Financial Performance - The company's revenue for the year ended December 31, 2024, increased by 24.1% to HKD 27,757 million, compared to HKD 22,371 million in 2023[11] - The profit attributable to shareholders rose by 24.1% to HKD 501.2 million, up from HKD 403.8 million in the previous year[11] - Basic earnings per share increased to HKD 80.09 from HKD 64.52, reflecting a growth of 24.1%[11] - The gross profit for the year was HKD 1,430 million, an increase of 8.6% from HKD 1,316 million, with a gross margin of 5.2% compared to 5.9% in the previous year[19] - The company reported a total comprehensive income of HKD 643,612 thousand for 2024, up from HKD 577,483 thousand in 2023[136] - Net profit for the year was HKD 672,491 thousand, representing a 15% increase from HKD 585,673 thousand in 2023[134] - The company reported a profit of HKD 403,801,000 for the year, contributing to total comprehensive income of HKD 399,225,000[140] Dividends and Shareholder Returns - The total dividend for the year is proposed at HKD 40.00 per share, an increase of 14.3% from HKD 35.00 in 2023, including a mid-term dividend of HKD 15.00[20] - The board proposed a final dividend of HKD 0.25 per share to shareholders listed on the register as of May 28, 2025[75] - The company has adopted a dividend policy prioritizing cash distributions to shareholders, subject to board discretion and shareholder approval[76] - The company paid dividends totaling HKD 250,335,000 in 2024, compared to HKD 219,043,000 in 2023[144] Market and Industry Trends - Sales revenue from the components team reached HKD 27,610 million, a 24.3% increase from HKD 22,210 million in the previous year, driven by demand for smartphones and consumer electronics[21] - The global smartphone shipment is projected to rebound by 6% to 1.24 billion units in 2024, following two years of decline, driven by emerging markets and aggressive supplier strategies[22] - The consumer electronics market is expected to experience transformative growth in 2024, driven by demand for AI-optimized smart home ecosystems and advanced electric vehicle control interfaces[23] Cash Flow and Financial Position - The group achieved a net operating cash inflow of HKD 552,809,000 for the year, a decrease from HKD 1,039,637,000 in the previous year[33] - The current ratio as of December 31, 2024, is 128%, slightly down from 135% in 2023[33] - The group has a net cash position of approximately HKD 736,368,000, an increase from HKD 651,780,000 in 2023[33] - Cash and cash equivalents surged from HKD 1,580,146,000 in 2023 to HKD 2,927,070,000 in 2024, marking an increase of about 85.2%[137] - The total cash and cash equivalents at the end of 2024 were HKD 2,927,070,000, up from HKD 1,580,146,000 at the end of 2023[144] Governance and Management - The company continues to adhere to high standards of corporate governance, believing it is key to business development and protecting shareholder interests[46] - The board currently consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors[47] - The company has been compliant with the Hong Kong Stock Exchange's corporate governance code, with some deviations noted[46] - The company has appointed new executive directors in 2024, indicating a strategic shift in leadership[45] - The company is committed to maintaining transparency and accountability in its operations, as reflected in its governance practices[46] Risk Management - The group remains focused on cash flow management amid geopolitical tensions affecting the semiconductor industry, particularly between China and the U.S.[29] - The company faces various risks, including exchange rate risk, interest rate risk, credit risk, and liquidity risk, which are monitored closely[89] Sustainability and Corporate Responsibility - The company is committed to sustainable development, integrating environmental, social, and governance issues into its business operations[30] - The company is committed to environmental responsibility, utilizing LED lighting and eco-friendly materials in its operations[84] - The group made charitable donations of approximately HKD 2,783,000 during the year[115] Inventory and Asset Management - The carrying amount of inventory was HKD 3,061,620,000, with a provision for inventory of HKD 132,935,000, representing 30% of the group's total assets[124] - The management reviews inventory on a product-by-product basis to identify obsolete and slow-moving items[124] - Inventory increased significantly from HKD 1,780,168,000 in 2023 to HKD 3,061,620,000 in 2024, representing a growth of about 72.0%[137] Financial Reporting and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly present the group's financial position as of December 31, 2024[121] - The company confirmed compliance with the disclosure requirements under Chapter 14A of the Listing Rules[111] - The group’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards[180] Supplier and Customer Relationships - The largest supplier accounted for 68.6% of total procurement, while the top five suppliers represented 83.1% of total procurement[79] - The largest customer contributed 50.8% to total sales, and the top five customers accounted for 63.3% of total sales[80] - The company emphasizes maintaining close relationships with customers and suppliers to meet their current and long-term needs[88]

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 27,757 million, representing a 24.1% increase from HKD 22,371 million in 2023[3] - Profit attributable to owners of the company was HKD 501.2 million, up 24.1% from HKD 403.8 million in the previous year[3] - Basic earnings per share increased to HKD 80.09, a rise of 24.1% compared to HKD 64.52 in 2023[3] - Total revenue for the year 2024 reached HKD 27,756,985,000, a 24% increase from HKD 22,370,616,000 in 2023[14] - Revenue from the sale of electronic components and semiconductor products was HKD 27,610,087,000, up from HKD 22,206,540,000, representing a 24% growth[14] - The group’s revenue increased by 24.1% to HKD 27,756,985,000 for the year ending December 31, 2024, compared to HKD 22,370,616,000 in the previous year[39] - Net profit attributable to shareholders increased by 24.1% to HKD 501,237,000, with basic earnings per share at HKD 0.8009, up from HKD 0.6452 in 2023[39] Dividends - Total dividend for the year was HKD 40.00 per share, reflecting a 14.3% increase from HKD 35.00 in 2023[3] - The company declared an interim dividend of HKD 0.15 per share for 2024, compared to HKD 0.10 per share in 2023, marking a 50% increase[30] - The company plans to distribute a final dividend of HKD 0.25 per share for the year ending December 31, 2024, pending shareholder approval[30] Assets and Liabilities - Current assets increased significantly to HKD 9,154,134 thousand from HKD 6,580,292 thousand in 2023[6] - Total liabilities increased to HKD 7,154,103 thousand from HKD 4,872,046 thousand in 2023, indicating a rise in financial obligations[6] - The company's net asset value increased to HKD 3,083,874 thousand from HKD 2,828,886 thousand in 2023[7] - Total non-current assets decreased to HKD 1,080,048,000 in 2024 from HKD 1,233,767,000 in 2023, a decline of 12.5%[16] - Trade payables increased to HKD 3.84 billion in 2024 from HKD 2.94 billion in 2023, reflecting a growth of 30.5%[27] - Total trade and other receivables amounted to HKD 1.37 billion in 2024, compared to HKD 983.05 million in 2023, representing a 39.2% increase[23] Cash Flow - Cash and cash equivalents rose to HKD 2,927,070 thousand, up from HKD 1,580,146 thousand in the previous year[6] - The company’s cash flow from operating activities improved, with trade receivables at HKD 1.26 billion after accounting for credit loss provisions, compared to HKD 839.38 million in 2023[25] - Operating cash inflow for the year was HKD 551,544,000, a decrease from HKD 1,039,637,000 in the previous year[40] - The group recorded a net cash position of approximately HKD 736,368,000 as of December 31, 2024, up from HKD 651,780,000 the previous year[40] Market and Industry Outlook - The company continues to focus on the distribution of electronic components and semiconductor products, as well as property investment[8] - The company anticipates continued growth in the electronic components sector, driven by increased demand in the market[14] - The semiconductor industry is expected to face complexities due to geopolitical tensions, but demand for next-generation AI smartphones and PCs presents growth opportunities[38] - The group plans to maintain a cautious approach and focus on cash flow management to remain competitive in the Greater China region[38] Other Financial Metrics - Gross profit for the year was HKD 1,430,087 thousand, compared to HKD 1,316,411 thousand in 2023, indicating a positive trend[4] - Gross profit rose by 8.6% to HKD 1,430,087,000, with a gross margin of 5.2%, down from 5.9% the previous year[39] - Employee costs totaled HKD 170,135,000, slightly down from HKD 181,356,000 in the previous year[20] - The fair value of trade receivables measured at fair value through other comprehensive income decreased to HKD 1.60 billion in 2024 from HKD 2.10 billion in 2023[26] - The company’s credit loss provision decreased to HKD 10.38 million in 2024 from HKD 14.29 million in 2023, indicating improved credit quality[23] Corporate Governance - The consolidated financial statements for the year ending December 31, 2024, have been approved by the board on March 27, 2025[49] - Deloitte has conducted the audit of the group's financial statements but did not provide a verification conclusion for the preliminary announcement[49] - The board expresses gratitude to all employees for their contributions and efforts[50] - The board also thanks shareholders, customers, suppliers, and business partners for their long-term support and trust[50] - The board consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors[51]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 13,639,486 thousand, representing a 46.9% increase compared to HKD 9,283,390 thousand in 2023[3] - Profit attributable to owners of the company for the same period was HKD 330,288 thousand, up 21.7% from HKD 271,351 thousand in 2023[4] - Basic earnings per share increased to HKD 52.78, a rise of 21.7% from HKD 43.36 in the previous year[6] - Gross profit for the six months was HKD 804,243 thousand, compared to HKD 700,456 thousand in 2023, indicating a positive trend[4] - Total comprehensive income for the period was HKD 442,720 thousand, compared to HKD 403,233 thousand in the previous year[5] - The company reported a total comprehensive income of HKD 3,257,220,000 for the six months ended June 30, 2024, compared to HKD 2,591,413,000 for the same period in 2023, indicating an increase of approximately 25.7%[10] - The company reported a profit of HKD 330,288,000 for the period, compared to HKD 271,351,000 in the same period last year, marking a growth of 21.7%[26] Dividends and Shareholder Returns - The interim dividend per share was raised to HKD 15.00, reflecting a 50.0% increase from HKD 10.00 in 2023[3] - The company plans to distribute an interim dividend of HKD 0.15 per share, up from HKD 0.10 per share in 2023[34] Assets and Liabilities - Non-current assets as of June 30, 2024, included investment properties valued at HKD 662,660 thousand, unchanged from December 31, 2023[7] - Current assets included inventories of HKD 2,052,555 thousand, an increase from HKD 1,780,168 thousand in 2023[8] - Cash and cash equivalents decreased to HKD 1,041,839 thousand from HKD 1,580,146 thousand in the previous year[8] - As of June 30, 2024, the total assets amounted to HKD 4,421,366,000, a decrease from HKD 4,872,046,000 as of December 31, 2023, representing a decline of approximately 9.2%[9] - The company reported a total equity of HKD 2,935,147,000 as of June 30, 2024, up from HKD 2,828,886,000 at the end of 2023, reflecting an increase of approximately 3.8%[9] - The company’s total liabilities increased to HKD 1,820,982,000 as of June 30, 2024, compared to HKD 1,708,246,000 at the end of 2023, representing an increase of approximately 6.6%[9] - The company’s retained earnings stood at HKD 2,236,349,000 as of June 30, 2024, compared to HKD 2,351,241,000 at the end of 2023, showing a decrease of approximately 4.9%[10] - The company’s non-controlling interests decreased to HKD 123,762,000 as of June 30, 2024, down from HKD 191,487,000 at the end of 2023, reflecting a decline of approximately 35.3%[9] Cash Flow and Financing - The net cash flow from operating activities for the six months ended June 30, 2024, was a negative HKD 898,414,000, compared to a positive HKD 2,371,858,000 for the same period in 2023, indicating a significant decrease in operational cash flow[11] - The financing activities generated a net cash inflow of HKD 365,518,000 for the six months ended June 30, 2024, down from HKD 720,686,000 in the same period of 2023, indicating a decline of about 49%[11] - The cash and cash equivalents decreased to HKD 1,041,839,000 as of June 30, 2024, down from HKD 4,560,907,000 at the end of June 2023, marking a decline of about 77%[11] - The group recorded a net operating cash outflow of HKD 898,414,000 for the six months ended June 30, 2024, compared to a net inflow of HKD 2,371,858,000 in the same period last year[44] Revenue Sources - Customer contract revenue reached HKD 13,630,638,000, up 47.5% from HKD 9,272,878,000 in the previous year[19] - Sales of electronic components and semiconductors amounted to HKD 13,569,461,000, a significant increase from HKD 9,207,622,000, representing a growth of 47.5%[15] - Major customer A contributed HKD 6,684,525,000 to revenue, up from HKD 3,709,691,000, representing an increase of 80.5%[20] - The company incurred tax expenses of HKD 82,614,000, compared to HKD 75,525,000 in the previous year, an increase of 9.1%[21] - Other income for the period was HKD 26,086,000, down from HKD 34,627,000, reflecting a decrease of 24.8%[24] Operational Metrics - The company’s trade receivables decreased to HKD 752,508,000 as of June 30, 2024, from HKD 839,379,000 as of December 31, 2023[29] - The total amount of trade and other receivables was HKD 849,663,000, down from HKD 983,047,000 in the previous period[29] - The company’s major customers accounted for 66.1% of total revenue, an increase from 61.5% as of December 31, 2023[31] - The accounts receivable turnover period was approximately 39 days, up from 32 days in the previous year[44] - The inventory turnover period was approximately 29 days, down from 52 days in the previous year, while the average accounts payable turnover period was 22 days, down from 77 days[44] Market Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company anticipates challenges from ongoing trade tensions between the US and China, low demand visibility, currency fluctuations, and high interest rates[42] Compliance and Governance - The audit committee reviewed the accounting principles, internal controls, and risk management for the six months ended June 30, 2024[58] - The company has adopted the standard code for securities trading by directors as per the listing rules, confirming compliance by all directors for the six months ending June 30, 2024[59] Employee and Shareholder Information - The group employed approximately 450 employees in the Greater China region, ensuring competitive compensation and benefits[47] - The major shareholder, Hon Hai Precision Industry Co., Ltd., held 124,000,000 shares, representing 19.81% of the issued share capital[53] New Developments - The company has a 46.3% stake in the newly appointed subsidiary, Shiteng Technology, which will be consolidated into the company's financial statements from July 1, 2024[60] - The group has considered entering into foreign exchange forward contracts to hedge against foreign currency risks related to payables[45]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 13,639,486 thousand, representing a 46.9% increase from HKD 9,283,390 thousand in the same period of 2023[1] - Profit attributable to owners of the company for the same period was HKD 330,288 thousand, up 21.7% from HKD 271,351 thousand in 2023[1] - Basic earnings per share increased to HKD 52.78, a rise of 21.7% compared to HKD 43.36 in the previous year[1] - Gross profit for the six months was HKD 804,243 thousand, compared to HKD 700,456 thousand in the same period last year[2] - The company reported a pre-tax profit of HKD 524,701 thousand, an increase from HKD 459,431 thousand in the previous year[2] - Total comprehensive income for the period was HKD 442,720 thousand, compared to HKD 403,233 thousand in 2023[3] - For the six months ended June 30, 2024, total revenue reached HKD 13,639,486,000, a significant increase from HKD 9,283,390,000 in the same period of 2023, representing a growth of approximately 46.5%[7][13] - Sales of electronic components and semiconductors amounted to HKD 13,569,461,000, up from HKD 9,207,622,000 in 2023, indicating a growth of about 47.5%[7][10] - The major customer contributed HKD 6,684,525,000 in revenue for the six months ended June 30, 2024, compared to HKD 3,709,691,000 in 2023, reflecting an increase of approximately 80.5%[14] - The company reported a profit of HKD 330,288,000 for the six months ended June 30, 2024, compared to HKD 271,351,000 in the same period of 2023, representing a growth of approximately 21.7%[20] - Basic earnings per share for the six months ended June 30, 2024, were HKD 0.528, compared to HKD 0.433 in 2023, marking an increase of about 22%[20] Dividends and Shareholder Returns - The interim dividend per share was declared at HKD 15.00, reflecting a 50.0% increase from HKD 10.00 in 2023[1] - The company plans to distribute an interim dividend of HKD 0.15 per share, compared to HKD 0.10 per share in 2023[25] Assets and Liabilities - Current assets as of June 30, 2024, totaled HKD 6,242,348 thousand, down from HKD 6,580,292 thousand at the end of 2023[4] - Current liabilities decreased to HKD 4,421,366 thousand from HKD 4,872,046 thousand at the end of 2023[4] - Net assets attributable to owners of the company increased to HKD 2,811,385 thousand from HKD 2,637,399 thousand at the end of 2023[4] - The company’s trade receivables amounted to HKD 849,663,000 as of June 30, 2024, down from HKD 983,047,000 as of December 31, 2023[22] - The company’s total liabilities were not significantly impacted by the application of the revised Hong Kong Financial Reporting Standards during the interim period[6] Operational Metrics - The company incurred tax expenses of HKD 82,614,000 for the six months ended June 30, 2024, compared to HKD 75,525,000 in 2023, an increase of about 9.1%[15] - The depreciation of property, plant, and equipment was HKD 14,243,000 for the six months ended June 30, 2024, down from HKD 19,698,000 in 2023, a decrease of approximately 27.7%[17] - The company’s interest income from bank deposits decreased to HKD 8,142,000 in 2024 from HKD 25,234,000 in 2023, a decline of approximately 67.7%[17] - The group recorded a net cash outflow from operating activities of HKD 898,414,000 for the six months ended June 30, 2024, compared to a net cash inflow of HKD 2,371,858,000 in the same period last year[35] - The accounts receivable turnover period increased to approximately 39 days, compared to 32 days in 2023[35] - The inventory turnover period decreased to approximately 29 days, down from 52 days in 2023, while the average accounts payable turnover period improved to 22 days from 77 days[35] Employee and Governance - The group employed approximately 450 employees in the Greater China region as of June 30, 2024, ensuring competitive compensation and benefits[38] - The group has adopted the standard code for securities trading by directors, confirming compliance by all directors during the six months ended June 30, 2024[42] Strategic Outlook - The company expects challenges from ongoing trade tensions between the US and China, low demand visibility, currency fluctuations, and high interest rates[33] - The group announced the appointment of Ms. Yan Jiwen as a non-executive director of Shiteng Technology on July 2, 2024, with Shijie Investment holding a 46.3% stake in Shiteng Technology[44] - The group expressed gratitude to all employees for their contributions during challenging times and acknowledged the support from shareholders, customers, suppliers, and business partners[45]

Financial Performance - Total revenue for 2023 was HKD 22,371 million, a decrease of 10.4% from HKD 24,969 million in 2022[17]. - Profit attributable to owners of the company was HKD 403.8 million, reflecting a slight increase of 0.9% compared to HKD 400.3 million in the previous year[17]. - Basic earnings per share rose to HKD 64.52, up 0.9% from HKD 63.97 in 2022[17]. - For the year ended December 31, 2023, the group's revenue decreased by 10.4% to HKD 22,370,616,000 from HKD 24,968,652,000 in the previous year[44]. - The group's gross profit was HKD 1,316,411,000, an increase of 2.4% compared to HKD 1,285,327,000 last year, resulting in a gross margin of 5.9% compared to 5.1% in the previous year[44]. - The net profit attributable to shareholders for the year was HKD 403,801,000, a slight increase of 0.9% from HKD 400,337,000 in the previous year[44]. - The net profit for the year was HKD 585,673, representing an increase of 3.9% compared to HKD 563,907 in 2022[112]. - The total comprehensive income for the year was HKD 577,483, an increase of 20.3% from HKD 479,994 in 2022[112]. - The company reported a total comprehensive income of HKD 479,994,000 for the year ended December 31, 2023, compared to HKD 563,907,000 in 2022, indicating a decrease of about 14.9%[115]. Operational Efficiency - The company successfully managed inventory levels and operating costs, improving cash flow management despite a challenging macroeconomic environment[19]. - The average collection period for receivables increased to approximately 48 days in 2023 from 40 days in 2022[29]. - The inventory turnover period decreased to approximately 31 days in 2023 from 37 days in 2022[55]. - The operating cash inflow for 2023 was HKD 1,039,637,000, up from HKD 995,292,000 in 2022[30]. - The company incurred a loss of HKD 24,657,538,000 in financing activities, a decrease from HKD 34,880,385,000 in 2022, indicating improved cash management[120]. Market Trends and Future Outlook - Global smartphone shipments decreased to 1.17 billion units in 2023, the lowest in a decade, but the smartphone market began to show growth in Q4 2023[19]. - Demand for traditional TV and PC markets was weak, but was offset by rising demand in AI PCs, electric vehicle displays, and 5G infrastructure[20]. - The company anticipates growth in 2024 driven by demand for next-generation AI smartphones, AI PCs, and GPU servers, despite facing challenges from economic uncertainties and high inflation[25]. - The company plans to expand its product offerings, including high-resolution displays and Bluetooth low-energy solutions, to enhance competitiveness in the consumer electronics sector[20]. - The company plans to continue focusing on market expansion and new product development to drive future growth[112]. Dividend and Shareholder Returns - The company maintained a final dividend of HKD 25.00 per share, consistent with the previous year[17]. - The board proposed a final dividend of HKD 0.25 per share, maintaining the total dividend for the year at HKD 0.35 per share[44]. - The company paid dividends totaling HKD 219,043,000 to non-controlling interests in 2023, down from HKD 250,335,000 in 2022[120]. Governance and Compliance - The group prepares its consolidated financial statements in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with the Hong Kong Stock Exchange Listing Rules and the Companies Ordinance[3]. - The board of directors includes 5 executive directors and 4 independent non-executive directors, ensuring a diverse governance structure[166]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the fiscal year ending December 31, 2023[166]. - The audit committee, consisting of 3 independent non-executive directors, held three meetings in 2023 to review the group's financial performance and compliance procedures[172]. - The company has engaged Deloitte as external auditors for the fiscal year, ensuring independent financial oversight[174]. - The company has adopted measurable targets for board diversity, including gender diversity[180]. - The company has implemented a board member diversity policy to improve performance quality[176]. - The company received annual confirmations of independence from four independent non-executive directors, affirming their compliance with listing rules[188]. Assets and Investments - The group held 18 commercial and industrial investment properties in Hong Kong and China, with a total book value of HKD 663,000,000 as of December 31, 2023, down from HKD 706,000,000 in 2022[23]. - The rental income from investment properties amounted to HKD 19,400,000, compared to HKD 20,000,000 in 2022, with an annual return rate of 2.9%[49]. - The company’s total assets as of December 31, 2023, were HKD 3,010,446,000, up from HKD 2,843,287,000 in 2022, marking an increase of approximately 5.9%[115]. - The company’s equity attributable to owners of the parent increased to HKD 2,637,399,000 as of December 31, 2023, from HKD 2,457,217,000 in 2022, representing an increase of approximately 7.3%[115]. - The company’s investment in a joint venture increased by HKD 26,931,000 in 2023, compared to HKD 1,153,000 in 2022, indicating a strategic focus on expanding joint ventures[120].

Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 22,371 million, a decrease of 10.4% compared to HKD 24,969 million in 2022[16] - Profit attributable to the company's owners was HKD 403.8 million, reflecting a slight increase of 0.9% from HKD 400.3 million in the previous year[16] - Basic earnings per share rose to HKD 64.52, up 0.9% from HKD 63.97 in 2022[16] - Gross profit for the year was HKD 1,316,411 thousand, compared to HKD 1,285,327 thousand in 2022, indicating a slight improvement[19] - The company reported a net profit of HKD 585,673 thousand for the year, an increase from HKD 563,907 thousand in the previous year[19] - The company experienced a decrease in sales costs, which amounted to HKD 21,054,205 thousand, down from HKD 23,683,325 thousand in 2022[19] - Other income increased significantly to HKD 62,284 thousand from HKD 30,191 thousand in the previous year[19] - The company reported a total comprehensive income of HKD 577,483 in 2023, up from HKD 479,994 in 2022, an increase of 20.3%[27] - The company achieved a net operating cash inflow of HKD 1.04 billion in 2023, compared to HKD 995.29 million in 2022[110] Dividends - The total proposed dividend remained unchanged at HKD 35.00 per share, with a final dividend of HKD 25.00 and an interim dividend of HKD 10.00[16] - The company declared a final dividend of HKD 0.25 per share for the year ending December 31, 2023, consistent with the previous year[69] - The company plans to distribute a final dividend of HKD 0.25 per share, totaling HKD 0.35 per share for the year, unchanged from 2022[92] Assets and Liabilities - Net current assets decreased to HKD 1,708,246 in 2023 from HKD 1,924,402 in 2022, reflecting a decline of 11.2%[23] - Total assets less current liabilities decreased to HKD 2,953,856 in 2023 from HKD 3,252,748 in 2022, a reduction of 9.2%[24] - The company's equity attributable to owners increased to HKD 2,637,399 in 2023 from HKD 2,457,217 in 2022, representing an increase of 7.3%[30] - Trade and other payables rose to HKD 3,704,524 in 2023 from HKD 3,086,560 in 2022, an increase of 20.0%[6] - The company's total liabilities increased to HKD 3,704,524,000 in 2023 from HKD 3,086,560,000 in 2022, reflecting an increase of approximately 20%[78] Revenue Streams - Revenue from LED lighting and display products increased to HKD 42,516 in 2023 from HKD 26,949 in 2022, a growth of 57.7%[47] - Rental income from investment properties was HKD 19,370 in 2023, down from HKD 20,061 in 2022, a decrease of 3.4%[39] - The total income from bank deposits increased significantly to HKD 48,193,000 in 2023 from HKD 2,421,000 in 2022, marking a substantial rise[74] Employee and Operational Costs - Employee costs decreased to HKD 181,356,000 in 2023 from HKD 200,362,000 in 2022, a reduction of approximately 9.5%[65] - The inventory turnover period was approximately 31 days, down from 37 days in 2022, while the average accounts payable turnover period was approximately 51 days, down from 42 days in 2022[110] Economic Outlook and Challenges - The company faces challenges from economic headwinds, including high inflation and interest rates, while focusing on cash flow management and capital expenditure[98] - The company is optimistic about future growth driven by demand for next-generation AI smartphones and AI PCs, despite ongoing trade tensions between the US and China[98] Corporate Governance - The company has adhered to the corporate governance code, with the board accepting the current structure of having the chairman and CEO roles held by the same individual, Dr. Yan Yulin, based on the group's business scale[116]

Financial Performance - For the six months ended June 30, 2023, the company recorded revenue of HKD 9,283,390,000, a decrease of 38.1% compared to HKD 14,996,092,000 in the same period last year[22] - The gross profit for the same period was HKD 700,456,000, down 3.1% from HKD 723,126,000 year-on-year, with a gross margin of 7.6% compared to 4.8% in the previous year[22] - The profit attributable to shareholders for the period was HKD 271,351,000, a decrease of 9.7% from HKD 300,663,000 in the prior year, resulting in basic earnings per share of HKD 0.4336, down from HKD 0.4804[22] - The company reported a net loss of HKD 1,448 for the six months ended June 30, 2023, compared to a profit of HKD 824 in the same period of 2022[48] - Total comprehensive income attributable to owners was HKD 403,233,000 for the six months ended June 30, 2023, compared to HKD 391,192,000 in the same period of 2022, representing an increase of approximately 3.0%[59] - Basic and diluted earnings per share were HKD 43.36 for the six months ended June 30, 2023, down from HKD 48.04 in the same period of 2022, reflecting a decrease of about 9.0%[59] Cash Flow and Liquidity - The company reported a net cash position of approximately HKD -2,180,986,000, compared to a net capital debt ratio of 1% as of December 31, 2022[23] - Net cash generated from operating activities was HKD 2,371,858, a significant improvement from a cash outflow of HKD 1,169,795 in the previous year[76] - The company reported a net increase in cash and cash equivalents of HKD 3,127,384, compared to an increase of HKD 103,925 in the same period last year[76] - The total cash and cash equivalents at the end of the period were HKD 4,560,907, up from HKD 1,862,902 at the end of the previous period[76] Assets and Liabilities - As of June 30, 2023, the company's current ratio was 132%, down from 139% as of December 31, 2022[23] - Current assets net value was HKD 2,169,726,000 as of June 30, 2023, compared to HKD 1,924,402,000 as of December 31, 2022, indicating an increase of around 12.8%[72] - Total assets less current liabilities amounted to HKD 3,494,503,000 as of June 30, 2023, up from HKD 3,252,748,000 as of December 31, 2022, representing a rise of approximately 7.4%[72] - Current liabilities rose to HKD 6,725,514,000 as of June 30, 2023, compared to HKD 4,886,120,000 as of December 31, 2022, representing an increase of about 37.6%[72] Inventory and Receivables - The accounts receivable turnover period was approximately 32 days, slightly improved from 33 days in 2022[12] - The inventory turnover period was approximately 52 days, up from 37 days in the previous year[24] - Trade and other receivables decreased to HKD 853,280,000 as of June 30, 2023, from HKD 1,113,014,000 as of December 31, 2022, indicating a decline of approximately 23.3%[71] - Inventory stood at HKD 2,460,210,000 as of June 30, 2023, compared to HKD 2,398,330,000 as of December 31, 2022, reflecting an increase of about 2.6%[71] Shareholder Information - The company maintained an interim dividend of HKD 10.00 per share, unchanged from the previous year[57] - Major shareholders include Dr. Yan Yulin with 114,800,000 shares (18.34%) and a controlled corporation holding 227,542,800 shares (36.36%), totaling 342,342,800 shares (54.70%)[137] - The company held 224,423,000 shares of Yangyu, representing approximately 34.4% of its issued share capital as of June 30, 2023[37] Market and Economic Conditions - The company is facing challenges such as slow economic growth, low demand visibility, high inflation, and elevated interest costs, but the global semiconductor industry's shift towards digital and green economies is expected to support growth in 2024[133] - The group managed to control inventory levels and operating costs despite ongoing macroeconomic challenges affecting consumer demand for mobile phones and electronics[105] Corporate Governance and Compliance - The company confirmed compliance with the corporate governance code during the six months ending June 30, 2023[144] - The company has no knowledge of any other relevant interests or short positions in its issued capital as of June 30, 2023[143] Future Plans and Strategies - The company plans to issue 224,423,000 rights shares at a subscription price of HKD 0.12 per share, with an expected investment of approximately HKD 26,900,000[146] - The company has entered into foreign exchange forward contracts to hedge against foreign exchange risks related to payables denominated in foreign currencies[135]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 9,283,390 thousand, a decrease of 38.1% compared to HKD 14,996,092 thousand in the same period of 2022[4] - Profit attributable to owners of the company for the same period was HKD 271,351 thousand, down 9.7% from HKD 300,663 thousand in 2022[4] - Basic earnings per share decreased to HKD 43.36, down 9.7% from HKD 48.04 in the previous year[4] - Gross profit for the period was HKD 700,456 thousand, slightly down from HKD 723,126 thousand in 2022[5] - Total revenue for the six months ended June 30, 2023, was HKD 9,283,390,000, compared to HKD 14,996,092,000 in the same period of 2022, representing a decline of about 38.2%[38] - Sales of electronic components and semiconductors amounted to HKD 9,207,622,000, down from HKD 14,919,387,000 in 2022, indicating a decrease of approximately 38.5%[38] - For the six months ended June 30, 2023, the total revenue was HKD 9,283,390,000, a decrease of 38.3% compared to HKD 14,996,092,000 for the same period in 2022[41] - Gross profit was HKD 700,456,000, down 3.1% from HKD 723,126,000 year-on-year, with a gross margin of 7.6% compared to 4.8% in the previous year[81] - Net profit attributable to shareholders was HKD 271,351,000, a decrease of 9.7% from HKD 300,663,000 in the same period last year, with basic earnings per share at HKD 0.4336 compared to HKD 0.4804 in 2022[81] Dividends and Shareholder Returns - The company maintained an interim dividend of HKD 10.00 per share, unchanged from the previous year[4] - The interim dividend declared is HKD 0.10 per share, consistent with the previous year[73] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 10,219,017 thousand, compared to HKD 8,138,868 thousand as of December 31, 2022[14] - The net asset value as of June 30, 2023, was HKD 3,257,220,000, compared to HKD 3,010,446,000 at the end of 2022, showing an increase of about 8.2%[33] - The company's current liabilities increased to HKD 6,725,514,000 from HKD 4,886,120,000, reflecting a rise of approximately 37.7%[33] - The total trade and other receivables amounted to HKD 853,280,000 as of June 30, 2023, down from HKD 1,113,014,000 at the end of 2022[48] - Trade payables increased to HKD 3,671,374,000 as of June 30, 2023, compared to HKD 2,695,849,000 at the end of 2022[72] Cash Flow and Financial Position - The group recorded a net operating cash inflow of HKD 2,371,858,000 for the six months ended June 30, 2023, compared to a net outflow of HKD 1,169,795,000 for the same period last year[61] - The group is in a net cash position with a net debt ratio of approximately -HKD 2,180,986,000 as of June 30, 2023, compared to a net capital debt ratio of 1% at the end of 2022[83] Other Income and Expenses - Other income increased to HKD 34,627 thousand from HKD 15,183 thousand in the previous period[5] - The company reported a net loss of HKD 17,801 thousand from other gains and losses, an improvement from a loss of HKD 36,741 thousand in 2022[5] - Other income, including bank interest and dividends, totaled HKD 34,627,000, significantly up from HKD 15,183,000 in the previous year, marking an increase of about 128.3%[25] - The company reported a loss from the sale of available-for-sale investments amounting to HKD 78,000, compared to a gain of HKD 6,228,000 in the previous year[25] Operational Metrics - The accounts receivable turnover period was approximately 32 days for the six months ended June 30, 2023, compared to 33 days for the same period in 2022[60] - The inventory turnover period and average accounts payable turnover period were approximately 52 days and 77 days, respectively, compared to 37 days and 20 days in 2022[84] Strategic Outlook - The company plans to continue facing challenges such as slow economic growth and high inflation, while the global semiconductor industry trends towards digital and green economic development[55] - The group believes it is better equipped to face challenges and aims for sustainable business growth, leveraging economies of scale and strong financial backing[79] - The group actively incorporates sustainability into its business operations, considering environmental, social, and governance issues[80] Investments and Projects - The group has completed several medium-sized LED lighting and display projects for hotels, real estate developers, and local government departments in the Asia-Pacific region[77] - The group has made an irrevocable commitment to subscribe for 224,423,000 rights shares at HKD 0.12 per share, expecting to invest approximately HKD 26,900,000[104] Corporate Governance - The board of directors consists of 5 executive directors, 1 non-executive director, and 4 independent non-executive directors[105]

Procurement and Customer Concentration - The largest supplier accounted for 64.2% of total procurement, while the top five suppliers represented 75.5% of total procurement[3]. - The largest customer contributed 41.6% to total sales, and the top five customers accounted for 58.7% of total sales[4]. Financial Performance - For the year ended December 31, 2022, the group's revenue decreased by 29.3% to HKD 24,968,652,000 from HKD 35,297,778,000 in the previous year[37]. - The group's gross profit was HKD 1,285,327,000, a decrease of 19.0% from HKD 1,587,248,000, with a gross margin of 5.1% compared to 4.5% last year[37]. - Shareholders' profit attributable to the company was HKD 400,337,000, down 43.9% from HKD 713,191,000, with basic earnings per share at HKD 0.6397 (2021: HKD 1.1396)[37]. - Total revenue for the year 2022 was HKD 24,968,652, a decrease of 29.5% from HKD 35,297,778 in 2021[172]. - Gross profit for 2022 was HKD 1,285,327, down 19.0% from HKD 1,587,248 in 2021[172]. - The net profit for the year was HKD 563,907, representing a decline of 39.1% compared to HKD 925,134 in 2021[172]. - The company reported a decrease in administrative expenses to HKD 207,817 from HKD 228,786, a reduction of 9.2%[172]. - The total comprehensive income for the year was HKD 479,994, down 49.3% from HKD 944,944 in 2021[172]. Inventory and Turnover - The inventory turnover period and average accounts payable turnover period were approximately 37 days and 42 days, respectively, compared to 29 days and 35 days in 2021[46]. - The group's inventory value as of December 31, 2022, was HKD 2,398,330,000, with a provision for inventory of HKD 193,194,000, representing 29.5% of the total assets[163]. Risk Management - The company faces various risks, including exchange rate risk, interest rate risk, credit risk, and liquidity risk, which are monitored closely[12]. - The company has established foreign exchange forward contracts to hedge against foreign currency risks related to payables[103]. Corporate Governance - The company has no significant violations of applicable laws and regulations, ensuring compliance with the Hong Kong Companies Ordinance and other relevant regulations[9]. - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange Listing Rules for the fiscal year ending December 31, 2022[69]. - The board held a total of 5 meetings, with all executive directors attending 100% of the meetings[76]. - The company has a diversity policy for its board members, ensuring at least one-third are independent non-executive directors[85]. - The audit committee conducted a review of the group's risk management and internal control systems during the year[89]. - The company has adopted a standard code of conduct for securities trading by directors[72]. Shareholder Engagement - The company encourages shareholders to attend annual general meetings, providing at least 20 business days' notice[93]. - The company allows shareholders to propose resolutions at general meetings, requiring a minimum of 100 shareholders or 5% of voting rights[79]. Donations and Social Responsibility - The company donated HKD 3,513,000 to charitable and non-profit organizations in Hong Kong and China during the year[43]. - The group made charitable donations and other contributions of approximately HKD 3,513,000 during the fiscal year[157]. Future Outlook - The company anticipates facing significant challenges in 2023, including slow global economic recovery, low demand visibility, high inflation, and elevated interest costs[42]. - Demand for televisions, PCs, 5G network equipment, and data centers in China was weak, leading to a decline in revenue from the consumer electronics segment[39]. - The semiconductor industry is shifting towards digital and green economic development, which will remain a consistent trend[42]. Auditor and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2022[137]. - The company has engaged Deloitte as external auditors for the fiscal year, with fees disclosed in the report[73]. - The company plans to propose the reappointment of Deloitte as the auditor at the upcoming annual general meeting[158]. Major Shareholders - Major shareholder Foxconn holds 124 million shares, representing 19.81% of the company's issued share capital[108]. - The company has engaged in multiple related party transactions with major shareholder Foxconn and its subsidiaries during the fiscal year[130]. Environmental Initiatives - The company aims to enhance resource efficiency and reduce waste through various environmental initiatives, including the use of LED lighting and eco-friendly materials[119].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 截至2022年12月31日止年度的年度業績 | --- | --- | --- | --- | |-------------------------------------|---------|---------|--------| | | 2022 年 | 2021 年 | 變動 | | 收入 （港幣百萬元） | 24,969 | 35,298 | -29.3% | | 本公司擁有人應佔溢利 （港幣百萬元） | 400 | 713 | -43.9% | | 每股基本盈利 （港仙） | 63.97 | 113.96 | -43.9% | | 每股股息 （港仙） | | | | | －建議末期 | 25.00 | 30.00 | | | －已派中期 | 10.00 | 15.00 | | | 總額 | 35.00 | 45.00 | -22.2% | 時捷集團有限公司（「本公司」）董事會（「董事會」）欣然宣 ...