Financial Performance - Revenue increased by 23% to approximately RMB 322.3 million for the year ended December 31, 2024[3] - Profit attributable to shareholders rose by 71% to approximately RMB 106.6 million[3] - Basic earnings per share increased to RMB 0.054 from RMB 0.034[5] - Operating profit increased to RMB 96.6 million, up from RMB 67.6 million[5] - Total comprehensive income for the year was RMB 107.2 million, compared to RMB 63.6 million in the previous year[6] - The group's operating revenue for the year ended December 31, 2024, was RMB 322,297,000, an increase of 22.7% from RMB 262,644,000 in 2023[17] - The revenue from licensing fees was RMB 127,045,000, up from RMB 103,623,000, representing a growth of 22.6%[17] - The revenue from merchandise sales increased to RMB 195,252,000 from RMB 159,021,000, reflecting a growth of 22.7%[17] - The total gross profit increased by 24% to RMB 162.6 million, compared to RMB 131.4 million in 2023[44] - Operating profit surged by 43% to approximately RMB 96.6 million for the year ended December 31, 2024, up from RMB 67.6 million in 2023[35] Assets and Liabilities - Cash and cash equivalents amounted to approximately RMB 476.2 million[3] - Non-current assets decreased to RMB 392.9 million from RMB 402.6 million[7] - Current assets increased to RMB 538.3 million from RMB 413.8 million[7] - Net assets rose to RMB 762.2 million from RMB 672.3 million[7] - As of December 31, 2024, contract liabilities rose significantly to RMB 54,081,000 from RMB 34,201,000, indicating business growth[18] - Trade receivables increased to RMB 16,636,000 in 2024 from RMB 14,521,000 in 2023, with net trade receivables of RMB 7,235,000 after provisions[28] - The company's trade payables remained stable at RMB 36,891,000 in 2024 compared to RMB 37,153,000 in 2023[29] - As of December 31, 2024, the equity attributable to shareholders was approximately RMB 758.5 million, an increase from RMB 668.1 million in 2023[54] - The net debt ratio remained at net cash status, with the current ratio improving to 3.4 times in 2024, up from 3.0 times in 2023[54] Dividends and Shareholder Returns - Proposed final dividend of HKD 0.02 per share[3] - The board proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2024, totaling approximately RMB 37,198,000, up from RMB 17,934,000 in 2023[27] - The company plans to distribute a dividend of HKD 0.02 per share, a 100% increase from HKD 0.01 in 2023[51] - The company will suspend the transfer of shares from June 17 to June 19, 2025, for the purpose of dividend distribution[73] Market and Economic Context - China's GDP growth for 2024 was reported at 5.0%, indicating a moderate recovery despite external economic challenges[31] - Online retail sales in China reached RMB 15.5 trillion in 2024, growing by 7.2% year-on-year, reflecting the rapid development of e-commerce[32] - The retail consumption market in China saw a year-on-year growth of 3.5% in 2024, although this was lower than the GDP growth rate, indicating cautious consumer sentiment[31] Strategic Initiatives - The company continues to enhance its core brand "Daphne" and the new brand "Daphne.Lab" through strategic collaborations and innovative marketing[33] - The company is adopting a cautious approach to expansion, optimizing its online and offline networks while maintaining efficient operations[33] - The brand "Daphne" launched a brand renewal plan and appointed a new brand ambassador to enhance its market presence and consumer engagement[36] - The group is actively expanding its online presence on emerging platforms like Douyin and Pinduoduo, achieving higher-than-expected growth rates[37] - The "Daphne.Lab" brand celebrated its first anniversary and successfully attracted a loyal customer base through innovative designs and marketing[39] - The company plans to enhance its brand development by launching the "Sweet Dream Time" product series in Spring 2025 and adding new brand ambassadors[63] - The company aims to expand its e-commerce channels and explore different market segments on e-commerce platforms to increase coverage[64] - The company will open one to two "Daphne Lab" stores in newly developed "non-traditional" first-tier cities to target young consumers[64] Governance and Compliance - The board of directors confirmed compliance with the Securities Listing Rules and the Standard Code for Directors' Securities Transactions for the year ending December 31, 2024[67] - The company has adhered to all applicable provisions of the Corporate Governance Code for the year ending December 31, 2024[68] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2024, and found no discrepancies in the accounting treatments adopted[70] - The auditors, PwC, confirmed that the preliminary results announcement aligns with the audited financial statements for the year ending December 31, 2024[71] - There were no significant matters affecting the group known to the directors from December 31, 2024, to the date of the announcement[69] Operational Efficiency - The operating profit for 2024 was impacted by an increase in employee benefits expenses, which rose to RMB 46,455,000 from RMB 42,815,000, an increase of 15.4%[21] - Employee benefits expenses, including director remuneration, amounted to approximately RMB 46.5 million in 2024, a 9% increase from RMB 42.8 million in 2023[61] - The company has implemented digitalization in its workflow and integrated shipping processes to enhance efficiency and quality control[40] - The group is focusing on enhancing consumer interaction through social media collaborations and innovative marketing strategies[40] Other Financial Metrics - The financial costs for 2024 were RMB 360,000, a decrease from RMB 4,255,000 in 2023, primarily due to the absence of convertible bond interest[22] - The total other income for 2024 was RMB 51,060,000, down from RMB 59,631,000 in 2023, a decrease of 14.5%[19] - Other income decreased by 14% to approximately RMB 51.1 million, primarily due to a reduction in rental income from investment properties[46] - The fair value gain of financial assets measured at fair value through profit or loss was approximately RMB 0.3 million in 2024, compared to RMB 1.1 million in 2023[53] - The current ratio improved to 3.4 from 3.0, indicating better liquidity[42]
达芙妮国际(00210) - 2024 - 年度业绩