Financial Performance - The company's net profit reached HKD 213.4 million, an increase of 33% compared to HKD 160.4 million in the previous year[18]. - Total revenue decreased by 1% from HKD 9.07 billion to HKD 9.01 billion[22]. - The net asset value per share increased by 2.7% from HKD 14.6 to HKD 15.0[22]. - Earnings per share rose by 54% from HKD 0.319 to HKD 0.490[22]. - Distribution revenue totaled HKD 8.67 billion, a decline of 1% year-on-year[20]. - SiS Distribution (Thailand) contributed a classified profit of HKD 213.7 million, with a growth rate of 4.6%[20]. - The company recorded a fair value loss of HKD 127.6 million in the Hong Kong commercial property market[23]. - The retained earnings available for distribution to shareholders decreased from HKD 1,078,318,000 in 2023 to HKD 1,047,336,000 in 2024[162]. - The company’s total distributable reserves as of December 31, 2024, amounted to HKD 1,076,522,000[162]. - The company’s ability to declare dividends is contingent upon its operating performance and financial condition[163]. Assets and Liabilities - As of December 31, 2024, the total assets of the group amounted to HKD 8,530,115,000, with total equity of HKD 4,176,197,000 and total liabilities of HKD 4,353,918,000[31]. - The current ratio improved to approximately 1.26 as of December 31, 2024, compared to 1.08 as of December 31, 2023[31]. - Cash and bank deposits at the end of 2024 were HKD 1,438,647,000, an increase from HKD 1,284,363,000 in 2023[31]. - The debt-to-equity ratio decreased to 68% as of December 31, 2024, down from 78% in 2023[32]. Employee and Compensation - The number of employees increased to 1,233 as of December 31, 2024, compared to 1,160 in 2023[34]. - Total employee compensation and benefits for the year amounted to HKD 296,991,000, up from HKD 255,378,000 in 2023[34]. - The employee turnover rate for those under 30 years old is 21.6%, with male turnover at 18.2% and female turnover at 23.9%[113]. - In fiscal year 2024, approximately 54% of employees participated in career development-related training, with an average training time of 3.7 hours per employee[120]. - Average training hours by gender: Male employees received an average of 4.5 hours (61% trained), while female employees received 3.0 hours (49% trained)[125]. Corporate Governance - The board of directors consists of nine members, with five being female, reflecting a commitment to diversity[45]. - The audit committee held four meetings during the year ending December 31, 2024, reviewing the group's financial performance[48]. - The nomination committee met twice in the year ending 2024 to assess the independence of non-executive directors[52]. - The remuneration committee held two meetings during the year to review and determine the compensation for executive directors and senior management[53]. - The company has established a nomination policy effective from January 1, 2019, outlining the criteria for board member selection[41]. - The company recognizes the importance of a diverse board as a competitive advantage, considering various factors such as gender and professional experience[45]. - The audit committee is responsible for monitoring the integrity of financial statements before submission to the board[49]. - The company has appointed Deloitte as the external auditor, with fees for audit services amounting to HKD 5,290,000, tax advisory services at HKD 202,000, and other services totaling HKD 570,000, leading to a total of HKD 6,062,000 for the year ending December 31, 2024[61]. - The company has complied with the corporate governance code as per the listing rules for the year ending December 31, 2024[196]. - All independent non-executive directors have confirmed their independence in accordance with the listing rules[196]. Environmental, Social, and Governance (ESG) - The report covers the environmental, social, and governance (ESG) performance for the fiscal year 2024, from January 1, 2024, to December 31, 2024[73]. - The company has established an ESG governance framework, with the board responsible for overseeing significant ESG issues and performance[80]. - A comprehensive assessment of ESG components has been conducted to understand their importance to stakeholders and the company's operations[84]. - The report adheres to the guidelines set forth by the Hong Kong Stock Exchange for ESG reporting[74]. - The company aims to create long-term value for stakeholders while balancing environmental and social interests[80]. - The report includes measurable key performance indicators to evaluate the effectiveness of ESG policies and management systems[79]. - The company reported a total greenhouse gas emissions of 6,753 tons for the fiscal year 2024, a decrease from 9,923 tons in fiscal year 2023, reflecting a reduction of approximately 32.8%[95]. - Energy consumption for the fiscal year 2024 was 14,106,000 kWh, down from 17,370,000 kWh in fiscal year 2023, indicating a reduction of about 18.5%[97]. - Water usage decreased to 180,782 cubic meters in fiscal year 2024 from 241,882 cubic meters in fiscal year 2023, representing a reduction of approximately 25.3%[97]. - The company maintained zero direct greenhouse gas emissions (Scope 1) from fuel consumption during the reporting period[94]. - Indirect emissions (Scope 2) were recorded at 6,689 tons in fiscal year 2024, down from 9,881 tons in fiscal year 2023, marking a reduction of about 32.2%[95]. - The company has implemented energy systems in its iconic building in Japan to save energy and reduce greenhouse gas emissions, setting an example for other organizations[100]. - The company is committed to sustainable practices, including the recycling of electronic equipment under the Hong Kong WEEE Producer Responsibility Scheme[101]. - The company plans to continue reviewing and developing its ESG policies and goals to improve its ESG performance in the future[89]. - The company has identified key climate-related risks and their potential financial impacts, including increased compliance costs due to stricter environmental regulations in Hong Kong and Japan[105]. Strategic Initiatives - The group plans to expand its distribution business and optimize its capital structure to drive long-term growth[26]. - The management demonstrated resilience and adaptability in response to ongoing global challenges, preparing for sustained performance[26]. - The company aims to enhance operational resilience by diversifying its supply chain and strengthening infrastructure against extreme weather events[108]. - The company plans to expand its range of environmentally friendly products in response to increasing customer demand for sustainable technology[105]. - The company has implemented energy-efficient measures to reduce operational costs and improve business efficiency[108]. Shareholder Information - The company reported a final dividend of HKD 0.02 per share, totaling HKD 5,559,000 for shareholders registered on July 4, 2025[152]. - The company has not entered into any equity-linked agreements during the fiscal year[161]. - The company’s main business includes investment trading and holding, as well as providing corporate management services[150]. - The company’s financial performance and risks faced during the year are detailed in the management discussion and analysis section of the annual report[153]. - The company’s investment properties and related assets are detailed in the financial statements as of December 31, 2024[157]. Compliance and Legal - The company has adhered to relevant laws and regulations, including Bermuda law and the Hong Kong Companies Ordinance[197]. - There were no purchases, sales, or redemptions of the company's listed securities during the year[198]. - The company maintained sufficient public float throughout the year ending December 31, 2024[199]. - No significant events affecting the group occurred after the year-end date and until the date of this report[200].
SIS INT'L(00529) - 2024 - 年度财报