Financial Performance - For the year ended December 31, 2022, the Group's revenue decreased to approximately HK$88.73 million, representing a decrease of approximately 32.89% compared to HK$132.22 million for the year ended December 31, 2021[15]. - The Group's gross profit decreased by approximately HK$15.68 million from approximately HK$49.00 million in 2021 to approximately HK$33.32 million in 2022[15]. - The gross profit margin slightly increased from approximately 37.06% in 2021 to approximately 37.55% in 2022[15]. - The Group recorded a loss of approximately HK$95.33 million for the year ended December 31, 2022, compared to a loss of approximately HK$143.69 million for the year ended December 31, 2021[15]. - Revenue in 2022 decreased by approximately HK$43,487,000, representing a decrease of approximately 32.89% compared to 2021, from HK$132,217,000 to HK$88,730,000[23]. - Gross profit decreased by approximately HK$15,686,000, representing a decrease of approximately 32.01% compared to 2021, from approximately HK$49,002,000 to approximately HK$33,316,000, while gross profit margin slightly increased by approximately 0.49% to 37.55%[24]. Assets and Liabilities - Total assets as of December 31, 2022, were HK$1,101.55 million, a decrease from HK$1,255.42 million in 2021[11]. - Total liabilities as of December 31, 2022, were HK$805.19 million, compared to HK$828.27 million in 2021[11]. - Net assets decreased to HK$296.36 million in 2022 from HK$427.15 million in 2021[11]. - Equity attributable to owners of the Company was HK$286.40 million as of December 31, 2022, down from HK$415.96 million in 2021[11]. Impact of COVID-19 - The Group faced significant challenges due to prolonged COVID-19 outbreaks and related control restrictions affecting business activities and supply chains[14]. - The Chairman's statement highlighted the impact of the pandemic on the economies of the PRC and Hong Kong, which affected the Group's performance[14]. Revenue Breakdown - In 2022, revenue from the manufacturing of electronics products accounted for approximately 75.24% of total revenue, a significant increase from 68.05% in 2021[37]. - Revenue from money lending services decreased by 51.75% to approximately HK$10,617,000 in 2022, down from HK$22,005,000 in 2021[49]. - The nursery education services segment did not contribute any revenue in 2022, down from HK$672,000 in 2021, due to regulatory changes[43]. - The Group's property development and management income accounted for 6.47% of total revenue in 2022, down from 9.56% in 2021[39]. Financial Costs and Impairments - The Group's finance costs increased due to rising interest rates in 2022 and defaults on bond payables[29]. - The net impairment loss on financial assets in 2022 included a net reversal of impairment loss on trade receivables of approximately HK$5,860,000 and net impairment losses on other receivables and loans receivable of approximately HK$7,563,000 and HK$3,590,000, respectively[31]. - The Group's expected credit losses decreased at the end of 2022 due to a reduction in the gross balances of trade receivables by HK$33,493,000 compared to 2021[31]. Management and Future Outlook - The Group's management remains optimistic about the economic recovery in Mainland China and Hong Kong, focusing on property development and management in the coming year[18]. - The Group's stock shops in Lijiang are ready for sale, with plans to launch sales as market demand increases following the recovery of the PRC economy[18]. Shareholder Information - The Directors do not recommend the payment of a final dividend for the year ended December 31, 2022 (2021: nil)[108]. - The Company has a dividend policy that does not specify a predetermined distribution ratio, with dividends subject to the Board's discretion based on financial results and prospects[118][120]. - As of December 31, 2022, Ms. Yeung So Lai and Mr. Lee Chi Shing Caesar each hold 1,152,731,997 shares, representing 56.71% of the total shares in issue[157][160]. - The total number of shares in issue as of December 31, 2022, is 2,032,571,385[160]. Corporate Governance - The Company considers all independent non-executive Directors to be independent, having received annual confirmations of their independence[145]. - No significant transactions or contracts involving directors were reported other than those disclosed in related party transactions[161]. - There were no interests in competing businesses reported by any directors during the year[162].
先机企业集团(00176) - 2022 - 年度财报