Financial Performance - Revenue for the year increased by 12.4% to HKD 1,010,000,000 compared to HKD 898,700,000 in the previous year[2] - Profit for the year surged by 92.5% to HKD 30,100,000, up from HKD 15,600,000 in the previous year[2] - Basic earnings per share rose to HKD 1.01 from HKD 0.54 in the previous year[2] - Total revenue for the year ended December 31, 2024, was HKD 1,010,006,000, an increase of 12.4% compared to HKD 898,733,000 in 2023[16] - Gross profit for 2024 was HKD 285,705,000, compared to HKD 222,824,000 in 2023, indicating a year-over-year increase of about 28.2%[21] - Net profit after tax for the year was HKD 30,111,000, a significant increase of HKD 14,466,000 or 92.5% compared to HKD 15,645,000 in the previous year[45] - Basic earnings per share for 2024 were HKD 10,597,000, compared to HKD 5,667,000 in 2023, showing a substantial increase of approximately 87.5%[28] Revenue Breakdown - Revenue from hydraulic equipment parts increased significantly to HKD 485,904,000, up 33.3% from HKD 364,444,000 in the previous year[16] - Sales of electronic equipment parts decreased to HKD 27,244,000, down 24.8% from HKD 36,192,000 in 2023[16] - Total customer revenue for 2024 reached HKD 1,010,006,000, an increase from HKD 898,733,000 in 2023, representing a growth of approximately 12.4%[21] - Sales of hydraulic equipment parts amounted to HKD 485,904,000, achieving double-digit growth and becoming the largest revenue segment for the company[40] - Automotive parts sales recorded HKD 444,860,000, remaining roughly flat compared to the previous year despite pressures from declining orders in traditional automotive projects[41] - Sales in the electronic equipment parts segment decreased by HKD 8,948,000 or 24.7%, totaling HKD 27,244,000 due to overall market contraction[41] Cash and Assets - The company reported a net cash position of HKD 223,400,000, equivalent to HKD 21.23 per share, down from HKD 488,800,000 or HKD 46.45 per share in the previous year[2] - Total assets decreased to HKD 1,986,266,000 from HKD 2,119,470,000 in the previous year[6] - The net cash position as of December 31, 2024, is HKD 223,396,000, a decrease of HKD 265,458,000 from HKD 488,854,000 last year[55] - The total cost of investment properties and other properties amounted to HKD 2,788,135 thousand, an increase from HKD 2,671,207 thousand at the beginning of the year, representing a growth of approximately 4.4%[31] - The net book value of intangible assets as of December 31, 2023, was HKD 68,362 thousand, down from HKD 71,972 thousand at the beginning of the year, indicating a decrease of about 5.5%[32] Liabilities and Equity - Current liabilities increased to HKD 484,051,000 from HKD 427,357,000 in the previous year[6] - Non-current liabilities decreased significantly to HKD 38,348,000 from HKD 155,280,000 in the previous year[6] - Total equity decreased to HKD 1,947,918,000 from HKD 1,964,190,000 in the previous year[6] - The total bank borrowings increased to HKD 285,783,000 from HKD 166,355,000 in the previous year, primarily due to acquisition costs and new factory construction[52] Research and Development - Research and development costs rose to HKD 80,641,000 in 2024 from HKD 57,696,000 in 2023, reflecting a significant increase of approximately 39.7%[26] - Research and development expenses increased due to the acquisition of Yutai Hydraulic and Wuhu Yingnuo, with 88 patents applied for and 71 patents obtained[44] Corporate Governance - The company has adopted corporate governance principles and has complied with the corporate governance code for the year ending December 31, 2024, with some exceptions noted[62] - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and discussing risk management and internal controls[63] - The board of directors includes executive and independent non-executive members, ensuring diverse governance[67] Future Outlook - Future outlook includes continued focus on expanding product lines and market presence, particularly in hydraulic equipment[16] - The company plans to enhance its competitive advantage by focusing on new products, technologies, and processes while optimizing cost structures and expanding into new markets[46] - The average forecast sales growth rate for the next five years is projected at 4%, up from 3% in 2023[34]
国际精密(00929) - 2024 - 年度业绩