Financial Performance - The consolidated profit attributable to shareholders for the year ended December 31, 2024, is approximately HKD 548.1 million, down from HKD 635.6 million in the previous year, representing a decrease of 13.8%[22] - Total revenue for 2024 is HKD 3,359 million, a slight increase of 0.6% compared to HKD 3,338 million in 2023[20] - The utility segment reported revenue of HKD 1,444 million, a decrease of 9.8% from HKD 1,600 million in 2023[20] - The pharmaceutical segment achieved revenue of HKD 1,609 million, an increase of 11.7% from HKD 1,441 million in 2023[20] - The company’s mechanical and electrical segment reported a loss of HKD 104 million, compared to a loss of HKD 29 million in the previous year, indicating a significant decline in performance[21] - The revenue from the thermal energy segment decreased by 11.6% to approximately HKD 1,139,400,000, with profit dropping to about HKD 24,700,000[37] - The electricity segment's revenue was approximately HKD 2,399,400,000, a decrease of 4.2%, contributing a profit of about HKD 57,500,000[38] - The profit from the pharmaceutical segment was approximately HKD 443,300,000, compared to HKD 370,100,000 last year, with a comparable profit of approximately HKD 105,000,000 for 2023 after excluding one-time impacts[40] Dividends and Shareholder Returns - The board has proposed a final dividend of HKD 0.0882 per share, bringing the total dividend for the year to HKD 0.14 per share, an increase of 14.3% from the previous year[22] - The board proposed a final dividend of HKD 0.0882 per share for the year ending December 31, 2024, compared to HKD 0.0880 per share in 2023, resulting in a total annual dividend of HKD 0.14 per share, up from HKD 0.1225 in 2023[61] Strategic Focus and Development - The company plans to focus on steady development of existing businesses and pursue high-quality growth through mergers and acquisitions and restructuring[23] - The company will also concentrate on businesses with development potential and sustainable expansion[23] - The company remains optimistic about future growth despite external uncertainties, emphasizing a commitment to prudent financial management and business integration[29] - The company is committed to leveraging its leadership's diverse expertise to drive growth and innovation in its operations[70] Acquisitions and Investments - The acquisition of a 65% stake in Jiangxi Qingchun Kangyuan Pharmaceutical Co., Ltd. was completed, enhancing the production platform for traditional Chinese medicine[24] - The group completed the acquisition of 65% of Qingchun Kangyuan on February 1, 2024, with a performance commitment ensuring audited net profit of no less than RMB 11,332,200 for the fiscal year 2023[41] Employee and Management Changes - Dr. Zhai Xinxiang appointed as Executive Director and General Manager on September 29, 2023, bringing extensive experience in economic and corporate management[65] - Mr. Xia Binhui appointed as Executive Director and Deputy General Manager on December 30, 2024, with a strong background in asset management and corporate restructuring[66] - Mr. Sun Lijun, a senior accountant, serves as the financial director, bringing rich experience in financial management and capital management[67] - The group employed approximately 2,729 employees as of December 31, 2024, an increase from 2,376 in 2023, including 259 management and 894 technical personnel[58] Environmental, Social, and Governance (ESG) Practices - The company has a strong focus on environmental, social, and governance (ESG) practices, adhering to the Hong Kong Stock Exchange's guidelines for ESG reporting[76] - The ESG report covers the period from January 1, 2024, to December 31, 2024, focusing on key operational categories such as public utilities, pharmaceuticals, and electromechanical sectors[77] - The company emphasizes the importance of sustainability in its daily operations and has established a governance framework for implementing various ESG policies and initiatives[80] - The company aims to provide balanced and fair information regarding its ESG performance, avoiding misleading presentations[81] Risk Management - The company has established a clear risk management framework to identify, assess, and manage significant risks, including ESG and climate-related risks[86] - The board is committed to maintaining an effective risk management system, with annual reviews to assess its effectiveness[86] - The company has engaged external consultants for regular independent reviews of its risk management and internal control systems[84] Community Engagement and Social Responsibility - Community investment initiatives include volunteer activities and donations to support vulnerable groups, enhancing social responsibility efforts[165] - The company organized various social activities, including providing safe and reliable water supply services to disabled elderly individuals, demonstrating its commitment to community welfare[165] Corporate Governance - The board consists of eight members, including three executive directors and four independent non-executive directors, ensuring a diverse professional background[172] - The company has maintained compliance with the corporate governance code throughout the year, reflecting its commitment to high governance standards[167] - The board has conducted an annual review of the independence of all independent non-executive directors, confirming their compliance with independence criteria[173] Training and Development - The company provided training for 2,158 employees, totaling 68,894 hours in fiscal year 2024, a decrease from 83,225 hours for 1,926 employees in fiscal year 2023[153] - The overall training participation rate for fiscal year 2024 was 86.35%, down from 89.04% in fiscal year 2023, with an average training hours per employee of 27.57, compared to 38.48 hours in the previous year[153] Compliance and Ethical Standards - The company has established a zero-tolerance policy towards money laundering and has implemented written policies to manage key operational processes[95] - No significant non-compliance issues related to corruption and money laundering were found during the reporting period, reflecting the company's commitment to ethical business practices[163]
天津发展(00882) - 2024 - 年度财报