INVESTOR
RELATIONS

Overview

For the year ended 31 December

 
Profitability data (RMB million)
Revenue (Note 8)
Gross profit (Note 8)
Operating profit (Note 8)
Profit attributable to ordinary equity holders
Basic earnings per Share (RMB cents) (Note 1)
Profitability ratios (%)
Gross profit margin (Note 8)
Operating profit margin (Note 8)
Net profit margin (Note 8)
Effective tax rate (Note 8)
Return on average total equity holders’ equity (Note 2)
Operating ratios (as a percentage of revenue) (%)
Advertising and promotional costs
Staff costs
R&D costs
2024
13,577.2
5,865.4
1,965.5
1,238.4
48.67
2024
43.2
14.5
9.1
31.3
14.1
2024
13.4
10.3
2.9
2023
12,742.9
5,331.2
1,798.0
1,030.0
40.76
2023
41.8
14.1
8.1
24.9
12.0
2023
13.3
9.7
3.1
2022
11,527.9
4,764.3
1,653.0
921.7
36.61
2022
41.3
14.3
8.0
29.4
11.4
2022
12.0
10.8
2.6
2021
9,042.3
3,745.3
1,486.1
908.3
36.35
2021
41.4
16.4
10.0
28.6
12.0
2021
9.9
11.3
2.5
2020
7,172.9
2,791.4
1,022.1
513.0
20.83
2020
38.9
14.2
7.2
30.7
7.3
2020
11.2
11.5
2.9
2019
8,182.7
3,550.4
1,234.0
727.7
30.72
2019
43.4
15.1
8.9
34.8
11.9
2019
14.4
11.0
2.4
2018
6,383.2
2,828.3
1,044.3
656.5
30.19
2018
44.3
16.4
10.3
31.4
12.4
2018
15.2
11.6
2.6
2017
5,113.4
2,244.5
724.5
408.1
18.81
2017
43.9
14.2
8.0
33.5
8.0
2017
12.9
12.1
2.8
2016
5,396.6
2,331.3
917.0
527.9
23.89
2016
43.2
17.0
9.8
33.8
10.8
2016
11.8
10.5
2.6
2015
5,295.1
2,236.7
921.0
622.6
28.97
2015
42.2
17.4
11.8
28.7
13.0
2015
14.7
9.0
2.3
2014
4,777.6
1,946.9
808.7
478.0
21.95
2014
40.8
16.9
10.0
36.9
10.4
2014
13.1
9.4
2.2
2013
4,343.1
1,747.6
895.4
606.0
27.84
2013
40.2
20.6
14.0
30.1
13.8
2013
11.2
9.3
2.6
2012
5,550.3
2,257.7
1,131.3
810.0
37.22
2012
40.7
20.4
14.6
27.0
19.8
2012
11.4
7.1
1.7
2011
5,539.6
2,257.6
1,219.3
966.4
44.41
2011
40.8
22.0
17.4
20.3
26.6
2011
11.3
4.8
1.8
2010
4,457.2
1,811.7
978.0
813.7
37.42
2010
40.6
21.9
18.3
16.8
25.7
2010
11.7
4.7
1.8
2009
3,545.3
1,387.8
701.4
647.5
29.79
2009
39.1
19.8
18.3
7.8
23.0
2009
11.8
5.3
1.6
2008
2,867.2
1,064.3
590.6
508.2
26.84
2008
37.1
20.6
17.7
12.0
34.8
2008
9.1
5.5
1.6

As at 31 December

 
Assets and liabilities data (RMB million)
Non-current assets
Current assets
Current liabilities (Note 9)
Non-current liabilities (Note 9)
Non-controlling interests
Total equity holders’ equity
Asset and working capital data
Current asset ratio (Note 9)
Gearing ratio (%) (Note 3)
Net asset value per Share (RMB) (Note 4)
Average inventory turnover days (days) (Note 5)
Average trade receivables turnover days (days) (Note 6)
Average trade payables turnover days (days) (Note 7)
Overall working capital days (days)
2024
4,738.1
11,230.1
5,282.6
1,983.0
-
8,702.6
2024
2.1
18.1
3.24
68
120
101
87
2023
5,281.0
12,044.4
5,892.3
2,509.8
60.7
8,862.6
2023
2.0
20.3
3.38
90
106
113
83
2022
4,155.4
12,338.1
7,064.3
1,122.5
62.5
8,244.2
2022
1.7
19.6
3.15
90
98
121
67
2021
4,183.0
10,432.4
4,469.5
2,163.5
53.1
7,929.3
2021
2.3
17.4
3.03
77
107
120
64
2020
3,544.4
9,027.3
3,334.3
1,938.7
75.4
7,223.3
2020
2.7
17.2
2.87
74
120
107
87
2019
3,056.7
9,265.9
3,671.1
1,691.2
69.8
6,890.5
2019
2.5
19.1
2.77
77
96
88
85
2018
1,139.0
8,059.6
3,277.8
589.8
4.7
5,326.3
2018
2.5
21.1
2.38
80
105
98
87
2017
1,051.9
7,881.8
2,488.8
1,116.3
107.7
5,220.9
2017
3.2
20.7
2.40
75
130
122
83
2016
956.9
7,217.0
3,029.4
121.7
69.3
4,953.5
2016
2.4
18.4
2.26
51
119
107
63
2015
1,063.2
7,050.8
2,966.4
275.9
19.8
4,851.9
2015
2.4
19.8
2.22
58
98
96
60
2014
917.3
6,947.1
2,350.3
803.8
9.9
4,700.4
2014
3.0
23.4
2.16
71
91
85
77
2013
954.6
6,352.2
2,356.0
443.2
1.9
4,505.7
2013
2.7
20.9
2.07
79
92
76
95
2012
663.3
5,836.2
1,436.8
782.9
5.4
4,274.4
2012
4.1
16.1
1.97
70
74
54
90
2011
495.0
5,000.1
1,400.2
183.6
3.9
3,907.4
2011
3.6
12.6
1.80
63
64
63
64
2010
307.6
3,976.6
892.0
39.9
-
3,352.3
2010
4.5
-
1.54
50
51
74
27
2009
275.0
3,365.6
629.3
27.3
-
2,984.1
2009
5.3
-
1.37
47
54
69
32
2008
198.3
3,079.9
637.6
2.8
-
2,637.8
2008
4.8
4.7
1.21
49
48
44
53
Notes:
  • 1The calculation of basic earnings per Share is based on the profit attributable to ordinary equity holders of the Company divided by the weighted average number of ordinary shares in issue during the relevant year.
  • 2Return on average total equity holders’ equity is equal to the profit attributable to ordinary equity holders of the Company for the year divided by the average of opening and closing total equity holders’ equity.
  • 3The calculation of gearing ratio is based on the total borrowings divided by the total assets of the Group at the end of the year. Figures from 2008 to 2011 is equal to the total borrowings divided by the sum of share capital and reserves of the Company at the end of the year.
  • 4The calculation of net asset value per Share is based on the total number of Shares in issue at the end of the year.
  • 5Average inventory turnover days is equal to the average of opening and closing inventory (or opening and closing inventory of continuing operations in 2024) divided by costs of sales and multiplied by 365 days (or 366 days in 2008, 2012, 2016, 2020 and 2024).
  • 6Average trade receivables turnover days is equal to the average of opening and closing trade receivables (or opening and closing trade receivables of continuing operations in 2024) divided by revenue and multiplied by 365 days (or 366 days in 2016, 2020 and 2024). Figures from 2008 to 2013 is equal to the average of opening and closing trade and bills receivables divided by revenue and multiplied by 365 days (or 366 days in 2012 and 2008).
  • 7Average trade payables turnover days is equal to the average of opening and closing trade payables (or opening and closing trade payables of continuing operations in 2024) divided by cost of sales and multiplied by 365 days (or 366 days in 2016, 2020 and 2024). Figures from 2008 to 2013 is equal to the average of opening and closing trade and bills payables divided by cost of sales and multiplied by 365 days (or 366 days in 2012 and 2008).
  • 8On 30 November 2024, the disposal of KP Global Group was completed. The result of KP Global Group for the period from 1 January 2024 to 30 November 2024 was presented as discontinued operation in the consolidated financial statements and the comparative from 2020 to 2023 were re-presented accordingly. The revenue, gross profit and operating profit presented from 2020 to 2023 were re-presented for the continuing operations. The profitability ratios from 2020 to 2023 were also re-presented using the amount of continuing operations for calculation.
  • 9Due to the adoption of the revised HKFRSs during 2024, the accounting treatment and presentation of certain items and balances in the financial statements have been revised to comply with the new requirements. Accordingly, certain prior year adjustments have been made, and certain comparative amounts have been reclassified and restated to conform with the presentation and accounting treatment of 2024. The balances and ratio for 2020 to 2024 have been adjusted for the effects of the retrospective changes arising from the adoption of revised HKFRSs during 2024.
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