Financial Performance - Revenue for the year ended December 31, 2024, increased to HKD 2,358,290,000, up 21.2% from HKD 1,945,721,000 in 2023[4] - Net profit for the year was HKD 261,850,000, representing a 28.3% increase compared to HKD 204,191,000 in the previous year[4] - Basic earnings per share rose to HKD 0.32, up from HKD 0.25, reflecting a 28% increase[4] - Total revenue for the year 2024 reached HKD 2,490,253,000, an increase of 20.8% from HKD 2,062,578,000 in 2023[18] - The net profit for 2024 was HKD 261,850,000, representing a 28.3% increase compared to HKD 204,191,000 in 2023[22] - Basic earnings per share increased to HKD 0.32 in 2024 from HKD 0.25 in 2023, reflecting a growth of 28%[22] - Gross profit for the year ending December 31, 2024, was approximately HKD 625.8 million, up 22.0% from HKD 512.8 million in 2023, with a gross margin increase to 26.5%[55] - Net profit increased by 28.2% to HKD 261.9 million, with a net profit margin of 11.1%, up 0.6 percentage points from 10.5% in 2023[39] Dividends - Proposed final dividend per share is HKD 0.088, an increase from HKD 0.075 in the previous year, while special dividend remains at HKD 0.10[4] - The company declared an interim dividend of HKD 0.04 per share, up from HKD 0.028 per share in 2023, marking a 42.9% increase[25] - The board of directors proposed a final dividend of HKD 0.088 per share and a special dividend of HKD 0.10 per share, totaling HKD 73,326,880 and HKD 83,326,000 respectively[98] - The total annual dividend per share for the year ending December 31, 2024, is proposed to be HKD 0.228[98] - The company will ensure compliance with applicable laws and regulations regarding dividend payments[98] Profitability and Margins - Gross profit margin improved slightly to 26.5% from 26.4% year-on-year[4] - The gross profit rose by 22.0% to HKD 625.8 million, with a gross margin of 26.5%, up 0.1 percentage points from 26.4% in 2023[39] - The company reported a significant increase in orders, with sales orders reaching HKD 889.1 million, a 7.0% increase from HKD 830.6 million in 2023[40] - The injection molding segment's revenue was approximately HKD 1,660.1 million, up 25.2% from HKD 1,326.1 million in 2023, accounting for 70.4% of total revenue[46] - The mobile and wearable devices sector saw revenue growth of 41.7%, driven by new product launches from wireless earphone and smart bracelet brands[46] - The mold manufacturing business generated revenue of approximately HKD 698.2 million, a 12.7% increase from HKD 619.6 million in 2023, representing 29.6% of total revenue[41] Assets and Liabilities - Total assets increased to HKD 2,576,743,000 from HKD 2,451,591,000, showing a growth of 5.1%[9] - Current ratio decreased to 263.4% from 276.0%, while quick ratio also declined to 209.2% from 222.9%[4] - The company fully repaid its bank borrowings during the year, resulting in a debt-to-equity ratio of 0%[4] - The group’s current assets as of December 31, 2024, were approximately HKD 1,264.7 million, compared to HKD 1,193.1 million in 2023[66] - Trade payables rose to HKD 292,330,000 in 2024, compared to HKD 227,712,000 in 2023, indicating an increase of 28.4%[31] - Trade and other receivables rose to HKD 454,266,000 from HKD 352,814,000, reflecting a significant increase of 28.8%[8] Taxation - The company reported a total tax expense of HKD 71,359,000 for 2024, significantly higher than HKD 32,803,000 in 2023, reflecting a 117% increase[19] - The actual tax rate for the year ending December 31, 2024, was 21.4%, an increase of 7.6 percentage points from 13.8% in 2023[64] Operational Efficiency - The inventory turnover days decreased to 87 days in 2024, down 15 days from 102 days in 2023, primarily due to significant growth in the injection molding segment[70] - Trade payables turnover days decreased by 6 days to 55 days as of December 31, 2024, compared to 2023[72] - The company reduced administrative expenses to 12.9% of total revenue, down from 14.1% in 2023[39] Future Outlook and Strategy - The company anticipates continued growth in revenue and profitability for the upcoming fiscal year, driven by market expansion and new product development initiatives[18] - The group plans to expand production capacity in Vietnam, increasing the factory area by four times to meet rising market demand[88] - The group is enhancing its manufacturing capabilities in Suzhou and Shenzhen to improve production efficiency and meet stringent design requirements[88] - The group is actively exploring vertical integration opportunities and potential acquisitions to provide comprehensive solutions to customers[85] - The company is committed to enhancing core competitiveness to respond to market changes and is leveraging data platforms and AI technologies to optimize production management[90] - The company aims to maintain sufficient cash flow and implement rigorous financial management strategies in a high-interest rate environment[90] Governance and Compliance - The audit committee has reviewed the financial reporting procedures and risk management systems to ensure adequate resources and qualified personnel[94] - The company has adopted corporate governance policies to enhance transparency and accountability in its operations[92] - The group has no significant contingent liabilities as of December 31, 2024, consistent with 2023[82] - The group has no pledged assets as of December 31, 2024, consistent with 2023[74] - The group has no significant acquisitions or disposals as of December 31, 2024, same as in 2023[81] Market Conditions - Global economic growth is projected at 3.3% for 2025, with China's growth forecast raised to 4.6% due to fiscal stimulus[84] - The overall revenue of the medical and personal care segment increased by 0.2% for the year ending December 31, 2023, with personal care brand customer revenue rising significantly by 34.5%[48] Shareholder Information - The company will suspend share transfer registration from May 20 to May 23, 2025, for the upcoming annual general meeting[100] - The annual performance announcement for the year ending December 31, 2024, will be available on the company's website and the stock exchange[102]
东江集团控股(02283) - 2024 - 年度业绩