Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,805,382, a decrease of 1.4% from HKD 1,830,186 in 2023[3] - Gross profit for the year was HKD 476,703, down 16.0% from HKD 567,574 in the previous year[3] - The net profit attributable to the company's owners for the year was HKD 56,010, a significant decline of 65.5% compared to HKD 162,209 in 2023[4] - Basic and diluted earnings per share decreased to HKD 0.60 from HKD 1.74 in the previous year, reflecting a 65.5% drop[4] - Total comprehensive income for the year was HKD 30,193, down 83.0% from HKD 176,570 in 2023[5] - The group reported a profit attributable to equity holders of HKD 56,010,000 in 2024, down from HKD 162,209,000 in 2023[21] - Net profit for the year was HKD 56,010,000, significantly lower than HKD 162,209,000 in 2023, primarily due to challenges faced during the implementation of a new ERP system[29] Assets and Liabilities - Non-current assets totaled HKD 2,168,485, a decrease from HKD 2,237,395 in 2023[6] - Current assets increased to HKD 1,785,810 from HKD 1,741,669 in the previous year, indicating a growth of 2.5%[6] - Total liabilities decreased slightly to HKD 1,496,158 from HKD 1,483,603 in 2023, reflecting a stable financial position[7] - Non-current assets totaled HKD 2,166,154,000 in 2024, a decrease from HKD 2,235,052,000 in 2023[13] - Current assets totaled HKD 1,785,810,000 as of December 31, 2024, compared to HKD 1,741,669,000 in 2023, with cash and cash equivalents at HKD 799,458,000[41] - The total equity value of the group was HKD 2,979,137,000 as of December 31, 2024, slightly down from HKD 2,995,461,000 in 2023[41] Revenue Sources - Revenue from external customers in 2024 was HKD 1,805,382,000, a decrease of 1.4% from HKD 1,830,186,000 in 2023[12] - Total revenue from contracts with customers was HKD 1,805,382,000, with sales of aircraft engines and parts at HKD 1,710,658,000 and service revenue at HKD 94,724,000[15] - Major customers contributing over 10% of total revenue included Customer A with HKD 450,650,000 (down from HKD 552,471,000), Customer B with HKD 371,248,000 (up from HKD 340,209,000), and Customer C with HKD 278,758,000 (down from HKD 322,694,000)[14] Costs and Expenses - The cost of goods sold for the year was HKD 1,274,542,000, an increase from HKD 1,205,791,000 in 2023[16] - The group recorded administrative expenses of HKD 296,300,000 for the year, a decrease from HKD 311,185,000 in the previous year[40] - The depreciation of property, plant, and equipment was HKD 42,229,000 in 2024, compared to HKD 36,286,000 in 2023[16] Operational Developments - The company successfully implemented a new ERP system in its US subsidiary, which initially faced challenges but ultimately improved operational efficiency[31] - The group has initiated the Moby project to enhance its global service and product support network, aiming for improved customer support and technical training[48] - The group is expanding its general aviation product segment by utilizing innovative technologies and advanced product development, including STC for engine conversions[49] - The group is committed to advancing towards World Class Manufacturing (WCM) to optimize processes and enhance operational efficiency[50] Governance and Compliance - The company has implemented and complied with all provisions of the corporate governance code as of December 31, 2024[52] - The audit committee has reviewed the group's full-year performance for the year ending December 31, 2024[57] Miscellaneous - The group recorded a loss of HKD 4,370,000 from associates during the year, compared to HKD 4,112,000 in 2023, along with a profit of HKD 10,097,000 from the partial sale of an associate[39] - There were no purchases, redemptions, or sales of the company's listed securities by the company or its subsidiaries during the year ending December 31, 2024[53] - There have been no significant events occurring after the year ending December 31, 2024, up to the date of this announcement[58] - The chairman expresses gratitude to all directors and staff for their significant contributions and dedication[61]
大陆航空科技控股(00232) - 2024 - 年度业绩