Financial Performance - For the year ended December 31, 2023, the total revenue was HKD 235,507,000, representing an increase of 11.9% compared to HKD 210,514,000 in 2022[10] - Gross profit for the same period was HKD 69,598,000, up 27.8% from HKD 54,463,000 in the previous year[10] - The net profit attributable to the owners of the parent company was HKD 21,461,000, a rise of 4.6% from HKD 20,513,000 in 2022[12] - The company reported a total comprehensive income of HKD 11,838,000, compared to a loss of HKD 8,033,000 in 2022[10] - The pre-tax profit for 2023 was HKD 29,787,000, a rise of 28.8% from HKD 23,103,000 in 2022[90] - The net profit for the reporting period was approximately HKD 21.9 million, an increase of about 4.9% compared to HKD 20.9 million in 2022[132] - The net profit margin for the reporting period was approximately 9.3%, down from 9.9% in 2022[132] Revenue Breakdown - Revenue from mainland China was HKD 210,799,000 in 2023, up 14.9% from HKD 183,397,000 in 2022[29] - Revenue from a third party amounted to HKD 41,187,000 in 2023, representing over 10% of total revenue, compared to HKD 29,254,000 in 2022[30] - The company reported a decrease in revenue from the Americas, which fell to HKD 15,014,000 in 2023 from HKD 17,130,000 in 2022, a decline of 12.3%[29] - Customer contract revenue for 2023 was HKD 235,507,000, an increase of 11.4% from HKD 210,514,000 in 2022[62] Expenses and Costs - The cost of goods sold for 2023 was HKD 165,909,000, compared to HKD 156,051,000 in 2022, indicating an increase of 6.0%[69] - Total tax expense for the year was HKD 7,897,000, which represents an effective tax rate of 26.5% compared to 9.6% in 2022[90] - Administrative expenses for the reporting period were approximately HKD 25.6 million, a 17.0% increase from HKD 21.9 million in 2022[131] - Sales and distribution expenses were approximately HKD 4.9 million, a reduction of about 30.0% compared to HKD 7.0 million in the previous year, primarily due to strict cost control measures[156] Assets and Liabilities - The total assets less current liabilities decreased to HKD 323,924,000 from HKD 369,870,000, reflecting a decline of 12.4%[7] - The total non-current assets value was HKD 192,943,000 in 2023, down from HKD 220,496,000 in 2022, a decrease of 12.5%[29] - The total equity attributable to owners of the parent company decreased to HKD 312,682,000 from HKD 357,251,000, a decline of 12.5%[8] - The net asset value as of December 31, 2023, was HKD 316,994,000, down from HKD 362,325,000 in 2022, reflecting a decline of 12.5%[77] Cash Flow and Financing - The cash and cash equivalents dropped significantly to HKD 39,500,000 from HKD 112,790,000, a decrease of 65.0%[7] - The group had available bank financing of approximately HKD 89.0 million as of December 31, 2023, compared to HKD 90.0 million as of December 31, 2022[136] - The total interest-bearing bank and other borrowings decreased to HKD 39,296,000 in 2023 from HKD 45,051,000 in 2022[106] - The group has floating rate bank financing of HKD 88.87 million due within one year[152] Research and Development - Research and development expenses were HKD 10,323,000, slightly down from HKD 11,023,000 in the previous year[10] - R&D expenses for 2023 amounted to HKD 10,323,000, a decrease of 6.4% from HKD 11,023,000 in 2022[69] - A new R&D laboratory will be established with an investment of HKD 12 million, of which HKD 3.3 million has been utilized, and the remaining HKD 8.7 million is expected to be used by 2024[190] Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[12] - The group aims to explore new business opportunities to enhance shareholder value while consolidating existing operations[168] - The company plans to allocate HKD 48 million for expanding production capacity, including upgrading existing production lines and acquiring a new production line[190] Governance and Management - The company emphasizes the importance of separating the roles of Chairman and CEO, although currently, the same individual holds both positions due to their experience and reputation[193] - The company has established a Nomination Committee to review board structure and ensure a balanced mix of skills and experience among directors[198] - The Risk Management Committee has been formed to review and approve the company's hedging policies and ensure effective execution[198]
中国铝罐(06898) - 2023 - 年度业绩