PICO FAR EAST(00752) - 2024 - 年度业绩

Financial Performance - Revenue for the year ended October 31, 2024, increased to HKD 6,327,002 thousand, up 18.7% from HKD 5,327,931 thousand in 2023[3] - Gross profit rose to HKD 1,942,100 thousand, representing a 22.0% increase compared to HKD 1,590,594 thousand in the previous year[3] - Core operating profit improved to HKD 499,409 thousand, a 38.8% increase from HKD 359,951 thousand in 2023[3] - Net profit for the year reached HKD 368,023 thousand, up 51.0% from HKD 243,731 thousand in the prior year[3] - Basic earnings per share increased to 28.84 cents, compared to 18.41 cents in 2023, reflecting a growth of 56.5%[3] - Total comprehensive income for the year was HKD 410,628 thousand, a significant rise of 53.0% from HKD 268,288 thousand in 2023[4] - Total revenue for the year ended October 31, 2023, was HKD 5,327,931, an increase from HKD 5,141,646 in the previous year[32] - Reported segment profit for the year was HKD 376,342, up from HKD 302,511 in the previous year, reflecting a growth of approximately 24.5%[32] - The company expects total revenue for 2024 to reach HKD 6,691,769, representing a 19.2% increase compared to HKD 5,611,706 in 2023[34] - The total revenue for the fiscal year reached HKD 6.327 billion, an increase of 18.8% compared to HKD 5.328 billion in the previous year[53] Assets and Liabilities - Total assets as of October 31, 2024, amounted to HKD 4,179,415 thousand, an increase from HKD 3,465,765 thousand in 2023[6] - Current liabilities increased to HKD 3,057,024 thousand from HKD 2,336,406 thousand in the previous year, indicating a rise of 30.9%[6] - The company reported a decrease in non-current liabilities to HKD 331,940 thousand from HKD 394,163 thousand, down 15.7%[7] - Shareholders' equity stood at HKD 2,291,917 thousand, slightly up from HKD 2,261,271 thousand in 2023, reflecting a growth of 1.4%[7] - The total assets reported for 2024 are HKD 5,707,137, an increase from HKD 5,060,507 in 2023, indicating a growth of approximately 12.8%[34] - The total liabilities for 2024 increased to HKD 3,388,964 from HKD 2,730,569 in 2023, marking a rise of about 24.1%[34] Revenue Breakdown - The revenue breakdown by major product or service for 2024 includes: Exhibition, Projects, and Brand Activation at HKD 5,438,411 thousand; Visual Brand Activation at HKD 292,981 thousand; Museum and Theme Entertainment at HKD 422,290 thousand; and Conference Planning Activation at HKD 173,320 thousand[23] - Total revenue from customer contracts for the year 2024 was HKD 6,327,002 thousand, an increase from HKD 5,327,931 thousand in 2023, representing a growth of approximately 18.7%[23] - The segment profit for Exhibition, Projects, and Brand Activation was HKD 402,583 thousand, while the total segment profit amounted to HKD 553,324 thousand for the year[30] - The revenue from the museum and theme entertainment segment was HKD 422 million, representing 6.7% of the total group revenue, with a profit of HKD 50.4 million[81] Operational Changes and Strategies - The group adopted the revised Hong Kong Accounting Standard No. 1 and the Practical Guide No. 2 for the first time this year, impacting the disclosure of accounting policies in the consolidated financial statements[10] - The group implemented the revised Hong Kong Accounting Standard No. 12, narrowing the scope of initial recognition exemptions, which primarily affects the disclosure of deferred tax assets and liabilities in the notes to the consolidated financial statements[12] - The group is enhancing operational efficiency by establishing a global partner platform to strengthen supplier and resource management, aiming to control costs and improve gross margins[65] - The company is committed to sustainable development, integrating environmental protection and community support into its core operations[62] - The group is focusing on data-driven growth and digital transformation through the AI-supported PowerOne system, aiming to convert data into assets and enhance sales conversion rates[63] - The company is implementing a talent development model to foster a culture of knowledge sharing and training, utilizing AI tools to match employee skills with project needs[65] Market Presence and Future Outlook - The group anticipates continued growth in global markets, particularly in Southeast Asia and the Middle East, driven by China's Belt and Road Initiative[100] - The group is focusing on delivering high-quality services in exhibitions and brand activations to maintain sustainable growth[101] - Key projects include the China International Machine Tool Exhibition in Beijing and the Guangzhou International Auto Show, among others, indicating a strong market presence[102] - The group is leveraging data-driven strategies to gain a competitive advantage and expects to maintain growth in the coming years[110] Corporate Governance - The company has adhered to the corporate governance code but deviated from the separation of the roles of Chairman and CEO, which are held by the same individual[117] - The board consists of five independent non-executive directors, ensuring a balance of power[117] - The company has adopted the standard code of conduct for directors' securities transactions and confirmed compliance for the fiscal year ending October 31, 2024[119] - The audit committee has reviewed the accounting principles and internal controls, discussing financial reporting matters[120] Employee and Operational Metrics - The group employed approximately 2,700 full-time staff and operated in 36 cities across 22 countries, focusing on integrated brand experiences through content, community, creativity, and data strategies[58] - The group’s cash balance net of external interest-bearing borrowings was HKD 1.512 billion, an increase from HKD 904 million[89] - The group’s debt-to-asset ratio was 4.29%, down from 6.20% in the previous year[91] - The group employed approximately 2,700 full-time employees, with total employee costs amounting to HKD 1.4 billion[94]