Financial Performance - Revenue for the year ended December 31, 2024, increased by 11.7% to HKD 5,385.7 million[3] - Gross profit for the year ended December 31, 2024, rose by 15.5% to HKD 1,048.2 million, with a gross margin increase of 0.7 percentage points to 19.5%[3] - Profit before tax for the year ended December 31, 2024, increased by 10.1% to HKD 427.0 million[3] - Profit attributable to owners of the company for the year ended December 31, 2024, grew by 16.7% to HKD 383.9 million[3] - Basic and diluted earnings per share for the year ended December 31, 2024, were HKD 0.373, compared to HKD 0.319 for the previous year[4] - Total comprehensive income attributable to owners of the company for the year ended December 31, 2024, was HKD 346.6 million, up from HKD 304.2 million in the previous year[5] - The group reported a profit before tax of HKD 427,049,000 for 2024, compared to HKD 387,879,000 for 2023[33] - Basic earnings per share increased to 37.3 HKD cents in 2024 from 31.9 HKD cents in 2023[35] Dividends - The board proposed a final dividend of HKD 0.06 per share, subject to shareholder approval at the 2025 Annual General Meeting[3] - The proposed final dividend for the year ending December 31, 2024, is 6.0 HKD cents per share, totaling HKD 61,823,000[39] - The total cash dividend paid in 2024 amounted to HKD 152,497,000, which includes HKD 98,917,000 for the final dividend of 2023 and HKD 53,580,000 for the interim dividend of 2024[38] Assets and Liabilities - Total assets increased to HKD 5,409,651 thousand in 2024, up from HKD 4,319,552 thousand in 2023, representing a growth of 25.3%[7] - Total liabilities reached HKD 3,558,056 thousand in 2024, compared to HKD 2,668,298 thousand in 2023, indicating a rise of 33.3%[8] - Cash and cash equivalents rose to HKD 328,104 thousand in 2024, compared to HKD 150,476 thousand in 2023, representing a growth of 117.5%[7] - Trade and other payables increased to HKD 2,623,657 thousand in 2024, up from HKD 1,735,309 thousand in 2023, a growth of 51.3%[8] - Trade receivables increased to HKD 1,458,997,000 in 2024 from HKD 1,176,536,000 in 2023, representing a growth of approximately 24%[43] - The total borrowings decreased slightly to HKD 650,741,000 in 2024 from HKD 654,899,000 in 2023[45] Segment Performance - Revenue from external customers for the smart chargers segment reached HKD 2,009,551 thousand, contributing to a total revenue of HKD 5,385,748 thousand for the year ended December 31, 2024[20] - The segment performance for smart chargers was HKD 537,022 thousand, while total segment performance amounted to HKD 1,048,154 thousand[20] - The industrial power segment's revenue increased by 20.5%, accounting for 37.3% of total revenue[54] - The new energy segment saw a revenue increase of 37.3%, representing 19.5% of total revenue[56] - The revenue from telecommunications equipment segment decreased by 5.8% to HKD 1,456.0 million due to a slowdown in business from Chinese smartphone manufacturers[76] Expenses - Total operating expenses for the year 2024 were HKD 5,022,124 thousand, an increase from HKD 4,513,472 thousand in 2023[24] - Research and development expenses for 2024 amounted to HKD 225,428 thousand, up from HKD 175,162 thousand in 2023[24] - Administrative expenses rose by 21.6% to HKD 506.2 million for the fiscal year ending December 31, 2024, primarily due to hiring more engineers and professionals[86] Cash Flow - Cash generated from operating activities for the fiscal year ending December 31, 2024, was HKD 813.7 million, up from HKD 484.7 million in the previous year[94] - Cash used in investing activities increased to HKD 358.8 million for the fiscal year ending December 31, 2024, primarily due to significant investments in property and machinery[94] - As of December 31, 2024, the net cash used in financing activities was HKD 276.4 million, a decrease from HKD 377.3 million in 2023 due to reduced bank borrowings since 2023[95] Corporate Governance - The board of directors has established various committees to ensure compliance with corporate governance principles, enhancing transparency and accountability[104] - The company has established an audit committee consisting of four independent non-executive directors to review the consolidated financial performance for the year ending December 31, 2024[113] - The independent auditor confirmed that the financial statements for the year ending December 31, 2024, are consistent with the audited consolidated financial statements[116] Future Outlook - The company plans to launch several new high-power charging module products in the second half of 2024[54] - The company is focusing on developing smart chargers and digital power products to meet future market demands[55] - The company plans to develop new charging equipment that meets the newly released international standards for electric vehicle charging stations, aiming for significant growth in the new energy sector by 2025[71] - The group aims to achieve breakthroughs in the new energy and AI smart manufacturing sectors to ensure sustainable growth and returns for shareholders[72] Risk Management - Approximately 50% of the group's revenue and receivables are denominated in USD and HKD, while sales costs are primarily in RMB, exposing the company to foreign exchange risk[97] - The group has implemented policies to ensure credit is only extended to customers with good credit records, minimizing credit risk exposure[99]
天宝集团(01979) - 2024 - 年度业绩