Financial Performance - The company recorded a revenue growth of approximately 30.5%, increasing from HKD 2,104.0 million in FY2023 to HKD 2,745.5 million in FY2024[2] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 53.6%, rising from HKD 135.1 million in FY2023 to HKD 207.5 million in FY2024[2] - The freight forwarding business saw a revenue increase of about 40.4%, growing from HKD 1,701.6 million in FY2023 to approximately HKD 2,389.3 million in FY2024[2] - The net profit for FY2024 was HKD 31.967 million, a decrease from HKD 48.247 million in FY2023[4] - Basic and diluted earnings per share for FY2024 were both HKD 0.109, down from HKD 0.165 in FY2023[3] - The company reported a total comprehensive income of HKD 8.624 million for FY2024, significantly lower than HKD 47.397 million in FY2023[4] - The profit before tax for 2024 is HKD 32,009,000, a decrease from HKD 48,278,000 in 2023, representing a decline of approximately 33.9%[32] - The total tax expense for 2024 is HKD 50,899,000, significantly higher than HKD 24,128,000 in 2023, indicating an increase of about 111%[26] Assets and Liabilities - Total assets less current liabilities increased to HKD 618.267 million in FY2024 from HKD 513.334 million in FY2023[5] - The company's net asset value rose to HKD 548.458 million in FY2024, compared to HKD 413.497 million in FY2023[6] - The company's cash and cash equivalents decreased slightly to HKD 255.023 million in FY2024 from HKD 260.279 million in FY2023[5] - Trade receivables, net of loss provisions, increased to HKD 534.9 million in 2024 from HKD 373.2 million in 2023[46] - The company's trade payables rose to HKD 308.3 million in 2024, up from HKD 236.1 million in 2023[51] - Total specific non-current assets decreased to HKD 453,053,000 in 2024 from HKD 495,136,000 in 2023, a decline of about 8.5%[24] Operational Highlights - The air freight segment generated external sales of HKD 1,178,575,000 in 2024, up from HKD 840,497,000 in 2023, marking an increase of about 40.2%[20][22] - Revenue from external customers in mainland China increased to HKD 638,139,000 in 2024, up from HKD 483,296,000 in 2023, reflecting a growth of about 32.2%[24] - The Italy office's revenue surged by 56.9% to HKD 708.7 million in FY2024, benefiting from improved economic conditions and increased business volume[63] - The Vietnam office reported revenue of HKD 88.0 million, a growth of approximately 59.0% in FY2024, primarily from textile exports to the U.S.[64] - The newly launched Jia Hong Express generated approximately HKD 315.2 million in revenue in its first operational year[65] - The cruise logistics segment contributed revenue of HKD 430.2 million, reflecting a stable year-on-year growth of 11.4%[66] Expenses and Costs - The company’s administrative and other operating expenses increased to HKD 423,379,000 in 2024 from HKD 392,893,000 in 2023, reflecting a rise of approximately 7.8%[20][22] - Employee costs rose to HKD 339,199,000 in 2024, up from HKD 328,592,000 in 2023, reflecting an increase of approximately 3.9%[25] - The financing costs for the year were HKD 27,069,000, up from HKD 22,558,000 in the previous year, indicating an increase of approximately 20.5%[20][22] - The depreciation expense for property, plant, and equipment in 2024 is HKD 29,073,000, compared to HKD 28,559,000 in 2023, reflecting an increase of about 1.8%[25] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.01 per share for FY2024, consistent with FY2023[2] - The board proposed a final dividend of HKD 0.01 per share for the fiscal year 2024, totaling HKD 3,004,890, pending shareholder approval[95] - The group will suspend share transfer registration from May 26 to May 29, 2025, to determine eligibility for voting at the annual general meeting[96] Strategic Developments - The company operates in 16 countries and regions, including China, the United States, and various European countries, and has partnerships with over 100 business partners globally[59] - A strategic alliance with DP World, which became the group's controlling shareholder in August 2024, aims to enhance market presence and operational efficiency[92] - The group is expanding into new verticals, including the delivery of aviation and automotive parts in Europe, leveraging expertise and global networks for sustainable growth[91] Market Outlook - The group maintains a cautiously optimistic outlook for the business environment, expecting global economic growth of 3.3% in 2025 and 2026, slightly above 3.2% in 2024[87] - The Southeast Asian market is projected to grow by 4.5% in 2024 and 4.7% in 2025, driven by resilient domestic and foreign demand[88] - The cruise tourism market is expected to grow from $6.96 billion in 2024 to $7.62 billion in 2025, prompting the group to invest in dedicated infrastructure at major cruise ports[90] Governance and Reporting - The board of directors consists of executive directors Liu Shiyou, Yan Tianrong, Chen Yawen, Augusta Morandin, and Fabio Di Nello, along with non-executive and independent directors[101] - The annual report for the fiscal year 2024 will be published in accordance with listing rules at an appropriate time on the stock exchange and the company's website[100]
嘉泓物流(02130) - 2024 - 年度业绩