Financial Performance - For the year ended December 31, 2024, revenue was HK$257,749,000, a decrease of 2.4% from HK$264,037,000 in 2023[5]. - Gross profit for 2024 was HK$76,999,000, down from HK$81,429,000 in 2023, reflecting a gross margin of approximately 29.9%[5]. - The company reported a loss before tax of HK$392,000 for 2024, compared to a loss of HK$4,366,000 in 2023, indicating an improvement in operational efficiency[5]. - In 2024, the Group recorded a revenue decrease of approximately HK$6.3 million, totaling approximately HK$257.7 million, and incurred a loss attributable to owners of the parent of approximately HK$3.5 million[40]. - The Group's revenue for the year ended December 31, 2024, decreased by approximately HK$6.3 million, or 2.4%, to approximately HK$257.7 million from approximately HK$264.0 million for the year ended December 31, 2023[60]. - The Group's loss for the year attributable to the owners of the parent remained relatively stable at approximately HK$3.5 million for the year ended December 31, 2024[87]. Revenue Breakdown - Revenue from thermal imaging products and services decreased by approximately 2.6%, amounting to HK$69.9 million (2023: HK$71.8 million), accounting for approximately 27.1% of the group's revenue[44][48]. - Revenue from the self-stabilised imaging products and services segment increased significantly by approximately HK$12.4 million to HK$56.4 million (2023: HK$44.0 million), representing approximately 21.9% of the group's revenue[47][49]. - Revenue from the general aviation products and services segment decreased by approximately 12.1% to HK$128.9 million (2023: HK$146.6 million), accounting for approximately 50.0% of the group's revenue[52][54]. Assets and Liabilities - Total assets as of December 31, 2024, were HK$398,658,000, a decrease from HK$408,814,000 in 2023[6]. - Total liabilities increased to HK$71,105,000 in 2024 from HK$66,569,000 in 2023, representing an increase of 8.1%[6]. Market and Business Strategy - The general aviation products and services segment continued to lead sales, benefiting from increased demand in the domestic general aviation sector[18]. - The Group's general aviation products and services segment continued to lead sales, benefiting from increased demand in various industries due to the promotion of the low-altitude economy in China[21]. - The Group expects significant revenue growth in the general aviation and self-stabilised imaging products and services segments in 2025[31][32]. - The low-altitude economy in Mainland China reached RMB506.0 billion and is expected to reach RMB1,064.5 billion by 2026[51]. - The Group plans to establish a new subsidiary in Kuala Lumpur, Malaysia, in January 2025 to expand its presence in the East Asian and Southeast Asian markets[21][31]. Operational Efficiency and Innovation - The self-stabilised imaging products and optoelectronics products achieved revenue growth through the empowerment of artificial intelligence, showcasing the impact of technological innovations on profitability[15]. - The overall business transformation is driven by the themes of "Intelligence and Globalisation," marking a significant milestone in the company's development[15]. - The Group emphasized the recruitment of R&D talents and the provision of AI training for its staff to enhance technological innovation[22][26]. Cash Flow and Financial Management - As of December 31, 2024, the Group's cash and cash equivalents increased to approximately HK$252.5 million, up by approximately HK$9.2 million from HK$243.3 million as of December 31, 2023[89]. - For the year ended December 31, 2024, net cash generated from operating activities was approximately HK$30.0 million, compared to HK$14.7 million in 2023, primarily due to a decrease in trade and bills receivables[90]. - The net cash from investing activities was approximately HK$53.4 million for 2024, a significant increase from a net cash outflow of approximately HK$16.6 million in 2023[90]. Dividends and Shareholder Information - The Board recommended a final dividend of HK1.35 cents per share and a special dividend of HK2.70 cents per share, totaling HK4.05 cents per share for the year ended December 31, 2024[111]. - The proposed dividends are subject to shareholder approval at the annual general meeting scheduled for June 12, 2025[116]. - The register of members will be closed from June 5, 2025, to June 12, 2025, for determining eligibility to attend and vote at the AGM[117]. - The register will also be closed from June 23, 2025, to June 25, 2025, for determining eligibility for the proposed dividends[118]. Management and Governance - The company has a strong management team with diverse backgrounds in engineering, finance, and aviation[132][144]. - The company is focused on enhancing its operational management and supplier relationships to drive growth[135]. - The board includes independent non-executive directors who provide oversight and independent judgment[138]. - The company is actively involved in the nomination and audit committees to ensure governance and compliance[141]. - The Company has adopted the principles and code provisions of the Corporate Governance Code since its listing date on January 11, 2019[169]. - The Board consists of six members, including three executive Directors and three independent non-executive Directors[179]. - The Company has received written annual confirmations of independence from all independent non-executive Directors, affirming their independence[192]. - The Board has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee specific aspects of the Company's affairs[195].
彼岸控股(02885) - 2024 - 年度财报