Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 3.16 billion, a slight decrease of 1.7% compared to HKD 3.22 billion in the previous year[3]. - The sales volume decreased by 9.6% to 264,000 tons from 292,000 tons year-on-year[3]. - Shareholders' profit attributable to the company increased by 11.8% to HKD 96.9 million, up from HKD 86.6 million in the previous year[3]. - The overall gross profit margin decreased to 23.5%, down 0.8 percentage points from the previous year due to challenges in the construction paint market[2]. - The group achieved a net profit attributable to shareholders of HKD 96.9 million, an increase of 11.8% compared to the same period last year[16]. - Gross profit for 2024 was HKD 743,646,000, down 4.9% from HKD 782,270,000 in the previous year[45]. - The net profit for the year was HKD 95,694,000, representing a significant increase of 57.9% compared to HKD 60,596,000 in 2023[45]. - The company reported a total of HKD 88,216,000 in segment profit for the year, compared to HKD 96,024,000 from joint ventures[72]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.11 per share, an increase from HKD 0.10 per share in the previous year[3][8]. - The interim dividend for 2024 was declared at HKD 0.03 per share, compared to HKD 0.02 per share in 2023, marking a 50% increase[83]. - The company plans to propose a final dividend of HKD 0.11 per share for the year ending December 31, 2024, up from HKD 0.10 per share in 2023, totaling approximately HKD 61,431,000[84]. - The company has repurchased a total of 10,024,000 shares during the year, with a total cost of HKD 14,834,000[90]. Debt and Financial Position - The company maintained a low debt ratio of 16.7%, compared to 14.0% in 2023, providing flexibility for future investment projects[2][3]. - The group's net bank borrowings increased to HKD 632,336,000 from HKD 547,546,000 in the previous year[27]. - The group's debt ratio increased to 16.7%, up 2.7 percentage points from 14.0% in 2023[25]. - As of December 31, 2024, the group's bank borrowings totaled HKD 1,226,713,000, down from HKD 1,401,793,000 in 2023[27]. - The group plans to continue increasing its RMB bank loans in mainland China to benefit from lower interest costs and mitigate RMB exchange rate fluctuation risks[30]. Business Segments and Performance - The paint business saw a 16% decrease in sales volume to 184,000 tons and an 8% drop in revenue to HKD 1.46 billion, with the construction paint segment facing a sluggish real estate market[16]. - The ink business recorded a revenue of HKD 1.36 billion, an increase of 13% year-on-year, with a significant profit growth of 104% to HKD 77.2 million[18]. - The lubricant business revenue decreased by 6% to HKD 320 million, with a gross margin increase of 1.5 percentage points to 23.3%[19]. - Revenue from paint sales was HKD 1,461,221,000, down 7.8% from HKD 1,584,770,000 in the previous year[67]. - Revenue from ink sales increased to HKD 1,364,529,000, up 13.2% from HKD 1,205,915,000 in 2023[67]. - Revenue from lubricants was HKD 323,580,000, a decrease of 6.0% from HKD 344,282,000[67]. Cash Flow and Investments - The group's net cash inflow was HKD 86,546,000, a decrease from HKD 236,544,000 in the previous year[26]. - The company reported a net cash outflow from investment activities of HKD 226,064 thousand in 2024, compared to a net cash inflow of HKD 655,382 thousand in 2023[53]. - The company reported a foreign exchange loss of HKD 162,612,000 for the year, compared to a loss of HKD 91,885,000 in 2023[45]. - The company recognized an impairment loss of HKD 57,504,000 on goodwill and intangible assets in the previous year, which was not repeated in 2024[45]. Strategic Initiatives and Future Outlook - The group plans to focus resources on industrial paints and resins to drive business growth in these segments while reassessing the construction paint market[17]. - The group is optimistic about the Chinese economy's continued growth and is preparing to seek more business opportunities amid changing market conditions[11]. - The group aims to explore one or two pilot projects this year to enhance its growth model through strategic acquisitions in the chemical sector[11]. - The company is currently assessing the impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[65]. - The company operates in four main business segments: paint, ink, lubricants, and property[69]. Human Resources and Employee Management - As of December 31, 2024, the group employs a total of 2,189 staff, a decrease from 2,561 in 2023[31]. - The group emphasizes the management and development of human resources, providing training and educational assistance programs to enhance employee skills and performance[32].
叶氏化工集团(00408) - 2024 - 年度业绩