Financial Performance - For the fiscal year ending December 31, 2024, total sales reached approximately RMB 28,662,938,000, representing an increase of about 14.8% compared to the previous year[3]. - The net profit after tax for the fiscal year was approximately RMB 6,240,581,000, reflecting a significant increase of about 36.9% compared to the previous year[4]. - The group's profit before tax for 2024 was RMB 7,163,778, an increase from RMB 4,995,501 in 2023, representing a growth of approximately 43.5%[29]. - The total income tax expense for 2024 was RMB 923,197, compared to RMB 438,238 in 2023, indicating a significant increase of about 110.8%[29]. - The company's gross profit margin improved by 3.8 percentage points to 28.1% compared to the previous year[51]. - Gross profit amounted to approximately RMB 8,054,897,000, representing a year-on-year increase of about 32.9%[51]. Sales Breakdown - Sales of sports products accounted for approximately 69.1% of total sales, with a year-over-year increase of about 9.8%, driven by rising demand in the mainland China and US markets[3]. - Sales of leisure products represented approximately 25.1% of total sales, showing a significant increase of about 27.1%, primarily due to increased demand in Japan and other markets[3]. - Sales of lingerie products accounted for approximately 5.0% of total sales, with a notable increase of about 34.6%, attributed to strong demand in the Japanese market[4]. - Revenue from mainland China was RMB 8,061,175 thousand in 2024, up 12.9% from RMB 7,124,052 thousand in 2023[17]. - The sales revenue from the Japanese market increased by approximately RMB 1,158,572,000 or 31.5%, reaching RMB 4,834,111,000, driven by demand for leisure and lingerie products[61]. - The sales revenue from the US market rose by approximately RMB 731,839,000 or 18.9%, totaling RMB 4,611,826,000, primarily due to increased demand for sports apparel[62]. Assets and Liabilities - Total current assets increased to RMB 38,571,785,000 from RMB 28,479,488,000 in the previous year[9]. - Total liabilities increased, with current liabilities amounting to RMB 16,826,163,000 compared to RMB 13,384,483,000 in the previous year[11]. - The company's net assets rose to RMB 35,852,895,000 from RMB 32,867,316,000 in the previous year[11]. - Accounts receivable and notes increased to RMB 6,151,331,000, up from RMB 5,023,635,000 in the previous year[41]. - The company's accounts payable increased to RMB 1,493,021,000 from RMB 1,198,212,000 in the previous year[45]. - The net borrowing amount (bank borrowings minus cash and cash equivalents) increased to approximately RMB 1,949,734,000 in 2024 from RMB 507,515,000 in 2023, reflecting an increase of about RMB 1,442,219,000[67]. Dividends - The proposed final dividend is HKD 1.28 per share, leading to a total proposed dividend of HKD 2.53 per share for the fiscal year, an increase of about 24.6% from HKD 2.03 per share in the previous year[4]. - The proposed final dividend per ordinary share for 2024 is HKD 1.28, up from HKD 1.08 in 2023, representing an increase of approximately 18.5%[32]. - The board proposed a final dividend of HKD 1.28 per share, equivalent to approximately RMB 1.19, subject to shareholder approval[87]. Operational Efficiency - The company has enhanced new product development and diversified product categories to meet market demands[52]. - The company’s production capacity utilization has returned to normal levels, with increased employee numbers and improved production efficiency[51]. - The group aims to enhance production efficiency and optimize overseas production capacity while responding to market demand changes flexibly[82]. - The group plans to focus on automation and artificial intelligence applications in production to improve efficiency and reduce costs[83]. Employee and Costs - Employee benefits expenses totaled RMB 7,921,720 in 2024, compared to RMB 6,982,131 in 2023, marking an increase of about 13.4%[24]. - The company employed approximately 102,690 employees as of December 31, 2024, compared to 92,030 in 2023, with total employee costs accounting for about 27.6% of sales[72]. - Capital expenditures for property, plant, and equipment totaled approximately RMB 1,708,473,000, with about 46% allocated for purchasing production equipment and 49% for constructing and purchasing new factory buildings[73]. Governance and Compliance - The company aims to enhance corporate governance and transparency, adopting its own corporate governance code since October 9, 2005, and has complied with all provisions of the code for the year ending December 31, 2024[91]. - The board of directors includes at least three independent non-executive directors, with one possessing appropriate professional qualifications, in compliance with listing rules[95]. - The audit committee, established on October 9, 2005, consists of four independent non-executive directors and is responsible for reviewing the group's financial practices and internal controls[106]. - The company has adopted a shareholder communication policy to ensure that shareholder views and concerns are addressed appropriately[97]. Future Outlook - The group anticipates challenges in the global economic recovery, with trade growth facing difficulties and geopolitical uncertainties affecting commodity price fluctuations[80]. - For 2025, the group expects to maintain a high overall capacity utilization rate and gradually release new capacity from overseas bases[84]. - The group emphasizes the importance of new material research and development, aiming to diversify product categories and enhance market demand[82].
申洲国际(02313) - 2024 - 年度业绩