鼎益丰控股(00612) - 2023 - 年度财报

Financial Assets and Investments - The company's total listed securities classified as financial assets at fair value through profit or loss amounted to approximately HKD 380,775,000 as of December 31, 2023, compared to HKD 604,588,000 in 2022[15] - The company acquired a 10% equity stake in Shanghai Hongpeng Energy Technology Co., Ltd., which focuses on nuclear fusion technology R&D and commercial applications[16] - The company's investment strategy includes long-term equity holdings, medium-term private equity and venture capital, and short-term trading of securities and other financial instruments, covering sectors such as property development, construction, environmental protection, finance, clean energy, and innovation[17] - The company's investment in Shanghai Hongpeng Energy Technology Co., Ltd. amounted to HKD 21,891,000, representing a 2.06% stake[18] - The company holds 14.46% equity in Huayin International Holdings Limited with a market value of HKD 171,930,000 and an unrealized gain of HKD 92,738,000[37] - The company holds 9.76% equity in Chuangye Group (Holdings) Limited with a market value of HKD 94,044,000 and an unrealized gain of HKD 51,046,000[37] - The company holds 0.99% equity in Huizhou Intelligent Technology Group Co., Ltd. with a market value of HKD 91,071,000 and an unrealized gain of HKD 41,954,000[37] - The company holds less than 0.01% equity in Hong Kong Exchanges and Clearing Limited with a market value of HKD 8,040,000 and an unrealized gain of HKD 57,000[37] - The company holds less than 0.01% equity in Tencent Holdings Limited with a market value of HKD 11,744,000 and an unrealized gain of HKD 52,000[37] - The company's investment in Huayin International Holdings Limited has a market value of HKD 422,010,000, representing a 342,818,000 HKD gain from the cost of HKD 79,192,000, with a capital ratio of 14.46%[54] - The company's investment in Chuangye Group (Holdings) Limited has a market value of HKD 72,100,000, representing a 29,102,000 HKD gain from the cost of HKD 42,998,000, with a capital ratio of 11.46%[54] - The company's investment in Tianma Bearing Group Co., Ltd. (now Huizhou Intelligent Technology Group Co., Ltd.) has a market value of HKD 98,779,000, representing a 27,591,000 HKD gain from the cost of HKD 71,188,000, with a capital ratio of 1.41%[54] - The company's investment in Shanghai Hongpeng non-listed securities as of December 31, 2023, was approximately HKD 22,005,000, classified as equity instruments measured at fair value through other comprehensive income[62] - The company's total assets include significant securities investments in Huayin International Holdings Limited, Chuangye Group (Holdings) Limited, and Huizhou Intelligent Technology Group Co., Ltd., each exceeding 5% of the company's total assets[69] - The company's non-listed equity investments, measured at fair value through other comprehensive income, amounted to HKD 22,005,000 in 2023, up from zero in 2022[137] - The company holds a 10% stake in Shanghai Hongpeng Energy Technology Co., Ltd., with a fair value of HKD 22,005,000 and an accumulated unrealized gain of HKD 114,000[139] - The fair value of financial assets measured through profit or loss was HKD 380,775,000 in 2023, down from HKD 604,588,000 in 2022, with a significant portion in Hong Kong-listed equity securities[143] - The company's investment in Hong Kong Exchanges and Clearing Limited (HKEX) had a fair value of HKD 2,993,000 in 2022, representing 0.24% of the company's total assets[152] - The company's investment in Alibaba Group Holding Limited had a fair value of HKD 2,156,000 in 2022, representing 0.29% of the company's total assets[200] Financial Performance and Losses - The company recorded a net loss of approximately HKD 310,932,000 for the year ended December 31, 2023, a decrease of 6.1% compared to the net loss of HKD 331,187,000 in 2022[34] - The company's net loss reduction was partly due to a net gain of approximately HKD 33,196,000 from the sale/write-off of subsidiaries, compared to a net loss of HKD 190,000 in 2022[34] - The company's loss attributable to owners was HK$310,932,000 in 2023, a slight improvement from HK$331,187,000 in 2022[118] - Basic and diluted loss per share remained unchanged at HK$0.20 for both 2023 and 2022, as unexercised share options had an anti-dilutive effect[118] - The pre-tax loss for 2023 was HK$302,526 thousand, an improvement from HK$331,187 thousand in 2022[104] Cash and Bank Balances - The company's bank balances and cash increased to approximately HKD 173,342,000 as of December 31, 2023, representing 16.2$503,908,000 in 2023 from HK$514,683,000 in 2022, with significant additions in vehicles (HK$2,720,000)[120] - Intangible assets decreased to HK$11,509,000 in 2023 from HK$13,301,000 in 2022, mainly due to disposal of subsidiaries[122] Expenses and Costs - The company's financial expenses decreased to HKD 8,797 thousand in 2023 from HKD 16,645 thousand in 2022, primarily due to lower interest expenses on loan notes and bonds[95] - The company's employee benefit expenses increased to HKD 33,975 thousand in 2023 from HKD 29,728 thousand in 2022, including a new HKD 4,335 thousand expense for equity-settled share-based payments[96] - The company recognized an intangible asset impairment loss of HKD 4,811 thousand in 2023, compared to HKD 1,109 thousand in 2022[96] - The company's depreciation expenses for property, plant, and equipment decreased slightly to HKD 12,236 thousand in 2023 from HKD 12,551 thousand in 2022[96] - The company's tax expense for the year 2023 was HK$8,406 thousand, compared to none in 2022[102] - The company's deferred tax expense for 2023 was HK$8,390 thousand[102] - The company's tax impact from unrecognized temporary differences was HK$33,818 thousand in 2023[104] - The company added HKD 2,771 thousand to property, plant, and equipment in 2023, compared to HKD 1,054 thousand in 2022[92] - The total lease cash outflow for the year was HKD 14,653,000, compared to HKD 13,781,000 in 2022, with lease contracts typically ranging from one to three years[132] - Prepayments, deposits, and other receivables totaled HKD 19,315,000 in 2023, up from HKD 11,647,000 in 2022, with non-current assets including lease deposits of HKD 5,381,000[134] Economic and Market Conditions - China's GDP grew by 5.2$15,402 thousand, up from HK$8,682 thousand in 2022[106] - The highest-paid employee received HK$2,364 thousand in 2023, down from HK$4,681 thousand in 2022[113] - The company paid HK$2,037 thousand in insurance premiums for two executive directors in 2023[107] - The company did not provide any joining or departure compensation to directors or top-paid employees in 2023[114] Dividends and Shareholder Returns - The company did not declare any dividends for the year 2023, consistent with 2022[115] Net Asset Value and Share Performance - Net asset value per share decreased to approximately HK$0.63 in 2023 from HK$0.77 in 2022, calculated based on net assets of HK$989,245,000 and 1,561,434,000 issued ordinary shares[117] Impairment and Valuation - Impairment loss of approximately HK$4,811,000 was recognized for the Class 9 regulated activity license in 2023, based on independent valuation[124] - No impairment loss was recognized for cross-border vehicle permits in the fiscal year ending December 31, 2023, compared to a loss of approximately HKD 1,109,000 in 2022[129] Liquidity and Risk Management - The company's liquidity risk management framework maintains sufficient reserves by monitoring forecasted and actual cash flows, with listed securities considered readily realizable[126] Deferred Tax and Tax Uncertainty - The company's deferred tax assets are subject to significant uncertainty, as their recognition depends on future profitability and taxable temporary differences[87]