Financial Performance - The company's revenue for the year ended December 31, 2024, reached approximately $2,494,258,000, an increase of about 170.0% compared to the previous year[2] - The net profit attributable to equity shareholders for the year ended December 31, 2024, was approximately $119,055,000, reflecting an increase of approximately 155.54% from the previous year[2] - Basic earnings per share for the year ended December 31, 2024, were $0.139, up approximately 152.73% from $0.055 in the previous year[2] - The gross profit for the year ended December 31, 2024, was $290,907,000, compared to $127,766,000 in the previous year, indicating significant growth[5] - Total comprehensive income for the year ended December 31, 2024, was $107,950,000, compared to $39,269,000 in the previous year[7] - The total revenue for 2024 was 2,494,258 thousand HKD, compared to 923,846 thousand HKD in 2023, indicating a growth of 170.5%[19] - The group's revenue increased from approximately $923.8 million in 2023 to $2,494.3 million in 2024, representing a growth of 170%[37] - The net profit attributable to equity shareholders rose from approximately $46.6 million in 2023 to $119.1 million in 2024, marking an increase of 155%[37] - Gross profit, operating profit, and net profit for the year ending December 31, 2024, were approximately $290.9 million, $156.4 million, and $120.4 million, respectively, compared to approximately $127.8 million, $59.7 million, and $46.4 million in 2023[46] Assets and Liabilities - Non-current assets increased to $407,473,000 as of December 31, 2024, from $195,411,000 in the previous year[9] - Current assets totaled $1,035,081,000 as of December 31, 2024, compared to $747,885,000 in the previous year[9] - The company's total equity attributable to equity shareholders increased to $516,533,000 as of December 31, 2024, from $409,655,000 in the previous year[10] - Total assets as of December 31, 2024, were $1,442.6 million, up from $943.3 million in 2023, indicating a growth of 53%[37] - Trade receivables increased significantly to 405,251 thousand HKD in 2024 from 152,813 thousand HKD in 2023, a growth of 165.5%[30] - Trade payables also rose to 477,056 thousand HKD in 2024, compared to 209,195 thousand HKD in 2023, indicating an increase of 128.3%[32] Customer Concentration - The largest customer accounted for 97% of total revenue in 2024, with sales to this customer amounting to $2,418,117,000, up from 93% in 2023[16] Expenses - The financing costs increased to 18,706 thousand HKD in 2024 from 9,567 thousand HKD in 2023, reflecting a rise of 95.5%[21] - Employee costs rose to 125,079 thousand HKD in 2024, up from 66,751 thousand HKD in 2023, marking an increase of 87.5%[21] - Sales and distribution expenses increased by approximately 61.9% to about $3.4 million in 2024, primarily due to increased transportation and labor costs[47] - Administrative expenses rose by approximately 37.2% to about $108.1 million in 2024, mainly due to an increase in R&D expenses and other administrative costs[49] - Financing costs increased by approximately 94.8% to about $18.7 million in 2024, attributed to higher bank loan interest expenses[49] Market and Technology - The global LiDAR market is projected to expand at a CAGR of 14.7%, reaching $3.795 billion by 2031, highlighting significant growth opportunities in high-precision sensing technology[42] - The integration of AI technology is expected to drive significant demand for high-precision optical components, particularly in smart devices and autonomous driving applications[40] - The company plans to actively develop MicroLED technology to meet the growing market demand for efficient and energy-saving display solutions[43] Strategic Focus - The company aims to enhance its product quality and market responsiveness through increased R&D investment and collaboration with domestic and international partners[39] - The company is focused on expanding its market presence and enhancing internal efficiencies to create maximum value for shareholders[45] - The board has recommended not to declare dividends for the fiscal year ending December 31, 2024, to ensure continued investment in optical business development[37] - The group did not declare any dividends for the year, consistent with 2023[58] Other Information - The company reported a net foreign exchange gain of 10,966 thousand HKD in 2024, compared to a gain of 1,049 thousand HKD in 2023, reflecting a substantial increase[19] - The deferred tax expense for 2024 was 17,323 thousand HKD, up from 3,720 thousand HKD in 2023, indicating a rise of 365.5%[23] - The company recorded an impairment loss related to property, plant, and equipment of $49.4 million in 2024, significantly up from $1.2 million in 2023[37] - The group employed approximately 6,035 full-time employees as of December 31, 2024, compared to 5,764 employees in 2023, with total employee costs reaching approximately $124.2 million[55] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules appendix C3[65] - No significant events have occurred after the reporting period that would require disclosure[66] - The annual performance announcement and annual report for 2024 will be published on the company's website and the Hong Kong Stock Exchange website[67]
高伟电子(01415) - 2024 - 年度业绩