Financial Performance - Revenue increased 5.1 times to HKD 5,004.56 million (2022: HKD 817.87 million) [2] - Profit for the year rose 71.7 times to HKD 1,275.46 million (2022: HKD 17.55 million), with basic and diluted earnings per share at HKD 0.8985 and HKD 0.8979 respectively (2022: HKD 0.0124) [3] - Gross profit for the year was HKD 1,987.77 million, compared to HKD 61.68 million in the previous year [3] - Operating profit increased significantly to HKD 1,634.27 million from HKD 85.58 million [3] - Total comprehensive income for the year amounted to HKD 1,267.03 million, compared to HKD 45.48 million in the previous year [5] - The group reported a pre-tax profit of HKD 1,529,180,000 for the year ended March 31, 2023, compared to HKD 26,733,000 in the previous year [14] - The Group's pre-tax profit for 2023 was HKD 268,321,000, significantly higher than HKD 13,220,000 in 2022 [27] - The Group's basic profit attributable to equity shareholders was HKD 1,275,460,000 for 2023, a substantial increase from HKD 17,547,000 in 2022 [31] - Net profit surged 71.7 times to HKD 1.2755 billion, compared to HKD 17.5 million in the previous year [53] Dividends - Proposed final dividend of HKD 0.050 per share (2022: HKD 0.040) and a special dividend of HKD 0.150 to celebrate the group's 10th anniversary [2] - The total dividends declared for the year amounted to HKD 653,105,000, compared to HKD 397,472,000 in the previous year [29] - The board proposed a final dividend of HKD 0.05 per share and a special dividend of HKD 0.15 per share, totaling HKD 0.46 per share for the fiscal year 2022/23 [41] Assets and Liabilities - Net asset value as of March 31, 2023, was HKD 2,981.83 million [7] - Non-current assets as of March 31, 2023, totaled HKD 5,528.18 million, up from HKD 5,355.92 million [6] - Current assets decreased to HKD 2,622.06 million from HKD 5,337.81 million [6] - Current liabilities reduced significantly to HKD 1,235.68 million from HKD 8,486.34 million [6] - Total bank loans decreased to HKD 4,630,054,000 from HKD 4,906,937,000, with secured loans at HKD 4,571,450,000 [38] - As of March 31, 2023, the company had outstanding bank loans of approximately HKD 4.630 billion, with a capital debt ratio of about 155.3% [54] Revenue Segmentation - Revenue from property sales amounted to HKD 4,850,442,000 for the year ended March 31, 2023, compared to HKD 221,659,000 in the previous year [19] - The construction segment reported external customer revenue of HKD (88,954,000) for the year ended March 31, 2023, down from HKD 395,521,000 in the previous year [14] - The property leasing segment generated revenue of HKD 243,072,000 for the year ended March 31, 2023, compared to HKD 200,687,000 in the previous year [14] - The majority of the group's external customer revenue is derived from clients located in Hong Kong [16] - The group has identified a major customer contributing over 10% of revenue, with previous year revenue of HKD 380,740,000 [17] Operational Highlights - The "Ming Chiu Hui" residential project has sold over 92% of its 776 units, generating sales revenue of HKD 4.85 billion [43] - The "Ming Jun" project is being developed into a 22-story mixed-use building with 76 residential units and commercial space, with internal decoration nearing completion [44] - The company is developing a residential and commercial project on the site at Luen Fat Street, with a total floor area of approximately 36,000 square feet, expected to be completed by mid-2025 [45] - The company acquired two properties in North Point with a total site area of approximately 3,240 square feet, planning to redevelop them into residential and commercial projects [46] Market Outlook and Strategy - The company is cautiously optimistic about the market outlook for 2023, continuing to sell remaining units of "Ming Qiao Wei" and "Ming Yu" projects [51] - The company is committed to improving and upgrading existing data center infrastructure to provide reliable services to current clients [51] - The company plans to develop two new high-end data centers in Fanling, with a total floor area of approximately 186,000 square feet, expected to be completed by mid-2025 and mid-2026 [49] Compliance and Governance - The group adopted new or revised Hong Kong Financial Reporting Standards effective from April 1, 2022, with no significant impact on current performance and financial position [10] - The group is currently evaluating the potential impact of new accounting standards that will take effect in 2023 and 2024, concluding that they are unlikely to have a significant impact on operations [12] - The company has adopted the standards set out in Appendix 10 of the Listing Rules regarding securities trading by directors, confirming compliance for the fiscal year 2022/23 [61] - As of the announcement date, the company maintains the minimum public float required by the Listing Rules [62] - The Audit Committee, consisting of four independent non-executive directors, has reviewed the consolidated financial statements for the fiscal year 2022/23 [63] - The auditor, Hong Kong Lixin Dehao CPA Limited, confirmed that the preliminary announcement figures are consistent with the audited financial statements for the fiscal year 2022/23 [64] - The annual report for the fiscal year 2022/23 will be distributed to shareholders and published on the company's and the Stock Exchange's websites [65] - The board expresses gratitude to management, employees, shareholders, business partners, banks, and auditors for their support [66]
佳明集团控股(01271) - 2023 - 年度业绩