Financial Performance - The company reported revenue of approximately HKD 125.9 million for the year ending December 31, 2024, a decrease of about HKD 13.3 million or 9.6% compared to the previous year[8]. - The gross profit for the reporting period was approximately HKD 30.2 million, an increase of about 38.5% from HKD 21.8 million in the previous year[12]. - The company achieved a net profit of approximately HKD 1.8 million, recovering from a net loss of about HKD 12.4 million in the previous year[12]. - The group's revenue decreased from approximately HKD 139.2 million for the year ended December 31, 2023, to approximately HKD 125.9 million during the reporting period, a decline of about 9.6%[15]. - The group's gross profit increased to approximately HKD 30.2 million during the reporting period, compared to HKD 21.8 million in 2023, resulting in a gross profit margin of approximately 24.0%[25]. - The group reported a profit attributable to the owners of the company of approximately HKD 1.8 million during the reporting period, an increase of about HKD 14.2 million compared to a loss of HKD 12.4 million in 2023[33]. - Other income, primarily from government subsidies, amounted to approximately HKD 0.4 million during the reporting period, compared to HKD 0.2 million in 2023[26]. Operational Metrics - The number of events conducted during the reporting period was approximately 780, down from about 890 events in the previous year[12]. - Revenue from exhibitions accounted for approximately 48.4% of total revenue, down from 62.0% in the previous year[12]. - Total service costs decreased from approximately HKD 117.5 million in 2023 to HKD 95.6 million during the reporting period[19]. - Employee benefit expenses accounted for approximately 31.1% of total service costs during the reporting period, compared to 27.6% in 2023[22]. - Administrative expenses decreased by approximately 18.2% from about HKD 23.1 million in 2023 to approximately HKD 18.9 million during the reporting period[30]. - The net financial expenses decreased by approximately 19.1% from about HKD 6.8 million in 2023 to approximately HKD 5.5 million during the reporting period[31]. - Employee costs totaled approximately HKD 48.5 million for the reporting period, down from HKD 53.1 million in 2023, with a total of 135 employees as of December 31, 2024, compared to 152 in 2023[44]. Governance and Compliance - The company has maintained compliance with the corporate governance code, with the exception of a deviation noted in section C.2.1[65]. - The board emphasizes the importance of transparency and accountability for maintaining shareholder trust and creating long-term value[64]. - The company has a strong commitment to corporate governance practices and policies, which are regularly reviewed and updated[65]. - The independent non-executive directors bring over 30 years of experience in financial management and corporate governance[51][53]. - The company has appointed a new independent non-executive director with extensive experience in corporate compliance and governance[55]. - The company has established a corporate secretary role to ensure adherence to corporate governance standards[61]. - The company has adopted GEM Listing Rules regarding the conduct of directors in securities trading, confirming full compliance during the reporting period[67]. Risk Management - The company acknowledges various risks and uncertainties that may impact its financial condition and operational performance, including market risk, credit risk, and liquidity risk[13]. - The company has established a risk management policy that identifies, assesses, and manages key risks affecting its business operations[122]. - The board of directors is responsible for overseeing the effectiveness of the group's risk management and internal control systems[123]. - The company has engaged an independent internal control consultant to review its internal control systems during the reporting period[122]. Environmental, Social, and Governance (ESG) Efforts - The environmental, social, and governance (ESG) report outlines the company's efforts in sustainability and social responsibility[125]. - The report covers the company's environmental, social, and governance performance from January 1, 2024, to December 31, 2024[126]. - The company adheres to the four reporting principles of significance, quantification, balance, and consistency in its ESG report[128]. - The board confirms its responsibility for the accuracy and completeness of the ESG report[133]. - The company emphasizes the integration of sustainable development concepts into its daily operations[135]. - The company has established an Environmental, Social, and Governance (ESG) Committee to enhance transparency and accountability, focusing on climate-related risks and opportunities[137]. - The company identifies key stakeholders, including investors, decision influencers, and affected groups, and maintains effective communication channels to understand market risks and opportunities[138]. Employee Management and Welfare - The total number of employees at the end of the reporting period was 135, down from 152 in the previous year[195]. - Employee composition by gender shows 77.8% male and 22.2% female, with a decrease in female representation from 24.5%[195]. - The company emphasizes a safe, inclusive, and fair work environment, aligning with labor laws in China and Hong Kong[188][193]. - The company provides competitive medical benefits and retirement security through mandatory contributions to pension plans[192]. - The employee training programs and annual performance reviews are designed to foster loyalty and align employee growth with organizational goals[189]. - The company reported zero workdays lost due to occupational injuries for the years 2022, 2023, and 2024[199]. - There were no cases of work-related fatalities reported during the operational period[199].
AV策划推广(08419) - 2024 - 年度财报