Financial Performance - Revenue for the fiscal year 2023 was HKD 16,750.2 million, a decrease of 25% from HKD 22,363.7 million in 2022[2] - EBITDA for 2023 was HKD 2,450.3 million, down 44% from HKD 4,378.6 million in the previous year[2] - Profit before tax decreased by 63% to HKD 1,276.5 million from HKD 3,451.3 million in 2022[2] - Basic earnings per share (EPS) dropped to HKD 0.318, a decline of 50% from HKD 0.642 in the prior year[2] - Net profit attributable to shareholders was HKD 991.0 million, a decrease of 51% from HKD 2,002.7 million in the previous year[2] - Total revenue for the year 2023 was HKD 16,750,248, a decrease of 25.3% from HKD 22,363,680 in 2022[12] - The revenue from property sales significantly dropped to HKD 113,592 from HKD 3,064,620, indicating a decline of 96.3%[12] - The copper-clad laminate segment's revenue fell by 14% to HKD 16,478.8 million, with a significant drop in gross margin due to intense competition[33] - The real estate segment's revenue plummeted by 93% to HKD 22.68 million, with profit before tax declining by 96% to HKD 5.79 million[34] - Basic net profit attributable to shareholders dropped by 51% to HKD 990 million[31] Dividends - The company declared a total dividend of HKD 0.160 per share, down 54% from HKD 0.350 in 2022[2] - The group declared an interim dividend of HKD 0.06 per share for the year 2023, compared to HKD 0.15 per share in 2022, with a total proposed final dividend of HKD 312,000,000[24] - The proposed final dividend is HKD 0.10 per share, subject to approval at the 2024 Annual General Meeting[40] Assets and Liabilities - The net debt-to-equity ratio increased to 16% from 7% in 2022[2] - The net asset value decreased to HKD 14,975,237 in 2023 from HKD 15,071,991 in 2022, reflecting a decline of 0.6%[8] - The company’s total liabilities decreased to HKD 8,221,624 in 2023 from HKD 9,013,727 in 2022, a reduction of 8.8%[8] - The company’s total assets less current liabilities stood at HKD 17,967,573, down from HKD 19,592,246, a decrease of 8.3%[8] - The company’s equity attributable to shareholders decreased to HKD 14,951,235 from HKD 15,048,892, a decline of 0.6%[8] Cash Flow and Investments - Cash and cash equivalents decreased to HKD 2,027.2 million from HKD 3,289.9 million in the previous year[7] - The group’s financing costs for the year amounted to HKD 273,694, up from HKD 130,392 in 2022, primarily due to increased bank borrowing interest[20] - The company invested approximately HKD 700 million in new production facilities during 2023, aiming for long-term stable returns for shareholders[36] - The company has invested HKD 300 million in distributed solar photovoltaic power generation projects, expected to produce 65 million kWh of green electricity annually, saving 18,000 tons of standard coal and reducing CO2 emissions by approximately 39,000 tons[38] - The company has invested around HKD 80 million in heat recovery equipment, which is expected to reduce CO2 emissions by 37,000 tons annually, equivalent to saving 15,000 tons of standard coal, and saving approximately HKD 80 million in expenses each year[38] Market and Future Outlook - The company anticipates a gradual rebound in the copper-clad laminate market, driven by increasing demand for new energy vehicles and related products, as well as the widespread adoption of clean energy and AI technologies[38] - By December 31, 2024, the company plans to increase total investment to approximately HKD 600 million, projecting an annual production of 130 million kWh of green electricity, saving 36,000 tons of standard coal and reducing CO2 emissions by 78,000 tons[38] - The company will increase copper-clad laminate production capacity in Thailand by 400,000 sheets per month in 2024 to align with its development pace[38] Financial Reporting and Governance - The company has agreed with Deloitte to publish the consolidated financial statements for the year ending December 31, 2023, which will be approved by the board on March 18, 2024[46] - The financial statements will include the consolidated balance sheet, consolidated income statement, and other comprehensive income statements[46] - Deloitte's work does not constitute an assurance engagement, and they will not express any opinion or guarantee conclusions on the preliminary announcement[46] - The board of directors includes several executive and non-executive members, indicating a diverse leadership structure[46] - The announcement date is set for March 18, 2024, which aligns with the company's financial reporting schedule[46] - The company is preparing for the upcoming financial year with a focus on transparency and compliance with auditing standards[46] - The company is maintaining its relationship with Deloitte for auditing purposes, ensuring credibility in its financial reporting[46] - The announcement reflects the company's commitment to adhering to regulatory requirements and best practices in financial disclosures[46]
建滔积层板(01888) - 2023 - 年度业绩