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PICO FAR EAST(00752) - 2022 - 年度财报
PICO FAR EASTPICO FAR EAST(HK:00752)2023-02-17 08:33

Financial Performance - Total revenue for the year reached HKD 45.41 billion, an increase of 12.1% compared to HKD 40.52 billion in the previous year[9] - Core operating profit rose to HKD 2.089 billion, reflecting a growth of 26.1% from HKD 1.657 billion in the prior year[17] - Net profit attributable to shareholders increased by 18.8% to HKD 1.626 billion, up from HKD 1.369 billion in the previous year[17] - EBITDA grew by 14.5% to HKD 2.986 billion, compared to HKD 2.608 billion in the previous year[17] - Basic earnings per share increased by 18.7% to HKD 0.1313, up from HKD 0.1106 in the previous year[17] - The company proposed a final dividend of HKD 0.060 per share, representing a 20.0% increase from HKD 0.050 per share in the previous year[17] - The return on equity for shareholders improved to 7.6%, up from 6.6% in the previous year[17] Revenue Breakdown - Total revenue from Greater China reached HKD 45.41 billion, accounting for 45.3% of the group's total revenue, down from 53.6% in the previous year[29] - Revenue from the Southeast Asia region increased to 20.9% of total revenue, up from 12.8% in the previous year[32] - The exhibition, project, and brand activation segment generated revenue of HKD 36.89 billion, representing 81.3% of total revenue, with a profit of HKD 1.819 billion[34] Operational Highlights - The company activated over 3,000 projects globally, with operations spanning 35 cities[18] - The group operates 46 permanent offices in 35 cities and employs approximately 2,200 long-term staff[22] - The group has received 45 international awards, showcasing its industry recognition and performance[18] Strategic Initiatives - The group has partnered with Founders Factory to launch a new venture incubation initiative focusing on Web3 and marketing technology startups[31] - The group has enhanced its capital structure to maintain sufficient resilience against financial challenges posed by the pandemic[31] - The group has seen a recovery in the MICE industry, particularly in Southeast Asia and the US, which has helped mitigate the negative impact from the Chinese market[24] - The group has implemented a data-driven approach using AI for decision-making and operational efficiency[27] Digital and Technological Developments - The company launched the HTML5 metaverse platform YAOLAND in collaboration with 263 Network Communications and China Unicom's subsidiary, aiming to create a complete digital consumption model[41] - Existing users of YAOLAND include major brands such as China Mobile, Honeywell, and the British National Gallery, indicating strong market interest[42] - The company partnered with State Farm to leverage gamification and social media to attract millennials and Gen Z audiences, integrating augmented reality technology[44] - The company is actively exploring the potential of NFTs and gamification to enhance user engagement and marketing effectiveness[44] - The company is focused on capturing the vast potential of the metaverse ecosystem in the Chinese market[41] Financial Reporting and Compliance - The company is committed to ensuring accurate financial reporting and compliance with accounting standards regarding lease liabilities and contract assets[48][50] - The company capitalizes contract costs related to existing or specifically identifiable anticipated contracts, which may include direct labor, materials, and other costs directly attributable to the contract[51] - Financial assets and liabilities are recognized at fair value upon becoming a party to the relevant contract, with transaction costs included in the initial measurement[53] - The company has adopted a stock option plan as a reward for directors and eligible employees, with details provided in the financial statements[89] Shareholder Information - Pine Asset Management Limited holds a significant stake of 462,167,186 shares, representing 37.32% of the total issued share capital[108] - FMR LLC controls 123,789,010 shares, accounting for 10.00% of the total issued share capital[108] - Brandes Investment Partners, L.P. has an investment of 99,023,157 shares, which is 8.00% of the total issued share capital[108] - Northern Trust Corporation holds 85,386,000 shares, representing 6.90% of the total issued share capital[108] Environmental and Regulatory Compliance - The company is committed to promoting environmentally sustainable practices and complying with applicable environmental laws[110] - The company has complied with all relevant laws and regulations affecting its business and operations during the year[109] - There were no significant violations of applicable laws and regulations during the year[109] Cash Flow and Investment Activities - Operating cash flow generated was HKD 191,585,000, a decrease of 31.9% from HKD 281,092,000 in the previous year[168] - Net cash generated from operating activities was HKD 148,220,000, down from HKD 239,500,000, reflecting a decline of 38.1%[168] - Cash used in investment activities totaled HKD 128,984,000, compared to HKD 96,211,000 in the previous year, indicating an increase of 33.9%[168] - The company incurred HKD 74,271,000 for the purchase of other intangible assets, which is a 60.3% increase from HKD 46,351,000 in the previous year[168] Audit and Internal Controls - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of October 31, 2022[124] - The group’s internal controls were evaluated to design appropriate audit procedures, although no opinion on their effectiveness was expressed[135] - The group communicated with the audit committee regarding significant audit findings and any material weaknesses identified in internal controls[155]