Financial Performance - Total revenue for the fiscal year ending December 31, 2024, was HKD 4,647.9 million, a decrease of 18.0% compared to HKD 5,665.9 million in 2023[3] - Gross profit for the fiscal year ending December 31, 2024, was HKD 311.7 million, down 29.4% from HKD 441.5 million in 2023[3] - Net profit attributable to owners of the company for the fiscal year ending December 31, 2024, increased by 41.1% to HKD 100.3 million from HKD 71.1 million in 2023[3] - Basic and diluted earnings per share for the fiscal year ending December 31, 2024, were HKD 0.2141 and HKD 0.2139, respectively, compared to HKD 0.1508 and HKD 0.1505 in 2023[3] - The company reported a total tax expense of HKD 13,837 for 2024, a decrease from HKD 16,736 in 2023[28] - The company's total comprehensive income for the year was HKD 101,053, up from HKD 92,505 in 2023[23] Dividends - The board proposed a final dividend of HKD 0.10 per share for the fiscal year ending December 31, 2024, up from HKD 0.05 per share in 2023[3] - The company proposed a final dividend of HKD 0.10 per ordinary share for the year ending December 31, 2024, totaling approximately HKD 48,868,000, compared to HKD 23,469,000 in 2023[29] Expenses - Other income for the fiscal year ending December 31, 2024, was HKD 21.3 million, down from HKD 43.7 million in 2023[4] - Research and development expenses for the fiscal year ending December 31, 2024, were HKD 31.5 million, slightly down from HKD 32.5 million in 2023[4] - Administrative expenses decreased to HKD 73.0 million in 2024 from HKD 116.0 million in 2023[4] - Financial expenses for the fiscal year ending December 31, 2024, were HKD 26.6 million, a reduction of HKD 30.4 million from HKD 57.0 million in 2023[70] - Total employee costs (excluding directors' remuneration) for 2024 were HKD 72,129,000, down from HKD 137,596,000 in 2023, reflecting a significant reduction[29] - The company reported a total of HKD 119,877,000 in employee costs for 2024, compared to HKD 190,124,000 in 2023, indicating a decrease of approximately 37%[29] Assets and Liabilities - Total assets decreased from HKD 1,400,325 thousand in 2023 to HKD 1,339,075 thousand in 2024, a decline of approximately 4.4%[7] - Current assets decreased from HKD 610,134 thousand in 2023 to HKD 569,908 thousand in 2024, representing a decrease of about 6.6%[7] - Total liabilities decreased from HKD 830,417 thousand in 2023 to HKD 728,941 thousand in 2024, a reduction of approximately 12.2%[7] - Non-current liabilities decreased from HKD 5,467 thousand in 2023 to HKD 5,199 thousand in 2024, a decline of about 4.9%[8] - The company's net asset value increased from HKD 904,413 thousand in 2023 to HKD 959,776 thousand in 2024, an increase of approximately 6.1%[8] - The company's goodwill remained stable at HKD 20,159 thousand for both 2023 and 2024[7] Revenue Segmentation - The revenue from electronic components sales was HKD 4,594,548, while mixed distribution revenue was HKD 53,348, indicating a significant decline in mixed distribution[17] - Revenue from external customers for the year ended December 31, 2024, was HKD 4,647,896, a decrease of 18% from HKD 5,665,885 in 2023[23] - Revenue from external customers in Hong Kong for 2024 was HKD 2,564,489, down from HKD 4,242,407 in 2023, indicating a significant decline[26] - Revenue from external customers in China increased to HKD 1,604,987 in 2024, up from HKD 1,264,470 in 2023, reflecting a growth of 27%[26] - The segment profit for the licensing distribution segment was HKD 83,225 for 2024, compared to HKD 58,696 in 2023, showing an increase of 42%[23] Market Trends and Projections - In 2024, the global semiconductor market is projected to grow by 19% to reach $627 billion, driven primarily by AI-related chips such as high-bandwidth memory (HBM) and logic chips, which are expected to grow by 81% and 16.9% respectively[38] - The global smart home market is expected to grow by 7% in 2024, reaching USD 125 billion, indicating robust demand for smart vision solutions[40] - The global market for high-end optical modules is anticipated to maintain a strong growth trend, contributing to the business unit's performance growth targets[60] - The global automotive display panel market saw a year-on-year shipment increase of 11% in the first half of 2024, reaching 110 million units[57] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the group's audited consolidated financial statements for the year ended December 31, 2024[101] - The company announced its annual performance report for the year ending December 31, 2024, which will be published on the Hong Kong Stock Exchange and the company's website[104] - The annual general meeting is scheduled for May 23, 2025, with notifications to be published in accordance with listing rules[105]
芯智控股(02166) - 2024 - 年度业绩