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信利国际(00732) - 2024 - 年度财报
TRULY INT'LTRULY INT'L(HK:00732)2025-04-16 08:49

Financial Performance - Revenue for the year ended December 31, 2024, was HK$17,840,169, representing a 14.4% increase from HK$15,588,143 in 2023[8]. - Gross profit increased by 4.8% to HK$1,386,233 in 2024, compared to HK$1,322,293 in 2023[8]. - Profit attributable to owners of the Company rose by 14.9% to HK$302,085 in 2024 from HK$262,799 in 2023[8]. - EBITDA decreased by 3.9% to HK$1,976,817 in 2024, down from HK$2,057,669 in 2023[8]. - Basic earnings per share (EPS) increased by 15.0% to 9.56 HK cents in 2024, compared to 8.31 HK cents in 2023[8]. - The gross profit margin for the year decreased to approximately 7.8% in 2024 from 8.5% in 2023, primarily due to increased revenue from lower-margin smartphone products[36]. - The Group recorded a revenue increase of 14.4% to approximately HK$17.84 billion for the year ended December 31, 2024, compared to HK$15.59 billion in 2023[39]. - Profit attributable to shareholders increased by approximately 14.9% to about HK$302 million for the year, up from HK$263 million in 2023[39]. - Basic earnings per share rose from HK$0.0831 in 2023 to HK$0.0956 in 2024[39]. Revenue Breakdown - Revenue from LCD products accounted for 86% of total turnover in 2023, while electronic consumer products made up 14%[19]. - In 2024, the geographical revenue breakdown showed 64% from China, 10% from South Korea, and 8% from Europe[16]. - The Group's LCD business, including touch products, accounted for 70% of total revenue in 2024, down from 86% in 2023[37]. - Other businesses, including compact camera modules and fingerprint identification products, accounted for 30% of total revenue in 2024, up from 14% in 2023[37]. - External sales of LCD products amounted to HK$12.54 billion, while electronic consumer products generated HK$5.30 billion in revenue for 2024[46]. - Revenue from external customers in the People's Republic of China was HK$11.63 billion in 2024, an increase from HK$10.04 billion in 2023[52]. Dividends - The final dividend proposed is 5 HK cents per share, unchanged from 2023, pending shareholder approval[9]. - The interim dividend paid for 2024 is HKD 0.05 per share, consistent with 2023[108]. - The proposed final dividend is also HKD 0.05 per share, pending shareholder approval[108]. - The total dividend payout ratio for the year was about 105%[102]. Research and Development - The Group invested approximately HK$680 million in research and development in 2024, compared to HK$658 million in 2023[37]. Management and Governance - The management is optimistic about achieving steady growth in 2025 despite uncertainties in the global economic environment[27]. - The management maintains a cautiously optimistic outlook for 2025, anticipating moderate growth compared to 2024[56]. - The Company has a strong board of directors with extensive experience in finance, audit, and corporate governance[152]. - The independent non-executive directors are actively involved in the Group's Audit, Remuneration, and Nomination Committees, ensuring robust oversight[129]. - The Company has established a Remuneration Committee and a Nomination Committee in accordance with the Corporate Governance Code[188]. - The Board is committed to maintaining high standards of corporate governance to safeguard shareholder interests[189]. Assets and Liabilities - The Group's assets increased by approximately HK$244 million, while liabilities increased by approximately HK$712 million during the year[88]. - As of December 31, 2024, the Group had net current liabilities of approximately HK$5.67 billion, up from approximately HK$4.13 billion as of December 31, 2023, with a current ratio decreasing to 0.62 times[90]. - The gearing ratio based on total interest-bearing debts, net of restricted bank deposits, cash, and bank balances was approximately 56%, up from 55% at December 31, 2023[91]. Employee and Staff Costs - Total staff costs for 2024 were approximately HK$1.74 billion, with around 14,800 workers and staff employed in the PRC factories[96]. - The total employee cost for 2024 is approximately HKD 1.741 billion[104]. Other Financial Information - Other income for the Year was approximately HK$223 million, an increase of approximately 103.8% or approximately HK$114 million compared to 2023, mainly due to government subsidies received[61]. - Administrative expenses increased by approximately 2.7% or approximately HK$12 million to approximately HK$461 million compared to 2023, primarily due to increased salaries and allowances[70]. - Finance costs decreased by approximately 2.4% or approximately HK$9 million to approximately HK$380 million compared to 2023, mainly due to reduced interest expenses for lease liabilities[71]. - The Group's net other losses for the Year were approximately HK$87 million, an increase from approximately HK$18 million in 2023, primarily due to higher losses on disposal of obsolete machinery[62]. - The reversal of expected credit loss model was approximately HK$11 million, an increase from approximately HK$2 million in 2023, due to recovery of certain credit-impaired financial assets[63]. - Distribution and selling expenses decreased by approximately 0.3% or approximately HK$1 million to approximately HK$320 million compared to 2023, attributed to tight cost control[64]. Corporate Actions - The Proposed Spin-off will not proceed at this stage as per the adjusted business development strategies[57]. - The Company has not adopted any share option scheme or other share scheme during the year[163]. - The Company has not purchased, redeemed, or sold any of its listed securities during the year ended December 31, 2024[178]. - There are no significant contingent liabilities as of December 31, 2024[106]. - The Company confirmed compliance with the disclosure requirements of the Listing Rules[175].