Financial Performance - Revenue for the year ended March 31, 2023, was HKD 5,896,349 thousand, representing a 10.0% increase from HKD 5,362,474 thousand in 2022[2] - Gross profit increased to HKD 1,596,687 thousand, with a gross margin of 27.1%, down from 29.2% in the previous year[2] - Operating profit decreased by 14.5% to HKD 677,474 thousand, with an operating margin of 11.5% compared to 14.8% in 2022[2] - Net profit attributable to shareholders was HKD 532,235 thousand, a decline of 14.9% from HKD 625,509 thousand in the prior year[2] - The company reported a net profit margin of 9.0%, down from 11.7% in the previous year[2] - Basic and diluted earnings per share decreased to HKD 38.7, down 15.1% from HKD 45.6 in 2022[2] - The group reported a total profit attributable to owners of the company of 532,235,000 HKD for the year ending March 31, 2023, down from 625,509,000 HKD, which is a decrease of approximately 14.9%[32] Assets and Liabilities - Total assets increased by 12.4% to HKD 8,539,878 thousand, up from HKD 7,599,524 thousand in 2022[2] - Total liabilities as of March 31, 2023, were HKD 3,896,525,000, with allocated liabilities of HKD 3,840,514,000[19] - Total borrowings rose significantly by 50.7% to HKD 1,641,046 thousand, compared to HKD 1,088,637 thousand in the previous year[2] - The debt-to-equity ratio was approximately 26.9% as of March 31, 2023, compared to 13.8% on March 31, 2022[54] - The total outstanding borrowings were HKD 1,641,046,000 as of March 31, 2023, up from HKD 1,088,637,000 on March 31, 2022, with about 84.6% being short-term loans[54] Segment Performance - Revenue from the die-casting segment was HKD 4,427,861,000, representing a 15.9% increase from HKD 3,816,178,000 in the previous year[15] - Revenue from the injection molding segment was HKD 1,191,013,000, a decrease of 12.7% from HKD 1,365,111,000 in the previous year[15] - CNC machining center revenue was HKD 277,475,000, up from HKD 181,185,000, marking a 53.2% increase year-over-year[15] - Total segment revenue for the year was HKD 6,019,468,000, an increase of 12.2% compared to HKD 5,453,010,000 in the previous year[15] Cash Flow and Financing - Net cash generated from operating activities for the year ended March 31, 2023, was HKD 99,375,000, a decrease of 45.4% from HKD 182,703,000 in 2022[9] - Cash and cash equivalents increased by 5.0% to HKD 605,365 thousand, compared to HKD 576,790 thousand in the previous year[2] - The group’s financing income was HKD 6,760,000, while financing costs totaled HKD 53,936,000, leading to a net financing cost of HKD 47,176,000[15] - The company reported a net financing cost of HKD 53,936,000 for the year ending March 31, 2023, compared to HKD 33,572,000 in the previous year[26] Employee and Operational Costs - Employee costs for the year ending March 31, 2023, were HKD 960,485,000, compared to HKD 873,032,000 in the previous year[25] - Depreciation and amortization expenses for the year ending March 31, 2023, totaled HKD 185,482,000[20] - The company aims to optimize supply chain management to reduce procurement costs and improve logistics efficiency[51] - The company is focusing on digital transformation and automation to enhance production efficiency and reduce labor costs[51] Research and Development - The company plans to enhance its R&D investment and innovation to maintain its leading technological advantage in the industry[52] - The company has over 300 patents and has participated in the formulation of 2 international standards, 18 national standards, 8 industry standards, and 2 group standards[52] - The company is focusing on research and development of large and super-large die-casting machines for automotive chassis, aligning with industry trends[48] Market and Strategic Initiatives - The company is strategically expanding its overseas market presence to enhance competitiveness and solidify its industry leadership[40] - The company plans to expand its overseas market presence by establishing new production bases and service centers in regions like Mexico, India, and Eastern Europe[49] - The company has successfully established strategic partnerships with several new energy vehicle manufacturers, enhancing its customer base in the automotive sector[44] - The demand for energy storage solutions is increasing significantly, with the company positioning itself to capitalize on this growth through integrated die-casting technology[48] Corporate Governance - The company has adhered to the corporate governance code as of March 31, 2023[64] - The Audit Committee, consisting of four independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending March 31, 2023[66] - The financial data for the year ending March 31, 2023, has been verified by the auditor, PricewaterhouseCoopers, but no audit opinion was issued on the preliminary announcement[67] Upcoming Events - The company will hold its Annual General Meeting on September 6, 2023, and will suspend share registration from September 1 to September 6, 2023[62] - To qualify for the final dividend, share registration will be suspended from September 14 to September 18, 2023, with documents due by September 13, 2023[63]
力劲科技(00558) - 2023 - 年度业绩