Financial Performance - The company reported a revenue of HKD 26,911,000 for the year ended December 31, 2023, representing an increase of 20.5% compared to HKD 22,312,000 in 2022[4]. - Gross profit for the year was HKD 4,882,000, up 86.0% from HKD 2,626,000 in the previous year[4]. - The company incurred a loss attributable to owners of HKD 1,643,000, a significant decrease from a profit of HKD 49,290,000 in 2022[4]. - The group reported a pre-tax loss of HKD 1,218,000 for the year ending December 31, 2023, compared to a profit of HKD 3,363,000 in 2022[66]. - The company reported a significant reduction in net loss attributable to shareholders, narrowing to HKD 1,600,000 from a profit of HKD 49,300,000 in the previous year[85]. Assets and Liabilities - Total assets increased to HKD 27,046,000 in 2023 from HKD 22,193,000 in 2022, reflecting a growth of 21.0%[6]. - The group’s total assets were valued at HKD 27,046,000, with total liabilities amounting to HKD 5,618,000[66]. - Total liabilities decreased to HKD 5,600,000 from HKD 17,000,000[88]. - The company has no borrowings as of December 31, 2023, maintaining a strong financial position with a net asset value of HKD 21,400,000[88]. Cash Flow and Liquidity - Cash and cash equivalents rose sharply to HKD 18,166,000 from HKD 4,960,000, indicating a substantial increase in liquidity[6]. - The net cash generated from operating activities was HKD 3,500,000, compared to HKD 60,000 in 2022, while net cash from investing activities was HKD 200,000, improving from a cash outflow of HKD 40,000[88]. Share Capital and Equity - The group issued 8,476,364 shares at HKD 0.55 each to repay operational funding loans amounting to HKD 4,662,000, resulting in an increase in share capital and share premium of HKD 678,000 and HKD 3,984,000 respectively[31]. - The average number of ordinary shares outstanding increased to 51,241,000 in 2023 from a restated 19,923,000 in 2022[76]. - The company issued a total of 113,868,640 shares as of December 31, 2023, up from 28,467,160 shares in 2022, due to a rights issue that raised net proceeds of HKD 18,000,000[89]. - The company recognized a gain of HKD 55,704,000 from the termination of liabilities, which was not present in the current fiscal year[4][10]. - The company’s total equity increased to HKD 21,428,000 in 2023, compared to HKD 5,189,000 in 2022, marking a growth of 312.5%[6]. Trade Receivables and Impairments - Trade receivables decreased to HKD 2,728,000 from HKD 10,693,000, showing a reduction of 74.5%[6]. - The expected credit loss ratio for trade receivables was 16.1%, with a loss provision of approximately HKD 1,812,000[80]. - The impairment provision for trade receivables in 2023 was HKD 155, compared to HKD 1,812 in 2022, indicating a significant reduction in losses[93]. Expenses - Administrative expenses slightly decreased to HKD 6,048,000 from HKD 6,152,000, reflecting a reduction of 1.7%[4]. - The company’s financial expenses decreased significantly to HKD 3,000 from HKD 1,157,000, indicating improved cost management[4]. - The group’s administrative expenses included employee costs of HKD 2,073,000, up from HKD 1,619,000 in the previous year[52]. - The group recognized a provision for inventory costs of HKD 22,029,000, an increase from HKD 19,686,000 in 2022[52]. Revenue Breakdown - The group reported total revenue of HKD 22,312,000 for the year 2023, with contributions from home goods, planting, and decoration businesses being HKD 11,244,000, HKD 4,902,000, and HKD 6,166,000 respectively[48]. - Revenue from a single customer in the home goods business amounted to HKD 4,087,000, while a customer in the planting business generated HKD 4,006,000, and three customers in the decoration business contributed HKD 5,530,000, HKD 4,901,000, and HKD 2,850,000, each accounting for 10% or more of total revenue[49]. - Sales of home products decreased to HKD 6,644,000 in 2023 from HKD 11,244,000 in 2022, representing a decline of 41.5%[71]. Future Outlook - The outlook remains uncertain due to global economic challenges, including ongoing US-China tensions and high interest rates, which may impact business activities[87]. - The company aims to explore opportunities in the financial services sector, despite no revenue in recent years, to revitalize this business segment[86]. Compliance and Governance - The company has complied with GEM listing rules regarding director securities trading standards[106]. - The board of directors is in the process of identifying suitable candidates to fill the vacancy of the Chief Executive Officer position[106].
曼妠(08186) - 2023 - 年度业绩