Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 612,967,000, an increase of 10% from HKD 557,221,000 in the previous year[4] - Gross profit for the same period was HKD 227,248,000, up 29% from HKD 175,904,000 year-on-year[4] - The net profit for the year was HKD 34,069,000, a decrease of 40% from HKD 56,703,000 in the previous year[4] - Basic and diluted earnings per share were both HKD 0.146, down from HKD 0.243 in the previous year[4] - Total revenue for the year 2024 reached HKD 612,967,000, an increase of 9.9% from HKD 557,221,000 in 2023[31] - The pre-tax profit for 2024 is HKD 50,255,000, compared to HKD 72,727,000 in 2023, reflecting a decrease of approximately 30.9%[43] - The group’s net profit for the reporting period was approximately HKD 34.1 million, a significant decrease of about 39.9% compared to HKD 56.7 million in the same period of 2023[83] Revenue Segmentation - Total revenue for the year ending December 31, 2024, reached HKD 612,967,000, with external customer revenue of HKD 612,967,000 and inter-segment sales of HKD 28,180,000[20] - The automotive beauty and maintenance products segment generated revenue of HKD 484,799,000, while the personal care products segment contributed HKD 128,168,000[20] - Revenue from mainland China was HKD 502,514,000, accounting for 82% of total revenue, up from HKD 452,836,000 in 2023[32] - The automotive beauty and maintenance products segment generated revenue of approximately HKD 484.8 million, an increase of about 8.8% from HKD 445.5 million in the previous year, driven by effective e-commerce sales strategies[74] - The personal care products segment reported revenue of approximately HKD 128.2 million, a substantial increase of about 14.7% from HKD 111.7 million in the previous year, primarily due to increased demand from a major overseas customer[75] Expenses and Costs - The company incurred research and development expenses of HKD 24,313,000, which is an increase of 14% compared to HKD 21,214,000 in the prior year[4] - Selling and distribution expenses rose to approximately HKD 90.0 million, a dramatic increase of about 161.8% from HKD 34.4 million in the previous year, primarily due to higher advertising and promotional expenses[79] - Administrative expenses were approximately HKD 58.0 million, an increase of about 12.2% from HKD 51.7 million in the previous year, driven by higher employee salaries and depreciation expenses[80] - The company's cost of sales was approximately HKD 385.7 million, accounting for about 62.9% of revenue, a decrease from 68.4% in the previous year, despite a 1.2% increase in costs[76] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 363,323,000, slightly up from HKD 362,843,000 in the previous year[5] - The company reported a significant increase in trade receivables, which rose to HKD 46,791,000 from HKD 35,602,000 year-on-year, indicating improved sales performance[5] - The company’s total equity increased to HKD 325,480,000 from HKD 307,928,000, reflecting a stronger financial position[6] - Total liabilities were reported at HKD 151,050,000, with segment liabilities of HKD 98,512,000 for automotive products and HKD 45,333,000 for personal care products[22] - The total bank borrowings as of December 31, 2024, were approximately HKD 25.3 million, a decrease from HKD 35.3 million in 2023[87] Cash Flow and Financial Management - The company’s cash and cash equivalents stood at HKD 105,610,000, a decrease from HKD 107,730,000 in the previous year[5] - The total financial costs decreased to HKD 1,862,000 from HKD 2,755,000 in 2023, indicating improved financial management[39] - The actual tax expense for 2024 is HKD 16,186,000, which is 32.2% of the pre-tax profit, compared to HKD 16,024,000 or 22.0% in 2023[43] - The debt-to-equity ratio was approximately 4.0% as of December 31, 2024, down from 8.0% in 2023[88] Dividends and Shareholder Returns - The proposed final dividend for 2024 is HKD 2.19 per share, down from HKD 3.64 per share in 2023, totaling HKD 5,123,000 compared to HKD 8,515,000 in the previous year[44] - The total proposed dividend for 2024 is HKD 8,445,000, down from HKD 12,538,000 in 2023, reflecting a decrease of approximately 32.4%[44] - The company has proposed a final dividend of HKD 0.0219 per share for the year ending December 31, 2024, compared to HKD 0.0364 per share for the previous year[107] Corporate Governance - The company has established an Audit Committee to review financial statements and oversee risk management, consisting of three independent non-executive directors[100] - The company has adopted corporate governance practices in compliance with the Hong Kong Stock Exchange's listing rules, with a dual role of Chairman and CEO held by the same individual[99] - The Remuneration Committee, established on May 27, 2019, is responsible for recommending remuneration policies for directors and senior management[102] - The Nomination Committee, also established on May 27, 2019, evaluates the independence of non-executive directors and oversees succession planning for executive directors[104]
保宝龙科技(01861) - 2024 - 年度业绩