Financial Performance - The total revenue for the year ended December 31, 2024, was approximately HKD 51,900,000, representing a 74.8% increase from HKD 29,688,000 in 2023[9] - The net loss for the year was approximately HKD 16,111,000, compared to a loss of HKD 12,567,000 in 2023, primarily due to increased administrative expenses related to business expansion[9] - The company's revenue increased by 74.8% from HKD 29,688,000 for the year ended December 31, 2023, to HKD 51,900,000 for the current year[44] - The net asset value improved from HKD 42,579,000 as of December 31, 2023, to HKD 48,220,000 as of December 31, 2024, indicating enhanced financial stability[44] - The company recorded an operating loss despite the revenue growth, highlighting ongoing challenges in operational efficiency[44] Assets and Liabilities - Total assets as of December 31, 2024, were approximately HKD 64,275,000, up from HKD 57,913,000 in 2023[17] - Total liabilities increased to approximately HKD 16,055,000 as of December 31, 2024, from HKD 15,334,000 in 2023, mainly due to an increase in trade and other payables[17] - The net current assets as of December 31, 2024, were approximately HKD 40,612,000, compared to HKD 34,283,000 in 2023[18] - The cash and cash equivalents as of December 31, 2024, were approximately HKD 22,906,000, down from HKD 37,986,000 in 2023[18] - The debt-to-asset ratio as of December 31, 2024, was 15.6%, compared to 17.3% in 2023[18] Capital Expenditures and Funding - The group has committed capital expenditures of approximately HKD 4,107,000 as of December 31, 2024, up from HKD 3,695,000 in 2023[22] - The net proceeds from the 2023 placement amounted to approximately HKD 7,080,000, fully utilized for general working capital[25] - The total amount raised from the 2024 rights issue was approximately HKD 19,780,000, with a net amount of about HKD 17,400,000 allocated for energy-saving projects and general working capital[26] - The net proceeds from the 2024 placement were approximately HKD 4,560,000, intended for the electric vehicle charging business[29] - The company plans to use approximately HKD 8,000,000 from the 2024 rights issue for existing and new energy-saving projects[26] Share Capital and Options - The total number of shares increased to 203,446,544 as of December 31, 2024, compared to 113,028,363 shares in 2023, following the completion of a rights issue and a placement of new shares[19] - The share placement price for the 2024 placement was set at HKD 0.138 per share, with the closing price on October 25, 2024, being HKD 0.152[29] - The new share option plan was adopted on June 2, 2023, and is valid for ten years, expiring on June 1, 2033[85] - The maximum number of shares that can be issued upon exercise of all options under the new plan is capped at 10% of the issued shares as of the date of shareholder approval[88] - The company aims to attract and retain talented employees through the share option plan, which includes various eligible participants[85] Governance and Management - The board of directors includes experienced professionals with extensive backgrounds in finance and engineering, enhancing governance and strategic oversight[40] - The company has not appointed a chairman or chief executive officer, with roles shared among four executive directors[126] - The board consists of seven members, including four executive directors and three independent non-executive directors[128] - The company has adhered to the corporate governance code throughout the year, with some deviations noted[120] - The board is responsible for evaluating the effectiveness of the group's internal control and risk management systems[162] Risk Management - The management has identified operational risks that cannot be completely eliminated, emphasizing the need for effective risk management strategies[48] - Credit risk assessments are conducted for loan financing, including background checks on potential clients and evaluation of repayment sources[49] - The company has a structured approach to managing operational risks through standard operating procedures and internal controls[48] - The group faces credit risk despite conducting credit assessments, with monthly monitoring of loan repayment status by the finance department[51] - The board believes that the risk management and internal control systems are reasonable and effective for the current year[166] Environmental and Social Responsibility - The company aims to integrate environmental and social goals into its business operations and decision-making processes[184] - The board is responsible for overseeing environmental, social, and governance matters and regularly reviews related risks and performance[187] - The company is committed to ethical business practices and aims to provide a safe and healthy work environment for employees[181] - The company focuses on providing energy-efficient solutions through the design and implementation of ultra-high-performance device control systems[189] - The company continues to advocate for energy-saving and water-saving behaviors as part of its overall environmental management agenda[200] Employee and Operational Metrics - The total employee cost for the year was approximately HKD 8,992,000, an increase from about HKD 6,616,000 in 2023, with a total of 27 employees as of December 31, 2024[24] - The number of employees rose from 20 in 2023 to 27 in 2024, leading to a decrease in energy consumption intensity per employee by 10%[190] - Greenhouse gas emissions intensity per employee increased by 209%, from 0.43 tons CO2 equivalent in 2023 to 1.33 tons CO2 equivalent in 2024[192] - The company encourages employees to use electronic documents instead of paper, resulting in an increase in paper consumption per employee from approximately 5.50 kg in 2023 to about 14.87 kg in the current year[196] - The company promotes water conservation practices among employees, although specific water usage data is not available due to the nature of its office operations[197]
信能低碳(00145) - 2024 - 年度财报