Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 15,570,615, a decrease of 24.0% compared to HKD 20,523,798 in 2023[3]. - Gross profit for the year was HKD 3,557,957, down 52.9% from HKD 7,545,301 in the previous year[3]. - Operating profit decreased to HKD 5,221,292, a decline of 19.4% from HKD 6,473,918 in 2023[3]. - Net profit for the year was HKD 3,687,004, representing an increase of 27.0% compared to HKD 2,904,908 in 2023[4]. - Basic earnings per share rose to HKD 1.20, up from HKD 0.80 in the previous year, reflecting a 50.0% increase[4]. - The company reported a total comprehensive income of HKD 1,692,294 for the year, compared to HKD 1,458,242 in 2023, indicating a growth of 16.0%[6]. - The company reported a net profit of HKD 3,687,004,000 for the year ended December 31, 2024[18]. - The company’s net profit attributable to ordinary shareholders for 2024 was HKD 2,872,448,000, a 51% increase from HKD 1,901,643,000 in 2023[27]. - The company incurred a total tax expense of HKD 2,289,221,000, down from HKD 1,428,061,000 in the previous year, a decrease of approximately 37.7%[24]. Assets and Liabilities - Total assets increased to HKD 135,997,560, up from HKD 130,494,541 in 2023, marking a growth of 4.0%[8]. - The company's non-current liabilities rose significantly to HKD 45,995,887, compared to HKD 33,509,807 in 2023, an increase of 37.4%[8]. - As of December 31, 2024, the company's current liabilities exceeded current assets by approximately HKD 11,732,398,000[12]. - Total liabilities rose by 8% to HKD 81,475 million in 2024 compared to HKD 75,519 million in 2023[134]. - Shareholders' equity decreased by 1% to HKD 54,523 million in 2024 from HKD 54,976 million in 2023[134]. - Total borrowings increased by 9% to HKD 60,449 million in 2024 from HKD 55,339 million in 2023[134]. - The debt-to-equity ratio increased to 111% in 2024 from 101% in 2023[134]. Revenue Breakdown - Total revenue for the year ended December 31, 2024, was HKD 15,570,615,000, with significant contributions from toll roads and environmental services[18]. - Revenue from customer contracts recognized at a point in time was HKD 11,201,968,000[18]. - Revenue from toll roads and environmental services was HKD 10,029,211,000, down from HKD 10,324,981,000 in the previous year, a decrease of about 2.9%[20]. - Logistics business revenue decreased significantly to HKD 4,176,385,000 from HKD 8,841,936,000, reflecting a decline of approximately 52.8%[20]. - The overall revenue for the logistics business was approximately HKD 1.84 billion, remaining relatively stable compared to the previous year, while the attributable profit to shareholders decreased by 3% to about HKD 516.12 million[81]. - The logistics park business generated revenue of approximately HKD 1.50 billion, with a slight decrease of 1% year-on-year, while attributable profit increased by 3% to about HKD 538 million due to the completion of two logistics port projects[82]. - The logistics service business achieved revenue of approximately HKD 333 million, representing a 4% increase year-on-year, but recorded an attributable loss of approximately HKD 21.43 million due to ongoing structural adjustments[83]. Capital Expenditures and Investments - Capital expenditures for the year included investments totaling HKD 9,780,296,000, primarily in property, plant, and equipment[18]. - The company's capital expenditure for the year was approximately RMB 8.3 billion (equivalent to HKD 8.8 billion), with projected capital expenditure for 2025 estimated at RMB 13.1 billion (equivalent to HKD 13.9 billion)[138]. - The company has secured land rights totaling approximately 8.36 million square meters across 42 cities, managing 46 logistics port projects with a total operational area of about 5.79 million square meters[39]. - The company successfully acquired approximately 118,000 square meters of land in Beijing and 96,000 square meters in Guangdong, achieving a strategic layout in key regions[39]. - The company is actively developing a logistics real estate fund system, primarily focusing on public REITs, with plans to establish a new logistics warehousing Pre-REITs private fund[66]. Shareholder Returns and Dividends - The proposed final dividend for 2024 is HKD 0.598 per share, a 50% increase from HKD 0.40 in 2023[30]. - The board proposed a final dividend of HKD 0.598 per share, a 50% increase from HKD 0.40 in 2023, with a total dividend amounting to HKD 1.441 billion, up 51% year-on-year[43]. - The company is committed to maintaining a stable dividend policy while enhancing operational efficiency and shareholder returns[133]. Operational Highlights - The company faced significant operational pressure due to a complex global economic environment, yet maintained steady growth through a diversified business model[36]. - The company plans to focus on high-quality assets in core regions such as the Guangdong-Hong Kong-Macao Greater Bay Area[37]. - The company is focusing on optimizing its "investment, construction, and management" business model, with plans to expand the Huaxia Shen International REIT based on market conditions[39]. - The company is focusing on technological innovation and digital transformation to enhance operational efficiency and service levels in logistics and warehousing services[46]. - The company is integrating ESG principles into its business operations and development plans, promoting sustainable practices such as green building certifications and solar power installations[46]. Strategic Developments - The company has established 14 logistics port projects in the Greater Bay Area, with 9 projects already in operation and 5 under construction, covering a total land area of approximately 2.27 million square meters[48]. - The Shenzhen International Smart Logistics Port (Shenzhen Li Guang) has an overall occupancy rate of approximately 84% as of December 31, 2024, with a temperature-controlled warehouse occupancy rate reaching 97%[49]. - The company is exploring new operational models such as "leasing + value-added services" to enhance revenue from existing land[70]. - The company has successfully issued a RMB 4 billion three-year medium-term note at a record low interest rate of 2.21%[42]. Audit and Compliance - The company's audited financial statements for the year ended December 31, 2024, have been reviewed by the audit committee and confirmed by Deloitte[153]. - The comprehensive financial statements include the consolidated balance sheet, consolidated income statement, and consolidated statement of comprehensive income for the year ended December 31, 2024[153]. - The audit work performed by Deloitte does not constitute assurance services, and no opinion or verification conclusion is provided[153].
深圳国际(00152) - 2024 - 年度业绩