Financial Performance - The company reported its financial performance for the year ending December 31, 2022, with comprehensive financial statements available on pages 47 to 49 of the report[21]. - The group reported a loss of approximately HKD 13,802,000 for the year ended December 31, 2022, raising significant doubts about its ability to continue as a going concern[25]. - Total revenue for the year ended December 31, 2022, was HKD 45,777,000, compared to HKD 55,822,000 in 2021, representing a decrease of approximately 18%[136]. - Gross profit increased to HKD 22,527,000 from HKD 16,587,000, marking a growth of about 36%[136]. - The total comprehensive loss for the year was HKD 16,707,000, compared to HKD 75,483,000 in the previous year, representing a decrease of approximately 78%[136]. - The annual loss for 2022 was HKD (13.8) million, a significant improvement of 81.8% compared to HKD (75.8) million in 2021[187]. - Basic and diluted loss per share improved to HKD 1.2 from HKD 6.3, a reduction of approximately 81%[136]. Revenue Breakdown - The group’s revenue from ticket distribution was HKD 11,430,000, representing 25.0% of total revenue, an increase from HKD 7,445,000 (13.3%) in the previous year[46]. - Revenue from travel business process management was HKD 32,027,000, accounting for 70.0% of total revenue, up from HKD 26,041,000 (46.7%) year-over-year[46]. - The ticket distribution segment's revenue increased by approximately 54.1% or about HKD 4.0 million to approximately HKD 11.4 million for the year ended December 31, 2022, driven by the recovery of the travel industry[196]. - The travel business process management segment's revenue rose by approximately 23.1% or about HKD 6.0 million to approximately HKD 32.0 million for the year ended December 31, 2022, due to increased transaction volumes[197]. - The other business process management segment's revenue decreased by approximately 89.7% or about HKD 20.0 million to approximately HKD 2.3 million for the year ended December 31, 2022, primarily due to reduced service provision[198]. Shareholder Returns and Dividends - The board emphasizes a dividend policy aimed at providing sustainable returns to shareholders while retaining adequate reserves for future development[8]. - The group did not recommend a final dividend for the year ended December 31, 2022, maintaining a zero dividend policy from the previous year[34]. - As of December 31, 2022, the distributable reserves of the company were approximately HKD 17.7 million, including share premium and retained earnings[39]. Assets and Liabilities - The total assets as of December 31, 2022, were HKD 133.0 million, down from HKD 155.4 million as of December 31, 2021[42]. - Shareholders' equity decreased to HKD 47.8 million from HKD 64.5 million year-over-year[42]. - The total liabilities decreased from HKD 90,901 million in 2021 to HKD 85,134 million in 2022, a decrease of approximately 6.1%[141]. - The company reported a loss of HKD 4,945 million in retained earnings as of December 31, 2022, compared to a profit of HKD 8,857 million in 2021[141]. Corporate Governance and Compliance - The board has established a policy for regular communication and reasonable disclosure of information to shareholders[7]. - The company operates under licenses from various regulatory bodies, ensuring compliance with industry regulations[24]. - The company has adhered to the corporate governance code as set out in the Listing Rules, except for one provision[71]. - The independent non-executive directors confirmed that the ongoing connected transactions were conducted on normal commercial terms and were fair and reasonable[60]. Risk Management - The company has identified key risks affecting its financial condition and operational results, including adverse weather, natural disasters, and economic conditions[15]. - The company is committed to environmental sustainability and has implemented recycling programs for consumables to minimize its environmental impact[19]. Future Outlook - The group anticipates a recovery in the travel products and services segment in the future as travel restrictions ease[44]. - The company plans to continue expanding its travel-related business in the Greater Bay Area and explore suitable opportunities in travel consulting, healthcare, hotels, and other potential service industries[200]. - The overall recovery of the travel industry is expected to generate revenue for the travel products and services segment in 2023[193].
富盈环球集团(01620) - 2022 - 年度财报