Financial Performance - Revenue increased by approximately 3.4% to about RMB 3,207.7 million for the fiscal year ending December 31, 2024, compared to RMB 3,102.9 million in the previous fiscal year[3]. - Gross profit rose by approximately 5.4% to about RMB 1,163.1 million, up from RMB 1,103.0 million in the fiscal year 2023[3]. - Profit attributable to owners of the company decreased by approximately 7.2% to about RMB 563.5 million, down from RMB 607.4 million in the previous fiscal year[3]. - Basic earnings per share decreased by 8.2% to approximately RMB 0.56, compared to RMB 0.61 in the fiscal year 2023[5]. - Total comprehensive income for the year was RMB 423.1 million, a decrease from RMB 767.9 million in the previous year[5]. - The company reported a net profit attributable to shareholders of approximately RMB 563.5 million for fiscal year 2024, a decrease of 7.2% from RMB 607.4 million in fiscal year 2023[50]. Dividends - Proposed final dividend is HKD 0.30 per share[3]. - The interim dividend for 2024 was set at RMB 182,873,000, a significant increase from RMB 93,611,000 in 2023[23]. - The proposed final dividend for 2024 is RMB 280,803,000, compared to RMB 233,364,000 in 2023, marking a 20.3% increase[23]. - The board proposed a final dividend of HKD 0.3 per share, resulting in a payout ratio of 82.6% based on a net profit of RMB 561.6 million for the fiscal year 2024[62]. Capital Expenditure and Assets - Capital expenditure decreased by approximately 2.0% to about RMB 256.8 million, down from RMB 262.1 million in the previous fiscal year[3]. - The company’s capital commitments for property, plant, and equipment amounted to RMB 146.4 million as of December 31, 2024[56]. - Non-current assets in China for 2024 were RMB 1,134,452,000, a marginal increase from RMB 1,128,187,000 in 2023[15]. - The company's issued share capital as of December 31, 2024, was approximately RMB 87.5 million, unchanged from the previous year[65]. Revenue Sources and Sales - Revenue from North America increased to RMB 1,533,273,000 in 2024, up 5.2% from RMB 1,457,226,000 in 2023[14]. - Revenue from China increased by approximately RMB 32.1 million, a growth of 2.9%, despite a weak performance in the first half of FY2024[43]. - The total sales volume of automotive decorative parts decreased by approximately 29.2 million units, a decline of 7.4%, while the average selling price rose to approximately RMB 8.81 per unit, an increase of 11.7%[42]. Operational Efficiency - Overall yield rate improved from 93.5% in FY2023 to 94.1% in FY2024, attributed to enhanced operational efficiency in the Mexican facility and ongoing automation initiatives[37]. - Operating expenses increased by approximately 10.1% to RMB 408.1 million in fiscal year 2024, compared to RMB 370.8 million in fiscal year 2023[49]. - Sales and distribution expenses decreased by approximately 5.1% to RMB 85.9 million in fiscal year 2024, attributed to better control of travel costs for overseas operations[48]. Market Outlook - Global light vehicle sales are projected to reach 88.2 million units in 2024, representing a 1.7% increase from 2023[28]. - In the U.S., new vehicle sales are expected to reach approximately 16.0 million units in 2024, marking over a 2% increase compared to 2023, the highest sales since the pandemic[29]. - The European automotive market, including the UK, is expected to grow by 0.9% in 2024, with challenges primarily in Western Europe due to high vehicle prices and economic uncertainty[30]. - In China, the production of light vehicles is projected to be 31.3 million units in 2024, with sales reaching 31.4 million units, reflecting year-on-year growth of 3.7% and 4.5% respectively[30]. - Electric vehicles are expected to account for over 40% of new vehicle sales in China in 2024, supported by government subsidies[30]. - The global electric vehicle sales are anticipated to reach 17.4 million units in 2024, showing a significant year-on-year growth of 48%[33]. Corporate Governance - The board has been monitoring corporate governance practices and believes it has complied with the corporate governance code during the fiscal year 2024[73]. - The company has maintained the required public float as per listing rules as of the announcement date[72]. - The audit committee has been established in accordance with Listing Rule 3.21 to review the consolidated financial statements for the fiscal year 2024[75]. - The financial statements have been agreed upon by the auditor, Ernst & Young, and are consistent with the draft amounts reported for the year[76]. - The annual report for the fiscal year 2024 will be published on the Hong Kong Stock Exchange and the company's website in due course[77].
信邦控股(01571) - 2024 - 年度业绩