卓能(集团)(00131) - 2023 - 年度业绩

Dividends and Earnings - Final dividend per ordinary share for the fiscal year is 2.0 HK cents (2021: 3.0 HK cents)[1] - The company proposed a final dividend of HK$0.03 per share, bringing the total dividend for the year to HK$0.0475 per share, a 35.71% increase compared to the previous year[98] - Total dividends for the year increased to HKD 31,001 thousand in 2023 from HKD 22,844 thousand in 2022, with an interim dividend of 1.75 HK cents per share and a proposed final dividend of 3.00 HK cents per share[168] - The company's basic earnings per share for the year ended June 30, 2023, were HKD 0.03, compared to a loss of HKD 0.23 per share in the previous year[115] Investments and Financial Assets - Investment in Hong Kong securities as of June 30, 2023, has a market value of HKD 48,216,000, with securities purchased during the year totaling HKD 1,007,000 and no securities sold[8] - The fair value of listed securities and perpetual notes/bonds as of June 30, 2023, is HKD 48,216,000 and HKD 69,114,000, respectively[31] - Total investment in the bond market as of June 30, 2023, was HKD 69,114,000, with bonds redeemed during the year amounting to HKD 88,583,000 and bonds purchased totaling HKD 18,126,000[112] - The fair value of investment properties and financial assets at fair value through profit or loss increased by HKD 145,091,000 in 2023[9] - The company's fair value gain on investment properties was HK$145,091,000 in 2023, compared to HK$95,036,000 in 2022[36] - The fair value change of investment properties resulted in a deferred tax liability of HKD 926,091 thousand as of June 30, 2023, compared to HKD 907,610 thousand in 2022[174] Revenue and Profit - Revenue for 2023 is HKD 45,156,000 with a direct cost of HKD 17,404,000, resulting in a gross profit of HKD 27,752,000[9] - The company's gross profit for the year was HK$27,752,000, compared to HK$8,745,000 in the previous year[49] - Net profit before tax for 2023 is HKD 89,193,000, with a tax expense of HKD 36,153,000, resulting in a net profit from continuing operations of HKD 53,040,000[9] - The company's net profit attributable to equity holders was HK$21,202,000 in 2023, a significant improvement from a loss of HK$149,187,000 in 2022[50] - The company's total revenue decreased by 20.4% to HK$45,156,000 in 2023 from HK$56,738,000 in 2022[62] - The company's consolidated profit after tax for the year ended June 30, 2023, was HK$53,040,000, compared to a loss of HK$149,232,000 in the previous year[69] - Pre-tax profit increased significantly to HKD 89,193 thousand in 2023 from HKD 57,245 thousand in 2022[166] - Reportable segment profit increased to HKD 133,884 thousand in 2023 from HKD 74,231 thousand in 2022, with property leasing contributing HKD 140,100 thousand[180] Property and Real Estate - Over 40% of the villas in the first phase of "New Zhao Yuan" have been rented out[14] - The company's investment properties and development properties were valued at HK$6,870,006,000 in 2023, an increase of HK$145,091,000 from 2022[36] - The occupancy rate for Phase II of the residential project remained at 60%, while Phase I had approximately 50% of the units rented out[76][77] - The service apartment occupancy rate in Malaysia is currently 50%, with ongoing property upgrades to improve this rate[90] - The total gross floor area of the residential project in Hangzhou is 122,483 square meters, offering 849 residential units and 22 riverside villas[84] - The company's property in Malaysia includes a 41-story residential building with 417 units, of which 27 unsold units are currently operated as serviced apartments[89] - The company's residential project in Hong Kong includes two phases, with Phase I consisting of 19 villas and Phase II consisting of 4 villas, ranging from 1,450 to 12,000 square feet[80] - The company observed a recovery in real estate demand in 2023, supported by the phased reopening of quarantine-free travel between mainland China and Hong Kong[99] - Over 40% of the villas in the first phase have been rented out[171] - The company sold 9 units post-Chinese New Year, generating sales revenue of RMB 54,180,000[172] Debt and Borrowings - Bank and other borrowings as of June 30, 2023, amount to HKD 1,036,449,000, with net debt at HKD 712,924,000[33] - The company's total debt to equity ratio increased to 15.8% in 2023 from 15.3% in 2022, primarily due to a decrease in bank balances[56] - Interest-bearing borrowings under current liabilities decreased significantly to 233,733 thousand HKD in 2023 from 878,627 thousand HKD in 2022, reflecting debt reduction efforts[136] - Non-current interest-bearing borrowings increased to 630,000 thousand HKD in 2023 from 0 in 2022, showing a shift in debt structure[137] - Total financial costs increased to HKD 39,200 thousand in 2023 from HKD 22,565 thousand in 2022, with a notable rise in bank loan and overdraft interest expenses to HKD 26,845 thousand from HKD 10,817 thousand[184] Market Performance - The company's rental income decreased by 19.6% to HK$40,997,000 in 2023 compared to HK$51,009,000 in 2022[48] - The company's revenue from property leasing and management for the year ended June 30, 2023, was HKD 45,156,000, with HKD 40,997,000 from property leasing and HKD 4,159,000 from property management[128] - Revenue from the Chinese market for the year ended June 30, 2023, was HKD 5,990,000, with HKD 3,154,000 from property leasing and HKD 2,836,000 from property management[128] - Revenue from the Hong Kong market for the year ended June 30, 2023, was HKD 38,354,000, with HKD 37,031,000 from property leasing and HKD 1,323,000 from property management[128] - Revenue from the Malaysian market for the year ended June 30, 2023, was HKD 812,000, all from property leasing[128] - The company's revenue from property leasing and management for the year ended June 30, 2022, was HKD 56,738,000, with HKD 51,009,000 from property leasing and HKD 5,729,000 from property management[128] - The company's revenue from the Chinese market for the year ended June 30, 2022, was HKD 8,516,000, with HKD 4,393,000 from property leasing and HKD 4,123,000 from property management[128] - The company's revenue from the Hong Kong market for the year ended June 30, 2022, was HKD 47,644,000, with HKD 46,038,000 from property leasing and HKD 1,606,000 from property management[128] - The company's revenue from the Malaysian market for the year ended June 30, 2022, was HKD 578,000, all from property leasing[128] - Revenue from external customers in Hong Kong decreased to 38,354 thousand HKD in 2023 from 47,644 thousand HKD in 2022, indicating a decline in local market performance[157] - Revenue from external customers in China decreased to 5,990 thousand HKD in 2023 from 8,516 thousand HKD in 2022, showing a slowdown in the Chinese market[157] - Property leasing revenue decreased to HKD 40,997 thousand in 2023 from HKD 51,009 thousand in 2022, while property management revenue dropped to HKD 4,159 thousand from HKD 5,729 thousand[175] Financial Position and Assets - Total equity attributable to equity holders as of June 30, 2023, is HKD 6,573,558,000, a decrease of 1.8% compared to June 30, 2022[30] - Total assets minus current liabilities increased to 8,339,340 thousand HKD in 2023 from 7,779,109 thousand HKD in 2022, indicating growth in the company's financial position[136] - Investment properties increased slightly to 6,870,006 thousand HKD in 2023 from 6,739,921 thousand HKD in 2022, reflecting stable growth in this asset class[136] - Completed properties held for sale decreased to 359,440 thousand HKD in 2023 from 389,719 thousand HKD in 2022, showing a reduction in inventory[136] - Bank balances and cash decreased to 323,525 thousand HKD in 2023 from 367,383 thousand HKD in 2022, indicating a reduction in liquidity[136] - Total assets slightly decreased to HKD 9,301,113 thousand in 2023 from HKD 9,349,638 thousand in 2022, while total liabilities increased to HKD 2,518,653 thousand from HKD 2,481,095 thousand[180] Expenses and Costs - The company's interest expense increased by 14.9% to HK$18,105,000 in 2023 due to rising bank loan interest rates[35] - Employee costs (including directors' remuneration) decreased to HKD 25,161 thousand in 2023 from HKD 26,684 thousand in 2022, with salaries, wages, and other benefits dropping to HKD 24,385 thousand from HKD 25,893 thousand[161] - Borrowing costs were capitalized at annual interest rates ranging from 2.021$2,437,000 in 2023 from HK$3,080,000 in 2022, with a significant reduction in the 0-30 days category[40] - The company's other payables and accrued expenses increased to HK$152,768,000 in 2023 from HK$131,095,000 in 2022[43] - Trade receivables from third parties decreased to HKD 2,437 thousand in 2023 from HKD 3,080 thousand in 2022[195] - Other receivables increased to HKD 7,936 thousand in 2023 from HKD 6,402 thousand in 2022[195] - Total other receivables and prepayments were HKD 24,811 thousand in 2023, up from HKD 23,266 thousand in 2022[195] Other Income and Expenses - Other income increased to HKD 15,949 thousand in 2023 from HKD 35,888 thousand in 2022, with a significant rise in listed equity investment dividend income to HKD 2,927 thousand from HKD 951 thousand[184] - The company received approximately 432,000 HKD from the Hong Kong government's Anti-epidemic Fund under the Employment Support Scheme to retain employees[159] Internal Controls and Compliance - The company identified minor weaknesses in its internal controls during the annual review and is taking steps to address them[64] - The company's environmental policy compliance has been reviewed, and it adheres to all relevant environmental regulations[65][66] Future Plans - The company has no significant future plans for investments or capital asset purchases beyond existing projects[30]