Financial Performance - In 2023, the company's revenue was HKD 17,134.0 million, an increase from HKD 16,031.9 million in 2022[2] - The gross profit for 2023 was HKD 934.1 million, down from HKD 1,372.3 million in 2022, resulting in a gross margin of 5.5%, a decrease of 3.1 percentage points from 8.6% in 2022[2] - The profit attributable to the company's owners was HKD 64.1 million in 2023, compared to HKD 336.1 million in 2022[2] - The basic earnings per share for 2023 was HKD 0.0187, down from HKD 0.0980 in 2022[6] - The operating profit for the year was HKD 17,342,928, with a pre-tax profit of HKD 109,930 after accounting for financial expenses of HKD 224,719[42] - The group reported a net profit of HKD 72,386 for the year, after tax expenses of HKD 37,544[42] - The operating profit decreased by 75.9% to HKD 123.7 million in 2023, down from HKD 514.2 million in 2022, primarily due to reduced gross profit contributions from electrolytic manganese products[115] - The EBITDA for 2023 was HKD 780.2 million, a decrease of 41.0% from HKD 1,323.0 million in 2022[115] - The group’s profit attributable to owners was HKD 64.1 million in 2023, down from HKD 336.1 million in 2022, with earnings per share decreasing to HKD 0.0187 from HKD 0.0980[161][162] Revenue Breakdown - The total revenue for the year ending December 31, 2023, reached HKD 17,133,960, with external sales from the manganese mining segment in China amounting to HKD 131,203 and from Gabon at HKD 1,182,462[42] - Total external customer sales reached HKD 16,031,885,000, with significant contributions from electrolytic manganese and alloy materials production at HKD 3,377,047,000 and battery materials production at HKD 1,986,662,000[43] - Revenue from mainland China reached HKD 16,581,604, an increase of 10.6% from HKD 14,989,718 in the previous year[69] - Total customer contract revenue for the year ended December 31, 2023, was HKD 17,133,960, up from HKD 16,031,885 in 2022, representing a growth of 6.9%[96] - Sales of manganese mining products amounted to HKD 1,313,665, while battery materials production generated HKD 2,754,029 in revenue[96] - The total revenue from manganese ore mining increased by 4.5% to HKD 1,313.7 million in 2023, up from HKD 1,257.2 million in 2022[145] - The total revenue from trading business rose by 20.6% to HKD 11,348.0 million in 2023, compared to HKD 9,411.0 million in 2022[145] - The revenue from electrolytic manganese and alloy materials production was HKD 2,754.0 million in 2023, representing an 18.4% increase[145] Expenses and Liabilities - The total current liabilities amounted to HKD 7,231.7 million, compared to HKD 7,073.7 million in 2022[8] - The total non-current liabilities decreased to HKD 1,305.9 million in 2023 from HKD 1,544.6 million in 2022[25] - The total financial expenses for 2023 were HKD 243.2 million, slightly up from HKD 221.3 million in 2022[100] - Administrative expenses increased by 3.3% to HKD 644.8 million in 2023, up from HKD 623.9 million in 2022, mainly due to increased R&D spending on battery materials and alloys[156] - The group’s net current liabilities increased to 891.3 million HKD, up from 746.3 million HKD in 2022, due to more long-term loans maturing within one year[197] Asset Management - As of December 31, 2023, the net debt ratio increased to 121.9%, up from the previous year's figure[2] - The total assets less current liabilities were HKD 4,134.3 million, a decrease from HKD 4,376.9 million in 2022[24] - The total assets of the group amounted to HKD 11,366,020, while total liabilities were HKD 8,537,658, resulting in a net asset position[42] - The total assets amounted to HKD 11,450,624,000, while total liabilities were HKD 8,618,338,000, resulting in a net asset position[43] - Cash and bank balances as of December 31, 2023, were HKD 1,291.2 million, down from HKD 1,606.3 million in 2022[166] Market and Operational Insights - The company continues to expand its operations in the manganese mining and battery materials production sectors, focusing on enhancing production capabilities and market reach[38] - The group is exploring new strategies for market expansion and product development, particularly in battery materials and manganese production[88] - The company plans to continue expanding its market presence and investing in new technologies to enhance production capabilities[43] - The group’s largest customer accounted for less than 10% of total revenue, indicating a diversified customer base[71] Impairments and Losses - The company recognized impairment losses totaling HKD 132,632,000 during the year, impacting overall profitability[43] - The company experienced a net loss from financial assets of HKD 8.9 million in 2023, compared to a minor loss of HKD 164, indicating a substantial increase in financial asset impairments[112] - Financial asset impairment losses in 2023 were HKD 8.9 million, compared to HKD 0.2 million in 2022, primarily from long-aged customers in the battery materials segment[158] Dividends and Shareholder Returns - The company did not recommend any dividend payment for the year ended December 31, 2023[6] - The board did not recommend any dividend payment for the year ending December 31, 2023, consistent with the previous year[189]
南方锰业(01091) - 2023 - 年度业绩