v3.25.1
Right-of-use assets and operating lease liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Right-of-use Assets And Operating Lease Liabilities  
Schedule of non-cancellable lease contracts

As of December 31, 2024, the Company had the following non-cancellable lease contracts:

 

Description of lease   Term  

Imputed interest rate

  
           
Director’s quarters, Kowloon, Hong Kong   24 months from May 1, 2023 to April 30, 2025     5.6 %
Office, Kowloon, Hong Kong   24 months from January 1, 2025 to December 31, 2026     5.6 %
Production plant and administration facility, Shenzhen, PRC   3 years from July 16, 2024 to July 15, 2027     3.45 %
Schedule of condensed balance sheet

The following amounts were recognized in the consolidated balance sheets:

 

   December 31, 2023   December 31, 2024   December 31, 2024 
   HK$’000   HK$’000   US$’000 
Right-of-use assets   3,801    15,295    1,969 
                
Operating lease liabilities               
Current   4,060    5,822    750 
Non-current   198    9,482    1,221 
Total   4,258    15,304    1,971 
Schedule of condensed consolidated statement of income and cash flow

A summary of lease costs recognized in the Company’s consolidated statements of income and supplemental cash flow information relating to the operating leases is as follows:

 

   2023   2024   2024 
   For the year ended December 31 
   2023   2024   2024 
   HK$’000   HK$’000   US$’000 
Amortization charge of right-of use assets   5,410    6,824    879 
Right-of-use assets obtained in exchange for operating lease liabilities   -    17,604    2,260 
Interest on lease liabilities   313    368    47 
Cash paid for operating leases   6,301    6,935    893 
Schedule of future undiscounted lease payments

Future undiscounted lease payments as of December 31, 2024 are as follows:

 

Year ending December 31  HK$’000   US$’000 
2025   6,240    803 
2026   6,234    803 
2027   3,492    450 
           
Future minimum operating lease payments   15,966    2,056 
Less: Imputed interest   (662)   (85)
           
Total operating lease liabilities   15,304    1,971