Financial Performance - The company's revenue from SMT and semiconductor equipment manufacturing increased by approximately 11.98% year-on-year, reaching HKD 229,776,000[9]. - The gross profit for the SMT and semiconductor equipment segment was approximately HKD 95,215,000, higher than the previous year, driven by increased market demand and successful product development[12]. - The energy business generated revenue of approximately HKD 17,264,000, an increase of about HKD 10,654,000 year-on-year, although it requires long-term stable operations to achieve break-even[9]. - The group's total revenue for the year ended December 31, 2024, was approximately HKD 247,040,000, an increase of about HKD 35,245,000 or 16.64% compared to the same period in 2023[25]. - Revenue from SMT and semiconductor equipment and related businesses was approximately HKD 229,776,000, representing a year-on-year increase of about HKD 24,591,000 or 11.98%[26]. - The company reported a net loss attributable to shareholders of approximately HKD 34,417,000 for the year, a decrease of HKD 28,092,000 compared to the previous year[47]. - The company reported a loss before tax of HKD (61,064,000) for 2024, an improvement from a loss of HKD (70,750,000) in 2023, indicating a reduction in losses by about 13.5%[117]. - The net loss for the year was HKD (68,062,000) in 2024, compared to a net loss of HKD (106,812,000) in 2023, showing an improvement of approximately 36.3%[117]. Market Trends and Opportunities - The global SMT equipment market is projected to grow to $15.16 billion within five years, driven by the demand for high-performance SMT equipment in consumer electronics and emerging technologies[16]. - The shipment volume of global wearable devices is expected to approach 800 million units this year, indicating sustained demand for high-performance SMT equipment[17]. - In the automotive sector, SMT is crucial for the electrification and intelligence of vehicles, with SMT solder joints needing to withstand over 100,000 vibration and temperature cycles[18]. - By 2024, China is expected to add 42.46 GW of new energy storage capacity, surpassing pumped storage for the first time, indicating strong growth in the domestic energy storage industry[20]. - The company anticipates that the new energy storage industry will experience rapid development opportunities due to supportive policies and increasing installed capacity[22]. Corporate Strategy and Development - The company aims to continue its focus on technological research and development, process optimization, and market expansion to drive sustainable development[11]. - The company launched a new e-commerce platform, "Nitto Technology Mall," marking a significant step in digital transformation[12]. - The company is actively optimizing the operation of the He Rong power station, focusing on enhancing the reliability of the SVG system and improving battery management systems[14]. - The company expects to achieve a diversified profit model through simultaneous participation in spot trading and frequency regulation services, which will drive performance growth[15]. - The company aims to enhance operational resilience by optimizing product services and business structure while navigating market challenges and uncertainties[23]. Corporate Governance and Compliance - The company has adopted all provisions of the corporate governance code as per the listing rules[67]. - The board has established an appropriate liquidity risk management framework to meet the group's short-term, medium-term, and long-term financing and liquidity management requirements[61]. - The board has conducted ten meetings during the year to review and approve financial statements and operational performance[72]. - The company has established a reporting policy to allow employees and stakeholders to anonymously report any concerns regarding misconduct[103]. - The company’s governance report indicates that it has reviewed its shareholder communication policy, confirming effective communication with shareholders[114]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to developing environmentally friendly products and minimizing operational impacts on the environment[169]. - The company has established an ESG task force to oversee and manage ESG-related matters effectively[171]. - The company emphasizes the importance of health and safety in the workplace, categorizing it as a high priority in its ESG assessment[182]. - The company adheres strictly to various environmental protection laws in China, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[185]. - The company has implemented measures to mitigate the impact of extreme weather events on production operations, including monitoring weather alerts and ensuring employee safety[194]. Employee and Stakeholder Relations - The company emphasizes a "people-oriented" management philosophy, ensuring fair treatment in hiring, promotion, and employee welfare[196]. - The company has implemented a mandatory provident fund scheme for employees in Hong Kong and a local government-managed retirement plan for employees in mainland China[154]. - The company has maintained effective communication and good relationships with key stakeholders, including employees, customers, and suppliers[161]. - The gender ratio among employees in 2024 was approximately 13:3, reflecting the company's commitment to gender equality[86]. - As of December 2024, the total number of employees at the factory is 303, with a gender distribution of 81% male and 19% female[198][199].
芯成科技(00365) - 2024 - 年度财报