Financial Performance - Revenue for the year ended March 31, 2023, was HKD 5,764.8 million, representing a 60.6% increase from HKD 3,590.1 million in the previous year[2] - Net profit for the year was HKD 215.9 million, up 28.3% from HKD 168.3 million, with adjusted net profit increasing by 10.6% to HKD 215.9 million[2] - Basic earnings per share rose to HKD 11.1, a 22.0% increase from HKD 9.1 in the previous year[2] - The operating profit for the year was HKD 316,594,000, compared to HKD 297,220,000 in the previous year, reflecting an increase of about 6.4%[12][14] - The company reported a pre-tax profit of HKD 256,240,000 for the year, up from HKD 232,855,000 in the previous year[13][14] - The adjusted net profit for the year was HKD 215.9 million, reflecting a 20.7% increase from HKD 195.2 million in the previous year[39] - The profit before tax for fiscal year 2023 was HKD 256.3 million, up HKD 23.4 million or 10.0% from HKD 232.9 million in the previous year[50] Revenue Breakdown - The revenue breakdown includes HKD 1,889,886,000 from wire components, HKD 1,370,708,000 from digital wires, and HKD 2,527,782,000 from server products[13] - Revenue from server sales amounted to HKD 2,499,162 thousand in 2023, with additional commission income from server-related components of HKD 28,620 thousand[22] - The group’s revenue from the Chinese market reached HKD 4,033,900,000 for the year ended March 31, 2023, up from HKD 1,664,349,000 in the previous year[18] - The new server business contributed significantly to revenue growth, with total revenue from this segment reaching HKD 2,527.8 million, accounting for 43.8% of total revenue[41] Expenses and Costs - Gross profit increased by 6.2% to HKD 624.7 million, down from HKD 588.1 million, resulting in a gross margin of 10.8%, a decrease of 5.6 percentage points[2] - Cash generated from operations was negative at HKD (1,393.4) million, a significant decline of 630.8% compared to HKD 262.5 million in the previous year[2] - Capital expenditure surged by 282.7% to HKD 227.3 million, up from HKD 59.4 million[2] - Total operating expenses for FY2023 were HKD 314.9 million, a decrease of HKD 7.0 million or 2.2% from HKD 321.9 million in the previous year[47] - Financing costs for the fiscal year 2023 amounted to HKD 55.8 million, an increase from HKD 38.0 million in the previous year[49] Assets and Liabilities - Total assets increased to HKD 4,866.7 million, compared to HKD 2,000.7 million in the previous year[6] - The total liabilities of the group as of March 31, 2023, were HKD 4,962,894,000, with reportable segment liabilities of HKD 1,132,672,000[15] - As of March 31, 2023, the shareholders' equity was approximately HKD 1,132.4 million, an increase of HKD 81.2 million or 7.7% compared to HKD 1,051.2 million on March 31, 2022[58] - The bank loans increased significantly to HKD 1,348.1 million as of March 31, 2023, up by HKD 285.9 million or 26.9% from HKD 1,062.2 million on March 31, 2022[59] Market and Strategic Developments - The company plans to establish a new factory in Mexico to expand its market share outside of China and Asia, aiming to capitalize on the upcoming 5G network opportunities[56] - The company is optimistic about the growth potential of its server business, which is expected to enhance its existing wire and cable products and expand its customer base[57] - The automotive market, particularly electric vehicles, is projected to grow significantly, with the Chinese government targeting 20% of new car sales to be electric vehicles by 2025[56] Employee and Operational Insights - The total employee costs for 2023 were HKD 504,591 thousand, an increase from HKD 459,472 thousand in 2022[25] - The group had approximately 3,949 employees as of March 31, 2023, an increase from 3,232 employees in the previous year, driven mainly by the growth in new server business and recruitment in Huizhou[67] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the fiscal year ending March 31, 2023[69] - The audit committee believes that the audited consolidated financial statements are prepared in accordance with applicable accounting standards and fairly present the group's financial position as of March 31, 2023[74]
汇聚科技(01729) - 2023 - 年度业绩