Financial Performance - Revenue for the full year 2024 reached HK$262.4 million, a 7.2% increase from HK$243.6 million in 2023[55] - Gross profit for the full year 2024 was HK$85.4 million, representing a gross margin of 32.5% compared to 30.8% in 2023[55] - The profit attributable to owners of the company for 2024 was HK$3.8 million, a significant recovery from a loss of HK$6.9 million in 2023[57] - Earnings per share for 2024 improved to HK$1.2 cents, up from a loss of HK$7.6 cents in 2023[59] - Net assets increased to HK$865.6 million in 2024, compared to HK$754.6 million in 2023, reflecting a growth of 14.7%[61] Revenue Breakdown - Datronix reported revenue of HK$183.0 million for 2024, a decrease of 17.7% from HK$222.4 million in 2023[76] - The communication segment generated HK$38.7 million in 2024, down 14% from HK$45.1 million in 2023, contributing 21% of total revenue[79] - Data processing segment sales were HK$26.3 million in 2024, a decrease of 37% from 2023, contributing 14% of total revenue[80] - Industrial application segment sales were HK$61.4 million in 2024, down 13% from HK$70.4 million in 2023, contributing 34% of total revenue[84] - High precision and reliability segment reported sales of HK$56.6 million in 2024, a decrease of 13% from HK$65.2 million in 2023, contributing 31% of total revenue[85] Financial Position - As of December 31, 2024, Datronix had a cash balance of HK$141.7 million and no bank loans[78] - The Group's total equity amounted to approximately HK$754.6 million, a decrease from HK$813.3 million in 2023[98] - The Group's cash and cash equivalents were approximately HK$141.7 million as of December 31, 2024, compared to HK$145.2 million in 2023[98] - The Group had no bank loans or other borrowings as of December 31, 2024, indicating a strong financial position[98] Operational Strategy - The Group plans to focus on core competencies, streamline operations, and diversify revenue streams to adapt to market changes[87] - The Group employs approximately 720 personnel globally, with 80 in Hong Kong, 360 in the PRC, and 280 overseas as of December 31, 2024[99] - The Group has implemented a competitive remuneration policy based on business performance and market practices[100] - The Group has a staff education sponsorship program and provides training courses related to operational systems and product safety[99] - The Group's management regularly reviews employee remuneration packages to ensure competitiveness[100] Shareholder Information - The Group does not recommend the payment of a final dividend for 2024, consistent with 2023[137] - The Company has adopted a dividend policy that considers factors such as current and future operations, financial performance, and liquidity position[138] - The Group's reserves available for distribution to shareholders at the end of the reporting period were HK$83,206,000, with accumulated losses of HK$76,997,000[175] Corporate Governance - The Company has a senior management team with extensive experience in operations management, finance, and manufacturing[121][122][123] - The Company has been actively involved in corporate governance with independent non-executive directors overseeing key committees[126] - The Group's operations are subject to various risks and uncertainties that may affect business performance, including cyclical market conditions and compliance with government regulations[154] - The Group has complied with applicable laws and regulations that significantly impact its operations during the year[164] Management and Leadership - Mr. Siu Ronald was appointed as Chairman of the Board and Chief Executive Officer effective August 21, 2024[190] - Ms. Siu Nina Margaret was appointed as an Authorised Representative of the Company effective August 21, 2024[190] Miscellaneous - During the year, the Group made charitable and other donations amounting to HK$1,293,000, compared to zero in 2023[172] - There were no significant events affecting the Group after the year ended December 31, 2024[153] - The Company cannot declare or pay a dividend if it is unable to pay its liabilities as they become due or if the realizable value of its assets is less than the aggregate of its liabilities and share capital[175]
连达科技控股(00889) - 2024 - 年度财报