建滔集团2024 年报

引領未來LEADINGTHE FUTURE CONTENTS 79Consolidated Statement of Profit or Loss andOther Comprehensive Income80Consolidated Statement ofFinancial Position82Consolidated Statement ofChanges in Equity85Consolidated Statement ofCash Flows88Notes to the ConsolidatedFinancial Statements260Information on the Group’s Properties264Financial Summary 02Corporate Information04Financial Highlights06Chairman’s Statement18Directors’ and Senior Management’sBiographies22Directors’ Report47Corporate Governance Report70Independent Auditor’s Report78Consolidated Statement ofProfit or Loss CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Cheung Kwok Wing(Chairman)Mr. Chang Wing Yiu(Managing Director)Mr. Cheung Kwong KwanMr. Ho Yin SangMr. Cheung Ka ShingMs. Ho Kin FanMr. Chen Maosheng Independent Non-Executive Directors Mr. Cheung Ming ManDr. Chong Kin KiMr. Chan Wing KeeMr. Stanley Chung Wai Cheong COMPANY SECRETARY Mr. Lo Ka Leong PRINCIPAL BANKERS Hang Seng Bank LimitedStandard Chartered Bank (Hong Kong) LimitedThe Hongkong and Shanghai Banking Corporation Limited AUDITOR Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditor CORPORATE INFORMATION HONG KONG LEGAL ADVISERS Allen Overy Shearman Sterling REGISTERED OFFICE JTC (Cayman) Limited94 Solaris Avenue2nd Floor, Camana BayP.O. Box 30745Grand Cayman KY1-1203Cayman Islands JTC (Cayman) Limited94 Solaris Avenue2nd Floor, Camana BayP.O. Box 30745Grand Cayman KY1-1203Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 23/F, Delta House3 On Yiu StreetShek MunShatin, N.T.Hong Kong 323 PRINCIPAL SHARE REGISTRAR Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana Bay, Grand CaymanKY1-1100, Cayman Island Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana Bay, Grand CaymanKY1-1100, Cayman Island BRANCH SHARE REGISTRAR INHONG KONG 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong FINANCIAL HIGHLIGHTS CHAIRMAN’S STATEMENT BUSINESS REVIEW 9% On behalf of the board of directors (the “Board”), I am delighted to present toour shareholders the financial results of Kingboard Holdings Limited and itssubsidiaries (the “Group”) for the year ended 31 December 2024 (the “Period”).Despite the challenges posed by geopolitical conflicts and the impact of highinterest rates on various industries, the Group has effectively navigated thesecomplex market dynamics by leveraging its management experience, verticalvalue-chain advantage, and diversified business portfolio. The Group hasdemonstrated strong resilience and risk resistance capabilities, delivering aset of robust results, highlighted by a 9% year-on-year increase in revenue toHK$43,093.3 million. During the Period, the electronics industry emerged from the bottom of thecycle and ushered in a new round of growth opportunities. This positivemomentum was further driven by the rapid development of the automotiveelectronics and artificial intelligence (AI) sectors, which spurred significantdemand growth. In addition, improved demand forecasts from downstreamclients have prompted active restocking in various downstream sectors. Asa result, both the Laminates and Printed Circuit Boards (“PCB”s) segmentsrecorded year-on-year growth in revenue and profits. The Property Divisiondelivered a stable performance with an annual rental income of overHK$1,400 million, providing the Group with a steady cash inflow. Afterdeducting allowances for credit loss on a loan to Country Garden HoldingsCompany Limited made by the Group and for investments in bondsissued by Guangzhou R&F Properties Co., Ltd., totalling HK$1,420 millionapproximately, as well as the allowance for impairment loss (net of deferredtax) on unsold residential properties in eastern China held by the Group,in the amount of HK$220 million approximately, the Group registered anunderlying net profit of HK$1,622 million. Despite a 29% year-on-year declinein underlying net profit due to provisions for losses related to the propertybusiness, the Group’s foundation remains solid. Both the Laminates andPCBs divisions performed well, and the Group continues to maintain a healthycapital structure and financial position. 29% CHAIRMAN’S STATEMENT BUSINESS REVIEW(continued) The Board has proposed the payment of a final dividend of HK54 centsper share and a special final dividend of HK46 cents per share, subject toapproval by the shareholders. 5446 Turnover Breakdown by Products CHAIRMAN’S STATEMENT PERFORMANCE AI1.110%10%23% Laminates Division:The Period witnessed a gradual recovery in demand inthe traditional consumer electronics market, with particularly notable growthin air conditioning and photovoltaic panels. The rapid development of the AIindustry and the increased integration of electronic and smart applications inthe automotive sector have further boosted the demand for