Financial Performance - The company reported a total revenue of HKD 11,978.79 million for the year ended December 31, 2024, representing a 15% increase from HKD 10,385.81 million in 2023[3]. - Shareholders' profit attributable to the company was HKD 140.75 million, a significant increase of 114% compared to HKD 65.92 million in 2023[3]. - Basic earnings per share rose to HKD 15.51, up 114% from HKD 7.26 in the previous year[3]. - The net profit for 2024 is HKD 171.02 million, compared to HKD 92.78 million in 2023, showing an increase of about 84.3%[40]. - The group reported a profit of HKD 280,654,000 for 2024, an increase of 43.7% compared to HKD 195,245,000 in 2023[61]. - Total comprehensive income for the year amounted to HKD 118,048,000, up 150.5% from HKD 47,097,000 in the previous year[41]. - The food bio division's profit was HKD 234,035,000, significantly up from HKD 100,369,000 in 2023[59]. Dividends - The board proposed a final dividend of HKD 2.50 per share, an increase of 25% from HKD 2.00 per share in 2023, resulting in a total dividend of HKD 3.50 per share for the year, up 17%[5]. - The proposed final dividend per ordinary share increased to HKD 0.025 in 2024 from HKD 0.020 in 2023, reflecting a growth of 25.0%[74]. - The company declared an interim dividend of HKD 0.01 per share for 2024, consistent with 2023[94]. - The eligibility period for shareholders to receive the proposed final dividend will be from June 26 to June 27, 2025[95]. - Shareholders must submit all relevant documents by June 25, 2025, to qualify for the final dividend[95]. Business Operations and Strategy - The company is focusing on the food biotechnology sector, aiming to strengthen its supply chain from slaughtering to fresh product sales, and is investing in digital transformation to optimize business processes[6][12]. - A new project was established in collaboration with Foshan Nanhai Dream Water Town Investment Co., Ltd. to build and operate a modern slaughterhouse, integrating processing, cold chain distribution, and sales[7]. - The company plans to enhance its market presence in the food biotechnology sector by expanding its retail network and diversifying its product offerings[7]. - The company aims to drive technological innovation in the tinplate business to improve product quality and competitiveness, while also expanding its customer base both domestically and internationally[10]. - The group has established a joint venture for a slaughterhouse project in Foshan with a registered capital of RMB 90 million, where the group holds a 65% stake[29]. - The group plans to explore new business models and strengthen risk management to adapt to the complex market environment[17]. Market and Economic Outlook - The outlook for 2025 indicates that the company will face new opportunities and challenges due to structural reforms and innovation-driven strategies in the Chinese economy[11]. - The pig farming sector in mainland China is showing signs of improvement, with rising prices and reduced costs due to better feed prices and farming efficiency, leading to profitability for one of the company's joint ventures[8]. - Revenue from external customers in Hong Kong increased to HKD 1,114,387,000 in 2024 from HKD 809,087,000 in 2023, representing a growth of 37.7%[64]. - Revenue from external customers in mainland China rose to HKD 10,365,267,000 in 2024 compared to HKD 9,064,873,000 in 2023, an increase of 14.3%[64]. Financial Position - Total assets as of December 31, 2024, amounted to HKD 4.938 billion, an increase of HKD 149 million from the previous year[24]. - Cash and cash equivalents decreased by 8% to HKD 955 million, with 79.1% held in RMB[25]. - The group has available bank credit facilities of HKD 2.746 billion, with HKD 813 million already utilized[26]. - Total liabilities increased to HKD 2,081,478,000, compared to HKD 1,993,356,000 in 2023, marking an increase of 4.4%[43]. - The company reported a net asset value of HKD 2,856,836,000, up from HKD 2,795,645,000, representing a growth of 2.2%[43]. - The group’s liabilities rose to HKD 2,081,478,000 in 2024, compared to HKD 1,993,356,000 in 2023[61]. Operational Efficiency - The group aims to enhance asset operation efficiency and optimize capital structure to ensure stable growth in operating performance[15]. - The group achieved a slaughter volume of over 3 million live pigs, securing a leading market share in Guangdong Province[17]. - The rental property business recorded an occupancy rate of 84%, down 3 percentage points from 2023, with revenue of HKD 18.03 million, a decrease of 10%[22]. - The group’s capital expenditure for 2024 is HKD 54.37 million, a decrease from HKD 261 million in 2023[27]. Other Financial Metrics - The gross profit for 2024 is HKD 509.01 million, down from HKD 568.99 million in 2023, indicating a decrease of about 10.4%[40]. - The operating profit for 2024 is HKD 236.15 million, a decline from HKD 278.22 million in 2023, reflecting a decrease of approximately 15.1%[40]. - Interest income from financial assets measured at amortized cost decreased to HKD 7,632,000 in 2024 from HKD 13,639,000 in 2023, a decline of 44.0%[66]. - Total employee costs increased to HKD 338,988,000 in 2024 from HKD 309,670,000 in 2023, representing a growth of 9.5%[69]. - The effective tax rate for Hong Kong profits tax remained at 16.5% for both 2024 and 2023[71].
广南(集团)(01203) - 2024 - 年度业绩