Financial Performance - Total revenue for the fiscal year 2024 was HKD 128,526,000, a slight decrease of 0.8% from HKD 129,542,000 in 2023[3]. - The net loss for the fiscal year 2024 was HKD 49,340,000, compared to a net loss of HKD 46,691,000 in 2023, representing an increase in loss of 5.6%[5]. - Adjusted net loss margin for the fiscal year 2024 was (31.5)%, slightly worse than (31.3)% in 2023[3]. - The gross profit margin improved to 46.7% in 2024 from 34.8% in 2023, indicating better cost management[4]. - The company reported a basic and diluted loss per share of HKD 4.9 in 2024, compared to HKD 4.8 in 2023[6]. - The company reported a loss before tax of HKD 49,340,000 for the year ended December 31, 2024, compared to a loss of HKD 46,691,000 in 2023[19]. - The company reported a net loss attributable to shareholders of HKD 46,404,000 in 2024, slightly higher than the loss of HKD 46,206,000 in 2023[28]. - Operating loss increased by approximately 19.5% from about HKD 43.7 million in fiscal year 2023 to approximately HKD 52.2 million in fiscal year 2024[53]. Assets and Liabilities - The total assets decreased to HKD 293,050,000 in 2024 from HKD 348,271,000 in 2023, a decline of 15.9%[7]. - Cash and cash equivalents dropped significantly to HKD 22,985,000 in 2024 from HKD 51,723,000 in 2023, a decrease of 55.6%[7]. - The total liabilities as of December 31, 2024, amounted to HKD 100,135,000, a slight increase from HKD 99,292,000 in 2023[8]. - Non-current liabilities decreased significantly to HKD 10,370,000 from HKD 18,483,000, primarily due to a reduction in lease liabilities[8]. - The total equity attributable to the company's equity holders decreased to HKD 191,570,000 in 2024 from HKD 247,406,000 in 2023, a decline of 22.6%[7]. - The debt-to-asset ratio as of December 31, 2024, is 23.8%, compared to 17.5% on December 31, 2023[64]. Revenue Breakdown - Revenue from licensing services was HKD 43,602,000, down 23% from HKD 56,622,000 in 2023, while design consulting services revenue increased by 33% to HKD 16,468,000 from HKD 12,344,000[17]. - Sales of licensed brand products generated HKD 68,456,000, an increase of 13% compared to HKD 60,576,000 in 2023[17]. - Revenue from character licensing business fell by HKD 8,896,000 or 12.9% from HKD 68,966,000 in 2023 to HKD 60,070,000 in 2024[41][42]. - E-commerce and other business revenue increased by HKD 7,880,000 or 13.0% from HKD 60,576,000 in 2023 to HKD 68,456,000 in 2024[41][44]. - Revenue from mainland China accounted for HKD 121,460,000, a decrease from HKD 123,021,000 in 2023, while revenue from Hong Kong decreased to HKD 2,211,000 from HKD 2,420,000[20]. - Revenue from mainland China accounted for 94.5% of total revenue in 2024, slightly down from 95.0% in 2023[45]. Costs and Expenses - The company incurred a significant increase in promotional costs, rising to HKD 18,426,000 in 2024 from HKD 16,193,000 in 2023, an increase of 13.7%[5]. - Total other income decreased from HKD 15,558,000 in 2023 to HKD 10,412,000 in 2024, a decline of approximately 33.3%[21]. - Employee benefit expenses for the fiscal years 2023 and 2024 were approximately HKD 64.5 million and HKD 64.6 million, accounting for about 35.8% and 35.3% of total operating expenses respectively[48]. - Cost of goods sold for the fiscal years 2023 and 2024 was approximately HKD 39.5 million and HKD 36.5 million, representing about 21.9% and 19.9% of total operating expenses respectively[47]. Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance, with ongoing reviews of compliance with governance codes[90]. - The board of directors includes Chairman and Executive Director Mr. Xu Xiaolin, Executive Directors Mr. Guo Zhenjie and Mr. Zhang Zhanyao, Non-Executive Director Mr. Liang Xingchao, and Independent Non-Executive Directors Ms. Liang Binghuan, Mr. Song Zhiqiang, and Professor Chen Jiayuan[97]. - The audit committee, composed of independent non-executive directors, reviewed the consolidated performance for the fiscal year ending December 31, 2024, ensuring compliance with applicable accounting standards[94]. Future Plans and Strategies - The company plans to continue expanding its e-commerce sales platforms in overseas markets, including Thailand, Indonesia, Vietnam, the Philippines, Malaysia, and Singapore[44]. - The company plans to enhance its IP commercialization ecosystem and aims to become a comprehensive IP operation platform, focusing on various growth points including cultural tourism and cross-border e-commerce[76]. - The company has initiated additional incentive measures to attract new licensees and expand into overseas markets such as Brazil, Russia, and South Africa[42]. - The company plans to launch 3-5 IP-themed games within the next two years, enhancing user engagement through co-creation mechanisms[78]. - The company targets a revenue scale exceeding 1 billion, driven by innovations in retail, cultural tourism, online gaming, and cross-border strategies[83]. Shareholder Information - The company has not proposed a final dividend for the year ending December 31, 2024[31]. - The company did not recommend any final dividend for the fiscal year 2024, compared to HKD 0.05 per share for the fiscal year 2023[92]. - A total of HKD 9,666,225 was spent to purchase 8,244,000 shares for the share incentive plan as of December 31, 2024[89].
小黄鸭德盈(02250) - 2024 - 年度业绩