Financial Performance - Total revenue for 2023 was HKD 22,371 million, a decrease of 10.4% from HKD 24,969 million in 2022[17]. - Profit attributable to owners of the company was HKD 403.8 million, reflecting a slight increase of 0.9% compared to HKD 400.3 million in the previous year[17]. - Basic earnings per share rose to HKD 64.52, up 0.9% from HKD 63.97 in 2022[17]. - For the year ended December 31, 2023, the group's revenue decreased by 10.4% to HKD 22,370,616,000 from HKD 24,968,652,000 in the previous year[44]. - The group's gross profit was HKD 1,316,411,000, an increase of 2.4% compared to HKD 1,285,327,000 last year, resulting in a gross margin of 5.9% compared to 5.1% in the previous year[44]. - The net profit attributable to shareholders for the year was HKD 403,801,000, a slight increase of 0.9% from HKD 400,337,000 in the previous year[44]. - The net profit for the year was HKD 585,673, representing an increase of 3.9% compared to HKD 563,907 in 2022[112]. - The total comprehensive income for the year was HKD 577,483, an increase of 20.3% from HKD 479,994 in 2022[112]. - The company reported a total comprehensive income of HKD 479,994,000 for the year ended December 31, 2023, compared to HKD 563,907,000 in 2022, indicating a decrease of about 14.9%[115]. Operational Efficiency - The company successfully managed inventory levels and operating costs, improving cash flow management despite a challenging macroeconomic environment[19]. - The average collection period for receivables increased to approximately 48 days in 2023 from 40 days in 2022[29]. - The inventory turnover period decreased to approximately 31 days in 2023 from 37 days in 2022[55]. - The operating cash inflow for 2023 was HKD 1,039,637,000, up from HKD 995,292,000 in 2022[30]. - The company incurred a loss of HKD 24,657,538,000 in financing activities, a decrease from HKD 34,880,385,000 in 2022, indicating improved cash management[120]. Market Trends and Future Outlook - Global smartphone shipments decreased to 1.17 billion units in 2023, the lowest in a decade, but the smartphone market began to show growth in Q4 2023[19]. - Demand for traditional TV and PC markets was weak, but was offset by rising demand in AI PCs, electric vehicle displays, and 5G infrastructure[20]. - The company anticipates growth in 2024 driven by demand for next-generation AI smartphones, AI PCs, and GPU servers, despite facing challenges from economic uncertainties and high inflation[25]. - The company plans to expand its product offerings, including high-resolution displays and Bluetooth low-energy solutions, to enhance competitiveness in the consumer electronics sector[20]. - The company plans to continue focusing on market expansion and new product development to drive future growth[112]. Dividend and Shareholder Returns - The company maintained a final dividend of HKD 25.00 per share, consistent with the previous year[17]. - The board proposed a final dividend of HKD 0.25 per share, maintaining the total dividend for the year at HKD 0.35 per share[44]. - The company paid dividends totaling HKD 219,043,000 to non-controlling interests in 2023, down from HKD 250,335,000 in 2022[120]. Governance and Compliance - The group prepares its consolidated financial statements in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with the Hong Kong Stock Exchange Listing Rules and the Companies Ordinance[3]. - The board of directors includes 5 executive directors and 4 independent non-executive directors, ensuring a diverse governance structure[166]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the fiscal year ending December 31, 2023[166]. - The audit committee, consisting of 3 independent non-executive directors, held three meetings in 2023 to review the group's financial performance and compliance procedures[172]. - The company has engaged Deloitte as external auditors for the fiscal year, ensuring independent financial oversight[174]. - The company has adopted measurable targets for board diversity, including gender diversity[180]. - The company has implemented a board member diversity policy to improve performance quality[176]. - The company received annual confirmations of independence from four independent non-executive directors, affirming their compliance with listing rules[188]. Assets and Investments - The group held 18 commercial and industrial investment properties in Hong Kong and China, with a total book value of HKD 663,000,000 as of December 31, 2023, down from HKD 706,000,000 in 2022[23]. - The rental income from investment properties amounted to HKD 19,400,000, compared to HKD 20,000,000 in 2022, with an annual return rate of 2.9%[49]. - The company’s total assets as of December 31, 2023, were HKD 3,010,446,000, up from HKD 2,843,287,000 in 2022, marking an increase of approximately 5.9%[115]. - The company’s equity attributable to owners of the parent increased to HKD 2,637,399,000 as of December 31, 2023, from HKD 2,457,217,000 in 2022, representing an increase of approximately 7.3%[115]. - The company’s investment in a joint venture increased by HKD 26,931,000 in 2023, compared to HKD 1,153,000 in 2022, indicating a strategic focus on expanding joint ventures[120].
S.A.S. DRAGON(01184) - 2023 - 年度财报