Financial Performance - For the fiscal year ending December 31, 2024, the revenue was approximately RMB 2,060.8 million, an increase of about 17.1% compared to 2023[5] - The gross profit for the same period was approximately RMB 795.1 million, reflecting a growth of 20.8% year-over-year[5] - The profit attributable to the owners of the parent company was approximately RMB 428.3 million, representing an increase of about 31.0% from 2023[5] - Earnings per share for the fiscal year was approximately RMB 1.03, which is an increase of about 33.8% compared to the previous year[5] - Total sales volume of products reached approximately 178.0 million units, marking a growth of about 12.1% from 2023[5] - Revenue from continuing operations for 2024 reached RMB 2,060,767,000, an increase of 17.1% compared to RMB 1,759,641,000 in 2023[19] - Revenue from mainland China was RMB 655,433,000 in 2024, up from RMB 575,351,000 in 2023, reflecting a growth of 13.9%[19] - Revenue from the Americas was RMB 474,261,000 in 2024, an increase of 16.9% from RMB 405,599,000 in 2023[19] - Revenue from Asia (excluding mainland China) was RMB 522,452,000 in 2024, compared to RMB 378,923,000 in 2023, marking a growth of 38.0%[19] - Customer contract revenue for 2024 reached RMB 2,060,767 thousand, a 17.1% increase from RMB 1,759,641 thousand in 2023[22] - Revenue from functional lenses increased to RMB 755,154 thousand in 2024, up 32.3% from RMB 570,541 thousand in 2023[22] - Total other income for 2024 was RMB 44,368 thousand, a 64.4% increase compared to RMB 27,019 thousand in 2023[25] - Pre-tax profit for 2024 was RMB 497,362 thousand, representing a 26.6% increase from RMB 393,010 thousand in 2023[31] - The company reported a total comprehensive income of RMB 430.8 million for the year, compared to RMB 313.3 million in 2023[7] Assets and Liabilities - The total assets less current liabilities amounted to RMB 1,656.6 million, compared to RMB 1,552.6 million in 2023[8] - Non-current assets totaled approximately RMB 769.8 million, an increase from RMB 569.6 million in the previous year[8] - The net asset value was RMB 1,585.6 million, up from RMB 1,394.9 million in 2023[9] - As of December 31, 2024, the company's interest-bearing bank and other borrowings amounted to RMB 289.6 million, an increase of 41.0% from RMB 205.2 million as of December 31, 2023, representing 36.1% of total liabilities[60] - The total bank credit facilities amounted to RMB 407 million as of December 31, 2024, down from RMB 494 million as of December 31, 2023, with RMB 289.6 million utilized[60] - The company held financial assets at fair value amounting to RMB 149.5 million as of December 31, 2024, a decrease from RMB 221.0 million as of December 31, 2023[65] Dividends - The board has proposed a final dividend of RMB 0.16 per share (tax included), leading to a total annual dividend of RMB 0.28 per share, compared to HKD 0.20 per share in 2023[5] - The proposed final dividend for the year ended December 31, 2024, is RMB 0.16 per share, down from RMB 0.20 per share for the year ended December 31, 2023[68] Expenses and Costs - Financial expenses decreased to RMB 10,228 thousand in 2024, down 25.5% from RMB 13,649 thousand in 2023[28] - Research and development costs increased to RMB 88,336 thousand in 2024, up from RMB 70,091 thousand in 2023[27] - Sales and distribution expenses increased by 25.9% from RMB 103.2 million in 2023 to RMB 129.8 million in 2024, primarily due to higher employee compensation and business development costs[51] - Employee benefits expenses, including salaries and other allowances, amounted to approximately RMB 430.8 million for the year ending December 31, 2024, compared to RMB 387.5 million for the year ending December 31, 2023[73] Production and Capacity - Total production volume across three production bases reached 208.6 million units, a year-on-year growth of 15.1%[42] - The company plans to enhance production capacity and automation at its Shanghai and Jiangsu facilities to strengthen market position[43] - Capital expenditures increased by 70.5% from RMB 126.5 million in 2023 to RMB 215.7 million in 2024, primarily for purchasing land ownership and machinery[61] Compliance and Governance - The audit committee, composed of three independent non-executive directors, has reviewed the annual performance announcement and the audited consolidated financial statements for the year ending December 31, 2024[81] - The company has confirmed compliance with the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO[78] - The company has not purchased, sold, or redeemed any of its listed securities during the year ending December 31, 2024[80] - The preliminary announcement of the consolidated financial statements for the year ending December 31, 2024, has been agreed upon by Deloitte, ensuring consistency with the audited financial statements approved by the board on March 31, 2025[82] - The annual performance announcement for the year ending December 31, 2024, will be published on the Hong Kong Stock Exchange website and the company's website, complying with the listing rules[83] Strategic Initiatives - The company plans to enhance its product development capabilities, including the establishment of a new XR (Extended Reality) R&D center[44] - The company is actively expanding its customer base in the Chinese market through enhanced offline and online marketing strategies[45] - The company has utilized approximately HKD 443.1 million of the net proceeds from the global offering, representing 93.6% of the total raised amount of approximately HKD 473.5 million[75] - The planned use of the net proceeds includes 46.4% for enhancing production capacity at the Shanghai and Jiangsu production bases, with actual usage of approximately HKD 198.1 million[76] - The company allocated 19.9% of the net proceeds, approximately HKD 94.2 million, to strengthen its R&D capabilities, fully utilized as of the reporting date[76] - The company plans to increase its sales and marketing efforts using the remaining unutilized proceeds, with an expected delay to the first half of 2025 due to adjustments in business development strategies[76] - The company has repurchased a total of 12,798,000 H shares for future employee share incentive plans[74] Tax and Foreign Exchange - The company’s effective tax rate for 2024 was influenced by various local tax rates, with a total tax expense of RMB 69,078 thousand[31] - The company reported a net foreign exchange gain of RMB 9,384 thousand in 2024, down from RMB 13,757 thousand in 2023[25] - The company has no foreign exchange hedging policies in place but monitors the situation closely to manage currency risk[64]
康耐特光学(02276) - 2024 - 年度业绩