Financial Performance - The group recorded revenue of approximately HKD 317.76 million for the year ended December 31, 2024, representing an increase of about 17.57% compared to HKD 270.28 million in 2023[3]. - The loss attributable to shareholders for the year was approximately HKD 6.37 million, a decrease from HKD 10.92 million in the previous year, primarily due to an increase in revenue and rental income from investment properties[3]. - The basic loss per share for the year was (1.18) HKD cents, improved from (2.26) HKD cents in 2023[6]. - Total comprehensive loss for the year amounted to HKD 8.48 million, compared to HKD 11.13 million in the previous year[6]. - The group's net asset value was HKD 286.85 million, down from HKD 294.84 million in 2023[9]. - The company reported a pre-tax loss of HKD 5,685,000 for 2024, an improvement from a loss of HKD 8,311,000 in 2023[29]. - The company's loss before tax for the year 2024 was HKD 5,685,000, an improvement from a loss of HKD 8,311,000 in 2023, representing a reduction of approximately 31%[40]. - The income tax expense for 2024 was HKD 877,000, significantly lower than HKD 2,608,000 in 2023, indicating a decrease of about 66%[40]. - Basic loss per share for 2024 was HKD 11.80, compared to HKD 22.63 in 2023, reflecting a reduction of approximately 48%[41]. Revenue and Sales - Revenue from sales of battery products for the year 2024 amounted to HKD 317,760,000, an increase of 17.5% compared to HKD 270,279,000 in 2023[22]. - The total revenue from external customers for the year ended December 31, 2024, was HKD 317,760,000, an increase of 17.5% from HKD 270,279,000 in 2023[27]. - Revenue from disposable batteries was HKD 313,460,000 in 2024, up from HKD 266,703,000 in 2023, reflecting a growth of 17.5%[22]. - Revenue from alkaline cylindrical batteries increased to HKD 180,523,000 in 2024, a rise of 24.3% compared to HKD 145,178,000 in 2023[27]. - Revenue from rechargeable batteries and related products was HKD 4,300,000 in 2024, compared to HKD 3,576,000 in 2023, reflecting a growth of 20.2%[27]. - Revenue from micro button batteries rose by about 9.37% to approximately HKD 93.75 million, compared to approximately HKD 85.72 million last year[66]. - Revenue from cylindrical batteries increased by approximately 21.39%, rising from about HKD 180.99 million to approximately HKD 219.71 million, driven by increased demand in China, the Americas, and Europe[65]. - Revenue from the Chinese market surged to HKD 98,182,000 in 2024, a significant increase of 44.1% from HKD 68,175,000 in 2023[34]. Assets and Liabilities - Non-current assets totaled HKD 490.80 million as of December 31, 2024, compared to HKD 481.19 million in 2023[8]. - Current assets increased to HKD 165.26 million from HKD 151.36 million in the previous year[8]. - Trade receivables increased to HKD 43,175,000 in 2024 from HKD 36,102,000 in 2023, marking an increase of about 19%[45]. - Inventory levels rose slightly to HKD 51,764,000 in 2024 from HKD 49,962,000 in 2023, an increase of approximately 4%[44]. - The company reported a total of HKD 202,357,000 in bank and other borrowings for 2024, a slight decrease from HKD 204,577,000 in 2023[52]. - The company has a total of HKD 129,994,000 in trade payables for 2024, an increase from HKD 96,219,000 in 2023, representing an increase of approximately 35%[50]. - The company has a total of HKD 52,231,000 in deposits, prepayments, and other receivables for 2024, up from HKD 43,182,000 in 2023, indicating an increase of about 21%[48]. Operational Strategy - The group continues to focus on manufacturing and selling various batteries for electronic devices in Hong Kong, China, and international markets[12]. - The company plans to enhance marketing efforts and collaborate with various clients for product development in the healthcare and medical facilities battery market, anticipating positive revenue prospects[61]. - The company aims to improve production efficiency and cost control through investments in production facilities and automation strategies[59]. - The company will continue to invest in production facilities and upgrade production lines to enhance capacity and efficiency by 2025[109]. - The company aims to develop new production lines focused on healthcare and medical facility-related battery products[109]. - The company will explore other energy business opportunities and potential investment opportunities to diversify revenue sources and create long-term sustainable value for shareholders[63]. Financial Management - The board has resolved not to declare any dividend for the year, consistent with the previous year[3]. - The company did not declare or pay any dividends for the years ending 2024 and 2023[42]. - The company incurred financing costs of HKD 12,023,000 in 2024, slightly down from HKD 12,956,000 in 2023[36]. - The debt-to-equity ratio increased to 0.80 from 0.79 in the previous year[86]. - The company capitalized interest expenses at rates of 5.54% and 5.60% for the years ended 2024 and 2023, respectively[36]. Investment and Growth - The group is exploring investment opportunities to benefit its operations, with a focus on expanding its fixed asset base despite a slowdown in the Hong Kong property market[94]. - The group has committed capital expenditures of approximately HKD 5.85 million for a new automated production line and auxiliary machinery for the production of disposable button batteries used in hearing aids[90]. - The group is actively negotiating with banks to ensure the renewal of loans maturing before December 31, 2025, to maintain sufficient funds for operational and financial requirements[19]. - The group has obtained a new revolving loan financing of approximately HKD 47,754,000, which will mature on December 31, 2034[19]. Compliance and Governance - The audit committee reviewed the audited consolidated financial statements, confirming compliance with applicable accounting standards and listing rules[111]. - The group has complied with all relevant laws and regulations in Hong Kong and China during the year[104]. - The company emphasizes environmental, social, and governance (ESG) aspects in its production processes to achieve higher levels of sustainability[109]. Employee and Management - The employee cost for the year is approximately HKD 42.49 million, reflecting an increase of about 0.53% compared to HKD 42.27 million in the previous year[100]. - The total remuneration for directors during the year is approximately HKD 14.39 million, up from HKD 10.61 million in the previous year[100]. - The group has 409 employees as of December 31, 2024, down from 421 employees in the previous year[100]. - The company expresses gratitude to its management, employees, shareholders, and business associates for their support during the year[119].
金力集团(03919) - 2024 - 年度业绩