Trio Industrial Electronics Group Limited Announces 2024 Annual Results FY2024 Revenue amounted to HK$1,007.5 million Strong performance turned the first-half loss into a full-year profit
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| Trio Industrial Electronics Group Limited
Announces 2024 Annual Results FY2024 Revenue amounted to HK$1,007.5 million Strong performance turned the first-half loss into a full-year profit Resume distribution of final dividend of HK1.2 cents per share Driving the establishment of ‘Greater Asia New Energy Business Circle’ [Hong Kong – 31 March 2025] Trio Industrial Electronics Group Limited (“Trio Group” or the Group”, Stock code: 1710), a leading manufacturer and distributor of advanced industrial electronic components and products in Hong Kong, is pleased to announce the consolidated annual results of the Company and its subsidiaries (the “Group”) for the year ended 31 December 2024 ( “FY2024”). During FY2024, Europe and North America continued to be the Group’s major markets, contributing 87.9% and 6.5% of total revenue respectively. Due to the ongoing economic challenges in the European and American markets, coupled with high interest rates, currency depreciation, and geopolitical uncertainties leading to a slowdown in economic activity, the Group's order volume has also decreased. For the year, revenue of the Group has decreased by 13.2% to approximately HK$1,007.5 million. Gross profit amounted to approximately HK$187.5 million, while gross profit margin was 18.6%. Profit attributable to owners of the Company amounted to approximately HK$8.6 million. The Group has maintained a strong financial position, with cash and cash equivalents (including restricted bank deposits) of approximately HK$156.5 million, and current ratio of 2.2. The Board has recommended a final dividend of HK1.2 cents per ordinary share of the Company for the year ended 31 December 2024 (2023: nil) to the Shareholders. The Group implemented multiple measures to address challenges and enhance efficiency and competitiveness. In business, the Group has strategically expanded to new energy business sector. In alignment with global sustainability initiatives and the PRC’s Belt and Road strategy, the Group has been actively expanding its new energy business in Kazakhstan, and has partnered with Sinooil (China National Petroleum) to set up electric vehicle (“EV”) charging stations and digital advertising facilities across approximately 140 Sinooil gas stations in the country. During the year, three model EV charging stations have already been established in Almaty, integrating Deltrix-branded EV charging infrastructure, energy storage, intelligent car wash facilities, and digital advertising systems, forming a comprehensive EV charging ecosystem. The integrated advertising platform is designed to support Chinese enterprises in expanding their market presence in Central Asia. The Group also involved in production of key electronic components for solar and wind power equipment, as well as the development of the Group’s renowned EV chargers brand, “Deltrix”. The Group is expanding its new energy operations into Uzbekistan, with plans to establish smart charging stations and build electric driverless heavy-duty truck manufacturing facilities to support the country’s transition toward sustainable transportation. This strategic expansion reinforces the Group’s commitment to contributing to the new energy transition in Central Asia. Beyond Central Asia, the Group is expanding its new energy business into Hong Kong and Southeast Asia, with an initial focus on Thailand and Indonesia. For the production capacity, new manufacturing facilities in the PRC and Thailand commenced operation in FY2023 and FY2024, respectively. Additionally, a factory building leased in the UK is set to commence operation in the first half of 2025, further boosting production capacity. Mr. Cecil Wong, the Chairman of Trio Industrial Electronics Group Limited said, “Looking forward, the Group remains cautiously optimistic while navigating global economic uncertainties. We expected huge business opportunities in Hong Kong, Central Asia, and Southeast Asia. Aligned with global sustainability initiatives and the PRC’s Belt and Road strategy, the Group is actively expanding its new energy business in Kazakhstan, establishing it as a key regional hub. In addition, the Group will continue to enhance its charging infrastructure by deploying smart charging stations integrating solar power and energy storage systems. These stations aim to become a comprehensive ecosystem, combining digital advertising, intelligent e-commerce, automated car wash services, and convenience retail stores. The integrated advertising platform will support Chinese enterprises in expanding their market presence in Central Asia, reinforcing the Group’s goal of becoming the leading outdoor media provider in Kazakhstan. We are advancing our vision of creating a ‘Greater Asia New Energy Business Circle’, a strategic network that integrates EV charging infrastructure, energy storage, digital advertising, and intelligent service solutions across multiple regions. Trio Group remains dedicated to seizing the opportunities within the new energy sector, fulfilling the Group's enduring commitment to sustainable development, technological innovation, and long-term value creation for stakeholders." - End -
About Trio Group Trio Industrial Electronics Group is a manufacturer and distributor of advanced industrial electronic components and products in Hong Kong with nearly 40 years of industry experience. It is also the first Hong Kong-based industrial electronic company awarded with the Industry 4.0 maturity certificate - Industry 4.01i level. The Group’s major products include smart chargers, electro-mechanical product and switch-mode power supplies, which are widely used in smart city systems, medical and healthcare sector, as well as renewable energy field. The Group has built up a good reputation and become a trusted supplier to various international well-known brands. The majority of its clients are from Europe and the US while some from Southeast Asia and PRC. In addition, the Group and its partner have developed their own EV charger solution - Deltrix since 2017, which has been launched in the European market in response to the global efforts to develop smart economies. This press release is issued by DLK Advisory Limited on behalf of Trio Industrial Electronics Group Limited. For more details, please contact: Skye Shum - IR Manager skyeshum@triohk.com.hk PR media: DLK Advisory pr@dlkadvisory.com File: 1710_2024AR_press release_EN_20250331
31/03/2025 Dissemination of a Financial Press Release, transmitted by EQS News. |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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