Financial Performance - The group's total revenue for the fiscal year ending December 31, 2024, reached approximately HKD 833.9 million, a significant increase compared to HKD 691.1 million in 2023[10]. - The net profit attributable to shareholders for the year was approximately HKD 21.8 million, recovering from a loss of HKD 14.8 million in the previous year[10]. - For the fiscal year ending December 31, 2024, the company reported a revenue increase of approximately 20.7%, rising from about HKD 691.1 million to approximately HKD 833.9 million[28]. - The increase in revenue was attributed to a shift in consumer spending trends towards more personalized products, resulting in increased orders from American customers[28]. - Gross profit increased by approximately 15.1% to about HKD 206.9 million, while gross margin decreased by about 1.2 percentage points to approximately 24.8%[29]. - The company reported a total comprehensive income of HKD 17,083,000 for the year, compared to a loss of HKD 15,470,000 in 2023[179]. - The company reported a net profit of HKD 21,835,000 for the year ending December 31, 2024, compared to a loss of HKD 14,829,000 in the previous year[184]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.04 per share to reward shareholders for their support[10]. - The company proposed a final dividend of HKD 0.04 per share for the year ending December 31, 2024, compared to HKD 0.02 per share in 2023[110]. - The company paid dividends of HKD 14,000,000 to shareholders, down from HKD 21,000,000 in the previous year[188]. Assets and Liabilities - Non-current assets decreased to HKD 282.7 million from HKD 290.3 million in 2023, while current assets also saw a decline to HKD 497.6 million from HKD 514.0 million[6]. - Total assets as of December 31, 2024, were HKD 780,289,000, a decrease from HKD 804,312,000 in 2023[180]. - The company's equity totalled HKD 585,026,000 as of December 31, 2024, down from HKD 604,596,000 in 2023[182]. - The debt-to-equity ratio as of December 31, 2024, was approximately 22.5%, compared to 21.0% in the previous year[42]. - The debt-to-asset ratio increased from approximately 21.0% in 2023 to about 22.5% in 2024, an increase of 1.5 percentage points[98]. Market Strategy and Expansion - The group plans to launch several new products in 2025, focusing on drinkware and storage products, and aims to integrate IoT technology into lifestyle products[14]. - The group is expanding its market presence in the Asia-Pacific region and enhancing partnerships with existing customers[14]. - The group aims to further expand its business scale in the Chinese market through collaborations with local chain stores[14]. - The company has established a supply chain system outside of China to mitigate the impact of uncertainties in U.S. tariff policies[11]. Governance and Compliance - The board consists of two executive directors and four independent non-executive directors, ensuring a balance of power and authority[48]. - The company has adopted the corporate governance code and has complied with it, except for the provision that the roles of chairman and CEO should be separated[48]. - The board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee to oversee various aspects of the company[50]. - All directors confirmed compliance with the standard code for securities trading throughout the year[49]. - The company has established a risk management and internal control system to ensure compliance and operational effectiveness[77]. Employee and Talent Management - The total employee cost for the year ending December 31, 2024, was approximately HKD 60.8 million, compared to HKD 57.8 million for the year ending December 31, 2023, reflecting an increase of about 5.2%[145]. - The group had approximately 152 employees as of December 31, 2024, a slight decrease from 154 employees as of December 31, 2023[145]. - The company provides competitive compensation and performance rewards to retain top talent, including salary, medical insurance, and long-term service awards[105]. Risk Management - The company continues to monitor risks such as foreign currency risk, credit risk, and market uncertainties that may impact profitability[93]. - The global market and operating environment remain unstable due to high inflation, tightening monetary policies, and geopolitical tensions[27]. - The company is adopting a cautious financial strategy to navigate potential market fluctuations and geopolitical tensions[11]. Environmental and Social Responsibility - The company has established an environmental policy aimed at reducing carbon emissions and promoting recycling initiatives[100]. - Charitable donations and other contributions totaled HKD 4,110,000 for the year, up from HKD 3,498,000 in 2023[121]. Audit and Financial Reporting - The financial statements for the year ending December 31, 2024, were audited by Hong Kong Li Xin De Hao CPA Limited[158]. - The audit report provides reasonable assurance that the financial statements are free from material misstatement due to fraud or error[173]. - The board is responsible for preparing the financial statements in accordance with the Hong Kong Financial Reporting Standards and ensuring the accuracy of the financial reporting process[171].
科劲国际(06822) - 2024 - 年度财报