廖创兴企业(00194) - 2024 - 年度财报

Financial Performance - The profit attributable to owners of the Company for 2023 was a loss of HK$814,937, compared to a profit of HK$86,148 in 2022[9]. - Basic loss per share for 2023 was HK$(2.15), a decline from HK$0.23 in 2022[9]. - The Group recorded a loss of HK$840.4 million for the year ended December 31, 2024, an improvement from a loss of HK$873.1 million in 2023, primarily due to non-cash fair value losses on investment properties[54]. - For the year ended December 31, 2024, the Group recorded a loss of approximately HK$840.4 million, a slight improvement from a loss of HK$873.1 million in the previous year, primarily due to fair value losses on investment properties[56]. - Basic losses per share for 2024 were HK$2.21, compared to HK$2.15 in 2023, reflecting a 3% increase[178]. - For the year ended December 31, 2024, the audited consolidated losses amounted to approximately HK$840.4 million, a reduction of HK$32.7 million compared to the HK$873.1 million loss recorded in 2023[181]. Dividends - The dividend per share for 2023 was HK$0.28, down from HK$0.38 in 2022, with a dividend payout ratio of -13$0.11 per share was paid on 13 September 2024, with a recommended final cash dividend of HK$0.17 per share, totaling HK$0.28 per share for the year[83]. - The total dividend per share remained unchanged at HK$0.28, with a dividend payout ratio of 13$14,997,714, a decrease of 5.3% from 2022[9]. - Total liabilities increased to HK$3,393,130 in 2023, up 6.9$27.83 from HK$30.65, a decline of 9$933,029,000, representing a 27% increase from HK$732,311,000 in 2023[178]. - Total rent received by the Group amounted to HK$302.4 million, a slight increase of 0.1% compared to HK$302.1 million in 2023, with an overall occupancy rate of 83.5$59.7 million for the year ended 31 December 2024, an increase of approximately HK$3.1 million from approximately HK$56.6 million in 2023, with an occupancy rate of 96%[188]. - Chong Hing Bank Centre recorded rental revenue of approximately HK$77.9 million for the year ended 31 December 2024, a decrease of approximately HK$19.2 million from approximately HK$97.1 million in 2023[190]. - The Rockpool generated gross rental revenue of approximately HK$15.5 million for the year ended 31 December 2024, an increase of approximately HK$2.1 million from approximately HK$13.4 million in 2023, with an occupancy rate of 88%[196]. - Fairview Court recorded rental revenue of approximately HK$2.6 million for the year ended 31 December 2024, a decrease of approximately HK$0.5 million from HK$3.1 million in 2023, with an occupancy rate of 80$108.7 million for the year ended 31 December 2024, an increase of approximately HK$6.2 million from HK$102.5 million in 2023, with office space leased at approximately 75% and retail space at 83%[200]. Economic Outlook - The global economy grew by approximately 3.2% in 2024, driven by lower inflation and increased household spending[26]. - The U.S. economy expanded by 2.8% in 2024, with personal consumption advancing by 4.2%[28]. - The Bank of Japan estimated Japan's real GDP growth for fiscal 2024 at 0.5%[34]. - China announced a GDP growth of 5% for 2024, aligning with its official target, driven by strong exports and effective monetary and fiscal stimulus measures[38]. - The Chinese economy is expected to grow by 5% in 2025, with a focus on increasing domestic demand and technological innovations to counteract U.S. tariffs[63]. - The Hong Kong economy is forecasted to grow by 2%–3%, but faces uncertainties due to the U.S. tariff war potentially impacting exports and local consumption[64]. Corporate Governance - The Company intends to comply with the Corporate Governance Code, ensuring directors are subject to retirement by rotation at least once every three years[102]. - The Company has received annual confirmations of independence from all Independent Non-executive Directors[104]. - The Company has substantially complied with the Corporate Governance Code throughout the year ended 31 December 2024[150]. - The Audit Committee is satisfied with the Company's internal control procedures and financial reporting disclosures for the year ended 31 December 2024[144]. - No major internal control weaknesses were found, and all recommendations from auditors were implemented by management in 2024[162]. Strategic Focus - The Group continues to adapt its business model to ensure sustained growth and market resilience despite challenges[183]. - The Group's investment strategy will focus on absolute bargains in both domestic and international business arenas[67]. - The Group plans to adopt a cautious policy regarding acquisitions and disposals due to prevailing uncertainties in the market[67]. - The management is committed to reviewing operations to maintain a strong financial position[183].