Financial Performance Overview The group achieved significant revenue growth and a turnaround to profitability in FY2023, driven by strong toy sales and improved operational efficiency Consolidated Income Statement The Group's FY2023 revenue grew 76.7% to HKD 1.272 billion, achieving an annual profit of HKD 120 million driven by strong toy sales | Metric | 2023 (HKD '000) | 2022 (HKD '000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,271,590 | 719,629 | +76.7% | | Cost of sales | (487,506) | (281,574) | +73.1% | | Gross profit | 784,084 | 438,055 | +78.9% | | Operating profit / (loss) | 140,589 | (127,603) | Turnaround to profit | | Profit / (loss) for the year | 120,376 | (208,000) | Turnaround to profit | Consolidated Statement of Comprehensive Income The Group's FY2023 total comprehensive income reached HKD 124 million, a significant improvement from 2022, driven by annual profit and exchange differences | Metric | 2023 (HKD '000) | 2022 (HKD '000) | Change | | :--- | :--- | :--- | :--- | | Profit / (loss) for the year | 120,376 | (208,000) | Turnaround to profit | | Exchange differences arising from translation of overseas subsidiaries | 3,671 | (25,061) | Significant improvement | | Remeasurement of long service payment obligations | (74) | - | New | | Total comprehensive income for the year | 123,973 | (233,061) | Turnaround to profit | | Total comprehensive income attributable to owners of the Company | 110,015 | (240,514) | Turnaround to profit | Consolidated Statement of Financial Position As of December 31, 2023, the Group's total assets, stable liabilities, and slightly increased net assets reflect a sound financial position | Metric | 2023 (HKD '000) | 2022 (HKD '000) | Change | | :--- | :--- | :--- | :--- | | Non-current assets | | | | | Investment properties | 4,933,614 | 5,096,744 | -3.2% | | Other property, plant and equipment | 139,337 | 145,171 | -4.0% | | Deferred tax assets | 52,126 | 34,063 | +53.0% | | Current assets | | | | | Inventories | 58,886 | 23,700 | +148.5% | | Trade receivables | 330,521 | 65,467 | +404.9% | | Cash and bank balances | 1,094,933 | 1,083,324 | +1.1% | | Current liabilities | | | | | Bank loans | 217,175 | 151,200 | +43.6% | | Trade payables | 91,390 | 12,471 | +632.8% | | Non-current liabilities | | | | | Bank loans | 10,400 | 183,975 | -94.4% | | Long service payment obligations | 1,938 | - | New | | Total equity | 6,066,087 | 6,059,899 | +0.1% | Earnings / (Loss) Per Share The Group's FY2023 basic earnings per share improved significantly to 0.50 HK cents from a 10.24 HK cents loss, reflecting enhanced profitability | Metric | 2023 (HK cents) | 2022 (HK cents) | Change | | :--- | :--- | :--- | :--- | | Basic earnings / (loss) per share | 0.50 | (10.24) | Turnaround to profit | | Diluted earnings / (loss) per share | 0.50 | (10.24) | Turnaround to profit | - Basic earnings per share is calculated based on profit attributable to owners of the Company of HKD 10.34 million (2022: loss of HKD 212.779 million) and the weighted average number of ordinary shares outstanding during the year of 2,070,737,000 (2022: 2,078,438,000 shares)109 - Diluted earnings / (loss) per share for the years ended December 31, 2023 and 2022 is equal to basic earnings / (loss) per share, as there were no potential ordinary shares43 Dividends The Board declared a second interim and special interim dividend of 1.5 HK cents per share for FY2023, consistent with the first interim dividend paid | Dividend Type | 2023 (HKD '000) | 2022 (HKD '000) | Per Share (HK cents) | | :--- | :--- | :--- | :--- | | First interim dividend | 31,050 | 31,183 | 1.5 | | Second interim dividend | 31,050 | 31,072 | 1.5 | | Special interim dividend | 31,050 | 31,071 | 1.5 | | Total dividends for the year | 93,150 | 93,326 | | - The Board declared a second interim dividend of 1.5 HK cents per share and a special interim dividend of 1.5 HK cents per share on March 15, 2024, payable on April 24, 202442121 - On August 25, 2023, the Board resolved to pay a first interim dividend of 1.5 HK cents per share, which was paid on September 29, 2023108 Accounting Policies and Standards The Group's financial statements adhere to HKFRS, with recent changes in accounting policies having no material impact on financial results Basis of Preparation Financial statements are prepared under the historical cost convention, with investment properties and financial assets at fair value through profit or loss, adhering to HKFRS and Hong Kong Companies Ordinance disclosure requirements - Financial statements are prepared under the historical cost convention, with investment properties and financial assets at fair value through profit or loss accounted for at fair value71 - Financial statements comply with Hong Kong Financial Reporting Standards (HKFRS), Hong Kong Generally Accepted Accounting Principles, and disclosure requirements of the Hong Kong Companies Ordinance, including applicable Listing Rules disclosures76 Changes in Accounting Policies The Group adopted new or revised HKFRS, notably retrospectively applying guidance on abolishing the MPF-LSP offset mechanism, with no material impact on current or prior period results or financial position - Several new and revised HKFRS have been adopted, effective for annual periods beginning on or after January 1, 20237778 - The Hong Kong SAR Government gazetted the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Ordinance 2022 in June 2022, effective May 1, 2025, abolishing the MPF-LSP offset mechanism4 - The Group changed its accounting policy for long service payment obligations and retrospectively applied new HKICPA guidance on abolishing the MPF-LSP offset mechanism, with immaterial retrospective profit or loss adjustments and no restatement of comparative figures808195 Business Segment Performance The Group's business segments, including toys, property, and investments, show varied performance, with toy sales being the primary growth driver Revenue and Segment Information The Group primarily engages in toy, property investment and management, and investment businesses, with 76.7% total revenue growth to HKD 1.272 billion in 2023, mainly driven by toy sales - The Group primarily engages in the design, research and development, marketing, and distribution of toys and home entertainment products, property investment, property management, and investment holding82 | Revenue Source | 2023 (HKD '000) | 2022
彩星集团(00635) - 2023 - 年度业绩