中国长远(00110) - 2024 - 年度财报

Business Diversification and Strategy - The Group has diversified its business by tapping into eco-friendly bag automatic bag taking machines and database traffic monetization from its mobile application business in 2021[6]. - The Group is actively exploring opportunities to diversify its business and enhance shareholder value, focusing on areas such as artificial intelligence, big data, mobile phone operating systems, and mobile internet[54]. - The Group aims to diversify its business by exploring opportunities in eco-friendly products and database traffic monetisation[60][64]. - The company aims to enhance its competitive edge by focusing on technological advancements and market diversification[188]. - The company is committed to maintaining a robust financial position and efficient operations while exploring new business initiatives to drive growth[195]. Financial Performance - The Group's revenue for the year ended 31 December 2024 decreased by approximately 46.5% to HK$43.6 million compared to HK$81.5 million in 2023[55][68]. - Loss for the year increased to HK$33.7 million from a loss of HK$15.1 million in 2023, primarily due to losses on the disposal of subsidiaries and fair value losses on financial assets[55][58]. - The Group experienced net losses of HK$3.2 million in 2024, primarily due to fair value losses on financial assets and inventory impairment[76]. - The Group reported a net loss of approximately HK$31.5 million for the year ended 31 December 2024, compared to a net loss of approximately HK$12.6 million for the previous year, representing an increase in loss of 150$1.1 million in 2024 from HK$2.3 million in 2023, mainly due to a decline in database traffic monetisation[75][79]. Shareholder and Management Structure - China Fortune Holdings Limited has a strong shareholder background and a well-operational and professional management team[5]. - The corporate culture emphasizes the integration of Western and Eastern management philosophies, aiming to build a "Continuous Learning Enterprise"[7]. - The company is focused on human-centric enterprise values, promoting teamwork among staff to achieve corporate goals[7]. Market Opportunities and Trends - The mobile phone service market in China has approximately 1.8 billion subscribers, with intense competition among manufacturers and mobile carriers[157]. - By the end of 2024, telecom operators in the PRC are projected to deploy approximately 4.2 million 5G base stations, with over 950 million mobile phone users expected to adopt 5G services, representing more than 65$11.7 million as of December 31, 2024, from HK$28.0 million as of December 31, 2023[114]. Capital and Investment Activities - A HK$160 million syndicated loan was successfully arranged[36]. - The acquisition of 51% shareholdings of Synergy Pacific was completed[37]. - The Group completed the acquisition of 50.8% interest in Sifa Mining, which has the right to conduct mining activities in Hubei Province, PRC[22]. - The company completed the sale of 100% equity in China Huangshi Group for a total consideration of HK$100,000 on December 23, 2024, marking the termination of its mining business[133]. Future Projections and Plans - The Group plans to actively seek market opportunities and expand revenue sources in 2025 despite concerns over consumer spending power due to the global economic recession[62][64]. - The company plans to leverage the advancements in 5G technology to enhance customer experiences and support smart devices and applications[186]. - The company anticipates sales of approximately 50,000 units of the "Philips" router between 2024 and 2025, with an expected gross margin of around 10%[176].