Financial Performance - The company's revenue for the fiscal year 2024 was approximately $431.1 million, an increase of about $325.4 million or 307.9% compared to $105.7 million in 2023[8]. - Net profit attributable to the company's owners for 2024 was approximately $40.3 million, translating to earnings per share of 11.10 cents, compared to a net profit of $1.8 million and earnings per share of 0.50 cents in 2023[6][8]. - The graphite business generated approximately $344.8 million in revenue for 2024, up 837.1% from about $36.8 million in the same period last year, primarily due to sales of remaining graphite ore inventory[19]. - The UK business's revenue rose to approximately £68 million, a 23% increase year-over-year, achieving the highest record in its history[20]. - The company reported a total of HKD 90,134,000 (USD 11,555,600) for the fiscal year ending December 31, 2024[32]. Assets and Liabilities - Total assets as of December 31, 2024, were approximately $452.1 million, up from $409.3 million in 2023, while net assets increased to approximately $430.4 million from $389.7 million[8]. - As of December 31, 2024, the group's cash and cash equivalents were approximately $12.6 million, up from about $6.1 million a year earlier[25]. - The group's net current assets as of December 31, 2024, were approximately $365.2 million, compared to $352.5 million in 2023[25]. - The asset-to-equity ratio as of December 31, 2024, was approximately 0.07%, compared to 0.03% in 2023[25]. Strategic Initiatives - The company entered into an agreement to sell two production lines and 390,000 tons of graphite ore in Madagascar for $21,045,651, with the transaction completed on December 18, 2024[10]. - AGL will pay $296,433,000 for the remaining graphite ore inventory by September 30, 2025, which will save the company ten years of storage and management costs[11]. - The company acquired 100% of GoMeta Limited to develop third-generation internet-related businesses, including NFTs and cryptocurrencies, aiming to create new revenue streams[14]. - The acquisition of SEI shares was completed to diversify the company's business, with SEI holding a 98.75% stake in a leading mobile platform in Macau for food delivery services[16]. - The company believes there are significant opportunities to explore with the rise of artificial intelligence[15]. Operational Performance - The electronic manufacturing services segment is operated by Axiom Manufacturing Services Limited, providing comprehensive outsourcing from design to manufacturing[13]. - The company has established a long-term supply agreement with AGL to ensure a stable supply of graphite products[11]. - Management remains cautiously optimistic about the overall graphite market in 2025, influenced by geopolitical factors and the demand for electric vehicles[23]. - The UK business's order backlog for early 2025 has reached encouraging levels, with expected revenue to maintain at current high levels[24]. - The company plans to invest in the latest capital equipment and R&D activities to further increase production and expand service offerings[24]. Corporate Governance - The company has complied with all corporate governance codes except for the separation of the roles of Chairman and CEO, which are held by the same individual[40]. - The board has decided not to declare any dividends for the fiscal year ending December 31, 2024, consistent with 2023[36][57]. - The company has established a mandatory provident fund plan, with both employer and employee contributions set at 5% of the defined employee income, capped at HKD 1,500 per month[97]. - The board is committed to high standards of corporate governance and business ethics, believing it is crucial for enhancing investor confidence and increasing shareholder returns[103]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange Listing Rules, ensuring compliance with applicable governance standards[103]. Risk Management - The internal control system is designed to safeguard assets from unauthorized use and ensure compliance with relevant laws and regulations[154]. - The group has established procedures for identifying, assessing, and managing significant risks to achieve business objectives[155]. - The board conducts an annual review of the effectiveness of the risk management and internal control systems, finding them overall effective and adequate[158]. - The company has adopted a whistleblowing policy to enhance internal fairness and provide reporting channels for suspected misconduct[159]. - The board has implemented anti-fraud and anti-corruption policies to prevent and investigate all forms of fraud and corruption[162]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's activities, performance, challenges, and measures taken from January 1, 2024, to December 31, 2024[178]. - The ESG report adheres to the mandatory disclosure requirements outlined in the Stock Exchange's guidelines[179]. - The board oversees the group's overall sustainability strategy and risk management related to ESG issues[186]. - The company has received ISO 14001 certification, indicating adherence to international standards for environmental management[197]. - The company aims to enhance its environmental, social, and governance initiatives through collaboration with stakeholders to create greater community value[192].
谊砾控股(00076) - 2024 - 年度财报