Financial Performance - The net profit attributable to the company's owners for the year ended December 31, 2023, was HKD 41 million, a decrease of HKD 138 million compared to HKD 179 million in 2022[4]. - The company reported a loss of HKD 33,051 thousand for the year, compared to a profit of HKD 592,163 thousand in the previous year[5]. - Basic loss per share was HKD (0.37) in 2023, down from earnings of HKD 6.63 per share in 2022[5]. - The group reported a pre-tax profit of HKD 28,954,000, a significant decrease from HKD 616,309,000 in the previous year[19]. - The group did not declare or propose any dividends for the years 2023 and 2022[25]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2023, due to a significant decline in operating profits and increased costs[38]. Revenue and Growth - Total revenue for the year was HKD 414,420 thousand, an increase of 2.8% from HKD 403,159 thousand in 2022[4]. - Total revenue for the year 2023 was HKD 451,811,000, an increase of 2.9% from HKD 439,482,000 in 2022[15]. - Hotel operating revenue reached HKD 414,420,000, up from HKD 403,159,000 in the previous year, reflecting a growth of 2.9%[15]. - Total revenue for the group increased by 3% year-on-year, from approximately HKD 439 million in 2022 to approximately HKD 452 million in 2023[44]. - Operating hotel revenue rose by 3% to HKD 414 million in 2023, compared to HKD 403 million in 2022, driven by increased room rates and occupancy[45]. Costs and Expenses - The gross profit margin decreased to 27.0% in 2023 from 42.9% in 2022, reflecting higher costs[4]. - Administrative expenses increased to HKD 70,945 thousand from HKD 37,977 thousand in 2022, indicating rising operational costs[4]. - The group's hotel service costs for the year were HKD 242.8 million, up from HKD 167 million in 2022, primarily due to an increase in employee numbers from 334 to 536[47]. - Administrative expenses (excluding depreciation) increased to HKD 69 million in 2023 from HKD 36 million in 2022, mainly due to opening costs and maintenance expenses for new hotels[52]. - The group's total financial costs rose to HKD 43,780,000 in 2023 from HKD 23,098,000 in 2022, reflecting an increase of 89%[23]. - The company's financial costs rose by 90% to HKD 43.8 million in 2023, compared to HKD 23.1 million in 2022[41]. - The group reported a significant increase in tax expenses, which rose by 157% to HKD 62 million in 2023 from HKD 24 million in 2022[41]. Assets and Liabilities - The company's total assets as of December 31, 2023, were HKD 4,556,668 thousand, slightly up from HKD 4,536,518 thousand in 2022[11]. - The net current liabilities improved to HKD (392,799) thousand from HKD (435,267) thousand in the previous year[11]. - Total debt as of December 31, 2023, was HKD 875 million, an increase of HKD 18 million from HKD 857 million in 2022[56]. - The debt-to-asset ratio was 21% as of December 31, 2023, compared to 20% in 2022[54]. - Interest expenses for the year amounted to HKD 43.7 million, up from HKD 23.1 million in 2022, attributed to rising interest rates[56]. Operational Insights - The group’s operating segments include hotel services, property investment, and securities investment, with a focus on resource allocation and performance evaluation[16]. - The average occupancy rates for the hotels ranged from 72% to 95% across different properties in 2023[49]. - The group employed 536 staff members as of December 31, 2023, an increase from 334 in 2022[57]. - The number of overnight visitors to Hong Kong was approximately 17 million in 2023, with 12 million from mainland China[58]. - The group's net profit was impacted by renovation costs and increased operational expenses due to labor shortages[58]. Future Outlook - The company plans to continue focusing on operational efficiency and cost management to improve profitability in the upcoming year[12]. - Future prospects for hotel operations and rental income remain challenging, with management focused on increasing revenue and controlling costs[62]. - The Royal Scot Hotel in London is expected to see rental increases linked to the UK retail price index, which has been at a 40-year high[59]. - The group acquired the Glamorous Bay Hotel, which has 435 rooms and began operations on August 1, 2023[58].
华大酒店(00201) - 2023 - 年度业绩