Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 1,474,488,000, an increase of 3.9% from HKD 1,418,994,000 in 2023[3] - The gross profit for the year was HKD 455,482,000, down 4.4% from HKD 476,364,000 in the previous year[3] - The operating profit decreased significantly to HKD 113,004,000, a decline of 40.7% compared to HKD 190,204,000 in 2023[3] - The net profit attributable to shareholders was HKD 57,074,000, down 51.6% from HKD 117,949,000 in the prior year[5] - Basic earnings per share decreased to HKD 13.2989 from HKD 27.5473, reflecting a decline of 51.7%[5] - The group’s operating profit for 2024 was HKD 95,133,000, down 26.9% from HKD 130,323,000 in 2023[17] - Shareholders' profit for the year was HKD 57,074,000, a significant decline of 51.6% compared to HKD 117,949,000 in 2023[46] Revenue Breakdown - Total revenue from external customers for the year 2024 reached HKD 1,474,488,000, an increase of 3.9% compared to HKD 1,418,994,000 in 2023[22] - The manufacturing segment generated revenue of HKD 931,812,000 in 2024, up from HKD 821,760,000 in 2023, reflecting a growth of 13.4%[17] - The trading segment reported revenue of HKD 542,676,000 in 2024, a decrease of 9.2% from HKD 597,234,000 in 2023[17] - Manufacturing revenue increased by 13.4% to HKD 931,812,000 from HKD 821,760,000 in 2023, accounting for 63.2% of total revenue[48] - Trade business revenue decreased by 9.1% year-on-year to HKD 542,676,000, accounting for 36.8% of total group revenue[50] Assets and Liabilities - Total assets increased to HKD 1,944,866,000, up from HKD 1,786,603,000, representing a growth of 8.8%[7] - Total liabilities rose to HKD 765,577,000 in 2024, up from HKD 625,420,000 in 2023, indicating a 22.4% increase[18] - Non-current assets increased to HKD 940,361,000 in 2024 from HKD 725,022,000 in 2023, representing a growth of 29.6%[23] - Trade receivables rose to HKD 400,015,000 in 2024, up from HKD 339,151,000 in 2023, indicating an increase of 17.9%[34] Cash Flow and Expenditures - The company reported a decrease in cash and cash equivalents to HKD 179,638,000 from HKD 317,849,000, a decline of 43.5%[7] - Capital expenditures for the year amounted to HKD 210,805,000, compared to HKD 153,639,000 in 2023, reflecting a significant increase of 37.2%[20] - The group’s cash and undrawn bank financing totaled approximately HKD 191,793,000 and HKD 750,600,000, respectively, as of December 31, 2024[46] - The group plans a capital expenditure budget of HKD 152.6 million for 2025, primarily for expanding operations in Mexico and Cambodia[56] Dividends and Shareholder Returns - The proposed final dividend per share decreased to HKD 0.05 in 2024 from HKD 0.06 in 2023, reflecting a reduction of 16.7%[32] - The board proposed a final dividend of HKD 0.05 per share, down from HKD 0.06 per share in the previous year[61] Corporate Governance - The board confirmed compliance with the corporate governance code for the fiscal year ending December 31, 2024[64] - All directors confirmed adherence to the standard code of conduct for securities transactions for the fiscal year ending December 31, 2024[65] - The audit committee reviewed the consolidated financial statements for the fiscal year ending December 31, 2024[66] - The auditor confirmed that the preliminary announcement figures align with the draft consolidated financial statements for the fiscal year ending December 31, 2024[67] Future Outlook and Strategies - The company plans to continue exploring new product development and market expansion strategies to enhance future performance[2] - The group expects the new Hong Kong Financial Reporting Standards to have minimal impact on its operational performance and financial position[14] - The group plans to expand production in Cambodia, with a monthly capacity of approximately 450,000 units starting in the second half of 2025[52] - The group’s Mexican factory is expected to reach a production capacity of 1,000,000 hats per month by the end of 2025[47] Acquisitions and Investments - The group completed the acquisition of 55% equity in Difuzed B.V. for EUR 5,000,000 (approximately HKD 43,124,000) on August 23, 2024[42] - Difuzed contributed revenue of HKD 63,594,000 since the acquisition, with a net loss of HKD 14,414,000 during the same period[44]
飞达控股(01100) - 2024 - 年度业绩