Financial Performance - For the year ended December 31, 2023, the group reported a consolidated operating loss of HKD 89 million, a decrease from HKD 215 million in 2022, primarily due to improved performance in the hotel business in Hokkaido, Japan, and seasonal recreational activities[1] - The group recorded a net loss attributable to shareholders of HKD 466 million for the year ended December 31, 2023, an improvement from a loss of HKD 598 million in 2022[1] - The group's basic loss per share for the year ended December 31, 2023, was HKD 22.89 cents, an improvement from HKD 29.34 cents in 2022[16] - Total reported revenue for the year was HKD 822 million, an increase from HKD 561 million in 2022, representing a growth of approximately 46.4%[33] - Consolidated gross profit reached HKD 547 million, up 64% from HKD 333 million in 2022, with a gross margin of 67% compared to 59% in the previous year[36] - The pre-tax loss for the year was HKD 466 million, an improvement from a loss of HKD 598 million in 2022[54] - Consolidated revenue increased by 46% to HKD 822 million[75] - Consolidated operating loss decreased by 59% to HKD 89 million[75] - Loss attributable to shareholders was HKD 466 million, with a basic loss per share of HKD 22.89[75] Assets and Liabilities - The group's total current assets as of December 31, 2023, amounted to HKD 4.461 billion, significantly up from HKD 1.811 billion in 2022, mainly due to the reclassification of properties under development to current assets[2] - The group's current liabilities decreased to HKD 1.172 billion as of December 31, 2023, down from HKD 1.495 billion in 2022, mainly due to the settlement of amounts payable to the government under the Cyberport agreement[2] - The group's total assets less current liabilities amounted to HKD 9.853 billion as of December 31, 2023, compared to HKD 9.795 billion in 2022[21] - The group's assets totaled HKD 11,025 million as of December 31, 2023, a decrease from HKD 11,290 million in 2022[35] - The group's liabilities increased to HKD 10,343 million in 2023 from HKD 10,077 million in 2022[35] - The total amount of cash and cash equivalents as of December 31, 2023, was HKD 8.65 billion[92] - The group's total borrowings as of December 31, 2023, were HKD 94.41 billion, an increase from HKD 89.74 billion in 2022[4] - The total amount of loans drawn down as of December 31, 2023, was HKD 12.08 billion, down from HKD 12.58 billion on December 31, 2022[91] - As of December 31, 2023, the group's total assets pledged as collateral for bank loans amounted to HKD 7.759 billion, compared to HKD 7.713 billion in 2022[103] Revenue Streams - The revenue from property management services in Japan increased to HKD 68 million for the year ended December 31, 2023, compared to HKD 27 million in 2022, reflecting a growth of 152%[11] - The revenue from the Japanese hotel business was HKD 276 million in 2023, up from HKD 150 million in 2022, marking an increase of 84%[33] - Revenue from external customers in Japan was HKD 511 million in 2023, a significant increase from HKD 259 million in 2022[40] - Revenue from property development in Thailand increased to HKD 30 million in 2023 from HKD 24 million in 2022[78] - Revenue from the golf business in Thailand rose to HKD 9 million in 2023, compared to HKD 5 million in 2022, marking a 52% increase in visitor rounds[78] - Revenue from leisure activities in Japan grew significantly to HKD 156 million in 2023, compared to HKD 74 million in 2022[82] - Rental income from properties remained stable at HKD 239 million in 2023, unchanged from 2022[76] Financing and Costs - The group's financing costs decreased to HKD 332 million for the year ended December 31, 2023, compared to HKD 343 million in 2022, attributed to lower costs of guaranteed notes[1] - The group's financing costs totaled HKD 486 million for the year, with interest expenses from bank loans amounting to HKD 145 million, up from HKD 77 million in 2022[45] - The weighted average interest rate on borrowings for the group was 5.3% in 2023, up from 4.34% in 2022[45] Operational Insights - The group employed a total of 1,353 staff as of December 31, 2023, an increase from 1,188 in 2022[104] - The occupancy rate of office space in Jakarta was 83% in 2023, up from 81% in 2022[76] - Operating cash flow for the year ended December 31, 2023, was HKD 248 million, an increase from HKD 101 million in 2022[101] Future Outlook - The company maintains a cautiously optimistic outlook for the real estate sectors in Hong Kong, Japan, Thailand, and Indonesia, preparing for various scenarios to enhance business performance[109] - The company is actively seeking new opportunities amid global economic uncertainties, with expectations of a gradual recovery in the global economy in 2024[122] - The global tourism industry is anticipated to return to pre-pandemic levels within the next year, providing growth opportunities, particularly in the Asia-Pacific region[123] Accounting and Compliance - The group has adopted several new and revised accounting standards effective from January 1, 2023, which did not have a significant impact on the consolidated financial statements[28] - The group expects that the adoption of new accounting standards will not have a significant impact on future reporting periods[31] - The company had no impairment provisions recognized for the year ended December 31, 2023, consistent with 2022[88] - The company has not recognized any deferred tax assets as of December 31, 2023, indicating no anticipated taxable profits to offset temporary differences[84] - The company has complied with all financial ratio covenants related to its loans as of December 31, 2023[96] Dividends - No final dividends were declared for the years 2023 and 2022[52] - The board did not declare an interim dividend for the year ended December 31, 2023, consistent with 2022[105]
盈大地产(00432) - 2023 - 年度业绩