Financial Performance - Total revenue for the fiscal year 2024 reached HKD 17,840,169,000, representing a 14.4% increase from HKD 15,588,143,000 in the previous year[3] - Gross profit amounted to HKD 1,386,233,000, up from HKD 1,322,293,000, indicating a growth of 4.8%[3] - Net profit attributable to shareholders was HKD 262,799,000, a decrease of 14.9% compared to HKD 302,085,000 in the prior year[3] - EBITDA for the year was HKD 2,057,669,000, reflecting a decline of 3.9% from HKD 1,976,817,000[3] - Earnings per share increased to HKD 9.56, a rise of 15.0% from HKD 8.31[3] - The total comprehensive income for the year was HKD 246,565,000, up from HKD 160,436,000[4] - The company reported a total revenue of 302,085 thousand HKD for the current year, compared to 262,799 thousand HKD in the previous year, representing a growth of approximately 14.9%[5] - The net profit attributable to shareholders was 160,436 thousand HKD, a significant increase from 246,565 thousand HKD in the previous year, indicating a decrease of about 34.8%[5] - Earnings per share (EPS) for the current year was 11 cents, compared to 9.56 cents in the previous year, reflecting an increase of approximately 15.1%[5] - The company reported a net profit for the fiscal year 2024 reached HKD 302,085,000, an increase from HKD 262,799,000 in fiscal year 2023, representing a growth of approximately 14.1%[33] - Basic earnings per share for fiscal year 2024 is reported at HKD 11, with the weighted average number of shares being 3,161,105,000[34] - The group’s net profit attributable to shareholders increased by approximately 14.9% or HKD 0.039 billion to about HKD 3.02 billion, driven by increased revenue and other income[58] Income and Expenses - The company reported other income of HKD 223,234,000, compared to HKD 109,537,000 in the previous year[4] - Other income increased to HKD 223,234,000 in 2024 from HKD 109,537,000 in 2023, marking a growth of about 103.5%[29] - Government subsidies amounted to HKD 151,853,000 in 2024, up from HKD 52,044,000 in 2023, indicating a significant increase of approximately 191.5%[29] - Interest income rose slightly to HKD 23,734,000 in 2024 from HKD 21,556,000 in 2023, reflecting an increase of about 10.1%[29] - The financial expenses for the year amounted to HKD 389,443, which impacted the overall profitability of the group[23] - The group’s total operating expenses, including unallocated expenses, were HKD 24,975, which affected the net profit margins[23] - The impairment loss on goodwill for the year was HKD 53,424, indicating challenges in maintaining asset valuations[23] - The group recognized a share of profits from an associated company amounting to HKD 46,802, contributing positively to the overall financial results[23] Assets and Liabilities - The total non-current assets reached 15,708,771 thousand HKD, up from 15,604,178 thousand HKD, showing a growth of about 0.7%[6] - Current assets, including cash and cash equivalents, amounted to 8,796,863 thousand HKD, a slight decrease from 9,145,033 thousand HKD, indicating a decline of approximately 3.8%[6] - The company’s inventory increased to 3,206,930 thousand HKD from 2,667,757 thousand HKD, representing a growth of about 20.2%[6] - Accounts receivable decreased to 3,576,849 thousand HKD from 3,721,412 thousand HKD, indicating a decline of approximately 3.9%[6] - The company reported a total of 12,928,174 thousand HKD in property, plant, and equipment, an increase from 11,842,258 thousand HKD, reflecting a growth of about 9.2%[6] - The company’s total liabilities decreased to 15,708,771 thousand HKD from 15,604,178 thousand HKD, indicating a reduction of about 0.7%[6] - Total current liabilities decreased from HKD 14,811,804 thousand in 2022 to HKD 12,929,914 thousand in 2023, representing a reduction of approximately 12.7%[7] - The company's total equity decreased from HKD 9,352,556 thousand in 2022 to HKD 9,820,763 thousand in 2023, reflecting a decrease of approximately 4.8%[7] - The company's bank and other borrowings increased from HKD 6,275,862 thousand in 2022 to HKD 5,104,469 thousand in 2023, which is a rise of approximately 23.0%[7] - As of December 31, 2024, the company's total assets increased by approximately HKD 244 million, while liabilities increased by approximately HKD 712 million[63] - As of December 31, 2024, the company's outstanding lease liabilities and bank borrowings amounted to approximately HKD 5.164 billion, a decrease of about 2.49% or HKD 132 million from the previous year[64] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.05 per share, consistent with the previous year[3] - The company declared an interim dividend of HKD 0.05 per share for the first half of fiscal year 2024, consistent with the interim dividend of HKD 0.05 per share in fiscal year 2023[33] - The proposed final dividend is HKD 0.05 per share for the year ending December 31, 2024, consistent with the previous year[75] - The total dividend payout ratio for the year is approximately 105%[76] Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and invest in new product development to drive future growth[3] - The company is exploring strategic acquisitions to enhance market presence and product offerings in the upcoming fiscal year[25] - The management maintains a positive outlook for 2025, expecting stable growth despite uncertainties in the global economic environment[40] - The group expects moderate growth in the overall market performance for 2025, with continued focus on technology development in non-mobile sectors such as automotive, industrial, and medical[47] Compliance and Governance - The audit committee has reviewed and confirmed that the annual performance for the year ending December 31, 2024, complies with applicable accounting standards and regulations[83] - The company has established a remuneration committee and a nomination committee, both chaired by an independent non-executive director[84] - The company has maintained compliance with all applicable corporate governance codes as of December 31, 2024, with some deviations noted[85] - The annual general meeting is scheduled for May 12, 2025, at 10:00 AM[79] Business Segments - The group operates in two business segments: liquid crystal display products and electronic consumer products, focusing on manufacturing and distribution in both categories[20] - The group’s liquid crystal display business accounted for approximately 70% of total revenue in 2024, down from 86% in 2023, while other businesses accounted for 30% in 2024, up from 14% in 2023[45] Accounting Standards - The company has adopted new accounting standards which did not have a significant impact on its financial position and performance[10] - The group has applied the new accounting standards regarding the classification of liabilities as current or non-current, with no significant impact on the consolidated financial statements for the current year[15] - The group has also implemented the new accounting standards related to supplier financing arrangements, enhancing disclosures regarding the impact of such arrangements on liabilities and cash flows[16] - The application of the 2022 amendments clarifies that liabilities must be classified based on existing rights at the reporting date, regardless of management's intentions to settle within 12 months[14] - The group must disclose information regarding any covenants related to liabilities that may affect their classification as current or non-current, ensuring transparency for financial statement users[14] - The group has provided additional disclosure in the notes to the consolidated financial statements regarding the impact of the new accounting standards[18] - The 2020 amendments provide guidance on assessing the classification of liabilities, emphasizing the importance of existing rights at the reporting date[13] - The group has not been required to disclose comparative information for the first year of applying the new standards, simplifying the reporting process[17]
信利国际(00732) - 2024 - 年度业绩