Financial Performance - Revenue for the year ended March 31, 2024, was HKD 5,837,373, a decrease of 1.0% compared to HKD 5,896,349 in 2023[2] - Gross profit for the same period was HKD 1,588,260, down 0.5% from HKD 1,596,687, with a gross margin of 27.2%[2] - Operating profit decreased by 2.8% to HKD 658,751, resulting in an operating margin of 11.3%[2] - Net profit for the year was HKD 517,739, a decline of 2.7% from HKD 532,235, with a net margin of 8.9%[2] - The company reported a basic and diluted earnings per share of 35.3 HK cents, down 8.8% from 38.7 HK cents[2] - The company reported a net profit attributable to shareholders of HKD 484,118,000 for the fiscal year ending March 31, 2024, compared to HKD 532,235,000 in the previous year, reflecting a decrease of approximately 9.0%[30] - Basic earnings per share decreased to HKD 35.3 from HKD 38.7 year-over-year, indicating a decline of about 8.8%[31] Assets and Liabilities - Total assets increased by 27.7% to HKD 10,905,823 from HKD 8,539,878 in the previous year[2] - Total equity increased to HKD 4,016,099, a rise of 4.2% from HKD 3,855,716[2] - The company reported a total liability of HKD 6,889,724,000 as of March 31, 2024, compared to HKD 4,684,162,000 in 2023, reflecting an increase of approximately 47.2%[18] - The total outstanding borrowings amounted to HKD 1,792,919,000 as of March 31, 2024, up from HKD 1,641,046,000 a year earlier, with approximately 86.9% classified as short-term loans[57] Cash Flow - Net cash generated from operating activities for the year ended March 31, 2024, was HKD 65,939,000, a decrease of 33.8% compared to HKD 99,375,000 in 2023[9] - Net cash used in investing activities was HKD (505,103,000), an improvement from HKD (540,635,000) in the previous year[9] - Net cash generated from financing activities significantly increased to HKD 2,225,304,000 from HKD 502,526,000 in 2023, indicating a strong financing position[9] - The total cash and cash equivalents at the end of the year reached HKD 2,375,176,000, up from HKD 605,365,000 in 2023, reflecting a net increase of HKD 1,786,140,000[9] Segment Performance - Revenue from the die-casting segment was HKD 4,243,537,000, while the injection molding segment generated HKD 1,425,401,000, and the CNC machining center contributed HKD 168,435,000, totaling HKD 5,837,373,000 in external sales[14] - The overall segment performance resulted in a profit of HKD 640,826,000 before tax, with the die-casting segment contributing HKD 541,180,000[14] - The company reported a decrease in external sales from the die-casting segment by 4.2% compared to the previous year, which was HKD 4,427,861,000[14] - Revenue from the injection molding machines segment increased to HKD 1,425,401,000 in 2024, up from HKD 1,191,013,000 in 2023, marking a growth of approximately 19.7%[24] Research and Development - Research costs surged to HKD 89,859,000 in 2024, up from HKD 27,958,000 in 2023, indicating a focus on innovation and development[22] - The company expanded its R&D team to 678 members, a year-on-year increase of 23.95%[44] - Research and development investment increased significantly to HKD 214 million, a year-on-year growth of 58.3%, indicating a strong commitment to innovation and technology development[44] Corporate Governance and Compliance - The company has not adopted several new accounting standards that are expected to have no significant impact on current or future reporting periods[12] - The company has complied with the corporate governance code as of March 31, 2024[67] - The audit committee, consisting of four independent non-executive directors, has reviewed the consolidated financial statements for the year ended March 31, 2024[69] - The company’s financial statements have been verified by its auditors, PricewaterhouseCoopers, but they do not provide an opinion on the preliminary announcement[70] Strategic Initiatives - The company has implemented an EPC model that optimizes production processes, improving efficiency and reducing operational costs, which is expected to enhance market competitiveness[54] - The introduction of a customized production simulation service is anticipated to become a key revenue growth channel for the company, helping clients visualize production outcomes[54] - The company’s strategy includes a focus on expanding domestic demand and consumer promotion policies to improve economic conditions[38] Market Trends - In 2023, China's new energy vehicle sales reached approximately 9.495 million units, a year-on-year increase of 37.9%, with a market penetration rate of 31.6%[39] - The global electric vehicle sales are projected to exceed 70 million units by 2030, with China, Europe, and the United States leading this growth[39] - The Ministry of Industry and Information Technology's policy to promote equipment upgrades is expected to stimulate demand in the industrial manufacturing sector, benefiting the company's injection molding business[56] Shareholder Information - The company plans to propose a final dividend of HKD 0.05 per share, totaling HKD 68,819,000 for the fiscal year ending March 31, 2024[29] - The interim dividend of HKD 0.045 per share was paid on January 9, 2024, and the proposed final dividend is HKD 0.05 per share, subject to shareholder approval on September 6, 2024[65] - The company will hold its annual general meeting on September 6, 2024, to discuss various matters including the proposed final dividend[72]
力劲科技(00558) - 2024 - 年度业绩