Financial Performance - The company's total comprehensive expenses for the year amounted to HKD 325,024,000, compared to HKD 197,295,000 in the previous year, reflecting a significant increase [4]. - The basic and diluted earnings per share were HKD 2.694 and HKD 3.200 respectively, indicating a decrease in profitability [3]. - The company reported a pre-tax loss of HKD 202,038,000, compared to a loss of HKD 250,886,000 in the previous year, indicating an improvement in financial performance [9]. - The company reported a loss of approximately HKD 197,419,000 for the fiscal year ending March 31, 2023, indicating significant financial challenges [41]. - The group recorded a loss of approximately HKD 197,419,000, a decrease from HKD 238,636,000 in the previous year [90]. - The net loss for the year 2023 was HKD 197,419,000, compared to a net loss of HKD 238,636,000 in 2022, representing an improvement of 17.3% [4]. - Operating loss decreased to HKD 151,276,000 in 2023 from HKD 212,227,000 in 2022, indicating a reduction of 28.7% [4]. - The company recorded a net loss of approximately HKD 197,419,000 for the year ended March 31, 2023 [180]. Revenue and Business Segments - The agricultural business generated revenue of HKD 89,749,000, up from HKD 81,383,000, showing an increase of approximately 10.6% [9]. - The property investment business reported a revenue of HKD 28,028,000, down from HKD 31,257,000, indicating a decrease of about 10.5% [9]. - The hotel business revenue decreased from HKD 36,707,000 to HKD 28,615,000, a decline of approximately 22.1% [9]. - Revenue from agricultural business increased by 10.3% to approximately HKD 89,749,000, accounting for 61.3% of total revenue [74]. - Revenue for the year 2023 was HKD 146,392,000, a decrease of 1.3% from HKD 149,347,000 in 2022 [4]. - Revenue from the China segment was HKD 56,643,000 in 2023, down from HKD 67,964,000 in 2022, a decline of 16.5% [4]. - Revenue from Bolivia increased to HKD 89,749,000 in 2023, up from HKD 81,383,000 in 2022, reflecting a growth of 10.5% [4]. Assets and Liabilities - The total assets decreased from HKD 2,902,087,000 in the previous year to HKD 2,558,371,000, representing a decline of approximately 11.85% [5]. - The total equity attributable to the company's owners decreased from HKD 1,814,088,000 to HKD 1,489,939,000, a decline of about 17.88% [5]. - The total liabilities decreased from HKD 1,055,347,000 to HKD 1,036,655,000, reflecting a slight reduction of about 1.8% [21]. - As of March 31, 2023, total liabilities amounted to HKD 1,036,655,000, a slight decrease from HKD 1,055,347,000 in the previous year [180]. - The company's net current liabilities were approximately HKD 175,202,000 as of March 31, 2023 [180]. - The current liabilities net amount was approximately HKD 175,202,000 as of March 31, 2023, compared to net current assets of approximately HKD 67,003,000 on March 31, 2022 [91]. - The debt-to-asset ratio was 34.2% as of March 31, 2023, compared to 30.8% on March 31, 2022 [91]. Cash Flow and Financial Support - The company received government subsidies totaling HKD 311,000,000, including HKD 288,000,000 from the Hong Kong government [53]. - A major shareholder has agreed to provide financial support to the company for the next 12 months to ensure operational continuity [130]. - The financial support from a major shareholder is expected to continue for the next 12 months to ensure operational stability [5]. - The company plans to seek further financing arrangements, including funding from related companies [180]. Operational Challenges and Strategies - The company reported a loss of HKD 16,608,000 due to impairment losses on mining rights [49]. - The fair value loss on investment properties amounted to HKD 168,966,000, indicating significant market challenges [49]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency [51]. - The group is considering ceasing operations in the securities investment and financing business to allocate more resources to other divisions [83]. - The company is actively negotiating with potential buyers to sell its hotel properties and/or certain investment properties to improve liquidity [120]. - The company plans to adopt a conservative approach and closely monitor market conditions while considering partnerships with experienced parties in resource business development [114]. Market Conditions and Future Outlook - The average selling price of soybeans increased by 21% to USD 460 per ton [74]. - The benchmark price for manganese ore increased by approximately 2.2% as of March 31, 2023, compared to the previous year [112]. - The company will closely monitor exchange rate fluctuations and take appropriate actions to mitigate foreign exchange risks [124]. - The company anticipates that successful implementation of its business plan may lead to positive cash flow and significantly improve operational performance [116].
润中国际控股(00202) - 2023 - 年度业绩