Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 6,026 million, a decrease of about 13.1% year-on-year[3] - The gross profit for the same period was approximately HKD 173 million, down approximately 65.9% compared to the previous year[3] - The gross profit margin fell from approximately 7.3% for the year ending December 31, 2023, to about 2.9%[3] - The loss attributable to equity holders of the company was approximately HKD 530 million, compared to a loss of approximately HKD 231 million for the previous year[3] - Basic loss per share attributable to equity holders was approximately HKD 0.627, compared to HKD 0.273 for the year ending December 31, 2023[3] - Total comprehensive loss for the year was approximately HKD 1,042 million, compared to HKD 644 million in the previous year[5] - The group's pre-tax loss was impacted by a significant increase in property, plant, and equipment impairment, which rose to HKD 303,596,000 in 2024 from HKD 45,000,000 in 2023[19] - The basic loss per share increased to HKD 0.626 in 2024 from HKD 0.273 in 2023, reflecting a worsening financial performance[25] Assets and Liabilities - Non-current assets decreased from approximately HKD 6,527 million to HKD 5,729 million year-on-year[6] - Current assets decreased from approximately HKD 5,628 million to HKD 4,613 million year-on-year[6] - Total equity decreased from approximately HKD 6,757 million to HKD 5,714 million year-on-year[7] - Trade receivables decreased to HKD 2,120,561,000 in 2024 from HKD 2,490,039,000 in 2023, a reduction of approximately 14.8%[26] - The aging analysis of trade receivables showed a decline in amounts within 3 months to HKD 1,315,604,000 in 2024 from HKD 1,440,992,000 in 2023[27] - As of December 31, 2024, total bank and other borrowings amounted to approximately HKD 2,640,000,000, a decrease of about 15.8% from HKD 3,137,000,000 in the previous year[44] Revenue Sources - Revenue from customers in mainland China (excluding Hong Kong) was HKD 5,417,093,000, down 16.6% from HKD 6,495,182,000 in the prior year[14] - Major customers contributed sales of approximately HKD 1,325,689,000, HKD 1,314,717,000, HKD 954,772,000, and HKD 668,830,000, each accounting for over 10% of total sales[15] Operational Costs - The cost of goods sold decreased to HKD 5,853,135,000 in 2024 from HKD 6,428,556,000 in 2023, a decline of about 8.9%[19] - Operating costs increased by approximately 6.3% to about HKD 706,000,000, compared to HKD 664,000,000 in the previous year, with operating costs as a percentage of revenue rising to approximately 11.7% from 9.6%[39] Financing and Credit - The group has approximately HKD 1,743,267,000 in undrawn revolving credit facilities available to support its financial obligations and operations[10] - The group has outstanding receivables of approximately HKD 501,151,000 from the sale of non-current assets classified as held for sale, with HKD 84,933,000 collected after the reporting period[10] - The group has a history of successfully extending revolving loans and will continue negotiations for refinancing existing bank loans[10] - The group's financing costs decreased to HKD 182,728,000 in 2024 from HKD 214,562,000 in 2023, representing a reduction of approximately 14.8%[18] Market Outlook - The global PC market shipment volume is projected to reach 245 million units in 2024, reflecting a growth of 1.3% compared to 2023[30] - The Chinese PC market experienced a sharp decline of 12% in shipment volume in the first quarter of 2024 due to increased economic uncertainty[30] - The company maintains a cautiously optimistic outlook for the future development of the PC market, anticipating a recovery in market demand driven by economic recovery and technological innovation[35] Other Financial Metrics - Interest income increased to HKD 33,794,000 from HKD 28,167,000 year-over-year[17] - The group recorded a net foreign exchange gain of HKD 145,114,000, compared to HKD 111,780,000 in the previous year[17] - Other income and gains rose by approximately 7.8% to about HKD 301,000,000, compared to HKD 280,000,000 in the previous year, accounting for about 5.0% of total revenue[38] - The total tax expense for the year was HKD 2,321,000 in 2024, a substantial decrease from HKD 162,176,000 in 2023[23] - Income tax expenses for the year were approximately HKD 2,000,000, a significant decrease from HKD 162,000,000 in the previous year[42] Corporate Governance - The independent non-executive directors were unable to attend the annual general meeting on May 16, 2024, due to other business commitments, but all committee members were present to answer questions[59] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set forth in the listing rules[60] - There have been no significant events affecting the group from the end of the fiscal year until the announcement date[61] - The audit committee reviewed the accounting policies and financial performance of the group for the year[62] - Ernst & Young has verified the financial figures in the consolidated income statement and balance sheet for the year ending December 31, 2024, confirming consistency with the group's financial statements[63] - The annual results announcement is available on the company's website and the Hong Kong Stock Exchange[64]
巨腾国际(03336) - 2024 - 年度业绩