Financial Performance - The company reported a revenue of HKD 98,607,000 for the fiscal year 2024, a decrease of 43% compared to HKD 172,926,000 in 2023[8]. - The operating loss for the year was HKD 132,771,000, which is a 25% improvement from the previous year's loss of HKD 177,273,000[8]. - The annual net loss for the group was approximately HKD 136,522,000, slightly improved from HKD 141,766,000 in 2023, indicating a reduction in losses of about 3.5%[21]. - The basic loss per share improved by 21% to HKD 108.87 from HKD 138.53 in the previous year[8]. - The basic loss per share for the year was approximately HKD 108.87, compared to HKD 138.53 in 2023, reflecting an improvement of about 21.4%[21]. Assets and Liabilities - The total equity decreased by 26% to HKD 273,408,000 from HKD 371,726,000 year-over-year[8]. - The total assets declined by 7% to HKD 1,609,797,000, while total liabilities slightly decreased by 1% to HKD 1,336,389,000[8]. - As of December 31, 2024, the group's total assets were approximately HKD 1,609,797,000, down from HKD 1,728,153,000 in 2023, a decrease of about 6.9%[22]. - The group's total liabilities as of December 31, 2024, were approximately HKD 1,336,389,000, compared to HKD 1,356,427,000 in 2023, showing a decrease of about 1.5%[22]. Corporate Governance - The company has complied with the listing rules regarding the board composition, ensuring at least three independent non-executive directors are present[38]. - All independent non-executive directors have confirmed their independence as per the listing rules, and the board believes they possess the necessary independence and judgment[38]. - The company has established effective mechanisms to ensure effective communication among directors, having held two board meetings during the fiscal year ending December 31, 2024[42]. - The company has established various committees, including the audit committee, remuneration committee, and nomination committee, to oversee different areas of the group's affairs[48]. - The company will review its board structure periodically to ensure compliance with listing rules and maintain effective governance[44]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to ethical corporate citizenship and promoting sustainable development in its business activities[78]. - The group aims to maintain or reduce air pollutant emissions below the current year's levels in the next year[88]. - The group emphasizes the importance of stakeholder engagement and feedback to improve its environmental, social, and governance performance[81]. - The board regularly evaluates and reviews environmental, social, and governance matters to ensure effective oversight[82]. - The company is committed to corporate social responsibility, focusing on employees, the environment, and the community[105]. Employee and Workplace Safety - The group employed approximately 46 staff members as of December 31, 2024, down from 53 in 2023, indicating a reduction in workforce of about 13.2%[28]. - The employee turnover rate is 28.3%, with 14 employees leaving, including 10 males (32.8%) and 4 females (21.1%)[110]. - The group has invested resources to improve workplace safety, resulting in 12 workdays lost due to injuries this year[113]. - There were no reported incidents of non-compliance with occupational health and safety laws in the current year[112]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[176]. - Key audit matters identified include fair value assessments of investment properties and impairment evaluations[178]. - The audit committee is responsible for overseeing the financial reporting process of the group[195]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[196]. - The audit team evaluated the appropriateness of accounting policies adopted by the directors and the reasonableness of accounting estimates and related disclosures[198].
新城市建设发展(00456) - 2024 - 年度财报