Financial Performance - The company's annual profit for the year ended December 31, 2022, was HKD 458,612,000, a significant decrease from HKD 1,984,489,000 in 2021, representing a decline of approximately 77.1%[2] - Total comprehensive income for the year was HKD (1,330,878,000), compared to HKD 2,964,289,000 in the previous year, indicating a decrease of around 144.9%[2] - Total revenue for the group in 2022 was HKD 17,155,976, a decrease from HKD 24,677,949 in 2021, representing a decline of approximately 30.4%[23] - The company reported a net loss of HKD 302,257,000 from impairment losses on receivables, compared to a loss of HKD 136,256,000 in the previous year, indicating a significant increase in impairment[34] - The pre-tax profit attributable to the company's owners was a loss of HKD 495,378 thousand in 2022, compared to a profit of HKD 1,028,245 thousand in 2021[56] - The group recorded a net loss of HKD 1.335 billion due to significant depreciation of the RMB against the USD, impacting overall performance[91] - The group's annual profit after tax was HKD 459 million, with a loss attributable to shareholders of HKD 495 million[91] Revenue Breakdown - Revenue from property sales amounted to HKD 16,102,946,000, down from HKD 23,687,815,000 in 2021, reflecting a decline of approximately 32.2%[16] - Revenue from property management and services increased to HKD 819,305,000 from HKD 733,604,000, marking an increase of about 11.7%[16] - Revenue from property sales and services, including commercial rental income and other income, was HKD 16,999,550 and HKD 156,426 respectively in 2022, compared to HKD 24,498,509 and HKD 179,440 in 2021[23] - The group's share of revenue from real estate joint ventures and associates was HKD 10,210,076 in 2022, down from HKD 12,230,990 in 2021, indicating a decrease of about 16.5%[23] - In 2022, the real estate division generated revenue of RMB 17.073 billion, down from RMB 24.569 billion in 2021, with a profit of HKD 1.262 billion[122] Assets and Liabilities - The company's total equity decreased to HKD 32,760,483,000 from HKD 35,798,380,000, a reduction of about 8.5%[5] - The company's cash and cash equivalents decreased from HKD 10,257,686,000 to HKD 7,923,720,000, representing a decrease of about 22.9%[5] - Total assets for the real estate development and investment segment were HKD 71,467,414 in 2022, a slight decrease from HKD 90,026,698 in 2021[24] - The group's total assets amounted to HKD 90.002 billion, down from HKD 108.236 billion in the previous year[97] - The group's total liabilities decreased to HKD 57,241,890,000 from HKD 72,437,351,000, representing a reduction of approximately 21%[41] - The group's liabilities as of 2022 were classified as non-current, with total liabilities amounting to HKD 56,121,949, a decrease from HKD 71,123,819 in 2021[24] Cash Flow and Liquidity - The company's cash and cash equivalents decreased to HKD 8,261.655 million from HKD 12,599.575 million, representing a decline of 34.4%[81] - The group’s cash and bank balances were HKD 8.262 billion, with 81% in RMB and 19% in other currencies[97] - The company reported a significant reduction in short-term lease expenses from HKD 8,942 thousand in 2021 to HKD 6,870 thousand in 2022, a decrease of about 23.2%[50] - The company’s cash and cash equivalents increased, reflecting improved liquidity management strategies during the reporting period[60] Dividends and Shareholder Returns - The company announced no final dividend for the year 2022, compared to a total dividend of HKD 524,536 thousand in 2021[59] - The company did not recommend any final dividend for the year ended December 31, 2022[90] Strategic Focus and Future Outlook - The group aims to develop and manage toll roads and invest in real estate businesses, indicating a strategic focus on infrastructure and property sectors[24] - The group expects the mainland real estate market to stabilize and recover by the end of 2023, despite short-term uncertainties and a cautious approach to land acquisition[119] - The group plans to continue reviewing the operational status of remaining businesses and will take appropriate actions as necessary[102] Market Conditions and Challenges - The company reported a foreign exchange loss of HKD (1,811,030,000) compared to a gain of HKD 1,006,425,000 in the previous year, indicating a significant negative shift[2] - The fair value loss on investment properties amounted to HKD 119,255,000, a notable increase from HKD 42,766,000 in the prior year, reflecting market challenges[34] - The average daily mixed traffic volume on domestic highways decreased by 17% to 227,300 vehicles, with toll revenue down 12% to RMB 2.782 billion[94][101] Employee and Operational Costs - Total employee costs (excluding directors' remuneration) decreased from HKD 1,129,203 thousand in 2021 to HKD 1,018,688 thousand in 2022, a decrease of approximately 9.8%[50] - The total number of employees as of December 31, 2022, was 4,374, with employee expenses amounting to HKD 1.099 billion, excluding directors' remuneration and share-based payments[113]
路劲(01098) - 2022 - 年度业绩