Financial Performance - The company recorded a loss of approximately HKD 45,607,000 for the year ended December 31, 2024[3]. - As of December 31, 2024, the company's net current liabilities amounted to approximately HKD 134,213,000[3]. - Total bank loans and overdrafts were approximately HKD 107,580,000, which are due for repayment within one year[3]. - The company's cash and cash equivalents were only about HKD 849,000 as of the same date[3]. Cost Management - Administrative expenses decreased from approximately HKD 50.9 million in 2023 to about HKD 43.1 million in 2024 due to strict cost control measures[6]. - The company has shifted its business model from in-house production to outsourcing orders to a factory in Huizhou, significantly reducing fixed costs for 2025[6]. Financial Support and Restructuring - The chairman has signed a continuous financial support letter to ensure the company can meet its debt obligations[6]. - The company is actively seeking alternative financing opportunities, including share placements and convertible bonds[6]. - The company has engaged in discussions with banks to resolve loan repayment issues and has had vacant properties taken over by banks[6]. Audit Concerns - The auditor was unable to obtain necessary information to assess the feasibility of the company's plans, resulting in a disclaimer of opinion[5].
万里印刷(08385) - 2024 - 年度业绩