Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately HKD 48,432,000, a decrease of about 6.5% compared to HKD 51,780,000 in 2023[2] - The net loss for the year was approximately HKD 65,785,000, a reduction of about 40.9% from HKD 111,332,000 in 2023[2] - The company reported a pre-tax loss of HKD 85,648,000 for the year, compared to HKD 108,809,000 in 2023[4] - Basic and diluted loss per share for the year was HKD 2.10, improved from HKD 3.56 in 2023[4] - The group reported a decrease in financial expenses from HKD 45,200,000 in 2023 to HKD 42,370,000 in 2024[22] - The company reported a loss attributable to owners of approximately HKD 65,800,000, an improvement from HKD 111,300,000 in the previous year[37] - The group recorded a loss attributable to owners of approximately HKD 65,800,000, a decrease from HKD 111,300,000 in the previous year[59] Assets and Liabilities - Total assets as of December 31, 2024, were approximately HKD 1,069,099,000, down about 13.1% from HKD 1,229,839,000 in 2023[2] - The debt-to-equity ratio increased to approximately 57.9% in 2024 from 50.5% in 2023[2] - Total liabilities decreased to HKD 467,602,000 in 2024 from HKD 573,440,000 in 2023[7] - The asset-to-liability ratio as of December 31, 2024, is approximately 57.9%, up from 50.5% in the previous year, primarily due to the net loss incurred during the year[62] - Total borrowings as of December 31, 2024, amount to approximately HKD 358,100,000, an increase from HKD 344,300,000 as of December 31, 2023[61] Revenue Segmentation - Total revenue and external sales for the property investment segment amounted to HKD 33,354,000, while the property management segment generated HKD 15,078,000, leading to a combined total of HKD 48,432,000[20] - The group's total revenue for the fiscal year ending December 31, 2023, was HKD 51,780,000, with the property investment segment contributing HKD 36,405,000 and the property management segment contributing HKD 15,375,000[21] - Rental income from investment properties totaled approximately HKD 33,400,000, down from HKD 36,400,000 in the previous year[37] - Rental income from investment properties for the year ended December 31, 2024, is approximately HKD 33,400,000, down from HKD 36,400,000 in the previous year, representing a decrease of about 8.2%[39] Fair Value and Investment Properties - The fair value loss on investment properties was HKD 79,456,000, significantly higher than HKD 33,111,000 in the previous year[4] - The group experienced a fair value loss on investment properties of HKD 79,456,000, contributing to a total pre-tax loss of HKD 85,648,000 for the year[20] - The net fair value loss on the revaluation of multiple investment properties was approximately HKD 79,500,000, compared to HKD 33,100,000 in the previous year[37] - The group's total fair value of investment properties as of December 31, 2024, is approximately HKD 1,036,600,000, a decrease from HKD 1,051,600,000 as of December 31, 2023[39] Corporate Governance and Compliance - The audit committee, composed of independent non-executive directors, reviewed the consolidated financial performance for the year ending December 31, 2024, and confirmed compliance with applicable accounting standards[74] - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the year ending December 31, 2024[70] - The company has maintained its adherence to corporate governance codes, with specific deviations noted regarding the roles of the chairman and CEO being held by the same individual[71] - The independent auditor has verified that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[75] Future Outlook and Strategic Initiatives - The company is actively seeking potential projects that align with its core business, particularly in infrastructure-related sectors, in response to the complex operating environment[67] - The group has implemented cost control measures in selling and administrative expenses, while also managing capital expenditures to alleviate cash flow pressures[16] Dividend Policy - The company does not recommend the payment of any final dividend for the year ended December 31, 2024[26] - The board has decided not to declare any dividends for the year ending December 31, 2024, consistent with the previous year[68] Employee and Operational Metrics - The total number of employees as of December 31, 2024, is approximately 92, with total employee costs for the year amounting to approximately HKD 16,300,000[65]
中国城市基础设施(02349) - 2024 - 年度业绩