Key points
- Revenue down 34% to $1,734,051
- Loss after tax up 22% to $3,826,698
- Net tangible assets per share at 8.06 cents
- Occupancy rate expected to improve in 2025
Full summary
CAQ Holdings Ltd reported a 34% decline in revenue to $1,734,051 for the year ended 31 December 2024. The loss after tax increased by 22% to $3,826,698, mainly due to higher finance costs and deferred tax expenses. The company's leasing business generated revenue of $1,729,887, while the jewellery business contributed $4,164. The occupancy rate is expected to maintain an upward trend in 2025, as the company continues to secure new tenants for vacant areas. The exhibition centre's system integration testing remains suspended pending the release of new government customs requirements. The company is closely monitoring the development of the Hainan free trade port policies, which could potentially drive higher interest in leasing the company's assets. However, the final policy directives remain uncertain, which may result in timing delays for increased revenue inflows.