Financial Performance - Total revenue for the year ended December 31, 2024, was 85,473 thousand MYR, a decrease of 26.5% compared to 116,351 thousand MYR in 2023[4] - Gross profit for the year was 7,688 thousand MYR, slightly up from 7,613 thousand MYR in the previous year, indicating a marginal improvement in profitability[4] - The company reported a net loss of 7,476 thousand MYR for the year, a significant reduction from a net loss of 20,765 thousand MYR in 2023, reflecting improved financial performance[4] - Total comprehensive loss for the year was 12,228 thousand MYR, compared to 17,219 thousand MYR in 2023, indicating a positive trend in overall financial health[5] - The basic loss per share improved to 0.98 sen from 3.22 sen, indicating a reduction in losses on a per-share basis[5] Cost Management - Administrative expenses decreased to 12,800 thousand MYR from 14,540 thousand MYR, showing a cost control effort by the company[4] - The company incurred a significant cost of goods sold amounting to 26,566 thousand MYR in 2024, down from 61,760 thousand MYR in 2023, reflecting improved cost management[38] - Employee costs, including directors' remuneration, increased to 17,354 thousand MYR in 2024 from 16,633 thousand MYR in 2023, indicating a rise in workforce expenses[38] Asset and Liability Management - Non-current assets increased to 2,047,000 MYR in 2024 from 2,011,000 MYR in 2023, reflecting a growth of 1.79%[6] - Current assets decreased to 35,379,000 MYR in 2024 from 46,877,000 MYR in 2023, representing a decline of 24.5%[6] - Total liabilities increased to 21,019,000 MYR in 2024 from 19,979,000 MYR in 2023, indicating a rise of 5.22%[7] - The company's net assets decreased to 24,241,000 MYR in 2024 from 36,469,000 MYR in 2023, a drop of 33.5%[7] - Cash and bank balances decreased significantly to 7,433,000 MYR in 2024 from 21,681,000 MYR in 2023, a decline of 65.6%[6] Revenue Breakdown - Revenue from air freight agency and related services increased to 10,851 thousand MYR in 2024 from 8,461 thousand MYR in 2023, representing a growth of approximately 28.2%[23] - Revenue from sea freight agency and related services rose to 23,353 thousand MYR in 2024 from 16,688 thousand MYR in 2023, marking an increase of about 40.1%[23] - The group reported a total revenue of 36,741 thousand MYR for freight and warehousing related services in 2024, up from 26,436 thousand MYR in 2023, reflecting a growth of approximately 38.5%[23] Market Outlook and Strategy - The company aims to enhance its market presence and explore new strategies for growth in the upcoming fiscal year[3] - Future outlook includes potential expansion into new markets and continued focus on cost management and operational efficiency[3] - The company aims to strengthen its position as a comprehensive logistics solution provider in Hong Kong and Malaysia, focusing on sustainable development and operational excellence[55] Risk Management - The group faces various risks including operational, market, liquidity, credit, and regulatory risks, with established risk management policies in place[80] - The group relies heavily on information technology for its logistics services, with potential risks associated with system failures[85] Corporate Governance - The audit committee has reviewed the annual performance for the year ending December 31, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[103] - The company has adhered to the corporate governance code throughout the fiscal year, ensuring effective accountability[102] Shareholder Actions - The company did not recommend any dividend payments for the year ended December 31, 2024, consistent with the previous year[39] - The company completed a placement of 126,720,000 shares at a price of 0.1 HKD per share, representing approximately 16.67% of the enlarged issued share capital, raising a net amount of approximately 12.3 million HKD[89][90]
盛良物流(08292) - 2024 - 年度业绩