Revenue Growth - The group's revenue for the year 2022 was approximately HKD 264.7 million, an increase of about 79.3% compared to the previous year[8]. - The wine business generated significant revenue growth, increasing from approximately HKD 145.3 million in 2021 to about HKD 262.0 million in 2022[9]. - The food production business recorded a revenue increase of 14.7%, growing from HKD 2.3 million in 2021 to approximately HKD 2.7 million in 2022[8]. - Total revenue for the group increased from approximately HKD 147.6 million in 2021 to about HKD 264.7 million in 2022, representing a growth of approximately 79.3%[21]. - The wine business achieved significant growth in 2022, with revenue reaching approximately HKD 262.0 million, compared to HKD 145.3 million in the previous year, marking an increase of about 80.2%[18]. - The food business recorded revenue growth of approximately 14.7%, increasing from about HKD 2.3 million in 2021 to approximately HKD 2.7 million in 2022, contributing about 1.02% to the group's total revenue[19]. Profitability - The group reported a profit of approximately HKD 6.5 million for 2022, a significant turnaround from a loss of about HKD 63.2 million in 2021[29]. - The wine trade business achieved a segment profit of approximately HKD 3.5 million in 2022, a turnaround from a loss of HKD 61.3 million in the previous year[9]. - The food business turned a profit of HKD 0.2 million in 2022, recovering from a loss of HKD 0.8 million in 2021[13]. - The company reported a profit of HKD 6,725,000 for the year ended December 31, 2022, compared to a loss of HKD 63,163,000 in the previous year[192]. - Total comprehensive income for the year was HKD 6,013,000, compared to a loss of HKD 63,089,000 in 2021[187]. Costs and Expenses - Cost of sales and consumed inventory rose from approximately HKD 133.1 million in 2021 to about HKD 240.2 million in 2022, an increase of approximately 80.5%[22]. - Administrative expenses increased by approximately 22.6%, from about HKD 9.2 million in 2021 to approximately HKD 11.3 million in 2022[27]. - Financial costs rose from approximately HKD 3.7 million in 2021 to about HKD 4.8 million in 2022, an increase of approximately 29.4%[28]. Acquisitions and Investments - The company completed the acquisition of Rainbow Fountain International Limited, which owns a vineyard in Western Australia covering approximately 82 hectares[9]. - Non-current assets increased to HKD 55,984,000 in 2022 from HKD 13,038,000 in 2021, reflecting a significant investment in property, plant, and equipment[189]. Market Outlook and Risks - The board anticipates that 2023 will be a challenging year for both the wine and food production businesses due to potential global economic recession[14]. - Major risks identified include market risks related to political and trade tensions affecting consumer sentiment and costs, particularly for imported Australian wine[55]. - Economic uncertainty may lead to conservative consumer purchasing behavior, impacting the group's performance in the mid-to-high-end market segment[64]. - Food safety risks are inherent in the food production industry, with potential impacts on consumer confidence and additional costs for the group[67]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balance of skills and experience[123]. - The roles of the chairman and the CEO are clearly separated to maintain independence and accountability, with the CEO position remaining vacant since the resignation of the previous CEO[124]. - The company has adopted a board diversity policy to enhance effectiveness by considering various factors such as gender, age, and professional experience[131]. - The company has committed to improving corporate governance practices in line with operational growth and legal requirements[125]. Shareholder Information - The group did not declare or recommend any dividends for the year ending December 31, 2022[31]. - The company has established procedures for shareholders to request special meetings and propose agenda items, ensuring transparency and engagement[163][164]. - The company plans to send out details regarding the 2023 annual general meeting to shareholders shortly[73]. Financial Position - The company's total liabilities decreased to HKD 114,235,000 in 2022 from HKD 152,858,000 in 2021, indicating improved financial stability[189]. - The net asset value increased to HKD 355,841,000 in 2022 from HKD 299,934,000 in 2021, showing growth in shareholder equity[191]. - The company's accumulated losses decreased to HKD 426,664,000 as of December 31, 2022, from HKD 433,389,000 a year earlier[192]. Employee and Compensation - The group had over 14 employees as of December 31, 2022, down from 17 in 2021, with compensation and benefits regularly reviewed to attract and retain talent[44]. - The compensation policy aims to attract and retain high-quality employees by providing a competitive remuneration package, which is regularly reviewed based on market conditions and individual qualifications[96]. - The company has adopted a competitive compensation structure for directors and senior management, which is reviewed by the remuneration committee based on the group's performance and market competitiveness[96].
百利达集团控股(08179) - 2022 - 年度财报