Financial Performance - The group reported a profit attributable to shareholders of HKD 113.7 million for the year ended December 31, 2023[6]. - The group's revenue for 2023 decreased by 5.9% to HKD 3.37 billion compared to HKD 3.51 billion in 2022, while gross profit increased by 1.7% to HKD 690.22 million, resulting in a gross margin of 20.9%[20]. - The group's profit for 2023 was HKD 112.8 million, down from HKD 155.4 million in 2022, representing a decline of 27.4%[20]. - Basic earnings per share for 2023 were HKD 0.37, a decrease of 26.0% from HKD 0.50 at the end of 2022[21]. - Revenue from China in 2023 was HKD 1.95 billion, accounting for 58.8% of total revenue, a decrease of 4.7% from HKD 2.04 billion in 2022[20]. - The apparel manufacturing and trading segment generated revenue of HKD 3.19 billion in 2023, a decrease of 6.6% from HKD 3.42 billion in 2022, while profit increased by 1.7% to HKD 162.5 million[24]. - The property investment and development segment's revenue rose to HKD 117.18 million in 2023 from HKD 98.57 million in 2022, indicating a growth of 18.8%[25]. Dividends - The proposed final dividend is HKD 0.12 per share, with a total annual dividend of HKD 0.155 per share[6]. - The company declared an interim dividend of HKD 0.035 per share and proposed a final dividend of HKD 0.12 per share for the fiscal year ending December 31, 2023[65]. - The board of directors will consider various factors, including the company's financial performance and future funding needs, before declaring dividends[71]. - The company has a dividend policy that allows shareholders to share in profits while retaining sufficient reserves for future development[67]. - The company plans to hold its annual general meeting on June 3, 2024, where the proposed final dividend will be subject to shareholder approval[65]. Sustainability and Development - The group aims to enhance its sustainable development goals, focusing on carbon neutrality and raw material traceability[5]. - The company is committed to digital transformation in fashion manufacturing, enhancing operational efficiency and responsiveness[5]. - The group emphasizes product innovation and sustainable development as core strategies, integrating green practices throughout the supply chain[15]. - The group is committed to sustainable development, focusing on green supply chains and reducing carbon emissions through innovative technologies and practices[27]. - The company actively integrates sustainability goals into its business strategy and promotes environmental protection initiatives[124]. Market Presence and Strategy - The group is actively expanding its market presence to reduce risks and enhance sales networks, particularly in Southeast Asia, where revenue contribution increased to 15.8% from 12.0% in 2022[20]. - The company plans to continue optimizing its enterprise portfolio to create innovative collaborative projects with quality partners[16]. - The company is focused on maintaining liquidity and managing retained earnings for future growth opportunities[71]. Financial Position and Liabilities - The non-current liabilities to shareholders' equity ratio stands at 36.9%, with a current ratio of 1.1[6]. - As of December 31, 2023, the total cash and cash equivalents, short-term bank deposits, and other financial assets at fair value amounted to HKD 875.4 million, down from HKD 1,065.2 million as of December 31, 2022[31]. - Bank loans decreased from HKD 1,730 million as of December 31, 2022, to HKD 1,642 million as of December 31, 2023, primarily used for property construction and fixed asset investments in mainland China[31]. - The ratio of non-current liabilities to shareholders' equity improved to 36.9% from 50.2% year-over-year, indicating a stronger capital structure[31]. - Net cash inflow from operating activities for 2023 was approximately HKD 276.2 million, attributed to an increase in operating profit[31]. Corporate Governance - The company has a strong management team with extensive experience in marketing, procurement, and production, contributing to its operational success[58][59]. - The company’s board of directors includes both executive and independent non-executive members, ensuring governance diversity[81]. - The board is committed to maintaining high standards of corporate governance to ensure effective decision-making and long-term sustainable success[118]. - The company has adopted corporate governance practices in compliance with the Hong Kong Stock Exchange's listing rules[118]. - The board consists of nine members, including three executive directors, one non-executive director, and five independent non-executive directors[128]. Risk Management - The company has established a robust risk management and internal control system, covering operational, financial, and compliance risks[190]. - The risk management committee consists of two executive directors and five independent non-executive directors, focusing on identifying and mitigating various risks[175]. - The audit committee and board believe that the group has reasonably executed its existing risk management monitoring effectively[190]. - The internal audit department conducts independent reviews of identified risks and controls, providing reasonable assurance to management and the audit committee[198]. Employee and Board Diversity - The gender ratio among employees is 38% male and 62% female, with plans to increase female representation on the board by December 31, 2024[131]. - The company emphasizes the importance of integrity and diversity in its board composition, considering various factors such as gender, age, and professional experience[165]. - The nomination committee emphasizes the importance of board diversity, considering factors such as gender, age, cultural background, and professional experience[172].
达利国际(00608) - 2023 - 年度财报