港通控股(00032) - 2024 - 年度财报

Financial Performance - The group's profit attributable to shareholders for the year ended December 31, 2024, was HKD 434.5 million, a decrease of 16.4% compared to HKD 520.0 million in 2023[6]. - Earnings per share decreased to HKD 1.17 from HKD 1.40 in 2023[6]. - The total dividend for the year is HKD 0.42 per share, consistent with 2023, amounting to approximately HKD 156.5 million[7]. - The company's net profit attributable to shareholders for the year ended December 31, 2024, was HKD 434.5 million, a decrease from HKD 520.0 million in 2023, primarily due to the termination of tunnel operations which contributed HKD 295.9 million in profit in 2023[32]. - Total revenue for the year increased by 11.6% to HKD 976.6 million, compared to HKD 875.2 million in 2023, driven by a rise in driving school revenue to HKD 818.5 million from HKD 707.9 million[32]. - The financial management business recorded a net profit of HKD 349.0 million, significantly improved from the previous year, with fair value gains on financial assets amounting to HKD 245.8 million, up from HKD 98.0 million in 2023[33]. Market and Economic Conditions - Hong Kong's GDP grew by 2.6% year-on-year in the first three quarters, with exports increasing by about 10%[8]. - The Hang Seng Index rose by 17.7% in 2024, with average daily turnover increasing by 25.5% to HKD 131.8 billion[8]. - The driving training market is expected to shrink in 2025, with a continued decrease in new drivers[12]. Business Strategy and Operations - The company plans to enhance customer service and training quality in its driving schools to maintain market leadership[12]. - Revenue and profit contributions from the Easy Toll service are expected to increase in 2025, offsetting declines from electronic road pricing[13]. - The company aims to advance smart city initiatives in Hong Kong through expertise in engineering, ICT, IoT, and electronic payment systems[14]. - The group plans to continue a prudent long-term growth strategy while remaining vigilant to future challenges and their impact on performance[18]. Investment and Financial Management - The group's investment portfolio value increased slightly to HKD 5,018.8 million in 2024, up from HKD 4,926.2 million in 2023, reflecting a diversified investment strategy[17]. - The group's investment strategy includes a focus on non-listed funds, equity securities, and debt securities, aiming for diversified investment opportunities[15]. - The group's interest income from banks increased during the year, although overall investment income saw a slight decline due to no further income from debt securities[16]. - The total amount of new financial assets added during the year was HKD 638.1 million, including investments in 34 non-listed funds totaling HKD 375.2 million and 14 listed equity securities totaling HKD 262.9 million[40]. - The total amount of financial assets sold and distributed during the year was HKD 793.0 million, including divestments from 24 non-listed funds totaling HKD 554.3 million and 10 listed equity securities totaling HKD 238.7 million[41]. Employee and Workplace Management - The employee turnover rate decreased to 11.7% in 2024 from 13.8% in 2023, indicating improved employee retention efforts[26]. - The total employee cost for the year was HKD 427.4 million, an increase from HKD 390.6 million in 2023[51]. - The company recognizes employees as its most valuable asset and provides comprehensive compensation and benefits[200]. - The company conducts annual reviews and adjustments of salaries to ensure alignment with performance and shareholder interests[200]. - The company ensures a safe and healthy workplace for all employees[200]. Corporate Governance - The board is committed to maintaining high corporate governance standards to protect shareholder interests and enhance corporate value[68]. - The board consists of nine members, including the chairman Zhang Songqiao and managing director Yang Xianzhong, ensuring a diverse composition[72]. - The independent non-executive directors have confirmed no significant interests or relationships that could impair their independent judgment[73]. - The company emphasizes the importance of effective risk management and internal control systems as part of its governance framework[68]. - The board conducts annual reviews of corporate governance policies and practices, ensuring compliance with legal and regulatory requirements[67]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the company's environmental, social, and governance (ESG) performance for the year ending December 31, 2024, in accordance with the Main Board Listing Rules[147]. - The company has adopted a comprehensive Corporate Social Responsibility policy focusing on workplace, operational practices, community, and environment[149]. - The company has established a dedicated team to identify climate impacts and solutions, focusing on reducing greenhouse gas emissions[152]. - The company aims to accelerate low-carbon transformation in response to the government's climate action plan for carbon neutrality by 2050[152]. - The company has set new greenhouse gas emission targets as part of its operational decarbonization roadmap[152]. Risk Management - The company faces various risks including strategic risks from poor decision-making and market changes, which are regularly reviewed by the executive committee[52]. - The financial management business is exposed to price fluctuations of listed and unlisted equity investments, influenced by global economic and geopolitical risks[53]. - The company is committed to enhancing risk monitoring and management mechanisms across all business segments[55]. - The board is responsible for maintaining an effective risk management and internal control system to protect shareholder investments[120]. - The internal audit function provides three reports annually on identified major risk areas to the audit committee[121].