Financial Performance - For FY2023, the company reported revenue of approximately RMB 247.5 million, a decrease of 86% compared to RMB 1,738.8 million in FY2022[17]. - The Group recorded a profit before income tax of approximately RMB 33.3 million in FY2023, a decrease of approximately RMB 573.8 million from RMB 607.1 million in FY2022[42]. - Profit after tax for FY2023 was approximately RMB 11.0 million, down from approximately RMB 316.4 million in FY2022[43]. - Other income and gains decreased from approximately RMB 204.8 million in FY2022 to approximately RMB 27.8 million in FY2023, primarily due to the absence of land reserve income from Le Ping City in FY2022[44]. - Management expenses increased from approximately RMB 59.8 million in FY2022 to approximately RMB 72.3 million in FY2023, mainly due to higher employee costs and increased provisions for losses on other receivables[45]. - The Group's profit attributable to owners for FY2023 was approximately RMB 18,593,000, a decrease from RMB 259,119,000 in FY2022[141]. - Income tax expenses decreased to approximately RMB 22.3 million in FY2023 from approximately RMB 290.8 million in FY2022, mainly due to decreases in profit before income tax[60]. - The Board resolved not to recommend the payment of a final dividend for FY2023, compared to a final dividend of HK1.0 cent per share and a special dividend of HK1.0 cent per share in FY2022[107]. Sales and Revenue - The residential gross floor area (GFA) sold was 14,648 sq.m., down 95% from 271,241 sq.m. in FY2022, with revenue from residential sales dropping 93% to approximately RMB 119.6 million[19]. - Revenue from car parking space sales surged by 13,714% to approximately RMB 53.2 million compared to RMB 385,000 in FY2022[19]. - The average selling price (ASP) for residential properties increased by 35% to RMB 8,162 per sq.m. from RMB 6,044 per sq.m. in FY2022[19]. - The average selling price (ASP) per square meter for pre-sold units was RMB 6,440 for Phase 1 and RMB 8,159 for Phase 2[41]. - The percentage of pre-sale for Phase 1 was 99%, while Phase 2 was 93%[41]. Operational Developments - The company achieved a pre-sale rate of approximately 99% for the "Yichun Sino Harbour • Guanlan Phase I" project and 93% for Phase II during the reporting period[11]. - The company plans to enhance its commercial management capabilities and has entered into a ten-year lease agreement for a commercial space with a planned GFA of approximately 39,000 sq.m. in Hangzhou[20]. - The company is negotiating property operation services with external property owners in Zhejiang, Hubei, Jiangxi, and Jiangsu provinces, with agreements expected to be finalized within the year[21]. - A co-operation agreement has been established with a technology service provider to develop an integrated intelligent asset management system for commercial properties[21]. - Sino Harbour Holdings Group has signed a commercial space cooperation agreement for a property in Hangzhou with a total construction area of approximately 39,000 square meters, aiming for a ten-year lease operation[22]. Employee and Management Costs - Employee costs, including Directors' emoluments, amounted to approximately RMB 47.7 million in FY2023, an increase from approximately RMB 42.9 million in FY2022[37]. - The Group has 333 employees as of March 31, 2023, reflecting an increase from 311 employees in the previous year[37]. - The Remuneration Committee reviews the Group's emolument policy and structure, considering operating results and individual performance[191]. - The Directors' emoluments are determined by the Board based on their duties, responsibilities, and performance, as well as the Group's results[191]. Financial Position and Ratios - As of March 31, 2023, the Group had no significant contingent liabilities, maintaining a stable financial position[37]. - The gearing ratio has shown a decrease from 35.4% in 2019/20 to 22.5% in 2022/23, indicating improved financial leverage[27]. - The Group's capital and debt ratio as of March 31, 2023, was 22.7%, slightly up from 22.5% as of March 31, 2022[70]. - The total borrowings of the Group as of March 31, 2023, were approximately RMB 455.4 million, a decrease from approximately RMB 466.0 million as of March 31, 2022[67]. - The Group's cash and bank balances as of March 31, 2023, amounted to approximately RMB 434.6 million, an increase from RMB 291.7 million as of March 31, 2022[67]. Market Outlook and Strategy - The Group's real estate sales are expected to slightly outperform market forecasts, with a focus on steady progress in the real estate business[29]. - The gradual relaxation of China's regulation of the real estate industry is anticipated to provide new opportunities for the Group to enhance profitability in its real estate business[84]. - The Group aims to enhance its commercial management capabilities and focus on developing "boutique" commercial property projects, including community commercial centers and industrial parks[84]. - The real estate market began to stabilize in 2023, with the Group anticipating further purchasing momentum from the public due to favorable policies[151]. - The Group's strategy includes implementing appropriate sale arrangements and development strategies to enhance profitability[151]. Corporate Governance and Compliance - The Group has complied with all relevant laws and regulations that significantly impact its operations during the year[119]. - The Company considers all independent non-executive directors to be independent as of the report date, based on confirmations received[167]. - The interests of Directors and the chief executive in the shares of the Company and its associated corporations are required to be notified to the Company and the Stock Exchange[196]. Expansion and New Ventures - The Group is exploring expansion into new business sectors, although past experiences may not be applicable to these new areas[134]. - The Group aims to enhance its core competencies by continuing to allocate resources to expand its "Big Health" industry chain[153]. - The Group has commenced operations at Pingxiang Ganghua Dentistry Hospital Company Limited, laying a foundation for a chain of dental hospitals[153].
汉港控股(01663) - 2023 - 年度财报