Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was approximately HKD 168.83 million, a decrease of about 70.0% compared to HKD 563.54 million in 2023[10] - Revenue from big data services for the fiscal year was approximately HKD 167.67 million, down from HKD 561.40 million in 2023[10] - The company reported a loss from continuing operations of approximately HKD 496.37 million for the fiscal year, compared to a loss of HKD 132.46 million in 2023[10] - Loss per share from continuing operations was approximately HKD 0.266 for the fiscal year, compared to HKD 0.061 in 2023[11] - The net asset value per share attributable to owners was approximately HKD 0.05, down from HKD 0.22 in 2023[12] - The company did not recommend a final dividend for the fiscal year, consistent with 2023[13] - The group's gross profit from continuing operations decreased to approximately HKD 100,629,000 for the year ended December 31, 2024, down from HKD 402,390,000 in 2023, resulting in a gross margin of approximately 59.6% compared to 71.4% in 2023[23] - The impairment loss on non-financial assets for the group's continuing operations was approximately HKD 357,606,000 for the year ended December 31, 2024, compared to none in 2023[23] - The group's financing costs increased to approximately HKD 20,509,000 for the year ended December 31, 2024, up from HKD 10,936,000 in 2023, primarily due to increased interest on bank and other borrowings[26] - The group's non-current assets were approximately HKD 112,827,000 as of December 31, 2024, a significant decrease from HKD 495,369,000 in 2023, including intangible assets dropping to approximately HKD 22,885,000 from HKD 367,599,000[27] - The group’s administrative expenses from continuing operations decreased to approximately HKD 92,389,000 for the year ended December 31, 2024, down from HKD 104,187,000 in 2023, mainly due to reduced employee costs[24] - The group’s research and development expenses decreased significantly to approximately HKD 36,087,000 for the year ended December 31, 2024, from HKD 222,054,000 in 2023, primarily due to reduced employee costs and technical service expenses in the big data services segment[24] - As of December 31, 2024, the total debt of the group was approximately HKD 149,202,000, a significant decrease from HKD 595,813,000 in 2023[28] - The group's debt-to-asset ratio as of December 31, 2024, was 1.1 times, compared to 0.7 times in 2023[29] - The current ratio, calculated as current assets divided by current liabilities, was approximately 0.8 times as of December 31, 2024, down from 1.0 times in 2023[29] Business Strategy and Operations - The company is focusing on enhancing its core capabilities and optimizing resource allocation to improve customer retention and operational efficiency[6] - The company plans to upgrade its SaaS/PaaS cloud platform architecture and develop a multimodal data fusion engine to enhance service offerings[8] - The company aims to explore new data applications in government data governance and supply chain finance[8] - The company emphasizes a long-term strategy, focusing on technology development and operational efficiency amidst external challenges[7] - The group has decided to sell its entire interest in the third-party payment services segment due to its negative contribution in the previous year[22] - The average revenue growth rate for LYGR Group from fiscal year 2024 to 2028 is estimated at approximately 24.6%[37] - The average revenue growth rate for LYGR Group from fiscal year 2025 to 2029 has been revised down to approximately 8.1%[41] - The company is primarily engaged in investment holding, with significant revenue expected to continue from its operations in China[62] - The company aims to maintain sufficient reserves while providing ongoing returns to shareholders, considering various financial and operational factors[68] Governance and Compliance - The board consists of experienced directors with backgrounds in finance and law, enhancing governance and strategic oversight[60] - The company has a structured approach to managing its business risks, with policies in place to identify and mitigate potential adverse impacts[63] - The company has faced compliance issues with listing rules, as disclosed in announcements made on May 31, 2024[62] - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[123] - The company has adopted a diversity policy for board members, considering factors such as gender, age, cultural background, and professional experience[134] - The company has established anti-corruption and reporting policies to promote a healthy corporate culture[120] - The board is responsible for overall strategy and performance monitoring, while management is tasked with day-to-day operations[127] - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are properly addressed[170] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes its commitment to sustainable development and corporate social responsibility, integrating environmental, social, and governance (ESG) considerations into its annual risk assessments[178] - The board of directors is responsible for overseeing ESG-related risks and opportunities, establishing strategies and goals, and reviewing performance annually[179] - The company has established an ESG working group composed of senior management to support the board in implementing ESG strategies and managing identified issues[180] - Key ESG issues identified include emissions, greenhouse gas emissions, and energy consumption, with a focus on compliance with environmental laws and regulations[189] - The company is committed to monitoring and adhering to relevant environmental laws, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[189] - The company aims to enhance employee awareness of environmental protection and establish a sustainable operational environment[189] - The company recorded zero emissions of nitrogen oxides, sulfur oxides, and particulate matter during the reporting period, a significant reduction compared to the previous period where nitrogen oxides were 72.48 kg, sulfur oxides were 0.12 kg, and particulate matter was 3.66 kg[191] - The total greenhouse gas emissions decreased from 1,628.34 tons of CO2 equivalent in the previous year to 303.05 tons in the current year, representing a reduction of approximately 81.39%[193] - The company aims to maintain or reduce greenhouse gas emissions density between 90% to 120% compared to the baseline level by December 31, 2024[193] - The company has implemented green office measures to reduce paper usage, including setting printers to double-sided printing by default[198] Shareholder and Stakeholder Engagement - The company encourages all shareholders to attend the Annual General Meeting and allows for proxy representation if unable to attend[166] - The next Annual General Meeting is scheduled for June 2, 2025, with a notice to be sent at least 20 business days prior[166] - Shareholders holding at least 10% of the paid-up capital can request a special general meeting, which must be held within two months of the request[168] - The company’s website provides updated information regarding board members, committee charters, and other relevant corporate communications[170]
联洋智能控股(01561) - 2024 - 年度财报