Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 1,068,000,000, a decrease of about 4.1% compared to the previous year[11]. - Profit attributable to the company's owners decreased by approximately 2.9% from HKD 175,400,000 in 2023 to HKD 170,400,000 in 2024, primarily due to a reduction in gross profit[18]. - The gross profit for 2024 was approximately HKD 321,600,000, with a gross profit margin of about 30.1%, down from 31.9% in 2023, reflecting a decline of 1.8%[12]. - The company reported a profit of HKD 170,373,000 for the year ended December 31, 2024, compared to HKD 175,420,000 in 2023, a decrease of approximately 2.4%[191]. - The company reported a total comprehensive income of HKD 164,618,000 for 2024, down from HKD 171,781,000 in 2023[187]. - The company's net asset value increased to HKD 829,677,000 in 2024, up from HKD 725,684,000 in 2023, representing a growth of approximately 14.3%[190]. - The company paid dividends totaling HKD 60,625,000 in 2024, compared to HKD 55,000,000 in 2023, representing an increase of approximately 10.3%[191]. Sales and Revenue Breakdown - Sales of sleepwear products increased by approximately 10.1% to about HKD 726,400,000, while sales of loungewear products decreased by approximately 26.1% to HKD 326,200,000[8]. - Revenue from product sales (sleepwear, loungewear, and grey fabric) for the year ending December 31, 2024, was approximately HKD 1,065,131,000 and HKD 2,699,000 from processing services[172]. - Revenue from customer B increased by approximately 60.6%, and revenue from Europe (UK and Ireland) rose by about 61.0% in 2024[8]. - The sales revenue for the year 2024 was approximately HKD 1,070,000,000, with sales claims amounting to about HKD 285,000[166]. Expenses and Cost Management - Sales and distribution expenses were approximately HKD 52,200,000, a decrease of about 6.2% from HKD 55,700,000 in 2023, with the expense ratio declining from about 5.0% to 4.9%[15]. - Administrative expenses for the year were approximately HKD 69,100,000, a slight increase of about 1.5% from HKD 68,100,000 in 2023, attributed to the expansion of operations[16]. - The group recorded financial expenses for 2024 of approximately HKD 19,200,000, an increase from HKD 18,100,000 in 2023, with a decrease in trade financing interest of about HKD 1,800,000[17]. - The company reported a 10% reduction in operational costs due to improved supply chain management[110]. Investments and Future Plans - The company plans to establish production bases in Africa, Central America, and Vietnam to capitalize on upcoming demand recovery opportunities[9]. - The new garment production facility in Vietnam is expected to have a monthly capacity of approximately 2,000,000 pieces, with initial trial production targeted for the end of 2025[22]. - A new garment production base is planned in Kenya, aimed at increasing production capacity and reducing delivery times to European customers, with initial trial production expected in the second half of 2025[22]. - The group aims to stabilize growth in existing businesses while planning future expansions to capture opportunities as global and domestic demand rebounds[20]. - The company is investing $10 million in research and development for sustainable materials, aiming to reduce production costs by 15%[110]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with the exception that the roles of Chairman and CEO are held by the same individual, Mr. Tan Guopei[114]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance between executive and non-executive members[116]. - The company has complied with the standards for securities trading by directors, confirming adherence to the established code[115]. - The board has confirmed the effectiveness of the risk management and internal control systems for the fiscal year ending December 31, 2024, with no significant issues identified[133]. Environmental Sustainability - The group emphasizes environmental sustainability through initiatives like water conservation and recycling[37]. - The company aims to reduce greenhouse gas emissions by 5% in the next reporting period[151]. - The company has implemented measures to monitor and gradually reduce energy consumption and emissions[148]. - The company has reported direct greenhouse gas emissions totaling 22,340.70 tons of CO2 equivalent, with an intensity of 11.02 tons per employee[149]. - The company plans to establish new production facilities in Vietnam and Kenya with environmentally friendly energy solutions[151]. Employee and Labor Relations - The group employed 2,028 staff members as of December 31, 2024, with 100% being full-time employees[157]. - The average employee turnover rate was 6.54% for males and 4.71% for females[159]. - The average training hours per employee were 4.32 hours for males and 2.60 hours for females[163]. - The group actively promotes a fair and harmonious employment environment, ensuring compliance with local labor laws[158]. Risk Management - The company has implemented measures to identify and prioritize significant risks based on their potential financial impact and operational efficiency[133]. - The annual review of risk management and internal control systems includes assessments of significant risks and the company's response capabilities[133]. - The board is responsible for evaluating and determining ESG-related risks and ensuring the establishment of effective ESG risk management systems[143].
捷隆控股(01425) - 2024 - 年度财报