Employee and Compensation - As of December 31, 2023, the group had 17 full-time employees, with employee benefits expenses amounting to approximately HKD 9.0 million, a slight increase from HKD 8.9 million in 2022[1]. Financial Performance - The group recorded a gross profit of approximately HKD 30.0 million for the year ended December 31, 2023, compared to HKD 32.0 million in 2022[21]. - The group reported a loss attributable to owners of approximately HKD 62.6 million for the year ended December 31, 2023, compared to a loss of HKD 39.0 million in 2022, primarily due to a fair value loss of investment properties of approximately HKD 79.2 million[21]. - For the year ended December 31, 2023, the total revenue was HKD 35,374,000, a decrease of 5.71% from HKD 37,517,000 in 2022[59]. - The gross profit for the same period was HKD 29,990,000, down 6.41% from HKD 32,045,000 in 2022[59]. - The loss before tax increased to HKD 59,757,000, representing a 67.44% increase from a loss of HKD 35,688,000 in 2022[59]. - The net loss attributable to shareholders was HKD 62,631,000, compared to a loss of HKD 38,966,000 in the previous year[61]. - The company reported a net loss for the year of HKD 62.6 million, compared to a net loss of HKD 38.97 million in 2022, indicating a worsening financial performance[100]. Revenue and Income - Rental income for the year ended December 31, 2023, was approximately HKD 31.1 million, a decrease from HKD 33.5 million in 2022, reflecting a slower-than-expected recovery in the Hong Kong real estate market[39]. - Property management fee income was approximately HKD 4.3 million for the year ended December 31, 2023, compared to HKD 4.1 million in 2022, accounting for about 12.2% of total revenue[39]. - The company reported a total revenue of HKD 8,168,000 from inter-segment property management fees, down from HKD 8,685,000 in 2022[97]. - The total segment revenue for the year ended December 31, 2023, was HKD 43.5 million, with inter-segment revenue of HKD 8.2 million deducted, resulting in total revenue of HKD 35.4 million[100]. - The total revenue for the year ended December 31, 2023, was HKD 35.4 million, down from HKD 37.5 million in 2022, reflecting a decrease of approximately 2.1 million due to the slow recovery of the Hong Kong real estate market[120]. Assets and Liabilities - The group's total property value was approximately HKD 1,200.6 million as of December 31, 2023, down from HKD 1,280.0 million in 2022[20]. - The total assets as of December 31, 2023, were HKD 1,248,126,000, down from HKD 1,309,860,000 in 2022[62]. - The investment properties decreased to HKD 1,200,560,000 from HKD 1,279,793,000 in 2022[62]. - The total liabilities as of December 31, 2023, were HKD (19,687,000), compared to HKD (18,790,000) in 2022[77]. - The company’s non-current assets (excluding deferred tax assets) located in Hong Kong amounted to HKD 1,211,012,000 as of December 31, 2023, down from HKD 1,290,513,000 in 2022[78]. Cash and Financial Position - The company reported a cash and bank balance of HKD 33,306,000, an increase from HKD 17,409,000 in the previous year[62]. - As of December 31, 2023, the company's cash and bank balances amounted to approximately HKD 33.3 million, an increase from HKD 17.4 million in 2022[121]. - The company's current ratio as of December 31, 2023, was approximately 3.2, compared to 1.7 in 2022, indicating improved liquidity[121]. - The company maintained a prudent financial management strategy, ensuring a robust liquidity position throughout the review period[123]. Investment Properties - The company has maintained 38 investment properties as of December 31, 2023, unchanged from 2022[40]. - The fair value loss on investment properties for the year ended December 31, 2023, was approximately HKD 79.2 million, up from HKD 57.2 million in 2022[91]. - The company incurred direct operating expenses of HKD 287,000 for investment properties generating rental income, significantly reduced from HKD 814,000 in 2022[82]. Corporate Governance and Dividends - The group did not recommend any dividend payment for the year ended December 31, 2023, consistent with 2022[37]. - The group has adopted the corporate governance code as outlined in Appendix C1 of the listing rules[15]. Future Outlook and Challenges - The company anticipates challenges in the real estate industry due to high global inflation and interest rates, which may hinder economic growth[114]. - The company is focused on investing in a resilient portfolio to generate stable recurring income and create value for shareholders[132]. Miscellaneous - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2023[2]. - The company did not receive any government subsidies for the year ended December 31, 2023, compared to HKD 432,000 in 2022 from the employment retention scheme[106]. - The company has no provisions for impairment of receivables as of December 31, 2023, and 2022[87]. - There were no significant contingent liabilities reported for the year ended December 31, 2023[134]. - The company did not provide any financial assistance or guarantees to its subsidiaries as of December 31, 2023[129]. - The company has not experienced any significant events from January 1, 2023, to the date of the announcement[130]. - The company has extended the maturity date of its unsecured revolving loan financing to January 2, 2025, to support its property investment activities and financial services expansion[118]. - The weighted average number of ordinary shares issued remained constant at 720,000,000 shares for both 2023 and 2022[138]. - The basic loss per share increased to HKD 8.70 in 2023 from HKD 5.41 in 2022[138].
晋安实业(02292) - 2023 - 年度业绩