Financial Performance - Total revenue for the year 2022 was HKD 9,227,729, a decrease of 16.1% from HKD 10,999,242 in 2021[75] - Gross profit for 2022 was HKD 618,420, down from HKD 682,805 in 2021, reflecting a decline of 9.4%[75] - The net profit for the year was HKD 110,855, a significant decrease of 47.6% compared to HKD 211,321 in the previous year[75] - Basic earnings per share for 2022 were HKD 16.0, down from HKD 41.4 in 2021, representing a decline of 61.3%[75] - Other income for 2022 was HKD 31,430, down from HKD 38,120 in 2021, indicating a decrease of 17.5%[75] - Administrative expenses were reduced to HKD 138,699 from HKD 153,186, a decrease of 9.5%[75] - Financial expenses increased to HKD 56,960 from HKD 52,281, reflecting an increase of 9.3%[75] - The company reported a net loss from other gains and losses of HKD (73,117) compared to a gain of HKD 17,867 in 2021[75] - The company's profit for the year was HKD 110,855,000, a decrease of 47.6% compared to HKD 211,321,000 in the previous year[98] - The total comprehensive income for the year amounted to HKD 42,169,000, down from HKD 58,783,000, representing a decline of 28.3%[98] - The operating profit before tax was HKD 178,881,000, a decrease of 34.7% from HKD 274,305,000 in the previous year[102] Cash Flow and Financing - The cash generated from operations was HKD 383,172,000, compared to a cash outflow of HKD 459,626,000 in the previous year[102] - The net cash from investing activities was HKD (11,176,000), compared to HKD (7,423,000) in the previous year, indicating a worsening in investment cash flow[103] - The net cash used in financing activities was HKD (289,429,000), a significant decrease from HKD 594,907,000 in the previous year[103] - The company's cash and cash equivalents decreased by HKD 71,908,000, compared to an increase of HKD 234,885,000 in the previous year[103] Shareholder Information - The company proposed a final dividend of HKD 0.02 per share, totaling HKD 5,559,000 for shareholders registered on July 4, 2023[7] - The company’s major shareholders include Lin Jiafeng and Lin Jiaming, who collectively hold approximately 66.90% and 66.49% of the issued share capital, respectively[15] Corporate Governance - The company has complied with the corporate governance code as per the listing rules throughout the year ending December 31, 2022[32] - The board will propose the reappointment of Deloitte Touche Tohmatsu as the company's auditor at the annual general meeting[35] - All independent non-executive directors confirmed their independence in accordance with the listing rules[63] Investments and Assets - As of December 31, 2022, the carrying value of investment properties located in Hong Kong, Japan, Singapore, and Thailand was HKD 3,764,871,000, accounting for approximately 43% of the total assets of the group[39] - The net gain from fair value changes of investment properties recognized in the consolidated income statement for the year ended December 31, 2022, was HKD 21,232,000[39] - The valuation of investment properties is based on significant inputs requiring substantial judgment and estimates, including market unit rents and capitalization rates[39] - The company’s assets were less than its liabilities and issued share capital as of December 31, 2022[10] Accounting Policies and Standards - The group has not early adopted the new Hong Kong Financial Reporting Standards and amendments that have been issued but are not yet effective[107] - Revenue is recognized when control of the related goods or services is transferred to the customer, with performance obligations being clearly distinguishable[109] - Contract liabilities refer to the obligation to transfer goods or services for which the group has received consideration from customers[111] - Revenue is measured based on the progress towards complete satisfaction of performance obligations, using the output method[111] - The group will not classify right-of-use assets that do not meet the definition of investment property as investment property[117] - The financial statements are prepared based on historical cost, except for investment properties and certain financial instruments measured at fair value[131] Risk Management and Impairment - The group assesses for objective evidence of impairment in its interests in associates, conducting impairment tests based on the higher of value in use or fair value less costs to sell[123] - The expected credit loss measurement is based on historical data and forward-looking information, reflecting unbiased and probability-weighted amounts[165] Other Financial Information - The company made charitable cash and other donations totaling HKD 94,000 during the year[31] - The company has maintained appropriate insurance for the responsibilities of directors and senior officers throughout the year[14] - The company has not purchased, sold, or redeemed any of its listed securities during the year[34] - The company has not entered into any contracts for management and administrative work for the overall business or any significant part of it during the year[13] - The group recognizes government grants as expenses based on a systematic basis in the profit and loss account[182]
SIS INT'L(00529) - 2022 - 年度财报