常达控股2024年度报告

ANNUAL REPORT2024 CONTENTS目錄 2Corporate Information4Financial Highlights5Chairman’s Statement8Management Discussion and Analysis19Corporate Governance Report35Report of the Directors52Independent Auditor’s Report59Consolidated Statement of Profit or Loss60Consolidated Statement of Comprehensive Income61Consolidated Statement of Financial Position62Consolidated Statement of Changes in Equity63Consolidated Statement of Cash Flows65Notes to Financial Statements 公司資料CORPORATE INFORMATION EXECUTIVE DIRECTORS 執行董事 Mr. CHAN Sing Ming Barry(Chairman)Ms. LAW Miu Lan(Chief Executive Officer)Mr. CHAN Tsz Fung 獨立非執行董事 INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. LAM Chor Ki DickMr. LEE Tak CheongMs. LUK Mei Yan 審核委員會 AUDIT COMMITTEE Ms. LUK Mei Yan(Chairman)Mr. LEE Tak CheongMr. LAM Chor Ki Dick 薪酬委員會 REMUNERATION COMMITTEE Mr. LEE Tak Cheong(Chairman)Ms. LAW Miu LanMs. LUK Mei Yan 提名委員會 NOMINATION COMMITTEE Mr. CHAN Sing Ming Barry(Chairman)Mr. CHAN Tsz FungMr. LAM Chor Ki DickMr. LEE Tak CheongMs. LUK Mei Yan COMPANY SECRETARY 公司秘書 Mr. CHAN Wai Shing Kevin REGISTERED OFFICE 註冊辦事處 Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 香港主要營業地點 1/F, Wing Ming Industrial Centre15 Cheung Yue StreetLai Chi Kok, KowloonHong Kong 公司資料CORPORATE INFORMATION PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedBank of China Tower, 1 Garden Road,Hong Kong Citibank (Hong Kong) Limited3 Garden Road, Central,Hong Kong 3 核數師 AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong97927 CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 開曼群島主要股份過戶登記處 Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands HONG KONG BRANCH SHARE REGISTRAR AND TRANSFEROFFICE香港股份過戶登記分處 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong1617 14331433 主席報告CHAIRMAN’S STATEMENT Dear Shareholders, O n b e h a l f o f t h e b o a r d ( t h e “B o a r d” ) o f d i r e c t o r s ( t h e“Directors”) of Cirtek Holdings Limited (the “Company” or“Cirtek”) and its subsidiaries (collectively referred to as the“Group”), I hereby present the annual results of the Group forthe year ended 31 December 2024 (the “year under review”). In 2024, the global economy struggled to move forward andfaced multiple contradictions. The recovery in major marketsaround the world was uneven, with improved economic databut weak consumer confidence in the United States and amoderate recovery in Europe. Despite a slowdown in inflation,factors such as geopolitical issues hindered the pace of the retailmarket’s recovery, and consumer sentiment remained cautious.Intensified market competition and supply chain integration alsoposed challenges to the manufacturing industry. Despite the volatile market environment, the Group leveraged itsglobal presence over the years, which has provided advantagesin seizing business opportunities in the fast-changing market,resulting in continuous growth in sales and productivity duringthe year under review. With the Group’s production bases infive major garment exporting countries, namely Mainland China,India, Bangladesh and Vietnam, as well as emerging locationssuch as Central America, where production has commencedin recent years, we have been able to immediately seize theopportunity of market demand recovery and recorded growth inrevenue from each of the major markets, driving total revenue upby 48% year-on-year to HK$551.1 million. In addition, benefiting from economies of scale and with ourupgraded automation and implementation of cost controlmeasures, we were able to keep our costs within a stable rangeand offset some of the impact of raw material cost fluctuationsto maintain profitability, with gross profit margins increasing to49.1% year-on-year during the year under review. The forward-looking strategic development and firm execution of businessstrategies have strengthened the Group’s resilience and laid thefoundation for future growth. 主席報告CHAIRMAN’S STATEMENT In 2024, in addition to further deepening our global footprint,consolidating our sales network in more than 40 marketsworldwide and our partnerships with existing customers, aswell as enhancing the productivity and operational efficiencyof our major production bases, we also sought to exploredevelopment opportunities. In addition, Primway S.A.R.L(“Primway”), a French company acquired by the Group in 2023,has progressively realised the synergistic effect and injectednew impetus into the European business after the integratio