Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 479,317,000, a decrease of 2.4% compared to HKD 491,597,000 for the previous year[2] - The gross profit for the fiscal year 2024 was HKD 123,601,000, down from HKD 131,755,000 in 2023, representing a decline of 6.2%[2] - The operating expenses increased to HKD 99,076,000 in 2024 from HKD 85,599,000 in 2023, marking an increase of 15.7%[2] - The net profit from continuing operations for the fiscal year 2024 was HKD 6,457,000, compared to HKD 4,881,000 in 2023, reflecting a growth of 32.3%[3] - The company reported a basic earnings per share of HKD 3.87 for continuing operations, up from HKD 3.06 in the previous year, indicating an increase of 26.5%[3] - The company reported a net profit of HKD 6,328,000 for the year ending December 31, 2024, compared to HKD 5,165,000 in 2023, representing a year-over-year increase of approximately 22.5%[4] - Total comprehensive income for the year was HKD (5,267,000), a significant increase from HKD (2,985,000) in the previous year, indicating a worsening in comprehensive income[4] Revenue Breakdown - Revenue from external customers for the year ended December 31, 2024, was HKD 479,317,000, compared to HKD 491,597,000 for the year ended December 31, 2023, reflecting a slight decrease[19] - The revenue from electronic manufacturing services was HKD 455,081,000 for the year ended December 31, 2024, compared to HKD 444,171,000 for the previous year, indicating an increase[19] - Revenue from major customer A was HKD 230,641,000 in 2024, slightly down from HKD 235,380,000 in 2023, indicating a decline of about 2.9%[21] - Revenue from the United States market increased from HKD 99,263,000 in 2023 to HKD 112,459,000 in 2024, reflecting a growth of approximately 13.3%[22] - Revenue from the Chinese market (including Hong Kong) decreased from HKD 84,928,000 in 2023 to HKD 56,729,000 in 2024, a decline of about 33.2%[22] - Revenue from Thailand increased significantly from HKD 13,034,000 in 2023 to HKD 27,103,000 in 2024, representing a growth of approximately 108.5%[22] - Revenue from Switzerland decreased from HKD 62,894,000 in 2023 to HKD 55,882,000 in 2024, a decline of about 11.1%[22] Expenses and Costs - Research and development expenses for the fiscal year 2024 were HKD 12,835,000, slightly down from HKD 13,092,000 in 2023, a decrease of 2.0%[2] - The total cost of sales for 2024 was HKD 355,716,000, a minor decrease from HKD 359,842,000 in 2023, reflecting a reduction of 1.6%[2] - Selling and distribution expenses were HKD 38,400,000, representing about 8.0% of total revenue, up from 7.4% in 2023[52] - Administrative expenses rose to HKD 99,100,000, accounting for 20.7% of total revenue, compared to 17.4% in 2023[53] Assets and Liabilities - The company's total assets reached HKD 880,137,000 in 2024, up from HKD 776,418,000 in 2023, reflecting a growth of about 13.4%[5] - Current assets increased to HKD 801,491,000 in 2024, compared to HKD 705,931,000 in 2023, marking a rise of approximately 13.5%[5] - Non-current assets totaled HKD 70,487,000 in 2024, down from HKD 78,646,000 in 2023, indicating a decrease of about 10.3%[5] - Total liabilities amounted to HKD 391,412,000 in 2024, an increase from HKD 239,533,000 in 2023, representing a rise of about 63.4%[9] - The company's equity attributable to shareholders was HKD 486,663,000 in 2024, compared to HKD 536,531,000 in 2023, showing a decline of approximately 9.3%[7] Strategic Initiatives - The company plans to expand its market presence and invest in new technologies to drive future growth[2] - The company has indicated a focus on strategic acquisitions to enhance its competitive position in the market[2] - The company is focusing on technological innovation and optimizing business models to capture opportunities in the energy storage market driven by policy and market demand[70] - The company is closely monitoring market conditions and will adjust its business development strategies as necessary in response to global economic challenges[71] - The company aims to achieve a revenue growth target of 15% year-over-year in the upcoming fiscal year[87] Governance and Compliance - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants[10] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which may impact future financial reporting[12] - The audit committee consists of three independent non-executive directors and is responsible for overseeing the financial reporting process and internal controls[83] - The company has complied with the corporate governance code, except for deviations noted in specific rules regarding the separation of roles between the chairman and CEO[79][80] Future Outlook - Future outlook indicates a focus on expanding market presence and enhancing product offerings to drive growth[87] - The company is investing in new product development and technological advancements to stay competitive in the industry[87] - Ongoing research and development efforts are expected to yield new innovations within the next 12 months[87] - User engagement metrics have improved by 20%, indicating a positive trend in customer satisfaction[87]
中国储能科技发展(01143) - 2024 - 年度业绩