Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was HKD 428.4 million, a decrease of 28.7% compared to HKD 601.2 million for the fiscal year ending December 31, 2023[9]. - The gross profit for the fiscal year 2024 decreased to HKD 152.9 million from HKD 193.6 million in the previous fiscal year, reflecting a decline of HKD 40.7 million[9]. - The net loss for the fiscal year 2024 was HKD 956.5 million, compared to a net profit of HKD 41.3 million in the fiscal year 2023[9]. - The basic loss per share for the fiscal year 2024 was HKD 0.6154, compared to earnings of HKD 0.0532 per share in the fiscal year 2023[9]. - The net loss included a fair value loss of HKD 201.4 million on investment properties, compared to a fair value gain of HKD 828.6 million in the previous year[10]. - The company does not recommend the distribution of interim and final dividends for the fiscal years 2024 and 2023, resulting in a total dividend of zero for both years[11]. - The group's net loss for fiscal year 2024 was HKD 956,500,000, a significant decline from a net profit of HKD 41,300,000 in fiscal year 2023, primarily due to adverse fair value changes in investment properties[52]. - Other income for fiscal year 2024 was HKD 13.5 million, slightly up from HKD 13.2 million in fiscal year 2023[41]. - Other net income for fiscal year 2024 was HKD 109.2 million, compared to HKD 57.8 million in fiscal year 2023, primarily due to foreign exchange gains[42]. Revenue Segmentation - Property segment revenue increased by HKD 23.2 million, representing a 120.2% increase, while environmental segment revenue decreased by HKD 128.6 million, a decline of 35.9%[38]. - The financial services segment generated revenue of HKD 132,400,000 in fiscal year 2024, a decrease of 7.1% from HKD 142,500,000 in fiscal year 2023, mainly due to declines in interest income from lending and guarantee financing[55]. - The environmental segment's revenue decreased from HKD 357,800,000 in fiscal year 2023 to HKD 229,200,000 in fiscal year 2024, resulting in a segment loss of HKD 129,200,000 compared to a loss of HKD 29,900,000 in the previous year[58]. - The automotive parts segment reported revenue of HKD 1,700,000 in fiscal year 2024, down from HKD 43,100,000 in fiscal year 2023, leading to a segment loss of HKD 32,000,000 compared to a loss of HKD 10,300,000 in the prior year[59]. Investment and Expansion Plans - The company plans to expand its investment opportunities in the Caribbean and Latin America, focusing on sectors such as clean energy, education, tourism, and retail[13]. - The company is seeking partnerships with strong investors to co-invest in projects in designated Caribbean countries and Panama[13]. - The company is exploring new potential investment opportunities in various sectors, including banking, insurance, desalination, and infrastructure engineering[14]. - The company holds a 51% stake in the Laiying Garden project in Nanshan, Shenzhen, which is a mixed-use development covering approximately 106,500 square meters[18]. - The company holds a 70.5% interest in the Grenada project, which spans 450 acres (approximately 1,821,084 square meters) and includes plans for educational facilities and commercial development[34]. - The company aims to diversify its operations in the Caribbean and Latin America through the Grenada project, seeking professional investors for joint investments in new business developments[104]. Financial Position and Risks - As of December 31, 2024, the group's cash and bank balances were HKD 30,700,000, down from HKD 153,300,000 in FY2023[64]. - The group's interest-bearing borrowings amounted to HKD 12,327,800,000 as of December 31, 2024, compared to HKD 13,105,800,000 in FY2023, with a capital debt ratio of 456.3% in FY2024, up from 364.8% in FY2023[64]. - The group faced foreign exchange risks primarily from transactions in HKD, USD, JPY, RMB, and XCD, with no financial hedging instruments in use as of December 31, 2024[66]. - The group had provided corporate guarantees amounting to HKD 8,426,400,000 for bank credit facilities as of December 31, 2024, a slight decrease from HKD 8,753,000,000 in FY2023[67]. Employee and Governance Practices - The group employs a total of 187 employees, with 56 in Hong Kong, 86 in Mainland China, 29 in Japan, and 16 in Grenada[128]. - The group is committed to providing equal opportunities for all employees, evaluating them based on ability, performance, and contribution, regardless of nationality, race, or gender[118]. - The group has implemented policies to ensure adherence to relevant laws and regulations in its financial services and environmental operations[116]. - The group promotes energy-saving and paper-saving measures as part of its corporate social responsibility initiatives[129]. - The group maintains high standards of ethical procurement practices to ensure product quality and public trust[124]. - The board consists of more than one-third independent non-executive directors to provide independent opinions and judgments[197]. - The company has adopted a corporate governance code to ensure high standards of governance and accountability[180]. Market Outlook and Strategic Focus - The global economic outlook remains challenging due to uncertainties in growth prospects and geopolitical tensions, impacting the group's business performance[70]. - The company anticipates stable business growth in the financial services sector by 2025, driven by the expected increase in market activity following the U.S. Federal Reserve's interest rate cuts starting in Q3 2024[99]. - The company plans to maintain a cautious approach in the environmental sector to control operating costs and minimize credit risk, while enhancing competitive advantages to expand its customer base[100]. - The company aims to enhance its financial services by providing diversified and quality services in both primary and secondary markets[74].
伟禄集团(01196) - 2024 - 年度财报