Financial Performance - Revenue for the year ended December 31, 2024, increased to HKD 247,040,000 from HKD 211,795,000, representing a growth of approximately 16.6%[2] - Gross profit remained stable at HKD 61,385,000 compared to HKD 61,371,000, indicating a slight increase[2] - Operating loss decreased to HKD 30,081,000 from HKD 46,071,000, showing an improvement of approximately 34.7%[3] - Net loss for the year was HKD 68,062,000, down from HKD 106,812,000, reflecting a reduction of about 36.2%[3] - The company reported a basic and diluted loss per share of HKD 2.36 for the year, down from HKD 4.30[4] - The net loss attributable to the company's owners for continuing operations was HKD 29,717,000 in 2024, down from HKD 37,786,000 in 2023, a reduction of 21.8%[23] - The company reported a net unrealized gain from non-listed equity investments of HKD 8,440,000 in 2024, a significant recovery from a loss of HKD 2,477,000 in 2023[19] - The company reported a pre-tax loss from continuing operations of HKD 61,064,000 for the year ended December 31, 2024[17] - The company reported a net loss attributable to shareholders of approximately HKD 34,417,000 for the year, a decrease of HKD 28,092,000 compared to the previous year[47] Revenue Breakdown - Revenue from industrial products production and sales reached HKD 229,776,000, up from HKD 205,185,000, reflecting an increase of 12.0%[15] - The electricity sales segment generated revenue of HKD 17,264,000, significantly increasing from HKD 6,610,000, marking a growth of 161.5%[15] - The group's total revenue for the year ended December 31, 2024, was HKD 247,040,000, an increase of 16.6% from HKD 211,795,000 in 2023[15] - The group's total revenue for the year ended December 31, 2024, was approximately HKD 247,040,000, an increase of about HKD 35,245,000 or 16.64% compared to the same period in 2023, driven by growth in SMT and semiconductor equipment manufacturing and energy business revenues[29] - Revenue from SMT and semiconductor equipment and related businesses was approximately HKD 229,776,000, representing a year-on-year increase of about HKD 24,591,000 or 11.98%, with a segment gross profit of approximately HKD 95,215,000, up 14.51% from HKD 83,151,000 in 2023[30] Assets and Liabilities - Total assets decreased to HKD 923,846,000 from HKD 960,502,000, a decline of approximately 3.8%[5] - The total assets of the group as of December 31, 2024, amounted to HKD 923,846,000, compared to HKD 960,502,000 in the previous year[17][18] - The total liabilities for the group were HKD 738,925,000, an increase from HKD 706,925,000 in 2023[17][18] - Non-current liabilities decreased to HKD 350,277,000 from HKD 378,175,000, a reduction of approximately 7.4%[6] - The company's cash and cash equivalents increased to HKD 205,301,000 from HKD 183,169,000, representing a growth of about 12.1%[5] - The company's current assets were approximately HKD 422,449,000, with a current ratio of about 108.7%, indicating sufficient liquidity for operational needs[50] - The company's net assets attributable to shareholders decreased by approximately 13.61% to HKD 226,126,000, primarily due to the annual loss[54] Operational Changes - The company has ceased operations in the advanced domestic radar hardware manufacturing and intelligent software development business[7] - The company continues to focus on surface mount technology (SMT) equipment manufacturing and energy business in China[7] - The company is seeking to sell certain assets related to its radar business, with assets classified as held for sale valued at HKD 2,127,000 in 2024 compared to HKD 4,576,000 in 2023[27] - The company's operating expenses decreased by 6.51% year-on-year to approximately HKD 90,973,000, mainly due to the termination of the radar business[45] Market and Industry Insights - The domestic smartphone shipment volume in China reached approximately 286 million units in 2024, reflecting a year-on-year growth of 5.6%[32] - The total number of public charging piles in China increased, with an average of about 71,000 new public charging piles added monthly in 2024, and total charging electricity reached approximately 5.91 billion kWh, a year-on-year increase of 55.2%[33] - By the end of 2024, the total number of mobile phone base stations in China reached 12.65 million, with a penetration rate of 33.6%[34] - The global semiconductor sales grew by 19.1% in 2024, reaching a historical high, with expectations for continued double-digit growth driven by memory and AI semiconductors[34] - The PCB industry is expected to play a crucial role in the electronic manufacturing sector, with the SMT machine market size projected to reach approximately RMB 36.64 billion in 2024, up from RMB 32.81 billion in 2023[35] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year[63] - The audit committee has been established to review and monitor the company's internal controls and financial reporting matters[64] - The company confirms that its securities have sufficient public float as required by the listing rules[67] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024[61] - The company did not declare or recommend any dividends for the year ended December 31, 2024, consistent with 2023[24] Future Outlook - The company expects that the newly adopted and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements[13] - The group anticipates continued growth in the Chinese market, excluding Hong Kong, with revenue reaching HKD 238,133,000, up from HKD 207,811,000[15] - Forward-looking statements regarding the company's business prospects are subject to various factors that may cause actual results to differ significantly[69]
芯成科技(00365) - 2024 - 年度业绩