Financial Performance - Revenue increased by 11.8% to approximately HKD 2,311.3 million for the year ended December 31, 2024, compared to HKD 2,067.3 million for the year ended December 31, 2023[2]. - Gross profit rose by 15.6% to approximately HKD 579.9 million, with a gross margin increase of 0.8 percentage points to 25.1%[2]. - Operating profit was approximately HKD 173.7 million, up from HKD 144.1 million in the previous year[2]. - Profit attributable to owners of the company was approximately HKD 143.2 million, compared to HKD 104.2 million for the year ended December 31, 2023[2]. - Basic and diluted earnings per share increased to HKD 19.8 from HKD 14.4 year-over-year[3]. - The company reported a net profit of HKD 139,113,000 for the year, demonstrating overall profitability despite market challenges[15]. - The profit before tax was HKD 205,918,000, showing a strong performance across various segments[16]. - The company reported a net profit of HKD 95,631,000 for the year, demonstrating effective cost management and revenue generation strategies[16]. Dividends and Shareholder Returns - Proposed final dividend of HKD 0.07 per share, totaling HKD 0.10 per share for the year, with a payout ratio of 50.5%[2]. - The board proposed a final dividend of HKD 7.0 cents per share, with total dividends for the year expected to be HKD 10.0 cents per share, a 42.9% increase from HKD 7.0 cents in the previous year[43]. - The company proposed a final dividend of HKD 0.07 per share for the year ending December 31, 2024, totaling approximately HKD 51,398,000, pending shareholder approval[36]. Assets and Liabilities - Total assets increased to HKD 1,995.3 million as of December 31, 2024, compared to HKD 1,965.2 million as of December 31, 2023[4]. - Total liabilities decreased to HKD 732.0 million as of December 31, 2024, from HKD 772.0 million in the previous year[5]. - Total assets amounted to HKD 1,995,335,000 as of December 31, 2024, with significant investments in non-current assets[15]. - Total assets as of December 31, 2023, reached HKD 1,965,228,000, indicating robust asset management[16]. - The total liabilities were HKD 772,012,000, reflecting a manageable debt level relative to assets[16]. Revenue Streams - The hotel supplies business generated revenue of HKD 322,989,000, while the operational supplies and equipment business reported HKD 315,893,000[15]. - The health care and hygiene products segment achieved revenue of HKD 294,759,000, indicating a diversified revenue stream[15]. - The hotel supplies business revenue increased by 13.7% to approximately HKD 1,930.1 million for the year ending December 31, 2024, compared to HKD 1,697.2 million for the previous year, accounting for 83.5% of total group revenue[59]. - Revenue from the hotel supplies business in various regions for the year ending December 31, 2024, was approximately HKD 528.0 million from China, HKD 294.4 million from Hong Kong, HKD 323.0 million from North America, HKD 315.9 million from Europe, HKD 375.7 million from other Asia-Pacific regions, and HKD 90.1 million from Australia[60]. - The operating supplies and equipment business revenue increased by 8.8% to approximately HKD 210.4 million, accounting for 9.1% of total group revenue[61]. - The healthcare and hygiene products business revenue was approximately HKD 170.8 million, a decrease from HKD 176.8 million the previous year, accounting for 7.4% of total group revenue[64]. Cost Management and Expenses - The cost of goods sold for the year was HKD 1,182,765,000, up from HKD 1,077,213,000 in the previous year, indicating increased operational costs[20]. - Employee benefits expenses rose to HKD 567,833,000, compared to HKD 494,167,000 in the prior year, highlighting investment in human resources[20]. - Depreciation of property, plant, and equipment increased to HKD 59,215,000, up from HKD 52,541,000, reflecting ongoing capital investments[20]. - The company aims to reduce costs and increase efficiency to steadily improve profit margins amidst global economic uncertainties[70]. Future Plans and Strategies - The company plans to adopt the new Hong Kong Financial Reporting Standard No. 18 starting January 1, 2027, which will impact the presentation and disclosure of financial statements[12]. - The company plans to expand its product categories and services in the healthcare and hygiene sector to respond to market changes and create new growth opportunities[63]. - The company aims to enhance its production capacity in Cambodia to alleviate cost pressures and capitalize on the market potential in Southeast Asia[67]. - The company is committed to integrating more environmentally friendly materials into its production processes and aims to achieve long-term sustainability goals[68]. - The company will continue to focus on product innovation and service upgrades to enhance product competitiveness and customer satisfaction[69]. - The company will continue to deepen sustainable development and enhance core competitiveness to capture market share and solidify its industry-leading position[70]. Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for the appointment of a CEO, which is currently managed collectively by the executive directors[72]. - The audit committee has reviewed the group's annual performance for the year ended December 31, 2024[74]. - The company has not purchased, sold, or redeemed any of its listed securities during the year ended December 31, 2024[73]. Employee Information - The total number of employees as of December 31, 2024, is approximately 7,900, with employee benefit expenses (including director remuneration) amounting to approximately HKD 567.8 million[71]. Meeting and Reporting - The company plans to hold its annual general meeting on May 22, 2025, with a record date for shareholders set for the same day[76]. - The annual report will be published on the Hong Kong Stock Exchange's website and the company's website at an appropriate time[80].
明辉国际(03828) - 2024 - 年度业绩