Financial Performance - Total revenue for 2022 was HKD 2,279,321,000, a decrease of 5.2% from HKD 2,404,398,000 in 2021[7] - Net profit for 2022 was HKD 226,909,000, down 19.6% from HKD 282,383,000 in 2021[7] - Basic earnings per share for 2022 was HKD 0.27, compared to HKD 0.34 in 2021, reflecting a decline of 20.6%[4] - Gross profit for the year was HKD 541,275,000, compared to HKD 569,167,000 in 2021, reflecting a decline of 4.9%[31] - Other income for the year ended December 31, 2022, was approximately HKD 44.6 million, a decrease of 14.0% from HKD 51.9 million in 2021[80] - Profit for the year ended December 31, 2022, was approximately HKD 226.9 million, down 19.6% from HKD 282.4 million in 2021[136] Profitability Ratios - Net profit margin decreased to 10.0% in 2022 from 11.7% in 2021[7] - Return on equity (ROE) fell to 14.1% in 2022 from 17.4% in 2021[7] - The gross profit margin for the injection molding business improved by 0.6 percentage points to 22.8% compared to 22.2% in 2021[74] Assets and Liabilities - Total assets decreased to HKD 2,697,523,000 in 2022 from HKD 2,851,160,000 in 2021[22] - The group reported a total debt of HKD 1,091,928,000, down 11.2% from HKD 1,229,241,000 in the previous year[24] - The group’s total liabilities decreased by 11.2% from HKD 1,229,241,000 in 2021 to HKD 1,091,928,000 in 2022[24] - The company’s total equity and liabilities amounted to HKD 2,697,523,000, down from HKD 2,851,160,000 in 2021, reflecting a decrease of 5.4%[24] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 1,114,456,000 in 2022 from HKD 1,027,568,000 in 2021[22] - The group maintained a strong financial position with net current assets of approximately HKD 1,090.9 million as of December 31, 2022, compared to HKD 1,163.0 million in 2021[85] - Cash and bank balances totaled approximately HKD 1,271.6 million as of December 31, 2022, up from HKD 1,203.2 million in 2021[85] - Current ratio slightly decreased to 219.1% in 2022 from 220.7% in 2021[7] Dividends - Proposed final dividend per share remains unchanged at HKD 0.086 for both 2022 and 2021[7] - The company declared a final dividend of HKD 8.6 cents per share for the year, totaling approximately HKD 71.66 million, consistent with the previous year's final dividend[55] Revenue Segments - The income from the manufacturing of injection molded components was HKD 1,673,086,000, a slight decrease from HKD 1,698,373,000 in 2021[31] - Revenue from the mold manufacturing segment was approximately HKD 606.2 million, a decline of 14.1% from HKD 706.0 million in 2021[97] - Revenue from the injection molding components manufacturing segment was approximately HKD 1,673.1 million, a slight decrease of 1.5% from HKD 1,698.4 million in 2021[99] - The mobile and wearable devices segment saw a revenue decline of 19.4%, attributed to weak demand in the personal electronics market in Europe and the US[72] - The smart home and personal care segments experienced stable growth, with revenues increasing by 7.7% and 3.6% respectively[73] - The electronic vaporizer segment's revenue grew by 27.0% year-on-year, benefiting from strong demand in the overseas market and recognition of the group's technology by international brand clients[101] Operational Efficiency - The company aims to enhance production efficiency and expects an increase in order volume and new projects as global economic recovery progresses[74] - The group is expanding its production capacity in Vietnam, with the first phase of the injection molding facility successfully launched at the end of 2021, aimed at serving electronic consumer brand clients[125] - The group is actively developing new products that integrate silicone and traditional injection molding technologies, enhancing its product offerings and competitive advantage[125] Corporate Governance - The company has adopted corporate governance policies to enhance transparency and accountability, ensuring compliance with all relevant rules and regulations[176] - The board of directors has reviewed the company's financial performance and compliance with corporate governance codes for the year ended December 31, 2022[177] - The company has implemented appropriate corporate governance measures to support its business operations and growth[176] Future Outlook - The group plans to capitalize on opportunities in the healthcare and smart home sectors, responding to China's strategy to expand domestic demand and develop new consumption models[126] - The group anticipates a moderate global economic growth in 2023, with China's reopening and policy measures boosting domestic demand[127] - The group maintains an optimistic outlook on the injection molding business, aiming for a five-year doubling of sales from 2020 levels[155] - The group will continue to seek suitable acquisition or investment targets to expand its business footprint and diversify its commercial layout[127]
东江集团控股(02283) - 2022 - 年度业绩