Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 833,909,000, representing a 20.6% increase from HKD 691,143,000 in 2023[2] - Gross profit for the same period was HKD 206,935,000, up from HKD 179,673,000, indicating a gross margin improvement[2] - The net profit attributable to the owners of the company for 2024 was HKD 20,189,000, compared to a loss of HKD 13,581,000 in 2023, marking a significant turnaround[3] - Earnings per share for 2024 was HKD 3.1, compared to a loss per share of HKD 2.1 in the previous year[3] - The company reported a total comprehensive income of HKD 17,083,000 for 2024, compared to a loss of HKD 15,470,000 in 2023[3] - The group reported a basic profit attributable to shareholders of approximately HKD 21,835,000 for the year ended December 31, 2024, compared to a loss of HKD 14,829,000 in 2023[41] - Other income turned positive at HKD 2.1 million, compared to a loss of HKD 11.9 million in 2023, mainly due to reduced investment property fair value losses[57] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 608,211,000, down from HKD 630,132,000 in 2023[7] - Current liabilities decreased to HKD 325,541,000 from HKD 339,841,000 in the previous year, reflecting improved liquidity management[7] - The total liabilities for the company as of December 31, 2024, were HKD 195,263 thousand, down from HKD 199,716 thousand in 2023[25] - Trade receivables increased to HKD 201,853,000 in 2024 from HKD 137,786,000 in 2023, with a provision for impairment of HKD 3,684,000[45] - The group’s trade payables decreased to HKD 39,918,000 in 2024 from HKD 50,011,000 in 2023, indicating improved cash flow management[48] Revenue Segmentation - Sales of kitchenware and household products contributed HKD 786,580,000 to the total revenue in 2024, up from HKD 642,212,000 in 2023, representing a growth of 22.4%[30] - The segment performance for kitchen and household goods sales showed a profit of HKD 33,139 thousand in 2024, compared to a loss of HKD 3,925 thousand in 2023[24] - The company has two operating segments: kitchen and household goods sales, and raw materials trading, with no inter-segment sales reported[23] Cost Management - Distribution expenses slightly decreased to HKD 41,192,000 from HKD 42,986,000, indicating cost control efforts[2] - The group’s administrative expenses for the year ended December 31, 2024, were approximately HKD 52,153,000, compared to HKD 49,195,000 in 2023[36] - The company reported a significant reduction in research expenses, which fell to HKD 1,048,000 in 2024 from HKD 5,058,000 in 2023, a decrease of 79.3%[32] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[2] - The company plans to launch several new products in the beverage and storage categories in 2025, integrating IoT technology to meet changing consumer demands[63] - The company aims to strengthen relationships with existing customers and actively explore new markets, particularly in the Asia-Pacific region[63] - The outlook for 2025 anticipates a cautious financial strategy to enhance operational efficiency amid global economic challenges[62] Corporate Governance - The company maintains a high level of corporate governance, with a board consisting of two executive directors and four independent non-executive directors[78] - The board believes that having one person serve as both chairman and CEO ensures consistent leadership and effective strategic planning[79] - An audit committee has been established to assist the board in reviewing financial reporting processes, internal controls, and risk management systems[81] Employee and Operational Metrics - The group's employee count as of December 31, 2024, is approximately 152, a slight decrease from 154 in 2023, with total employee costs amounting to approximately HKD 60.8 million, up from HKD 57.8 million in 2023[66] - The group’s employee benefits expenses for distribution were approximately HKD 8,689,000 in 2024, slightly up from HKD 8,635,000 in 2023[36] Financial Position and Commitments - The group's capital commitments as of December 31, 2024, are approximately HKD 2.0 million, significantly reduced from HKD 16.0 million in 2023, indicating a shift in investment strategy[74] - The group has no significant contingent liabilities as of December 31, 2024, maintaining a stable financial position[73]
科劲国际(06822) - 2024 - 年度业绩