v3.25.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
HKD ($)
Dec. 31, 2023
HKD ($)
Dec. 31, 2022
HKD ($)
Operating activities        
Net income (loss) $ (1,993) $ (15,482,000) $ (1,462,000) $ 8,653,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation 65 505,000 506,000 702,000
Amortization of right to use assets 879 6,824,000 5,410,000 4,862,000
Interest on lease liabilities 47 368,000 313,000 469,000
(Gain) loss on disposal of property, plant and equipment 1,000 (12,458,000)
Change in operating assets and liabilities:        
Change in accounts receivable (754) (5,856,000) 789,000 10,228,000
Change in inventories 255 1,981,000 1,475,000 4,217,000
Change in prepaid expenses and other current assets 279 2,166,000 2,526,000 (2,977,000)
Change in accounts payable (523) (4,060,000) 5,073,000 (2,253,000)
Change in other payables and accrued liabilities (110) (858,000) 1,398,000 267,000
Payments on lease (893) (6,935,000) (6,301,000) (6,015,000)
Net cash provided by (used in) operating activities (2,748) (21,347,000) 9,728,000 5,695,000
Investing activities        
Purchase of property, plant and equipment (52) (405,000) (284,000) (554,000)
Net cash used in investing activities (52) (405,000) (284,000) (554,000)
Financing activities        
Proceeds from issuance of ordinary shares 267 2,076,000 26,003,000
Advances (to) from related parties 83 643,000 (2,704,000) 5,034,000
Net cash provided by financing activities 350 2,719,000 23,299,000 5,034,000
Net increase (decrease) in cash (2,450) (19,033,000) 32,743,000 10,175,000
Effect on exchange rate change on cash 21 167,000 (254,000) (318,000)
Cash as of beginning of the year 5,966 46,342,000 13,853,000 3,996,000
Cash as of the end of the year 3,537 27,476,000 46,342,000 13,853,000
Supplementary Cash Flows Information        
Cash paid for interest 108 837,000 1,708,000 1,581,000
Cash paid (refund) for taxes (34) (260,000) (196,000) 3,492,000
Supplemental schedule of non-cash investing and financing activities:        
Dividend made by addition to the amount due to related parties (10,000,000)
Consideration for the sale of property to the shareholder settled by deduction from the amount due to the related parties $ 13,880,000