Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 579,537,000, a decrease of 7.9% compared to HKD 629,430,000 in 2023[3] - Gross profit for the same period was HKD 146,190,000, down 12.5% from HKD 167,070,000 in the previous year[3] - Net profit attributable to equity holders of the company was HKD 60,310,000, representing a decline of 19.7% from HKD 75,083,000 in 2023[3] - Basic and diluted earnings per share were HKD 25.1 cents, compared to HKD 31.3 cents in the prior year, reflecting a decrease of 19.9%[3] - The total comprehensive income for the year was HKD 48,581,000, compared to HKD 66,050,000 in 2023, a decrease of 26.5%[4] - The overall performance indicates a need for strategic adjustments to improve profitability and revenue growth moving forward[2] Income and Expenses - Other income and gains increased to HKD 31,073,000 from HKD 21,897,000, marking a growth of 41.8%[3] - The company reported a tax expense of HKD 10,544,000, down from HKD 14,205,000, indicating a reduction of 25.0%[3] - Operating expenses for the fiscal year 2024 totaled approximately HKD 100.9 million, an increase of about 3.6% from HKD 97.4 million in the previous year, mainly due to increased general and administrative expenses[43] - General and administrative expenses increased by approximately HKD 3.6 million or 4.7%, reaching about HKD 80.7 million for the year ending December 31, 2024[46] Assets and Liabilities - Non-current assets increased to HKD 328,844,000 from HKD 321,748,000, representing a growth of approximately 2.4% year-over-year[5] - Current assets rose to HKD 794,925,000, up from HKD 746,970,000, indicating an increase of about 6.4% compared to the previous year[5] - Total liabilities decreased slightly to HKD 208,283,000 from HKD 207,882,000, showing a marginal reduction of 0.2%[5] - The company reported a total equity of HKD 745,229,000, up from HKD 720,648,000, which is an increase of approximately 3.4%[6] - Trade receivables decreased to HKD 158,975,000 from HKD 188,953,000, indicating a decline of about 15.9%[5] Market and Industry Trends - The global PCB market value is projected to reach approximately $80.3 billion in 2024, with a compound annual growth rate (CAGR) of 4.87% expected from 2024 to 2029, reaching $96.6 billion by 2029[29] - In 2024, China's PCB market value is estimated to reach RMB 412.1 billion, accounting for over 50% of the global market, and is expected to grow to RMB 433.3 billion by 2025[29] - The demand for PCBs is driven by advancements in 5G technology, new energy vehicles, and the Internet of Things, with significant growth opportunities in these sectors[30] - The automotive electronics sector is experiencing rapid growth, with new energy vehicles requiring higher levels of electronic components, leading to increased PCB demand[31] Strategic Initiatives - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[2] - The group plans to develop another production base outside of Shenzhen Pingshan or in Southeast Asia to maintain competitiveness and adapt to rising labor costs[41] - The company is exploring investment opportunities in Southeast Asia, particularly in Thailand, Vietnam, and Malaysia, to mitigate risks and expand into new markets[35] Corporate Governance and Compliance - The company has adhered to the corporate governance code as outlined in the listing rules since January 1, 2024[77] - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance up to December 31, 2024, and confirmed compliance with applicable accounting standards[79] - The independent auditor, Ernst & Young, confirmed that the financial statements are consistent with the group's annual financial report[80]
恩达集团控股(01480) - 2024 - 年度业绩