Financial Performance - Revenue for the year ended December 31, 2023, was HKD 1,945,721, a decrease of 14.7% from HKD 2,279,321 in 2022[4] - Net profit for the year was HKD 204,191, down 10.0% from HKD 226,909 in the previous year[4] - Basic earnings per share decreased to HKD 0.25 from HKD 0.27, representing a decline of 7.4%[4] - The company's gross profit for the year was HKD 512,793 thousand, down from HKD 541,275 thousand in 2022[52] - The net profit for 2023 was HKD 204,191,000, a decrease of 10% from HKD 226,909,000 in 2022[56] - Basic earnings per share for 2023 was HKD 0.25, down from HKD 0.27 in 2022[56] - The group's revenue for the year ended December 31, 2023, was approximately HKD 1,945.7 million, a decrease of about HKD 333.6 million or 14.6% compared to HKD 2,279.3 million in 2022[71] - Gross profit for the year was approximately HKD 512.8 million, a decrease of about HKD 28.5 million or 5.3% from HKD 541.3 million in 2022, with a gross margin increase of 2.7 percentage points to 26.4%[73] - The net profit for the year was approximately HKD 204.2 million, a decrease of 10.0% from HKD 226.9 million in 2022, with a net profit margin increase of 0.5 percentage points to 10.5%[79] Dividends - Proposed final dividend per share is HKD 0.075, down from HKD 0.086 in 2022, and a special dividend of HKD 0.10 is proposed[4] - The company reported a basic earnings per share of HKD 7.5 for the final dividend, down from HKD 8.6 in 2022[37] - Total dividends paid in 2023 were HKD 94,991,000, maintaining the same amount as in 2022[58] - The board proposed a final dividend of HKD 0.075 per share and a special dividend of HKD 0.10 per share, subject to shareholder approval, totaling HKD 62,494,500 and HKD 83,326,000 respectively[159] - The total dividend for the year ended December 31, 2023, including an interim dividend of HKD 0.028 per share, amounts to HKD 0.203 per share[159] Assets and Liabilities - Current assets net value increased to HKD 1,193,086 from HKD 1,090,873, reflecting a growth of 9.4%[4] - Total liabilities decreased from HKD 1,091,928 thousand in 2022 to HKD 766,414 thousand in 2023, representing a reduction of approximately 29.7%[24] - The total equity and liabilities amounted to HKD 2,451,591 thousand as of December 31, 2023, compared to HKD 2,697,523 thousand in 2022[24] - The total equity of the group as of December 31, 2023, was approximately HKD 1,685.2 million, compared to HKD 1,605.6 million on December 31, 2022[109] Operational Efficiency - Gross margin improved to 26.4% from 23.7% in 2022, while net margin increased to 10.5% from 10.0%[4] - The current ratio improved to 276.0% from 219.1%, indicating better short-term financial health[4] - The return on equity decreased to 12.1% from 14.1%, while return on assets slightly decreased to 8.3% from 8.4%[4] - Inventory turnover days increased to 102 days from 98 days, indicating a slower inventory movement[4] - Trade receivables turnover days increased to 58 days from 54 days, while trade payables turnover days increased to 61 days from 57 days[4] - The group’s inventory turnover days as of December 31, 2023, were 102 days, an increase of 4 days from 2022, mainly due to an increase in long production cycle orders[110] - The group reported a trade receivables turnover of 58 days for the year ended December 31, 2023, an increase of 4 days compared to 2022, primarily due to sales growth to customers with credit terms between 60 to 90 days[137] - The trade payables turnover was 61 days for the year ended December 31, 2023, also an increase of 4 days compared to 2022, as some suppliers extended credit terms due to the group's good reputation[138] Business Segments - The injection molding component manufacturing business declined by 20.7% due to reduced overseas consumer demand, while the mold manufacturing business recorded a growth of 2.2% as global supply chains returned to normal[42] - Revenue from the automotive segment increased by 22.7% to HKD 368.7 million in 2023, compared to HKD 300.5 million in 2022[63] - Revenue from the injection molding components manufacturing segment decreased by 20.7% to HKD 1,326.1 million in 2023, compared to HKD 1,673.1 million in 2022[68] - The revenue from the mold manufacturing segment was approximately HKD 619.6 million, an increase of about HKD 13.4 million or 2.2% from HKD 606.2 million in 2022, accounting for approximately 31.8% of total revenue[80] - The revenue from the medical and personal care segment decreased by 18.0% due to reduced orders from personal care brand customers amid high inflation and interest rates[83] - The revenue from the electronic vaporizer segment increased by 63.4%, reflecting strong demand in the overseas market[83] Strategic Initiatives - The company plans to continue focusing on high-quality and cost-effective design solutions in the mold manufacturing sector, particularly for automotive and high-end consumer electronics[45] - The company aims to enhance product precision and expand its customer base in high-end sectors such as medical and consumer electronics[67] - The group plans to invest in capacity expansion and projects to capture potential growth in the future, primarily funded by internal resources[143] - The group has established an overseas production base in Vietnam to serve electronic consumer brand clients, aiming to expand production capacity gradually based on market demand[149] - The group is exploring the establishment of another production base in North America through acquisitions or investments to provide lower tariff-cost products and services[149] - The group is actively preparing to launch new products, integrating silicone with traditional injection molding technology to provide diverse product solutions[121] - The group plans to continue its diversification strategy and optimize internal organizational structure to enhance operational efficiency in response to economic uncertainties[123] Corporate Governance - The group emphasizes the importance of good corporate governance to maintain investor confidence and ensure sustainable growth[152] - The group has adhered to all provisions of the corporate governance code during the year ended December 31, 2023[153] Other Information - The company has adopted revised standards effective from January 1, 2023, which did not have a significant impact on the consolidated financial statements[28] - The company will suspend share transfer registration from May 28, 2024, to May 31, 2024, to determine eligibility for attending the annual general meeting and voting[160] - The company will also suspend share transfer registration from June 6, 2024, to June 7, 2024, for the proposed final and special dividends[166] - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the company's website[167]
东江集团控股(02283) - 2023 - 年度业绩