Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue of HKD 6,709.3 million, a decrease of 16.8% compared to HKD 8,062.7 million in 2022[2] - The gross profit margin increased to 44.6%, with a net profit margin rising to 17.4%, despite a revenue decline[5] - Revenue for the year ended December 31, 2023, was HKD 6,709,324, a decrease of 16.8% compared to HKD 8,062,702 in 2022[18] - Gross profit for the same period was HKD 2,994,001, down 9.4% from HKD 3,306,141 in 2022, resulting in a gross margin of 44.6%[18][20] - The net profit for the year was HKD 1,165,103, reflecting an 8.1% decline from HKD 1,268,203 in 2022[18] - Annual profit decreased by 8.1% to HKD 1,165.1 million in 2023 from HKD 1,268.2 million in 2022, with profit attributable to owners declining by 8.7% to HKD 1,155.2 million[30] - The company reported a net profit of HKD 1,165,103 thousand for the year, compared to a profit of HKD 1,253,964 thousand in 2022, reflecting a decrease of 7.0%[58] - The company's profit attributable to owners for the year ended December 31, 2023, was HKD 1,155,164,000, a decrease from HKD 1,264,675,000 in 2022, representing a decline of approximately 8.6%[66] Revenue Breakdown - Sales of Android smart payment terminals accounted for over 50% of total revenue, highlighting their importance to the business[6] - Revenue from electronic payment terminal products fell by 18.0% from HKD 7,836.7 million in 2022 to HKD 6,424.8 million in 2023, attributed to decreased procurement orders[22][23] - Service revenue increased by 25.9% from HKD 226.0 million in 2022 to HKD 284.5 million in 2023, driven by growth in maintenance, installation services, and SaaS solutions[24] - The SaaS solutions generated over HKD 100 million in revenue, with more than 11 million terminals connected to the MAXSTORE platform[6] Expenses and Costs - The company’s R&D expenses amounted to HKD 644.1 million, up from HKD 567.1 million in the previous year, reflecting a commitment to innovation[2] - Selling expenses decreased by 17.9% from HKD 821.6 million in 2022 to HKD 674.5 million in 2023, primarily due to lower sales commissions and transportation costs[27] - Administrative expenses increased by 4.5% from HKD 1,121.0 million in 2022 to HKD 1,171.5 million in 2023, mainly due to rising R&D costs and employee benefits[28] - The cost of goods sold was HKD 3,538,104,000, down from HKD 4,595,464,000 in the previous year[63] Assets and Liabilities - Total current assets decreased by 7.6% to HKD 7,553,221 from HKD 8,173,014 in 2022, while total liabilities decreased by 38.5% to HKD 1,589,155[19] - The total assets as of December 31, 2023, were HKD 9,075,329 thousand, down from HKD 9,490,329 thousand in 2022[48] - Total liabilities decreased to HKD 1,589,155 thousand from HKD 2,584,479 thousand, a reduction of 38.6%[49] - Accounts payable decreased to HKD 888,621,000 in 2023 from HKD 1,699,530,000 in 2022, representing a reduction of approximately 47.8%[77] Market and Growth - The global payment terminal market is projected to grow from USD 15.7 billion in 2023 to USD 29.6 billion by 2030, with a compound annual growth rate of 9.5%[14] - The company achieved record sales in Mexico, Chile, and Argentina, contributing significantly to growth in the Latin American market[10] - The company reported a significant sales growth in the Asia-Pacific region, with sales in Japan doubling and sales in the Philippines increasing by over 400%[12] - The company aims to strengthen its international presence, particularly in Latin America, the Middle East, and Southeast Asia, while exploring strategic acquisition opportunities[17] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.21 per share for 2023, totaling approximately HKD 225,464,000, an increase from HKD 183,341,000 in 2022[70] - The proposed final dividend for the year ended December 31, 2023, is HKD 0.23 per share, amounting to approximately HKD 246,056,000, up from HKD 205,165,000 in 2022[71] - The total dividend per share for the year ending December 31, 2023, is HKD 0.44, compared to HKD 0.36 in 2022, reflecting an increase of approximately 22.2%[83] Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code and has implemented necessary training for directors and senior management[86] - The audit committee has reviewed the accounting policies adopted by the group and the audited consolidated financial statements for the year ended December 31, 2023[87] - The auditor, PwC, confirmed that the figures in the preliminary performance announcement are consistent with the audited consolidated financial statements for the year ended December 31, 2023[87] - The company maintains sufficient public float as required by the listing rules as of the announcement date[88] Research and Development - The company recognized additional R&D tax incentives amounting to HKD 72,786,000 for the year ended December 31, 2023, compared to none in 2022[65] - Research and development costs increased to HKD 644,075,000 in 2023 from HKD 567,141,000 in 2022[63]
百富环球(00327) - 2023 - 年度业绩