Financial Performance - The Group's overall revenue decreased by 7.1% year-on-year to HK$247.6 million in 2024, down from HK$266.6 million in 2023[24]. - Profit from operations dropped by 13.9% to HK$67.4 million in 2024, compared to HK$78.2 million in 2023[24]. - Total costs were reduced by 4.3% to HK$180.2 million in 2024, down from HK$188.4 million in 2023[24]. - Profit before tax decreased to HK$89.3 million in 2024, down from HK$111.1 million in 2023[25]. - Profit after tax fell by 18.6% to HK$82.0 million in 2024, compared to HK$100.6 million in 2023[25]. - The net gain from other income decreased by 33.4% to HK$21.4 million in 2024, down from HK$32.2 million in 2023[25]. - Basic earnings per share increased to 12.7 HK cents in 2024, up from 10.3 HK cents in 2023[10]. - Proposed final dividend per share is 6.3 HK cents for 2024, compared to 6.4 HK cents in 2023[10]. - The net profit margin improved to 37.7% in 2024, up from 33.1% in 2023[10]. - The effective tax rate increased to 9.4% in 2024, compared to 8.2% in 2023[10]. Segment Performance - E-Commerce segment revenue increased by 4.9% to HK$171.7 million, with segment profit rising by 9.5% to HK$55.0 million[28]. - IDM segment turnover decreased by 33.5% to HK$45.8 million, with segment profit down by 79.5% to HK$3.3 million[28]. - Other Services segment recorded an 11.5% decrease in turnover to HK$30.1 million and a 10.9% decrease in segment profit to HK$18.4 million[28]. - The E-Commerce segment's total revenue increased by 4.9% year-on-year to HK$171.7 million in 2024, reversing a downward trend from the previous two years[46]. - The segment profit rose by 9.5% year-on-year to HK$55.0 million in 2024, compared to HK$50.2 million in 2023[48]. - GETS transaction volume increased by 7.2% year-on-year, with revenue from the GETS business growing by 6.0% to HK$150.3 million in 2024[49]. - The average price of trade declaration services saw a slight decline, but higher contract renewal prices and increased business volume helped maintain revenue levels[50]. - The SCS sub-segment's turnover dropped by 2.3% to HK$21.4 million in 2024, impacted by a volatile external trade environment and sluggish domestic consumption[50]. Future Outlook - The macroeconomic environment in 2025 is expected to remain challenging, with high interest rates likely persisting longer than anticipated[32]. - E-Commerce's GETS sub-segment is projected to see a small but positive single-digit growth in 2025, linked to Hong Kong's external trade volume[33]. - IDM business is expected to rebound in 2025, with new opportunities for digital certificates and eKYC projects[36]. - Smart PoS and related business face downward pressure on maintenance fees due to mild local consumption recovery[37]. - Ongoing revenue-generating partnerships, such as with PAO Bank Limited, are expected to support the GETS-related services business[37]. - The company is cautiously optimistic about E-Commerce business performance in 2025, expecting resilience in the GETS business despite external challenges[51]. - The company is optimistic about IDM business regaining positive growth in 2025, with new digital identity services and remote signing services gaining market traction[59]. Corporate Governance - The Company is committed to high standards of corporate governance and has confirmed compliance with all applicable Code Provisions during the year ended December 31, 2024[139]. - The Company has established adequate resources and training for its accounting, internal audit, and financial reporting functions[169]. - The Company has implemented a comprehensive Whistleblowing Policy to encourage employees and external parties to report misconduct confidentially[174]. - An Anti-Corruption Policy has been established to strengthen anti-corruption initiatives, applicable to all Directors and employees[176]. - The Board of Directors consists of two Executive Directors, three Non-executive Directors, and four Independent Non-executive Directors, with Independent Directors representing at least one-third of the Board[182]. - Major responsibilities of the Board include determining overall business strategies, setting key performance targets, and supervising management performance to enhance shareholder value[187]. - The Company has a policy in place to ensure that all employees and Directors refrain from trading Company securities while in possession of unpublished inside information[178]. - The diversity profile of the Board includes a mix of genders and age groups, promoting inclusivity in governance[188]. Risk Management - The company is committed to enhancing its risk management framework and culture to achieve business objectives[151]. - Appropriate risk management activities are integrated into business planning, project management, and operations[151]. - The company acknowledges its overall responsibility for risk management and internal control systems to safeguard shareholders' investments[156]. - The Board reviews the effectiveness of risk management systems annually, covering financial, operational, and compliance controls[156]. - The risk management system framework is designed based on ISO31000, integrating risk management activities into business planning and operations[157]. - The risk management process includes six steps: establishing scope, risk assessment, risk treatment, monitoring, recording, and communication[158]. - The internal auditor conducted reviews of the risk management and internal control systems, confirming compliance with relevant codes during the year[165]. - The Board considers the risk management and internal control systems to be adequate and effective for the reporting year, with no significant control failings identified[167].
贸易通(00536) - 2024 - 年度财报