中电华大科技(00085) - 2023 - 年度业绩

Revenue and Profit Growth - Revenue increased to 3,019,120 thousand HKD in 2023, up from 2,483,114 thousand HKD in 2022, representing a growth of 21.6%[2] - Gross profit rose to 1,298,063 thousand HKD in 2023, compared to 1,112,245 thousand HKD in 2022, a 16.7% increase[2] - Operating profit grew to 757,257 thousand HKD in 2023, up from 631,945 thousand HKD in 2022, a 19.8% increase[2] - Net profit for the year increased to 687,365 thousand HKD in 2023, compared to 532,887 thousand HKD in 2022, a 29.0% rise[2] - Revenue for the year ended December 31, 2023, was HK$3,019.1 million, an increase of 21.6$686.4 million, up 29.2% year-on-year[25] - Total sales volume increased by 6.9% year-over-year to 3,019.1 million HKD, with revenue rising by 21.6%[26] Earnings Per Share and Dividends - Basic earnings per share increased to 33.82 HKD cents in 2023, up from 26.18 HKD cents in 2022, a 29.2% growth[3] - Basic earnings per share were HK33.82 cents, compared to HK26.18 cents in 2022[25] - The company proposed a dividend of HK10.5 cents per share for 2023, up from HK8.0 cents per share in 2022[20] Research and Development - Research and development costs recognized as expenses for 2023 were HK$421.4 million, up from HK$348.1 million in 2022[16] - R&D costs remained at 14.0% of revenue, totaling 421.4 million HKD, with a focus on security chips and IoT applications[27] - Government subsidies for R&D increased by 64.2% to 31.0 million HKD[28] Employee and Administrative Expenses - Employee benefit expenses increased to HK$337.8 million in 2023 from HK$299.2 million in 2022[16] - Administrative expenses increased by 16.4% to 532.8 million HKD, primarily due to higher R&D costs, but decreased as a percentage of revenue to 17.6%[27] Government Grants and Interest Income - Government grants received in 2023 amounted to HK$31.0 million, compared to HK$18.9 million in 2022[15] - Interest income rose to HK$34.5 million in 2023 from HK$18.8 million in 2022[15] Assets and Liabilities - Total assets increased to 4,326,786 thousand HKD in 2023, compared to 4,056,750 thousand HKD in 2022, a 6.7% rise[5] - Contract liabilities stood at 392,756 thousand HKD as of December 31, 2023, with 386,633 thousand HKD expected to be recognized as revenue within one year[13] - Trade receivables within 30 days increased to HK$64.8 million in 2023 from HK$48.9 million in 2022[23] - Trade payables within 30 days decreased to HK$158.3 million in 2023 from HK$358.7 million in 2022[24] - Cash and cash equivalents stood at 1,107.5 million HKD, with 97.9% held in RMB, 1.8% in USD, and 0.3% in HKD[29] - Bank and other borrowings decreased to 496.6 million HKD, all due within one year and denominated in RMB[29] - Net current assets decreased to 1,459.9 million HKD from 1,538.7 million HKD in 2022[29] Sales and Market Performance - Financial card chip sales increased overseas, while SIM card chip sales remained stable and third-generation social security card chip sales declined due to reduced market demand[26] - Average selling price of products increased due to high prices in Q1 2023, despite a decline in prices in the second half of the year[26] - Sales and marketing costs decreased to 2.6% of revenue, down from 3.1% in 2022, with strict cost control measures in place[27] Corporate Governance and Reporting - The 2023 annual report will be published on the company's website (www.cecht.com.cn) and the Hong Kong Exchanges and Clearing Limited website (www.hkex.com.hk) at a later time[35] - The board of directors consists of two non-executive directors, two executive directors, and three independent non-executive directors as of the announcement date[35] Business Overview - The company's main business is the design and sale of integrated circuit chips[9]