Financial Performance - Total revenue for the year 2023 was HK$1,443,482,000, a decrease of 22.2% from HK$1,855,875,000 in 2022[13] - Revenue from electronic products was HK$1,243,928,000 in 2023, down 12% from HK$1,412,953,000 in 2022[13] - Revenue from pet-related products totaled HK$199,554,000, a significant decline from HK$442,922,000 in 2022, representing a decrease of 55.0%[13] - Revenue from the United States was HK$654,433,000, down 45.4% from HK$1,196,719,000 in 2022[13] - Revenue from the People's Republic of China increased to HK$411,843,000, up 51.6% from HK$271,799,000 in 2022[13] - Revenue for the year ended 31 March 2023 was HK$1,443.5 million, a decrease of approximately 22.2% compared to HK$1,855.9 million in the previous year[30] - Gross profit for the year was HK$202.9 million, with a gross profit margin of 14.1%, up from 13.9% in the previous year[30] - Profit attributable to shareholders increased by 5.9% to HK$59.8 million, compared to HK$56.5 million in the previous year[30] - Basic earnings per share were HK21.00 cents, an increase from HK19.83 cents in the previous year[30] - The Group recorded revenue of HK$1,443.5 million for the year ended 31 March 2023, a decrease of 22.2% compared to HK$1,855.9 million in the previous year[76] - Gross profit for the year was HK$202.9 million, representing a decrease of 21.3% from HK$257.7 million in the prior year[78] - The Group's profit for the year was HK$60.1 million, a 5.8% increase from HK$56.8 million in the prior year[76] Dividends - The company proposed a final dividend of HK4.0 cents per share and a special dividend of HK3.0 cents per share, totaling HK12.0 cents for the year[32] - The total proposed dividend for the year is HK$12.0 per share, consistent with the previous fiscal year[59] Business Strategy and Development - The company aims to become a technologically advanced and innovative partner in Asia, focusing on comprehensive electronics solutions and a pet health ecosystem[6] - The company is actively developing Internet of Things (IoT) technology, with stable growth in orders from a new innovative IoT partner focused on the European and American markets[36] - The Group plans to continue promoting business diversification and leverage the "China Plus One" strategy for steady development[70] - The Group aims to diversify its business and leverage the "China + 1" production layout advantage to ensure stable overall business development amid economic recovery opportunities[100] - The Group's focus on developing IoT technology has led to steady growth in orders from an innovative IoT company, contributing to revenue growth[58] Operational Performance - The pet business recorded sales of HK$199.6 million, a decrease of 54.9% from HK$442.9 million in the previous fiscal year, accounting for 13.8% of the Group's total sales[40] - The electronic products business generated revenue of HK$1,243.9 million, down 12.0% from HK$1,413 million in the previous year, representing 86.2% of total sales[57] - The Group's production capacity in the Dongguan plant was fully utilized due to increased order volumes from Mainland China, while the Vietnam plant is gradually receiving new business opportunities[63] - The Group's cooperation with new customers in producing Single-Board Computers and professional audio equipment began to yield significant revenue contributions in the second half of the year[63] Financial Position - Total bank borrowings decreased to HK$137.3 million from HK$206.0 million in the previous year[30] - The current ratio improved to 2.13, up from 1.80 in the previous year[30] - As of March 31, 2023, the Group's current assets were approximately HK$870.4 million and current liabilities were approximately HK$408.2 million, resulting in a liquidity ratio of 2.13 times[85] - The Group's total assets and total liabilities as of March 31, 2023, were approximately HK$1,231.2 million and HK$426.8 million, respectively, with a debt ratio of approximately 0.35 times[86] - The net asset value of the Group decreased from HK$810.0 million as of March 31, 2022, to HK$804.4 million as of March 31, 2023[86] - The Group had aggregate banking facilities of approximately HK$822.7 million as of March 31, 2023, with unused facilities of HK$682.3 million[86] Corporate Governance - The company is committed to maintaining high standards of corporate governance and transparency[160] - The Company has complied with all applicable code provisions of the Corporate Governance Code, except for code provision C.2.1[167] - The Board is responsible for risk management and internal control systems, ensuring reasonable assurance of achieving business objectives[186] - The Board holds at least four meetings annually to review business development and overall strategic policies[187] - The Company has complied with the Listing Rules regarding the appointment of at least three independent non-executive directors, ensuring one has appropriate professional qualifications[200] Management and Leadership - Dr. Ng Chi Ho held both the Chairman and CEO positions until July 1, 2023, when Dr. Ng Man Cheuk was appointed as CEO[140] - The management team includes experienced professionals with extensive backgrounds in finance, accounting, and technology[160] - The management team regularly discusses sustainability issues and makes appropriate recommendations[174] Sustainability and Community Engagement - The company is committed to environmental protection and nurturing talent while providing quality products and services[18] - The Group has established a sustainable development management framework to oversee relevant work and ensure high-quality product delivery[174] - The Group is actively engaged in community and civic initiatives to support local development[158]
信佳国际(00912) - 2023 - 年度财报