Financial Performance - Total revenue for the fiscal year 2024 was HKD 1,605.4 million, a decrease of 3.5% compared to HKD 1,663.1 million in fiscal year 2023[3] - The operating loss for the fiscal year 2024 was HKD 434.6 million, compared to an operating loss of HKD 276.1 million in fiscal year 2023[3] - The company reported a net loss of HKD 484.7 million for the fiscal year 2024, compared to a net loss of HKD 362.4 million in fiscal year 2023[6] - Basic and diluted loss per share for the fiscal year 2024 was HKD 22.93, compared to HKD 17.22 in fiscal year 2023[7] - The company recorded a loss attributable to equity holders of HKD 481.4 million for fiscal year 2024[37] - The total loss before tax for the segments increased to HKD 443,691,000 in 2024 from HKD 281,068,000 in 2023, representing a rise of about 57.9%[18] Revenue Segments - The property investment segment saw a significant increase in revenue, rising by 59.9% to HKD 96.4 million from HKD 60.3 million in the previous year[3] - Revenue from original equipment manufacturing decreased by 6.8% to HKD 930.0 million in fiscal year 2024, compared to HKD 998.1 million in fiscal year 2023[38] - The company's domestic retail revenue was HKD 579.0 million in fiscal year 2024, a decline of 4.3% year-on-year[35] - In fiscal year 2024, the group's retail business in China generated revenue of HKD 579.0 million, a decrease of 4.3% from HKD 604.7 million in fiscal year 2023[39] - The main brand, Finity, contributed HKD 206.9 million to retail revenue, down 9.6% from HKD 228.9 million in the previous fiscal year[39] - Revenue from mainland China remained stable at HKD 1,154,137,000 in 2024 compared to HKD 1,151,704,000 in 2023, showing a slight increase of 0.4%[19] Assets and Liabilities - The company's equity attributable to shareholders decreased to HKD 1,559.8 million from HKD 1,990.1 million, reflecting a decline of 21.6%[3] - The total assets of the company as of December 31, 2024, were HKD 3,284.9 million, down from HKD 3,407.2 million in the previous year[4] - The company’s total liabilities increased to HKD 1,713.3 million from HKD 1,402.9 million, representing a rise of 22.1%[5] - As of December 31, 2024, the group recorded net current liabilities of HKD 15,354,000[10] - The group's bank borrowings rose to HKD 599.5 million as of December 31, 2024, compared to HKD 383.3 million at the end of the previous year[41] - The debt-to-equity ratio increased to 38.1% as of December 31, 2024, from 19.1% a year earlier[41] Cash Flow and Costs - Cash and cash equivalents decreased to HKD 140.5 million from HKD 308.3 million, indicating a decline of 54.4%[4] - Employee costs for fiscal year 2024 were HKD 392.1 million, an increase of 3.6% from HKD 378.3 million in fiscal year 2023[44] - The group implemented cost-saving measures to maintain sufficient cash flow for operations[11] - The group's financing costs totaled HKD 22,377,000, reflecting the financial burden on operations[17] - Financing costs increased to HKD 24,361,000 in 2024 from HKD 20,961,000 in 2023, an increase of approximately 16.5%[22] Investment and Future Plans - The group plans to enhance its production base in Cambodia and invest in cross-border e-commerce to expand its global market presence in 2025[42] - The domestic retail market in China is expected to exceed RMB 4 trillion by 2025, with an annual growth rate of around 5%[43] - Capital expenditures for fiscal year 2024 amounted to HKD 278.3 million, primarily for the expansion of the Huading International Fashion Industry Base[45] Audit and Governance - The audit committee has reviewed the financial reporting procedures and risk management for the fiscal year 2024[52] - The group's auditor, BDO Limited, has agreed that the financial figures in the preliminary announcement for the fiscal year 2024 are consistent with the draft consolidated financial statements[53] - There were no purchases, sales, or redemptions of the company's listed securities during the fiscal year 2024[54] - The annual report for the fiscal year 2024 will be published on the company's website and the Hong Kong Stock Exchange in due course[55] - The annual general meeting is scheduled for May 27, 2025, with a suspension of share transfer registration from May 22 to May 27, 2025[56] - The board of directors consists of several executive and independent non-executive directors, including the CEO and chairman[57]
华鼎控股(03398) - 2024 - 年度业绩