Financial Performance - The group's revenue increased by 22.7% year-on-year to HKD 6,268,065,000 for the year ended December 31, 2022, compared to HKD 5,108,777,000 in 2021[138]. - Shareholders' profit rose by 32.8% year-on-year to HKD 206,017,000, up from HKD 155,190,000 in the previous year[138]. - Basic earnings per share increased by 31.1% to HKD 0.118, compared to HKD 0.090 in 2021[138]. - The company's total revenue for the year ended December 31, 2022, was HKD 6,268,065, an increase from HKD 5,108,777 in 2021, representing a growth of 22.7%[163]. - The automotive parts business revenue increased to HKD 1,503,267, up from HKD 1,101,574 in 2021, representing a growth of 36.5%[163]. - The overall gross margin increased by 0.2 percentage points to 20.0% compared to the previous year, driven by effective cost control measures and a strong performance in the office automation equipment segment[169]. - Revenue from the office automation equipment business rose by 20.3% to HKD 4,502,285,000, primarily due to strong growth in Vietnam and strategic acquisitions[170]. - The automotive parts segment achieved a revenue growth of approximately 29.3% to HKD 1,765,780,000, supported by new orders and the expansion of the new energy vehicle customer base[176]. - The profit for the office automation equipment segment increased by 82.5% to HKD 253,507,000, with an improved profit margin of approximately 5.6%[175]. - The company reported a net profit attributable to shareholders of HKD 206,017 for 2022, up from HKD 155,190 in 2021, marking a year-on-year increase of 32.7%[163]. Operational Efficiency - As of December 31, 2022, the current ratio increased to 1.50, indicating improved liquidity for the company[12]. - The current ratio improved to 1.50 from 1.13, indicating better short-term financial health[34]. - The average service period for managerial staff and below was 2.8 years, while for managerial level and above it was 8.5 years[17]. - The accounts receivable turnover days remained stable at 98 days, while accounts payable turnover days decreased to 108 days from 122 days, reflecting a shift towards shorter credit terms from suppliers[35]. - As of December 31, 2022, the company's inventory turnover days decreased to 46 days from 61 days in the previous year, with inventory reduced by 7.2% to approximately HKD 638,603,000[34]. - The company maintains a prudent treasury policy, ensuring sufficient cash levels and credit facilities to meet operational needs[24]. Market Expansion and Strategy - The company is actively expanding into the domestic market and the innovative computing industry, with a projected market size of RMB 800 billion by 2025 and a compound annual growth rate of 37.7%[144]. - The company has established partnerships with major clients such as Lenovo and Huawei to enhance its domestic market share through new product development[144]. - The company is focusing on diversifying its business and developing new product lines in response to anticipated declines in traditional product demand[155]. - The company plans to expand its Vietnam industrial park to leverage low labor costs and tax incentives, aiming for continued business growth and profitability[172]. - The company aims to actively seek acquisition and strategic alliance opportunities to strengthen its business foundation and expand market share[197]. Challenges and Risks - The company faced challenges in 2022 due to global chip shortages, inflation, and geopolitical tensions, impacting the automotive industry significantly[181]. - The automotive parts business in Shenzhen experienced a revenue decline of about 25.1% due to the impact of the Russia-Ukraine war on European exports[147]. - The management believes that the optimized strategies in Suzhou will lead to breakthroughs in the coming years despite a 15.5% revenue decline in that region[143]. Awards and Recognition - The company received several awards in 2022, including recognition as a "Top 500 Enterprise in Guangdong" and "Outstanding Supplier Award" from various partners[162]. - The company was recognized as a "National High-tech Enterprise" in 2016[86]. - The company was awarded the "Best Quality Award" from Shenda in 2020[100]. - The company was recognized as a "Leading Enterprise in Environmental Protection" by the Hong Kong General Chamber of Commerce in 2017[89]. - The company was awarded the "Best Delivery Assurance Award" by Chang'an Automobile in 2021[131]. Financial Position - The net current assets reached HKD 1,437,367, significantly higher than HKD 415,727 in the previous year[163]. - The net debt to equity ratio rose to 21.0%, up from 17.5% in the previous year, indicating a slight increase in leverage[169]. - The financial expenses increased due to rising interest rates and a higher average borrowing balance compared to 2021[160]. - The company generated operating cash of HKD 456,024, an increase from HKD 290,087 in 2021[163]. - The company's financial income decreased due to lower interest rates on bank deposits held in China[160].
亿和控股(00838) - 2022 - 年度财报