Financial Performance - The total revenue decreased by approximately 43.3% to approximately HK$34,645,000 compared to the previous year[19] - Net profit decreased by approximately 52.7% to approximately HK$10,030,000[19] - The Group recorded total revenue of approximately HK$34,645,000 for the year ended December 31, 2022, representing a decrease of approximately 43.3% from HK$61,128,000 for the year ended December 31, 2021[28] - The Group's total gross profit for the year ended December 31, 2022, was approximately HK$24,112,000, a decrease of approximately 40.0% from HK$40,171,000 for the year ended December 31, 2021[28] - Profit attributable to the owners of the Company amounted to approximately HK$10,104,000 for the year ended December 31, 2022, compared to a loss of approximately HK$21,531,000 for the year ended December 31, 2021[28] - Revenue generated from the publications and advertising business decreased to approximately HK$18,780,000 from approximately HK$29,953,000 for the year ended December 31, 2021[36] - Revenue from the outdoor advertising business amounted to approximately HK$14,758,000, down from approximately HK$28,940,000 for the year ended December 31, 2021[42] - Revenue generated from exhibition and trade show business amounted to approximately HK$1,107,000, representing 3.2% of the total revenue for the year ended December 31, 2022[51] - Gross profit decreased by approximately 40.0% from approximately HK$40,171,000 for the year ended December 31, 2021 to approximately HK$24,112,000 for the year ended December 31, 2022[53] Market Conditions - Total visitation to Macau was 5.7 million, a reduction of 26.0% from 2021 and only 14.5% of the number of visitor arrivals in 2019[17] - The prolonged COVID-19 pandemic resulted in ongoing travel restrictions and prolonged closures of workplaces, severely impacting the tourism business in Macau[17] - Companies in the Macau market, particularly in the tourism and hotel industry, adopted a wait-and-see approach regarding the amendment of the Gaming Law and concession renewal process[18] - The new gaming concession was confirmed in December 2022, which may impact the Macau economy moving forward[18] - January 2023 visitation to Macau increased by 101.3% year-on-year to 1.4 million visitors[23] Operational Efficiency - Operating expenses decreased by approximately 17.0% from approximately HK$14,922,000 for the year ended December 31, 2021 to approximately HK$12,380,000 for the year ended December 31, 2022[60] - The current ratio improved to approximately 1.6 times as at 31 December 2022, compared to approximately 1.0 times as at 31 December 2021[72] - The gearing ratio decreased to approximately 38% as at 31 December 2022, down from 144% in 2021[74] - Trade receivables increased from approximately HK$14,712,000 for the year ended December 31, 2021 to approximately HK$33,997,000 for the year ended December 31, 2022, with turnover days increasing from approximately 88 days to approximately 358 days[75] Corporate Governance - The Group's principal activity is investment holding, with key subsidiaries detailed in note 36 of the consolidated financial statements[122] - The Group has implemented a conservative treasury policy to manage credit risk and closely monitors liquidity levels[88] - The Group's commitment to corporate governance includes compliance with relevant laws and regulations impacting its operations[125] - The company confirmed compliance with disclosure requirements for related party transactions under Chapter 20 of the GEM Listing Rules[187] - The company has adopted the Corporate Governance Code and has been in compliance with it, except for the separation of the roles of chairman and CEO, which are currently shared among executive Directors[198] - The company will continue to review its corporate governance practices to enhance standards and meet regulatory requirements[199] Environmental, Social, and Governance (ESG) - For the year ended December 31, 2022, the Group focused on minimizing environmental damage and ensuring employee well-being, with no recorded non-compliance in environmental and social aspects[124] - Stakeholder engagement highlighted key material issues including employee health and safety, labor standards, intellectual property rights, customer data protection, and anti-corruption, all of which are actively managed by the Group[124] - The Group will publish an Environmental, Social and Governance Report within three months of this annual report, detailing its environmental policies and stakeholder relationships[125] - The Group's business operations are committed to continuous improvement in environmental and social governance practices[124] - The Group continues to engage with stakeholders to enhance its environmental, social, and governance management[128] Shareholder Information - The Directors do not recommend the payment of a final dividend for the year ended December 31, 2022[28] - As of December 31, 2022, the Company had no reserves available for distribution to shareholders[133] - The Board does not recommend the payment of any final dividend for the year ended December 31, 2022[130] - The company has a total of 518,400,000 shares issued as of December 31, 2022[180] - As of December 31, 2022, Mr. Lui Man Wah holds 320,023,300 shares, representing approximately 61.73% of the issued share capital of the company[173] Future Outlook - The Group will remain resilient and is cautiously optimistic about its business outlook following the relaxation of travel restrictions[25] - The Group has diversified its revenue stream by developing the billboard advertising business, entering into contracts for advertisement spaces in Macau and Zhuhai[41] - The Group plans to offer up to 103,680,000 placing shares at a price of not less than HK$0.14 per share as part of a placing agreement entered into on March 13, 2023[103] - The Group has not disclosed any plans for material investments or capital assets beyond what is stated in the annual report[90] - The Group's future business development and potential risks are discussed in the Chairman's Statement and Management Discussion and Analysis[123]
惠陶集团(08238) - 2022 - 年度财报