Courage Investment Group Limited, a Hong Kong-based investment holding company, has released its annual report for the year ended December 31, 2024. The report highlights the company’s improved financial performance, with a revenue increase of 8% to $9,183,000 and a profit attributable to owners of the company of $1,706,000, compared to a loss of $3,974,000 in 2023.
Key Financial Highlights
Revenue: $9,183,000 (2023: $8,512,000)
Profit attributable to owners of the company: $1,706,000 (2023: loss of $3,974,000)
Basic earnings per share: $0.16 cent (2023: basic loss per share of $0.36 cent)
Business Review
The company’s marine transportation business showed significant improvement, with revenue increasing by 9% to $9,183,000 and profit increasing by 39% to $3,097,000. The growth was primarily driven by the global economic recovery, which boosted demand for dry bulk commodities, and the Red Sea Crisis, which further exacerbated the global shortage of shipping capacity.
Important Events
On September 13, 2024, the company entered into an agreement for the disposal of its entire issued share capital of and shareholder’s loan to an indirect wholly-owned subsidiary, with a disposal price of $13,800,000. The disposal was completed on November 25, 2024.
Subsequent to the end of the reporting period, China Mark Limited, a limited company incorporated in Hong Kong, became the immediate and ultimate holding company of the company.
The company’s Board of Directors has resolved not to declare a final dividend for the year ended December 31, 2024.
As of December 31, 2024, the company’s distributable reserve was $17,772,000, available for distribution to shareholders.
Risk Factors
The company’s marine transportation business is exposed to various risks, including fluctuations in demand and supply of vessels, tightened sanctions regulations and trade restrictions, and geopolitical crises.
The company’s investment holding business is exposed to financial risks, including foreign currency, interest rate, credit, and liquidity risks.
Outlook
The company’s management remains cautious about the future prospects of the marine transportation business, citing uncertainties in the global economic conditions and the state of international financial and investment markets.
Disclaimer
This article is for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities. Investors should do their own research and consult with a financial advisor before making any investment decisions. The information contained in this article may not be accurate or up-to-date, and investors should verify the information with the company or other reliable sources.
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