Sales Performance - In the Philippines, the group's sales volume increased significantly by 38% compared to 2022, driven by the successful launch of new Subaru models[14]. - In Singapore, the Subaru business launched the new Subaru Crosstrek E-Boxer, featuring advanced safety technology and a hybrid system, contributing to its popularity[14]. - In Malaysia, Subaru's sales volume decreased by 35% due to the reimplementation of sales tax, but a strong recovery is expected in 2024[14]. - In Thailand, despite government subsidies for electric vehicles hindering sales momentum, Subaru's sales increased by 2% due to targeted marketing efforts[14]. - In Vietnam, Subaru's performance improved by 6% year-on-year despite a 23% decline in the total industry volume (TIV) in 2022[14]. - The group's sales volume in Hong Kong decreased by 13% in 2023, primarily due to semiconductor supply shortages, but strong pre-orders for the new Subaru Solterra electric vehicle are expected to drive future growth[14]. - In China, Subaru sales dropped by 39% compared to 2022 due to stricter emission standards causing a 4-month delivery suspension for the Subaru Forester[14]. Financial Performance - The group's revenue for 2023 was HKD 13.8 billion, a slight increase of 2.6% from HKD 13.5 billion in 2022, primarily due to the acquisition of ETHOZ Group in July 2022[15]. - The group's net profit after tax was HKD 380.6 million, a significant decline of 25.5% compared to HKD 510.7 million in 2022[15]. - EBITDA increased by 7.3% from HKD 1.5 billion to HKD 1.6 billion, with operating profit at HKD 857.9 million, reflecting a 2.2% growth from HKD 839.2 million in 2022[15]. - The net debt ratio was 48.6%, with net debt recorded at HKD 5.9457 billion, up from HKD 3.7832 billion in 2022, primarily due to the inclusion of ETHOZ Group's accounts[15]. - The total dividend for 2023 was HKD 150.998 million, down 25% from HKD 201.331 million in 2022, with a proposed final dividend of HKD 0.045 per share[17]. Operational Highlights - The ETHOZ Group, acquired in July 2022, recorded revenue of HKD 864.2 million in 2023, accounting for 6.3% of the group's revenue[14]. - ZERO, the group's vehicle transportation and logistics division, reported a revenue decline of 1.4% to HKD 7.3 billion, while annual net profit increased by 6.8%[14]. - The group anticipates strong growth in Thailand in 2024 as government subsidies for electric vehicles are reduced[14]. - The company implemented a fuel surcharge in September 2022 to mitigate rising fuel costs due to surging oil prices and yen depreciation[25]. Employee and Governance - The group's total number of employees as of December 31, 2023, was 5,510, a slight decrease of 0.5% from 5,537 in 2022[15]. - The board of directors consists of four executive directors, two non-executive directors, and five independent non-executive directors, ensuring a balanced governance structure[76]. - The company has adopted a diversity policy for board members, which was established on August 30, 2013, to enhance performance quality[76]. - The company recognizes the importance of high standards of corporate governance to protect shareholder interests and enhance financial performance[76]. Environmental and Sustainability Initiatives - The group plans to reduce energy consumption by 5% from the 2021 baseline by 2030, with energy consumption increasing by 4.91% in 2023 compared to 2021[112]. - Total water consumption increased from 111,965 cubic meters in 2022 to 113,069 cubic meters in 2023, maintaining a water intensity of 0.24 cubic meters per square meter[118]. - The group aims to reduce water consumption by 8% from the 2021 baseline by 2030, recognizing the importance of sustainable resource management[119]. - The group acknowledges the global scarcity of resources and emphasizes the importance of sustainable business operations[119]. Community Engagement and Corporate Social Responsibility - TCIL donated engines worth over 7 million Thai Baht to enhance technical capabilities in education institutions in Thailand[186]. - The company has established a whistleblowing policy to allow employees to report fraud and misconduct, ensuring confidentiality and protection against retaliation[171]. - The company continues to focus on corporate social responsibility initiatives aimed at community welfare and environmental protection[172]. - 36 elderly individuals from the Singapore Methodist Welfare Services were given exclusive participation in a signature automotive challenge, promoting intergenerational connections[188].
陈唱国际(00693) - 2023 - 年度财报