达力集团(00029) - 2023 - 年度财报

Financial Performance - As of June 30, 2023, the equity attributable to owners amounted to RMB 1,830,193,000, with a net asset value per share of RMB 7.70[15]. - The Group reported a profit of RMB34,332,000 from property rental, down from RMB37,222,000 in the previous year, primarily due to decreased fair value and rental income[44]. - The profit attributable to shareholders for the year was HK$6,634,000, significantly down from HK$31,152,000 in 2022, with basic earnings per share of 2.8 Hong Kong cents[74]. - For the financial year ended June 30, 2023, the Group reported total revenue of HK$79,734,000, a decrease of approximately 8$86,892,000 in 2022[72]. - The gross profit for the same period was HK$54,752,000, down about 12$61,927,000 in 2022, resulting in a gross profit margin of approximately 69%[72]. Liquidity and Financial Position - Total bank borrowings of the Group were nil, down from HK$91,833,000 as of June 30, 2022, resulting in a gearing ratio of nil compared to 4.3$ 346,741,000, with a current ratio of 3.82, up from 1.48 as of June 30, 2022[16]. - The bank balance and deposits stood at HK$212,955,000, down from HK$ 286,481,000 as of June 30, 2022[16]. - The group maintained a debt ratio of 0% as of June 30, 2023, compared to 4.3% on June 30, 2022, indicating no bank borrowings[29]. Exchange and Currency Impact - The Group reported a net exchange loss of HK$10,408,000 due to the depreciation of RMB against HKD, compared to HK$ 2,526,000 in the previous year[15]. - The total comprehensive expense from exchange differences amounted to HK$156,787,000, compared to HK$ 60,881,000 in the previous year[15]. - The depreciation of RMB against HKD was 7.8% during the year, impacting the Group's financial results[75]. - The Group will continue to monitor the impact of RMB fluctuations to mitigate negative effects on financial performance[29]. Real Estate Market and Rental Income - The Group's rental income from investment properties in Shanghai and Beijing totaled RMB71,093,000, a slight decrease of 1% compared to RMB71,978,000 in the previous year[43]. - The overall revenue from property rental in mainland China decreased due to a drop in fair value of investment properties and reduced rental income, translating to a total revenue of HK$79,734,000, down from HK$86,892,000[43]. - The average occupancy rate in Beijing remained stable at 78%, with rental income decreasing by about 10% to RMB24,108,000 from RMB26,675,000[46]. - In Shanghai, the average occupancy rate improved to 89%, with rental income increasing by 4% to RMB46,986,000 from RMB45,303,000[47]. - The fair value of investment properties in Beijing decreased by RMB13,325,000, while in Shanghai, it depreciated by RMB6,883,000[46][47]. Corporate Governance - The Board of Directors consists of six Executive Directors and four Independent Non-executive Directors, with the latter representing more than one-third of the Board[110]. - The Company has established an Internal Corporate Governance Code to facilitate compliance with the Corporate Governance Code and guide Directors and senior management[111]. - The Board is responsible for setting corporate objectives, monitoring performance, and ensuring sound corporate governance and risk management[112]. - The Company has continuously reviewed and enhanced its corporate governance practices, contributing to business growth and sustainability[109]. - The Company has adhered to the principles and code provisions of the Corporate Governance Code as set out in the Listing Rules[109]. Strategic Initiatives and Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10-12% driven by new product launches and market expansion strategies[108]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share within the next two years[108]. - The management team emphasized the importance of sustainability in their new strategies, aiming for a 30% reduction in carbon emissions by 2025[108]. - The Group plans to actively adjust leasing and marketing strategies to maintain occupancy rates and recurring revenues amid a sluggish retail market in Beijing[22]. - The Group plans to implement competitive leasing strategies to attract new tenants and retain existing ones amid sluggish leasing activity in core business districts[55].