Financial Performance - Revenue increased by 6.1% to HKD 3,824,300,000 compared to HKD 3,604,400,000 in the previous year[2] - Gross profit rose by 43.1% to HKD 422,400,000 from HKD 295,200,000 in the previous year[2] - Net profit attributable to ordinary shareholders was HKD 28,200,000, a significant recovery from a net loss of HKD 132,900,000 in the previous year[2] - Proposed final dividend of HKD 0.007 per share, compared to no dividend in the previous year[2] - Basic and diluted earnings per share improved to HKD 0.032 from a loss of HKD 0.153 in the previous year[3] - Total comprehensive income for the year amounted to HKD 70,500,000, compared to a loss of HKD 259,573,000 in the previous year[4] - The group reported a profit before tax of HKD 41,469,000 for the fiscal year ending December 31, 2024, compared to a loss before tax of HKD 124,990,000 for the fiscal year ending December 31, 2023[14][15] - The group reported a net profit of HKD 28,495,000 for the fiscal year ending December 31, 2024, compared to a net loss of HKD 134,771,000 for the fiscal year ending December 31, 2023[14][15] - Total revenue for 2024 reached HKD 3,824,324,000, an increase of 6.1% from HKD 3,604,357,000 in 2023[16] Assets and Liabilities - Non-current assets decreased to HKD 1,266,432,000 from HKD 1,282,225,000 in the previous year[5] - Current assets decreased to HKD 2,169,299,000 from HKD 2,497,861,000 in the previous year[5] - Total liabilities decreased to HKD 1,485,664,000 from HKD 1,733,466,000 in the previous year[6] - Net asset value increased to HKD 1,721,906,000 from HKD 1,650,451,000 in the previous year[6] - The total assets as of December 31, 2024, were HKD 3,435,731,000, while total liabilities were HKD 1,713,825,000[14] - The group's total liabilities as of December 31, 2023, were HKD 2,129,635,000, with total assets of HKD 3,780,086,000[15] - The company's accounts receivable increased to HKD 344,948,000 in 2024 from HKD 326,263,000 in 2023, with a net value of HKD 338,683,000 after impairment[28] - The total accounts payable decreased to HKD 607,894,000 in 2024 from HKD 678,829,000 in 2023, with accounts payable due within three months amounting to HKD 513,855,000[29] Revenue Segmentation - The total revenue for the fiscal year ending December 31, 2024, was HKD 3,824,324,000, with external customer revenue from the fabric segment at HKD 3,038,178,000 and the garment segment at HKD 786,146,000[14] - Revenue from the fabric segment to a single major customer amounted to HKD 681,762,000 in 2024, up from HKD 517,301,000 in 2023, representing a growth of 31.7%[18] - Revenue from the production and sale of knitted fabrics and related processing services was HKD 3,038,178,000 in 2024, compared to HKD 2,944,793,000 in 2023, reflecting an increase of 3.2%[19] - Revenue from the Singapore market increased significantly to HKD 437,161,000 in 2024, up from HKD 257,168,000 in 2023, representing a growth of 70%[16] - The company’s revenue from the Korean market was HKD 1,620,700,000 in 2024, an increase of 13.3% from HKD 1,430,276,000 in 2023[16] - The textile business accounted for approximately 79.4% of total revenue, while the apparel business contributed about 20.6%[33] Operational Developments - The company plans to expand its market presence and invest in new product development to drive future growth[19] - The group’s textile and garment orders significantly increased, with the production schedule for Q1 2025 fully booked[37] - The group anticipates that its integrated facilities in Vietnam will contribute no less than 25% to its total textile output in the long term[37] - The company has established a strategic partnership with TPT in Vietnam to enhance production capabilities and meet the growing demand for diversified supply chain solutions[33] Capital Expenditures and Investments - Capital expenditures for the fiscal year ending December 31, 2024, amounted to HKD 91,637,000, compared to HKD 170,408,000 for the fiscal year ending December 31, 2023[14][15] - Capital expenditures for the year were approximately HKD 91,600,000, a decrease from HKD 170,400,000 in 2023, with 83.2% allocated for purchasing plants and machinery[52] - The group has agreed to acquire 100% of KTD for a cash consideration of USD 4,347,894 (approximately HKD 33,913,000) and USD 6,407,597 (approximately HKD 49,979,000) for settling debts, with the acquisition pending completion[59] - The company plans to acquire 100% of Korea Textile & Dyeing Support Joint Stock Company for a total cash consideration of approximately HKD 83,892,000, enhancing its manufacturing capacity in Southeast Asia[34] - The company recorded a gain of approximately HKD 32,598,000 from the sale of a subsidiary in Vietnam, which will be used to fund the acquisition of KTD and integrate its operations[35] Financial Management - Financing costs decreased by approximately 45.1% to about HKD 57,600,000, down from HKD 104,700,000 in 2023, primarily due to a reduction in average bank borrowings[40] - The group maintained a prudent treasury policy to mitigate financial risks related to interest and exchange rate fluctuations[60] - The group did not engage in any equity fundraising activities during the year[61] - There were no significant investments held that accounted for 5% or more of the group's total assets as of December 31, 2024[57] Corporate Governance - The board proposed a final dividend of HKD 0.007 per ordinary share, compared to no dividend in 2023, pending shareholder approval[49] - The board expresses gratitude to management, employees, business partners, customers, and shareholders for their continued support throughout the year[71] - The board of directors includes executive directors Mr. Dai Jin Chun, Mr. Dai Jin Wen, Ms. Zhang Su Yun, and Ms. Huang Shao Yu, along with non-executive and independent directors[72] - The announcement is made under the authority of the chairman, Mr. Dai Jin Chun, on March 31, 2025[73] Employment and Workforce - The group employed 3,638 staff in China as of December 31, 2024, a decrease from 3,806 in 2023, while employment in Cambodia increased to 3,356 from 2,734[54] Market Performance - Sales from the five major regions (South Korea, Mainland China, Singapore, Hong Kong, and Taiwan) accounted for approximately 82.3% of total sales, up from 77.1% in 2023, with South Korea representing 42.4% of total sales[55]
锦兴国际控股(02307) - 2024 - 年度业绩