Financial Performance - Total revenue for the year ended December 31, 2024, reached HKD 5,203.8 million, an increase of 9.2% compared to HKD 4,763.7 million in 2023[3] - Profit attributable to shareholders surged to HKD 257.5 million, reflecting a remarkable growth of 809.9% from HKD 28.3 million in the previous year[3] - The company's earnings per share (basic) increased to HKD 0.346, a significant rise of 810.5% from HKD 0.038 in 2023[3] - The group achieved an EBITDA of HKD 5,038.4 million, marking a 15.1% increase from HKD 4,377.0 million in 2023[3] - The profit for 2024 was HKD 325.6 million, up HKD 105.4 million or 47.9% from 2023's HKD 220.2 million[40] - The total revenue for 2024 was HKD 5,203.8 million, an increase of HKD 440.1 million or 9.2% compared to 2023's HKD 4,763.7 million[42] - The company reported a total comprehensive income of HKD 142,236,000 for the year, compared to HKD 77,953,000 in 2023[96] Aircraft Operations and Fleet Management - The average passenger load factor for the airline subsidiary exceeded 70%, with over 1 million passengers transported and more than 9,000 flights operated during the year[13] - The company delivered 17 new aircraft and purchased 2 used aircraft during the review period[24] - The company's fleet consisted of 189 aircraft as of December 31, 2024, with 90% of owned aircraft being narrow-body models, maintaining a 100% rental rate[27] - The total fleet size decreased from 165 aircraft on December 31, 2023, to 159 aircraft on December 31, 2024[40] - The number of aircraft classified as held for sale increased by 289.8% from 4 aircraft in 2023 to 19 aircraft in 2024[64] - The total number of owned aircraft decreased from 165 in 2023 to 159 in 2024, with a notable increase in the A320 NEO series from 43 to 51[68] - The group completed the delivery of 19 aircraft during the year ending December 31, 2024[89] Financial Management and Capital Structure - The group issued its first perpetual medium-term notes in the Chinese market, diversifying its funding sources[10] - The group secured approximately HKD 24 billion in new and renewed financing, including aircraft project loans and RMB bonds, enhancing liquidity for business development[32] - The group issued its first USD 400 million warehouse-style aircraft financing in October 2024, marking a significant innovation in financing channels since 2015[32] - The group successfully issued RMB 3 billion and RMB 12 billion medium-term notes with interest rates of 2.75% and 3.3%, respectively, optimizing its capital structure[33] - The total amount of bonds and financing notes decreased significantly from HKD 5,943.5 million in 2023 to HKD 3,930.7 million in 2024, primarily due to the repayment of USD 240.3 million in bonds[80] - The total borrowings increased slightly by HKD 134.4 million or 0.3%, from HKD 42,911.8 million in 2023 to HKD 43,046.2 million in 2024[78] - The company plans to consider equity and debt financing opportunities to support rapid expansion and has established multiple aircraft investment platforms[83] Market and Growth Strategy - The global air passenger demand is expected to grow by 10.4% in 2024, with China's aviation market showing a record 730 million passengers, a 17.9% increase year-on-year[23] - The company aims to leverage its strengths to enhance its role in the global aviation market and create greater value for stakeholders[18] - The company plans to continue optimizing financial management and expanding its global operations in response to market opportunities[23] - The group aims to expand its global customer base and provide comprehensive aircraft lifecycle solutions in response to market opportunities[36] - The anticipated continuation of the interest rate reduction cycle is expected to lower market funding costs and accelerate the recovery of the global aircraft trading market[36] - The company plans to continue focusing on operational efficiency and cost management to improve future cash flows and profitability[102] Awards and Recognition - The group received two awards from Airline Economics, recognizing its contributions to sustainable development and business innovation in the aviation sector[11] - The company achieved an investment-grade international rating for the first time, reflecting its strong market position and asset quality[15] - The company received AAA ratings from two domestic rating agencies for its wholly-owned subsidiary, reflecting strong operational strength and credit status[15] Dividends and Shareholder Returns - The final dividend per share proposed is HKD 0.18, alongside an interim dividend of HKD 0.12, maintaining a total annual dividend of HKD 0.30[7] - The company declared a final dividend of HKD 0.18 per share for 2024, up from HKD 0.15 per share in 2023, reflecting a 20% increase[152] - The board has proposed a final dividend of HKD 0.18 per share for the year ending December 31, 2024, an increase from HKD 0.15 per share in 2023[159] Compliance and Governance - The company has adhered to all applicable corporate governance codes as of December 31, 2024, except for the absence of the chairman at the annual general meeting[167] - The Audit Committee, consisting of independent non-executive directors, reviewed the accounting principles and practices adopted by the group, including discussions on audit, internal controls, risk management, and financial reporting[170] - The consolidated financial statements for the year ending December 31, 2024, have been reviewed and agreed upon by the external auditor, Deloitte[172] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[93] - The group is evaluating the specific impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[110] - The group anticipates that the application of revised accounting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[109]
中国飞机租赁(01848) - 2024 - 年度业绩