汇聚科技(01729) - 2023 - 年度财报

Company Overview - The Group has over 30 years of experience in providing customized interconnect solutions, with manufacturing facilities located in Shanghai, Suzhou, and Huizhou, PRC[3]. - The Group's product offerings include a variety of copper and optical fiber cable assemblies, digital cable products, and servers, tailored to customer specifications[3]. - The Group's headquarters is located in Hong Kong, with a registered office in the Cayman Islands[10]. - The Group's website is www.time-interconnect.com, providing further information about its services and products[10]. Business Strategy and Vision - The Group aims to become a Tier-1 supplier in sectors such as 5G telecommunications, data communication, healthcare, transport, and industrial markets[6]. - The Group's strategy focuses on maintaining long-term and stable business relationships with market leaders[7]. - The Group's vision is to be recognized as a "Preferred Supplier" capable of delivering world-class quality and services consistently[5]. - The Group aims to diversify its business portfolio and broaden its income sources through proactive investment opportunities[28]. Financial Performance - Revenue for the year ended 31 March 2023 was HK$5,764.8 million, representing a 60.6$3,590.1 million in 2022[11]. - Profit for the year increased by 28.3% to HK$215.9 million, up from HK$168.3 million in the previous year[11]. - Adjusted profit for the year was HK$215.9 million, a 10.6$195.2 million in 2022[11]. - Basic earnings per share rose to 11.1 Hong Kong cents, a 22.0% increase from 9.1 Hong Kong cents in the prior year[11]. - The company reported a significant cash outflow from operations of HK$1,393.4 million, a decrease of 630.8$262.5 million in 2022[11]. - Capital expenditure increased dramatically to HK$227.3 million, up 282.7$59.4 million in the previous year[11]. Market and Product Development - The Group established a new subsidiary, Time X-Ware Technology Limited, to enter the server business, enhancing its product offerings in data centers[16]. - The Group plans to establish a new plant in Mexico to increase market share outside China and Asia, focusing on 5G-related and data center business[21]. - Demand for medical equipment cables is expected to positively impact the Group's orders in FY2023 due to increased health awareness post-pandemic[23]. - The automotive wiring products are anticipated to capture opportunities in the growing electric vehicle market, with a target of 20% new energy vehicle sales by 2025 in China[23]. - The Group aims to expand its server business to leverage the market potential of cloud services and communications in China[23]. Operational Efficiency - The Group emphasizes efficient production capabilities and extensive quality control measures[7]. - The average copper price decreased significantly during the review year, impacting the gross profit margin, which fell to 10.8% from 16.4%[15]. - The overall gross profit margin decreased from 16.4% to 10.8% compared to the Previous Year due to high material costs and the introduction of the server business[40]. - The Group's total operating expenses as a percentage of revenue decreased to 5.5% from 9.0% in the Previous Year[32]. Shareholder and Dividend Information - The Board proposed a final dividend of HK0.5 cents per share for FY2023, down from HK1 cent in FY2022[20]. - The Directors recommended a final dividend of HK0.5 cents per share for FY2023, down from HK1.0 cent in FY2022, totaling approximately HK$9.7 million[46]. - The Company reserves the right to update its Dividend Policy at any time without a legally binding commitment to pay dividends[107]. Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance and financial transparency[94][95]. - The Group's management actively monitors foreign exchange exposure and may consider hedging significant foreign currency risks as necessary[85]. - The Company has established a Remuneration Committee to review the emolument policy and structure for Directors and senior management, meeting at least once a year[151][154]. - The Board currently consists of two executive Directors, one non-executive Director, and three independent non-executive Directors, exceeding the requirement of at least one-third independent non-executive Directors as per Listing Rules[189]. Sustainability and Social Responsibility - The Group has implemented various environmental initiatives, such as using LED lighting and heat recovery systems, and has received multiple recognitions for its sustainability efforts during FY2023[168]. - The Group is committed to reducing carbon emissions and has identified six key United Nations Sustainable Development Goals relevant to its operations[168]. - Charitable donations made by the group during the year ended March 31, 2023, totaled approximately HK$51,900, an increase from approximately HK$45,900 in 2022[121]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25$625 million[101]. - The Group anticipates continued growth in the data center sector due to rising cloud technology utilization and the development of 5G[55]. - The Group's strategy focuses on achieving long-term, steady, and sustainable growth while considering environmental, social, and governance aspects[188].