Financial Performance - For the fiscal year ending December 31, 2024, the total revenue decreased to HKD 157,235,000 from HKD 191,422,000, representing a decline of approximately 17.8% year-over-year[2] - Gross profit for the same period was HKD 98,344,000, down from HKD 131,994,000, indicating a decrease of about 25.3%[2] - The net loss for the year was HKD 174,286,000, compared to a net loss of HKD 279,395,000 in the previous year, reflecting an improvement of approximately 37.6%[2] - The total comprehensive loss for the year amounted to HKD 178,997,000, down from HKD 252,510,000, showing a reduction of about 29.1%[3] - The group reported a pre-tax loss of HKD 175,157,000 for the year ending December 31, 2024, compared to a pre-tax loss of HKD 278,243,000 for the previous year[17][19] - The company reported a net loss of HKD 174,244,000 for the year 2024, compared to a net loss of HKD 279,466,000 in 2023, representing a 37.6% improvement in losses year-over-year[30] - The group recorded a loss of approximately HKD 174,300,000 for the year ended December 31, 2024, compared to a loss of HKD 279,400,000 in 2023, primarily due to expected credit loss on receivables of approximately HKD 175,600,000[45] Revenue Breakdown - Revenue from medical products for the year 2024 was HKD 72,234,000, a slight increase from HKD 71,956,000 in 2023, while revenue from plastic toys decreased from HKD 7,224,000 to HKD 4,487,000[15] - Total revenue from customer contracts for 2024 was HKD 157,235,000, down from HKD 191,422,000 in 2023, representing a decrease of approximately 17.8%[15] - External revenue from Hong Kong decreased from HKD 112,244,000 in 2023 to HKD 99,872,000 in 2024, a decline of about 11.0%[22] - The group’s external revenue from Europe fell from HKD 62,017,000 in 2023 to HKD 46,723,000 in 2024, a decrease of approximately 24.7%[22] - The group’s external revenue from the United States decreased from HKD 7,462,000 in 2023 to HKD 4,435,000 in 2024, representing a decline of about 40.7%[22] Assets and Liabilities - Current assets decreased significantly to HKD 754,717,000 from HKD 1,301,062,000, a decline of approximately 42%[4] - Current liabilities increased to HKD 512,763,000 from HKD 427,560,000, representing an increase of about 19.9%[4] - The company's total equity decreased to HKD 249,252,000 from HKD 428,249,000, a decline of approximately 41.9%[5] - The total amount of trade and other receivables and prepayments decreased to HKD 115,420,000 in 2024 from HKD 150,596,000 in 2023, a decline of 23.3%[31] - The group’s cash and cash equivalents decreased by approximately HKD 36,700,000 to about HKD 91,100,000 as of December 31, 2024[46] Cost and Expenses - The company reported a significant reduction in financial costs, decreasing to HKD 28,178,000 from HKD 52,313,000, a drop of approximately 46.1%[2] - The company recorded a total employee benefit expense of HKD 23,203,000 in 2024, down from HKD 27,607,000 in 2023, a decrease of 16.1%[28] - The impairment loss on loans receivable was HKD 156,259,000 in 2024, a decrease from HKD 285,397,000 in 2023, marking a 45% reduction[28] Segment Performance - The group has three operating segments: medical products and plastic toys, securities brokerage and asset management services, and lending and other financial services[14] - The group’s total interest income from receivables decreased from HKD 108,954,000 in 2023 to HKD 76,607,000 in 2024, a decline of approximately 29.7%[15] - The group’s total segment performance showed losses across all segments, with the medical products and plastic toys segment reporting a loss of HKD 14,106,000 for 2024[17] Dividends and Governance - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[29] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [53] - The company has adopted the Corporate Governance Code and has confirmed compliance throughout the year ending December 31, 2024 [61] - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and discussed audit and financial reporting matters for the year ending December 31, 2024 [60] Future Outlook - The group plans to expand its financial services in Hong Kong and China, focusing on existing businesses and exploring potential investment opportunities[44] - The group has initiated the development of asset management services but has not generated any revenue from this segment due to a weak market and declining investor enthusiasm[42] Miscellaneous - The company has not disclosed any new product developments or market expansion strategies during the reporting period[6] - There have been no significant events after the year ending December 31, 2024, up to the date of this announcement [54] - The company and its subsidiaries have not purchased, sold, or redeemed any of the company's listed securities for the year ending December 31, 2024 [55] - As of December 31, 2024, there are no interests or short positions in shares or debentures of the company held by directors, supervisors, or key executives [56] - The major shareholder list as of December 31, 2024, shows Opus Platinum Growth Fund holding 18,000,000 shares, representing 7.82% of the issued share capital [58] - The company’s financial statements for the year ending December 31, 2024, are consistent with the preliminary announcement figures [62] - The annual report for the year ending December 31, 2024, will be published on the stock exchange and the company's website in due course [63] - The company has not been informed of any other relevant interests or short positions in the issued share capital as of December 31, 2024 [58]
隆成金融(01225) - 2024 - 年度业绩