东江集团控股(02283) - 2018 - 年度财报

Financial Performance - Revenue for 2018 reached HK$2,298,609,000, an increase of 23.5$1,860,900,000 in 2017[9] - Profit attributable to owners of the Company was HK$350,185,000, up 15.9$301,833,000 in the previous year[9] - Basic earnings per share increased to HK$0.42, compared to HK$0.36 in 2017, reflecting a growth of 16.7%[9] - Proposed final dividend per share rose to HK$0.14 from HK$0.12, marking a 16.7% increase[9] - Gross profit margin decreased to 31.5% from 33.7%, while net profit margin fell to 15.2% from 16.2%[9] - Return on equity slightly decreased to 32.6% from 33.1%[9] - Gross profit increased to HK$724.4 million, a growth of 15.5$627.0 million in 2017, while the gross profit margin decreased to 31.5% from 33.7%[53] - Profit attributable to owners of the Company reached a record high of HK$350.2 million, marking a 16.0$301.8 million in 2017[54] Dividends and Payouts - The Group has proposed an increase in the dividend payout ratio to 47.6%, with a final dividend of HK$0.14 per share, totaling HK$0.20 per share for the year[25] Financial Ratios and Health - Current ratio improved to 195.0% from 187.2%, indicating better short-term financial health[9] - Gearing ratio increased significantly to 31.8% from 10.7%, primarily due to a bank loan of EUR8.6 million[9][10] - Net current assets rose to HK$766,529,000, up from HK$560,251,000 in 2017[9] - The Group maintained net cash of HK$533.1 million, up from HK$452.3 million in 2017, supporting potential merger and acquisition activities[55] - As of December 31, 2018, the Group had a stable order backlog of HK$788.0 million, compared to HK$789.7 million at the end of 2017[55] Revenue Segmentation - The mobile phones and wearable devices segment generated revenue of HK$561.7 million, a 52.2$369.1 million in 2017[51] - The commercial telecommunications equipment segment reported revenue of HK$496.9 million, up 38.3$359.3 million in 2017[51] - The smart home segment achieved revenue of HK$256.3 million, representing a 21.9$210.3 million in 2017[51] - Revenue from the plastic components manufacturing segment amounted to approximately HK$1,606.2 million, a significant increase of 32.6$692.4 million, representing a stable growth of approximately 6.6% compared to HK$649.8 million in the previous year, accounting for approximately 30.1% of the Group's total revenue[60] Operational Efficiency - Inventory turnover days improved to 76 days from 86 days, indicating more efficient inventory management[9] - The Group completed a 30% expansion in production capacity during the year, which is expected to enhance efficiency and improve gross profit margins[73] Strategic Initiatives and Expansion - The Group acquired a large number of new equipment for mold and plastic components manufacturing workshops to cope with rising orders[31] - A newly leased factory in Huizhou, covering approximately 15,000 square meters, is set to commence operations in the first quarter of 2019[31] - The Group is actively seeking resources for building plants in Southeast Asia or considering acquisitions to expedite business scale expansion and reduce geopolitical risks[32] - The Group plans to invest in capacity expansion and pursue suitable investment projects primarily funded by internal resources[137] Challenges and Market Conditions - Despite challenges from the Sino-US trade war, the Group maintained a substantial number of orders, allowing for flexibility in managing cost pressures[32] - The company anticipates a challenging year in 2019 due to ongoing U.S.-China trade tensions and market volatility, although the direct impact on its operations is minimal[155] Management and Leadership - Mr. Yung Kin Cheung has approximately 30 years of experience in plastic mold fabrication and injection molding, serving as CEO since 2000[168] - Mr. Lee Leung Yiu, with around 35 years of experience, co-founded the Group in 1983 and has been responsible for procurement[169] - Mr. Cheung Fong Wa, appointed CFO in 2013, has 31 years of experience in auditing, accounting, and corporate finance[174] - The company has a strong management team with extensive experience in finance and operations across various industries[196] - The management team is committed to enhancing operational efficiency and driving growth through strategic initiatives[196]