Financial Performance - The company reported unaudited revenue of HKD 280,639,000 for the year ended December 31, 2021, a decrease of 83.0% compared to HKD 1,648,233,000 in 2020[4] - Gross profit for the year was HKD 20,610,000, down 15.0% from HKD 24,450,000 in the previous year[4] - The company recorded a net profit of HKD 1,163,000 for the year, a significant improvement from a net loss of HKD 88,324,000 in 2020[4] - For the year ended December 31, 2021, total revenue was HKD 280,639,000, a significant decrease from HKD 1,648,233,000 in 2020, representing an 83% decline[15] - The company reported a basic and diluted earnings per share of HKD 0.24, compared to a loss per share of HKD 18.1 in the previous year[4] - The total comprehensive income for the year was approximately HKD 26,067,000, compared to a loss of HKD 61,331,000 in the previous year[45] Assets and Liabilities - Total assets minus current liabilities increased to HKD 529,798,000 from HKD 273,591,000 in the previous year, reflecting a growth of 93.8%[8] - The total liabilities decreased from HKD 322,031,000 in 2020 to HKD 272,450,000 in 2021, reflecting a reduction of about 15%[19] - The asset-liability ratio decreased to 0.47 from 0.54 due to a reduction in bank loans[55] - The company’s equity attributable to owners rose to HKD 311,798,000, up from HKD 273,591,000 in 2020, indicating a growth of 13.9%[8] Expenses - The company’s financial costs decreased to HKD 9,834,000 from HKD 16,691,000, a reduction of 41.5%[4] - The company’s administrative expenses increased to HKD 26,775,000 from HKD 21,644,000, reflecting a rise of 23.5%[4] - The total employee costs increased to HKD 16,423,000 in 2021 from HKD 11,456,000 in 2020, marking a rise of about 43%[24] - The income tax expense for the year was approximately HKD 2,368,000, down from HKD 3,860,000 in the previous year[44] - The company reported a significant decrease in "sales and distribution expenses," which fell by about 73% to approximately HKD 1,128,000 from HKD 4,221,000 in the previous year[42] Business Operations - The company ceased its supply chain business during the year due to adverse impacts from the pandemic, focusing instead on uranium products[37] - The group plans to focus on uranium product trading and actively seek quality uranium resource projects to align with the parent company's development in the nuclear energy sector[46] - The company is actively seeking high-quality uranium resource projects to supplement its development following the cessation of its supply chain business[37] - A framework agreement was established with China Uranium Corporation, making the group the preferred supplier for short-term uranium product needs and the exclusive regional supplier for medium to long-term needs[46] - The group aims to strengthen its uranium trading business and expand its market coverage in China and globally, enhancing long-term profitability[48] Cash Flow - The group recorded a net cash outflow of approximately HKD 25,451,000, primarily used for repaying bank loans, compared to HKD 273,943,000 in the previous year[54] Corporate Governance - The company has established a remuneration committee to determine the remuneration of directors, ensuring compliance with governance standards[70] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited annual performance along with accounting standards and treatment methods[69] Future Outlook - The company emphasizes that the unaudited consolidated performance for the year may change due to factors such as fair market valuation of non-current assets and potential adjustments based on the auditor's findings[64] - The company anticipates releasing the audited annual results around mid-May 2022, despite potential impacts from the ongoing pandemic[65] - The company will issue further announcements regarding significant differences between the audited and unaudited annual results once the audit process is completed[74] Other Information - The company did not declare any dividends for the year ending December 31, 2021, consistent with the previous year[29][36] - The company incurred a loss before tax of HKD 84,464,000 for the year ended December 31, 2020, compared to a profit before tax of HKD 3,531,000 in 2021[15] - The group employed 22 full-time employees as of December 31, 2021, with total employee costs amounting to approximately HKD 16,423,000[51] - The group has no significant foreign exchange risk as the currencies used for revenue and expenses remained stable during the year[58] - There were no major acquisitions or disposals of subsidiaries or associates during the year[56] - The company reported bank interest income of HKD 825,000 for the year ended December 31, 2021[15] - The exploration and sales segment's assets decreased slightly from HKD 14,729,000 in 2020 to HKD 13,830,000 in 2021[18] - The company’s inventory impairment loss was nil for the year, compared to HKD 52,409,000 in 2020, indicating a significant recovery[4] - The company’s unallocated corporate assets increased from HKD 31,708,000 in 2020 to HKD 76,281,000 in 2021, an increase of approximately 140%[18] - The segment profit for the mineral trading division was HKD 14,223,000, while the exploration and sales segment reported a loss of HKD 2,846,000[15] - Revenue from China (including Hong Kong) was HKD 53,580,000 in 2021, down from HKD 1,016,795,000 in 2020, indicating a substantial drop of approximately 95%[23] - The total assets of the mineral trading segment decreased from HKD 69,262,000 in 2020 to HKD 56,584,000 in 2021, a decline of approximately 18%[18] - The company’s share of profits from associates was approximately HKD 16,543,000, an increase of about 190% compared to a loss of HKD 18,446,000 in the previous year[42]
中核国际(02302) - 2021 Q4 - 年度财报