Financial Performance - The company's revenue for the fiscal year 2024 was approximately HKD 292.4 million, a decrease of 7.1% from HKD 314.8 million in 2023[5] - Operating profit for 2024 was HKD 5.2 million, a significant recovery from a loss of HKD 68.5 million in 2023[5] - The net loss from continuing operations decreased by 80.4% to HKD 14.7 million in 2024, compared to HKD 74.7 million in 2023[5] - The basic loss per share for 2024 was HKD 1.0, a reduction of 76.7% from HKD 4.3 in 2023[5] - Total revenue decreased by approximately HKD 22.4 million (or 7.1%) to approximately HKD 292.4 million in 2024 compared to HKD 314.8 million in 2023[23] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 642.9 million, down 9.7% from HKD 712.0 million in 2023[6] - The company's total liabilities decreased by 11.2% to HKD 462.7 million in 2024, compared to HKD 520.9 million in 2023[6] - The current ratio for 2024 was 1.0, slightly down from 1.05 in 2023, indicating stable liquidity[7] Revenue Breakdown - Revenue from the China market increased by approximately HKD 1.9 million (or 0.7%) to approximately HKD 268.2 million in 2024, driven by increased sales of completion products and drilling services[22] - Revenue from the overseas market decreased by approximately HKD 24.3 million (or 50.1%) to approximately HKD 24.2 million in 2024, primarily due to the completion of several service contracts without renewal[23] - Revenue from the North China region decreased by approximately HKD 17.9 million (or 26.4%) to approximately HKD 49.8 million in 2024, mainly due to reduced production and drilling services[24] - Revenue from the Southwest China region increased by approximately HKD 12.8 million (or 7.4%) to approximately HKD 185.2 million in 2024, driven by increased production services[25] - Revenue from the Middle East decreased by approximately HKD 29.4 million (or 61.5%) to approximately HKD 18.4 million in 2024, mainly due to reduced consulting services[26] Cost Management - Material costs for the year were approximately HKD 41.4 million, a decrease of about HKD 6.7 million (or 13.9%) from HKD 48.1 million in 2023, representing 14.2% of revenue in 2024, down from 15.3% in 2023[36] - Employee benefits expenses were approximately HKD 44.0 million, a decrease of about HKD 4.6 million (or 9.5%) from HKD 48.6 million in 2023, due to the completion of several supervisory service contracts[38] Employee and Workforce - The group had a total of 195 employees as of December 31, 2024, a decrease of approximately 23.8% from 256 employees as of December 31, 2023, primarily due to the completion of several consulting service contracts in the Middle East[60] - The gender distribution of employees is 15% male and 85% female, with 88% of employees in frontline and other roles[132] - The total employee turnover rate for the reporting period was 46.03%, with 87 employees leaving the company[141] Environmental, Social, and Governance (ESG) - The group integrates ESG considerations into daily operations, reflecting its commitment to environmental protection, employee welfare, and community engagement[73] - The group aims to monitor the progress of ESG-related goals through various methods, including meetings and regular inspections of production facilities[74] - The group emphasizes the importance of compliance with increasingly stringent ESG regulations to ensure long-term viability[68] - The group has established an ESG task force composed of senior management to drive the integration and management of ESG concerns in business activities[73] Energy and Resource Management - Total energy consumption for the reporting period was 41,020.21 MWh, with an overall energy consumption density of 0.15 MWh per thousand HKD revenue, a decrease of 14.0% compared to the previous reporting period[111] - Diesel consumption decreased to 40,611.70 MWh in 2024 from 49,781.11 MWh in 2023, representing a reduction of approximately 18.0%[112] - Water consumption in 2024 was 177 cubic meters, a decrease of over 15% compared to 210 cubic meters in 2023, exceeding the set target of a 1% reduction[116] Corporate Governance - The board of directors consists of 3 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring compliance with corporate governance codes[173] - The company has maintained a high level of corporate governance, adhering to the corporate governance code as per the Hong Kong Stock Exchange[173] - The company has established a risk management system and identified no significant risks during the risk assessment conducted in 2024[197] Innovation and R&D - The group has 33 utility model patents and 10 invention patents as of December 31, 2024, and is in the process of applying for 33 utility model patents and 8 invention patents[61] - The company is investing resources in the research and development of new energy service technologies[128] - The company has established technical cooperation teams with renowned research institutions to advance research in energy-efficient low-carbon utilization and new carbon storage technologies[127]
百勤油服(02178) - 2024 - 年度财报