Financial Performance - The Group recorded a decrease in gross profit ratio from 13.08% in 2021 to 10.68% in 2022 due to increased material costs and global shortages[7]. - The Group's loss before finance costs and income tax was HK$23,070,000 in 2022, compared to a profit of HK$30,554,000 in 2021[7]. - Revenue for the year ended 31 December 2022 was approximately HK$746.0 million, representing a decrease of 19.5% compared to approximately HK$926.5 million for the year ended 31 December 2021[49]. - Loss attributable to owners of the Company was approximately HK$77.5 million for the year ended 31 December 2022, compared to a loss of approximately HK$25.4 million for the year ended 31 December 2021[49]. - Basic loss per share for the year ended 31 December 2022 was HK15.67 cents, compared to HK6.32 cents for the year ended 31 December 2021[49]. - The Group's finance costs for the year ended 31 December 2022 were approximately HK$28.2 million, compared to approximately HK$28.1 million for the year ended 31 December 2021[49]. - Income tax expense for the year ended 31 December 2022 was approximately HK$12.7 million, compared to HK$9.8 million for the year ended 31 December 2021[49]. - The Group incurred a net loss of HK$77,548,000 attributable to owners of the Company for the year ended 31 December 2022[34]. Revenue Breakdown - Revenue from the media entertainment platform related products segment decreased by 20.97% to approximately HK$92,890,000 in 2022, with segment results declining by 124.59%[7]. - The other multimedia products segment's revenue fell by 50.97% to approximately HK$133,311,000, with segment results decreasing by 67.91%[9]. - Revenue from the satellite TV equipment and antenna products segment was approximately HK$519,753,000, a slight decrease of 3.22% compared to 2021, while segment results decreased by 26.72%[13]. - Revenue from Asia for the year ended 31 December 2022 was approximately HK$172,297,000, representing a 48.15% increase compared to HK$116,297,000 for the year ended 31 December 2021[17]. - Revenue from Europe for the year ended 31 December 2022 was approximately HK$65,982,000, reflecting a 47.31% decrease from HK$125,236,000 for the year ended 31 December 2021[17]. - Revenue from North America for the year ended 31 December 2022 was approximately HK$447,901,000, a 28.49% decrease compared to HK$626,389,000 for the year ended 31 December 2021[21]. - Revenue from South America for the year ended 31 December 2022 was approximately HK$46,827,000, showing a 14.43% growth from HK$40,922,000 for the year ended 31 December 2021[21]. - Revenue from the Middle East for the year ended 31 December 2022 was approximately HK$11,289,000, indicating a 30.46% drop from HK$16,234,000 for the year ended 31 December 2021[17]. Financial Position and Liquidity - As of 31 December 2022, the Group's current liabilities exceeded its current assets by HK$178,964,000, indicating a material uncertainty regarding the Group's ability to continue as a going concern[34]. - The current ratio of the Group decreased to 0.74 in 2022 from 0.99 in 2021, indicating a decline in liquidity[57]. - The Group's total cash and cash equivalents as of December 31, 2022, were HK$79.2 million, down from HK$111.4 million in 2021[57]. - Total borrowings as of December 31, 2022, were approximately HK$370.5 million, a decrease from HK$390.9 million in 2021[57]. - The gearing ratio increased from 38.43% in 2021 to 42.73% in 2022, reflecting a higher level of debt relative to total assets[57]. Corporate Governance - The Company has maintained directors' liability insurance throughout the year, providing appropriate cover for the Directors[133]. - The Group has complied with all mandatory disclosure requirements and code provisions of the Corporate Governance Code for the year ended December 31, 2022[120]. - The Company emphasizes the importance of good corporate governance to enhance shareholder value and ensure long-term benefits[120]. - The Board has adopted a policy to obtain independent views and input, ensuring independent professional advice is available when necessary[178]. - The Company has arranged appropriate insurance coverage for Directors and officers' liabilities, which is reviewed annually[115]. Audit and Compliance - The consolidated financial statements were prepared in compliance with Hong Kong Financial Reporting Standards and provide a true and fair view of the Group's financial position[31]. - The audit was conducted in accordance with Hong Kong Standards on Auditing, ensuring the independence of the auditors[34]. - The audit opinion was not modified despite the material uncertainty related to going concern[34]. - The Audit Committee monitors the integrity of the Company's financial statements and annual reports[151]. - The Audit Committee held 4 meetings during the year ended December 31, 2022, to review annual results and risk management policies[155]. Business Strategy and Future Plans - The Group is exploring new business opportunities and enhancing its product portfolio to meet changing customer demands[9]. - The company plans to focus on exploring new business opportunities in Asia and South America due to their strong performance[21]. - The Group's future plans for material investments are contingent upon obtaining necessary approvals and resolving outstanding matters related to the redevelopment[91]. - The Group is sourcing from suppliers outside the PRC to mitigate the impact of increased freight charges and material costs[9][15]. Employee and Workforce Information - The Group employed a total of 669 full-time employees as of December 31, 2022, a decrease from 700 in 2021[81]. - The gender ratio in the workforce for the year ended December 31, 2022, is Male:Female = 5.5:4.5[178]. - The company appointed Ms. Chen Wei-Hui as an independent non-executive Director, achieving gender diversity on the Board[175]. Risk Management - The Group's expected credit losses (ECLs) for loans to associates were measured using a 12-month ECL approach, reflecting a proactive credit risk management strategy[62]. - The Company emphasizes maintaining and enhancing the effectiveness of its internal control system[192]. - Compliance with applicable laws and regulations by each business unit is monitored[191].
圣马丁国际(00482) - 2022 - 年度财报