Financial Performance - The Group's revenue for 2024 was HK$3.4 billion, reflecting a decrease of approximately 6% compared to 2023[11]. - The loss attributable to owners of the Company for the year was HK$190.2 million, compared to a loss of HK$132.8 million in the previous year[11]. - The Trading and Distribution Division's revenue for 2024 was HK$1.6 billion, representing a decrease of approximately 14% compared to last year[12]. - The Trading and Distribution Division achieved an operating profit of HK$65 million for 2024, reflecting a decrease of approximately 6% compared to last year[12]. - The OEM Manufacturing Division incurred an operating loss of HK$169.2 million for 2024, compared to an operating loss of HK$122.7 million last year[13]. - The OEM Manufacturing Division's revenue increased by approximately 1.4% to HK$1.8 billion for 2024[13]. - The Group's turnover for 2024 was HK$4,716 million, a decrease from HK$5,412 million in 2023[49]. - The profit attributable to owners of the company turned into a loss of HK$132,784 for 2023, compared to a profit of HK$71,763 in 2022[53]. - The company is projecting a further decline in turnover to HK$3,446,033 for the year 2024, indicating a continued downward trend[53]. - The loss per share increased to (26.05) Hong Kong cents in 2024, compared to (18.19) Hong Kong cents in 2023, reflecting a 43.2% increase[48]. Debt and Equity - As of December 31, 2024, the Group had committed bank and other financing facilities totaling HK$2,570 million, with HK$719 million drawn down[18]. - The Group's consolidated net debt amounted to HK$112.5 million, with total equity of HK$1,487.1 million, resulting in a net gearing ratio of 7.6%[18]. - The Group's total assets attributable to owners of the Company were HK$3,285 million in 2024, up from HK$3,153 million in 2023[51]. - Total assets as of December 31, 2023, were HK$3,152,552, down from HK$3,715,449 in 2022, representing a decrease of 15.1%[53]. - Total liabilities decreased to HK$1,479,501 in 2023 from HK$1,862,302 in 2022, a reduction of 20.5%[53]. - Equity attributable to owners of the company fell to HK$1,576,849 in 2023, down from HK$1,745,445 in 2022, a decline of 9.7%[53]. Employee and Management - As of December 31, 2024, the Group had a total of 3,880 employees[21]. - The Group's employee benefit expenses to revenue increased to 18.0% in 2024 from 16.6% in 2023, a change of 1.4 percentage points[48]. - The Group's management is focused on enhancing efficiency and reducing costs in the OEM Manufacturing Division's Mexican facility due to ongoing geopolitical and economic challenges[39]. - The company has experienced a significant shift in management structure with multiple leadership changes occurring in late 2024[55][60]. - The company is focusing on enhancing internal costing control and financial management strategies under the new leadership[60]. Governance and Leadership - The company has appointed Wong Ava as Deputy Chairman and Chief Executive Officer effective January 1, 2025, indicating a leadership transition[55]. - Wong Orangeo Wendy has been appointed as Deputy Chairman effective December 10, 2024, overseeing internal and administrative departments[60]. - The company has appointed several independent non-executive directors with extensive experience in advertising, arts, and healthcare sectors[66][68][69][70]. - The company emphasizes the importance of corporate governance and risk management, with experienced independent directors on its board[76]. - The company has a structured governance framework with various committees, including Audit, Remuneration, and Nomination Committees[66][68][70]. Market Strategy and Operations - The Group is committed to expanding its market presence in the PRC, supported by its experienced management team[84]. - The company has expanded its operations in China, with a focus on marketing and sales of electronic products and semiconductors in key regions such as Beijing, Chengdu, and Chongqing[100]. - Future growth strategies include expanding distribution channels in Southeast Asia, particularly through WKK Distribution (Singapore) Pte Ltd[102]. - The company is actively involved in the semiconductor, PCB, and PCBA product sectors, indicating a strong commitment to these high-demand markets[106]. - The management team includes experienced professionals with over 30 years in the electronics and computer industry, enhancing the company's market presence[109]. Sustainability and Community Engagement - The Group is committed to sustainable development and has established a green council for environmental protection activities[22]. - The leadership team is committed to sustainable practices, as evidenced by involvement in environmental initiatives within the electronics sector[108]. - The Group made charitable donations amounting to approximately HK$328,000 during the year[145]. Share Options and Ownership - The Group's reserves available for distribution to shareholders amounted to HK$303,807,000 as of the balance sheet date, an increase from HK$260,172,000 in 2023[140]. - The Board of Directors resolved not to recommend the payment of any interim or final dividends for the year ended 31 December 2024, consistent with 2023[127]. - The Company has adopted a new Share Option Scheme on June 22, 2016, following the expiration of the previous scheme on May 29, 2015[172]. - The New Share Option Scheme aims to motivate eligible participants to enhance their performance for the benefit of the Group and to attract and retain contributors to the Group's long-term growth[176]. - As of December 31, 2024, Wong Senta holds a total interest of 338,932,723 shares, representing 46.44% of the issued share capital[166].
WKK INTL (HOLD)(00532) - 2024 - 年度财报