Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 227,796,000, a decrease of 3.0% from HKD 235,507,000 in 2023[4] - Gross profit for the year was HKD 61,470,000, down 11.7% from HKD 69,598,000 in the previous year[4] - The net profit for the year was HKD 18,717,000, representing a decline of 14.4% compared to HKD 21,890,000 in 2023[4] - Basic earnings per share decreased to HKD 0.019 from HKD 0.024, a reduction of 20.8% year-over-year[6] - The total comprehensive income for the year was HKD 13,819,000, an increase of 16.6% from HKD 11,838,000 in 2023[6] - The group reported a pre-tax profit of HKD 24,182,000 for 2024, down from HKD 29,787,000 in 2023, indicating a decline of 18.7%[35] - Net profit for the reporting period was approximately HKD 18.7 million, a decrease of about 14.5% from HKD 21.9 million in the previous year, with a net profit margin of approximately 8.2%[65] Revenue Breakdown - Revenue from the Americas decreased to HKD 12,680,000 in 2024 from HKD 15,014,000 in 2023, representing a decline of 15.5%[21] - Revenue from the Asia region increased significantly to HKD 11,849,000 in 2024, up from HKD 7,538,000 in 2023, marking a growth of 57.5%[21] - Revenue from mainland China was HKD 201,905,000 in 2024, slightly down from HKD 210,799,000 in 2023, a decrease of 4.2%[21] - The total revenue for the reporting period was approximately HKD 227.8 million, a decrease of about 3.3% compared to HKD 235.5 million in the previous year[59] - Revenue from the Chinese market was approximately HKD 201.9 million, down from HKD 210.8 million in the previous year, primarily due to low consumer confidence and weak domestic demand[59] Assets and Liabilities - Total assets decreased to HKD 262,673,000 from HKD 323,924,000, a decline of 18.9%[9] - Non-current assets dropped significantly from HKD 218,886,000 in 2023 to HKD 173,580,000 in 2024, a decrease of 20.7%[8] - Non-current assets totaled HKD 170,509,000 in 2024, down from HKD 216,289,000 in 2023, reflecting a decrease of 21.1%[22] - Trade receivables decreased to HKD 26,439,000 in 2024 from HKD 29,517,000 in 2023, a decrease of 10.5%[38] - The net book value of property, plant, and equipment as of December 31, 2024, was HKD 160,222,000, down from HKD 182,141,000 in 2023[49] Expenses and Costs - The cost of sales was approximately HKD 166.3 million, accounting for about 73.0% of total revenue, an increase of approximately 2.6% from 70.4% in the previous year[60] - Selling and distribution expenses decreased by approximately 10.7% to HKD 4.4 million, down from HKD 4.9 million in the previous year due to strict cost control measures[62] - The total tax expense for the year was HKD 5,465,000, a decrease from HKD 7,897,000 in 2023, which is a reduction of 30.8%[33] - Employee costs for the reporting period were approximately HKD 34.3 million, up from HKD 32.9 million in the previous year, with a total of 269 employees as of December 31, 2024[76] Research and Development - The company reported an increase in R&D expenses to HKD 10,928,000, up 5.9% from HKD 10,323,000 in the previous year[4] - Research and development costs rose to HKD 10,928,000 in 2024, compared to HKD 10,323,000 in 2023, reflecting an increase of 5.9%[29] Shareholder Information - The board proposed a final dividend of HKD 0.28 per share for the year ending December 31, 2024, down from HKD 0.40 per share in 2023[96] - The total number of issued shares as of December 31, 2024, was 956,675,000 shares, an increase from 911,607,000 shares as of December 31, 2023[73] - A total of 94,932,000 shares were repurchased and cancelled, with a total expenditure of HKD 65,921,520[94] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[12] - The company expressed confidence in its long-term strategy and growth, stating that the current trading price does not reflect its intrinsic value[94] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements and related materials during the reporting period[86] - The company has adopted a standard code of conduct for directors' securities trading, confirming compliance during the reporting period[95] - The risk management committee reviewed the hedging policies related to aluminum ingot forward procurement activities[91] - The remuneration committee is responsible for recommending compensation policies for the board and senior management[88] - The nomination committee ensures a balanced composition of the board with appropriate skills and experience[90]
中国铝罐(06898) - 2024 - 年度业绩