Financial Performance - The company's revenue for the year was approximately HKD 6,936,000,000, a decrease of about 16% compared to HKD 8,256,000,000 in the previous year[9] - The company recorded a loss attributable to equity holders of approximately HKD 231,000,000, compared to a profit of HKD 172,000,000 in the previous year[14] - The group reported a loss of HKD 328.8 million for the year, compared to a profit of HKD 58.1 million in 2022, indicating a significant decline in profitability[36] - The total comprehensive expenses for the year amounted to HKD 644.2 million, down from HKD 1,039 million in the previous year[36] - The basic loss per share attributable to equity holders was approximately HKD 27.3 cents, compared to a basic earnings per share of approximately HKD 20.4 cents for the previous year[58] - The gross profit for the same period was approximately HKD 508,000,000, an increase of about 9.4% year-on-year[58] Revenue Breakdown - Revenue from the China market (excluding Hong Kong) was HKD 6,495 million, down from HKD 7,943 million in the previous year, representing a decline of approximately 18%[45] - Revenue from China (excluding Hong Kong) decreased to HKD 6,031,433,000 in 2023 from HKD 7,065,638,000 in 2022, representing a decline of approximately 14.6%[67] - Revenue from Vietnam increased to HKD 307,987,000 in 2023, up from HKD 272,034,000 in 2022, marking a growth of about 13.2%[67] Cost and Expenses - Other expenses decreased by approximately 80.8% to about HKD 75,000,000, compared to HKD 392,000,000 in the previous year, primarily due to reduced impairment losses[13] - The group’s financing costs totaled HKD 214.6 million, an increase from HKD 121.6 million in 2022, reflecting higher interest expenses on bank and other loans[50] - The group recorded a significant increase in withholding tax expenses of approximately HKD 93,000,000 due to higher dividends from its subsidiaries in mainland China[9] - Operating costs decreased by approximately 17.6% to HKD 664,000,000 in 2023 from HKD 806,000,000 in 2022, with the operating cost as a percentage of revenue slightly declining to about 9.6%[80] Assets and Liabilities - Total non-current assets decreased from approximately HKD 7,545,933,000 in 2022 to approximately HKD 6,527,161,000 in 2023[61] - Current assets decreased from approximately HKD 6,643,997,000 in 2022 to approximately HKD 5,628,353,000 in 2023[61] - Total liabilities decreased from approximately HKD 5,614,298,000 in 2022 to approximately HKD 4,679,412,000 in 2023[62] - The total equity attributable to equity holders decreased from approximately HKD 7,443,287,000 in 2022 to approximately HKD 6,756,792,000 in 2023[62] Market Outlook - The company expects a gradual return to balance in supply and demand in the global personal computer market, with potential growth in 2024 driven by AI developments and operating system updates[10] - The global PC market experienced a decline of 14.8% in shipments, totaling 242 million units in 2023, the lowest since 2006[76] - The company anticipates a gradual recovery in the PC market towards the end of 2023, following a period of declining shipments[76] Foreign Exchange and Risk Management - The group has implemented forward foreign exchange contracts to mitigate potential foreign exchange losses due to fluctuations in the USD/CNY exchange rate[19] - The group’s management will continue to monitor foreign exchange risks and adopt conservative measures to reduce adverse impacts from currency fluctuations[19] Employee and Production Changes - The number of employees decreased to approximately 23,000 in 2023 from about 30,000 in 2022, with employee costs (excluding directors' remuneration) at approximately HKD 1,856,000,000, down from HKD 2,481,000,000[87] - The group plans to relocate part of its production capacity to Vietnam to adapt to global supply chain changes, with construction contracts for the new facility already established[103] - The group expects to enhance production efficiency and flexibility in response to downstream manufacturers' supply chain requirements in Vietnam[103] Capital and Investments - As of December 31, 2023, the group had capital commitments of approximately HKD 253,000,000 for the acquisition of buildings, machinery, and office equipment, up from HKD 93,000,000 in 2022[88] Dividend and Shareholder Returns - The board does not recommend a final dividend for the year, compared to a dividend of HKD 0.05 per share in 2022[90] Auditor and Compliance - The consolidated financial statements for the year ended December 31, 2023, have been verified by the company's auditor, Ernst & Young, ensuring consistency with the reported figures[119] - The board of directors has reviewed the accounting policies and financial performance of the group for the year[121]
巨腾国际(03336) - 2023 - 年度业绩