Financial Performance - The company reported a loss attributable to shareholders of HKD 837,500,000 for the fiscal year ending December 31, 2024, compared to a profit of HKD 152,700,000 in the previous fiscal year[4]. - Total revenue for the year was HKD 2,664,674,000, down 16.3% from HKD 3,185,668,000 in the previous year[5]. - The basic loss per share was HKD 1.75, compared to earnings of HKD 0.32 per share in the previous year[5]. - The company recorded a net operating loss of HKD 286,081,000, compared to an operating profit of HKD 215,094,000 in the previous year[5]. - The company reported a total comprehensive loss of HKD 929,352,000 for the year ended December 31, 2024[10]. - The company reported a net loss before tax of HKD 782,828,000 for 2024, compared to a profit of HKD 200,115,000 in 2023[25]. - The company recognized other income of HKD 4,371,000 in 2024, down from HKD 14,731,000 in 2023, indicating a decrease of approximately 70.3%[30]. - The operating loss for fiscal year 2024 was HKD 286,100,000, compared to an operating profit of HKD 215,100,000 in the previous year[47]. Asset and Equity Changes - Total assets decreased to HKD 6,158,836,000 from HKD 7,310,256,000, representing a decline of 15.8%[7]. - The company's equity attributable to shareholders decreased to HKD 3,517,402,000 from HKD 4,474,267,000, a drop of 21.5%[8]. - Non-current assets decreased from HKD 4,464,082,000 in 2023 to HKD 3,445,665,000 in 2024, a decline of about 22.8%[27]. - The group's share of net assets from joint ventures decreased to HKD 604,695,000 in fiscal year 2024 from HKD 1,051,442,000 in the previous year[37]. Liabilities and Cash Flow - The company’s total liabilities decreased to HKD 2,641,434,000 from HKD 2,835,989,000, a reduction of 6.9%[8]. - Cash and cash equivalents decreased to HKD 719,846,000 from HKD 942,040,000, a decline of 23.6%[7]. - Total loans decreased to HKD 1,618,928,000 in fiscal year 2024 from HKD 1,790,678,000 in the previous year[42]. - As of December 31, 2024, the total bank credit of the group was HKD 2,908,900,000, a decrease from HKD 3,071,300,000 in 2023[50]. - The total bank loans amounted to HKD 1,618,900,000, down from HKD 1,790,700,000 in 2023[50]. Segment Performance - The EMS segment recorded a loss of HKD 726,281,000, while the property holding segment also faced significant losses[22]. - For the fiscal year ending December 31, 2024, the reported segment performance showed a loss of HKD 726,281,000 compared to a profit of HKD 271,340,000 in 2023[25]. - The EMS segment generated revenue of HKD 2,603,000,000 in fiscal year 2024, down from HKD 3,123,900,000 in the previous year, with a segment profit of HKD 189,800,000, a decrease of 0.8%[48]. - The property holding segment reported revenue of HKD 61,700,000 for fiscal year 2024, compared to HKD 61,800,000 in the previous year, with a segment loss of HKD 916,100,000, contrasting with a profit of HKD 79,900,000 in the previous year[49]. Fair Value and Depreciation - The fair value of investment properties decreased by HKD 472,741,000, compared to a decrease of HKD 12,062,000 in the previous year[5]. - There was a fair value loss of HKD 472,741,000 related to investment properties[22]. - Depreciation expenses amounted to HKD 47,636,000 for the year[22]. - The group recorded a fair value loss of approximately HKD 1,000,000,000 due to a significant drop in commercial property prices in Hong Kong in 2024[55]. Dividends and Future Outlook - The company plans to propose a final dividend of HKD 0.0300 per share for the fiscal year ending December 31, 2024, totaling approximately HKD 14,355,000[32]. - The company declared an interim dividend of HKD 0.0275 per share for fiscal year 2024, down from HKD 0.0300 per share in the previous year[43]. - The EMS business revenue for the first half of 2025 is expected to be similar to the revenue recorded in the second half of 2024[54]. - The factory in Vietnam is expected to become a significant source of growth for the group, with steady revenue growth anticipated[54]. Accounting Standards and Compliance - The company has adopted several revised accounting standards effective from January 1, 2024, with no significant impact expected on financial performance[13][17]. - The company is assessing the impact of new accounting standards that will come into effect in 2025 and 2026, but no major effects are anticipated[14][15]. - The group's auditor, PwC, confirmed that the financial figures for the year ending December 31, 2024, align with the draft consolidated financial statements[64]. Employee and Operational Management - The group employed 2,604 employees as of December 31, 2024, with a compensation policy based on job nature, qualifications, and experience[53]. - The group is taking measures to simplify production operations in its Vietnam factory and enhance talent training and technical capabilities[54]. - The group has not utilized any foreign exchange hedging products, aligning with its prudent financial risk management policy[51]. - The group maintains sufficient bank credit and cash reserves to meet the cash needs of its manufacturing and property holding sectors[50]. Revenue Sources - Revenue from customer contracts was HKD 2,603,021,000, with additional rental income of HKD 61,653,000, totaling HKD 2,664,674,000[22]. - Revenue from North America increased to HKD 423,101,000 in 2024 from HKD 355,376,000 in 2023, reflecting a growth of approximately 19.0%[26].
王氏国际(00099) - 2024 - 年度业绩