Financial Performance - Total revenue for the year ending December 31, 2024, was HKD 386,662,000, representing a slight increase from HKD 383,923,000 in the previous year[3]. - Gross profit decreased to HKD 141,666,000 from HKD 165,807,000, indicating a decline of approximately 14.6%[3]. - The company reported a net loss attributable to shareholders of HKD 84,626,000 compared to a profit of HKD 37,213,000 in the previous year[3]. - Basic loss per share was HKD 24.83, compared to earnings per share of HKD 39.06 in the prior year[3]. - The company experienced a net loss of HKD 72,825,000 for the year, compared to a loss of HKD 65,701,000 in the previous year[4]. - The company reported a loss of HKD 84,626,000 for the year ending December 31, 2024, compared to a profit of HKD 37,213,000 for the year ending December 31, 2023[40]. - The basic and diluted loss per share for 2024 was HKD (24.83), while for 2023 it was HKD 39.06[40]. - The company reported a significant impairment loss of HKD 35,814,000 related to investments in joint ventures[29]. Revenue Breakdown - Revenue from toy and gift sales reached HKD 239,744,000 in 2024, a decrease of 8.6% from HKD 262,377,000 in 2023[21]. - Revenue from herbal products was HKD 95,286,000 in 2024, down 21.6% from HKD 121,546,000 in 2023[21]. - Revenue from traditional Chinese medicine business was approximately HKD 95,300,000 this year, down from HKD 121,500,000 in 2023[76]. - Revenue from toys and gifts was HKD 123,231,000 in 2024, compared to HKD 98,818,000 in 2023, reflecting a growth of 24.6%[32]. - Revenue from Chinese herbal medicine was HKD 57,003,000 in 2024, compared to HKD 76,442,000 in 2023, indicating a decline of 25.5%[33]. - Revenue from external customers for the year ended December 31, 2024, was HKD 386,662,000, compared to HKD 383,923,000 for the year ended December 31, 2023, representing a slight increase of 0.6%[26]. Expenses and Costs - Administrative expenses were HKD 82,964,000, down from HKD 86,381,000, reflecting a reduction of about 3.8%[3]. - Total cost of sales increased to HKD 244,996,000 from HKD 218,116,000, marking an increase of about 12.3%[3]. - The cost of sales increased to HKD 190,861,000 in 2024 from HKD 164,500,000 in 2023, reflecting a rise of about 15.9%[40]. - Research and development costs rose to HKD 6,258,000 in 2024, compared to HKD 5,429,000 in 2023, indicating an increase of approximately 15.3%[40]. - The company reported a significant increase in sales and distribution costs, which rose to HKD 36,171,000 in 2024 from HKD 37,346,000 in 2023[40]. - Financial costs increased by approximately 6.8% to HKD 28,900,000 from HKD 27,100,000 in 2023[82]. Assets and Liabilities - Non-current assets amounted to HKD 463,631,000, an increase from HKD 454,819,000 in the previous year[5]. - Current assets increased to HKD 332,980,000 from HKD 315,462,000 year-over-year[5]. - The company’s total liabilities increased to HKD 359,408,000 from HKD 277,349,000 in the previous year[5]. - The company’s total assets decreased to HKD 437,203,000 from HKD 492,932,000 year-over-year[5]. - The group reported a loss of approximately HKD 72,825,000 for the year ending December 31, 2024, and is in a net current liability position of about HKD 26,428,000[97]. - Total liabilities as of December 31, 2024, were HKD 412,962,000, a decrease from HKD 430,305,000 as of December 31, 2023, indicating a reduction of about 4.0%[28]. Strategic Plans and Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[3]. - Future guidance indicates a cautious outlook due to current market conditions and operational challenges[3]. - The company plans to expand its market presence and invest in new product development to drive future growth[32]. - The group is currently evaluating the impact of delayed construction schedules for high-end hotels and villas, expected to commence in October 2025[69]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance code provisions, except for a specific provision regarding the attendance of independent non-executive directors at the annual general meeting[98][99]. - The Audit Committee has reviewed the annual performance report for the year ending December 31, 2024[101]. - The company's annual report will be sent to shareholders and published on the stock exchange and the company's website at an appropriate time[102]. Share Capital and Equity - The company changed its name from "Kiu Hung International Holdings Limited" to "AOM International Group Company Limited" effective November 8, 2024[8]. - The company completed a share consolidation on April 28, 2023, reducing the total number of ordinary shares owed to Mr. Guo from 800,000 to 160,000 shares[56]. - The company completed another share consolidation on January 18, 2024, further reducing the total number of ordinary shares owed to Mr. Guo from 160,000 to 80,000 shares[56]. - The company issued 80,000,000 shares at HKD 0.10 each on May 21, 2019, as part of a debt settlement of HKD 17,600,000[55]. Employee and Operational Metrics - The group employed 321 employees as of December 31, 2024, down from 387 employees in 2023[93].
侨雄国际(00381) - 2024 - 年度业绩