Financial Performance - Revenue for the year ended December 31, 2024, was HKD 5,449,987, an increase of 1.8% compared to HKD 5,352,473 in 2023[2] - Gross profit decreased to HKD 1,253,869, down 6.7% from HKD 1,344,744 in the previous year[2] - Operating profit for the year was HKD 932,272, a decline of 10.3% from HKD 1,039,548 in 2023[2] - Net profit for the year was HKD 738,497, down 11% from HKD 829,847 in 2023[2] - Basic and diluted earnings per share decreased to HKD 109.11 from HKD 122.60 in the previous year[2] - Other income increased to HKD 124,582, up from HKD 90,307, marking a significant rise of 38%[2] - Pre-tax profit for 2024 was HKD 738,497,000, a decrease of 11% from HKD 829,847,000 in 2023[28] - Basic earnings per share for 2024 were HKD 1.09, down from HKD 1.22 in 2023, representing a decline of 10.7%[28] - Net profit attributable to shareholders was HKD 738,500,000, resulting in a net margin of 13.6%, compared to 15.5% in 2023[40] Revenue Breakdown - Revenue from the plush toy segment was HKD 2,765,513 in 2024, compared to HKD 2,737,208 in 2023, reflecting a growth of about 1.0%[21] - The plastic model segment generated revenue of HKD 2,311,164 in 2024, up from HKD 2,222,130 in 2023, indicating an increase of approximately 4.0%[21] - The waterproof cover segment reported revenue of HKD 373,310 in 2024, down from HKD 393,135 in 2023, showing a decline of about 5.0%[21] - The plush toy segment generated revenue of HKD 2,765,500,000, accounting for 50.7% of total revenue, with growth primarily driven by the Asian market[42] - The plastic model segment's revenue rose to HKD 2,311,200,000, representing 42.4% of total revenue, benefiting from strong demand in North America and Japan[43] - North America remained the largest regional market, contributing 42.3% of total revenue, followed by Japan at 24.6% and mainland China at 18.8%[45] Assets and Liabilities - Total assets less current liabilities increased to HKD 3,992,191 from HKD 3,715,883 in 2023, reflecting a growth of 7.4%[5] - Total assets for the group as of December 31, 2024, were HKD 4,959,341, an increase from HKD 4,612,546 in 2023[23] - The group's total liabilities as of December 31, 2024, were HKD 998,423, compared to HKD 933,802 in 2023, reflecting an increase of approximately 6.9%[23] - The group’s reportable segment assets decreased to HKD 3,162,174 in 2024 from HKD 3,510,121 in 2023, a decline of approximately 9.9%[23] - The group’s reportable segment liabilities decreased to HKD 739,292 in 2024 from HKD 947,935 in 2023, a reduction of about 22.0%[23] Employee and Operational Costs - Employee costs increased to HKD 1,491,087,000 in 2024, up 12.6% from HKD 1,324,278,000 in 2023[24] - Total employee costs for the year amounted to HKD 1,491,100,000, up from HKD 1,324,300,000 in the previous year[49] - Inventory costs rose to HKD 4,196,118,000 in 2024, compared to HKD 4,007,729,000 in 2023, reflecting an increase of 4.7%[24] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.40 per share for 2024, an increase from HKD 0.35 per share in 2023, totaling HKD 406,119,000 in dividends for the year[41] - The proposed final dividend is HKD 0.40 per share, an increase from HKD 0.35 per share in 2023, totaling HKD 270,746,000 if approved[58] Strategic Initiatives and Market Outlook - The company plans to enhance production efficiency and capacity by increasing automation levels across production lines and is establishing a new production base in Indonesia, expected to be operational by mid-2025[48] - The company aims to focus on sustainable development by using recycled materials and encouraging customers to reduce packaging, aligning with stricter ESG standards[48] - Despite global inflation easing, geopolitical conflicts pose uncertainties, but the company is prepared to leverage opportunities in the recovering toy markets in the U.S. and Asia[47] Financial Management and Audit - The company maintained a prudent strategy in managing its financial needs and foreign exchange risks[50] - The audit committee reviewed the accounting policies and financial reporting matters for the year ending December 31, 2024[60]
德林国际(01126) - 2024 - 年度业绩