FIT HON TENG(06088) - 2024 - 年度业绩

Financial Performance - Revenue for the year ended December 31, 2024, was $4,451 million, an increase of 6.1% compared to$ 4,196 million for the year ended December 31, 2023[4] - Profit for the year ended December 31, 2024, was $154 million, up 19.1% from$ 130 million for the year ended December 31, 2023[4] - Basic earnings per share attributable to the company's owners for the year ended December 31, 2024, was 2.17 cents, a 19.2% increase from 1.82 cents for the year ended December 31, 2023[4] - Total comprehensive income for the year ended December 31, 2024, was $38 million, down from$ 90 million for the year ended December 31, 2023[6] - The company reported a gross profit of $878,646 thousand for 2024, compared to$ 807,140 thousand in 2023, reflecting an increase of approximately 8.8%[20] - The net profit before tax was $220,534 thousand for 2024, compared to$ 179,457 thousand in 2023, showing an increase of approximately 22.9%[20] - Annual profit rose by 19.1% to $154 million, with a profit margin of 3.5% in 2024[55] Assets and Liabilities - Non-current assets increased to$ 2,310 million as of December 31, 2024, from $1,981 million as of December 31, 2023[8] - Total assets increased to$ 5,470 million as of December 31, 2024, from $5,094 million as of December 31, 2023[9] - Total liabilities increased to$ 2,987 million as of December 31, 2024, from $2,656 million as of December 31, 2023[9] - The total assets of the company as of December 31, 2024, amounted to$ 5,470,183 thousand, while total liabilities were $2,987,095 thousand[24] - Total liabilities were reported at$ 2,656,358 thousand, with bank borrowings constituting $1,382,519 thousand[26] - The company's debt-to-equity ratio increased to 15.4% as of December 31, 2024, compared to 2.6% as of December 31, 2023[66] Revenue Breakdown - The revenue from the smartphone segment was$ 942,909 thousand, down from $1,044,335 thousand in 2023, indicating a decline of about 9.7%[21] - The company’s revenue from the United States was$ 2,186,078 thousand, an increase from $1,928,367 thousand in 2023, representing a growth of approximately 13.3%[21] - The company’s semi-finished products segment generated revenue of$ 3,765,827 thousand, while the consumer goods segment contributed $685,667 thousand[20] - Revenue from the network infrastructure terminal market increased by 39.1% year-over-year, driven by rising demand for AI-driven server products and new platform cabinet connectors and cables[38] - Revenue from the electric vehicle terminal market surged by 57.6% year-over-year, following the acquisition of Prettl SWH Group, which will enhance the company's EV strategy and product development[39] - Revenue from the computer and consumer electronics terminal market grew by 4.7% year-over-year, despite an overall downturn in the market, supported by increased shipments of new products from brand customers[38] Expenses and Investments - Research and development expenses for the year ended December 31, 2024, were$ 330 million, compared to $308 million for the year ended December 31, 2023[5] - The operating expenses for the year were$ 704,277 thousand, up from $605,369 thousand in the previous year, which is an increase of about 16.3%[20] - Employee benefits expenses rose to$ 926,515 thousand, an increase from $782,533 thousand in the prior year[27] - Administrative expenses increased by 26.6% to$ 242 million, largely due to the integration of Voltaira's expenses post-acquisition[51] - Capital expenditures for the fiscal year 2024 were $496 million, slightly down from$ 510 million in 2023, primarily for the acquisition of Auto-Kabel and new production facilities[59] Market Outlook and Strategy - The company anticipates that the connector industry will benefit from the AI wave, leading to a recovery in the consumer electronics sector, although uncertainties in the overall business environment will persist into 2025[44] - The global electric vehicle market is expected to continue growing over the next decade, driven by policy support, technological advancements, and increased consumer awareness of environmental issues[43] - The company is focusing on developing high-speed connectors and cable modules to meet the surging demand for AI servers and satellite communications, which is expected to significantly boost revenue and strengthen market leadership[45] - The adoption of 5G technology is projected to enhance network speed and capacity, crucial for real-time data processing in AI applications[41] - The company plans to continue investing in 5G, AIoT, acoustics, and the electric vehicle terminal market to capitalize on emerging opportunities[44] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated annual financial information for the year ending December 31, 2024[73] - The company's auditor, PwC, confirmed that the figures in the preliminary announcement are consistent with the audited consolidated financial statements for the year ending December 31, 2024[74] - The company has adhered to the corporate governance code and principles applicable to it, with a commitment to maintaining high standards of corporate governance[75] - The company is committed to maintaining compliance with the listing rules of the Hong Kong Stock Exchange[29] Shareholder Information - The company did not declare any final dividend for the year ended December 31, 2024[4] - The annual general meeting is scheduled for June 20, 2025, with relevant documents to be sent to shareholders in due course[79] - The annual report for the year ending December 31, 2024, will be published on the company's website and the Hong Kong Stock Exchange website[80]