Financial Performance - The company's revenue for the fiscal year ended December 31, 2022, was HKD 944,305,000, an increase of 1.8% compared to HKD 927,807,000 in 2021[18]. - The company's profit before tax for 2022 was HKD 287,267,000, a decrease of 9.9% from HKD 318,910,000 in 2021[19]. - The profit attributable to shareholders for 2022 was HKD 231,610,000, down 12.1% from HKD 263,382,000 in 2021[19]. - Gross profit for 2022 was HKD 455,050,000, reflecting a 1.9% increase from HKD 446,396,000 in the previous year[32]. - EBITDA for 2022 was HKD 765,102,000, up 4.3% from HKD 733,826,000 in 2021, with an EBITDA margin of 81.0%[32][33]. - The company faced a 12.1% decline in net profit attributable to shareholders, which was HKD 231,610,000 compared to HKD 263,382,000 in 2021[32]. - The company's basic earnings per share for the year 2022 was HKD 231,610,000, down from HKD 263,382,000 in 2021, indicating a decline of 12.1%[88]. - The company's total tax expenses for the year 2022 amounted to HKD 55,657,000, slightly up from HKD 55,528,000 in 2021, reflecting a year-over-year increase of 0.2%[84]. Revenue Sources - The satellite transponder capacity revenue was HKD 861,299,000, up 1.6% from HKD 847,388,000 in 2021[14]. - The revenue from satellite broadcasting and telecommunications services was HKD 4,381,000, down 6.5% from HKD 4,684,000 in 2021[14]. - The group's revenue from satellite transponder capacity and related services accounted for over 90% of total income for the years ended December 31, 2022, and 2021[96]. - Revenue for the year ended December 31, 2022, was HKD 944,305,000, an increase of 1.8% compared to HKD 927,807,000 in 2021[32]. Dividends - The company declared a final cash dividend of HKD 0.17 per share for the fiscal year ended December 31, 2022, compared to HKD 0.205 per share in 2021[21]. - The interim dividend declared for the year was HKD 5.00 per share, an increase from HKD 4.00 per share in the previous year, resulting in a total payout of HKD 46,429,000 compared to HKD 37,143,000 in 2021, representing a 25.5% increase[86]. - The proposed final dividend for the year is HKD 17.00 per share, down from HKD 20.50 per share in 2021, leading to a total proposed payout of HKD 157,857,000 compared to HKD 190,357,000 in the previous year, a decrease of 17.1%[86]. Assets and Liabilities - Total liabilities decreased to HKD 1,059,855,000, down HKD 101,400,000 from the previous year, resulting in a debt-to-asset ratio of 14.9%, a decrease of 1.0 percentage points[40]. - The total cash and bank balances amounted to HKD 1,749,738,000, reflecting a 28.3% increase from HKD 1,363,964,000[53]. - The total assets decreased by 2.3% to HKD 7,126,678,000, down from HKD 7,295,364,000[53]. - The company's equity as of December 31, 2022, was HKD 6,066,823,000, compared to HKD 6,134,109,000 in 2021, indicating a decrease of 1.1%[92]. - Non-current assets as of December 31, 2022, totaled HKD 4,185,970,000, a decrease from HKD 4,564,484,000 in 2021, reflecting a decline of 8.3%[90]. - Current assets decreased to HKD 5,262,248,000 in 2022 from HKD 5,766,823,000 in 2021, representing a decline of 8.7%[90]. - The company's total assets less current liabilities amounted to HKD 6,934,834,000 in 2022, down from HKD 7,065,430,000 in 2021, a decrease of 1.9%[90]. Cash Flow and Investments - The group recorded a net cash outflow of HKD 221,312,000, compared to a net cash inflow of HKD 88,810,000 in 2021[63]. - The company holds cash and bank deposits totaling HKD 1,749,738,000, with 76.82% in USD, indicating strong liquidity for future investments[41]. - The company reported a significant increase in interest income from bank deposits, rising by 48.7% to HKD 28,309,000[35]. - Interest income from bank deposits increased to HKD 26,280,000 in 2022 from HKD 13,649,000 in 2021, representing a growth of 92%[99]. - The company is actively exploring new satellite project investments and business areas to maintain stable growth amid challenging market conditions[30][50]. Operational Developments - The company has successfully launched the Asia-Pacific 6E high-throughput satellite in January 2023, expected to provide services by the end of 2023 to early 2024[8]. - The company has established or acquired gateway station capabilities in Hong Kong, Australia, Indonesia, and Malaysia to support high-throughput satellite services[8]. - The company continues to expand its service offerings, including satellite television broadcasting, telecommunications services, and data center services[11]. - The satellite transponder market remains under pressure, with declining rental prices and subdued demand due to oversupply and global chip shortages[10]. - The company plans to expand its satellite resources and high-throughput satellite communication market, enhancing its service capabilities and competitiveness[30]. Foreign Exchange and Impairments - The company recorded a foreign exchange loss of HKD 26,406,000, a significant decline compared to a gain of HKD 17,681,000 in the previous year[35]. - The group reported a loss of HKD 26,406,000 from foreign currency exchange in 2022, compared to a gain of HKD 17,681,000 in 2021[99]. - The company reported a foreign exchange loss of HKD 62,138,000 in 2022, contributing to a total comprehensive income of HKD 169,500,000, down from HKD 407,174,000 in 2021[92]. - The group did not recognize any impairment loss on intangible assets with indefinite useful lives for the years ended December 31, 2022, and 2021[106]. Employee and Corporate Governance - The group employed 113 staff as of December 31, 2022, and continues to provide on-the-job training for employees[115]. - The company has maintained compliance with the Corporate Governance Code, with no share buybacks during the reporting period[138]. - The company celebrated its 30th anniversary in 2022, attributing its success to customer support and employee efforts[145].
亚太卫星(01045) - 2022 - 年度业绩