Financial Performance - The company achieved a revenue of approximately HKD 576.6 million in 2024, representing a 68.7% increase from HKD 341.9 million in 2023[6]. - The company recorded a net profit of HKD 0.5 million in 2024, reversing a loss of approximately HKD 5 million in 2023, primarily due to increased revenue and gross profit from the supply chain business[6]. - The company's supply chain business revenue increased by HKD 239.9 million or 84.3% to HKD 524.5 million in fiscal year 2024, driven by higher demand for agricultural and industrial products[19]. - Total revenue for fiscal year 2024 rose by HKD 234.7 million or 68.7% to HKD 576.6 million, primarily due to the significant contribution from the supply chain business[20]. - Gross profit for fiscal year 2024 increased by 196.5% to HKD 29.9 million, with a gross margin of 5.2%, up 2.2 percentage points from 3.0% in fiscal year 2023[22]. - The company reported a profit attributable to equity holders of HKD 491,000 for 2024, a recovery from a loss of HKD 4,970,000 in 2023[176]. - The basic and diluted earnings per share for 2024 were HKD 0.18, recovering from a loss per share of HKD 1.80 in 2023[176]. Business Strategy and Expansion - The company plans to further expand its market in Southwest China and actively participate in public tenders for medical equipment in 2025[8]. - The supply chain business will focus on long-term supply agreements for coal, traditional Chinese medicine products, and photovoltaic components, while exploring the export of new energy vehicles[8]. - The company successfully invested in a green energy project in Dayao, Yunnan, laying a solid foundation for future expansion into the Southeast Asian green energy market[7]. - The group plans to expand its distribution business in Southwest China, aiming for increased sales contracts in 2025, leveraging established relationships with well-known brands[38]. - The group aims to sign long-term supply agreements in the coal and traditional Chinese medicine sectors, while also expanding international trade in photovoltaic projects and electrolytic copper[40]. - The group is actively exploring green energy project investments in Yunnan and Southeast Asia, aiming to increase installed capacity and enhance revenue contributions[41]. - In 2025, the group will deepen its market presence in Southeast Asia, focusing on green energy projects in Laos and Myanmar[43]. Operational Efficiency and Management - The company aims to optimize resource allocation and enhance operational efficiency in its green energy business to achieve scalable development and sustainable long-term returns for shareholders[9]. - The company is leveraging its 30 years of customer base and management experience in the international supply chain to expand its market share[7]. - The company will continue to cautiously manage its distribution and supply chain businesses while accelerating international energy project investments[8]. - The management team for the supply chain business consists of 11 experienced members, led by a professional with over 20 years of international trade experience[40]. - The group plans to expand its business team in the next 12 months to meet growing market demands[40]. - The company aims to improve operational efficiency and alleviate current market challenges by utilizing existing resource advantages[45]. Corporate Governance - The company has established corporate governance practices in line with the Hong Kong Stock Exchange's guidelines, ensuring compliance for the fiscal year ending December 31, 2024[56]. - The board consists of eight directors, including five executive directors and three independent non-executive directors[60]. - The independent non-executive directors are Liu Zongliu, Jing Pilin, and Shi Fazhen, who continue to meet the independence criteria as per listing rules[62]. - The board is responsible for major investments, corporate restructuring, mergers and acquisitions, and the announcement of financial performance[58]. - The company aims to maintain high levels of corporate governance to enhance shareholder value[56]. - The board's independent non-executive director has over 17 years of experience in auditing and accounting, ensuring robust governance practices[51]. - The board is tasked with setting strategic goals and ensuring the company has the necessary financial and human resources to achieve them[59]. Risk Management and Compliance - The company has established a corporate risk management framework to identify major risks, including financial, operational, compliance, and IT risks, with regular reviews by the audit committee and the board[94]. - The external auditor found no significant violations or internal control deficiencies during the statutory audit process, indicating effective internal controls[95]. - The board and audit committee believe that the risk management and internal control systems are effective and sufficient to address financial, operational, and compliance risks in the current operating environment[96]. - The company has procedures in place for handling and disclosing insider information, emphasizing the importance of confidentiality and compliance with regulations[96]. Diversity and Employment Practices - The company has achieved a balanced workforce with female employees constituting 52% of the total workforce, including significant representation in corporate positions[80]. - The company emphasizes fair employment practices and diversity in recruitment and promotion processes[80]. - The Board's diversity policy aims to enhance performance quality by considering factors such as gender, age, cultural background, and professional experience[80]. - The company has adopted measurable goals for its diversity policy, focusing on maintaining the current level of female representation on the Board[81]. Financial Position and Assets - Total assets as of December 31, 2024, amounted to HKD 373,742,000, an increase from HKD 318,631,000 in 2023[178]. - Current liabilities increased to HKD 250,607,000 in 2024 from HKD 153,428,000 in 2023, indicating a rise in short-term obligations[178]. - The net asset value as of December 31, 2024, was HKD 164,117,000, slightly down from HKD 165,329,000 in 2023[178]. - The company’s cash and cash equivalents decreased to HKD 66,063,000 in 2024 from HKD 120,618,000 in 2023, reflecting a tighter liquidity position[178]. Shareholder Communication and Dividends - The company has established a shareholder communication policy to facilitate effective communication with shareholders and stakeholders[110]. - The board adopted a dividend policy on March 4, 2019, aimed at providing stable and continuous returns to shareholders[114]. - The group did not declare any interim dividends for the fiscal year ending December 31, 2024, consistent with the previous year[121]. - The board does not recommend a final dividend for the fiscal year ending December 31, 2024, mirroring the decision made in 2023[123].
云能国际(01298) - 2024 - 年度财报