Financial Performance - The total revenue for 2024 was HKD 9.573 billion, a decrease of 4.1% compared to HKD 9.987 billion in the previous year[3]. - The profit attributable to shareholders for 2024 was HKD 910 million, down 26.1% from HKD 1.231 billion in 2023, with a loss of HKD 7 million from property revaluation included[3]. - Basic earnings per share for 2024 were HKD 0.246, a decline of 26.1% from the previous year[3]. - The proposed final dividend for 2024 is HKD 0.128 per share, resulting in a total annual dividend of HKD 0.188 per share, down 25.7% year-on-year[3]. - Total revenue for the year ended December 31, 2024, was HKD 9,573 million, a decrease of 4.1% from HKD 9,987 million in 2023[23]. - Annual profit for 2024 was HKD 928 million, down 26.0% from HKD 1,252 million in 2023[24]. - Basic earnings per share for 2024 were HKD 24.6, compared to HKD 33.3 in 2023, reflecting a decline of 26.0%[23]. - The company reported a total comprehensive income of HKD 911 million for 2024, down from HKD 1,279 million in 2023[24]. - The company's profit attributable to shareholders for the year ended December 31, 2024, was HKD 910 million, a decrease of 26.1% or HKD 321 million compared to the previous year[71]. - Total revenue for the year decreased by 4.1% to HKD 9,573 million, with telecommunications service revenue declining by 6.1% to HKD 8,045 million[68]. - EBITDA for the year was HKD 2,001 million, a decrease of 22.2% from HKD 2,571 million in the previous year[68]. Market Position and Services - The market share in the Macau mobile market increased to 53.3%, with nearly 760,000 5G users and a penetration rate of 98.4% as of December 31, 2024[5]. - The broadband market share in Macau reached 96.8%, maintaining the leading position[5]. - Total revenue from telecommunications services was 8,045 million in 2024, down from 8,569 million in 2023, representing a decrease of 6.1%[38]. - Internet business revenue increased to 1,499 million in 2024 from 1,427 million in 2023, reflecting a growth of 5.0%[38]. - Revenue from Hong Kong decreased to 3,715 million in 2024 from 4,136 million in 2023, a decline of 10.2%[44]. - Mobile service revenue increased by 12.7% to HKD 1.09 billion, driven by an increase in postpaid customers and roaming income[74]. - The total number of mobile users reached over 771,000, an increase of approximately 16.3% year-on-year[74]. - International telecommunications business revenue decreased by 19.9% to HKD 2.365 billion, with messaging service revenue down 61.9%[78]. - Corporate business revenue fell by 3.9% to HKD 2.958 billion, primarily due to declines in mainland China and Southeast Asia markets[79]. Operational Developments - The company launched the "Dr. Easy" smart healthcare platform and a smart tourism customer service application in collaboration with the Macau Government Tourism Office[6]. - Over 60 SD-WAN gateways have been established, covering major commercial areas in Greater China and Southeast Asia as of December 31, 2024[8]. - The company upgraded its "Guangdong-Hong Kong-Macao Greater Bay Area" service platform to support VoLTE and launched the "G2G sponsored roaming service platform"[9]. - The group added four new network service nodes in 2024, including locations in Jiangxi, Dubai, Hanoi, and Amsterdam, bringing the total to nearly 170 network service nodes globally, covering 160 countries and regions[11]. - The group obtained internet service licenses in five Southeast Asian countries, including the Philippines, Singapore, Malaysia, Indonesia, and Thailand, enhancing its service capabilities in the region[12]. Financial Health and Liabilities - Current liabilities increased significantly to HKD 5,864 million from HKD 2,547 million in 2023, indicating a liquidity challenge[26]. - The net current liabilities amounted to HKD 2,147 million, compared to a net current asset position of HKD 831 million in 2023[26]. - The company’s total assets less current liabilities were HKD 11,591 million, down from HKD 14,816 million in 2023[27]. - Total liabilities rose to 6,628 million in 2024 from 6,499 million in 2023, an increase of 2.0%[42]. - The net debt-to-equity ratio increased from 17% on December 31, 2023, to 18% on December 31, 2024, with net borrowings rising to HKD 2.296 billion[99]. - The group had cash reserves of HKD 1.611 billion and undrawn committed bank facilities of HKD 9.967 billion as of December 31, 2024, sufficient to cover upcoming debt repayments of HKD 3.492 billion[103]. - The group’s total borrowings included HKD 3.492 billion in guaranteed bonds maturing on March 5, 2025, with an annual interest rate of 6.1%[108]. Corporate Governance and Strategy - The board emphasizes the importance of good corporate governance to enhance investor confidence and protect shareholder interests[125]. - The company is committed to maintaining high standards of corporate governance[134]. - The board is responsible for overseeing the company's strategic direction and performance[134]. - The company aims to enhance shareholder value through effective management and oversight[134]. - The board will continue to focus on long-term growth and sustainability initiatives[134]. Innovation and Sustainability - The group aims to enhance its core competitiveness and achieve high-quality development by focusing on internationalization and technological advancement[16]. - The group plans to strengthen its innovation system and enhance research and development capabilities by collaborating with renowned universities and research institutions in Hong Kong[18]. - The group is committed to environmental sustainability and has set quantifiable environmental goals based on historical data analysis and future forecasts[122]. - The group is accelerating technological innovation and product development to respond to customer needs and maintain industry leadership[119]. - The company emphasizes sustainable development and integrates it into daily operations, aiming to create shared value for stakeholders[119]. Employee and Community Engagement - The total number of employees in the group is 2,512 as of December 31, 2024[121]. - The group actively supports community development through volunteer services and donations, leveraging its expertise in telecommunications and information technology[123]. - The group is focused on employee training and development to ensure they are updated on the latest regulations and market trends[122]. - The group has engaged a third-party consultant to conduct climate-related risk analysis to enhance climate risk management and resilience[122].
中信国际电讯(01883) - 2024 - 年度业绩