Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 5,061.3 million, an increase of about 20.5% compared to HKD 4,200.7 million for the year ended December 31, 2023[3]. - The gross profit margin for the year ended December 31, 2024, was approximately 26.8%, an increase of about 2.9 percentage points from the previous year[3]. - The net profit margin for the year ended December 31, 2024, was approximately 11.7%, an increase of about 3.4 percentage points compared to the previous year[3]. - The group's profit for the year ended December 31, 2024, was approximately HKD 594.1 million, an increase of about 70.0% from HKD 349.4 million for the year ended December 31, 2023[3]. - The basic earnings per share for the year ended December 31, 2024, was approximately HKD 58.48, an increase of about 75.3% from HKD 33.36 for the previous year[3]. - The group's EBITDA for the year ended December 31, 2024, was approximately HKD 1,188.2 million, an increase of about 34.5% from HKD 883.6 million for the year ended December 31, 2023[3]. - The total comprehensive income for the year ended December 31, 2024, was approximately HKD 475.7 million, compared to HKD 276.1 million for the previous year[6]. - The total revenue from external customers for the year ended December 31, 2024, was HKD 5,061,290, an increase from HKD 4,200,707 in 2023, representing a growth of approximately 20.5%[22]. - The gross profit for the fiscal year ending December 31, 2024, was approximately HKD 1,356.8 million, an increase of about 35.2% compared to the same period in 2023[50]. - The net profit attributable to shareholders for the fiscal year ending December 31, 2024, was approximately HKD 608.1 million, an increase of about 75.3% compared to the same period in 2023[52]. Dividends - The proposed final dividend per ordinary share for the year ended December 31, 2024, is HKD 15.91, compared to HKD 11.38 for the previous year[3]. - The company reported a mid-year dividend of HKD 0.1333 per share for 2024, compared to HKD 0.053 per share in 2023, reflecting an increase of approximately 151%[34]. - The total dividend for the year 2023 was HKD 0.1138 per share, up from HKD 0.0422 per share in 2022, representing a growth of about 169%[35]. - The final dividend declared for the year ending December 31, 2024, is HKD 0.1591 per share, compared to HKD 0.1138 per share for the previous year[102]. Assets and Liabilities - The company's non-current assets amounted to HKD 3,150,713,000 in 2024, compared to HKD 3,102,586,000 in 2023, reflecting a slight increase of 1.5%[8]. - Current assets increased to HKD 3,362,056,000 in 2024 from HKD 2,880,810,000 in 2023, marking a growth of approximately 16.7%[8]. - The net current asset value improved significantly to HKD 1,494,990,000 in 2024, up from HKD 778,309,000 in 2023, indicating a growth of about 92%[8]. - Non-current liabilities rose to HKD 1,111,424,000 in 2024, compared to HKD 565,354,000 in 2023, representing an increase of approximately 96.7%[10]. - The company's equity increased to HKD 3,534,279,000 in 2024 from HKD 3,315,541,000 in 2023, reflecting a growth of about 6.6%[10]. - The group's net asset to liability ratio as of December 31, 2024, was approximately 13.5%, down from 15.0% as of December 31, 2023[3]. Revenue Segments - Revenue from the sale of elastic fabrics, lace, and elastic bands was HKD 4,075,614,000 and HKD 985,676,000 respectively in 2024, showing strong performance in these segments[19]. - The revenue from elastic fabric materials reached approximately HKD 4,014.5 million in 2024, accounting for 79.3% of total revenue, with a year-on-year increase of 21.6%[57]. - The sportswear and apparel segment achieved a record revenue of approximately HKD 2,805.7 million, up about HKD 625.7 million or 28.7% from HKD 2,180.0 million in 2023[58]. - The lingerie elastic fabric material sales reached approximately HKD 1,208.8 million, an increase of about HKD 87.4 million or 7.8% compared to the previous year[60]. Expenses and Costs - The total cost of inventory recognized as an expense was HKD 3,704,524 in 2024, compared to HKD 3,197,081 in 2023, indicating an increase of about 15.9%[27]. - The financing costs for the year ended December 31, 2024, were HKD 87,653, down from HKD 116,224 in 2023, indicating a reduction of approximately 24.5%[22]. - The total income tax expense for 2024 was HKD 80,382, significantly higher than HKD 35,924 in 2023, representing an increase of about 123.5%[28]. - The depreciation of property, plant, and equipment was HKD 372,849 in 2024, compared to HKD 327,734 in 2023, reflecting an increase of approximately 13.8%[27]. - Sales and distribution expenses accounted for approximately 4.3% and 4.5% of total revenue for the years ended December 31, 2023, and December 31, 2024, respectively, indicating stable expense ratios[68]. - Administrative expenses as a percentage of total revenue decreased from approximately 7.2% for the year ended December 31, 2023, to 6.7% for the year ended December 31, 2024, primarily due to economies of scale achieved[70]. Research and Development - The group recorded a significant increase in research and development expenses, amounting to HKD 106.7 million for the year ended December 31, 2024, compared to HKD 85.3 million for the previous year[4]. - Research and development expenses remained stable at approximately 2.0% and 2.1% of total revenue for the years ended December 31, 2023, and December 31, 2024, respectively[71]. - The company is committed to enhancing R&D capabilities to meet the growing demand for innovative sportswear and apparel products[95]. Market Expansion and Strategy - The company plans to continue expanding its market presence in China, Hong Kong, Vietnam, and Sri Lanka, focusing on the manufacturing and sale of elastic fabrics and related products[17]. - The company plans to expand its operations in Vietnam, leveraging nearly ten years of local experience to implement a new project successfully[45]. - The company has acquired land use rights in Vietnam to initiate a new plan for establishing an advanced production base in the region[54]. - The company has observed significant business potential in Vietnam, leveraging existing knowledge and experience in the region[97]. Corporate Governance and Sustainability - The company is committed to maintaining high standards of corporate governance, which is crucial for sustainable development and growth[105]. - The company has achieved ISO 9001 certification, ensuring high standards in product quality and service[90]. - The company has received Bluesign® Standard certification, recognized as one of the strictest environmental standards for textile products[92]. - The company successfully obtained a sustainability-linked loan from a major bank, confirming the relevance and challenge of its sustainability performance targets[92]. Economic Outlook - The global economic growth for 2024 is projected at 3.2%, with the US GDP expected to grow by 2.8% driven by strong consumer spending[47]. - China's GDP growth for 2024 is reported at 5.0%, supported by a series of stimulus policies aimed at boosting consumer and investment confidence[47]. - Sri Lanka's textile and apparel export value is projected to be approximately $4.8 billion in 2024, representing a 5.0% increase from 2023[55]. - The company remains cautiously optimistic about the market outlook despite ongoing economic policy risks and geopolitical tensions[94]. Workforce and Employment - The group employed a total of 11,037 full-time employees as of December 31, 2024, an increase from 9,604 employees as of December 31, 2023, showing growth in workforce[87]. - The company has maintained its salary policy without significant changes, continuing to provide competitive compensation and regular training for employees[88].
超盈国际控股(02111) - 2024 - 年度业绩