shareholder Actions - Dividend payment is not recommended for the year ended December 31, 2024, consistent with the previous year[19]. - The board does not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[55]. - The group did not engage in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[51]. - The group has not purchased, sold, or redeemed any of its listed securities during the reporting period[56]. Environmental and Social Responsibility - The company is committed to environmental and social standards, promoting sustainability and compliance with relevant laws and regulations[45]. Name Change - The company has changed its name to "China Sci-Tech Industrial Investment Group Limited" as of June 19, 2024[39].
核心经济投资(00339) - 2024 - 年度业绩