Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of HKD 54.6 million, an increase from HKD 51.3 million in 2023, while gross profit decreased to HKD 18.4 million from HKD 21.1 million, resulting in a gross margin of 33.7% compared to 41.1% in the previous year[4]. - The net profit attributable to the company's owners surged to HKD 326.3 million from HKD 12.5 million in 2023, primarily due to a one-time gain from debt restructuring[4]. - The group achieved a net cash inflow from operating activities of HKD 3.9 million, a turnaround from a cash outflow of HKD 4.5 million in 2023[5]. - The total borrowings of the group decreased significantly to HKD 33.1 million from HKD 290.8 million in 2023[5]. - The company reported a significant debt restructuring gain of HKD 328,026,000, compared to no such gain in 2023[118]. - Profit before tax surged to HKD 327,954,000 from HKD 14,369,000, marking an increase of 2,283.5%[118]. - Net profit for the year was HKD 326,317,000, compared to HKD 12,511,000 in 2023, reflecting a substantial increase[118]. - Basic and diluted earnings per share improved to HKD 1.0 from HKD 0.038 in the previous year[118]. - The company reported a pre-tax profit of HKD 327,954,000 for 2024, a substantial increase from HKD 14,369,000 in 2023, reflecting a growth of 2,183%[121]. Assets and Liabilities - As of December 31, 2024, the total assets and net assets of the group were HKD 54.7 million and HKD 2.5 million, respectively, with cash and bank balances of HKD 8.8 million, up from HKD 8.1 million in 2023[5]. - The total assets for the group as of December 31, 2024, amounted to HKD 54,667,000, compared to HKD 56,073,000 in 2023, reflecting a decrease of approximately 2.3%[175]. - The group’s total liabilities as of December 31, 2024, were HKD 52,211,000, a decrease from HKD 379,934,000 in 2023, indicating a significant reduction in liabilities[175]. - The company reported a net asset value of HKD 2,456,000, recovering from a net liability of HKD 323,861,000 in 2023[119]. - Cash and cash equivalents at the end of 2024 increased to HKD 8,773,000 from HKD 8,068,000 in 2023, marking a rise of 8.7%[121]. Corporate Governance - The company has maintained compliance with applicable corporate governance codes and regulations throughout the fiscal year ending December 31, 2024[50][57]. - The audit committee, composed of three independent non-executive directors, reviewed the financial statements and found no discrepancies with the auditors[51]. - The company has adopted a board diversity policy that considers factors such as gender, culture, education background, professional experience, skills, knowledge, and tenure for board appointments and re-elections[60]. - All directors are required to retire and stand for re-election every 3 years at the annual general meeting, ensuring a rotation of board members[61]. - The board has established four committees, each with independent authority, to enhance governance and oversight[64]. Employee and Social Responsibility - The group had 19 employees as of December 31, 2024, down from 22 in 2023, with compensation determined based on performance and market conditions[49]. - The company has implemented measures to enhance employee health and safety in response to the COVID-19 pandemic, including regular disinfection of the workplace[96]. - The company has a commitment to training and development, providing comprehensive on-the-job training programs and encouraging participation in external seminars[97]. - The company adheres to labor standards, strictly prohibiting child labor and forced labor, with no serious violations reported during the year[98]. - The company has established a mandatory MPF retirement benefit plan for eligible employees, with contributions calculated as a percentage of basic salary[160]. Environmental, Social, and Governance (ESG) - The company has set up an Environmental, Social, and Governance (ESG) committee to enhance awareness of ESG matters across the group[78]. - The company complies with the Air Pollution Control Ordinance, Wastewater Treatment Ordinance, and Water Pollution Ordinance without any violations reported[84]. - The company has conducted a materiality assessment to identify significant ESG issues relevant to its business and stakeholders[82]. - The company emphasizes the importance of sustainable development and resource conservation in its operations[77]. - The group is committed to sustainable development and aims to create long-term value for society and stakeholders by incorporating environmental factors into its decision-making process[104]. Revenue and Customer Relations - The largest customer accounted for 8.7% of the group's revenue, while the top five customers represented 29.5%[26]. - The largest supplier constituted 42.6% of the group's procurement, with the top five suppliers making up 95.3%[26]. - The group emphasizes the importance of product and service quality as a key competitive advantage, ensuring customer satisfaction through comprehensive training for all service personnel[100]. - The group has not identified any serious violations of laws and regulations related to health and safety, advertising, labeling, and privacy concerning the products and services provided during the year[100]. Financial Reporting and Compliance - The company has adopted accounting policies and applied them consistently to prepare fair and true consolidated financial statements[73]. - The company has not applied any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial position or performance for the current and prior years[124]. - The group assesses tax implications of transactions and records corresponding tax provisions regularly[168]. - The company has confirmed compliance with the standard code for securities trading by all directors for the year ending December 31, 2024[71]. Future Outlook and Strategy - The company plans to focus on organic growth through improved business models, increased market penetration, and product range expansion despite ongoing economic challenges[7]. - The company has no specific major investment or capital asset acquisition plans as of the report date but will continue to seek appropriate investment opportunities[10]. - The group has no significant events occurring after the reporting date[31].
京玖康疗(00648) - 2024 - 年度财报