Business Strategy and Market Position - The company aims to become a leading financial investor in the region, with a focus on providing high-quality financial products to achieve stable profits[3]. - The company is committed to becoming a top supplier for garment operators in the export business, enhancing its market position[3]. - The retail business aims to lead the clothing retail market in its region, focusing on customer satisfaction and shareholder returns[3]. - The company is focused on sustainable growth and aims to achieve social benefits alongside its partners[3]. - The company plans to expand its market presence in Australia and New Zealand, contributing HKD 8.3 million to the overall revenue in 2024[86]. - The company is focusing on new product development and technology innovation to enhance its competitive edge in the market[87]. - Future guidance indicates a continued growth trajectory with expectations of revenue growth of approximately 15% year-over-year for 2024[87]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its business portfolio[87]. Financial Performance - The company's total revenue for the year reached HKD 910,170,000, representing a growth of 10.83% compared to the previous year[34]. - Profit attributable to equity holders increased by 40.75% to HKD 61,380,000[34]. - Basic earnings per share rose by 41.96% to HKD 4.06[35]. - The company reported a significant increase in financial investment revenue, up 291.00% to HKD 194,385,000[35]. - The proposed final dividend is HKD 0.058 per share, an increase of 20.83% from HKD 0.048 per share last year[36]. - The company continues to focus on high-quality development and effectivity, concentrating resources on the most beneficial and promising businesses[33]. - The company has consistently opted for voluntary dissolution as a method to exit non-performing business segments[24][25][27]. - The operating profit margin improved to 11.18% in 2024 from 6.31% in 2023, indicating enhanced operational efficiency[76]. Corporate Governance - The company has adopted the corporate governance code principles as per the Hong Kong Stock Exchange Listing Rules for the fiscal year ending December 31, 2024[97]. - The board consists of nine members, with five executive directors and four independent non-executive directors, ensuring compliance with the requirement of at least three independent non-executive directors[105]. - The company has maintained a gender diversity policy within the board, with two female executive directors among the nine members[105]. - The board has established mechanisms to ensure independent viewpoints are communicated effectively, which were reviewed and deemed effective during the fiscal year[106]. - The company has confirmed that all independent non-executive directors meet the independence criteria as per the Listing Rules[104]. - The board is committed to appointing at least three independent non-executive directors, with at least one-third of the board being independent[107]. - The company has a clear separation of roles between the chairman and the CEO, enhancing governance and operational oversight[101]. - The company has implemented a code of conduct for securities trading by directors, ensuring compliance with the established standards[126]. Shareholder Information - The company plans to hold its annual general meeting on May 19, 2025, to discuss financial statements and declare dividends for the year ending December 31, 2024[9][10]. - The company will seek approval for the appointment of new executive directors and independent non-executive directors during the annual general meeting[10]. - The company intends to authorize the board to determine the remuneration of directors and auditors, ensuring proper governance[10]. - The company will suspend share registration from May 14, 2025, to May 19, 2025, to determine eligibility for the upcoming annual general meeting[19]. - The company will also suspend share registration from May 23, 2025, to May 27, 2025, for the distribution of the proposed final dividend[19]. - The proposed final dividend for the year ending December 31, 2024, is HKD 5.80 per share, an increase from HKD 4.80 in 2023, with a total dividend amounting to approximately HKD 147,555,000, representing 240.40% of the profit attributable to equity holders[54]. Risk Management and Internal Controls - The company has adopted a risk management and internal control system that is reviewed at least annually, covering financial, operational, and compliance areas[132]. - The board confirmed that there were no significant deficiencies found in the risk management and internal control system during the review period[139]. - The internal audit department plays a crucial role in reviewing and assessing the effectiveness of the risk management and internal control system, following the COSO control framework[138]. - The company has established a whistleblowing policy to allow employees and third parties to report concerns confidentially and anonymously[140]. - The company has adopted an anti-corruption policy outlining guidelines and personal responsibilities regarding anti-corruption and bribery prevention[141]. Share Repurchase and Capital Management - The company authorized the purchase of shares in China Construction Bank and Industrial and Commercial Bank of China, with a total amount not exceeding HKD 400 million each, excluding stamp duty and related costs[6]. - The company repurchased a total of 13,332,000 shares during the year, with a total cost of approximately HKD 12,958,000[8]. - The highest repurchase price per share was HKD 1.24, while the lowest was HKD 0.82[9]. - The company has maintained at least 25% of its issued shares held by the public as of the report date[7]. Audit and Compliance - The auditor for the financial statements for the year ending December 31, 2024, is Ernst & Young, with no change in auditors over the past three years[11]. - The consolidated financial statements reflect the group's financial position as of December 31, 2024, and its performance for the year ended on that date[198]. - The audit was conducted in accordance with the Hong Kong Financial Reporting Standards, ensuring a true and fair view of the financial statements[198]. - Key audit matters were identified based on professional judgment, highlighting the most significant issues during the audit process[200].
旭日企业(00393) - 2024 - 年度财报