Financial Performance - The company's revenue for the fiscal year ending March 31, 2023, was HKD 5,896,349,000, representing a year-on-year growth of 10%[8]. - The profit attributable to equity holders decreased by 14.9% to HKD 532,235,000, with a net profit margin of 9.0%[10]. - The operating profit decreased by 14.5% to HKD 677,474,000, with an operating profit margin of 11.5%[10]. - The gross profit margin declined to 27.1%, down from 29.2% in the previous year[10]. - The company reported a net income of HKD 99,903,000 for the fiscal year ending March 31, 2023, compared to HKD 375,823,000 in the previous year[90]. - Basic and diluted earnings per share for the year were both HKD 38.7, down from HKD 45.6 in the previous year[109]. - Total comprehensive income for the year was HKD 262,329,000, a decrease of 67.0% from HKD 795,363,000 in the prior year[110]. - The company plans to focus on market expansion and new product development to drive future growth[109]. Assets and Liabilities - The total assets increased by 12.4% to HKD 8,539,878,000, while total borrowings rose by 50.7% to HKD 1,641,046,000[11]. - The net asset value increased by 4.1% to HKD 3,855,716,000, while current assets decreased by 5.0% to HKD 1,275,782,000[11]. - The company's debt-to-equity ratio was approximately 26.9% as of March 31, 2023, up from 13.8% a year earlier[22]. - The total outstanding loans as of March 31, 2023, were HKD 1,641,046,000, with about 84.6% classified as short-term loans[22]. - The total liabilities rose to HKD 4,684,162,000 in 2023, up from HKD 3,896,525,000 in 2022, which is an increase of approximately 20.23%[106]. Market and Industry Trends - The Chinese new energy vehicle industry saw production and sales of 7.058 million and 6.887 million units respectively, marking year-on-year growth of 96.7% and 93.4%[8]. - In 2022, global sales of new energy vehicles reached 10.824 million units, a year-on-year increase of 61.6%, with a market share of 13.6%[18]. - In China, new energy vehicle sales were approximately 6.887 million units, growing by 93.4% year-on-year, achieving a market share of 25.6%, an increase of 12.1 percentage points[18]. Research and Development - The company plans to enhance R&D investments and launch advanced technologies to support the development of integrated die-casting solutions for the new energy vehicle sector[8]. - The company is focusing on the development of integrated die-casting energy storage shells, which are expected to see significant market growth in the future[20]. - The company has over 300 patents and has participated in the formulation of 2 international standards, 18 national standards, and 8 industry standards[21]. Corporate Governance - The company has maintained good corporate governance practices and has complied with the principles of the Corporate Governance Code as per the Hong Kong Stock Exchange rules[34]. - The board of directors includes experienced individuals with extensive backgrounds in various industries, contributing to strategic planning and management[30][31][32][33]. - The company has a commitment to maintaining high standards of corporate governance, as evidenced by its adherence to the Corporate Governance Code[34]. Employee and Management - The company has a total of 5,193 employees as of March 31, 2023, comprising 4,431 males (85%) and 762 females (15%)[42]. - Employee costs for the year amounted to HKD 960,485,000, an increase from HKD 873,032,000 in the previous year, with approximately 5,193 full-time employees as of March 31, 2023[91]. - The management team has over 30 years of experience in asset investment analysis in the Hong Kong and China stock markets, enhancing the company's strategic insights[32]. Risk Management - The company has engaged a professional consulting firm to enhance its risk management system and assist in the annual assessment of significant risks related to its operations[48]. - The audit committee is responsible for reviewing the effectiveness of the group's risk management and internal control systems[47]. - The company has identified several key risks that could impact its strategic objectives, which are prioritized based on their likelihood and significance[49]. Cash Flow and Capital Expenditures - The net cash generated from operating activities in fiscal year 2023 was HKD 99,375,000[14]. - The company incurred capital expenditures of HKD 430,077,000 for the purchase of property, plant, and equipment, down from HKD 461,665,000 in the previous year[114]. - The company plans to gradually utilize the remaining net proceeds of HKD 10,327,000 for the acquisition of properties, plants, and equipment over the next 12 months[90]. Shareholder Information - The company plans to distribute a final dividend of HKD 0.045 per share for the year ending March 31, 2023, subject to shareholder approval, compared to HKD 0.04 per share for the previous year[58]. - The company has adopted a dividend policy to distribute at least 30% of the annual distributable profits as dividends, depending on profitability and financial conditions[53]. - The company’s major shareholder, Girgio Industries Limited, held approximately 64.7% of the total issued share capital as of the approval date[66].
力劲科技(00558) - 2023 - 年度财报