Financial Performance - Revenue for the fiscal year 2024 reached HKD 18,541 million, an increase of 11% compared to HKD 16,750 million in fiscal year 2023[2] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to HKD 2,963 million, reflecting a 21% growth from HKD 2,450 million in the previous year[2] - Profit before tax increased by 38% to HKD 1,758 million, up from HKD 1,277 million in fiscal year 2023[2] - Basic earnings per share (EPS) improved by 36% to HKD 0.432, compared to HKD 0.318 in the prior year[2] - The company proposed a total dividend of HKD 0.620 per share, a significant increase of 288% from HKD 0.160 per share in the previous year[2] - Total comprehensive income for the year amounted to HKD 1,081 million, compared to HKD 666 million in the previous year, marking a substantial increase[5] - The company reported a pre-tax profit of HKD 1,735,367,000 for the year, compared to HKD 1,192,926,000 in the previous year, an increase of 45.6%[14] - Basic and diluted earnings per share rose to HKD 1,326,096,000 in 2024 from HKD 907,402,000 in 2023, marking an increase of approximately 46.2%[27] - The group reported a significant increase in pre-tax profit by 38% to HKD 1,758.3 million[36] Financial Position - Net debt ratio decreased to 9% from 16% year-on-year, indicating improved financial stability[2] - Total assets less current liabilities were HKD 17,346,712,000 in 2024, down from HKD 17,967,573,000 in 2023, a decrease of 3.4%[9] - The net asset value increased to HKD 15,369,889,000 in 2024 from HKD 14,975,237,000 in 2023, representing a growth of 2.6%[9] - The total equity attributable to the company’s shareholders increased to HKD 15,342,427,000 in 2024 from HKD 14,951,235,000 in 2023, reflecting a growth of 2.6%[9] - The group maintained a healthy financial position with a net debt ratio of 9%, down from 16%[36] - The group plans to distribute a final dividend of HKD 20.0 cents per share and a special final dividend of HKD 30.0 cents per share, pending shareholder approval[34] Revenue Breakdown - The sales of copper-clad laminates and upstream materials amounted to HKD 16,820,701,000, up from HKD 15,227,815,000, reflecting a growth of 10.5%[12] - Revenue from China increased to HKD 17,149,637,000 in 2024 from HKD 15,410,846,000 in 2023, representing a growth of approximately 11.3%[17] - The company’s total revenue from other Asian countries was HKD 1,151,361,000 in 2024, up from HKD 1,073,565,000 in 2023, reflecting a growth of approximately 7.2%[17] - The company’s total revenue from the Americas decreased slightly to HKD 120,391,000 in 2024 from HKD 127,474,000 in 2023, a decline of about 5.4%[17] Segment Performance - The segment performance for copper-clad laminates showed a profit of HKD 2,088,474,000, compared to HKD 1,516,358,000 in the previous year, indicating a growth of 37.7%[14] - The revenue from the copper-clad laminate segment increased by 11% to HKD 18.3045 billion, driven by recovering demand in traditional electronics and significant growth in air conditioning and optoelectronics[37] - The real estate segment's revenue decreased by 44% to HKD 12.67 million, with EBITDA declining by 34% to HKD 3.8 million[38] Costs and Expenses - The company’s financing costs decreased to HKD 255,172,000 in 2024 from HKD 273,694,000 in 2023, a reduction of 6.8%[14] - Income tax expenses increased to HKD 405,238,000 in 2024 from HKD 284,282,000 in 2023, reflecting a rise of about 42.5%[20] - The company’s depreciation expense for property, plant, and equipment was approximately HKD 933,200,000 in 2024, compared to HKD 886,100,000 in 2023, an increase of about 5.3%[19] Operational Efficiency - The inventory turnover period improved to 63 days from 71 days year-on-year, while trade receivables turnover decreased to 82 days from 86 days[40] - Trade receivables net amount reached HKD 3,617,182 thousand, up from HKD 3,101,157 thousand in the previous year[28] - Trade payables decreased slightly to HKD 775,711 thousand from HKD 792,963 thousand[30] - The average credit period for trade customers remains at 120 days, consistent with the previous year[29] Investments and Future Plans - The group invested approximately HKD 700 million in new production facilities during the review period[39] - The group has invested approximately HKD 600 million in solar photovoltaic power generation projects, expected to produce 130 million kWh of green electricity annually, saving 36,000 tons of standard coal and reducing CO2 emissions by 78,000 tons[41] - The group has invested about HKD 120 million in thermal energy recovery equipment, resulting in a reduction of 45,000 tons of CO2 emissions in 2024, equivalent to saving 18,000 tons of standard coal[41] - The group plans to increase copper foil production capacity in Thailand to 1 million sheets per month by the end of 2024, with further expansions to reach a total capacity of 1.8 million sheets per month[41] - The low dielectric fiberglass yarn project in Qingyuan, Guangdong, with an annual production capacity of 500 tons, is set to commence in the second half of 2025 to meet market demand[41] Sustainability and ESG Commitment - The group is committed to sustainable development goals in environmental, social, and governance (ESG) aspects, reflecting its dedication to long-term benefits[41] - The group continues to receive increasing customer recognition due to stable product quality and timely delivery, aiming to create greater returns for shareholders[41] Corporate Governance - The audit committee has reviewed the accounting policies and practices adopted by the group, including discussions on the financial statements for the year ending December 31, 2024[49] - The company has agreed with Deloitte to publish the consolidated financial statements for the year ending December 31, 2024, which will be approved by the board on March 24, 2025[50] - The preliminary announcement of the consolidated financial statements will reflect the amounts presented in the audited financial statements[50]
建滔积层板(01888) - 2024 - 年度业绩