TK GROUP HLDG(02283)

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东江集团控股(02283) - 2025 - 中期业绩
2025-08-18 13:08
[Company Information and Announcements](index=1&type=section&id=Company%20Information%20and%20Announcements) [Company Profile](index=1&type=section&id=Company%20Profile) TK Group (Holdings) Limited, stock code 2283, announced its interim results for the six months ended June 30, 2025 - Company Name: **TK Group (Holdings) Limited** - Stock Code: **2283**[2](index=2&type=chunk) - Announcement Content: Interim results for the six months ended June 30, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) [Financial Performance Summary](index=2&type=section&id=Financial%20Performance%20Summary) [Key Financial Indicators](index=2&type=section&id=Key%20Financial%20Indicators) For the six months ended June 30, 2025, revenue increased by 4.3% to HKD 1,050,255 thousand, profit for the period rose 8.8% to HKD 86,774 thousand, basic earnings per share increased to HKD 10.5 cents, and both gross and net margins improved 2025 H1 Key Financial Indicators Comparison (HKD thousands) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,050,255 | 1,007,209 | 4.3% | | Profit for the period | 86,774 | 79,742 | 8.8% | | Basic EPS (HK cents) | 10.5 | 9.6 | 9.4% | | Proposed Interim Dividend (HK cents) | 4.3 | 4.0 | 7.5% | | Gross Margin | 25.3% | 24.8% | +0.5pp | | Net Margin | 8.3% | 7.9% | +0.4pp | | Return on Equity | 5.2% | 5.1% | +0.1pp | | Return on Assets | 3.4% | 3.2% | +0.2pp | | Inventory Turnover Days | 106 | 104 | +2 days | | Trade Receivables Turnover Days | 72 | 66 | +6 days | | Trade Payables Turnover Days | 72 | 71 | +1 day | [Financial Position](index=2&type=section&id=Financial%20Position) As of June 30, 2025, net current assets slightly decreased, but the current ratio remained high at 262.6% with no bank borrowings, indicating a robust financial structure 2025 June 30 Financial Position Comparison (HKD thousands) | Indicator | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Current Assets | 1,249,384 | 1,264,692 | -1.2% | | Current Ratio | 262.6% | 263.4% | -0.8pp | | Quick Ratio | 201.6% | 209.2% | -7.6pp | | Gearing Ratio | Not Applicable | Not Applicable | - | | Bank Borrowings | None | None | - | [Interim Condensed Consolidated Financial Statements](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) [Interim Condensed Consolidated Statement of Comprehensive Income](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) In H1 2025, revenue grew 4.3% and gross profit 6.1%, but operating profit decreased 10.9% due to non-recurring items; profit for the period increased 8.8%, and total comprehensive income significantly rose to HKD 126,789 thousand, mainly from foreign currency translation differences 2025 H1 Consolidated Statement of Comprehensive Income Key Data (HKD thousands) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,050,255 | 1,007,209 | 4.3% | | Cost of Sales | (784,872) | (757,191) | 3.7% | | Gross Profit | 265,383 | 250,018 | 6.1% | | Operating Profit | 90,969 | 102,045 | -10.9% | | Profit Before Income Tax | 101,360 | 111,439 | -9.0% | | Income Tax Expense | (14,586) | (31,697) | -54.0% | | Profit for the Period | 86,774 | 79,742 | 8.8% | | Total Comprehensive Income for the Period | 126,789 | 32,694 | 287.8% | | Basic and Diluted EPS (HK cents) | 10.5 | 9.6 | 9.4% | [Interim Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets, non-current assets, and current assets slightly decreased, while total equity and total liabilities also saw minor reductions, maintaining a stable financial structure with no bank borrowings 2025 June 30 Consolidated Statement of Financial Position Key Data (HKD thousands) | Indicator | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Non-current Assets | 519,273 | 538,074 | -3.5% | | Current Assets | 2,017,732 | 2,038,669 | -1.0% | | Total Assets | 2,537,005 | 2,576,743 | -1.5% | | **Equity** | | | | | Total Equity | 1,682,585 | 1,711,287 | -1.7% | | **Liabilities** | | | | | Non-current Liabilities | 86,072 | 91,479 | -5.9% | | Current Liabilities | 768,348 | 773,977 | -0.7% | | Total Liabilities | 854,420 | 865,456 | -1.3% | | Total Equity and Liabilities | 2,537,005 | 2,576,743 | -1.5% | [Notes to the Interim Financial Information](index=7&type=section&id=Notes%20to%20the%20Interim%20Financial%20Information) [General Information](index=7&type=section&id=General%20Information) The company, registered in the Cayman Islands, primarily manufactures, sells, and modifies moulds and injection moulding components in China, with shares listed on the HKEX since 2013 - Company registered in the Cayman Islands, primarily engaged in the manufacturing, sale, subcontracting, production, and modification of moulds and injection moulding components in China[9](index=9&type=chunk) - Listed on the Hong Kong Stock Exchange on **December 20, 2013**[10](index=10&type=chunk) - Financial information presented in **HKD** and approved for publication by the Board on August 18, 2025, unaudited but reviewed by the Audit Committee[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk) [Basis of Preparation and Accounting Policies](index=7&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) The interim financial information is prepared in accordance with HKAS 34 and consistent with the 2024 annual financial statements, with no significant impact from new or revised standards adopted this period - Basis of Preparation: Prepared in accordance with **Hong Kong Accounting Standard 34 "Interim Financial Reporting"** issued by the Hong Kong Institute of Certified Public Accountants[14](index=14&type=chunk) - Accounting Policies: Consistent with the previous financial year, with no significant impact on financial performance or position from new and revised standards adopted during the period[15](index=15&type=chunk)[16](index=16&type=chunk) [Segment Information](index=8&type=section&id=Segment%20Information) In H1 2025, mould manufacturing revenue grew strongly by 30.4% to HKD 350,548 thousand, while plastic injection moulding components manufacturing revenue decreased by 5.2% to HKD 699,707 thousand 2025 H1 Segment Revenue and Results (HKD thousands) | Segment | 2025 Revenue (HKD thousands) | 2024 Revenue (HKD thousands) | Revenue Change (%) | 2025 Results (HKD thousands) | 2024 Results (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | | Mould Manufacturing | 350,548 | 268,912 | 30.4% | 115,385 | 90,055 | | Plastic Injection Moulding Components Manufacturing | 699,707 | 738,297 | -5.2% | 149,998 | 159,963 | | Total (External Customers) | 1,050,255 | 1,007,209 | 4.3% | 265,383 | 250,018 | [Income Tax Expense](index=9&type=section&id=Income%20Tax%20Expense) Income tax expense significantly decreased by 54.0% to HKD 14,586 thousand in H1 2025, with the effective tax rate falling to 14.4%, primarily due to reduced withholding income tax 2025 H1 Income Tax Expense (HKD thousands) | Tax Type | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Current Income Tax | 11,169 | 16,398 | -31.9% | | Deferred Income Tax | 3,417 | 15,299 | -77.7% | | Total Income Tax Expense | 14,586 | 31,697 | -54.0% | | Effective Tax Rate | 14.4% | 28.4% | -14.0pp | - China corporate income tax rate is **25%**, with some high-tech enterprises enjoying a **15%** preferential tax rate; withholding income tax is typically **10%**, with a **5%** preferential rate for Hong Kong tax residents[21](index=21&type=chunk) [Earnings Per Share](index=10&type=section&id=Earnings%20Per%20Share) Basic earnings per share for H1 2025 increased by 9.4% to HKD 10.5 cents, with diluted earnings per share being substantially the same due to minimal dilutive potential shares 2025 H1 Earnings Per Share Calculation | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit for the period (HKD thousands) | 86,774 | 79,742 | | Weighted Average Number of Ordinary Shares (thousands of shares) | 829,149 | 827,529 | | Basic EPS (HK cents) | 10.5 | 9.6 | | Diluted EPS | Substantially the same | Substantially the same | [Trade and Other Receivables](index=10&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables increased to HKD 481,677 thousand, with net trade receivables at HKD 421,241 thousand, mostly within three months 2025 June 30 Trade and Other Receivables (HKD thousands) | Item | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | | :--- | :--- | :--- | | Net Trade Receivables | 421,241 | 399,686 | | Prepayments and Deposits | 23,383 | 26,740 | | Recoverable VAT | 13,887 | 14,226 | | Advances to Employees | 4,562 | 4,364 | | Loans to Associates | 1,193 | 808 | | Export Tax Refund Receivables | 3,115 | 1,281 | | Others | 14,296 | 7,161 | | **Total** | **481,677** | **454,266** | Trade Receivables Ageing Analysis (HKD thousands) | Ageing | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 376,509 | 358,739 | | Over 3 months but within 1 year | 54,005 | 48,030 | | Over 1 year | 2,231 | 2,643 | | **Total** | **432,745** | **409,412** | - No new loans were provided to associates during the period[27](index=27&type=chunk) [Trade and Other Payables](index=12&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to HKD 450,423 thousand, with trade payables at HKD 333,371 thousand, mostly due within 90 days 2025 June 30 Trade and Other Payables (HKD thousands) | Item | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | | :--- | :--- | :--- | | Trade Payables | 333,371 | 292,330 | | Accrued Wages and Employee Benefits | 85,844 | 117,135 | | Accrued Expenses and Other Payables | 16,818 | 14,071 | | Other Tax Payables | 14,390 | 12,368 | | **Total** | **450,423** | **435,904** | Trade Payables Ageing Analysis (HKD thousands) | Ageing | 2025 June 30 (HKD thousands) | 2024 Dec 31 (HKD thousands) | | :--- | :--- | :--- | | Within 90 days | 260,207 | 214,374 | | 91 to 120 days | 52,306 | 47,414 | | 121 to 365 days | 12,894 | 22,236 | | Over 365 days | 7,964 | 8,306 | | **Total** | **333,371** | **292,330** | [Share Capital and Share Premium](index=12&type=section&id=Share%20Capital%20and%20Share%20Premium) As of June 30, 2025, the company's authorized and issued share capital remained unchanged at 2,000,000 thousand shares and 833,260 thousand shares respectively, with share premium also stable at HKD 251,293 thousand Share Capital and Share Premium (HKD thousands) | Item | Number of Ordinary Shares (thousands of shares) | Par Value (HKD thousands) | Share Premium (HKD thousands) | Total (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Authorized Share Capital | 2,000,000 | 200,000 | - | - | | Issued and Fully Paid Share Capital | 833,260 | 83,326 | 251,293 | 334,619 | [Dividends](index=12&type=section&id=Dividends) The Board resolved to declare an interim dividend of HKD 4.3 cents per share for H1 2025, an increase from the prior year, with 2024 final and special dividends already paid in June 2025 - On August 18, 2025, the Board resolved to declare an interim dividend of **HKD 4.3 cents per share** (2024 interim: HKD 4.0 cents), totaling approximately **HKD 35,830,000**[31](index=31&type=chunk) - The 2024 final dividend (HKD 8.8 cents per share) and special dividend (HKD 10.0 cents per share) were paid on **June 12, 2025**[31](index=31&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=13&type=section&id=Business%20Review) In H1 2025, despite global economic challenges, the company's total revenue grew 4.3%, driven by a strong 30.4% increase in mould manufacturing, offsetting a 5.2% decline in plastic injection moulding components manufacturing - Global economic environment faces challenges, with slowing US economic growth and weak consumer spending; the Eurozone shows a moderate recovery; China's GDP grew **5.3%**, demonstrating resilience[32](index=32&type=chunk) 2025 H1 Revenue by Business Segment Comparison (HKD millions) | Business Segment | 2025 H1 (HKD millions) | 2024 H1 (HKD millions) | Change (%) | | :--- | :--- | :--- | :--- | | Mould Manufacturing | 350.6 | 268.9 | 30.4% | | Plastic Injection Moulding Components Manufacturing | 699.7 | 738.3 | -5.2% | | **Total Revenue** | **1,050.3** | **1,007.2** | **4.3%** | [Revenue by Downstream Industry Analysis](index=13&type=section&id=Revenue%20by%20Downstream%20Industry%20Analysis) In H1 2025, revenue from automotive, medical & personal care, and other industries grew significantly, with automotive up 30.3%, while mobile & wearables, smart home, e-vaporizers, and commercial communication equipment saw declines, with the latter down 45.4% 2025 H1 Revenue by Downstream Industry Analysis (HKD millions) | Industry | 2025 (HKD millions) | 2025 (%) | 2024 (HKD millions) | 2024 (%) | Change (HKD millions) | Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Mobile & Wearables | 313.7 | 29.9 | 326.2 | 32.4 | -12.5 | -3.8 | | Automotive | 187.3 | 17.8 | 143.7 | 14.3 | 43.6 | 30.3 | | Medical & Personal Care | 163.6 | 15.6 | 142.5 | 14.1 | 21.1 | 14.8 | | Smart Home | 99.2 | 9.4 | 99.9 | 9.9 | -0.7 | -0.7 | | E-vaporizers | 77.5 | 7.4 | 95.5 | 9.5 | -18.0 | -18.8 | | Commercial Communication Equipment | 49.1 | 4.7 | 90.0 | 8.9 | -40.9 | -45.4 | | Others | 159.9 | 15.2 | 109.4 | 10.9 | 50.5 | 46.2 | | **Total** | **1,050.3** | **100.0** | **1,007.2** | **100.0** | **43.1** | **4.3** | [Overall Financial Highlights](index=14&type=section&id=Overall%20Financial%20Highlights) In H1 2025, gross profit increased 6.1% to HKD 265.4 million, gross margin improved by 0.5 percentage points to 25.3%, profit attributable to owners rose 8.8% to HKD 86.8 million, basic EPS increased to HKD 10.5 cents, and sales orders on hand grew 12.4% 2025 H1 Overall Financial Highlights (HKD millions) | Indicator | 2025 H1 (HKD millions) | 2024 H1 (HKD millions) | Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 265.4 | 250.0 | 6.1% | | Gross Margin | 25.3% | 24.8% | +0.5pp | | Profit Attributable to Owners | 86.8 | 79.7 | 8.8% | | Net Margin | 8.3% | 7.9% | +0.4pp | | Basic EPS (HK cents) | 10.5 | 9.6 | 9.4% | | Net Cash | 1,067.2 | 1,060.5 | 0.6% | | Sales Orders on Hand | 999.3 | 889.1 (2024 Dec 31) | 12.4% | [Business Segment Analysis](index=14&type=section&id=Business%20Segment%20Analysis) Mould manufacturing revenue surged 30.4% due to automotive recovery and market demand, though gross margin slightly decreased due to investment in precision moulds; plastic injection moulding components revenue fell 5.2% due to a slowdown in consumer markets, but medical & personal care performed strongly [Mould Manufacturing Business](index=14&type=section&id=Mould%20Manufacturing%20Business) Mould manufacturing revenue grew 30.4% to HKD 350.6 million, driven by automotive parts demand and market expansion, but gross margin slightly decreased to 32.9% due to increased investment in precision mould manufacturing capabilities - Mould manufacturing business revenue: **HKD 350.6 million**, a **30.4% year-on-year increase**, accounting for **33.4%** of total revenue[36](index=36&type=chunk) - Business Focus: Super-large standard moulds primarily for automotive parts, while precision moulds cover high-end consumer electronics such as mobile phones, wearables, smart home devices, and medical & personal care products[36](index=36&type=chunk) - Strategy: Increased investment to enhance precision mould manufacturing capabilities and refinement, actively expanding into medical, consumer electronics, and smart home markets to diversify client base[37](index=37&type=chunk) - Gross Margin: **32.9%**, a **0.6 percentage point year-on-year decrease**, mainly due to increased investment in precision mould manufacturing capabilities[37](index=37&type=chunk)[41](index=41&type=chunk) [Plastic Injection Moulding Components Manufacturing Business](index=15&type=section&id=Plastic%20Injection%20Moulding%20Components%20Manufacturing%20Business) Plastic injection moulding components revenue decreased 5.2% to HKD 699.7 million due to weak consumer confidence, though medical & personal care showed strong growth, while e-vaporizers declined due to regulatory tightening, resulting in a slight gross margin drop to 21.4% - Plastic injection moulding components manufacturing business revenue: **HKD 699.7 million**, a **5.2% year-on-year decrease**, accounting for **66.6%** of total revenue[38](index=38&type=chunk) - Key Impact: Weak consumer confidence in Europe and America led to shrinking product demand, with some brand clients adjusting orders or delaying shipments[38](index=38&type=chunk) Plastic Injection Business Key Downstream Industry Revenue Changes | Industry | Revenue Change (%) | | :--- | :--- | | Mobile & Wearables | -3.8% | | Smart Home | -0.7% | | Commercial Communication Equipment | -45.4% | | Medical & Personal Care | +14.8% (Medical Consumables +24.0%, Personal Care +4.5%) | | E-vaporizers | -18.8% | - Strategy: Continuously strengthening efforts to expand overseas and domestic medical brand clients, seizing development opportunities in the medical and health industry[39](index=39&type=chunk) - Gross Margin: **21.4%**, a slight **0.3 percentage point year-on-year decrease**, mainly due to the slowdown in the consumer market affecting order volumes[39](index=39&type=chunk)[41](index=41&type=chunk) [Analysis of Statement of Profit or Loss Items](index=16&type=section&id=Analysis%20of%20Statement%20of%20Profit%20or%20Loss%20Items) This section details the changes and drivers for revenue, gross profit, other income, selling expenses, administrative expenses, finance income, share of results of associates, operating profit, income tax expense, and profit for the period in H1 2025 [Revenue](index=16&type=section&id=Revenue) H1 2025 revenue increased 4.3% to HKD 1,050.3 million, primarily driven by a 30.4% growth in mould manufacturing, offsetting a 5.2% decline in plastic injection moulding components manufacturing - Total Revenue: **HKD 1,050.3 million**, a **4.3% year-on-year increase**[40](index=40&type=chunk) - Driving Factors: Mould manufacturing business grew **30.4%**, while plastic injection moulding components manufacturing business decreased **5.2%**[40](index=40&type=chunk) [Gross Profit](index=16&type=section&id=Gross%20Profit) Gross profit increased 6.1% to HKD 265.4 million, with gross margin rising 0.5 percentage points to 25.3%, mainly due to the growth of higher-margin mould manufacturing business - Gross Profit: **HKD 265.4 million**, a **6.1% year-on-year increase**; Gross Margin: **25.3%**, up **0.5 percentage points**[41](index=41&type=chunk) - Mould Manufacturing Segment Gross Margin: **32.9%**, down **0.6 percentage points**, due to increased investment in precision mould manufacturing capabilities[41](index=41&type=chunk) - Plastic Injection Moulding Components Manufacturing Segment Gross Margin: **21.4%**, down **0.3 percentage points**, due to the slowdown in the consumer market affecting order volumes[41](index=41&type=chunk) [Other Income](index=16&type=section&id=Other%20Income) Other income decreased by 34.4% to HKD 12.8 million, primarily due to a reduction in government grants - Other Income: **HKD 12.8 million**, a **34.4% year-on-year decrease**, mainly due to reduced government grants[42](index=42&type=chunk) [Other (Losses)/Gains – Net](index=17&type=section&id=Other%20%28Losses%29%E2%88%95Gains%E2%80%93Net) Other net losses amounted to HKD 0.2 million this period, a shift from a HKD 5.9 million gain in the prior year, mainly due to reduced exchange gains - Other (Losses)/Gains – Net: A **loss of HKD 0.2 million** this period, compared to a gain of HKD 5.9 million in the prior year, primarily due to reduced exchange gains[43](index=43&type=chunk) [Selling Expenses](index=17&type=section&id=Selling%20Expenses) Selling expenses decreased by 28.3% to HKD 24.6 million, representing 2.3% of total revenue, primarily due to lower transportation costs - Selling Expenses: **HKD 24.6 million**, a **28.3% year-on-year decrease**, representing **2.3%** of total revenue, mainly due to reduced transportation costs[44](index=44&type=chunk) [Administrative Expenses](index=17&type=section&id=Administrative%20Expenses) Administrative expenses increased by 18.8% to HKD 160.9 million, representing 15.3% of total revenue, mainly due to higher R&D staff costs and consulting fees for organizational diagnosis and strategic enhancement - Administrative Expenses: **HKD 160.9 million**, an **18.8% year-on-year increase**, representing **15.3%** of total revenue[45](index=45&type=chunk) - Driving Factors: 1) Increased employee expenses for R&D personnel; 2) Increased consulting service fees for organizational diagnosis and strategic enhancement[45](index=45&type=chunk) [Finance Income – Net](index=17&type=section&id=Finance%20Income%E2%80%93Net) Net finance income increased by 12.9% to HKD 9.5 million, primarily driven by higher interest income - Net Finance Income: **HKD 9.5 million**, a **12.9% year-on-year increase**, primarily due to higher interest income[46](index=46&type=chunk) [Share of Results of Associates](index=17&type=section&id=Share%20of%20Results%20of%20Associates) Share of profit from associates decreased by 9.0% to HKD 0.9 million - Share of Profit from Associates: **HKD 0.9 million**, a **9.0% year-on-year decrease**[47](index=47&type=chunk) [Operating Profit](index=17&type=section&id=Operating%20Profit) Operating profit decreased by 10.9% to HKD 91.0 million, primarily impacted by non-recurring items, while core operating profit (excluding non-recurring items) increased by 8.8% to HKD 95.6 million - Operating Profit: **HKD 91.0 million**, a **10.9% year-on-year decrease**, primarily impacted by non-recurring items[48](index=48&type=chunk) - Core Operating Profit (excluding non-recurring items): **HKD 95.6 million**, an **8.8% year-on-year increase**[48](index=48&type=chunk) [Income Tax Expense](index=18&type=section&id=Income%20Tax%20Expense) Income tax expense significantly decreased by 54.0% to HKD 14.6 million, with the effective tax rate falling to 14.4%, mainly due to reduced withholding income tax - Income Tax Expense: **HKD 14.6 million**, a **54.0% year-on-year decrease**; Effective Tax Rate: **14.4%**, a **14.0 percentage point year-on-year decrease**, mainly due to reduced withholding income tax[49](index=49&type=chunk) [Profit for the Period](index=18&type=section&id=Profit%20for%20the%20Period) Profit for the period increased by 8.8% to HKD 86.8 million - Profit for the Period: **HKD 86.8 million**, an **8.8% year-on-year increase**[50](index=50&type=chunk) [Seasonality](index=18&type=section&id=Seasonality) Company sales are seasonal, with higher demand in the second half of the year driven by holiday seasons and new product launches, accounting for 57% of 2024 revenue - Sales are subject to seasonality, with demand typically higher in the second half of the year, driven by seasonal consumption patterns (e.g., Thanksgiving, Christmas holidays) and new product launches[51](index=51&type=chunk) - 2024 Revenue Distribution: **43%** in H1, **57%** in H2[51](index=51&type=chunk) [Liquidity, Financial Resources and Ratios](index=18&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Ratios) As of June 30, 2025, net current assets slightly decreased, but cash and bank balances remained high, and the current ratio was robust, with no bank borrowings and an inapplicable gearing ratio [Liquidity Position](index=18&type=section&id=Liquidity%20Position) As of June 30, 2025, net current assets were HKD 1,249.4 million, cash and bank balances were HKD 1,067.2 million, the current ratio was 262.6%, total equity was HKD 1,682.6 million, and there were no bank borrowings 2025 June 30 Liquidity Position (HKD millions) | Indicator | 2025 June 30 (HKD millions) | 2024 Dec 31 (HKD millions) | Change (%) | | :--- | :--- | :--- | :--- | | Net Current Assets | 1,249.4 | 1,264.7 | -1.2% | | Cash and Bank Balances | 1,067.2 | 1,164.8 | -8.4% | | Current Ratio | 262.6% | 263.4% | -0.8pp | | Total Equity | 1,682.6 | 1,711.3 | -1.7% | | Bank Borrowings | None | None | - | | Gearing Ratio | Not Applicable | Not Applicable | - | [Maturity Profile of Borrowings](index=19&type=section&id=Maturity%20Profile%20of%20Borrowings) As of June 30, 2025, the Group had no bank borrowings - The Group had **no bank borrowings** as of June 30, 2025, and December 31, 2024[53](index=53&type=chunk) [Liquidity Ratios](index=19&type=section&id=Liquidity%20Ratios) Inventory turnover days slightly increased by 2 days to 106 days, trade receivables turnover days increased by 6 days to 72 days due to domestic business expansion, and trade payables turnover days slightly increased by 1 day to 72 days, while the current ratio slightly decreased by 0.8 percentage points to 262.6% 2025 H1 Liquidity Ratios | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Inventory Turnover Days | 106 | 104 | +2 days | | Trade Receivables Turnover Days | 72 | 66 | +6 days | | Trade Payables Turnover Days | 72 | 71 | +1 day | | Current Ratio | 262.6% | 263.4% | -0.8pp | - The increase in trade receivables turnover days is mainly due to the expansion of domestic business, where domestic sales customers enjoy longer credit terms[56](index=56&type=chunk) [Pledged Assets](index=20&type=section&id=Pledged%20Assets) As of June 30, 2025, the Group had no pledged assets - The Group had **no pledged assets** as of June 30, 2025, and December 31, 2024[59](index=59&type=chunk) [Risk Management and Capital Structure](index=20&type=section&id=Risk%20Management%20and%20Capital%20Structure) The company prudently manages foreign exchange risk through natural hedging and close monitoring of exchange rate fluctuations, maintaining an unchanged capital structure primarily composed of ordinary shares and other reserves [Foreign Exchange Risk Management](index=20&type=section&id=Foreign%20Exchange%20Risk%20Management) The company primarily faces foreign exchange risks from USD, EUR, and RMB, managed prudently through CEO-approved policies, CFO-executed daily management, and natural hedging, with regular policy reviews - Primary foreign exchange risks: **USD, EUR, and RMB**[60](index=60&type=chunk) - Management Strategy: Policies approved by the CEO, daily management executed by the CFO, primarily using prudent measures such as **natural hedging**, with regular evaluations and reviews[60](index=60&type=chunk) [RMB Exchange Rate Risk](index=20&type=section&id=RMB%20Exchange%20Rate%20Risk) The company's revenue is primarily denominated in USD, EUR, RMB, and HKD, while expenses are mainly in RMB, with no RMB hedging agreements currently in place - Revenue is primarily denominated in **USD, EUR, RMB, and HKD**, while expenses are mainly in **RMB**[61](index=61&type=chunk) - No RMB hedging agreements have been entered into[61](index=61&type=chunk) [Capital Structure](index=20&type=section&id=Capital%20Structure) The company's capital structure remained unchanged during the period, consisting mainly of ordinary shares and other reserves - The capital structure remained **unchanged** during the period, comprising ordinary shares and other reserves[62](index=62&type=chunk) [Material Capital Investment Plans](index=20&type=section&id=Material%20Capital%20Investment%20Plans) The company plans to invest in capacity expansion and projects as outlined in the prospectus to capture future business growth, primarily funded by internal resources - Plans to invest in **capacity expansion and investment projects** to capture future business growth[63](index=63&type=chunk) - Future funding sources will primarily be **internal resources**[63](index=63&type=chunk) [Employees and Remuneration Policies](index=21&type=section&id=Employees%20and%20Remuneration%20Policies) As of June 30, 2025, the company had 3,861 full-time employees and 292 dispatched workers, offering competitive remuneration, a share award scheme, training, and mandatory social security contributions for Chinese employees Employee Count Comparison | Employee Type | 2025 June 30 | 2024 Dec 31 | | :--- | :--- | :--- | | Full-time Employees | 3,861 | 3,687 | | Dispatched Workers | 292 | 114 | - Remuneration Policy: Offers competitive remuneration packages, a share award scheme, and training and development programs[64](index=64&type=chunk) - Benefits for Chinese Employees: Contributes to mandatory social security funds (pension, medical, unemployment, work injury, maternity insurance, and housing provident fund)[64](index=64&type=chunk) [Material Acquisitions and Disposals](index=21&type=section&id=Material%20Acquisitions%20and%20Disposals) For the six months ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries - No material acquisitions or disposals of subsidiaries occurred during the period[65](index=65&type=chunk) [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - The Group had **no material contingent liabilities** as of June 30, 2025, and December 31, 2024[66](index=66&type=chunk) [Outlook](index=22&type=section&id=Outlook) For the second half, global economic uncertainty persists, but China's economy is expected to remain stable; the company will pursue technological innovation, deepen TactoTek collaboration for IMSE® technology, target AI-driven consumer electronics, enhance global supply chain resilience with a "China + Vietnam" strategy, and implement strategic upgrades with BCG to drive innovation and consolidate market leadership - Macroeconomic Outlook: High global economic uncertainty, with the World Bank lowering 2025 global GDP growth forecast to **2.3%**; China's economy is expected to continue its stable and improving trend, with GDP growth forecast maintained at **4.5%**, and policy stimuli expected to boost H2 consumer demand[67](index=67&type=chunk) - Technological Innovation: Strategic cooperation with Finland's TactoTek, obtaining IMSE® technology patent license, becoming the first local Chinese automotive-grade IMSE® electrical functional film supplier, with IMSE® production lines deployed, shortening product development cycles by over **50%**[68](index=68&type=chunk) - Market Opportunities: AI large model technology drives innovation in smart terminal industries, with consumer electronics (mobile phones, AR, AIPC, smart home) becoming key for AI implementation; the company has entered the supply chain of a metaverse industry leader, supporting AR glasses R&D[69](index=69&type=chunk) - Supply Chain Layout: Completed "China + Vietnam" dual production base deployment, with Vietnam factory expanded by **5,000 square meters** to enhance global supply chain resilience; domestic production bases (Suzhou, Shenzhen Guangming District) upgraded, expanding capacity, and strengthening medical consumables cleanrooms and mould manufacturing technology[70](index=70&type=chunk) - Strategic Upgrade: Engaged Boston Consulting Group (BCG) for an organizational diagnosis and strategic upgrade project to identify improvement areas and formulate solutions[71](index=71&type=chunk) - Future Development: Responding to the national "new quality productive forces" strategy, optimizing production management with data middle platform, AI, and Industry 4.0 technologies to improve efficiency and reduce costs; maintaining rigorous financial management to consolidate leading strengths in innovative technology and high-end manufacturing[72](index=72&type=chunk) [Other Information](index=24&type=section&id=Other%20Information) [Purchase, Sale or Redemption of the Company’s Listed Securities](index=24&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%E2%80%99s%20Listed%20Securities) For the six months ended June 30, 2025, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities - Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the period[73](index=73&type=chunk) [Post Balance Sheet Events](index=24&type=section&id=Post%20Balance%20Sheet%20Events) No material post balance sheet events affecting the Group occurred from June 30, 2025, up to the date of this announcement - No material post balance sheet events occurred from the end of the reporting period until the announcement date[74](index=74&type=chunk) [Corporate Governance Code](index=24&type=section&id=Corporate%20Governance%20Code) The Board is committed to maintaining and promoting investor confidence and sustainable development, has established appropriate corporate governance policies, and believes it complied with all code provisions in Appendix C1 of the HKEX Listing Rules for the six months ended June 30, 2025 - The company is committed to strengthening corporate governance measures to ensure transparency and accountability[75](index=75&type=chunk) - The Board believes it complied with all code provisions of the Corporate Governance Code set out in Appendix C1 of the HKEX Listing Rules during the period[76](index=76&type=chunk) [Audit Committee](index=25&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, has reviewed the Group's accounting policies, risk management, internal controls, and financial reporting matters, including this interim financial information - The Audit Committee, composed of three independent non-executive directors, has reviewed accounting policies, risk management, internal controls, and financial reporting matters, including this interim financial information[77](index=77&type=chunk) [Declaration and Payment of Dividends](index=25&type=section&id=Declaration%20and%20Payment%20of%20Dividends) The Board resolved on August 18, 2025, to declare an interim dividend of HKD 4.3 cents per share for the six months ended June 30, 2025, totaling HKD 35,830,180, payable on September 17, 2025 - The Board resolved to declare an interim dividend of **HKD 4.3 cents per share**, totaling **HKD 35,830,180**[78](index=78&type=chunk) - The interim dividend is expected to be paid on **September 17, 2025**, to shareholders whose names appear on the register of members on August 29, 2025[78](index=78&type=chunk) [Closure of Register of Members](index=25&type=section&id=Closure%20of%20Register%20of%20Members) To determine eligibility for the interim dividend, the company will suspend share transfer registration from August 28 to August 29, 2025; unregistered shareholders must register by 4:30 p.m. on August 27, 2025 - Share transfer registration suspension dates: **August 28 to August 29, 2025** (both days inclusive)[79](index=79&type=chunk) - Deadline for registration to qualify for the dividend: **4:30 p.m. on August 27, 2025**[79](index=79&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=26&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) The interim results announcement has been published on the HKEX and company websites, and the interim report will be dispatched to shareholders and published on the same websites in due course - The interim results announcement has been published on the HKEX website (www.hkexnews.hk) and the company's website (www.tkmold.com)[80](index=80&type=chunk) - The interim report will be dispatched to shareholders and published on the aforementioned websites in due course[81](index=81&type=chunk)
东江集团控股(02283.HK)将于8月18日举行董事会会议以审批中期业绩
Ge Long Hui· 2025-08-01 10:16
格隆汇8月1日丨东江集团控股(02283.HK)公告,公司将于2025年8月18日(星期一)举行董事会会议,其 中议程包括考虑及批准通过刊发公司及其附属公司截至2025年6月30日止6个月的中期业绩公告,以及考 虑派发中期股息(如有)。 ...
东江集团控股(02283) - 董事会会议召开日期
2025-08-01 10:07
東江集團(控股)有限公司(「本公司」)董事會(「董事會」)謹此宣佈,本公司將於2025年 8月18日(星期一)舉行董事會會議,其中議程包括考慮及批准通過刊發本公司及其附屬公 司截至2025年6月30日止六個月的中期業績公告,以及考慮派發中期股息(如有)。 承董事會命 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的內容概不負責,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。 TK GROUP (HOLDINGS) LIMITED 東江集團(控股)有限公司 (於開曼群島註冊成立的有限公司) (股份代號: 2283) 董事會會議召開日期 東江集團(控股)有限公司 主席 李沛良 香港,2025年8月1日 於本公告日期,董事會包括四名執行董事,分別為李沛良先生、翁建翔先生、李良耀先 生及張芳華先生,以及三名獨立非執行董事,分別為鍾志平博士、梁蘊莊女士及曾華光 先生。 ...
东江集团控股(02283) - 截至二零二五年七月三十一日止之股份发行人的证券变动月报表
2025-08-01 01:59
股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 東江集團(控股)有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02283 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | 本月底法定/註冊 ...
华音国际控股近四个交易日累计涨超7倍;东江集团控股拟收购一幅越南地块丨港交所早参
Mei Ri Jing Ji Xin Wen· 2025-06-04 01:02
Group 1 - Huayin International Holdings has seen its stock price surge over 700% in the last four trading days, with a significant increase of 136.21% on June 3, reaching a price of 1.37 HKD per share. The company plans to change its name to "China Changbai Mountain Resource Development and Construction Co., Ltd." and diversify its business by leveraging resources in Jilin Province, including ginseng and mineral water [1] - The completion of a share reduction plan by shareholder Xing'an Investment for Andeli Juice, resulting in the sale of 2.62 million shares, which is 0.77% of the company's total share capital. The reduction occurred at prices ranging from 36.36 HKD to 58.12 HKD per share, totaling approximately 108 million HKD [2] - Dongjiang Group Holdings has signed a letter of intent to acquire land use rights in Hai Duong Province, Vietnam, for approximately 26.76 million HKD. This land is intended for infrastructure operations and investment projects, with a usage term until 2071 [3] Group 2 - The Hong Kong Securities and Futures Commission has reached a settlement with former directors of Kongbai Holdings, resulting in a compensation of 192 million HKD to be distributed as a special dividend to public shareholders, amounting to 0.066 HKD per share, which is 2.75 times higher than the closing price before suspension [4] - The Hang Seng Index closed at 23,512.49, reflecting a gain of 1.53% on June 3. The Hang Seng Tech Index and the National Enterprises Index also saw increases of 1.08% and 1.92%, respectively [6]
东江集团控股(02283) - 2024 - 年度财报
2025-04-17 10:21
Financial Performance - Revenue for 2024 reached HK$2,358,290,000, a 21.2% increase from HK$1,945,721,000 in 2023[12] - Profit for the year decreased to HK$204,191,000 from HK$261,850,000, representing a decline of 22.0%[12] - Basic earnings per share increased to HK$0.32 from HK$0.25, marking a growth of 28.0%[12] - Proposed final dividend per share increased to 8.8 HK cents from 7.5 HK cents, a rise of 17.3%[12] - Gross profit margin improved slightly to 26.5% from 26.4%[12] - Net profit margin decreased to 10.5% from 11.1%[12] - Return on equity increased to 15.3% from 12.1%, indicating improved profitability relative to equity[12] - The total dividend for the year amounted to HK$22.8 cents per share, representing a dividend payout ratio of 72.6%[30] - Gross profit for the year increased by 22.0% to HK$625.8 million, with a gross profit margin of 26.5%, up from 26.4% in 2023[51] - Profit for the year rose by 28.2% to HK$261.9 million, with a net profit margin of 11.1%, an increase from 10.5% in 2023[51] Operational Efficiency - The inventory turnover days improved to 87 days from 102 days, indicating better inventory management[12] - Trade receivable turnover days decreased to 56 days from 58 days, reflecting improved collection efficiency[12] - Inventory turnover days decreased to 87 days in 2024 from 102 days in 2023, indicating improved efficiency[105] - Trade receivable turnover days decreased to 56 days in 2024 from 58 days in 2023[107] - Trade payable turnover days decreased to 55 days in 2024 from 61 days in 2023[108] Market Outlook and Strategy - The company remains cautiously optimistic about the market outlook for 2025, focusing on technological research and innovation while expanding production capacity[28] - The global market has shown signs of recovery, with inflation levels falling and economic austerity policies being relaxed, improving the overall market atmosphere[29] - TK Group's proactive layout and flexible response strategies have allowed it to expand its market share and customer portfolio during the recovery phase[23] - The Group plans to continue exploring opportunities in the medical and general health industries, despite some orders being affected by U.S. tariffs[67] - The Group is focusing on expanding production capacity in China and Vietnam to meet increasing market demand for high-precision plastic components[34] Technological Development - The company plans to continue investing in high-precision mold technologies and diversify its plastic injection molding-related technologies and service solutions[20] - The Group is integrating AI technology and big data analysis into its production processes to enhance efficiency and product quality[38] - The Group is committed to technological breakthroughs and innovation, focusing on product innovation and technology upgrades to meet market demand[135] - The Group is leveraging technologies like data platforms and artificial intelligence to optimize process management and improve production stability[142] Corporate Governance - The company has complied with all code provisions set out in the Corporate Governance Code during the year ended December 31, 2024[181] - The Group's commitment to corporate governance is reflected in its structured management and oversight committees, including the Audit and Nomination Committees[156] - The independent non-executive Directors have confirmed their independence in accordance with Rule 3.13 of the Listing Rules[198] - The company is committed to strengthening its corporate governance practices to enhance transparency and accountability[179] Leadership and Management - The Group's management team includes individuals with extensive experience in their respective fields, enhancing operational effectiveness and strategic planning[149][151][152] - The leadership team's combined experience exceeds 150 years in the industry, positioning the company for sustained growth and innovation[149][151][152] - The Board currently comprises 7 members, including 4 executive Directors and 3 independent non-executive Directors[187] - The independent non-executive directors contribute to the effective operation of the board with their extensive business and financial expertise[200] Expansion Plans - The Group plans to quadruple the production area of its Vietnam factory to enhance supply chain resilience and meet increasing market demand[139] - The Vietnam factory will replicate high-quality plastic injection molding capabilities from the Chinese production base to ensure efficient large-scale production[140] - The Group is intensifying strategic cooperation with consumer electronics brands and increasing investment in new product development to meet expanding market demand[136]
东江集团控股(02283) - 2024 - 年度业绩
2025-03-17 12:49
Financial Performance - Revenue for the year ended December 31, 2024, increased to HKD 2,358,290,000, up 21.2% from HKD 1,945,721,000 in 2023[4] - Net profit for the year was HKD 261,850,000, representing a 28.3% increase compared to HKD 204,191,000 in the previous year[4] - Basic earnings per share rose to HKD 0.32, up from HKD 0.25, reflecting a 28% increase[4] - Total revenue for the year 2024 reached HKD 2,490,253,000, an increase of 20.8% from HKD 2,062,578,000 in 2023[18] - The net profit for 2024 was HKD 261,850,000, representing a 28.3% increase compared to HKD 204,191,000 in 2023[22] - Basic earnings per share increased to HKD 0.32 in 2024 from HKD 0.25 in 2023, reflecting a growth of 28%[22] - Gross profit for the year ending December 31, 2024, was approximately HKD 625.8 million, up 22.0% from HKD 512.8 million in 2023, with a gross margin increase to 26.5%[55] - Net profit increased by 28.2% to HKD 261.9 million, with a net profit margin of 11.1%, up 0.6 percentage points from 10.5% in 2023[39] Dividends - Proposed final dividend per share is HKD 0.088, an increase from HKD 0.075 in the previous year, while special dividend remains at HKD 0.10[4] - The company declared an interim dividend of HKD 0.04 per share, up from HKD 0.028 per share in 2023, marking a 42.9% increase[25] - The board of directors proposed a final dividend of HKD 0.088 per share and a special dividend of HKD 0.10 per share, totaling HKD 73,326,880 and HKD 83,326,000 respectively[98] - The total annual dividend per share for the year ending December 31, 2024, is proposed to be HKD 0.228[98] - The company will ensure compliance with applicable laws and regulations regarding dividend payments[98] Profitability and Margins - Gross profit margin improved slightly to 26.5% from 26.4% year-on-year[4] - The gross profit rose by 22.0% to HKD 625.8 million, with a gross margin of 26.5%, up 0.1 percentage points from 26.4% in 2023[39] - The company reported a significant increase in orders, with sales orders reaching HKD 889.1 million, a 7.0% increase from HKD 830.6 million in 2023[40] - The injection molding segment's revenue was approximately HKD 1,660.1 million, up 25.2% from HKD 1,326.1 million in 2023, accounting for 70.4% of total revenue[46] - The mobile and wearable devices sector saw revenue growth of 41.7%, driven by new product launches from wireless earphone and smart bracelet brands[46] - The mold manufacturing business generated revenue of approximately HKD 698.2 million, a 12.7% increase from HKD 619.6 million in 2023, representing 29.6% of total revenue[41] Assets and Liabilities - Total assets increased to HKD 2,576,743,000 from HKD 2,451,591,000, showing a growth of 5.1%[9] - Current ratio decreased to 263.4% from 276.0%, while quick ratio also declined to 209.2% from 222.9%[4] - The company fully repaid its bank borrowings during the year, resulting in a debt-to-equity ratio of 0%[4] - The group’s current assets as of December 31, 2024, were approximately HKD 1,264.7 million, compared to HKD 1,193.1 million in 2023[66] - Trade payables rose to HKD 292,330,000 in 2024, compared to HKD 227,712,000 in 2023, indicating an increase of 28.4%[31] - Trade and other receivables rose to HKD 454,266,000 from HKD 352,814,000, reflecting a significant increase of 28.8%[8] Taxation - The company reported a total tax expense of HKD 71,359,000 for 2024, significantly higher than HKD 32,803,000 in 2023, reflecting a 117% increase[19] - The actual tax rate for the year ending December 31, 2024, was 21.4%, an increase of 7.6 percentage points from 13.8% in 2023[64] Operational Efficiency - The inventory turnover days decreased to 87 days in 2024, down 15 days from 102 days in 2023, primarily due to significant growth in the injection molding segment[70] - Trade payables turnover days decreased by 6 days to 55 days as of December 31, 2024, compared to 2023[72] - The company reduced administrative expenses to 12.9% of total revenue, down from 14.1% in 2023[39] Future Outlook and Strategy - The company anticipates continued growth in revenue and profitability for the upcoming fiscal year, driven by market expansion and new product development initiatives[18] - The group plans to expand production capacity in Vietnam, increasing the factory area by four times to meet rising market demand[88] - The group is enhancing its manufacturing capabilities in Suzhou and Shenzhen to improve production efficiency and meet stringent design requirements[88] - The group is actively exploring vertical integration opportunities and potential acquisitions to provide comprehensive solutions to customers[85] - The company is committed to enhancing core competitiveness to respond to market changes and is leveraging data platforms and AI technologies to optimize production management[90] - The company aims to maintain sufficient cash flow and implement rigorous financial management strategies in a high-interest rate environment[90] Governance and Compliance - The audit committee has reviewed the financial reporting procedures and risk management systems to ensure adequate resources and qualified personnel[94] - The company has adopted corporate governance policies to enhance transparency and accountability in its operations[92] - The group has no significant contingent liabilities as of December 31, 2024, consistent with 2023[82] - The group has no pledged assets as of December 31, 2024, consistent with 2023[74] - The group has no significant acquisitions or disposals as of December 31, 2024, same as in 2023[81] Market Conditions - Global economic growth is projected at 3.3% for 2025, with China's growth forecast raised to 4.6% due to fiscal stimulus[84] - The overall revenue of the medical and personal care segment increased by 0.2% for the year ending December 31, 2023, with personal care brand customer revenue rising significantly by 34.5%[48] Shareholder Information - The company will suspend share transfer registration from May 20 to May 23, 2025, for the upcoming annual general meeting[100] - The annual performance announcement for the year ending December 31, 2024, will be available on the company's website and the stock exchange[102]
东江集团控股:Pave way for future growth
Xin Da Guo Ji Kong Gu· 2025-02-06 14:48
Investment Rating - The report maintains a "BUY" rating for TK Group (Holdings) Limited with a target price of HK$2.48, indicating an upside potential of 28.6% from the current price of HK$1.93 [1]. Core Insights - TK Group expects a net profit growth of over 20% year-on-year for FY24E, with preliminary results aligning closely with estimates at approximately HK$260 million [2]. - The growth is attributed to a rebound in overseas business, significant revenue growth from domestic operations, and over 20% year-on-year growth in the plastic components segment, particularly from mobile phones and wearable devices [2]. - The company has a stable order book of approximately HK$900-1,000 million, supported by demand from mobile phones, wearables, and other sectors, which accounted for over 60% of the total order book in 1H24 [4]. - TK Group's client diversification is progressing well, with new orders from leading brands in the headset and professional audio sectors [5]. Financial Performance and Projections - The financial position remains strong, with net operating cash inflow of approximately HK$150 million and a net cash position of around HK$1.06 billion, representing about 65% of the market cap [6]. - FY24E capital expenditures are expected to be similar to FY23, around HK$70-80 million, with a planned increase in FY25E for capacity expansion [7]. - Revenue and net profit are projected to grow at a compound annual growth rate (CAGR) of 12.8% and 15.9% respectively from FY23 to FY26E [11]. - The report anticipates a dip in free cash flow in FY25E due to increased capital expenditures, but expects normalization in FY26E/27E [12]. Market Position and Valuation - TK Group is positioned as a leading total plastics solutions provider in China, with a strong client base including major global brands [9]. - The valuation remains undemanding, with a FY25E price-to-earnings ratio of 6.0x, which is approximately 50% lower than Hong Kong and international peers [11]. - The report highlights that TK Group's dividend payout ratio is expected to remain above 40%, translating to a dividend yield of 13.4% in FY24E [12].
东江集团控股(02283) - 2024 - 年度业绩
2024-10-17 09:39
Share Awards - The total number of shares awarded to the top five highest-paid individuals in the group as of December 31, 2023, is 924,279 shares[2]. - The fair value of shares awarded in 2023 is HKD 1.53 per share, with a total of 271,448 shares awarded during the year[2]. - The total number of shares awarded to other employee participants is 5,387,730 shares, with 1,675,094 shares unvested as of December 31, 2023[2]. - The total number of shares awarded in 2024 is 6,312,009 shares, with 5,263,630 shares unvested as of June 30, 2024[5]. - The fair value of shares awarded in 2020 is HKD 2.76 per share, with a total of 1,270,320 shares unvested as of June 30, 2024[5]. - The total number of shares unvested for the top five highest-paid individuals is 52,005 shares as of December 31, 2023[2]. - The total number of shares unvested for other employee participants is 4,578,000 shares as of December 31, 2023[2]. - No shares were awarded to any directors during the reporting periods[3][6]. Company Information - The company has not disclosed any new product developments or market expansions in the provided reports[1][4]. - The company continues to maintain all other information in the annual and interim reports unchanged, aside from the disclosed share award details[4][6].
东江集团控股(02283) - 2024 - 中期财报
2024-09-19 04:01
Financial Performance - Revenue for the six months ended June 30, 2024, was HK$1,007,209,000, representing a 17.6% increase from HK$855,914,000 in the same period of 2023[15]. - Profit for the period increased to HK$79,742,000, up 45.7% from HK$54,699,000 in the prior year[15]. - Basic earnings per share rose to 9.6 HK cents, compared to 6.6 HK cents in the previous year, reflecting a 45.5% increase[15]. - Proposed interim dividend per share increased to 4.0 HK cents, up from 2.8 HK cents, marking a 42.9% rise[15]. - Gross profit margin improved to 24.8%, up from 23.3% in the previous year[15]. - Net profit margin increased to 7.9%, compared to 6.4% in the same period last year[15]. - Return on equity rose to 5.1%, up from 3.6% in the previous year[15]. - Return on assets improved to 3.2%, compared to 2.2% in the prior year[15]. - Gross profit for the first half of 2024 was approximately HK$250.0 million, representing an increase of approximately HK$50.3 million or 25.2% compared to HK$199.7 million in the same period of 2023[42]. - Operating profit increased to HK$102,045,000, a 50.4% rise compared to HK$67,977,000 in the previous year[124]. Revenue Breakdown - Revenue from the mold fabrication business was approximately HK$268.9 million, a 2.1% increase from HK$263.2 million in the same period last year, accounting for 26.7% of total revenue[27]. - The mobile phones and wearable devices segment generated revenue of HK$326.2 million, a 51.2% increase from HK$215.7 million in the first half of 2023[21]. - The commercial telecommunications equipment segment saw revenue rise by 44.2% to HK$90.0 million from HK$62.4 million in the previous year[21]. - The plastic components manufacturing business segment generated revenue of approximately HK$738.3 million, a 24.6% increase from HK$592.7 million in the first half of 2023, accounting for approximately 73.3% of the Group's total revenue[33][35]. - Revenue from the personal health care brand customer increased by 18.2%, while revenue from medical consumables for in-vitro diagnostics and blood glucose monitoring rose by 38.6%[38][40]. Cost and Expenses - Selling expenses increased by approximately HK$6.2 million or 22.0% to HK$34.3 million, representing 3.4% of total revenue[48]. - Administrative expenses rose by approximately HK$10.1 million or 8.1% to HK$135.5 million, accounting for 13.5% of total revenue[49]. - Total cost of sales, selling expenses, and administrative expenses rose to HK$927,029,000 in 2024, up from HK$809,721,000 in 2023, a 14.5% increase[165]. - Employee benefit expenses increased to HK$332,941,000 in 2024 from HK$277,017,000 in 2023, a rise of 20%[165]. - Raw materials and consumables used rose to HK$381,488,000 in 2024, compared to HK$287,212,000 in 2023, an increase of 32.8%[165]. Cash Flow and Assets - The Group's net cash position improved to HK$1,060.5 million, a 13.3% increase from HK$935.7 million as of June 30, 2023[25]. - Cash and cash equivalents decreased to HK$1,060,484,000 from HK$1,158,156,000, a decline of 8.4%[127]. - Net cash generated from operating activities for the six months ended June 30, 2024, was HK$145,324, a decrease of 16.7% compared to HK$174,316 in the same period of 2023[133]. - The company reported a net decrease in cash and cash equivalents of HK$92,474 for the period, compared to a decrease of HK$4,347 in the previous year[133]. - Current assets included a total of HK$457,268,000 in inventories, up from HK$360,082,000, marking a 27% increase[181]. Shareholder Information - As of June 30, 2024, Mr. Li Pui Leung holds 54.90% of the shares, while Mr. Yung Kin Cheung Michael and Mr. Lee Leung Yiu hold 6.67% and 6.44% respectively[93]. - The Group's share capital as of June 30, 2024, was HK$833,260,000 with a share premium of HK$251,293,000[188]. - The number of awarded shares as of June 30, 2024, decreased to 5,263,630 from 6,312,009 as of January 1, 2024[195]. - The Group's total consideration for shares held under the employee share scheme was HK$13,103,000 as of June 30, 2024, down from HK$17,679,000[190]. Market Outlook - The global GDP growth rate for 2024 is expected to be revised upwards to 2.6%, indicating a steady state of growth in the global economy[82]. - The consumer electronics industry is anticipated to see a significant rebound in the second half of the year, with brand owners preparing for new product launches[82]. - The Group remains optimistic about the long-term development of the medical and health care industry and will continue to explore well-known medical brand customers in both domestic and overseas markets[38][40]. - The Group's implementation of Industry 4.0 has significantly enhanced production efficiency and market competitiveness, contributing to the overall growth in revenue and profit margins[43]. Corporate Governance - The company complied with all code provisions of the Corporate Governance Code during the six months ended June 30, 2024[100]. - The company is committed to strengthening corporate governance measures to ensure transparency and accountability[100]. - The interim financial information has been approved for issue by the Board of Directors on August 26, 2024[134].