Financial Performance - Revenue for the year ended December 31, 2024, increased by approximately 2.9% to HKD 65,667,000, compared to HKD 63,812,000 in 2023[5] - The company reported a loss attributable to owners of approximately HKD 11,262,000 for the year ended December 31, 2024, an improvement from a loss of HKD 15,857,000 in 2023[5] - The company experienced a net loss of HKD 10,816,000 for the year, an improvement from HKD 17,641,000 in 2023[6] - Operating loss for the year ended December 31, 2024, was HKD 7,467,000, compared to HKD 14,769,000 in 2023[6] - Total comprehensive income for the year was HKD 306,000, compared to HKD 381,000 in the previous year, reflecting a decrease of about 19.7%[7] - The company reported a net loss of HKD 10,816,000 for the year 2024, compared to a loss of HKD 17,641,000 in 2023, indicating an improvement of approximately 38.5%[7] - Basic loss per share for 2024 was HKD (3.13), an improvement from HKD (4.40) in 2023[35] - The total loss before tax for the year was HKD 10,357,000, with tax expenses of HKD 459,000[22] Equity and Liabilities - Total equity attributable to owners as of December 31, 2024, was approximately HKD -10,865,000, compared to HKD 6,000 in 2023[5] - Total liabilities decreased to HKD 58,330,000 in 2024 from HKD 26,200,000 in 2023, reflecting a reduction of approximately 122.3%[8] - The total liabilities of the company exceeded total assets by approximately HKD 10,720,000 as of December 31, 2024, raising concerns about the company's ability to continue as a going concern[44] - The company’s total equity was reported at HKD (10,720) as of December 31, 2023[15] - The company’s capital reserve was reported at HKD (46,892) as of December 31, 2023[15] Assets and Cash Flow - Non-current assets increased to HKD 452,000,000 in 2024 from HKD 380,000,000 in 2023, marking a growth of about 18.9%[8] - Current assets totaled HKD 89,797,000 in 2024, up from HKD 49,358,000 in 2023, which is an increase of approximately 81.9%[8] - The company reported cash and cash equivalents of HKD 53,569,000 in 2024, compared to HKD 26,176,000 in 2023, indicating a growth of about 104.5%[8] - The company’s total asset value, after deducting current liabilities, was HKD 41,837,000 in 2024, up from HKD 26,590,000 in 2023, representing a growth of approximately 57.3%[8] Revenue Sources - Revenue from design and renovation services was HKD 61,349,000, while the securities investment segment reported a loss of HKD 7,988,000[22] - The design and renovation segment's revenue increased from HKD 60,098,000 to HKD 62,213,000, reflecting a growth trend[19] - The design and renovation business accounted for approximately 93.4% of total revenue for the year ending December 31, 2023, with revenue of HKD 63.8 million[50] Financing and Investment - Major shareholder has agreed to provide a loan of up to HKD 5,000,000 to ensure the company can meet its financial obligations in the foreseeable future[15][18] - The company is actively seeking other financing methods and bank loans to support its existing financial responsibilities and future capital expenditures[18] - The company holds significant investments amounting to approximately HKD 14,000 million, with major equity investments including HSBC Holdings Limited (HKD 1,999 million) and China Merchants Bank (HKD 269 million)[58] - The company plans to continue its strategic monitoring of market trends and investment performance[59] Corporate Governance - The board of directors is committed to maintaining good corporate governance and has adhered to all corporate governance codes as per GEM listing rules[85] - The audit committee is responsible for reviewing and supervising the company's financial reporting and risk management processes[87] Operational Challenges - The group recognized a net impairment loss of HKD 1,039 million on trade receivables in 2024, compared to HKD 67 million in 2023, indicating increased credit risk[25][26] - The auditor has issued a qualified opinion on the consolidated financial statements for the year ending December 31, 2023, due to the lack of access to the former subsidiary's records[82] Strategic Outlook - The company plans to implement various measures to enhance overall sales network and effective cost control to improve profit margins and cash flow[18] - The group remains optimistic about the long-term prospects of its design and renovation business despite economic uncertainties[48] - The board is optimistic about the prospects of the Hong Kong capital securities market and believes that new business will further enhance the company's financial performance and shareholder value[48]
利骏集团香港(08360) - 2024 - 年度业绩