Revenue and Profitability - The group's revenue increased by 251.9% from HKD 38,267,000 in the previous year to HKD 134,680,000 in the current year, primarily due to increased rental income from investment properties and new construction services[17]. - Profit for the year was HKD 2,565,000, compared to HKD 2,182,000 in the previous year, indicating a positive growth trend[29]. - The company reported a net profit of HKD 2,565,000 for the year ending December 31, 2024, compared to HKD 2,509,000 in the previous year, reflecting a growth of approximately 2.2%[175]. - Operating profit for 2024 was HKD 26,489,000, compared to HKD 10,706,000 in 2023, reflecting an increase of 147%[171]. - The company reported a basic and diluted earnings per share of HKD 0.05 for 2024, down from HKD 0.09 in 2023[171]. Rental Income - Rental income from investment properties in Hong Kong rose by 11% to HKD 7,096,000, up from HKD 6,398,000, driven by higher average rental income per apartment[18]. - The group generated HKD 81,887,000 in rental income from approximately 240 leased properties in China, a significant increase from zero in the previous year, as leasing arrangements commenced in April 2024[18]. - The company has a stable rental income from the leasing agreement, ensuring cash flow for the Silicon Valley Industrial Park[34]. Construction Services - Construction services revenue increased by HKD 23,108,000, attributed to the establishment of a new business segment in the current year[20]. - The company has expanded into construction services to diversify its offerings and create additional value, leveraging its expertise and industry relationships[15]. - The company aims to enhance property management and related services to stimulate future revenue and profit growth[34]. Financing and Costs - Financing costs surged by 186.0% to HKD 23,704,000 from HKD 8,289,000, primarily due to increased interest payments on lease liabilities in China[28]. - The company incurred financing costs of HKD 23,704,000 in 2024, compared to HKD 8,289,000 in 2023, which is an increase of 186%[171]. - Employee costs decreased by 20.8% to HKD 16,562,000 from HKD 20,922,000, mainly due to a reduction in workforce[23]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to HKD 1,075,264,000, compared to HKD 598,619,000 in 2023, indicating an increase of 79.5%[172]. - The outstanding bank loans amount to HKD 144,000,000 as of December 31, 2024, down from HKD 160,000,000 in 2023[30]. - The asset-liability ratio as of December 31, 2024, is 106%, a significant decrease from 179% in 2023[39]. - Current liabilities decreased from HKD 388,801,000 in 2023 to HKD 263,395,000 in 2024, a reduction of 32.3%[172]. Shareholder and Governance - The company did not recommend a final dividend for the year ending December 31, 2024[54]. - The company's available distributable reserves as of December 31, 2024, were zero, unchanged from the previous year[62]. - The company has received written confirmation from its controlling shareholder for continued financial support for at least twelve months[36]. - The company’s board of directors includes Mr. Huang Binghuang, who holds 60.01% of the company's shares, amounting to 3,812,395,735 ordinary shares[70]. Compliance and Regulations - The company has complied with all relevant laws and regulations in Bermuda, Hong Kong, mainland China, and the British Virgin Islands for the year ending December 31, 2024[51]. - The company has complied with corporate governance codes and is not aware of any violations of applicable laws and regulations[126]. - The company has adopted a code of conduct for directors' securities transactions, confirming compliance throughout the year[101]. Audit and Financial Reporting - The consolidated financial statements for the year ending December 31, 2024, will be audited by the appointed auditor, C.P.A. Limited[96]. - The company is responsible for preparing financial statements that are true and fair in accordance with the Hong Kong Financial Reporting Standards[162]. - The audit report provides reasonable assurance that the financial statements are free from material misstatement due to fraud or error[164]. Sustainability and Development - The company has made progress in sustainable development while seeking business growth, optimizing energy and resource efficiency, and promoting environmental protection[50]. - The company is committed to maintaining gender diversity and equality among its employees and senior management[124]. Future Outlook - The company plans to implement cost-reduction measures to improve its financial position and cash flow[182]. - The company has received assurance from its controlling shareholder to provide sufficient funds to meet its upcoming liabilities[182].
中亚烯谷集团(00063) - 2024 - 年度财报