Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[5]. - Revenue for the year ended December 31, 2024, was HK$244,604,000, a decrease of 12.2% from HK$278,542,000 in 2023[22]. - For the year ended December 31, 2024, the Group recorded revenue of approximately HK$244.6 million, a decrease of approximately HK$33.9 million or 12.2% compared to HK$278.5 million in 2023[49]. - Loss before taxation improved to HK$6,312,000 in 2024 from HK$9,453,000 in 2023[22]. - The total deficit increased to HK$15,218,000 in 2024 from HK$10,827,000 in 2023[23]. - Loss attributable to owners of the Company was approximately HK$6.6 million for the year ended December 31, 2024, an increase of approximately HK$4.8 million from a loss of approximately HK$1.8 million in 2023[57]. User Engagement and Market Expansion - User data showed an increase in active users, reaching a total of ZZ million, which is an increase of AA% year-over-year[5]. - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB% and an increase in user engagement metrics[5]. - Market expansion plans include entering new geographic regions, with a target of increasing market share by EE% in the next year[5]. - The Group plans to establish a high-end Hunan cuisine brand and expand branches in multiple areas in Mainland China[29]. - The Group remains optimistic about the recovery of Hong Kong's food and beverage industry in 2025, driven by an increase in tourists visiting Hong Kong[48]. Strategic Initiatives - New product launches are expected to contribute to revenue, with an estimated impact of $CC million in the upcoming quarter[5]. - The company is investing in new technology development, allocating $DD million towards R&D initiatives aimed at enhancing product offerings[5]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified that could add $FF million in annual revenue[5]. - The company has established new partnerships that are expected to enhance distribution channels and increase sales by HH%[5]. Cost Management and Financial Health - Cost management strategies are being implemented, aiming to reduce operational expenses by GG% over the next fiscal year[5]. - The Group's cash and cash equivalents were approximately HK$9.2 million as of December 31, 2024, down from approximately HK$10.4 million in 2023, and there were no bank borrowings as of December 31, 2024[60]. - The Group's net current liabilities amounted to HK$29.0 million for the year ended December 31, 2024, indicating a material uncertainty regarding its ability to continue as a going concern[132][136]. - The Group's current ratio improved to approximately 0.5 from 0.4 in 2023, with net current liabilities decreasing to approximately HK$29.0 million from HK$41.6 million[58][59]. Leadership and Governance - Mr. Kong Linglei was appointed as the CEO and Executive Director on February 15, 2024, bringing extensive experience in the catering and media industries[105]. - Mr. Liu Enyu was appointed as the Non-Executive Director and Chairman of the Board on February 9, 2024, with a background in brand management and operations in the catering sector[106]. - The roles of chairman and chief executive officer were separated on February 15, 2024, with Mr. Liu Enyu appointed as chairman and Mr. Kong Linglei as CEO[121][126]. - The company has expanded its leadership team with diverse expertise in catering, technology, and management, enhancing its strategic direction[113]. - The company has complied with the Corporate Governance Code provisions during the year under review, except for deviations from code provisions C.2.1 and D.2.5[119]. Corporate Governance and Compliance - The company is committed to high standards of corporate governance to safeguard and enhance shareholders' interests[118]. - The Board consists of seven Directors, including two executive Directors, two non-executive Directors, and three independent non-executive Directors, ensuring a balance of skills and experience[140][144]. - The Company has established four committees: Audit, Remuneration, Nomination, and Legal Compliance, each with delegated powers[196]. - The Audit Committee will continue to review the necessity of an internal audit function annually, considering the cost-effectiveness of appointing external professionals[130]. - The Company has a policy for Directors to seek independent professional advice at the Company's expense[194]. Awards and Recognition - Five restaurants were awarded one MICHELIN star each, marking a significant achievement for the Group[42]. - The Group's restaurants received multiple awards, including Michelin stars for five restaurants, highlighting its commitment to quality and innovation[46]. Future Plans and Investments - The company plans to fully utilize the proceeds from Placing I and Placing II by December 31, 2025[100]. - The company is also investing HK$2.5 million in potential PRC or overseas food and beverage related investment opportunities from Placing I[93]. - The company intends to continue evaluating its operations and financial performance when applying the proceeds from both placings[100].
佳民集团(08519) - 2024 - 年度财报