Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of HKD 1,219,113,000, a decrease of 8.4% from HKD 1,331,456,000 in 2023[2] - Gross profit for the year was HKD 694,981,000, down 8.4% from HKD 758,515,000 in the previous year[2] - Operating profit decreased to HKD 80,501,000, a decline of 20.9% compared to HKD 101,774,000 in 2023[2] - The net profit attributable to shareholders was HKD 93,097,000, down 20.0% from HKD 116,164,000 in the prior year[2] - Basic and diluted earnings per share decreased to HKD 9.56 from HKD 11.87, reflecting a decline of 19.5%[2] - The group reported a profit before tax of HKD 104,666,000, down 18% from HKD 127,433,000 in 2023[16] - The basic earnings per share for 2024 was HKD 0.0958, compared to HKD 0.1185 in 2023[22] - The total revenue for the year was HKD 1,219,113,000, a decrease of 8% compared to last year's HKD 1,331,456,000, with apparel sales and property sales down by 6% and 47% respectively[29] Assets and Equity - Total assets as of December 31, 2024, were HKD 5,146,477,000, a decrease from HKD 5,281,756,000 in 2023[5] - Total equity decreased to HKD 4,349,283,000 from HKD 4,404,764,000, indicating a decline of 1.3%[5] - The company’s investment properties decreased to HKD 2,604,529,000 from HKD 2,686,658,000, a decline of 3.1%[5] - The total value of the investment property portfolio was approximately HKD 2,604,529,000, down from HKD 2,686,658,000 at the end of the previous year, with a fair value loss of HKD 27,362,000[40] Cash Flow and Liabilities - The company’s cash and cash equivalents were HKD 316,392,000, down from HKD 357,099,000, reflecting a decrease of 11.4%[5] - As of December 31, 2024, the group's cash and bank balance was approximately HKD 1,051,846,000, a decrease of HKD 36,955,000 from the previous year[44] - The group has no bank loans or overdrafts as of December 31, 2024, with a zero debt-to-equity ratio[44] Dividends - The group paid an interim dividend of HKD 0.020 per share for 2024, totaling HKD 19,477,000[24] - The group did not recommend a final dividend for the year ending December 31, 2024[24] Revenue Breakdown - The revenue from clothing and accessories in mainland China and Hong Kong was HKD 948,530,000, down 6% from HKD 1,010,560,000 in 2023[16] - The property investment and development segment generated revenue of HKD 247,921,000, a decrease of 17% from HKD 297,377,000 in 2023[16] - The apparel business in mainland China and Hong Kong recorded total revenue of HKD 863,541,000, a decrease of approximately 6% year-on-year, with a 9% decline in sales to agents[35] - The group's sales in the outlet stores decreased by approximately 11% year-on-year, accounting for about 13% of the domestic apparel sales[36] - E-commerce sales also declined by around 6% year-on-year, with sales from special products making up about 28% of the group's domestic apparel sales[36] Expenses - Total expenses for the year were HKD 1,111,250,000, a decrease from HKD 1,182,616,000 in 2023[19] - The total cost of sales for the year was HKD 524,132,000, including apparel cost of sales of HKD 400,495,000, which decreased by 10% from last year's HKD 443,245,000[30] - The total distribution and marketing costs for the year were HKD 431,341,000, down 4% from last year's HKD 447,488,000[32] Employee Information - The group employs approximately 1,700 staff members as of December 31, 2024, with total employee costs, including director remuneration, amounting to HKD 220,529,000[47] - The company ensures competitive employee compensation based on job nature, market conditions, individual performance, qualifications, and experience[47] - The company is committed to providing additional employee benefits and training as needed[47] Corporate Governance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with the financial reporting procedures[52] - The company has adhered to the corporate governance code as stipulated by the Hong Kong Stock Exchange, with the chairman and CEO roles held by the same individual to enhance decision-making efficiency[50] - The company has established an audit committee consisting of four members, including independent non-executive directors, to oversee financial reporting and risk management[51] Future Outlook - The group expects the domestic market conditions to remain challenging in the short term, with cautious responses from agents regarding the upcoming product showcase[43] - The company plans to privatize under a scheme arrangement, pending shareholder approval, which would lead to the delisting of its shares from the Hong Kong Stock Exchange[27] - The company has applied for an extension to the deadline for issuing the plan document related to the privatization proposal[27] Miscellaneous - The company has not indicated any significant foreign exchange risks, as most transactions are conducted in RMB[46] - The company will publish its annual report for the fiscal year 2024 on its website and the Hong Kong Stock Exchange website for shareholder review[53] - The company will suspend share transfer registration from June 3 to June 6, 2025, to confirm eligibility for the upcoming annual general meeting[48] - The company has not repurchased any shares during the reporting period, nor have any subsidiaries bought or sold shares of the company[49]
金利来集团(00533) - 2024 - 年度业绩