Revenue Performance - Satellite transponder capacity revenue decreased by 14.3% to HKD 737,997,000 compared to HKD 861,299,000 in the previous year[2] - Total revenue from satellite broadcasting and telecommunications services fell by 9.2% to HKD 3,979,000 from HKD 4,381,000[2] - Revenue for the year ended December 31, 2023, was HKD 833,975,000, a decrease of 11.7% compared to HKD 944,305,000 in 2022[24] - Revenue from satellite broadcasting and telecommunications services decreased to HKD 3,979,000 from HKD 4,381,000, a decline of about 9.2%[110] - Revenue from a major customer accounted for over 10% of total revenue, generating HKD 225,319,000 in 2023, down from HKD 275,800,000 in 2022[111] - Revenue by region for 2023: Hong Kong HKD 133,446,000, Greater China HKD 350,258,000, Southeast Asia HKD 257,579,000, and Other Regions HKD 92,692,000, compared to HKD 93,016,000, HKD 429,698,000, HKD 323,243,000, and HKD 98,348,000 in 2022[113] Profitability - Total net income for the year ended December 31, 2023, was HKD 237,654,000, a slight increase from HKD 231,610,000 in 2022[14] - The company reported a net profit attributable to shareholders of HKD 237,654,000, an increase of 2.6% from HKD 231,610,000 in 2022[24] - Gross profit decreased by 21.9% to HKD 355,565,000 from HKD 455,050,000 in the previous year[24] - EBITDA for 2023 was HKD 668,880,000, down 12.6% from HKD 765,102,000 in 2022, with an EBITDA margin of 80.2%[24] - The company’s operating profit for the year was HKD 343,800,000, slightly down from HKD 354,174,000 in 2022, reflecting stable operational performance despite revenue decline[92] - The total comprehensive income for the year was HKD 218,382,000, compared to HKD 169,500,000 in 2022, indicating a significant improvement[94] Financial Position - The group's total liabilities decreased to HKD 1,004,523,000, down HKD 55,332,000 from the previous year, resulting in a debt-to-asset ratio of 14.2%, a decrease of 0.7 percentage points[10] - Total cash and bank balances increased by 22.8% to HKD 2,148,555,000 from HKD 1,749,738,000 in 2022[24] - Total assets decreased slightly by 0.6% to HKD 7,085,442,000 compared to HKD 7,126,678,000 in the previous year[24] - Total liabilities decreased by 5.2% to HKD 1,004,523,000 from HKD 1,059,855,000 in 2022[24] - The company maintained a strong cash position with a current ratio of 9.80 times, up from 9.72 times in the previous year[24] - The company holds cash and bank balances of HKD 2,148,555,000, with 95.54% in USD, indicating strong liquidity for future investments[59] Capital Expenditures and Investments - Capital expenditures for property, plant, and equipment increased to HKD 17,182,000 from HKD 11,264,000 in the previous year[7] - The company has secured financing of up to USD 85,600,000 (equivalent to HKD 667,680,000) from Bank of China (Hong Kong) for its subsidiary[9] - The company has established or acquired gateway station capabilities in Hong Kong, Australia, Indonesia, and Malaysia to support high-throughput satellite services[67] - The company plans to expand into high-throughput satellite communication markets and enhance satellite video integrated services[22] Taxation and Financial Costs - Tax expenses fell to HKD 41,367,000 from HKD 55,657,000 in 2022[55] - Total tax expense for 2023 was HKD 41,367,000, compared to HKD 55,657,000 in 2022, reflecting a decrease in tax liabilities[118] - The effective tax rate for Hong Kong profits tax remained at 16.5% for both 2023 and 2022[119] - Financial costs decreased to HKD 5,765,000 from HKD 7,013,000 in 2022, primarily due to reduced interest on lease liabilities[52] Other Income and Expenses - The company reported a significant increase in other net income, rising by 895.3% to HKD 88,461,000[50] - Interest income from bank deposits increased significantly to HKD 87,597,000 in 2023 from HKD 26,280,000 in 2022[114] - The company experienced a foreign exchange loss of HKD 2,155,000 in 2023, an improvement from a loss of HKD 26,406,000 in 2022[114] - Other income for 2023 was HKD 1,928,000, down from HKD 5,739,000 in 2022[114] Dividends - The company declared a final dividend of HKD 134,643,000 after the reporting period[33] - The company declared an interim cash dividend of HKD 0.05 per ordinary share for the year, and a proposed final cash dividend of HKD 0.145 per ordinary share for the fiscal year ending December 31, 2023, compared to HKD 0.17 in 2022[86] - The company declared a dividend of HKD 46,429,000 for the current year[100] Market Conditions and Future Outlook - The market for satellite transponders remains competitive with continued oversupply and declining rental prices expected in 2024[21] - The company successfully launched the Asia-Pacific 6E high-throughput satellite in January 2023, which is expected to provide services in 2024[66] - The company achieved positive business growth in the mainland China and Southeast Asia markets despite challenging market conditions[69] Asset Management - The company has a strong asset base with non-current assets totaling HKD 4,796,306,000 as of December 31, 2023, compared to HKD 5,262,248,000 in 2022[96] - Net asset value increased to HKD 6,080,919,000 from HKD 6,066,823,000, reflecting a growth of about 0.2%[98] - Total equity increased to HKD 6,080,919,000 from HKD 6,066,823,000, reflecting a growth of about 0.2%[100] Miscellaneous - The company did not report any significant new product launches or technological advancements during the period[111] - There were no major mergers or acquisitions reported in the financial year ending December 31, 2023[111]
亚太卫星(01045) - 2023 - 年度业绩