Financial Performance - For the fiscal year ending September 30, 2024, the company reported total revenue of HKD 736,338,000, an increase of 9.6% from HKD 671,750,000 in the previous year[1] - Gross profit for the same period was HKD 277,440,000, up 32.7% from HKD 209,106,000 year-on-year[1] - Operating profit increased to HKD 123,672,000, representing a growth of 51.7% compared to HKD 81,497,000 in the prior year[1] - The net profit attributable to the company's owners for the year was HKD 100,411,000, a significant rise of 49.8% from HKD 67,054,000 in the previous year[1] - Basic earnings per share increased to HKD 17.82, up from HKD 11.90, reflecting a growth of 49.0%[1] - Total comprehensive income attributable to the company's owners was HKD 113,521,000, compared to HKD 63,883,000 in the previous year, marking an increase of 77.8%[3] - The company's profit attributable to owners for the year ended September 30, 2024, was HKD 100,411,000, compared to HKD 67,054,000 for the year ended September 30, 2023, representing a significant increase[33] - Profit attributable to the owners of the company was approximately HKD 100,411,000, marking an increase of about 49.7% from HKD 67,054,000[48] Assets and Liabilities - Non-current assets totaled HKD 176,357,000, an increase from HKD 144,801,000 in the previous year[5] - Current assets increased to HKD 643,072,000 from HKD 600,194,000, reflecting a growth of 7.1%[5] - The company's total assets less current liabilities amounted to HKD 594,297,000, up from HKD 520,792,000, indicating a growth of 14.1%[5] - The company's equity totalled HKD 583,563,000, an increase from HKD 513,420,000, representing a growth of 13.6%[5] - Trade receivables increased to HKD 221,094,000 as of September 30, 2024, from HKD 168,950,000 as of September 30, 2023, indicating a growth in sales[36] - The company's trade receivables, notes receivable, and other receivables net amount totaled HKD 218,323,000 as of September 30, 2024, up from HKD 178,098,000 as of September 30, 2023, indicating a positive trend in receivables management[36] - Trade payables increased to HKD 55,542,000 in 2024 from HKD 36,555,000 in 2023[38] Taxation and Expenses - The total income tax expense for 2024 was HKD 21,405,000, compared to HKD 13,994,000 in 2023, marking an increase of about 53.0%[23] - The company did not make any provisions for corporate income tax in various jurisdictions, including Singapore and Taiwan, due to the absence of taxable profits for the year ended September 30, 2024[27][28] - The company's corporate income tax rate in China remains at 25% for the year ended September 30, 2024, with a preferential rate of 15% applicable to its subsidiary Zhuhai Zetao, which was recognized as a high-tech enterprise[24] - Administrative expenses rose to approximately HKD 103,667,000, an increase of about 19.0% from HKD 87,143,000, primarily due to higher employee costs[46][47] - The total R&D expenses for the year ended September 30, 2024, were HKD 3,404,000, slightly down from HKD 3,438,000 for the previous year, reflecting ongoing investment in innovation[29] - Employee benefit expenses, including directors' remuneration, amounted to approximately HKD 109,735,000 for the year ended September 30, 2024, up from HKD 92,367,000 for the year ended September 30, 2023[66] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 3.6 cents per share for the year ended September 30, 2024, compared to HKD 2.4 cents per share for the year ended September 30, 2023[32] - The company proposed a final dividend of HKD 0.054 per share for the year ended September 30, 2024, compared to HKD 0.033 per share for the previous year, resulting in a total dividend of HKD 0.090 per share[70] Investments and Future Plans - The group is currently constructing a new manufacturing facility on industrial land acquired in Indonesia, aiming to enhance cost competitiveness and service delivery[50] - The group plans to continue investing in R&D to develop high-quality, environmentally friendly products in collaboration with international chemical companies[52] - As of September 30, 2024, the company had capital commitments of approximately HKD 51,347,000 for the acquisition of properties, machinery, and equipment, significantly up from HKD 11,262,000 as of September 30, 2023[62] - The company entered into an agreement to purchase machinery and production equipment for a new manufacturing facility in Indonesia for USD 4,250,000 (approximately HKD 33,150,000) post-reporting period[64] Compliance and Governance - The group adopted the revised Hong Kong Accounting Standard No. 1 and the revised Hong Kong Financial Reporting Standard No. 2 for the first time this year, impacting the disclosure of accounting policies in the consolidated financial statements[11] - The group has not early adopted new standards that will take effect on January 1, 2024, which may impact future financial reporting[13] - The revised Hong Kong Financial Reporting Standard No. 18 will require entities to categorize all income and expenses into five categories starting from 2027[15] - The group is currently assessing the impact of new standards on the structure of its income statement and cash flow statement[16] - The independent auditor confirmed that the financial statements for the year ending September 30, 2024, are consistent with the audited consolidated financial statements[78] General Information - The group operates in a single reportable segment focused on manufacturing and selling adhesive products for shoe factories[17] - The annual general meeting for the fiscal year ending September 30, 2024, is scheduled to be held on a date determined by the board of directors[77] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[79] - The company expresses gratitude to customers, suppliers, business partners, and shareholders for their support over the past year[80] - The board of directors includes four executive directors and four independent non-executive directors as of the announcement date[81]
星谦发展(00640) - 2024 - 年度业绩