Financial Performance - Total revenue for the year ended December 31, 2024, was $307.748 million, a significant increase of 76.7% compared to $173.979 million in 2023[4] - Gross profit for the same period was $48.934 million, up 62.1% from $30.185 million in the previous year[4] - Net profit attributable to shareholders for 2024 was $11.168 million, a substantial rise of 337.5% from $2.553 million in 2023[5] - Basic and diluted earnings per share increased to $4.41 from $1.01, reflecting a growth of 336.6%[5] - The group's profit before tax for the year ended December 31, 2024, was $16,050 thousand, compared to $2,943 thousand in 2023, indicating a substantial increase of 444%[28] - The company reported a total comprehensive income of $8.494 million for 2024, compared to a loss of $3.734 million in 2023[5] - The company reported a basic earnings per share of $11,168 thousand for the year ended December 31, 2024, compared to $2,553 thousand in 2023, marking an increase of 338%[34] - The company reported a net other income of $4,362 thousand for the year ended December 31, 2024, compared to $2,525 thousand in 2023, reflecting an increase of 73%[27] Assets and Liabilities - Total assets as of December 31, 2024, amounted to $422.214 million, compared to $377.374 million in 2023, indicating an increase of 11.9%[6] - Current assets rose to $198.032 million from $155.033 million, marking a growth of 27.7% year-over-year[6] - The total liabilities as of December 31, 2024, were $161,702 thousand, compared to $125,356 thousand in 2023, indicating an increase of 29%[19] - Non-current liabilities decreased to $17.494 million from $25.268 million, a reduction of 30.9%[8] - The company's net asset value increased to $260.512 million from $252.018 million, reflecting a growth of 3.4%[8] - Net debt decreased to $36.8 million in 2024 from $40.6 million in 2023, with a debt-to-equity ratio of 0.14 compared to 0.16 in 2023[48] - As of December 31, 2024, the total borrowings of the group amounted to $69.2 million, a decrease from $78.2 million as of December 31, 2023[51] - Of the total borrowings, $18.8 million required asset collateral, representing 27.1% of total borrowings, slightly down from 27.7% in the previous year[51] - The net book value of properties, plants, equipment, and prepaid land lease fees used as collateral totaled $24 million, down from $33.8 million as of December 31, 2023[51] Revenue Sources - The revenue from external customers in mainland China for the year ended December 31, 2024, was $233,230 thousand, a significant increase from $107,950 thousand in 2023, representing a growth of 116%[24] - The revenue contribution from animal health products rose from 59% in 2023 to 72% in 2024, while the contribution from the antibiotic product decreased from 41% to 28%[44] Strategic Initiatives - The company plans to adopt a new share option scheme and terminate the existing one, indicating a strategic shift in employee compensation[2] - The board proposed the adoption of a new share option scheme for 2025, aimed at rewarding and retaining qualified participants[62] - The new share option scheme is subject to approval by shareholders at the annual general meeting and the listing committee of the stock exchange[64] Employee and Dividend Information - The group employed approximately 900 employees in China and Hong Kong as of December 31, 2024[54] - The company did not declare a final dividend for the year ended December 31, 2024, consistent with 2023[32] - The board resolved not to declare any dividends for the year ending December 31, 2024, consistent with the previous year[55] Capital Expenditure - Capital expenditure for the year ended December 31, 2024, was $13,843 thousand, up from $11,112 thousand in 2023, reflecting an increase of 25%[27] Cash Flow - Cash and cash equivalents decreased by $5.2 million to $32.4 million as of December 31, 2024, compared to $37.6 million in 2023[50] Other Information - The industrial business's share of profit from joint ventures decreased significantly from $4.8 million in 2023 to $0.5 million in 2024 due to intense competition[45] - The group had no significant contingent liabilities as of December 31, 2024[52] - The company did not purchase, sell, or redeem any of its listed securities during 2024[61] - The company plans to maintain a cautious optimism for performance in 2025, driven by increased awareness of animal disease prevention[46]
正大企业国际(03839) - 2024 - 年度业绩