Financial Performance - For the year ended December 31, 2024, total revenue was HKD 29,431,000, a decrease of 34.9% from HKD 45,274,000 in 2023[4] - Gross profit for the year was HKD 5,378,000, down 45.0% from HKD 9,771,000 in the previous year[4] - The company reported a loss before tax of HKD 24,195,000, compared to a loss of HKD 48,615,000 in 2023, indicating an improvement of 50.2%[4] - Net loss attributable to equity holders for the year was HKD 24,195,000, a reduction from HKD 49,071,000 in the prior year, reflecting a 50.7% decrease in losses[4] - Basic and diluted loss per share improved to HKD 16.40 from HKD 33.26, indicating a 50.7% reduction in loss per share[4] - Total revenue for 2024 is reported at HKD 30,380,000, a decrease of 28.2% from HKD 42,311,000 in 2023[15] - The group reported a pre-tax loss of HKD 24,195,000 for the year ended December 31, 2024, compared to a pre-tax loss of HKD 48,615,000 in 2023[27] - The total segment loss for the year ended December 31, 2024, was HKD 19,808,000, compared to a segment loss of HKD 23,754,000 in 2023, indicating a 16.5% improvement[27] - Total revenue for the year ended December 31, 2024, decreased by 35% to HKD 29,400,000 from HKD 45,300,000 in 2023[42] - Gross profit for the year was HKD 5,400,000, down 45% from HKD 9,800,000 in 2023, with a gross margin of approximately 18.3% compared to 21.6% in the previous year[42] - The company reported a loss attributable to equity holders of HKD 24,200,000 for 2024, an improvement from a loss of HKD 49,100,000 in 2023[44] Assets and Liabilities - The company's cash and cash equivalents decreased to HKD 6,903,000 from HKD 21,241,000, representing a decline of 67.5%[5] - Current liabilities increased to HKD 41,173,000 from HKD 33,515,000, marking a rise of 22.5%[5] - The company's net assets decreased to HKD 24,788,000 from HKD 51,584,000, a decline of 52.0%[5] - The group's total assets decreased to HKD 65,961,000 in 2024 from HKD 85,099,000 in 2023, representing a decline of 22.5%[26] - The total liabilities increased to HKD 41,173,000 in 2024 from HKD 33,515,000 in 2023, reflecting a rise of 22.9%[26] - As of December 31, 2024, the total equity of the group decreased to HKD 24,800,000 from HKD 51,600,000 as of December 31, 2023, representing a reduction of approximately HKD 26,800,000[58] - The total assets as of December 31, 2024, were HKD 66,000,000, down from HKD 85,100,000 in the previous year, with cash and bank balances decreasing to HKD 6,900,000 from HKD 21,200,000[58] - The group had no borrowings from financial institutions as of December 31, 2024, maintaining a debt-to-equity ratio of zero, consistent with the previous year[62] Revenue Sources - Revenue from travel media decreased from HKD 2,400,000 in 2023 to HKD 500,000 in 2024, a decline of 79.2%[15] - Revenue from financial magazines and other media services decreased from HKD 38,370,000 in 2023 to HKD 29,000,000 in 2024, a decline of 24.5%[15] - The travel media business recorded a revenue of HKD 500,000, a decrease of 79.2% or HKD 1,900,000 compared to HKD 2,400,000 in 2023, representing 1.7% of total revenue[46] - The lending business generated revenue of HKD 900,000, accounting for 3.0% of total revenue, with outstanding loans and accrued interest totaling approximately HKD 9,500,000[49] Impairment and Provisions - Impairment losses on receivables amounted to HKD 20,401,000 in 2024, up from HKD 11,702,000 in 2023, indicating an increase of 74.5%[33] - The company recorded a net impairment loss of approximately HKD 20,400,000 for expected credit losses, compared to a reversal of HKD 11,700,000 in 2023[44] - The group has confirmed loan impairment due to expected credit losses, influenced by the ongoing pandemic and economic downturn affecting borrowers' repayment capabilities[52] Operational Changes - The company continues to engage in various business segments including advertising services, event organization, and securities investment, with a focus on expanding its market presence[6] - The company’s operating segments include travel media, financial magazines, securities investment, virtual reality, and lending services[23] - The company has adopted new accounting standards which may impact future financial reporting but did not significantly affect the current year's financial position[8] - The company expects that the application of new Hong Kong Financial Reporting Standards will not have a significant impact on consolidated financial statements in the foreseeable future[12] - The company has not early adopted any new accounting standards that have been issued but not yet effective, indicating a cautious approach to regulatory changes[12] Employee and Administrative Costs - Employee costs (excluding directors' remuneration) decreased to HKD 113,000 from HKD 895,000 in 2023[34] - Administrative expenses decreased significantly to approximately HKD 8,200,000 from HKD 43,600,000 in 2023, a reduction of 81.2%[44] - The group employed 22 staff members as of December 31, 2024, down from 27 in 2023, with compensation based on performance and industry standards[65] Dividends and Fundraising - The company did not declare any dividends for 2024, consistent with 2023[35] - The company did not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[72] - There were no fundraising activities conducted during the year ending December 31, 2024[60] Other Financial Information - The group recorded other income of HKD 62,000 in 2024, a decrease from HKD 62,000 in 2023[31] - The group had a significant customer, Customer A1, contributing HKD 3,000,000 in 2024, while Customer B1 contributed HKD 6,000,000 in 2023[30] - The group reported a net investment loss of HKD 949,000 in 2024, compared to a net investment income of HKD 2,963,000 in 2023[27] - The group had no significant contingent liabilities as of December 31, 2024[64] - The group had no asset pledges as of December 31, 2024[61] - The 2013 share option scheme expired on December 31, 2023, and no new share option scheme has been adopted as of December 31, 2024[71] - The group has not made any investments exceeding 5% of its total assets during the fiscal year ended December 31, 2024[56]
华泰瑞银(08006) - 2024 - 年度业绩