Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 341,863,000, representing an increase of 18.7% compared to HKD 288,089,000 in 2022[4] - The gross profit for the same period was HKD 10,083,000, down 25.5% from HKD 13,565,000 in the previous year[4] - The net loss attributable to equity holders of the parent for 2023 was HKD 4,970,000, a significant improvement from a loss of HKD 8,877,000 in 2022, indicating a reduction in losses by 44.5%[4] - The company reported a basic and diluted loss per share of HKD 0.018, an improvement from HKD 0.032 in the previous year[4] - The company reported a pre-tax loss of 4,628 thousand HKD in 2023, an improvement from a loss of 8,877 thousand HKD in 2022[26] - The company reported a loss of HKD 5.0 million for fiscal year 2023, a 43.8% reduction from a loss of HKD 8.9 million in 2022, attributed to the reversal of impairment losses on financial assets[58] Revenue Breakdown - Distribution business revenue increased to 57,257 thousand HKD in 2023 from 7,860 thousand HKD in 2022, marking a significant growth[22] - Supply chain business revenue rose to 284,606 thousand HKD in 2023, compared to 280,229 thousand HKD in 2022, indicating a 1.4% increase[22] - For the fiscal year ending December 31, 2023, the distribution business generated revenue of approximately HKD 57.3 million, a significant increase of 625.3% from HKD 7.9 million in the previous fiscal year[42] - The supply chain business achieved revenue of HKD 284.6 million in the fiscal year 2023, a slight increase of 1.6% from HKD 280.2 million in the previous fiscal year[46] - The international trade segment generated revenue of HKD 64.7 million with a gross profit of HKD 2.5 million, achieving a gross margin of approximately 3.9%[45] - Domestic trade revenue was approximately HKD 219.9 million with a gross profit of HKD 6.6 million, resulting in a gross margin of about 3.0%[46] Assets and Liabilities - The total current assets increased to HKD 318,631,000 in 2023, up 43.7% from HKD 221,719,000 in 2022[6] - The total liabilities increased to HKD 153,428,000, up from HKD 50,462,000 in 2022, reflecting a rise of 203.5%[6] - Trade receivables rose sharply to HKD 93,102,000, a 108.7% increase from HKD 44,555,000 in the previous year[6] - Cash and bank balances significantly improved to HKD 120,618,000, compared to HKD 43,090,000 in 2022, marking an increase of 179.5%[6] - Inventory as of December 31, 2023, increased by 17.1 million to HKD 40.6 million, up from HKD 23.5 million in 2022, due to expanded coverage in the supply chain business[59] Costs and Expenses - Sales cost rose by 20.9% to HKD 331.8 million in fiscal year 2023, compared to HKD 274.5 million in 2022, aligning with revenue growth[50] - Gross profit decreased by 25.7% to HKD 10.1 million in fiscal year 2023, with a gross margin of 3.0%, down from 4.7% in 2022, mainly due to lower gross margin in the distribution business[51] - Other income and net gains fell by 22.9% to HKD 2.7 million in fiscal year 2023, down from HKD 3.5 million in 2022, primarily due to the absence of government subsidies[52] - The company’s financing costs increased by 70.8% to HKD 4.1 million in fiscal year 2023, up from HKD 2.4 million in 2022, due to higher average principal of outstanding loans[57] - Interest expenses surged to 4,059 thousand HKD in 2023, up from 2,334 thousand HKD in 2022, reflecting increased financing costs[24] Business Operations - The company is engaged in the distribution of laboratory instruments and life sciences equipment, as well as trading and supply chain operations for various industrial and consumer products[11] - The company plans to expand its distribution business in Southwest China, targeting new sales contracts and participating in public tenders for medical equipment in major hospitals[68] - The company plans to continue expanding its supply chain business in 2024, aiming to sign long-term supply agreements in coal and mineral products to achieve stable large-scale trade[69] - The supply chain business is managed by an experienced team of 11, led by Mr. Ma, who has over 20 years of international trade experience, focusing on various commodities including coal and machinery[69] - The company aims to enhance its green energy project investments in Yunnan Province and Southeast Asia, leveraging local government relationships to increase revenue and profit contributions[70] Corporate Governance - The company did not recommend a final dividend for the year ending December 31, 2023, consistent with 2022[28] - The board of directors has not declared a final dividend for the fiscal year 2023[75] - The company has not engaged in any buybacks or redemption of its listed securities during the fiscal year 2023[78] - The audit committee has reviewed the company's financial performance and has no objections to the accounting principles adopted[79] - The board of directors consists of five executive directors and three independent non-executive directors as of the announcement date[88] Future Outlook - In 2024, the company will intensify investments in quality green energy projects to improve profitability and create long-term value for shareholders[70] - The company plans to expand its supply chain operations in South Asia and Southeast Asia, utilizing its major shareholder's overseas network resources[71] - The company will establish a dedicated team to explore business resources and strengthen relationships with potential customers and suppliers in the energy sector[71]
云能国际(01298) - 2023 - 年度业绩