Financial Performance - Revenue for 2020 was HKD 2,254,195, an increase of 25% compared to HKD 1,801,130 in 2019[12] - Profit attributable to owners for 2020 was HKD 32,127, representing a 119% increase from HKD 14,652 in 2019[12] - Basic earnings per share for 2020 was HKD 4.92, up 119% from HKD 2.25 in 2019[12] - The company achieved sales revenue of HKD 2,254,195,000 for the year ended December 31, 2020, representing a 25.1% increase from HKD 1,801,130,000 in 2019[26] - Gross profit for the year was HKD 81,591,000, up 26.6% from HKD 64,465,000 in the previous year, with a gross margin of 3.62% compared to 3.58% in 2019[28] - The company reported a total comprehensive income of HKD 37,330 for 2020, compared to HKD 11,184 in 2019[170] - The company's total equity rose to HKD 168,719 from HKD 137,917 in 2019, indicating a stronger financial position[172] - The pre-tax profit for the year ended December 31, 2020, was HKD 38,832,000, a significant increase of 122% compared to HKD 17,421,000 in 2019[179] Dividend and Shareholder Returns - The company proposed a final dividend of HKD 0.025 per share, an increase from HKD 0.01 in 2019, totaling HKD 0.025 for the year[15] - The company proposed a final dividend of 2.5 HK cents per share for the year ended December 31, 2020, compared to 1.0 HK cent per share in 2019[106] - As of December 31, 2020, the company's retained earnings available for distribution to shareholders amounted to HKD 35,549,000[113] Operational Highlights - Sales of Innolux panel solutions significantly increased due to the pandemic, as consumers engaged in indoor activities[16] - The smartphone panel module segment saw substantial growth driven by the upgrade from 4G to 5G devices in China[18] - The ELA solutions sales increased as they became essential tools for students during school closures due to the pandemic[20] - The STB solutions sales decreased due to the pandemic's impact in key markets such as the Middle East and South America[22] - The company plans to diversify its revenue sources and expand its customer base in response to economic uncertainties[24] - The company aims to maintain flexible operational strategies to explore new business opportunities[24] Financial Position and Liquidity - The company's current ratio improved to 140.4% as of December 31, 2020, compared to 131.7% in 2019, indicating a strong liquidity position[35] - Cash and bank balances stood at HKD 140,961,000, an increase from HKD 114,485,000 in 2019, while bank borrowings decreased to HKD 54,667,000 from HKD 147,577,000[35] - Current liabilities decreased to HKD 389,995 from HKD 416,813 in 2019, improving the company's liquidity position[172] - Cash and cash equivalents increased to HKD 140,961 from HKD 114,485 in 2019, reflecting better cash flow management[172] Corporate Governance - The company is committed to high levels of corporate governance to enhance its corporate image and performance[55] - The board of directors consists of eight members, including three independent non-executive directors[57] - The company has complied with the applicable code provisions of the corporate governance code since its listing on January 7, 2016[55] - The independent non-executive directors have extensive experience in finance and management, contributing to the company's strategic oversight[48] - The company emphasizes transparency and accountability in its operations, aligning with its corporate governance principles[55] - The board is responsible for formulating corporate strategies and monitoring the group's operational and financial performance[56] - The company has established various committees, including audit, nomination, and remuneration committees, to enhance governance practices[55] Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2020[152] - The financial statements for the year ended December 31, 2019, were audited by another auditor who issued an unqualified opinion[158] - The auditor's responsibility includes identifying and assessing risks of material misstatement due to fraud or error[166] - The auditor communicated significant audit findings to the audit committee, including any material weaknesses in internal controls identified during the audit[167] - The financial statements are prepared in accordance with all applicable HKFRS and the disclosure requirements of the Hong Kong Companies Ordinance[199] Risk Management - The board is responsible for maintaining effective risk management and internal control systems, which were reviewed and deemed effective during the year[96] - The risk management and internal control reports are submitted to the audit committee and board at least annually, ensuring oversight of major risk areas[96] Environmental Responsibility - The company is committed to environmental responsibility through various resource-saving measures, including the use of LED lights and eco-friendly materials[116] Shareholder Communication - The company emphasizes the importance of shareholder communication, providing detailed information in annual reports and press releases[101] - The board aims to ensure that all announcements are clear and not misleading, adhering to the Securities and Futures Ordinance and GEM Listing Rules[98]
扬宇科技(08113) - 2020 - 年度财报