Financial Performance - Revenue for the year ended December 31, 2024, was HKD 1,611,644, representing a 5.7% increase from HKD 1,524,945 in 2023[3] - Gross profit increased by 1.7% to HKD 1,065,329 compared to HKD 1,047,243 in the previous year[3] - Annual profit decreased by 10.4% to HKD 529,167 from HKD 590,587 in 2023[4] - Profit attributable to owners of the company was HKD 500,278, down 7.4% from HKD 540,393 in the prior year[4] - Basic and diluted earnings per share decreased to HKD 0.60 from HKD 0.65[4] - The company reported a net profit of HKD 529,167,000 for the year ended December 31, 2024, compared to HKD 590,587,000 in 2023, indicating a decrease of approximately 10.4%[27] - The company's operating profit for the year ended December 31, 2024, was HKD 576,924,000, compared to HKD 624,149,000 in 2023, reflecting a decline of approximately 7.5%[27] - The group's annual profit decreased by 10.4% to HKD 529.2 million from HKD 590.6 million in 2023, with a net profit margin of 32.8% compared to 38.7%[81] Assets and Liabilities - Cash and bank balances decreased by 23.5% to HKD 1,819,753 from HKD 2,378,693[3] - Total assets rose by 2.8% to HKD 4,559,525 from HKD 4,434,445[3] - Total liabilities decreased from HKD 413,755,000 in 2023 to HKD 313,091,000 in 2024, representing a reduction of approximately 24.4%[7] - Non-current liabilities decreased from HKD 83,837,000 in 2023 to HKD 77,737,000 in 2024, a decline of about 7.3%[7] - Current liabilities decreased significantly from HKD 329,918,000 in 2023 to HKD 235,354,000 in 2024, reflecting a decrease of approximately 28.7%[7] - The total liabilities as of December 31, 2024, were HKD 313,091,000, a decrease from HKD 413,755,000 as of December 31, 2023[28] - The total equity rose to HKD 4,246,434 in 2024, compared to HKD 4,020,690 in 2023, reflecting a growth of approximately 5.6%[3] Revenue Breakdown - Revenue from the Hong Kong segment was HKD 1,069,651,000, while the Mainland China segment generated HKD 139,371,000, and the Overseas segment contributed HKD 402,622,000 for the year ended December 31, 2024[27] - Revenue from Hong Kong increased to HKD 1,069,651, up 16.9% from HKD 915,323 in 2023[31] - The group’s revenue in mainland China reached HKD 139.4 million, marking a 7.8% increase from HKD 129.3 million in 2023[56] - Revenue from overseas markets was HKD 402.6 million, down 16.2% from HKD 480.3 million in 2023[55] Expenses and Costs - Distribution and selling expenses rose by 29.8% to HKD 300.2 million from HKD 231.3 million in 2023, accounting for 18.6% of revenue, up from 15.2%[77] - General and administrative expenses increased by 7.2% to HKD 191.8 million from HKD 179.0 million in 2023, representing 11.9% of revenue, similar to the previous year's 11.7%[78] - The cost of inventory recognized as expenses for 2024 is HKD 468,616,000, compared to HKD 392,093,000 in 2023, indicating an increase of approximately 19.5%[45] Dividends - The proposed final dividend per share is HKD 0.35, up from HKD 0.33 in the previous year[3] - The total dividend paid for 2024 is HKD 292,985,000, with a proposed final dividend of HKD 0.35 per share, an increase from HKD 0.33 per share in 2023[44][45] Market and Product Development - The company operates in the production, retail, and wholesale of traditional Chinese medicine and health products, indicating a focus on the healthcare sector[8] - The group has launched new products including the Tong Ren Tang Xian Ling and anti-aging NMN series, expanding its product matrix significantly[58] - The group is committed to modernizing traditional Chinese medicine through collaboration with universities and research projects, enhancing product quality and market recognition[59] - The group aims to continue product development in the health sector to meet market demands for body function regulation and disease prevention[64] Research and Collaboration - The group has established a research collaboration platform with the University of Macau, focusing on the registration of traditional Chinese medicine products in Macau[60] - The group received a grant of 12 million Macanese Patacas from the Macau government for research on classic formulas, enhancing their stability and bioavailability[61] - The group has accumulated a total of 75 patents, including those in mainland China and Hong Kong, and has filed 8 PCT international applications as of December 31, 2024[64] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial performance for the year ending December 31, 2024[97] - Ernst & Young confirmed that the financial statements for the year ending December 31, 2024, are consistent with the audited consolidated financial statements[98] - The company has complied with the corporate governance code as of December 31, 2024[100]
同仁堂国药(03613) - 2024 - 年度业绩