Financial Performance - Revenue decreased by approximately 16.8% to about HKD 44.7 million (2023: HKD 53.8 million) [4] - Gross profit increased by approximately 12.7% to about HKD 15.8 million (2023: HKD 14.0 million) [4] - Loss for the year was approximately HKD 1.4 million (2023: loss of approximately HKD 1.4 million) [4] - Basic loss per share was approximately HKD 5.09 (2023: HKD 16.13) [6] - Revenue from continuing operations for fiscal year 2024 was approximately HKD 44.7 million, a decrease of about 16.8% from approximately HKD 53.8 million in fiscal year 2023 [39] - Gross profit from continuing operations for fiscal year 2024 was approximately HKD 15.8 million, an increase of about HKD 1.8 million from HKD 14.0 million in fiscal year 2023, resulting in a gross margin increase from 26.1% to 35.3% [40] - The total loss for the year from continuing operations was HKD 1,468,000, compared to a loss of HKD 7,458,000 in the previous year, indicating an improvement [24] Assets and Liabilities - Total assets less current liabilities amounted to HKD 28.7 million (2023: HKD 28.9 million) [7] - Non-current assets decreased from HKD 3.9 million in 2023 to HKD 3.1 million in 2024 [7] - Inventory increased to HKD 18.6 million (2023: HKD 12.0 million) [7] - Trade and other receivables decreased to HKD 18.6 million (2023: HKD 20.1 million) [7] - Trade payables decreased to HKD 4.7 million in fiscal year 2024 from HKD 5.9 million in fiscal year 2023 [36] - Trade receivables increased to HKD 6.2 million in fiscal year 2024 from HKD 5.7 million in fiscal year 2023 [35] - Cash and cash equivalents were approximately HKD 6,229,000 as of December 31, 2024, compared to HKD 5,483,000 in 2023 [15] - The company had cash and cash equivalents of approximately HKD 6.2 million as of December 31, 2024, compared to HKD 5.5 million as of December 31, 2023 [45] - The company's debt-to-equity ratio was 6% as of December 31, 2024, compared to 0% as of December 31, 2023 [46] Dividends and Financial Strategy - The company did not recommend the payment of a final dividend for the year ended December 31, 2024 [4] - The group has not proposed a final dividend for the year ending December 31, 2024, consistent with the previous year [69] - The board believes that the group has sufficient cash resources to meet its operational and financial obligations for at least the next twelve months [16] - The group continues to seek alternative financing and bank loans to meet existing financial obligations and future capital expenditures [20] - The board has committed to monitoring general administrative expenses and operational costs closely to improve cash flow [20] Business Operations - The company continues to engage in metal casting business following the sale of its financial printing business [9] - Revenue from the metal casting business for 2024 was HKD 44,728,000, a decrease from HKD 53,776,000 in 2023 [22] - The financial printing business generated revenue of HKD 528,000 in 2023, which is not applicable for 2024 [22] - The metal casting business experienced a revenue decline of approximately 14.24% due to global economic challenges, despite an increase in average selling prices [38] - The company plans to continue focusing on its core operations while exploring potential market expansions and new product developments [25] - The group aims to maintain and strengthen its leading position in the Japanese umbrella manufacturing market while expanding its market share in existing markets such as Hong Kong, Cambodia, and South Korea [63] - The group is shifting its business focus from upstream manufacturing to downstream distribution networks and brand building to enhance profitability and shareholder returns [63] Employee and Operational Costs - Employee costs for continuing operations increased to HKD 17,025,000 in 2024 from HKD 15,990,000 in 2023, reflecting a rise of 6.5% [32] - The employee count decreased to 95 as of December 31, 2024, with total employee costs amounting to approximately HKD 17.0 million, up from HKD 16.1 million in the previous fiscal year [62] - Administrative expenses for fiscal year 2024 were approximately HKD 15.0 million, a decrease of about HKD 3.0 million from HKD 18.0 million in fiscal year 2023 [42] Risk Management - The group faced significant market risks including currency, interest rate, credit, and liquidity risks, impacting business and profitability growth due to intensified industry competition and macroeconomic fluctuations in China, Germany, and globally [52] - The group has maintained a prudent treasury policy, ensuring a robust liquidity position with sufficient cash and cash equivalents to meet payment obligations [54] - As of December 31, 2024, the group had no significant capital commitments or contingent liabilities, indicating a stable financial position [55] - The group did not engage in any major investments, acquisitions, or disposals of subsidiaries during the year, reflecting a cautious approach to capital allocation [56] Compliance and Governance - The group has established a code of conduct for directors regarding securities trading, ensuring compliance with relevant regulations [64] - The audit committee, composed of three independent non-executive directors, reviewed the group's accounting policies and financial reporting matters for the year [66] - The executive directors are Ms. Hu Lanying and Mr. Li Qizhi, while the independent non-executive directors include Ms. Liang Shulan, Ms. Yuan Huimin, and Mr. Qu Ruiqiang [73]
吉盛集团控股(08133) - 2024 - 年度业绩