Financial Performance - For the year ended December 31, 2024, the Group recorded revenue of approximately HK$970,061,000, representing a decrease of approximately 20.08% compared to HK$1,213,830,000 in 2023[17]. - The annual loss for 2024 was approximately HK$53,139,000, reflecting a reduction of approximately 38.00% compared to the loss of HK$85,709,000 in 2023[17]. - Loss per share decreased to approximately HK4.87 cents, down approximately 27.74% from HK6.74 cents in 2023[17]. - For the year ended December 31, 2024, the Group recorded total revenue of approximately HK$970,061,000, representing a decrease of approximately 20.08% compared to 2023[88]. - The Group recorded a loss attributable to owners of approximately HK$63,632,000, a reduction in loss of approximately 27.72% compared to 2023[102]. - Gross profit for the year was approximately HK$116,587,000, representing an increase of approximately 25.34% compared to 2023, with a gross profit margin of approximately 12%[93]. - The silicone rubber business generated revenue of approximately HK$244,030,000, accounting for approximately 25.16% of the Group's total revenue, an increase from 18.63% in 2023[89]. - The digital marketing business revenue was approximately HK$627,161,000, accounting for approximately 64.65% of total revenue, down from 75.1% in 2023[90]. - The retail segment showed growth with revenue of approximately HK$98,870,000, accounting for approximately 10.19% of total revenue, up from 6.2% in 2023[91]. Business Segments - The Silicone Rubber Business maintained stable levels in both domestic sales and export shares, serving customers in China, Japan, the United States, and Europe[13]. - The Digital Marketing Business continued to provide efficient advertising and digital marketing services, contributing to the Group's revenue diversification[13]. - The overseas Retail Business completed an asset restructuring in the second half of 2024, aiming to leverage e-commerce models for sales expansion[13]. - The Group's core business, the Silicone Rubber Business, maintained stable levels in both domestic sales and export shares, providing high-quality silicone rubber products to customers in China, Japan, the United States, and Europe[50]. - The International Digital Marketing Business, launched in 2023, has been steadily accumulating premium client resources and significantly contributed to the Group's sales in 2024[62]. - The UK retail operations were successfully restructured and rebranded as Ekau (UK) Ltd, offering a variety of popular food and daily necessities from various regions[63]. - The Group's healthcare and hotel services segment continues to support its diversified business model, contributing to overall performance[50]. Strategic Plans - The Group plans to broaden the range of silicone rubber products and enhance brand influence in the upcoming year[13]. - The Group will focus on strengthening its core silicone business and promoting green manufacturing practices to align with global carbon neutrality goals[19]. - The Group aims to maintain existing customer relationships while actively developing new high-quality clients in the silicone segment[19]. - The Group plans to strengthen its existing silicone business while actively seeking high-quality new customers to maintain product quality and production efficiency[22]. - The Group aims to maximize net profit by improving capital utilization efficiency and rationalizing cash flow and capital structure planning[24]. - The Group will continue to seek new potential businesses to improve performance and maximize returns[25]. - The Group plans to continue investing in new silicone rubber technologies, focusing on innovation, market expansion, and sustainable development, to meet rising demand in high-tech industries[70][73]. - The Group plans to expand into the UK entertainment live-streaming market, aiming to enhance user engagement and market influence through high-quality content and precise traffic management[86]. Governance and Management - The composition of the Board includes three executive Directors, three non-executive Directors, and three independent non-executive Directors, meeting the minimum requirements of the Listing Rules[148]. - The independent non-executive Directors provide independent judgment on strategy, performance, and risk, contributing to the Board's decision-making processes[149]. - The Board is responsible for overseeing the management of the Company's business to maximize long-term shareholder value while balancing stakeholder interests[158]. - The Board has reserved matters for its decisions, including long-term strategy, major capital projects, and annual financial results[164]. - The Company has complied with the applicable code provisions of the Corporate Governance Code throughout the year ended December 31, 2024, with minor exceptions noted[139]. - The Board has mechanisms in place to ensure independent views and input, which were reviewed and deemed effective for the year ended December 31, 2024[153]. - The Company has established clear responsibilities and authority between the Chairlady and CEO to ensure a balance of power and accountability[185]. - The Company has renewed directors' and officers' liability insurance for all Directors and senior management for the year ended December 31, 2024[182]. Market Conditions - According to IMF forecasts, global GDP growth in 2025 is projected to be around 3.1%–3.3%, with developed regions expected to grow at less than 2%[18]. - The global economy experienced a gradual recovery in 2024, driven by the restoration of international supply chains and a rebound in market demand[51]. - The Group's retail business is highly dependent on imported products, making it vulnerable to changes in logistics costs and international trade policies[115]. - The Group's silicone rubber business faces competition from both existing silicone products and new material products, which may intensify if competitors expand product categories or reduce prices[119]. Operational Efficiency - The Group will implement comprehensive management strategies to optimize revenue structures and enhance technological innovation[24]. - The Group's liquidity remained stable, with cash and cash equivalents decreasing to approximately HK$11,924,000 from HK$28,024,000 in 2023[108]. - As of December 31, 2024, the Group's total current assets were approximately HK$385,430,000, while total current liabilities were approximately HK$520,443,000, indicating a tight cash position relative to current liabilities[116]. - The Group's cash management strategy is conservative, with unallocated funds placed in short-term deposits at recognized financial institutions in Hong Kong and China[133]. Employee and Compensation - The total salaries and related costs for the year ended December 31, 2024, were approximately HK$119.1 million, compared to approximately HK$115.9 million in 2023[134]. - The Group employed 715 permanent and temporary employees as of December 31, 2024, a slight decrease from 717 in 2023[134]. Risk Management - The Group has not established any financial instruments for hedging purposes as of December 31, 2024, and will closely monitor currency trends to manage exchange rate risks[133]. - No material contingent liabilities were noted for the Group as of December 31, 2024[128].
大洋集团(01991) - 2024 - 年度财报