鹰美(02368) - 2023 - 年度业绩

Financial Performance - The company's revenue increased by 10.4% to HKD 4,051,100,000, compared to HKD 3,668,400,000 in the previous year[2] - The profit attributable to owners for the year was HKD 292,600,000, up 6.6% from HKD 274,600,000 in the previous year[2] - The company's pre-tax profit for the year was HKD 399,444,000, an increase from HKD 363,938,000 in the previous year[3] - Total comprehensive income for the year amounted to HKD 195,429,000, down from HKD 343,882,000 in the previous year[10] - The net profit attributable to the company's owners for 2023 was HKD 300,943 thousand, up from HKD 282,581 thousand in 2022, reflecting a growth of 6.4%[36] - The group achieved a record total sales of HKD 4,051,100,000, an increase of HKD 382,700,000 (10.4%) compared to last year's sales of HKD 3,668,400,000[78] - Gross profit increased by 16.3% to HKD 755,900,000, with the gross profit margin rising from 17.7% to 18.7%[78] - The group recorded a pre-tax profit of HKD 399,400,000, representing a 9.8% increase from HKD 363,900,000 in the previous year, with a stable pre-tax profit margin of 9.9%[78] Dividends - The board proposed a final dividend of HKD 0.08 per share and a special dividend of HKD 0.06 per share, compared to HKD 0.14 and HKD 0.00 respectively in the previous year[2] - The proposed final dividend is HKD 0.08 per share, down from HKD 0.14 in 2022, with an additional special dividend of HKD 0.06 per share, marking a total dividend of HKD 0.44 for the fiscal year, compared to HKD 0.36 in 2022[98] - The company plans to propose a final dividend of HKD 0.08 per share for 2023, down from HKD 0.14 per share in 2022, while a special dividend of HKD 0.06 will be proposed for the first time[50] Assets and Liabilities - Non-current assets totaled HKD 1,412,551,000, slightly up from HKD 1,404,279,000 in the previous year[11] - Current assets decreased to HKD 1,662,196,000 from HKD 1,721,123,000 in the previous year[11] - The total capital value decreased to HKD 1,682,246,000 from HKD 1,721,689,000 in the previous year[13] - Non-current liabilities totaled HKD 150,568 thousand in 2023, significantly higher than HKD 75,283 thousand in 2022, indicating an increase of 99.8%[22] - The company’s net asset value decreased to HKD 1,682,246 thousand in 2023 from HKD 1,721,689 thousand in 2022, a decline of 2.3%[22] Expenses - The company reported a total tax expense of HKD 98,501 thousand for 2023, which is an increase of 21.1% from HKD 81,357 thousand in 2022[48] - Employee benefit expenses rose to HKD 863,326 thousand in 2023, compared to HKD 841,980 thousand in 2022, marking an increase of 2.5%[47] - The cost of sold inventory and subcontracted services rose to HKD 3,295,189,000 in 2023, compared to HKD 3,018,152,000 in 2022, indicating an increase of about 9.2%[110] - The company reported a significant increase in interest expenses by HKD 16,500,000 (321.8%) due to rising loan rates amid the U.S. interest rate hike[140] - The overall tax expense increased by HKD 17,100,000 (21.1%) in line with the rise in profits, resulting in an effective tax rate of 24.7%[140] Cash and Liquidity - The group maintained a strong liquidity position, holding cash and bank balances of HKD 515,400,000 as of March 31, 2023, up from HKD 455,800,000 a year earlier[61] - The debt ratio decreased to 6.4% as of March 31, 2023, down from 11.2% the previous year, indicating improved financial stability[62] - As of March 31, 2023, the group's bank loan facilities amounted to HKD 1,132,000,000, an increase from HKD 990,000,000 in 2022[142] - The total utilized bank loan facilities as of March 31, 2023, were HKD 622,800,000, a decrease from HKD 648,600,000 in the same period of 2022[142] Foreign Exchange and Risk Management - The group faced foreign exchange risks primarily from transactions in USD and RMB, and utilized financial instruments to manage potential risks[63] - The company continues to monitor its foreign exchange risk and employs appropriate tools to manage and mitigate this risk[144] - The company reported a net foreign exchange loss of HKD 26,473,000 in 2023, compared to a net foreign exchange gain of HKD 3,921,000 in 2022[110] Governance and Corporate Structure - The company’s board consists of seven executive directors and four independent non-executive directors, ensuring a diverse governance structure[96] - The company has complied with the corporate governance code as per the listing rules, with minor deviations noted[100] - The annual general meeting is scheduled for August 22, 2023, to approve the proposed dividends[99] Strategic Initiatives - The group plans to focus on diversifying production bases and enhancing talent development to strengthen core competitiveness amid economic uncertainties[85] - The group is set to continue its strategic initiatives in response to the evolving market landscape, emphasizing high-quality development and operational stability[85] - The company has established new production bases in Vietnam, enhancing production efficiency and operational flexibility[136] - The group expanded its production capacity through the acquisition of two factories, which contributed to record sales and enhanced operational flexibility[59] Receivables and Collection Efficiency - The company’s receivables decreased to HKD 345,113 thousand in 2023 from HKD 393,843 thousand in 2022, a decline of 12.4%[50] - Accounts receivable from the top three customers accounted for 64%, 12%, and 22% of total accounts receivable, respectively, compared to 51%, 24%, and 22% in 2022, showing a significant increase in reliance on the largest customer[116] - Accounts receivable decreased to HKD 345,113,000 from HKD 393,843,000, indicating improved collection efficiency[132]