Financial Performance - For the fiscal year ending December 31, 2024, the group's operating revenue was HKD 257.3 million, an increase of HKD 24.4 million or 10.5% compared to HKD 232.9 million for the fiscal year ending December 31, 2023[12]. - The group's gross profit for the fiscal year ending December 31, 2024, was HKD 71.1 million, up HKD 7.4 million from HKD 63.7 million in the previous year, resulting in a gross margin of 27.6%, an increase of 0.3 percentage points from 27.3%[12]. - The profit attributable to the company's owners for the fiscal year ending December 31, 2024, was HKD 26.4 million, an increase of HKD 5.6 million or 26.9% from HKD 20.8 million in the previous year[12]. - Total revenue for the year ended December 31, 2024, was HKD 257,278,000, an increase of 10.5% from HKD 232,920,000 in 2023[160]. - Gross profit for 2024 was HKD 71,075,000, representing a gross margin of 27.6%, compared to HKD 63,692,000 in 2023[160]. - Profit before tax increased to HKD 31,076,000 in 2024, up 27.0% from HKD 24,479,000 in 2023[160]. - Net profit attributable to owners of the company for 2024 was HKD 26,360,000, a rise of 26.5% from HKD 20,773,000 in 2023[160]. - Basic and diluted earnings per share for 2024 were HKD 1.318, compared to HKD 1.039 in 2023, reflecting a 26.9% increase[160]. - Total comprehensive income for the year was HKD 26,320,000, up from HKD 20,541,000 in 2023[160]. Liquidity and Financial Resources - The group has sufficient liquidity and financial resources, with total cash and bank balances amounting to HKD 90.4 million as of December 31, 2024, compared to HKD 82.2 million in the previous year[13]. - The current ratio as of December 31, 2024, was 2.98 times, down from 3.20 times in the previous year[14]. - The company maintains a zero debt ratio as of December 31, 2024, due to having a net cash balance at year-end[16]. - Cash and bank balances rose from HKD 82,158,000 in 2023 to HKD 90,431,000 in 2024, an increase of 10.5%[163]. Capital Expenditures and Investments - Capital expenditures for the fiscal year ending December 31, 2024, amounted to HKD 8.5 million, an increase from HKD 5.4 million in the previous year[17]. - The group has not made any significant investments or acquisitions during the fiscal year ending December 31, 2024[20]. - The net proceeds from the share issuance amount to approximately HKD 42.5 million, with a revised allocation of HKD 34.0 million for efficiency improvements, manufacturing capacity expansion, and new product development[24]. Corporate Governance - The company has adopted the Corporate Governance Code as its governance standard, ensuring compliance with applicable provisions and principles[37]. - The board consists of three executive directors, two non-executive directors, and three independent non-executive directors, meeting the requirements of the listing rules[42]. - The company emphasizes high ethical standards and sustainable development as core elements of its corporate culture[38]. - The board is responsible for overall leadership and strategic decision-making, with three committees established for oversight[40]. - The company has a commitment to enhancing board diversity, currently comprising one female and seven male directors[42]. - The company has adopted a board diversity policy, emphasizing the importance of diversity in maintaining competitive advantage[64]. - The company is committed to finding suitable female candidates for board positions and providing career development for female employees[64]. - The board has reviewed and discussed the effectiveness of the corporate governance policies during the year[41]. Employee and Operational Information - The total number of employees as of December 31, 2024, was 115, up from 112 in the previous year[22]. - The employee gender ratio as of December 31, 2024, is 1.67 females for every male[44]. - The company provides competitive compensation to attract and retain talented employees, with regular reviews of remuneration packages[103]. - The company has established competitive compensation and benefits for employees, along with regular training support[139]. Shareholder Information - As of December 31, 2024, the company's distributable reserves are approximately HKD 114,676,000, including share premium of about HKD 78,695,000, which may be distributed to shareholders[94]. - The board of directors proposed a final dividend of HKD 0.005 per ordinary share for the year ending December 31, 2024, consistent with the previous year[101]. - The company has adopted a general dividend policy, considering various factors including actual and expected financial performance and future expansion plans when proposing dividends[100]. - Major shareholders with 5% or more of the issued share capital include Shell Holdings with 1,500,000,000 shares (75.00%) and Red Dynasty, also with 1,500,000,000 shares (75.00%)[112]. Risk Management and Compliance - The company maintained a strong focus on internal controls and risk management to ensure the accuracy of financial reporting[154]. - The board has reviewed the effectiveness of the internal control and risk management systems, deeming them sufficient and effective[83]. - The company has complied with all relevant laws and regulations, with no significant non-compliance issues reported for the year ending December 31, 2024[142]. - The company has adopted an anti-corruption policy to limit employees from receiving benefits and a whistleblowing policy for reporting misconduct[85]. Business Operations - The group primarily engages in the manufacturing and sale of power tools and the procurement and sale of fans, with headquarters in Hong Kong and manufacturing operations in China and Vietnam[89]. - The group plans to diversify some production to Vietnam in response to market demand changes and ongoing trade challenges[11]. - There were no significant changes in the nature of the group's main business during the year[89]. Financial Reporting and Standards - The consolidated financial statements for the year ended December 31, 2024, were approved by the board on March 24, 2025[169]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[170]. - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on financial performance or position[173]. - The company is currently evaluating the potential impact of newly issued and revised Hong Kong Financial Reporting Standards on its financial statements[176].
蚬壳电业(02381) - 2024 - 年度财报