Financial Performance - For the fiscal year ended June 30, 2024, the Group's revenue increased by 12.2% to HK$1,130,164, compared to HK$1,007,016 in 2023[10]. - Gross profit for the year was HK$255,490, up from HK$175,339 in the previous year, reflecting an increase of HK$80,151[10]. - The gross profit margin improved to 22.6%, a rise of 5.2 percentage points from 17.4% in 2023[10]. - The Group reported a profit for the year of HK$1,500, a significant turnaround from a loss of HK$78,524 in 2023, representing an improvement of HK$80,024[10]. - Revenue increased by 12.2% to HKD 1,130 million for the fiscal year ending June 30, 2024, with a post-tax profit of HKD 1.5 million[20]. - The profit after tax for the year was HK$1.5 million, marking a turnaround from the previous year's loss, demonstrating the Group's ability to adapt to market conditions and enhance operational efficiency[53]. - Gross profit rose from HK$175.3 million to HK$255.5 million, with the gross profit margin increasing from 17.4% to 22.6%, attributed to a better product mix and improved production efficiency[58]. Financial Position - Total equity decreased to HK$396,034 from HK$419,822 in the previous year, a decline of HK$23,788[11]. - Total debt reduced to HK$91,951 from HK$123,804, a decrease of HK$31,853[11]. - Cash and cash equivalents decreased to HK$102,263 from HK$112,130, a decline of HK$9,867[11]. - The gearing ratio improved to 23.2%, down from 29.5%, a reduction of 6.3 percentage points[11]. - Total assets increased slightly to HK$803,356 from HK$800,534[14]. - The Group's bank balances and cash were HK$102.3 million as at 30 June 2024, compared to HK$112.1 million as at 30 June 2023, while total bank borrowings decreased to HK$92.0 million from HK$123.8 million[70][75]. - The gearing ratio improved to 23.2% as at 30 June 2024, down from 29.5% as at 30 June 2023[70][75]. Market Outlook - The Group anticipates potential economic stimulus from a rate-cutting cycle, which may provide relief amid ongoing economic uncertainties[15]. - The economic outlook remains uncertain due to high interest rates and geopolitical tensions, but there are signs of recovery in the market[24]. - Looking ahead, the Group anticipates customer demand to remain volatile due to an uncertain macroeconomic environment, despite some optimism from declining inflation and potential interest rate cuts[87]. - Despite facing challenges, the company maintains a strategy focused on innovation, strategic vertical integration, quality service, and a multinational production network to adapt to market uncertainties[92]. Sustainability and Innovation - Clear carbon emission targets have been established across all locations, emphasizing the company's commitment to sustainability[18]. - The company aims to align its operations with environmental stewardship goals, reducing carbon emissions[18]. - The company achieved its circularity goal by launching bio-based bra cups made from biodegradable materials, moving away from traditional fossil fuel-based materials[43]. - The seamless product segment has become a vital source of innovation and is key to operational efficiency within the company's vertical strategy[36]. - The company is focused on innovation to support customers in launching new products and refreshing their brands, which is crucial for future growth[27]. - The company plans to enhance its technological offerings in adjacent categories such as activewear and shapewear, which has received positive market feedback[28]. Corporate Governance and Management - An independent non-executive director has been proposed to enhance board diversity and bring valuable insights[19]. - The management team has demonstrated adaptability to changing market conditions, contributing to the overall success of the company[20]. - The Group is committed to employee development, providing training and competitive remuneration, which is essential for sustainable business growth[129]. - The Directors' performance is regularly assessed to ensure alignment with the Group's corporate strategy, enhancing operational effectiveness[129]. Shareholder Information - The Board has resolved not to declare a final dividend for the year ended June 30, 2024, consistent with the previous year[120]. - No interim dividend was paid to shareholders for the six months ended December 31, 2023, mirroring the previous year's performance[120]. - As of June 30, 2024, the total reserves available for distribution to equity shareholders was HK$217,833,000, a slight decrease from HK$218,680,000 in 2023[133]. - The Group has maintained a long-standing relationship with Van de Velde N. V., which holds approximately 25.66% of the issued share capital of the Company, indicating a significant connected transaction[142]. Acquisitions and Transactions - In June 2024, the Group acquired a minority stake in Grand Gain Industrial Limited, enhancing vertical integration in foam cup production and expected to improve profitability[54]. - The Company acquired the remaining 40% interest in Grand Gain Industrial Limited for HK$19 million, completing the acquisition on June 30, 2024, making it a wholly-owned subsidiary[151]. - The acquisition allows the Group to gain full control over the management and operations of the Target Company, enhancing vertical integration and improving profitability[156]. - The Group has renewed the Master Agreement with VdV five times since its initial signing in September 2005 to govern continuing connected transactions[147]. Employee and Director Information - The Group employed approximately 6,740 employees as at 30 June 2024, an increase from approximately 6,242 employees as at 30 June 2023[78][83]. - Ms. Lien Van de Velde has over 16 years of experience in lingerie technology design and innovation, leading a team focused on product and process innovation, 3D modeling, and sustainability[102]. - Mr. Kwong Tony Wan Kit, appointed as Chief Financial Officer in April 2024, has over 20 years of experience in accounting and financial management[107]. - The Company has maintained directors' and officers' liability insurance throughout the year, providing coverage for the Directors and its subsidiaries[164].
黛丽斯国际(00333) - 2024 - 年度财报