Financial Performance - For the year ended December 31, 2024, the Group recorded revenue of approximately HK$403,359,000, an increase of 2.9% from HK$392,220,000 in 2023[18] - The Group reported a loss for the year of approximately HK$9,251,000, compared to a profit of HK$513,000 in 2023[18] - The gross profit margin for 2024 is projected to be 15.6%, down from 17.4% in 2023[11] - The Group reported a gross profit of approximately HK$62,753,000, a decrease of 8.2% from HK$68,364,000 in 2023, with the gross profit margin declining from 17.4% to 15.6%[31] - Operational costs amounted to approximately HK$340,606,000, reflecting an increase of approximately HK$16,750,000 or 5.2% compared to the previous year[38] - The Group's other income increased to approximately HK$16,571,000, up by approximately HK$1,502,000 compared to the same period last year[39] Operational Metrics - Container throughput at Hong Kong port decreased by 5.0% compared to the previous year, impacting overall market conditions[18] - The Group's feeder shipping services, carrier owned container services, and barge services saw an increase in total shipment volume of 58,141 TEUs or 16.3%, despite a gross profit decrease of approximately HK$9,056,000 or 15.3%[33] - Sea freight forwarding agency services recorded an increase in shipment volume of 5,084 TEUs or 62.6%, with gross profit rising by approximately HK$3,445,000 or 38.0%[34] Assets and Liabilities - Current assets as of December 31, 2023, were HK$189,322,000, while current liabilities were HK$138,645,000, resulting in net current assets of HK$50,677,000[15] - The Group's total assets amounted to HK$354,039,000 as of December 31, 2023, with a gearing ratio of 23.8%[15] - As of December 31, 2024, the Group held bank balances and cash of approximately HK$114,090,000, compared to approximately HK$106,505,000 in 2023[48] - The Group's gearing ratio as of December 31, 2024, was 25.1%, up from 23.8% in 2023[48] - Mortgage loans increased to approximately HK$43,092,000 as of December 31, 2024, from approximately HK$19,209,000 in 2023[48] - The Group's term loan was fully repaid during the year ended December 31, 2024, which was approximately HK$25,620,000 in 2023[48] Management Strategies - The management plans to respond to challenges by increasing revenue, reducing expenses, and strengthening financial stability[20] - The Group is actively developing new customers to create additional revenue sources while maintaining close relationships with existing customers[24] - The management has identified high borrowing rates as an issue and has taken steps to reduce bank borrowings and refinance loans to lower interest expenses[25] - The Group is confident in navigating the anticipated challenging operating environment in 2025, ensuring long-term benefits for shareholders[26] Environmental, Social, and Governance (ESG) Initiatives - The Group is committed to integrating sustainable development initiatives into its operations, focusing on environmental stewardship, social responsibility, and corporate governance[69] - The ninth Environmental, Social, and Governance Report covers the Group's sustainable development performance for the year ended December 31, 2024, adhering to core reporting principles[70] - The Group employs a dual-dimensional materiality assessment framework to evaluate the financial implications and societal impact of its operations[75] - The Group identified anti-corruption as the most material issue, followed by employment practices and customer engagement[84] - The Board of Directors oversees the Group's long-term sustainable development initiatives and ESG commitments[87] - The Group conducts thorough assessments to identify critical ESG issues and integrates them into management frameworks[95] Employee and Workplace Safety - As of December 31, 2024, the Group had a total workforce of 176 employees, with 138 located in Mainland China and 38 in Hong Kong[110] - The employee turnover rate was 2% for females and 23% for males, with a total turnover rate of 25% for employees under 30 years old[113] - The Group maintained a zero-incident safety record for workplace accidents in the fiscal year 2024, with no work-related fatalities reported over the past three years[120] - The Group has implemented a comprehensive occupational safety framework, including regular fire evacuation drills and established communication channels for safety information dissemination[116] - The Group emphasizes human capital development, providing extensive resources for professional advancement and maintaining a performance-based discretionary bonus system[123] Environmental Impact and Compliance - For the fiscal year ended December 31, 2024, the Group achieved a 9.48% decrease in gasoline oil consumption compared to the previous year, leading to a proportional drop in overall greenhouse gas emissions[162] - The Group's greenhouse gas emissions for 2024 were recorded at 33,130.84 tonnes CO2 equivalent, down from 36,599.13 tonnes in 2023, with a target to reduce emissions to ≤ 19,559.53 tonnes by 2030[165] - The Group's electricity consumption for 2024 was 183,467.35 kWh, slightly lower than 189,855.00 kWh in 2023, with a target to maintain consumption at ≤ 183,753.66 kWh by 2030[165] - The Group's gas oil consumption for 2024 was 10,169.68 tonnes, down from 11,243.80 tonnes in 2023, with a target to reduce this to ≤ 5,548.50 tonnes by 2030[165] - The Group's paper consumption for 2024 was 2.68 tonnes, compared to 2.01 tonnes in 2023, with a target to limit consumption to ≤ 2.97 tonnes by 2030[165] - The Group emphasizes environmental stewardship through structured initiatives aimed at promoting sustainable practices among employees and supply chain partners[156] Supplier and Procurement Practices - All suppliers complied with the Group's supply chain management approach, which integrates environmental and social responsibility principles[130] - The geographical distribution of suppliers includes 123 in Hong Kong and 298 in Mainland China[136] - The Group prioritizes partnerships with suppliers demonstrating strong environmental and ESG practices when price and quality are comparable[133] Anti-Corruption and Compliance Measures - A zero-tolerance policy regarding bribery and corrupt practices is enforced, ensuring integrity throughout all business operations[142] - The Group has implemented a whistleblowing framework for reporting potential instances of fraud and corruption, allowing confidential submissions to the Board of Directors[143] - The Group maintained an exemplary compliance record with zero concluded legal cases related to corrupt activities involving the Group or its employees during the reporting period[150]
永丰集团控股(01549) - 2024 - 年度财报