To Our Shareholders,
I am pleased to present to our shareholders the annual report of Matrix Holdings Limited (the “Company”) and its subsidiaries (collectively the “Group”) for the financial year ended 31 December 2024.
In 2024, the Group’s consolidated revenue decreased by approximately HK$257,627,000 or 36.1%, amounting to approximately HK$456,859,000 compared to HK$714,486,000 in the previous year. The loss attributable to the owners of the Company was approximately HK$298,573,000, reflecting an increase of 191.0% from last year’s loss of approximately HK$102,604,000.
In 2024, facing global economic uncertainty and escalating geopolitical tensions, investments and economic growth were significantly impacted. The United States experienced a volatile economic and political environment, leading to notable changes in consumer attitudes and behaviors. The U.S. market was further affected by slowing real wage growth, the depletion of excess savings, and increasing credit card debt, all of which collectively eroded consumer confidence and led consumers to adopt more cautious consumption habits and therefore weakened consumer spending. Despite some easing of inflation, consumer debt continued to influence spending habits, causing consumers to be more selective in discretionary spending. Additionally, intense competition among manufacturers may limit market share and growth. To maintain our market position, the Group will focus on continuously improving operational efficiency and optimizing its organizational structure, emphasizing innovative products, marketing strategies, and internal efficiency improvements, while continuing to employ a consumer-centric strategy. By strengthening our core strengths and adapting to the rapidly evolving market, we are focused on achieving growth despite current challenges.
Furthermore, I would like to highlight the importance of Environmental, Social, and Governance (ESG) considerations for the Group’s long-term sustainability. The Board of Directors and management have fully incorporated ESG principles into the Group’s mission and daily activities. For a comprehensive overview of our performance in these areas, please refer to the ESG Report, which can be found on pages 31 to 45.
Finally, I would like to extend my heartfelt gratitude to all our stakeholders including shareholders, customers, business partners, and suppliers for their unwavering support and trust in the Group’s activities. I also wish to thank the management team and all staff members for their invaluable contributions and commitment to our success.
Cheng Yung Pun
Chairman
Hong Kong, 26 March 2025
