Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 2,396,950,000, a decrease of 3.9% compared to HKD 2,494,534,000 in 2023[3] - Gross profit for the same period was HKD 325,569,000, down 13.0% from HKD 374,166,000 in the previous year[3] - The net profit attributable to the company's owners for the year was HKD 31,647,000, a decline of 49.3% from HKD 62,506,000 in 2023[3] - Basic earnings per share decreased to HKD 1.55 from HKD 3.15, representing a drop of 50.7%[4] - The group reported a net profit of HKD 31,647 for the year ended December 31, 2024, down from HKD 62,506 in the previous year, representing a decline of 49.3%[19] - Net profit fell by 49.4%, from HKD 62,506,000 to HKD 31,647,000 year-over-year[55] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 3,461,482,000, an increase of 4.5% from HKD 3,312,149,000 in 2023[5] - Total liabilities increased to HKD 1,675,945,000 from HKD 1,622,476,000, reflecting a rise of 3.3%[5] - The total liabilities, including other payables and accrued expenses, decreased from HKD 1,099,872,000 in 2023 to HKD 1,053,003,000 in 2024, a reduction of about 4.3%[42] - The net carrying amount of property, plant, and equipment decreased from HKD 1,187,280,000 at the beginning of 2023 to HKD 1,166,909,000 by the end of 2024, a decrease of about 1.7%[34] - Accounts receivable as of December 31, 2024, was HKD 660,654,000, slightly down from HKD 667,322,000 in 2023, a decrease of approximately 1.0%[38] - Total accounts payable as of December 31, 2024, was HKD 810,194,000, compared to HKD 795,445,000 in 2023, an increase of approximately 1.0%[42] Cash Flow and Financial Position - The company's cash and cash equivalents rose significantly to HKD 374,207,000 from HKD 77,138,000, marking an increase of 385.5%[5] - The group’s financial income from bank deposits increased to HKD 4,706 in 2024, compared to HKD 2,515 in 2023[23] - Cash and cash equivalents increased by 310.0% to HKD 398,267,000 in 2024, compared to HKD 97,140,000 in 2023[70] - Total interest-bearing loans rose by 19.6% to HKD 582,973,000 in 2024, up from HKD 487,537,000 in 2023[70] Operational Highlights - The company plans to continue focusing on the manufacturing and sales of steel wire products, with no specific new product launches or market expansions mentioned in the report[6] - The company sold 240,049 tons of steel cord, an increase of 5.0% from 228,637 tons in the previous year[57] - Sales volume of cut steel wire increased by 11.9% to 847 tons from 757 tons year-over-year[57] - Other wire products saw a sales volume increase of 22.2%, rising to 13,175 tons from 10,782 tons in the previous year[57] - The group plans to expand production capacity by an additional 100,000 tons of steel cord through the construction of a new production line in Tengzhou[74] Research and Development - Research and development expenses for the year were HKD 101,977,000, a decrease of 6.0% from HKD 108,296,000 in 2023[3] - Research and development expenses decreased by 5.8% to HKD 101,977,000 in 2024, down from HKD 108,296,000 in 2023[64] Dividends and Shareholder Information - The proposed final dividend for the year ended December 31, 2024, is approximately HKD 40,186,000, translating to HKD 0.0171 per share[25] - The proposed final dividend for the year ending December 31, 2024, is approximately HKD 40,186,000, compared to HKD 19,584,000 for the previous year[79] Corporate Governance - The board is committed to high levels of corporate governance and regularly reviews the company's governance practices to ensure compliance with laws and regulations[84] - The company has adopted the Best Practice Corporate Governance Code and updates it as necessary to maintain effective governance and risk management systems[84] - The company expresses gratitude to shareholders, suppliers, and customers for their long-term support, indicating a strong commitment to business continuity and opportunity exploration in the future[86] - The company has complied with all principles and provisions of the corporate governance code as per the board's opinion[85] Forward-Looking Statements - Forward-looking statements in the announcement reflect the company's expectations regarding financial conditions and performance, acknowledging known and unknown risks that may cause actual results to differ significantly[87]
首佳科技(00103) - 2024 - 年度业绩