Financial Performance - The company's revenue for the year ended December 31, 2024, increased by 24.1% to HKD 27,757 million, compared to HKD 22,371 million in 2023[11] - The profit attributable to shareholders rose by 24.1% to HKD 501.2 million, up from HKD 403.8 million in the previous year[11] - Basic earnings per share increased to HKD 80.09 from HKD 64.52, reflecting a growth of 24.1%[11] - The gross profit for the year was HKD 1,430 million, an increase of 8.6% from HKD 1,316 million, with a gross margin of 5.2% compared to 5.9% in the previous year[19] - The company reported a total comprehensive income of HKD 643,612 thousand for 2024, up from HKD 577,483 thousand in 2023[136] - Net profit for the year was HKD 672,491 thousand, representing a 15% increase from HKD 585,673 thousand in 2023[134] - The company reported a profit of HKD 403,801,000 for the year, contributing to total comprehensive income of HKD 399,225,000[140] Dividends and Shareholder Returns - The total dividend for the year is proposed at HKD 40.00 per share, an increase of 14.3% from HKD 35.00 in 2023, including a mid-term dividend of HKD 15.00[20] - The board proposed a final dividend of HKD 0.25 per share to shareholders listed on the register as of May 28, 2025[75] - The company has adopted a dividend policy prioritizing cash distributions to shareholders, subject to board discretion and shareholder approval[76] - The company paid dividends totaling HKD 250,335,000 in 2024, compared to HKD 219,043,000 in 2023[144] Market and Industry Trends - Sales revenue from the components team reached HKD 27,610 million, a 24.3% increase from HKD 22,210 million in the previous year, driven by demand for smartphones and consumer electronics[21] - The global smartphone shipment is projected to rebound by 6% to 1.24 billion units in 2024, following two years of decline, driven by emerging markets and aggressive supplier strategies[22] - The consumer electronics market is expected to experience transformative growth in 2024, driven by demand for AI-optimized smart home ecosystems and advanced electric vehicle control interfaces[23] Cash Flow and Financial Position - The group achieved a net operating cash inflow of HKD 552,809,000 for the year, a decrease from HKD 1,039,637,000 in the previous year[33] - The current ratio as of December 31, 2024, is 128%, slightly down from 135% in 2023[33] - The group has a net cash position of approximately HKD 736,368,000, an increase from HKD 651,780,000 in 2023[33] - Cash and cash equivalents surged from HKD 1,580,146,000 in 2023 to HKD 2,927,070,000 in 2024, marking an increase of about 85.2%[137] - The total cash and cash equivalents at the end of 2024 were HKD 2,927,070,000, up from HKD 1,580,146,000 at the end of 2023[144] Governance and Management - The company continues to adhere to high standards of corporate governance, believing it is key to business development and protecting shareholder interests[46] - The board currently consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors[47] - The company has been compliant with the Hong Kong Stock Exchange's corporate governance code, with some deviations noted[46] - The company has appointed new executive directors in 2024, indicating a strategic shift in leadership[45] - The company is committed to maintaining transparency and accountability in its operations, as reflected in its governance practices[46] Risk Management - The group remains focused on cash flow management amid geopolitical tensions affecting the semiconductor industry, particularly between China and the U.S.[29] - The company faces various risks, including exchange rate risk, interest rate risk, credit risk, and liquidity risk, which are monitored closely[89] Sustainability and Corporate Responsibility - The company is committed to sustainable development, integrating environmental, social, and governance issues into its business operations[30] - The company is committed to environmental responsibility, utilizing LED lighting and eco-friendly materials in its operations[84] - The group made charitable donations of approximately HKD 2,783,000 during the year[115] Inventory and Asset Management - The carrying amount of inventory was HKD 3,061,620,000, with a provision for inventory of HKD 132,935,000, representing 30% of the group's total assets[124] - The management reviews inventory on a product-by-product basis to identify obsolete and slow-moving items[124] - Inventory increased significantly from HKD 1,780,168,000 in 2023 to HKD 3,061,620,000 in 2024, representing a growth of about 72.0%[137] Financial Reporting and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly present the group's financial position as of December 31, 2024[121] - The company confirmed compliance with the disclosure requirements under Chapter 14A of the Listing Rules[111] - The group’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards[180] Supplier and Customer Relationships - The largest supplier accounted for 68.6% of total procurement, while the top five suppliers represented 83.1% of total procurement[79] - The largest customer contributed 50.8% to total sales, and the top five customers accounted for 63.3% of total sales[80] - The company emphasizes maintaining close relationships with customers and suppliers to meet their current and long-term needs[88]
S.A.S. DRAGON(01184) - 2024 - 年度财报