Financial Performance - For the eighteen months ending June 30, 2025, the group's revenue was approximately HKD 383.5 million, an increase of about HKD 132.9 million or 53.0% compared to the revenue of approximately HKD 250.6 million for the year ending December 31, 2023[5]. - The group's loss (after tax) for the eighteen months was approximately HKD 5.2 million, which included an impairment loss of approximately HKD 4.0 million on non-financial assets, compared to a loss of approximately HKD 35.9 million for the year ending December 31, 2023[5]. - The gross profit for the eighteen months was approximately HKD 159.4 million, compared to HKD 127.1 million for the previous year, indicating a positive trend in profitability[5]. - The company reported a net loss before tax of approximately HKD 4.7 million, a significant improvement from a loss of approximately HKD 35.8 million in the previous year[5]. - The company recorded a total revenue of HKD 31,938 million, down from HKD 9,139 million year-over-year[7]. - The total comprehensive loss for the year was HKD 35,912 million, reflecting a decline from the previous year's comprehensive loss[7]. - The company reported a significant increase in equity attributable to owners, rising to HKD 56,794,000 from HKD 37,095,000, which is an increase of 53.3%[9]. - The company recorded a pre-tax loss of HKD 4,729,000, highlighting challenges in operational efficiency[24]. - The group reported a loss (after tax) of approximately HKD 5.2 million for the reporting period, compared to a loss of about HKD 35.9 million in the same period last year[62]. Revenue Segmentation - Total revenue for the furniture and home decor segment reached HKD 383,477,000, with sales from furniture and home decor sales contributing HKD 169,354,000[24]. - The hotel services segment generated revenue of HKD 180,702,000, indicating a significant contribution to overall performance[24]. - Revenue from furniture sales increased by approximately HKD 38.5 million or 29.4% to approximately HKD 169.4 million, driven by increased sales to local homeowners and large real estate developers in Hong Kong[51]. - Revenue from project engineering surged by approximately 91.4% to approximately HKD 180.7 million, attributed to the completion of three major residential projects for a well-known real estate developer in Hong Kong[53]. Operational Efficiency and Strategy - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive future growth[5]. - The management is committed to addressing the challenges faced in the previous financial year and is optimistic about the upcoming periods[5]. - The company plans to shift focus from retail sales in Hong Kong and UAE to project engineering services due to market challenges[46]. - The group plans to expand its business through organic growth and potential acquisitions when suitable opportunities arise, particularly in the UAE and Hong Kong markets[50]. - The company aims to manage cash flow prudently and may reconsider the renewal of existing retail leases[49]. Financial Position and Assets - As of June 30, 2025, total assets amounted to HKD 107,537,000, a decrease from HKD 150,368,000 as of December 31, 2023, representing a decline of approximately 28.5%[8]. - Non-current assets include property, plant, and equipment valued at HKD 2,987,000, significantly up from HKD 770,000 in 2023, indicating a growth of 287.0%[8]. - Current assets decreased to HKD 28,128,000 from HKD 29,543,000, reflecting a decline of 4.8%[8]. - Total liabilities decreased to HKD 65,709,000 from HKD 126,596,000, a reduction of 48.0%[9]. - The net asset value increased to HKD 41,828,000 from HKD 23,772,000, showing a growth of 76.0%[9]. - Cash and cash equivalents decreased to HKD 4,926,000 from HKD 23,303,000, a decline of 78.8%[8]. Share Capital and Financing - The company completed a share placement on February 6, 2023, issuing 264 million shares at HKD 0.052 per share, raising a total of HKD 13.728 million[39]. - A second share placement was completed on July 27, 2023, issuing 230.7 million shares at HKD 0.078 per share, raising a total of HKD 17.995 million[40]. - The company executed a share consolidation on July 28, 2023, reducing the number of shares from 10 billion to 1 billion, with a new par value of HKD 0.1[40]. - The company plans to conduct a share placement on February 2, 2024, with a maximum of 38.016 million shares at HKD 0.21 per share, expected to raise approximately HKD 4.725 million[40]. - The company has outlined a strategy for market expansion through share placements and acquisitions to enhance its capital structure[39][40]. Governance and Compliance - The board is committed to maintaining high standards of corporate governance and has adhered to all relevant corporate governance codes during the reporting period[77]. - The Audit Committee held four meetings during the reporting period to review financial performance and internal controls, including discussions on accounting principles and financial reporting matters[87]. - The consolidated financial statements as of June 30, 2025, were confirmed to be consistent with the amounts reported by the company[88].
PACIFIC LEGEND(08547) - 2025 - 年度业绩