Financial Performance - For the fiscal year ending December 31, 2022, the company reported total revenue of HKD 726,500,000, a decrease of 65.8% compared to HKD 2,125,200,000 for the previous year[6]. - The supply chain business generated revenue of HKD 632,200,000, down significantly from HKD 2,114,800,000 in the prior year, reflecting a decline of approximately 70%[25]. - The hotel management and catering services segment contributed revenue of HKD 87,500,000, despite challenges posed by the COVID-19 pandemic[7]. - The company recorded a net loss of approximately HKD 14,300,000 for the fiscal year, compared to a net loss of HKD 5,600,000 in the previous year, indicating a worsening financial position[19]. - The supply chain business's segment profit was HKD 8,800,000, representing a decline of 68.1% year-over-year[26]. - The total revenue for the year ended December 31, 2022, was HKD 726,500,000, a decrease of 65.8% compared to HKD 2,125,200,000 for the year ended December 31, 2021, primarily due to a decline in supply chain business revenue to HKD 632,200,000 from HKD 2,114,800,000[31]. - The total revenue from lending, securities investment, leasing, and property investment was approximately HKD 6,800,000, down from HKD 10,400,000 for the year ended December 31, 2021[32]. - The operating profit for the year was HKD 15,025,000, down from HKD 47,703,000 in the previous year, reflecting a decline of 68.6%[166]. - The net loss for the year was HKD 14,261,000, compared to a loss of HKD 5,648,000 in 2021, indicating an increase in losses[166]. - The company's basic and diluted loss per share for the year was HKD 0.37, compared to HKD 0.15 in the previous year, reflecting a worsening in per-share performance[166]. Cost Management - Direct costs and operating expenses significantly decreased from HKD 2,064,100,000 for the year ended December 31, 2021, to HKD 689,800,000 for the year ended December 31, 2022, mainly due to the substantial decline in supply chain business revenue, which accounted for over 87% of total revenue[33]. - The financial costs decreased from HKD 48,000,000 for the year ended December 31, 2021, to HKD 31,900,000 for the year ended December 31, 2022, primarily due to loan repayments during the year[35]. - The company reported direct costs and operating expenses of HKD 689,812,000 for the year, a decrease from HKD 2,064,125,000 in 2021, indicating a reduction in operational costs[166]. - Administrative expenses increased from HKD 46,300,000 for the year ended December 31, 2021, to HKD 62,700,000 for the year ended December 31, 2022, primarily due to expected credit loss provisions and costs associated with the newly acquired hotel management and catering services[57]. Business Strategy and Diversification - The company is actively seeking opportunities for business diversification and revenue stream expansion, including the acquisition of 卓見實業集團有限公司 to enhance its hotel management and catering services[18]. - The management remains focused on maintaining market position and achieving stable revenue growth despite ongoing pandemic challenges[26]. - The company aims to create value for shareholders, customers, and employees by taking proactive measures to navigate challenges[9]. - The company aims to enhance the performance of its core supply chain business by eliminating non-value-added activities and expanding its customer base in 2023[76]. - The group aims to enhance its operational efficiency and expand its customer base in the hotel management and catering services sector, responding to increased demand post-pandemic[125]. Financial Position and Liquidity - Cash and cash equivalents as of December 31, 2022, were HKD 37,700,000, compared to HKD 15,400,000 in the previous year, while interest-bearing borrowings decreased to HKD 470,900,000 from HKD 527,600,000[39]. - The capital debt ratio was 82.8% as of December 31, 2022, compared to 81.6% in 2021, indicating a slight increase in leverage[62]. - The current ratio remained stable at 1.29, down from 1.30 in the previous year, reflecting consistent liquidity management[62]. - The company's total borrowings as of December 31, 2022, were approximately HKD 448,500,000, down from HKD 523,100,000 in 2021, representing a reduction of 14.3%[149]. - The company has no significant contingent liabilities as of December 31, 2022, maintaining a stable risk profile[87]. Investments and Acquisitions - The company completed the acquisition of all issued shares of Zhuojian Industrial for a cash consideration of HKD 120,000,000, which was finalized on April 1, 2022[96]. - The company completed the sale of its minority stake in Jinyu Limited on May 31, 2022, and no longer holds any equity in Jinyu[74]. - The company sold a 14.73% stake in Jinyu for a cash consideration of HKD 110,000,000[97]. - The company invested approximately HKD 2,200,000 in property, plant, and equipment during the year, significantly up from HKD 25,000 in 2021[150]. Risk Management - The company is monitoring market developments and is prepared to adjust investment strategies as necessary to optimize its portfolio[29]. - The supply chain business is significantly impacted by the downturn in the Chinese real estate market, leading to increased expected credit losses[26]. - The company will continue to adopt a prudent approach in developing its supply chain business and will tighten credit risk assessments while seeking opportunities with valuable customers[51]. - The company will continue to monitor foreign currency and interest rate risks closely, with no significant exposure identified at this time[63]. Shareholder Returns - The board does not recommend the payment of any dividends for the year ended December 31, 2022[101]. - The company issued ordinary shares, raising 198,225 thousand HKD during the year[171].
百德国际(02668) - 2022 - 年度财报