Revenue and Profitability - The group's revenue for the year ended December 31, 2024, was HKD 98,971,000, a 1.87% increase from HKD 97,150,000 in 2023[3] - The gross profit decreased significantly to HKD 290,000 from HKD 13,319,000, indicating a substantial decline in profitability[3] - Other income and gains rose to HKD 3,732,000 from HKD 261,000, reflecting a positive trend in additional revenue streams[3] - Revenue for the year ended December 31, 2024, was HKD 98,971,000, an increase from HKD 97,150,000 in 2023, representing a growth of 1.87%[15] - The revenue from foundation and related engineering was HKD 96,410,000, up from HKD 95,327,000, indicating a growth of 1.14%[15] - Alcohol beverage sales increased to HKD 2,561,000 from HKD 1,823,000, reflecting a significant growth of 40.5%[15] - The company reported a total segment loss of HKD 4,228,000 for the year, with a pre-tax loss of HKD 3,563,000[20] - The company incurred other losses totaling HKD 11,442,000 in 2024, compared to only HKD 23,000 in 2023, indicating significant financial strain[25] - Employee costs increased to HKD 33,302,000 in 2024 from HKD 24,159,000 in 2023, marking a rise of approximately 37.9%[25] Loss and Financial Performance - The net loss for the year was HKD 4,228,000, a significant improvement compared to HKD 20,295,000 in the previous year[3] - The company reported a total loss for the year of HKD 20,295,000, compared to a loss of HKD 19,773,000 in 2023, indicating a deterioration in performance[26] - The basic and diluted loss per share improved to HKD 2.48 from HKD 15.54, indicating a positive trend in per-share performance despite the loss[4] - The basic loss per share for 2024 was HKD 2.48, compared to HKD 15.54 in 2023, showing an improvement in loss per share despite the overall loss[26] - The loss attributable to the owners of the company was approximately HKD 4.2 million for the year ending December 31, 2024, compared to a loss of approximately HKD 20.3 million for the year ended December 31, 2023[48] Assets and Liabilities - Total assets decreased to HKD 94,454,000 from HKD 104,305,000, indicating a contraction in the company's asset base[5] - Current assets increased to HKD 80,310,000 from HKD 74,437,000, indicating better liquidity position[5] - Total liabilities decreased to HKD 44,851,000 from HKD 62,329,000, reflecting a reduction in financial obligations[6] - The segment assets decreased from HKD 100,939,000 in 2023 to HKD 89,140,000 in 2024, reflecting a decline of approximately 11.7%[22] - The segment liabilities also decreased significantly from HKD 59,161,000 in 2023 to HKD 44,491,000 in 2024, a reduction of about 24.8%[22] - Trade receivables decreased significantly from HKD 22,777,000 in 2023 to HKD 7,785,000 in 2024, a decline of approximately 65.8%[28] - The total debt (including borrowings and lease liabilities) was approximately HKD 9.9 million as of December 31, 2024, significantly reduced from approximately HKD 25.6 million as of December 31, 2023[50] - The capital debt ratio was approximately 19.9% as of December 31, 2024, a decrease from approximately 60.9% as of December 31, 2023[50] Shareholder Equity and Dividends - The company's equity attributable to owners increased to HKD 49,101,000 from HKD 41,512,000, suggesting improved shareholder value[5] - The company did not declare a final dividend for the year ended December 31, 2024, consistent with the previous year[27] - The company did not recommend the payment of a final dividend for the year ending December 31, 2024[61] Operational Insights and Future Plans - The company plans to maintain stable operations in its core Hong Kong business while actively focusing on the growing alcohol beverage trade market in mainland China[34] - The company is committed to adapting its business strategy to changing market trends in the alcohol beverage sector[34] - The company emphasizes the importance of maintaining good relationships with employees, customers, and suppliers to mitigate operational risks[39] Financial Reporting and Compliance - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective, which are expected to have no significant impact on the financial statements[12] - The new Hong Kong Financial Reporting Standard No. 18 will introduce new presentation requirements for the income statement, effective from January 1, 2027, with retrospective application[13] - The company is currently analyzing the impact of the new regulations on its financial statement presentation and disclosures[13] - The consolidated financial statements for the year ending December 31, 2024, have been reviewed and are consistent with the amounts reported in the group's financial statements[66] - The audit committee believes that the consolidated financial statements comply with applicable accounting standards and GEM listing rules[66] Other Financial Metrics - The cost of sales rose from approximately HKD 83.8 million to approximately HKD 98.7 million, an increase of approximately HKD 14.9 million or 17.7%[42] - Gross profit decreased to approximately HKD 0.3 million for the year ending December 31, 2024, down approximately 97.8% from approximately HKD 13.3 million for the previous year[43] - The gross profit margin fell to approximately 0.3% for the year ending December 31, 2024, a decline of approximately 13.4 percentage points from approximately 13.7% for the previous year[43] - Administrative and other operating expenses rose to approximately HKD 17.5 million for the year ending December 31, 2024, an increase of approximately HKD 2.9 million or 19.9% from approximately HKD 14.6 million for the year ended December 31, 2023[45] - Financing costs decreased from approximately HKD 1.6 million for the year ended December 31, 2023, to approximately HKD 1.4 million for the year ending December 31, 2024[46] - As of December 31, 2024, the total cash and bank balance was approximately HKD 2.7 million, down from approximately HKD 4.8 million as of December 31, 2023[49] - There were no significant investments or capital asset plans as of December 31, 2024[58] - The company had no significant contingent liabilities as of December 31, 2024[60] - The company expresses gratitude to customers, suppliers, business partners, shareholders, and employees for their contributions during the year[67]
基地锦标集团(08460) - 2024 - 年度业绩