Financial Performance - The group's revenue for the year ended December 31, 2024, was HKD 681,678,000, a decrease of 12.0% compared to HKD 774,727,000 in 2023[5] - The group's gross profit fell to HKD 109,444,000, down 51.2% from HKD 224,288,000 in the previous year, resulting in a gross margin of 16.1%, a decrease of 12.9 percentage points[8] - The group reported a net loss of HKD 20,329,000 for the year, compared to a profit of HKD 63,726,000 in 2023, with a basic loss per share of HKD 0.034[9] - The total capital expenditure contracted but not provided for was HKD 46,935,000, up from HKD 23,731,000 in 2023, indicating ongoing investment in infrastructure[23] - Pre-tax profit before losses was HKD 69,062,000 in 2024, down from HKD 86,285,000 in 2023, a decrease of 20.0%[39] - Tax expenses for the year 2024 were HKD 1,387,000, significantly lower than HKD 7,205,000 in 2023, a reduction of 80.7%[40] Revenue Breakdown - Revenue from watchbands and fashion accessories decreased by 28.9% and 30.7% respectively, while revenue from mobile phone frames and parts increased by 7.3%[6] - Revenue from mobile phone frames and parts increased to HKD 304,378,000 in 2024 from HKD 283,570,000 in 2023, representing a growth of 7.0%[36] - Revenue from smart wearable device frames and parts decreased to HKD 157,130,000 in 2024 from HKD 180,613,000 in 2023, a decline of 12.9%[36] - Revenue from the Chinese market was HKD 319,033,000 in 2024, down from HKD 335,253,000 in 2023, a decline of 4.3%[37] - Revenue from Switzerland decreased to HKD 177,555,000 in 2024 from HKD 253,505,000 in 2023, a decline of 30.0%[37] - Revenue from Vietnam increased significantly to HKD 40,389,000 in 2024 from HKD 7,764,000 in 2023, a growth of 419.5%[37] Assets and Liabilities - The group's inventory balance as of December 31, 2024, was HKD 64,244,000, an increase of 6.4% from HKD 60,358,000 in 2023, with an inventory turnover period of 39.8 days[16] - Trade receivables amounted to HKD 166,055,000, up from HKD 141,884,000 in the previous year, with a trade receivables turnover period of 82.7 days[17] - Trade payables increased to HKD 116,514,000 from HKD 85,776,000 in 2023, with a trade payables turnover period of 64.7 days[18] - As of December 31, 2024, the group's net current assets amounted to HKD 297,079,000, a decrease from HKD 381,265,000 as of December 31, 2023[19] - The total cash and bank balances were HKD 222,249,000, down from HKD 317,161,000 in the previous year, with 20.9% in HKD, 19.9% in RMB, and 59.1% in USD[19] - The total outstanding bank borrowings increased to HKD 67,783,000 from HKD 50,033,000, with 57,783,000 HKD due within one year[19] Dividends and Shareholder Returns - The group did not recommend the payment of a final dividend for the year ended December 31, 2024[5] - The company confirmed an interim dividend of HKD 0.5 per share for 2024, totaling HKD 3,000,000, while no final dividend was proposed for the year[44] - The interim dividend paid in October 2024 was 0.5 HK cents per ordinary share, down from 1.5 HK cents in 2023, resulting in a total dividend of 0.5 HK cents for the year[55] - The company did not repurchase or redeem any of its listed securities during the year ended December 31, 2024[52] Operational Challenges and Future Plans - The group faced challenges due to a slowdown in global demand for luxury personal goods, impacting sales across its product lines[4] - The group plans to enhance operational efficiency and resource allocation to ensure sustainable profitability amid global economic challenges[26] Employee and Cost Management - The total number of employees decreased to 2,455 from 2,495, with total employee costs amounting to HKD 273,309,000, down from HKD 295,377,000[25] - Total employee costs amounted to HKD 273,309,000 in 2024, compared to HKD 295,377,000 in 2023, reflecting a decrease of 7.5%[39] Financial Ratios and Metrics - The group's debt-to-asset ratio increased to 0.06 from 0.04, indicating a slight rise in leverage[21] - Financing costs decreased to HKD 2,866,000 in 2024 from HKD 4,271,000 in 2023, a reduction of 32.8%[38] Receivables and Overdue Accounts - The total trade and other receivables increased to HKD 231,926,000 in 2024 from HKD 181,219,000 in 2023, reflecting a growth of approximately 28%[45] - Trade receivables amounted to HKD 169,004,000 in 2024, up from HKD 142,768,000 in 2023, indicating an increase of about 18%[45] - As of December 31, 2024, overdue trade receivables amounted to HKD 79,016,000, compared to HKD 54,037,000 in 2023, showing an increase of approximately 46%[48] Reporting and Compliance - The preliminary annual performance announcement will be published on the company's website and the Hong Kong Stock Exchange website[56] - The annual report for the year ending December 31, 2024, will be presented to shareholders by the end of April 2025[56] - The financial figures in the preliminary announcement have been verified by Deloitte, but no opinion or guarantee has been provided regarding the summary[54]
盈利时(06838) - 2024 - 年度业绩