Financial Performance - Revenue for the year ended December 31, 2023, was HKD 5,352,473, a decrease of 14.4% from HKD 6,252,874 in 2022[2] - Gross profit increased to HKD 1,344,744, up 9.4% from HKD 1,228,876 in the previous year[2] - Operating profit rose to HKD 1,039,548, reflecting a growth of 23.4% compared to HKD 842,451 in 2022[2] - Profit before tax for 2023 was HKD 1,033,231, an increase of 23.7% from HKD 835,062 in 2022[2] - Net profit for the year was HKD 829,847, representing a 20.8% increase from HKD 687,096 in the prior year[2] - Basic and diluted earnings per share for 2023 were HKD 1.2260, compared to HKD 1.0151 in 2022[2] - Total comprehensive income for the year was HKD 811,690, up from HKD 666,641 in 2022[4] Revenue Breakdown - Customer contract revenue for 2023 was HKD 5,352,473, a decrease of 14.4% from HKD 6,252,874 in 2022[16] - Revenue from plush toys increased to HKD 2,737,208 in 2023 from HKD 2,287,828 in 2022, representing a growth of 19.7%[16] - Revenue from plastic hand models decreased significantly to HKD 1,927,946 in 2023 from HKD 3,232,899 in 2022, a decline of 40.4%[16] - Total revenue from North America was HKD 2,404,000 in 2023, down from HKD 3,794,341 in 2022, a decrease of 36.6%[19] - Revenue from Japan increased to HKD 1,369,371 in 2023 from HKD 1,115,211 in 2022, a growth of 22.8%[19] - The revenue from the plastic model segment was HKD 1,927,900,000, a decrease from HKD 3,232,900,000 in 2022, accounting for 36.0% of total group revenue[44] - The waterproof cover segment recorded revenue of HKD 393,100,000, down from HKD 485,900,000 in 2022, representing 7.3% of total group revenue[45] - The injection molding products segment saw a revenue increase of 19.4% to HKD 294,200,000, up from HKD 246,300,000 in 2022, making up 5.6% of total group revenue[46] Assets and Liabilities - Current assets increased to HKD 3,222,744 from HKD 2,899,867 in the previous year[5] - Total equity rose to HKD 3,678,744, compared to HKD 3,205,487 in 2022, indicating a growth of 14.7%[9] - Total specific non-current assets in Hong Kong decreased to HKD 1,152,810 in 2023 from HKD 1,256,910 in 2022[20] - Total assets reported for 2023 were HKD 4,612,546,000, an increase from HKD 4,384,667,000 in 2022[23] - Total liabilities reported for 2023 were HKD 933,802,000, down from HKD 1,179,180,000 in 2022[24] - Accounts receivable decreased to HKD 775,505,000 from HKD 946,892,000 in the previous year, reflecting improved collection efforts[36] - Total liabilities decreased to HKD 571,880,000 from HKD 817,445,000, indicating a stronger balance sheet position[40] Operational Highlights - The company reported a decrease in inventory to HKD 815,616 from HKD 944,935 in 2022, a reduction of 13.7%[6] - The company has diversified its customer base, with three major customers accounting for significant portions of revenue in various product segments[17] - The company expects to continue focusing on market expansion and new product development in the upcoming fiscal year[22] - As of December 31, 2023, the group operated 27 factories with an average utilization rate of approximately 84%[48] - The group plans to build a new factory in Indonesia, expected to commence operations in 2025, to enhance production flexibility and market adaptability[49] Dividends and Shareholder Returns - The company plans to declare a final dividend of HKD 0.35 per share, up from HKD 0.30 per share in 2022, reflecting its commitment to shareholder returns[41] - The proposed final dividend for the year ended December 31, 2023, is HKD 0.35 per share, an increase from HKD 0.30 per share in 2022, totaling HKD 236,903,000 compared to HKD 203,060,000 in the previous year[57] Compliance and Governance - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which is currently held by the same individual, Mr. Choi Kwan-yung[54] - The audit committee has reviewed the accounting policies and financial reporting matters for the year ended December 31, 2023[59] - The company has adopted the standard code for securities trading by directors, confirming compliance for the year ended December 31, 2023[55] - The company will suspend share transfer registration from April 29, 2024, to May 3, 2024, to facilitate the upcoming annual general meeting[58]
德林国际(01126) - 2023 - 年度业绩