Financial Performance - For the year ended December 31, 2023, the company reported total revenue of HKD 1,362,732,000, representing a 28.2% increase from HKD 1,063,058,000 in 2022[3] - Gross profit for the year was HKD 183,725,000, up 41.3% from HKD 129,987,000 in the previous year[3] - The company's net profit attributable to shareholders was HKD 67,871,000, a significant increase of 122.3% compared to HKD 30,504,000 in 2022[3] - Basic earnings per share rose to HKD 13.54, compared to HKD 6.09 in the prior year, reflecting a 122.3% increase[3] - Total comprehensive income for the year was HKD 62,768,000, compared to HKD 5,029,000 in 2022, indicating a substantial improvement[4] - The company reported a consolidated profit before tax of HKD 78,498,000 for 2023, up from HKD 34,336,000 in 2022, marking an increase of approximately 128.5%[20] - The group reported a net profit of HKD 67,871,000 for 2023, a substantial increase from HKD 30,504,000 in 2022, reflecting a growth of approximately 121.5%[34] - Basic earnings per share for fiscal year 2023 were HKD 0.1354, up from HKD 0.0609 in fiscal year 2022[46] Revenue and Sales - Total reported segment revenue for 2023 reached HKD 3,022,310,000, a significant increase from HKD 2,281,576,000 in 2022, representing a growth of approximately 32.5%[20] - Revenue from external customers in North America for 2023 was HKD 271,496,000, while in Europe it was HKD 615,866,000, showing a diversified revenue stream across regions[19] - Major customer A contributed HKD 462,470,000 to total revenue in 2023, up from HKD 311,480,000 in 2022, reflecting a growth of approximately 48.5%[23] - Revenue from goods sales increased to HKD 1,362,732,000 in 2023, up from HKD 1,063,058,000 in 2022, representing a growth of approximately 28.2%[24] Assets and Liabilities - The company's total assets increased to HKD 761,955,000 from HKD 711,225,000, marking a growth of 7.1%[6] - Current assets net value improved to HKD 544,603,000, up from HKD 503,110,000, an increase of 8.2%[6] - The total liabilities reported for 2023 were HKD (217,509,000), a slight increase from HKD (208,274,000) in 2022, indicating a stable financial position[22] - The company's total assets for 2023 were HKD 891,050,000, compared to HKD 854,140,000 in 2022, reflecting a growth of about 4.3%[22] Operational Efficiency - The company reported a decrease in inventory to HKD 144,473,000 from HKD 198,491,000, a reduction of 27.2%[6] - Trade and other receivables increased to HKD 248,009,000 from HKD 178,355,000, reflecting a growth of 38.9%[6] - Trade receivables increased to HKD 223,215,000 in 2023 from HKD 159,402,000 in 2022, reflecting a growth of approximately 39.96%[39] - Trade payables decreased to HKD 148,343,000 in 2023 from HKD 162,873,000 in 2022, a reduction of approximately 8.97%[43] Investments and R&D - The company invested HKD 40,505,000 in new injection molding machines and high-precision laboratory testing equipment to enhance R&D and operational capabilities[49] - The company continues to invest surplus cash into R&D and automation, maintaining its status as a high-tech enterprise in China[47] - The company plans to continue expanding its product offerings with new specifications and models, leading to the write-off of obsolete molds and tools valued at HKD 23,588,000 in 2023[30] Dividends and Employee Costs - The company declared a special dividend of HKD 0.06 per share for 2023, compared to no special dividend in 2022, totaling HKD 30,079,000[31] - Total employee costs rose to HKD 242,236,000 in 2023, up from HKD 209,045,000 in 2022, an increase of approximately 15.9%[28] Compliance and Governance - The company has adopted the standard code for securities trading by directors as per the listing rules, confirming compliance by all directors[68] - The remuneration committee held one meeting during the 2023 fiscal year, consisting of two executive directors and three independent non-executive directors[69] - The audit committee reviewed the group's accounting principles and financial reporting processes, holding two meetings in the 2023 fiscal year[70] - The nomination committee, comprising three independent non-executive directors, convened once during the 2023 fiscal year[71] Future Outlook and Challenges - The group expects significant challenges in 2024 due to geopolitical tensions and economic uncertainties, necessitating rapid responses and new strategies[60] - The group is preparing for the potential new requirements of the Carbon Border Adjustment Mechanism (CBAM) and will consider these in the development of new innovative products[61] Miscellaneous - The group achieved ISO27001 certification on May 4, 2023, demonstrating satisfactory cybersecurity measures to protect data privacy[50] - The company's annual general meeting is scheduled for May 20, 2024, at the InterContinental Hotel in Tsim Sha Tsui, Hong Kong[73]
利民实业(00229) - 2023 - 年度业绩