Financial Performance - Revenue for the year ended December 31, 2024, was 105.1 million in 2023[3] - Gross profit fell to 15.5 million in the previous year[3] - The company reported a net loss of 1.7 million in 2023, representing a decline of 323.5%[3] - Basic and diluted loss per share was 0.0019 per share in 2023[7] - Total comprehensive loss for the year was 254,775 in the previous year[7] - The company reported a total pre-tax loss of 1,857,866 in 2023[24] - The company reported a pre-tax loss of 1,686,198 in 2023, resulting in a basic loss per share of 0.0019 per share in 2023[34] - The company recorded an operating loss of 1.9 million for the fiscal year ending December 31, 2023[61] - The company's net loss margin increased from a net profit margin of 1.6% for the fiscal year ending December 31, 2023, to a net loss margin of 4.7% for the fiscal year ending December 31, 2024[65] Revenue Breakdown - Total revenue for the manufacturing and sales of motorcycles decreased to 95,887,544 in 2023, representing a decline of approximately 24%[20] - Revenue from the manufacturing and sales of spare parts and engines decreased to 9,260,375 in 2023, a decrease of about 10%[20] - The total reported segment revenue for 2024 was 134,209,819 in 2023, indicating a decline of approximately 26.5%[24] - Revenue from Vietnam increased to 36,131,761 in 2023, showing an increase of about 7%[27] - Revenue from Malaysia surged to 6,754,409 in 2023, marking an increase of approximately 199%[27] Assets and Liabilities - Non-current assets decreased to 8.49 million in 2023, reflecting a decline of 8.3%[9] - Current assets totaled 97.61 million in 2023, a decrease of 2.1%[9] - Current liabilities increased to 52.75 million, marking a rise of 6.5%[9] - The company's equity attributable to owners decreased to 51.13 million, a decline of 12.1%[10] - The total amount of trade and other payables rose from 22,220,446 in 2024, an increase of about 128.5%[45] Expenses - Research and development expenses decreased to 2,420,421 in 2023, indicating a reduction of approximately 29%[30] - The total cost of goods sold was 89,657,485 in 2023, reflecting a decrease of about 17.7%[40] - Employee costs totaled 10,642,128 in 2023, marking a reduction of about 12.2%[28] - The total salary and related costs for the year ending December 31, 2024, were approximately 12.0 million in 2023, with a total of 1,014 employees as of December 31, 2024[69] - The total interest expense for 2024 was 2,930,985 in 2023, showing a decrease of approximately 12.6%[28] Inventory and Provisions - The company reported inventory write-downs of 196,144 in 2023, indicating a substantial increase in inventory losses[30] - The company’s total inventory value was 22,853,016 in 2023, reflecting a decrease of about 2.4%[38] - The company reported a total inventory provision of 2,751,978 in 2023, representing an increase of approximately 43.0%[41] Market and Economic Conditions - The overall economic growth rate (GDP) in Vietnam for 2024 is projected to be 7.09%, indicating a recovery in economic activity[50] - The company’s exports to ASEAN countries decreased by 41.0% compared to the previous year, with total sales of scooters and national vehicles amounting to approximately 27.6 thousand units[51] - The company's total sales volume to ASEAN countries decreased, primarily due to conservative consumer purchasing power in Thailand, leading to a decline in overall motorcycle sales compared to the same period last year[53] Future Outlook and Strategy - The company plans to actively explore new models and customers to seek business growth opportunities and enhance revenue[55] - The group plans to launch two to three new or modified motorcycle models in the Vietnamese market, including scooters and national vehicles, to enhance product diversification and profitability[71] - The outlook for 2025 indicates potential market demand growth due to global interest rate cuts and lower commodity prices, although uncertainties remain due to US trade policies[70] - The group is actively seeking to enhance long-term profitability and aims to provide the best returns to its shareholders[72] Dividends and Shareholder Returns - The board did not recommend a final dividend for the year ended December 31, 2024[3] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [90] Corporate Governance and Compliance - The company has maintained sufficient public float as required by listing rules for the year ending December 31, 2024, and as of the announcement date [91] - The annual performance announcement will be published on the Hong Kong Stock Exchange's disclosure website and the company's website [92]
越南制造加工出口(00422) - 2024 - 年度业绩