载通(00062) - 2024 - 年度业绩

Financial Performance - For the fiscal year ending December 31, 2024, the group's basic earnings attributable to shareholders were HKD 2.655 billion, up from HKD 1.143 billion in the previous year, representing an increase of approximately 132.5%[3] - The basic earnings per share increased to HKD 0.53 from HKD 0.24, reflecting a growth of 120.8% year-on-year[4] - The total revenue for the year was HKD 8.215 billion, compared to HKD 7.885 billion in 2023, marking an increase of about 4.2%[4] - The flagship company, Kowloon Motor Bus Company, recorded a profit after tax of HKD 1.268 billion, up from HKD 115 million in 2023, indicating a significant improvement[3] - The operating profit rose to HKD 411.656 million from HKD 214.552 million, an increase of approximately 92%[4] - The total comprehensive income for the year was HKD 416.584 million, down from HKD 502.809 million in the previous year, a decrease of about 17.1%[6] - The company reported a net profit of HKD 187,282,000 for the year 2024, compared to HKD 401,663,000 in 2023, showing a decline of about 53.4%[19] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.50 per share, unchanged from the previous year, while the total annual dividend decreased from HKD 0.80 to HKD 0.50 per share[3] - The proposed final dividend for 2024 is HKD 0.50 per share, consistent with the HKD 0.50 per share in 2023, maintaining the same payout level[30] - The board proposed a final dividend of HKD 0.50 per share for 2024, totaling HKD 2.545 billion, compared to HKD 2.472 billion in 2023[49] Assets and Liabilities - Non-current assets totaled HKD 20.721 billion, slightly down from HKD 20.888 billion in 2023[9] - Current liabilities decreased to HKD 2.519 billion from HKD 3.169 billion, improving the net current asset position to HKD 669.949 million from HKD 130.250 million[9] - The total assets of the company as of December 31, 2024, amounted to HKD 23,909,474,000, slightly down from HKD 24,187,089,000 in 2023[19] - The total liabilities decreased to HKD 7,200,142,000 in 2024 from HKD 7,781,502,000 in 2023, indicating a reduction of approximately 7.5%[19] - The company's trade and other receivables decreased to HKD 998.479 million in 2024 from HKD 1,025.064 million in 2023, indicating a reduction in outstanding receivables[40] - The total payables and accrued expenses decreased to HKD 1,576.416 million in 2024 from HKD 1,804.116 million in 2023, reflecting improved cash management[42] Operating Costs and Expenses - The total operating cost for 2024 was HKD 7.1503 billion, up HKD 800 million or 11.3% from HKD 7.0703 billion in 2023, primarily due to rising labor costs[55] - Employee costs increased to HKD 4,419,109,000 in 2024 from HKD 4,133,899,000 in 2023, reflecting an increase of approximately 6.9%[19] - Employee costs account for approximately 56% of the total operating costs in 2024, up from 54% in 2023[80] Investment Properties and Fair Value Changes - The fair value change of investment properties decreased by HKD 78.2 million, compared to an increase of HKD 287.4 million in the previous year[4] - The company recorded a fair value change of investment properties and development properties of HKD (78,200,000) in 2024, compared to HKD 287,380,000 in 2023[19] - The fair value changes of investment properties and properties under development resulted in a loss of HKD 78.200 million in 2024, compared to a gain of HKD 287.380 million in 2023[38] Government Subsidies and Other Income - The total government subsidies received increased to HKD 15,744,000 in 2024 from HKD 7,748,000 in 2023, representing a growth of about 103.63%[25] - Other net income for 2024 was HKD 112,399,000, an increase from HKD 68,106,000 in 2023, marking a growth of approximately 64.96%[25] Future Outlook and Strategic Initiatives - The company anticipates continued improvement in its core business operations, particularly in public transportation services, which is expected to drive future earnings growth[47] - The group plans to leverage the development of the Northern Metropolis area, which will see the completion of 60,000 residential units over the next five years[81] Capital Expenditure and Financing - The group's capital expenditure for the year ending December 31, 2024, is HKD 15.68 billion, down from HKD 16.04 billion in 2023, primarily due to reduced fleet renewal[79] - The group's net debt as of December 31, 2024, is HKD 22.81 billion, a decrease from HKD 29.84 billion in 2023[76] - The current ratio is 1.3 as of December 31, 2024, compared to 1.0 in 2023, indicating improved liquidity[76] - The total unused bank credit as of December 31, 2024, is HKD 28.70 billion, an increase from HKD 24.50 billion in 2023[76] Projects and Developments - The Millenniity project, located in Kwun Tong, has a total floor area of approximately 650,000 square feet, with two office towers providing 20 floors each[64] - The Millenniity's retail space, covering over 500,000 square feet, is currently under construction and is expected to open in 2025[65] - The Millennity project in East Kowloon has received the highest level of LEED and WELL certifications, indicating strong performance in energy efficiency and environmental sustainability[82] - The project spans 1.15 million square feet and consists of two 20-story grade A office towers and a 10-story large shopping mall, with office spaces already leased to several major companies[82] Transportation and Passenger Volume - The total fare revenue for 2024 was HKD 6.9493 billion, an increase of HKD 208.6 million or 3.1% from HKD 6.7407 billion in 2023, driven by an increase in passenger volume[54] - The total passenger volume for 2024 was 940.3 million, averaging 2.57 million passengers per day, a 1.8% increase from 923.6 million in 2023[54] - The after-tax profit for 九巴 (Kowloon Motor Bus) in 2024 was HKD 1.268 billion, compared to HKD 1.150 million in 2023[54] - The after-tax profit for 龍運 (Long Win Bus) in 2024 was HKD 41.7 million, up from HKD 23.1 million in 2023[57] - The fare revenue for 龍運 in 2024 was HKD 6.267 billion, an increase of HKD 1 billion or 19.0% from HKD 5.267 billion in 2023[57] - The total operating cost for 龍運 in 2024 was HKD 5.782 billion, an increase of HKD 817 million or 16.5% from HKD 4.965 billion in 2023[58] - The after-tax profit for the non-franchised bus business in 2024 was HKD 20.6 million, compared to HKD 13.9 million in 2023[59] - Xinjing Bus reported a revenue increase of 27.6% in 2024 compared to 2023, driven by increased passenger volume from Hong Kong residents traveling to Shenzhen[62] - Shenzhen Bus Group's passenger volume decreased by 11.3% from 460 million in 2023 to 408 million in 2024 due to intense competition from various transportation modes[71] Governance and Compliance - The Audit and Risk Management Committee has reviewed the accounting principles and policies adopted by the group, discussing internal controls and financial reporting for the fiscal year ending December 31, 2024[87] - The company has not engaged in any share buybacks, sales, or redemptions during the fiscal year[84]