建滔集团(00148) - 2024 - 年度业绩

Financial Performance - Revenue for the fiscal year 2024 reached HKD 43,093.3 million, representing a 9% increase from HKD 39,712.5 million in fiscal year 2023[2] - EBITDA for fiscal year 2024 was HKD 5,865.0 million, down 4% from HKD 6,139.0 million in the previous year[2] - Profit attributable to shareholders decreased by 29% to HKD 1,622.0 million from HKD 2,274.3 million in fiscal year 2023[2] - Basic earnings per share fell by 29% to HKD 1.464 from HKD 2.052 in the previous year[2] - The company reported a pre-tax profit of HKD 2,754.3 million, down 9% from HKD 3,025.2 million in fiscal year 2023[2] - The group reported a total segment profit of HKD 4,727,247,000 for 2024, compared to HKD 4,862,991,000 in 2023, indicating a slight decrease of about 2.8%[15][17] - The corporate income tax expense for 2024 was HKD 714,007,000, up from HKD 573,402,000 in 2023, representing an increase of about 24.5%[22] - The basic net profit attributable to the company's shareholders was HKD 1,622.0 million, a decrease of 29% from HKD 2,274.3 million year-on-year[38] - The net profit before tax was HKD 2,754.3 million, down 9% from HKD 3,025.2 million in the previous fiscal year[38] Dividends - The company declared a total annual dividend of HKD 1.40 per share, an increase of 37% compared to HKD 1.02 per share in the previous year[2] - The company declared an interim dividend of HKD 0.40 per share for 2024, compared to HKD 0.16 in 2023, totaling HKD 443.325 million[27] - The proposed final dividend for 2024 is HKD 0.54 per share, an increase from HKD 0.36 in 2023, amounting to HKD 598.488 million[27] - The proposed final dividend is HKD 0.54 per share, with a special final dividend of HKD 0.46 per share, subject to shareholder approval[58] Assets and Liabilities - Non-current assets increased to HKD 58,283,689 thousand in 2024 from HKD 54,792,718 thousand in 2023, representing an increase of approximately 4.5%[7] - Current assets decreased to HKD 39,500,965 thousand in 2024 from HKD 44,175,808 thousand in 2023, a decline of about 10.6%[9] - Total liabilities decreased from HKD 19,511,178 thousand in 2023 to HKD 18,923,121 thousand in 2024, a reduction of approximately 3.0%[9] - Total equity decreased slightly from HKD 64,739,247 thousand in 2023 to HKD 64,434,622 thousand in 2024, a decrease of about 0.5%[9] - The company reported a net asset value of HKD 25,252,687 thousand in 2024, up from HKD 19,989,787 thousand in 2023, reflecting an increase of approximately 26.3%[9] - The company’s total assets increased to HKD 80,045,405 thousand in 2024 from HKD 78,273,476 thousand in 2023, representing an increase of approximately 2.3%[9] Market Performance - The revenue from the Chinese market was HKD 37,597,197,000 in 2024, up from HKD 34,652,221,000 in 2023, indicating a growth of approximately 8.4%[18] - The external sales for the copper foil segment amounted to HKD 15,263,147,000, while the printed circuit board segment generated HKD 12,106,976,000, and the chemical products segment reported HKD 12,779,405,000 for 2024[15] - The sales volume of copper-clad laminates reached 110 million sheets, representing a 10% increase compared to 2023[40] - The revenue from the copper-clad laminates segment rose by 10% to HKD 18.901 billion, with a 23% increase in EBITDA to HKD 3.064 billion[40] - The sales revenue of the printed circuit board segment increased by 4% to HKD 12.107 billion, with EBITDA rising by 1% to HKD 2.033 billion[41] - The chemical segment's revenue increased by 22% to HKD 13.617 billion, with EBITDA rising by 2% to HKD 910 million[42] - The real estate segment's revenue decreased by 28% to HKD 1.973 billion, with a 60% drop in property sales revenue to HKD 517 million[44] Financial Ratios and Metrics - The net debt ratio improved to 28% from 29% in the previous year[2] - The net debt ratio was approximately 28%, a slight decrease from 29% in 2023[45] - The expected credit loss on receivables was HKD 721,591,000 in 2024, compared to HKD 893,907,000 in 2023, showing a decrease of about 19.2%[19] - The aging analysis of trade receivables shows that HKD 6,101.162 million (85%) are within 0-90 days, compared to HKD 5,568.742 million (85%) in 2023[31] - The inventory turnover period was 45 days, compared to 43 days as of December 31, 2023[46] Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[4] - The group anticipates continued strong demand in the electronics market, with significant growth in shipments of copper-clad laminates and upstream materials in the first two months compared to the previous year[51] - The group plans to increase copper foil production capacity by 1,500 tons per month in Lianzhou by 2025, enhancing cost efficiency and meeting rising demand from overseas customers[51] - The printed circuit board (PCB) segment is experiencing significant order growth, driven by emerging applications in AI, high-speed computing, and electric vehicles[53] - The group is set to increase PCB production capacity by 1.2 million square feet per month in Thailand and 1.1 million square feet per month in Vietnam, both expected to commence production in 2026[53] - The group emphasizes cash flow and expenditure management amidst geopolitical tensions and trade wars, focusing on cost control and technological advancements[50] Environmental and Social Responsibility - The group has invested approximately HKD 900 million in distributed solar photovoltaic power generation projects, expected to produce 200 million kWh of green electricity annually, saving 54,000 tons of standard coal and reducing CO2 emissions by 120,000 tons[48] - The group has invested around HKD 200 million in thermal energy recovery equipment, which is projected to reduce CO2 emissions by 59,000 tons in 2024, saving an additional HKD 180 million in expenses[48] - The Hebei acetic acid project utilizes advanced low-energy carbon capture technology, capable of capturing 200,000 tons of CO2 annually, equivalent to saving 80,000 tons of standard coal[48] - The group aims to achieve sustainable development goals in environmental, social, and governance (ESG) aspects through its green transformation initiatives[48] Corporate Governance - The company has adhered to the corporate governance code and the standard code for securities trading by directors throughout the fiscal year ending December 31, 2024[62][63] - The audit committee has reviewed the accounting policies and financial statements for the year ending December 31, 2024[65] - The group’s consolidated financial statements for the year ending December 31, 2024, have been approved by the board and are consistent with the initial announcement[67]