Financial Performance - In 2024, the revenue of Imperium Technology Group Limited decreased to HK$51,510,000, a decline of 29% compared to HK$72,557,000 in 2023[6]. - The loss attributable to owners of the Company for 2024 was HK$43,195,000, significantly reduced from HK$127,733,000 in 2023, representing a 66% improvement[6]. - Total assets decreased to HK$87,159,000 in 2024, down 14% from HK$100,929,000 in 2023[6]. - The total liabilities of the Company decreased to HK$266,409,000 in 2024, a reduction of 25% compared to HK$353,744,000 in 2023[6]. - The Group's total revenue for 2024 decreased by approximately 29.0% to approximately HK$51,510,000 compared to HK$72,557,000 in 2023, primarily due to a decrease in sales from the household products segment and lack of contribution from Metasens projects[28][31]. - Loss attributable to shareholders for the Year was approximately HK$43,195,000, a decrease from HK$127,733,000 in 2023, mainly due to expenses related to the Holosens project and reduced research and development costs[28][31]. - Revenue from the online game business decreased by approximately 27.5% to HK$15,080,000, with a significant contribution drop of approximately HK$10,490,000 from Metasens projects[34][37]. - The revenue from cloud computing and data storage business decreased by approximately 46.6% to HK$2,823,000, driven by a reduction in unit output of Filecoin[39]. - The household products business revenue fell to approximately HK$1,913,000, down from HK$18,292,000 in 2023, leading to a segment loss of approximately HK$382,000[45]. - The property investment business generated revenue of approximately HK$1,257,000, down from HK$1,642,000 in 2023, but achieved a segment profit of approximately HK$1,361,000[46]. - The money lending business revenue decreased to approximately HK$700,000 from HK$1,673,000 in 2023, with a segment gain of approximately HK$684,000[47]. - Gross profit margin increased from 14.7% in 2023 to 39.4% in 2024 due to improved margins in the esports and online game businesses[54]. - Other income rose from approximately HK$1,405,000 in 2023 to approximately HK$1,870,000 in 2024, mainly due to a one-time sponsorship from business partners[57]. - Administrative expenses decreased from approximately HK$90,056,000 in 2023 to approximately HK$47,665,000 in 2024, driven by reductions in share-based payments, employee costs, R&D expenses, and amortization of intangible assets[57]. - The Group experienced a net loss of approximately HK$41,725,000 and an operating cash outflow of approximately HK$19,730,000 for the year ended December 31, 2024[72]. Business Strategy and Development - The Company plans to invest resources in technology-related businesses, particularly in blockchain games, to enhance competitiveness in the online gaming and esports sectors[17]. - The Group recognizes the long-term development prospects of emerging technologies and aims to seize corresponding market opportunities[23]. - The Group is actively developing the Holosens project, a social-focused metaverse platform utilizing virtual reality technology and generative AI for enhanced user experiences[33][36]. - The Group plans to explore IT consulting services leveraging blockchain technology to assist clients in transforming their business operations[40]. - The Group will continue to invest resources in exploring business opportunities related to blockchain technology, AI, and Web3, while exercising caution due to rapidly changing market conditions[48]. - The Group's ongoing commitment to innovation and technology development remains a core strategy for future growth, particularly in the realms of online gaming and cloud services[27][30]. Market Outlook - The GDP of the People's Republic of China grew at an annual rate of 5.0% in 2024, outperforming market expectations[16]. - The global economy is predicted to grow at 3.2% in 2024 amid geopolitical and macroeconomic uncertainties[22]. - The digital economy is expected to account for approximately 17.0% of global GDP by 2028, with a CAGR of approximately 7.0% through 2028[22]. - The gaming market is projected to grow with a CAGR of 3.1% from 2022 to 2027, indicating a more stable growth aligned with the overall economy[22]. Financial Position and Liabilities - The Group's net current liabilities increased to approximately HK$216,800,000 in 2024 from HK$208,024,000 in 2023, primarily due to the reclassification of loans from related parties[60]. - The gearing ratio decreased from 298.0% in 2023 to 246.3% in 2024, reflecting a reduction in loans from related parties[70]. - As of December 31, 2024, the Group had no bank borrowings and loans from related parties amounted to approximately HK$214,684,000, down from HK$300,767,000 in 2023[66]. - The Group entered into revolving loan facilities with an independent third party for up to HK$25,000,000 at an interest rate of 12% per annum, with a repayment date 12 months from the drawdown[63]. Shareholder Information - The Group's reserves available for cash distribution amounted to approximately HK$42,967,000 as of December 31, 2024[120]. - The Board does not recommend any final dividend for the year ended December 31, 2024, consistent with the previous year[118][125]. - The largest customer accounted for 30.7% of the Group's total sales, while the five largest customers collectively represented 62.0%[135]. - The largest supplier contributed to 63.1% of the Group's total purchases, with the five largest suppliers together making up 96.1%[135]. - As of December 31, 2024, Mr. Cheng Ting Kong holds 214,428,488 shares, representing 57.45% of the total shares issued[152]. - The total number of shares in issue as of December 31, 2024, is 373,243,200 shares[153]. Corporate Governance - The Company has a policy of retirement by rotation for directors, with eligible directors offering themselves for re-election[140]. - The Company received written confirmation of independence from all independent non-executive directors, affirming their independence[144]. - All independent non-executive directors have entered into a service contract with the Company for a term of 3 years[140]. - The Company has not been notified of any interests or short positions in shares that require disclosure under the provisions of the SFO as of December 31, 2024[155]. - The Board believes that all major corporate actions are fully deliberated and determined by the Board, ensuring that no director competes with the Company or its business[168]. - The Group operates independently from competing businesses, with an executive committee established to assess business opportunities and performance independently[171]. Employee and Remuneration - The Group's employee remuneration decreased from approximately HK$52,595,000 in 2023 to approximately HK$34,256,000 in 2024, mainly due to a decrease in amortization of share options granted in 2022[82]. - As of December 31, 2024, the Group employed approximately 137 staff[82]. Share Option Scheme - A share option scheme was adopted on June 29, 2018, to incentivize and retain high-caliber employees[175]. - The purpose of the Share Option Scheme is to reward eligible persons for their contributions to the Group and attract valuable human resources[177]. - As of December 31, 2024, the total number of share options available for grant under the Share Option Scheme was 37,324,320[186]. - The total number of shares available for issue is 42,056,752, representing approximately 11.27% of the issued shares of the Company[190]. - The scheme will remain valid and effective until June 28, 2028, after which no further options will be granted[196].
帝国科技集团(00776) - 2024 - 年度财报