Financial Performance - The company reported a total revenue of HKD 1.2 billion for the fiscal year ending December 31, 2024, representing a year-over-year increase of 15%[13]. - The group's revenue increased approximately 136% from about MOP 88.2 million for the year ended December 31, 2023, to about MOP 208.1 million for the year ended December 31, 2024[15]. - The group's net profit after tax for the year ended December 31, 2024, was approximately MOP 24.1 million, compared to a net loss of about MOP 18.5 million in the previous fiscal year[15]. - The group's gross profit increased from approximately MOP 14.7 million for the year ended December 31, 2023, to approximately MOP 49.5 million for the year ended December 31, 2024, representing a growth of about 236.3%[25]. - The gross profit margin improved from approximately 16.7% in 2023 to approximately 23.8% in 2024, primarily due to the increase in gross profit margin from renovation projects[27]. - The company's cash flow from operations increased by 18%, amounting to HKD 250 million, indicating strong operational performance[13]. - Basic earnings per share for the year ended December 31, 2024, was MOP 0.060, an increase of MOP 0.106 compared to a loss of MOP 0.046 per share in 2023[33]. Market Expansion and Strategy - The company provided a forward guidance of 10-12% revenue growth for the next fiscal year, driven by new product launches and market expansion strategies[13]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[13]. - The company launched two new products in Q3 2024, contributing to a 5% increase in overall sales[13]. - The company is preparing for future business development and has identified key risks and uncertainties in its operations[149]. - The company aims to expand its market presence and explore new strategies for growth in the construction and renovation sectors[149]. Investments and Acquisitions - Investment in new technology development increased by 25%, totaling HKD 300 million, focusing on enhancing operational efficiency[13]. - A strategic acquisition of a local competitor was completed, valued at HKD 500 million, expected to enhance the company's service offerings[13]. - The company has entered into a property purchase agreement in Hong Kong for HKD 10.4 million, aimed at expanding its business operations[51]. Operational Performance - The group completed 24 projects and was awarded 26 projects during the fiscal year ending December 31, 2024[15]. - The total value of new awarded renovation projects was approximately MOP 196.3 million for the year ended December 31, 2024, compared to about MOP 100.1 million for the year ended December 31, 2023[22]. - Renovation project revenue increased by approximately MOP 121.0 million or 166.1% for the year ended December 31, 2024[23]. - The revenue from retail shops and restaurants increased by approximately MOP 113.6 million or 186.0% for the year ended December 31, 2024[24]. Corporate Governance - The board of directors has confirmed compliance with all corporate governance codes for the fiscal year ending December 31, 2024[59]. - The board consists of seven members, including three independent non-executive directors, ensuring over one-third of the board is independent[72]. - The company has adopted the corporate governance code principles as the foundation for its governance practices, enhancing shareholder value and accountability[58]. - The chairman and CEO roles are held by different individuals, ensuring a clear separation of responsibilities in leadership[71]. - The company has established appropriate insurance arrangements for directors and senior management against legal liabilities arising from company operations[76]. Risk Management - The company has a robust internal control and risk management system in place, overseen by the board and its committees[74]. - The risk management process includes identifying, assessing, and managing significant risks, with annual reporting procedures in place[111]. - The board and senior management assess risks based on their potential impact on financial performance and the likelihood of occurrence[111]. - The company has implemented several measures to eliminate risks and maintain them at an acceptable level[113]. Shareholder and Financial Policies - The board of directors is responsible for the preparation of the financial statements for the year ending December 31, 2024[115]. - The company has established a dividend policy without a preset payout ratio, allowing flexibility based on financial conditions[130]. - The group plans to distribute a final dividend of HKD 0.025 per ordinary share for the year ending December 31, 2024, pending shareholder approval[156]. - The company has a shareholder communication policy to ensure that shareholder concerns are addressed effectively[129]. Legal and Compliance Matters - The company is involved in a legal dispute regarding a property damage claim amounting to approximately HKD 48,950,000 related to the collapse of a residential building, with a court decision expected within six months[41]. - The company has confirmed that there are no significant uncertainties regarding its ability to continue as a going concern[116]. - The group has achieved compliance with all necessary registrations and certifications for its operations in Macau and Hong Kong as of December 31, 2024[151]. Employee and Management Information - The total employee costs for the year ending December 31, 2024, amounted to MOP 43.3 million, an increase from MOP 36.3 million in 2023[54]. - The senior management team currently has 0% female representation, with 2 male senior managers[100]. - The total employee workforce consists of 17.8% female (26 employees) and 82.2% male (120 employees)[100]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company[78]. Community and Social Responsibility - The company is actively involved in community development and has leadership roles in various associations related to youth and construction in Macau[135]. - The company has adopted an anti-corruption policy, emphasizing integrity, fairness, and transparency, with a zero-tolerance approach to fraud and bribery[106].
黎氏企业(02266) - 2024 - 年度财报