Financial Performance - For the fiscal year ending December 31, 2024, the company recorded revenue of approximately HKD 160 million, a decrease of about 19.4% compared to HKD 198.6 million in 2023[9]. - The loss for the fiscal year was approximately HKD 88 million, a significant reduction of about 67.7% from HKD 272.6 million in 2023[9]. - The decrease in loss was primarily due to a reduction in fair value losses on financial assets and a decrease in impairment of property, plant, and equipment[9]. - The QR code business generated revenue of approximately HKD 60.4 million, down about 14.7% from HKD 70.8 million in 2023, with a segment loss of approximately HKD 9.5 million[18]. - The packaging products business recorded revenue of approximately HKD 75.8 million for the year ended December 31, 2024, a decrease of about 29.1% compared to HKD 106.9 million in 2023, with a segment loss of approximately HKD 7.4 million[19]. - The Rhyne algae product business generated revenue of approximately HKD 16.1 million, a decrease from HKD 20.3 million in 2023, with a segment loss of approximately HKD 13 million, significantly reduced from HKD 106.1 million in the previous year[22]. - As of December 31, 2024, the company held outstanding unsecured borrowings of approximately HKD 297.4 million and secured bank borrowings of approximately HKD 68.7 million, with an asset-liability ratio of about 113%, up from 94% in 2023[25]. - The total employee cost for the year, including director remuneration, was approximately HKD 69,000,000, a decrease from HKD 70,400,000 in 2023[79]. Business Strategy and Development - The company plans to expand its product offerings, including low glycemic index foods and new applications for its products, such as plant-based fish and shrimp[12]. - The company has entered over 2,000 retail and food service locations in the Chinese market, establishing a solid foundation for business growth in 2024[12]. - The company aims to enhance product and process research and development to improve production efficiency and reduce energy consumption[10]. - The company is focusing on developing two product lines and enhancing market exposure through various sales channels and marketing activities[10]. - The company anticipates launching various new products using green and white strains of its algae by 2025 to meet diverse customer needs[13]. - The company has a strategic focus on expanding its QR code business and enhancing its technological capabilities through research and development investments[38]. Investments and Financial Management - The financial investment business reported a fair value gain of approximately HKD 4.6 million, compared to a fair value loss of approximately HKD 0.9 million in the previous year, while the fair value loss for non-trading financial assets was approximately HKD 38.1 million, down from HKD 99.5 million in 2023[20]. - As of December 31, 2024, the group held significant investments valued at approximately HKD 51.2 million in listed investments and HKD 95.9 million in unlisted investments[43]. - The fair value of the group's significant investments accounted for 5% or more of total assets, with specific investments including HKD 37,168,000 in Haotian International Construction Investment Group[43]. - The company has a strong network in capital markets in Hong Kong and China, enhancing its investment and acquisition capabilities[49]. - The company has been involved in various sectors, including mining, logistics, education, and internet industries, showcasing its diverse investment portfolio[49]. Corporate Governance - The independent auditor, Deloitte Touche Tohmatsu, has audited the financial statements and is eligible for reappointment[94]. - The board of directors will consider various factors, including financial performance and economic conditions, before recommending any dividend payments[68]. - The board has established three committees: audit committee, remuneration committee, and nomination committee, to assist in governance[108]. - The company emphasizes the importance of corporate governance for sustainable growth and stakeholder value creation[99]. - The board has not established a corporate governance committee, with responsibilities shared among all board members[123]. Environmental, Social, and Governance (ESG) Initiatives - The company has implemented an environmental policy aimed at reducing its environmental impact and promoting employee health and safety[145]. - The group has implemented a "zero wastewater discharge" goal by achieving 100% reuse of production wastewater in its Shanxi algae business[168]. - The group plans to continue enhancing its ESG governance framework and align with national "dual carbon" strategies for sustainable development[168]. - The average customer satisfaction rate reached 97% with no product recalls due to safety and health reasons during the year[173]. - The company aims to reduce its carbon footprint by enhancing energy efficiency and reducing emissions through various measures[175]. Risk Management - The company is actively monitoring currency risks, particularly with revenues primarily denominated in USD and RMB, and expenses in HKD and RMB[32]. - The board acknowledges the importance of the internal control system for risk management and compliance with laws and regulations[141]. - The company has identified acute risks from extreme weather events, which could lead to revenue loss and increased operational costs[182]. - Chronic risks such as rising average temperatures may increase operational costs related to cooling systems and health protection measures[182]. - The company regularly assesses climate-related risks and develops targeted strategies to mitigate potential negative impacts on financial performance[186].
透云生物(01332) - 2024 - 年度财报