Financial Performance - The company reported a consolidated financial performance for the fiscal year ending December 31, 2024, in accordance with GEM listing rules[2]. - The group recorded a net profit of approximately HKD 3.8 million for the fiscal year 2024, recovering from a loss of HKD 1.9 million in the fiscal year 2023, driven by a 70.9% increase in revenue from HKD 29.7 million to approximately HKD 50.8 million[15]. - In the fiscal year 2024, the company's revenue increased by approximately 70.9% to about HKD 50.8 million, up from approximately HKD 29.7 million in 2023[32]. - The gross profit for fiscal year 2024 rose to approximately HKD 23.5 million, compared to about HKD 10.9 million in 2023[32]. - The company reported a net foreign exchange loss of HKD 102,425 for the fiscal year 2024, a decrease from a net foreign exchange gain of HKD 71,149 in fiscal year 2023, attributed to fluctuations in the USD/EUR exchange rate affecting Euro-denominated liabilities[49]. - The company did not declare or pay any dividends for the current fiscal year, consistent with the previous fiscal year[177][178]. Business Operations - The company operates primarily in Hong Kong and Macau, with significant locations in North Point and Avenida do Dr. Rodrigo Rodrigues[12]. - The electronic gaming equipment business generated total revenue of approximately HKD 48.5 million, a 77.3% increase from approximately HKD 27.4 million in the fiscal year 2023[22]. - The technical sales and distribution revenue for electronic gaming equipment was approximately HKD 39.0 million, up 178.0% from approximately HKD 14.0 million in the previous fiscal year[22]. - The overall gross profit for the electronic gaming equipment business was approximately HKD 22.9 million, with a gross margin of about 47.3%, compared to HKD 10.6 million and 38.6% in the fiscal year 2023[22]. - The company installed a total of 59 vending machines in various locations across Macau during the fiscal year[30]. - The smart vending machine business generated revenue of approximately HKD 2.2 million with a gross profit of about HKD 0.5 million[30]. - The company sold a total of 180 gaming seats, which includes 4 electronic gaming machines and 176 electronic table game seats, representing a 58% increase from 114 seats sold in the fiscal year 2023[169]. - The electronic table game segment saw a significant increase in sales, with 176 units sold, representing a 214% increase from 56 units in the previous fiscal year[169]. Management and Governance - The board expressed gratitude to shareholders, customers, suppliers, and business partners for their continued support[14]. - The company has a dedicated risk management committee to oversee potential risks[13]. - The company acknowledges the independent auditor's role in ensuring financial integrity and compliance with regulations[13]. - The executive board consists of 7 members, including 4 executive directors and 3 independent non-executive directors, with no other matters requiring disclosure to shareholders or the Hong Kong Stock Exchange[55]. - The company has a strong leadership team with extensive experience in the gaming and investment sectors, including the chairman who has over 19 years in the gaming industry and over 40 years in investment banking[56]. - The Chief Financial Officer has been with the group since 2013 and was appointed CFO in April 2018, bringing significant experience in investor relations and corporate finance[60]. - The management team includes experienced professionals with over 37 years in the industry, enhancing the company's strategic capabilities[61]. - The company adheres to the GEM Listing Rules and has implemented good corporate governance practices to enhance shareholder value[70]. - The board of directors is responsible for overseeing the company's business management and overall performance, ensuring necessary resources are in place[73]. - The independent directors bring extensive experience in accounting, auditing, and corporate governance, ensuring independent judgment in board decisions[63][64][65]. Risk Management - The company emphasizes the higher investment risks associated with companies listed on GEM, which are generally smaller and may experience greater market volatility[8]. - The company has established various internal guidelines to monitor and mitigate risks associated with its business operations[144]. - The board believes that the risk management and internal control measures are adequate and effective for the current business environment[146]. - The board is expected to review the risk management and internal control systems annually[147]. Corporate Social Responsibility - The company has committed to environmental sustainability and compliance with relevant laws and regulations[180][182]. - The company encourages charitable donations while ensuring that such contributions do not facilitate bribery or corruption[107]. - The company maintains a zero-tolerance policy towards corruption, implementing measures to prevent bribery and fraud in all business dealings[105]. Shareholder Relations - The company is committed to ensuring the accuracy and completeness of the information provided in the announcement[5]. - The company has adopted a dividend policy to allow shareholders to share in the profits while reserving sufficient reserves for future development[102]. - The board has resolved not to recommend any dividend for the current year, consistent with the previous year where no dividend was distributed[50]. - The company will consider various factors, including financial conditions and future development needs, when determining dividend declarations[102]. Market Outlook - The group plans to continue developing its electronic gaming equipment business and is collaborating with suppliers to launch new machines and products to meet the growing demand in the gaming market[16]. - The group is optimistic about steady growth in Macau's total gaming revenue and is exploring new opportunities in Abu Dhabi and Thailand[16]. - Macau's total gaming revenue for the year 2024 increased by 23.9% to MOP 226.8 billion (approximately USD 28.3 billion), up from MOP 183.1 billion in 2023[24]. - The number of visitors to Macau in 2024 reached 34.93 million, approximately 88.6% of pre-pandemic levels[25].
亚洲先锋娱乐(08400) - 2024 - 年度业绩