Financial Performance - Revenue for the year ended December 31, 2024, was HKD 660.5 million, representing a 42.9% increase from HKD 462.3 million in 2023[2] - Gross profit for the same period was HKD 81.4 million, up 107.1% from HKD 39.3 million in 2023, resulting in a gross margin of 12.3% compared to 8.5%[2][4] - The net profit attributable to equity holders for the year was HKD 16.9 million, a significant recovery from a loss of HKD 5.0 million in 2023, with a net profit margin of 2.6%[2][4] - Basic and diluted earnings per share for the year were HKD 0.0282, compared to a loss per share of HKD 0.0083 in the previous year[2][4] - Revenue increased by 42.9% to approximately HKD 660.5 million in 2024, compared to HKD 462.3 million in 2023[34] - Gross profit rose by 107.1% to approximately HKD 81.4 million in 2024, with a gross margin of about 12.3%, up from 8.5% in 2023[34] - Net profit for 2024 was approximately HKD 16.9 million, a significant turnaround from a net loss of HKD 5.0 million in 2023[34] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 283.3 million, an increase from HKD 261.0 million in 2023[5][6] - Total equity attributable to equity holders increased to HKD 86.1 million from HKD 69.5 million in 2023[5][6] - Current liabilities rose to HKD 195.7 million from HKD 190.2 million in 2023, with accounts payable and other payables increasing to HKD 109.8 million[6] - Accounts receivable increased to HKD 91.8 million in 2024 from HKD 51.6 million in 2023, indicating improved sales performance[29] - Inventory balance rose to approximately HKD 75.9 million in 2024 from HKD 43.3 million in 2023, attributed to increased sales[40] - Accounts payable rose from HKD 69,500,000 as of December 31, 2023, to HKD 93,600,000 as of December 31, 2024, due to increased procurement activities[43] Revenue Sources - Revenue from major customers contributing 10% or more to the group's revenue totaled HKD 587,706,000 for 2024, up from HKD 397,878,000 in 2023, indicating a growth of about 47.7%[15] - The group's sales analysis by region showed that revenue from China was HKD 641,019,000 in 2024, up from HKD 437,594,000 in 2023, representing an increase of approximately 46.4%[17] Expenses - The cost of sales, marketing, and administrative expenses totaled HKD 629,278,000 for the year ended December 31, 2024, compared to HKD 464,792,000 in 2023, reflecting an increase of approximately 35.4%[18] - Employee benefit expenses increased to HKD 69,585,000 in 2024 from HKD 60,176,000 in 2023, reflecting a rise of about 15.9%[18] - Selling and marketing expenses decreased to approximately HKD 1.2 million in 2024 from HKD 1.5 million in 2023, due to reduced sales commissions and travel expenses[35] - Administrative expenses increased to approximately HKD 49.0 million in 2024 from HKD 40.3 million in 2023, primarily due to higher employee benefit costs[36] Tax and Provisions - The income tax expense for the year ended December 31, 2024, was HKD 6,641,000, a significant increase from a tax credit of HKD 373,000 in 2023[21] - The group incurred a bad debt provision of HKD 697,000 for the year ended December 31, 2024, compared to a reversal of HKD 102,000 in 2023[19] - Tax expense for 2024 was approximately HKD 6.6 million, compared to a tax credit of HKD 0.4 million in 2023[39] Other Financial Information - The group reported a net loss of HKD 6,050,000 from other losses for the year ended December 31, 2024, compared to a gain of HKD 524,000 in 2023[20] - Other losses for 2024 amounted to approximately HKD 6.1 million, compared to other income of HKD 0.5 million in 2023, mainly due to losses from the sale of subsidiaries[37] - Financial income decreased by 24.3% to approximately HKD 2.4 million in 2024, while financing costs decreased by 44.6% to approximately HKD 4.0 million[38] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency in reporting[10] - The company has adopted a standard code of conduct for securities trading as per the listing rules, effective from January 1, 2024[60] - All relevant employees are required to comply with the code of conduct when trading the company's securities[61] Future Plans and Events - The group plans to enhance product innovation and improve operational efficiency to shorten product delivery times in 2025[56] - The annual report for the year ending December 31, 2024, will be published around April 25, 2025[66] - The annual general meeting is scheduled for May 23, 2025, with shareholder registration suspended from May 20 to May 23, 2025[65] - No significant events affecting the company and its subsidiaries occurred after the reporting period[62] Capital and Investments - The group had no significant capital commitments as of December 31, 2024[50] - The group did not utilize any financial instruments to hedge foreign currency risks during 2024[48] - The group had no major investments in other companies as of December 31, 2024[52]
迅捷环球控股(00540) - 2024 - 年度业绩