Financial Performance - Revenue for the year ended December 31, 2024, was HKD 4,183,746, a slight decrease from HKD 4,215,667 in 2023, representing a decline of approximately 0.76%[3] - Profit attributable to equity shareholders was HKD 156,015, down from HKD 171,232 in 2023, reflecting a decrease of about 8.9%[4] - Basic and diluted earnings per share were both HKD 0.57, compared to HKD 0.63 in the previous year, indicating a decline of approximately 9.5%[3] - The total comprehensive income for the year was HKD 120,336, a decrease from HKD 184,550 in 2023, representing a decline of about 34.8%[5] - The group’s annual profit for 2024 was HKD 162,939 thousand, compared to HKD 180,173 thousand in 2023, reflecting a decrease of about 9.5%[18] - Total revenue for 2024 was HKD 4,183,746,000, a slight decrease from HKD 4,215,667,000 in 2023[22] - Revenue from China was HKD 1,193,708,000 in 2024, down from HKD 1,358,669,000 in 2023, representing a decrease of approximately 12.1%[22] - The overall gross profit was HKD 1.715 billion in 2024, down from HKD 1.783 billion in 2023, resulting in a gross margin of 41.0%[51] Dividends - The company declared a final dividend of HKD 0.17 per share[4] - The company declared a proposed final dividend of HKD 0.17 per share for 2024, down from HKD 0.19 per share in 2023[32] - The total dividend for the year will amount to HKD 0.23 per share, compared to HKD 0.25 in 2023[80] - The company declared an interim dividend of HKD 0.06 per share for 2024, consistent with 2023[79] Assets and Liabilities - Non-current assets decreased to HKD 1,191,504 from HKD 1,272,954 in 2023, a reduction of approximately 6.4%[6] - Current assets decreased to HKD 1,784,754 from HKD 1,843,724 in 2023, reflecting a decline of about 3.2%[6] - Total liabilities decreased to HKD 743,355 from HKD 804,497 in 2023, indicating a reduction of approximately 7.6%[6] - The company's net assets increased to HKD 1,255,923 from HKD 1,205,058 in 2023, representing an increase of about 4.2%[6] - The group’s total assets decreased to HKD 2,976,258 thousand in 2024 from HKD 3,116,678 thousand in 2023, a decline of about 4.5%[20] - Total liabilities for the group decreased to HKD 1,720,335 thousand in 2024 from HKD 1,911,620 thousand in 2023, a reduction of approximately 10.0%[20] Segment Performance - The group reported segment revenue for the Apparel division of HKD 2,350,053 thousand in 2024, up from HKD 2,036,739 thousand in 2023, representing an increase of approximately 15.4%[18] - The Brand business segment revenue decreased to HKD 2,025,773 thousand in 2024 from HKD 2,283,328 thousand in 2023, a decline of about 11.3%[18] - The group’s EBITDA for the Apparel segment increased to HKD 317,317 thousand in 2024 from HKD 279,595 thousand in 2023, an increase of around 13.5%[18] - The Brand segment reported an EBITDA of HKD 224,547 thousand in 2024, down from HKD 303,904 thousand in 2023, a decrease of approximately 26.1%[18] Impairments and Losses - The company reported a net loss of HKD 24,543,000 from impairment of property, plant, and equipment in 2024, compared to a loss of HKD 6,176,000 in 2023[28] - The company recorded a net impairment loss of HKD 25 million on property, plant, and equipment, a significant increase from HKD 6 million in 2023[52] Cash Flow and Financing - Cash flow from operations decreased by 31% to HKD 410 million in 2024[47] - Financing income increased to HKD 3,853,000 in 2024 from HKD 3,516,000 in 2023, reflecting a growth of approximately 9.6%[30] - The total tax expense for 2024 was HKD 83,717,000, compared to HKD 67,244,000 in 2023, indicating an increase of about 24.6%[30] Strategic Initiatives - The company plans to enhance its e-commerce performance by taking over its online platform from third-party partners starting May 2024[42] - The company plans to expand its production capacity in Vietnam in 2025 to meet rising demand[46] - The company is reviewing its franchise brand portfolio and may adjust its business strategy for Reebok[45] - The company aims to enhance brand awareness and expand customer base through marketing strategies and collaborations, focusing on existing wholesale markets and further expanding distribution networks in Europe and overseas[61] Risk Management - The group has established a corporate risk management mechanism to identify, assess, and manage risks, including environmental, social, and governance risks[63] - Key risks include macroeconomic environment, rising costs, and changes in business partner strategies, which could impact operations and financial stability[64] - The group actively monitors local government policies and regulatory changes to mitigate risks associated with legal and tax regulations[66] Governance and Compliance - The company has adhered to the principles of the Corporate Governance Code, with a noted deviation regarding the roles of the Chairman and CEO[75] - The company’s financial statements for the year ending December 31, 2024, have been reviewed by the audit committee alongside the management[74] - The group emphasizes a culture of attracting, motivating, and retaining talent, offering competitive compensation and benefits[70] Employee and Social Responsibility - The group employed approximately 6,530 staff as of December 31, 2024, an increase from 6,370 in 2023, with competitive compensation and benefits provided[60] - The company has been participating in various charitable activities, including donations to the Salvation Army, reflecting its commitment to social responsibility[72]
联亚集团(00458) - 2024 - 年度业绩