Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 16,206,839, a decrease of 29.8% compared to HKD 23,088,446 in 2023[4] - The gross profit for the year was HKD 1,977,697, down from HKD 3,601,886, reflecting a significant decline in profitability[4] - The net loss for the year was HKD 28,695,979, compared to a net loss of HKD 36,727,040 in the previous year, indicating an improvement in loss by 21.5%[4] - The group reported a pre-tax loss of HKD 28,688,321 for the year[26] - The group’s annual loss decreased from approximately HKD 36.7 million for the year ended December 31, 2023, to approximately HKD 28.7 million for the year ended December 31, 2024[73] Assets and Liabilities - Total assets decreased from HKD 40,129,961 in 2023 to HKD 14,079,710 in 2024, a reduction of 64.9%[6] - The company's cash and cash equivalents dropped from HKD 11,116,565 in 2023 to HKD 5,758,476 in 2024, a decline of 48.3%[6] - The total equity decreased from HKD 39,692,704 in 2023 to HKD 13,802,489 in 2024, a decrease of 65.2%[7] - Current liabilities increased from HKD 10,470,082 in 2023 to HKD 16,925,551 in 2024, an increase of 61.8%[6] - As of December 31, 2024, the company's net current liabilities amounted to HKD 4,439,524, indicating significant uncertainty regarding its ability to continue as a going concern[13] Revenue Breakdown - Machine rental income decreased to HKD 5,333,709 from HKD 9,910,419, representing a decline of 46.6%[23] - Lending business revenue increased to HKD 818,932 from HKD 420,000, showing a growth of 95.0%[23] - Total sales of machinery, tools, and parts dropped to HKD 787,446 from HKD 3,981,456, a decrease of 80.2%[23] - Construction service revenue was HKD 7,749,283, slightly down from HKD 7,964,271, a decrease of 2.7%[23] - Transportation and other services revenue fell significantly to HKD 46,000 from HKD 812,300, a decline of 94.3%[23] Operational Measures - The company is implementing plans and measures to enhance cost control and improve operational efficiency to boost profitability and cash flow[17] - The company continues to explore fundraising activities as necessary to support its operations[17] - The board believes that the company will have sufficient working capital to meet its financial obligations for at least the next twelve months[14] Financial Reporting Standards - The financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards[11] - The group has adopted the Hong Kong Financial Reporting Standard No. 15 for revenue recognition, impacting the reporting of construction service contracts[23] - The board is currently assessing the impact of the new and revised Hong Kong Financial Reporting Standards on the consolidated financial statements[19][21] - The new Hong Kong Financial Reporting Standard No. 18 introduces significant changes to the presentation of financial statements, enhancing comparability and transparency[20] Shareholder Information - No dividends were declared or proposed for the year ended December 31, 2024, consistent with the previous year[35] - The company completed a placement of 172,800,000 shares at a price of HKD 0.01764 per share, raising a net amount of HKD 3,002,210 after deducting direct costs[44] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website, with the annual report for the year ending December 31, 2024, to be sent to shareholders in due course[88] Governance and Compliance - The board of directors includes several executive and independent non-executive directors, ensuring a diverse governance structure[91] - The announcement complies with GEM listing rules, confirming the accuracy and completeness of the information provided[92] - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date[93]
维亮控股(08612) - 2024 - 年度业绩