Financial Performance - Revenue from investment property leasing decreased by 8.5% to approximately HKD 98,200,000 in 2022, compared to HKD 107,300,000 in 2021[22]. - Gross profit and gross margin fell to approximately HKD 343,300,000 and 42.0% in 2022, down from HKD 461,900,000 and 52.9% in 2021[23]. - Total revenue for hotel operations and management services decreased by 21.8% to HKD 130,917,000 in 2022, from HKD 167,471,000 in 2021[24]. - Other income and gains decreased significantly from approximately HKD 211,900,000 in 2021 to HKD 128,100,000 in 2022[50]. - The company's total assets as of December 31, 2022, were HKD 5,261.2 million, down from HKD 7,205.4 million in 2021[53]. - The company's net asset value decreased to HKD 3,187.5 million in 2022 from HKD 3,847.6 million in 2021[53]. - The company reported a basic earnings per share of RMB 387,997,000 for the year, compared to RMB 424,436,000 in the previous year[78]. - Total revenue for the year ended December 31, 2022, was HKD 816,780,000, a decrease of 6.5% from HKD 873,659,000 in 2021[99]. - Gross profit for 2022 was HKD 343,306,000, down 25.7% from HKD 461,926,000 in the previous year[99]. - Net profit for the year was HKD 232,976,000, a decrease of 7.3% compared to HKD 251,260,000 in 2021[99]. Receivables and Credit Risk - The expected credit loss rate for trade receivables is 6.791%, with total expected credit loss amounting to 11,671,000 HKD[3]. - The expected credit loss for overdue receivables over 12 months is 30.728%, indicating significant credit risk[3]. - The company reported a net impairment loss on trade receivables of 10,114 thousand, compared to 59,809 thousand in the previous year, showing a significant reduction[185]. - Trade receivables at the end of the year were 116,742 thousand, slightly down from 117,048 thousand, indicating a marginal decrease of 0.3%[185]. Assets and Liabilities - Long-term receivables amount to approximately 1,832,874,000 HKD (equivalent to about 235,078,000 USD), with an impairment increase of 29,525,000 HKD during the year[5]. - The company's total liabilities decreased to 1,303,500 thousand from 1,683,341 thousand, a reduction of approximately 22.5% year-over-year[191]. - Non-current liabilities totaled HKD 597,158,000, down from HKD 689,491,000 in the previous year, reflecting a reduction of 13.4%[97]. - Cash and cash equivalents significantly decreased to HKD 1,067,711,000 from HKD 3,008,545,000, a decline of 64.5%[101]. Revenue Breakdown - The group's revenue from hotel management services decreased to RMB 371,624,000 in 2022 from RMB 423,392,000 in 2021, representing a decline of approximately 12.2%[67]. - Total revenue from hotel operations increased to RMB 164,800,000 in 2022, up from RMB 142,086,000 in 2021, marking a growth of about 15.9%[67]. - The total revenue for the group was RMB 816,780,000 in 2022, compared to RMB 873,659,000 in 2021, indicating a decline of about 6.5%[67]. - Revenue from hotel management services decreased to 356,689 thousand from 423,392 thousand, a decline of 15.8% year-over-year[165]. - Hotel operations revenue from product sales and dining services increased to 102,267 thousand from 77,806 thousand, a growth of 31.4% year-over-year[165]. Operational Insights - The total number of hotel rooms managed by the company is 28,656, with 112 managed hotels and 6 franchised hotels[14]. - The company operates various hotel brands, including luxury and mid-range options, catering to different customer segments[12][14]. - The company is focused on expanding its hotel management and operation services, targeting a similar customer base as its design and construction management business[20]. - The company has established a new subsidiary for hotel labor dispatch services to enhance the quality of hotel staff provided to customers[91]. - The company plans to expand its market presence and invest in new product development as part of its growth strategy[106]. Financial Management - Financing costs decreased by 38.9% to approximately HKD 33,400,000 in 2022, compared to HKD 54,600,000 in 2021[51]. - The company recorded a tax expense of approximately HKD 66,100,000 in 2022, down from HKD 139,700,000 in 2021[27]. - The total income tax expense for the year was 66,055 thousand, down from 139,664 thousand, representing a decrease of 52.7% year-over-year[173]. - The group incurred a total finance cost of 33,353 thousand HKD, which includes interest on lease liabilities of 23,818 thousand HKD[148]. Strategic Developments - The company completed the acquisition of Wanda Hotel Design and Research Institute Co., Ltd. on April 20, 2022, at zero consideration, enhancing its service offerings[123]. - The acquisition of the hotel design institute is considered a business combination under common control, impacting the financial statements accordingly[105]. - The board proposed to adopt new company bylaws to align with Bermuda applicable laws and listing rules, replacing the existing bylaws[65]. - The group has maintained a conservative foreign exchange risk management approach, with no financial instruments used for hedging foreign exchange risks during the year[56].

INTERIN REPORT 2022中期報告 NDA HOTEL DEVELOPMENT COMPANY LIMITED Stock Code 股份代號: 169 於百慕達註冊成立之有限公司 Incorporated in Bermuda with limited liability Corporate Information 公司資料 | --- | --- | |---------------------------------------------------------------|-----------------------------------------| | | | | BOARD OF DIRECTORS | 董事會 | | Executive Director | 執行董事 | | Mr. Ning Qifeng (Chairman) | 寧奇峰先生 （主席） | | Non-executive Directors | 非執行董事 | | Mr. Ding Benxi Mr. Han Xu Mr. Zhang Lin | 丁本錫先生 韓旭先生 張霖先生 | | Independen ...

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