Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was HKD 784.65 million, a decrease of HKD 49.33 million or 5.9% compared to 2023[17]. - The group's profit before tax for 2024 was HKD 233.27 million, down HKD 45.76 million or 16.4% from 2023[18]. - Shareholders' profit for 2024 was HKD 205.22 million, a decline of HKD 32.43 million or 13.6% compared to 2023, with basic and diluted earnings per share at HKD 0.2210[19]. - The EBITDA margin for 2024 was 76.8%, down from 80.2% in 2023 and 81.0% in 2022[12]. - In 2024, the company's revenue was HKD 784,650,000, a decrease of HKD 49,325,000 or 5.9% compared to 2023's revenue of HKD 833,975,000[39]. - The company's net profit attributable to shareholders for 2024 was HKD 205,221,000, down from HKD 237,654,000 in 2023[39]. - Gross profit declined by 20.1% to HKD 284,129,000 from HKD 355,565,000 year-over-year[52]. - The pre-tax profit decreased by 16.4% to HKD 233,265,000, down from HKD 279,021,000 in the previous year[52]. - The EBITDA for the year was HKD 602,477,000, representing a 9.9% decrease from HKD 668,880,000 in 2023[52]. - Other net income increased by 26.4% to HKD 111,811,000, primarily due to increased interest income from bank deposits[58]. Dividends - The company declared an interim cash dividend of HKD 0.045 per share and proposed a final cash dividend of HKD 0.065 per share for the fiscal year 2024[20]. - The board of directors will propose the final dividend at the annual general meeting scheduled for May 23, 2025[20]. - The company has adopted a dividend policy based on financial condition, business outlook, future income, cash flow, and other specified factors[136]. Satellite Operations - The satellite fleet includes APT 5C, APT 6C, APT 7, APT 9, APT 6D, and APT 6E, providing coverage to over 75% of the global population[22]. - APT 5C satellite, in partnership with Telesat Canada, is equipped with 63 transponders and provides enhanced broadband services in Southeast Asia[23]. - APT 6D satellite is the first high-throughput satellite optimized for mobile services, offering quality broadband satellite services across China and the Asia-Pacific region[27]. - The company continues to maintain a strong operational status of its satellite systems, ensuring reliable service for its customers[21]. - The company plans to expand its traditional satellite resource leasing business while leveraging high-throughput satellites to provide quality broadband services[34]. Financial Position - The company maintained a strong cash position with approximately HKD 2,448,394,000 in cash and bank deposits as of December 31, 2024[40]. - The total cash and bank balance increased by 14.0% to HKD 2,448,394,000 from HKD 2,148,555,000[54]. - The total liabilities decreased by 12.7% to HKD 877,443,000 from HKD 1,004,523,000[54]. - The company maintains a healthy financial position with sufficient internal funds and cash inflows from transponder leasing services to meet any financial obligations[48]. - The company has secured financing agreements totaling up to 85,600,000 USD (approximately 667,680,000 HKD) with Bank of China (Hong Kong) for its subsidiary, with no outstanding principal balance as of December 31, 2024[68]. Corporate Governance - The company continues to uphold high standards of corporate governance and internal controls to ensure compliance and ethical conduct[35]. - The board has established audit and risk management committees to ensure high standards of corporate governance[86]. - The company has complied with the corporate governance code throughout the year, with minor exceptions noted[87]. - The board consists of two executive directors, six non-executive directors, and four independent non-executive directors[89]. - The company emphasizes continuous review and adjustment of its business strategies to adapt to changing market conditions[84]. Risk Management - The company has established a risk management system aimed at managing risks to achieve business objectives[120]. - The board is responsible for ensuring robust internal controls and risk management to protect shareholder investments[120]. - The Audit and Risk Management Committee is tasked with monitoring the independence and objectivity of the external auditor[119]. - The internal control and risk management committee conducted an annual review of the effectiveness of the internal control system and risk management for the year ending December 31, 2024[125]. - The company has established a whistleblower protection policy to handle complaints regarding suspected fraud and unethical behavior, ensuring confidentiality of whistleblower identities[129]. Environmental, Social, and Governance (ESG) - The company has established a comprehensive ESG strategy, focusing on environmental protection, social responsibility, and corporate governance[139]. - The company has identified 37 key ESG issues through stakeholder consultation, prioritizing them based on their significance to both the business and stakeholders[155]. - The report covers the company's performance in environmental and social responsibilities from January 1, 2024, to December 31, 2024[150]. - The company has made progress in waste management and radiation emissions control at its satellite ground stations[140]. - The company aims to reduce greenhouse gas emissions from operations, with a focus on minimizing indirect emissions from purchased electricity and business travel[196]. Employee and Workplace - The company employed a total of 122 employees as of December 31, 2024, an increase from 108 in 2023, representing a growth of 12.96%[165]. - The employee turnover rate decreased to 10.0% in 2024 from 19.0% in 2023, indicating improved employee retention[166]. - The company provides competitive compensation packages, including medical insurance and performance bonuses, to retain top talent[161]. - The company emphasizes a diverse and inclusive workforce, hiring without discrimination based on gender, race, nationality, or religion[161]. - The company conducted regular fire drills and safety training to enhance workplace safety awareness among employees[169]. Training and Development - In 2024, 101 employees received training, representing 82.8% of the total workforce, compared to 93.5% in 2023[174]. - The average training hours per employee decreased from 14.6 hours in 2023 to 12.8 hours in 2024[176]. - The company emphasizes continuous professional development for directors, with training participation reported for various governance and anti-corruption programs[102]. - The management level employees received an average of 11.8 training hours in 2024, compared to 11.3 hours in 2023[176]. Community Engagement - The company actively participates in community activities and invests in social responsibility initiatives without utilizing financial resources this year[189]. - Stakeholder engagement is maintained through various communication channels, including press releases and annual reports[153].
亚太卫星(01045) - 2024 - 年度财报