Financial Performance - Revenue from continuing operations decreased from approximately HK$491.6 million in 2023 to approximately HK$479.3 million in 2024, representing a decline of about 2.3%[14]. - Profit for the year from continuing operations increased from HK$4.9 million in 2023 to HK$6.5 million in 2024, a growth of approximately 32.7%[7]. - Profit attributable to owners of the Company rose from HK$5.3 million in 2023 to HK$8.0 million in 2024, marking an increase of approximately 50.9%[7]. - For the year ended December 31, 2024, the Group recorded total revenue of HK$479.3 million, a decrease from HK$491.6 million in 2023[74]. - Gross profit decreased by 6.2% from HK$131.8 million to HK$123.6 million, with a slight decline in gross profit margin by 1.0% due to changes in product mix[83]. - Other income rose from approximately HK$13.1 million in 2023 to approximately HK$17.9 million in 2024, primarily due to increased interest income and compensation related to intangible assets[89]. Revenue Segmentation - The Group generated approximately HK$11.9 million in revenue from real estate supply chain services and energy storage products segments in 2024[15]. - The EMS segment revenue increased by approximately HK$10.9 million in 2024, primarily due to growth in the European market[22]. - For the year ended December 31, 2024, the revenue from the Electronic Manufacturing Services (EMS) segment increased by 2.5% to HK$455.1 million, compared to HK$444.2 million in 2023[27]. - Revenue from the Distribution segment decreased by 98.0% to HK$0.2 million, down from HK$10.4 million in 2023, due to declining demand for business telephone systems in North America[27]. - Revenue from the Real Estate Supply Chain Services and Energy Storage Products (RES and ESP) segment decreased by approximately 40.1% to HK$11.9 million, down from HK$19.8 million in 2023, primarily due to a decrease in the energy storage business[32]. Financial Position - As of December 31, 2024, the Group had bank and cash balances totaling approximately HK$312.1 million, up from HK$271.6 million in 2023[24]. - Total assets increased from HK$776.4 million in 2023 to HK$880.1 million in 2024, reflecting a growth of approximately 13.3%[7]. - Total liabilities rose from HK$287.7 million in 2023 to HK$343.3 million in 2024, an increase of approximately 19.4%[7]. - The current ratio remained healthy at 2.7 times as of December 31, 2024, compared to 2.6 times in 2023[103]. Cash Flow and Investments - The Group's securities and other assets investment contributed revenue of approximately HK$19.0 million, down from HK$27.3 million in 2023[33]. - The Group plans to actively seek investment opportunities to broaden its revenue base and enhance future financial performance[120]. - Capital expenditure for 2024 was HK$2.5 million, with capital commitments of HK$1.0 million as of December 31, 2024, primarily related to the acquisition of plant and machinery[109]. Credit and Loan Management - The Group's money lending operations generated revenue of approximately HK$0.2 million, accounting for approximately 0.03% of overall revenue, with an operating profit of approximately HK$0.5 million[36]. - The Group's money lending business is focused on unsecured loans, with all loans collected during the year at an interest rate of 10% per annum[35]. - The Group maintains strict credit policies and controls to mitigate credit risks, including thorough credit assessments and compliance with anti-money laundering regulations[45]. - The Group's impairment loss assessments are based on expected credit loss (ECL) requirements under HKFRS 9, regularly evaluating loans and interest receivables[54]. - The management continuously monitors the credit quality of each borrower to minimize exposure to credit risk[60]. Share Options and Equity - The 2020 Share Option Scheme was adopted on March 10, 2020, replacing the 2010 Share Option Scheme[123]. - On January 28, 2021, 35,671,850 share options were granted to certain Directors and employees under the 2020 Share Option Scheme[128]. - The company proposed the adoption of the 2023 Share Option Scheme and 2023 Share Award Plan at the 2023 AGM, which was approved by shareholders[130]. - The maximum entitlement for each participant under the 2023 Share Award Plan is capped at 1% of the issued share capital of the Company within any 12-month period[145]. - The company terminated the 2020 Share Option Scheme during the 2023 AGM[130]. Corporate Governance - The Board of Directors consists of five executive directors and three independent non-executive directors, with independent directors accounting for over one-third of the Board[198]. - The company has complied with the Corporate Governance Code throughout the year ended December 31, 2024, except for deviations in code provisions C.2.1 and C.1.6[190]. - The company does not have a designated chief executive officer, which deviates from code provision C.2.1[191]. - The company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all directors for the year ended December 31, 2024[197].
中国储能科技发展(01143) - 2024 - 年度财报