Financial Performance - The net profit attributable to equity holders for the year ended December 31, 2023, was approximately HKD 210.4 million, a decrease of approximately HKD 142.2 million or 40.3% compared to HKD 352.6 million for the year ended December 31, 2022[12]. - The comprehensive income for the year totaled HKD 284,607,000, down from HKD 316,048,000, reflecting a decrease of approximately 9.9%[30]. - The profit attributable to equity holders for the year ended December 31, 2023, was approximately HKD 284.9 million, a decrease of about 10.3% compared to HKD 317.6 million for the year ended December 31, 2022[155]. - The earnings per share for the year ended December 31, 2023, was HKD 0.182, down from HKD 0.203 for the year ended December 31, 2022[155]. - The adjusted operating profit for the year ended December 31, 2023, was approximately HKD 52.4 million, compared to HKD 48.5 million for the year ended December 31, 2022[162]. Revenue and Assets - The total revenue for the year ended December 31, 2023, was HKD 121,782,000, an increase from HKD 120,945,000 in the previous year, representing a growth of approximately 0.7%[30]. - The group's total assets as of December 31, 2023, amounted to approximately HKD 9,480.3 million, compared to HKD 8,969.9 million as of December 31, 2022[18]. - The group's total assets increased to HKD 9,226,490,000 as of December 31, 2023, compared to HKD 8,730,135,000 in the previous year, marking a growth of about 5.7%[30]. - The revenue from the property investment segment for the year ended December 31, 2023, was approximately HKD 121.8 million, an increase of 0.7% from HKD 120.9 million for the year ended December 31, 2022[157]. Investment Properties - The group recorded a fair value gain of approximately HKD 74.5 million for investment properties for the year ended December 31, 2023, compared to a fair value loss of approximately HKD 35.0 million for the year ended December 31, 2022[4]. - The capitalization rate for the group's investment properties ranged from 2.50% to 3.90% as of December 31, 2023, compared to 2.75% to 3.90% as of December 31, 2022[4]. - Rental rates for investment properties ranged from HKD 10.0 to HKD 79.8 per square foot as of December 31, 2023, compared to HKD 10.0 to HKD 89.0 per square foot as of December 31, 2022[4]. - Investment properties rose to HKD 3,328,900,000 from HKD 3,251,900,000, showing an increase of approximately 2.4%[30]. Financial Costs and Liabilities - Financial costs increased by approximately HKD 279.6 million for the year ended December 31, 2023, compared to approximately HKD 163.9 million for the year ended December 31, 2022[12]. - The group recorded a net current liability of HKD 5,198,021,000 as of December 31, 2023, which includes loans from intermediate holding companies amounting to HKD 5,370,000,000[36]. - The company had total liabilities of HKD 81,284,000, up from HKD 53,710,000 in 2022, representing a 51.5% increase[128]. Cash and Liquidity - As of December 31, 2023, the group's cash and bank balances totaled approximately HKD 232.5 million, up from approximately HKD 209.7 million as of December 31, 2022[7]. - The group actively reviews and manages its liquidity and financial resources in response to changes in economic conditions and business expansion needs[7]. - The board has prepared cash flow forecasts for the next twelve months, indicating sufficient operational funds to meet financial obligations[37]. - The group maintained a stable cash position and expects its cash and cash equivalents to meet operational funding needs[172]. Share of Profit and Associates - The group's share of profit from associates was HKD 426,300,000, down from HKD 465,626,000, representing a decrease of about 8.4%[30]. - The group recorded a share of profit from the joint venture of approximately HKD 426.3 million for the year ended December 31, 2023, down from HKD 465.9 million for the year ended December 31, 2022[166]. Compliance and Regulatory Changes - The Securities and Futures Commission approved a reduction in the group's regulated activities effective June 6, 2023, impacting its financial services segment[60]. - The group ceased regulated activities under the Securities and Futures Ordinance, specifically Class 1 (securities trading), Class 4 (advising on securities), and Class 6 (advising on corporate finance) during the year[79]. Employee and Operational Management - Employee count decreased to 12 as of December 31, 2023, from 14 in the previous year, reflecting adjustments in workforce management[173]. - The group has ensured compliance with liquidity requirements for its licensed subsidiaries, maintaining sufficient capital to support business operations[196].
长城环亚控股(00583) - 2023 - 年度业绩