Financial Performance - The Group's total revenue for the year was approximately HK$539.6 million, a decrease of about 22.6% from HK$697.5 million in 2023[14] - The loss attributable to equity holders of the Company was approximately HK$13.7 million, compared to a profit of HK$23.5 million in 2023[18] - Basic loss per share attributable to equity holders was approximately 2.20 HK cents, down from earnings per share of 3.78 HK cents in 2023[18] - Revenue for the year ended December 31, 2024, was approximately HK$539.6 million, representing a decrease of approximately HK$157.9 million, or approximately 22.6%, from approximately HK$697.5 million for the year ended December 31, 2023[35] - E-cigarette products segment revenue for the year ended 31 December 2024 was approximately HK$91.0 million, a decrease of approximately HK$31.7 million or 25.8% from HK$122.7 million in 2023, primarily due to a decrease in sales orders[40] - Medical consumable products segment revenue for the year ended 31 December 2024 was approximately HK$3.0 million, an increase of approximately HK$0.6 million or 25.0% from HK$2.4 million in 2023, driven by increased sales of medical device products[41] - Gross profit for the year ended 31 December 2024 was approximately HK$110.1 million, with a gross profit margin of 20.4%, compared to HK$135.9 million and 19.5% in 2023[42] - Other income for the year ended 31 December 2024 was approximately HK$8.5 million, a decrease of approximately HK$7.6 million or 47.2% from HK$16.1 million in 2023, due to reduced rental and termination fee income[49] Operational Developments - The Group has established a research and development center in Shenzhen, focusing on new product development and advancing core technologies for e-cigarettes[13] - The business operates through three segments: integrated plastic solutions, e-cigarette products, and medical consumable products, distributing to both domestic and overseas markets[12] - The Group has obtained the Authorised Economic Operator (AEO) Certificate from China Customs, enhancing operational efficiency[12] - The Group established a research and development center in Shenzhen in 2023, focusing on advancing core e-cigarette technologies, including atomization technology and coil design[28] - The Group obtained the Tobacco Monopoly Production Enterprise License for OEM e-cigarette products, valid until 2025[27] - The cleanroom facility in Huizhou has obtained the pharmaceutical industry standards for sterile medical devices and has been certified under EN ISO13485:2016[33] - The Group's procedure face masks have attained ASTM F2100 Level 3 and EN14683 Type IIR standards, with additional higher-level masks like KN95 and FFP2 developed[34] Strategic Outlook - Future plans include broadening the customer base for high-quality e-cigarettes and plastic products, while enhancing cost efficiency to strengthen competitiveness[19] - The Group aims to expand its product offerings, including e-cigarette products, plastic products, and medical consumable products, to drive long-term growth[19] - The Group's optimistic outlook is supported by strategic measures to improve cost efficiency and strengthen competitiveness[22] Environmental, Social, and Governance (ESG) Initiatives - The Group aims to reduce energy consumption intensity by 3% by 2030, using 2021 as the baseline[111] - The Group plans to decrease water consumption by 3% by 2030, with 2021 as the baseline[111] - The Group targets a 10% reduction in hazardous and non-hazardous waste by 2030, using 2021 as the baseline[111] - The Group intends to cut carbon emissions by 10% by 2030, with 2021 set as the baseline[111] - The ESG Report adheres to principles of materiality, quantitative data, consistency, and balance to ensure accurate reporting[97] - The Board is responsible for overseeing the Group's ESG strategy and ensuring cooperation among departments to meet sustainability goals[104] - Stakeholder engagement is prioritized through open dialogue to understand expectations regarding ESG issues[113] - The Group's ESG targets provide a roadmap for continuous improvement and innovation towards sustainability[112] Emissions and Waste Management - The Group's nitrogen oxides (NOx) emissions decreased from 118.70 kg in FY2023 to 63.66 kg in FY2024, representing a reduction of approximately 46.5%[136] - Sulphur oxides (SOx) emissions reduced from 0.75 kg in FY2023 to 0.46 kg in FY2024, a decrease of about 38.7%[136] - Particulate matter (PM) emissions fell from 7.69 kg in FY2023 to 5.07 kg in FY2024, showing a reduction of approximately 34.2%[136] - The Group has established an environmental management system in accordance with ISO 14001:2015 to mitigate environmental impact[126] - The Group has implemented "Procedures for Managing Wastewater, Exhaust Gas and Noise" to enhance daily operational practices and reduce emissions[132] - Total GHG emissions decreased from 18,143.40 tCO2e in FY2023 to 17,619.65 tCO2e in FY2024, representing a reduction of approximately 2.9%[141] - Scope 1 direct emissions increased from 549.03 tCO2e in FY2023 to 678.39 tCO2e in FY2024, an increase of about 23.5%[141] - Scope 2 indirect emissions decreased from 17,204.37 tCO2e in FY2023 to 16,496.50 tCO2e in FY2024, a reduction of approximately 4.1%[141] - Scope 3 other indirect emissions rose from 390.00 tCO2e in FY2023 to 444.76 tCO2e in FY2024, an increase of about 14.0%[141] - GHG emissions intensity increased from 25.99 tCO2e/million HKD revenue in FY2023 to 32.63 tCO2e/million HKD revenue in FY2024, an increase of approximately 25.6%[141] - Hazardous waste reduced to 8.31 tonnes in FY2024 from 11.96 tonnes in FY2023, a decrease of approximately 30.5%[156] - Non-hazardous waste decreased to 238.59 tonnes in FY2024 from 287.77 tonnes in FY2023, a reduction of about 17.1%[156] - Total plastic recycling increased to 94 tonnes in FY2024 from 88 tonnes in FY2023, representing a growth of 6.8%[157] - Total paper recycling rose to 54 tonnes in FY2024 from 49 tonnes in FY2023, an increase of 10.2%[157] Compliance and Risk Management - The Group is committed to monitoring environmental regulations to avoid cost increments and reputational risks associated with non-compliance[193] - The Group has established mitigation plans to address physical risks from climate change, including flexible work arrangements during extreme weather events[190] - The Group adheres to all applicable national and local environmental laws and regulations, ensuring compliance in emissions and waste management[131] Employee Welfare and Development - The Group emphasizes employee development and welfare, offering competitive compensation and clear career paths to enhance retention[196] - During the reporting period, there were no material non-compliance issues related to employment practices that significantly impacted the Group[200]
天长集团(02182) - 2024 - 年度财报