Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of $6,394,000, a decrease of 12.9% compared to $7,338,000 in 2023[2] - Gross profit increased to $2,904,000, reflecting a growth of 15.1% from $2,524,000 in the previous year[2] - Operating income improved significantly to $156,000, a turnaround from an operating loss of $2,531,000 in 2023, marking a 106.2% change[2] - The company reported a net loss of $9,459,000, a substantial reduction of 87.4% from a loss of $74,968,000 in the prior year[2] - The total loss for the year was $9,459,000, compared to a loss of $74,968,000 in the previous year, indicating a significant improvement[15] - The company recorded a net loss of approximately $9.5 million for the year ending December 31, 2024, compared to a loss of about $75.0 million in 2023[40] - Revenue for the year was approximately $6.4 million, a decrease of about $0.9 million from $7.3 million in 2023, primarily due to a decline in trade business related to AI products[41] - Basic and diluted loss per share improved from $(0.80) in 2023 to $(0.10) in 2024, based on a weighted average of 89,619,494 shares[25] Assets and Liabilities - Total assets decreased by 18.7% to $36,393,000 from $44,785,000 in 2023[2] - Total liabilities increased by 9.2% to $12,734,000 compared to $11,666,000 in the previous year[2] - The company's net asset value decreased by 28.6% to $23,659,000 from $33,119,000 in 2023[2] - The CMMB business segment's assets decreased from $26,378,000 in 2023 to $19,594,000 in 2024, a decline of 25.7%[16] - The trading business segment's assets also decreased from $1,188,000 in 2023 to $892,000 in 2024, a decline of 25%[16] - The total liabilities increased from $11,666,000 in 2023 to $12,734,000 in 2024, an increase of 9.1%[16] - Current assets were approximately $7.3 million as of December 31, 2024, down from $10.0 million in 2023, including cash and bank balances of about $0.9 million[52] - The company's current liabilities increased to approximately $3.1 million as of December 31, 2024, compared to $2.7 million in 2023, with trade and other payables around $1.5 million[53] Impairment and Losses - Impairment losses on intangible assets were significantly reduced to $4,817,000, down 76.2% from $20,224,000 in the previous year[2] - The company recognized impairment losses of $4,402,000 under the expected credit loss model for the year[15] - The company reported an impairment loss of approximately $4.8 million for intangible assets for the year ended December 31, 2024, compared to $20.2 million in 2023, due to a decrease in the recoverable amount of cash-generating units[50] Revenue Segments - The CMMB business segment reported a revenue of $3,481,000, while the trading business segment generated $2,913,000[15] - Revenue from external customers in the United States was $3,468,000, up from $2,304,000 in 2023, representing a growth of 50.5%[21] - Revenue from Taiwan decreased from $3,591,000 in 2023 to $2,913,000 in 2024, a decline of 19%[21] Corporate Governance and Compliance - The company has adopted a revised code of conduct for directors' securities trading, ensuring compliance with listing rules[70] - The audit committee has reviewed the group's annual performance and financial statements for the year ending December 31, 2024, in collaboration with the auditors[71] - The group's auditors confirmed that the preliminary announcement aligns with the audited financial statements for the year ending December 31, 2024[72] - The company has adopted corporate governance codes to ensure proper oversight of business activities and decision-making processes[73] - The board believes that good corporate governance is key to protecting shareholder interests and enhancing group performance[73] - The board will regularly review the effectiveness of the current governance structure, particularly regarding the roles of the chairman and CEO[73] Operational Developments - The company is engaged in developing multimedia and interactive services through proprietary ground infrastructure, focusing on mobile television and multimedia broadcasting[7] - The company is currently evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18 on the presentation and disclosure of its consolidated financial statements[12] - The company is actively exploring new business opportunities and diversifying its revenue sources to enhance shareholder returns[63] - The company plans to leverage the growing demand for high-quality printed circuit boards and AI-related products driven by the rise of IoT and smart devices[66] - The company is prepared to capitalize on the trend of increasing demand for interactive digital television content as viewer habits shift towards smartphones[66] - LPTV television stations are expanding into underserved markets, creating new revenue opportunities due to technological advancements[67] - The development of satellite multimedia services is driven by technological progress and increasing connectivity demands, particularly in remote areas with weak infrastructure[68] - The integration of satellite connectivity into automotive multimedia systems enhances safety and user experience, aligning with broader trends in connected and autonomous vehicles[69] Shareholder Matters - The company completed a share consolidation, merging every 20 existing shares into one share with a par value of HKD 4.00, effective from October 10, 2024[31] - The total issued and paid-up share capital as of December 31, 2024, was 89,619,494 shares, with a total value of $896,000[29] - The company did not recommend any final dividend for the year ending December 31, 2024, consistent with 2023[34] - The company entered into a subscription agreement to issue 5,700,000 shares at a subscription price of HKD 0.85 per share, totaling approximately HKD 4,845,000, completed on February 24, 2025[35] Employee and Cost Management - The average number of employees decreased to approximately 17 for the year ended December 31, 2024, from 22 in 2023, with employee costs around $0.6 million[61] - Administrative expenses decreased significantly from approximately $3.0 million in 2023 to about $0.9 million in 2024 due to cost control measures[44] - Financial costs reduced from $862,000 in 2023 to $731,000 in 2024, with interest expenses on convertible bonds decreasing from $835,000 to $722,000[22]
中播数据(00471) - 2024 - 年度业绩