Financial Performance - For the fiscal year ending December 31, 2024, total revenue decreased to HKD 428,353,000 from HKD 601,220,000, representing a decline of approximately 28.8%[3] - The gross profit for the fiscal year was HKD 152,941,000, down from HKD 193,607,000, indicating a decrease of about 21.0%[3] - The net loss attributable to the owners of the company for the year was HKD 886,670,000, compared to a profit of HKD 76,689,000 in the previous year, marking a significant shift in performance[4] - The company reported a loss before tax of HKD 957,915,000, contrasting with a profit of HKD 440,777,000 in the prior year[3] - The total comprehensive loss for the year amounted to HKD 1,148,208,000, compared to a total comprehensive income of HKD 65,155,000 in the previous year[6] - The basic loss per share for the year was HKD 61.54, a stark contrast to earnings per share of HKD 5.32 in the previous year[4] - The company reported a net loss of HKD 956,468,000 for the year ending December 31, 2024, with total current assets amounting to HKD 9,494,466,000[11] Assets and Liabilities - Non-current assets decreased to HKD 9,494,071,000 from HKD 10,710,856,000, reflecting a reduction of approximately 11.3%[7] - Current liabilities surged to HKD 9,487,649,000, up from HKD 2,065,737,000, indicating a substantial increase of about 359.5%[8] - The company's cash and cash equivalents decreased to HKD 30,690,000 from HKD 153,259,000, a decline of approximately 80.0%[7] - Current liabilities totaled HKD 9,487,649,000, primarily consisting of bank and other borrowings of HKD 7,738,384,000[11] - The company's equity attributable to owners decreased from HKD 3,592,939,000 in 2023 to HKD 2,701,739,000 in 2024, reflecting a decline of approximately 24.8%[9] - The total non-current liabilities decreased significantly from HKD 13,317,129,000 in 2023 to HKD 5,430,078,000 in 2024, a reduction of approximately 59.3%[9] Revenue Segments - The company reported total revenue of HKD 428.353 million, with significant contributions from various segments including financial services (HKD 132.367 million) and environmental services (HKD 229.145 million) [22] - Revenue from automotive parts sales amounted to HKD 1.715 million, while waste management services generated HKD 229.145 million [22] - The company confirmed that rental income totaled HKD 42.540 million, and interest income from guarantee financing was HKD 27.179 million [22] - The property segment generated revenue of HKD 45,060,000, while the financial services segment reported HKD 137,503,000 in revenue [28] - The environmental segment reported a loss of HKD 129,179,000, contributing to a total loss before tax of HKD 957,915,000 for continuing operations [28] Operational Changes - The company has ceased operations in certain segments, including department store sales, which will be detailed in Note 17 [21] - The company has terminated its commercial printing and department store operations, impacting the overall business structure [25] - The company plans to expand its operations in Grenada, focusing on investment citizenship programs and related developments [26] Financial Management and Strategy - The company is actively exploring financial arrangements to improve liquidity and manage cash flow effectively[11] - The company is monitoring the development status of property projects to ensure expected development and sales forecasts are met[11] - The company has identified key performance indicators for management, which will be disclosed in a single note to the financial statements [20] Legal and Compliance - The company is pursuing legal action against Win Dynamic for approximately HKD 260,435,000 related to a conditional voluntary cash offer for shares[69] - The High Court has granted a temporary injunction preventing Win Dynamic from disposing of assets valued at the amount owed to the company[70] - The company and its subsidiary are asserting that the contract with Win Dynamic is enforceable and not subject to cancellation[73] Future Outlook - The company plans to focus on five property projects to maintain a favorable position in the property sector[131] - The financial services segment is expected to achieve stable business growth by 2025, driven by the anticipated increase in market activity following interest rate cuts by the Federal Reserve[132] - The environmental segment will continue to seek new sources of metal waste and expand its customer base in Japan, leveraging a land lease of approximately 19,609 square meters[128] - The automotive parts segment will cautiously control costs and monitor business developments amid a global shift from gasoline to electric vehicles[129] Employee and Governance - The company employed a total of 187 employees as of December 31, 2024, with a distribution of 56 in Hong Kong, 86 in mainland China, 29 in Japan, and 16 in Grenada[144] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with accounting principles and practices[149] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the year ending December 31, 2024[148]
伟禄集团(01196) - 2024 - 年度业绩