Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of approximately HKD 16.2 million, a decrease of about 30.0% or HKD 6.9 million compared to HKD 23.1 million for the fiscal year ending December 31, 2023[10]. - The annual loss from continuing operations decreased from approximately HKD 36.7 million for the fiscal year ending December 31, 2023, to approximately HKD 28.7 million for the fiscal year ending December 31, 2024[10]. - Total assets as of December 31, 2024, were HKD 31.0 million, down from HKD 50.6 million in 2023, representing a decrease of approximately 38.7%[9]. - Total liabilities increased to HKD 17.2 million in 2024 from HKD 10.9 million in 2023, marking an increase of approximately 57.5%[9]. - The company's net asset value decreased to HKD 13.8 million in 2024 from HKD 39.7 million in 2023, a decline of approximately 65.2%[9]. - The total revenue from continuing operations for the year ended December 31, 2024, was approximately HKD 16.2 million, a decrease of about 30.0% or HKD 6.9 million compared to HKD 23.1 million for the year ended December 31, 2023[14]. - The total gross profit from continuing operations for the year ended December 31, 2024, was approximately HKD 2.0 million, down about 44.4% or HKD 1.6 million from HKD 3.6 million for the year ended December 31, 2023[14]. - The gross profit margin for the year ended December 31, 2024, decreased to approximately 12.3%[14]. - The net loss for the year ended December 31, 2024, was approximately HKD 28.7 million, reduced from HKD 36.7 million for the year ended December 31, 2023[14]. - The loss per share from continuing operations for the year ended December 31, 2024, was approximately HKD 0.3255[14]. Revenue Breakdown - Revenue from machinery rental services decreased from approximately HKD 9.9 million for the year ended December 31, 2023, to approximately HKD 5.3 million for the year ended December 31, 2024[17]. - Total sales from the sale of machinery, tools, and parts decreased from approximately HKD 4.0 million for the year ended December 31, 2023, to approximately HKD 0.8 million for the year ended December 31, 2024[18]. - Revenue from transportation and other services decreased from approximately HKD 0.8 million for the year ended December 31, 2023, to approximately HKD 46,000 for the year ended December 31, 2024[19]. - The construction services business generated revenue of HKD 7.7 million for the year ended December 31, 2024, compared to HKD 8.0 million for the year ended December 31, 2023[21]. - The lending business generated revenue of approximately HKD 0.8 million for the year ending December 31, 2024, compared to HKD 42,000 in 2023[29]. - The newly launched car rental service generated revenue of approximately HKD 1.5 million for the year ending December 31, 2024[30]. Management and Governance - The company appointed Mr. Su Binggen as the executive director and CEO, who has over 30 years of experience in the construction machinery rental and equipment trading industry[53]. - Mr. Liu Desheng, with over 10 years of experience in the real estate sector, was appointed as an executive director in December 2020[54]. - The company has a strong management team with members holding significant experience in finance, real estate, and project management[57][59]. - The company is committed to improving its financial management and corporate governance practices, as evidenced by the appointment of experienced professionals in key roles[57]. - The company aims to leverage its management's extensive industry experience to explore new business opportunities and market expansion[54][59]. - The company has appointed several independent non-executive directors to strengthen its governance and oversight[60]. - The board consists of ten members, including seven executive directors and three independent non-executive directors, ensuring a balanced distribution of power and authority[70]. - The company has adopted a set of guidelines for directors' securities trading, ensuring compliance with GEM listing rules[68]. - The company is committed to high standards of corporate governance and has complied with the GEM listing rules[65]. Risk Management and Compliance - The company is focused on risk management and compliance, with a dedicated team overseeing these areas[59]. - The board has delegated the responsibility for reviewing the risk management and internal control systems to the audit committee, which conducts annual assessments[113]. - The company has implemented a fair disclosure policy to ensure that information is widely and publicly disclosed through financial reports and announcements[116]. - The company has complied with applicable laws and regulations without any significant violations during the year ending December 31, 2024[139]. Shareholder Communication and Dividends - The company has established multiple channels for communication with shareholders to ensure timely access to information[122]. - The company reported no final dividend for the year ending December 31, 2024[129]. - The company's available distributable reserves as of December 31, 2024, were approximately zero HKD[135]. - Shareholders have the right to request a special general meeting if they hold at least 10% of the paid-up capital of the company[118]. Corporate Social Responsibility - The company has maintained its commitment to minimizing environmental impact and ensuring employee welfare without any recorded violations[128]. Stock Option Plan - The company has adopted a share option scheme to incentivize directors and eligible participants[158][160]. - The exercise price for the share options will be determined by the board and must be at least the higher of the closing price on the grant date or the average closing price over the previous five trading days[166]. - The total number of shares issued upon the exercise of all options granted under the share option plan cannot exceed 10% of the shares issued at the time of listing, which is 60,000,000 shares based on 600,000,000 shares issued at listing[167]. - Options must be exercised within a maximum period of ten years from the grant date, subject to performance targets and other conditions set by the board[168]. - The company must seek shareholder approval for any grant of options that exceeds the plan authorization limit, and must provide detailed information in a circular to shareholders[167]. - The company has proposed a stock option plan that requires approval from independent non-executive directors and shareholders if it exceeds 0.1% of issued shares or a value of over HKD 5 million[182].
维亮控股(08612) - 2024 - 年度财报