Financial Performance - The group's revenue for the year ended December 31, 2023, was HKD 12,500,000,000, slightly up from HKD 12,400,000,000 in 2022, indicating a growth of approximately 0.8%[10] - Gross profit increased to HKD 1,300,000,000 for the year ended December 31, 2023, compared to HKD 1,000,000,000 in the previous year, reflecting a growth of 30%[12] - Shareholders' profit attributable to the company was HKD 474,000,000, up from HKD 434,000,000 in 2022, representing an increase of about 9.2%[12] - The company's total revenue for the year ended December 31, 2023, was HKD 12,507,000,000, representing an increase from the previous year's revenue[33] - Profit attributable to the company's owners for the year was HKD 474,000,000, compared to HKD 434,327,000 in 2022, reflecting a growth of approximately 9.1%[33][23] - The basic earnings per share for the year was HKD 0.38, up from HKD 0.35 in the previous year[23] - Net profit for the year was HKD 467,449, a rise of 8.9% from HKD 429,166 in 2022[38] - Basic earnings per share increased to HKD 38.1, up from HKD 35.0 in the previous year, reflecting a growth of 8.9%[36] - Profit before tax increased to HKD 641,000, representing a growth of 16.3% compared to HKD 551,470 in 2022[36] Revenue Sources - Total construction contract revenue for the year was HKD 12,300,000,000, up from HKD 12,200,000,000 in 2022, showing a growth of approximately 0.8%[16] - Revenue from domestic environmental infrastructure projects reached HKD 217,000,000, up from HKD 202,000,000 in 2022, with a reduction in segment loss to HKD 15,000,000 from HKD 24,000,000[27] - Revenue from construction contracts in Hong Kong was HKD 12,290,182,000, compared to HKD 12,220,379,000 in the previous year, showing an increase of about 0.57%[62] - The company reported operational revenue from sewage treatment plants in China amounting to HKD 51,333,000, a slight decrease from HKD 51,819,000 in the previous year[62] - Steam fuel plant operations generated revenue of HKD 161,171,000 in China, up from HKD 127,939,000, indicating a significant increase of approximately 26%[62] Expenses and Losses - Employee compensation rose to HKD 1,706,000,000 in 2023 from HKD 1,560,000,000 in 2022, reflecting an increase of approximately 9.3%[13] - The fair value loss on financial assets was HKD 123,000,000 in 2023, compared to HKD 56,000,000 in 2022, indicating a significant increase in losses[13] - Tax expenses increased to HKD 174,000,000 in 2023 from HKD 122,000,000 in 2022, marking an increase of about 42.6%[14] Dividends - The proposed final dividend is HKD 0.08 per share, down from HKD 0.105 per share in 2022, with a total annual dividend of HKD 0.12 per share[8] - The company proposed a final dividend of HKD 0.08 per share, totaling approximately HKD 99,350,000, subject to shareholder approval[22] - The company declared a final dividend of HKD 10.5 cents per share for the year 2022, totaling HKD 130,397, and an interim dividend of HKD 4.0 cents per share for 2023, totaling HKD 49,675[73] Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 6,625,288, compared to HKD 6,305,431 in 2022, indicating an increase of 5.1%[40] - Current liabilities rose to HKD 5,500,139, up from HKD 5,107,486 in the previous year, marking an increase of 7.7%[47] - The total equity attributable to the owners of the company increased to HKD 2,376,470, a growth of 13.6% from HKD 2,092,919 in 2022[47] - The company’s cash and cash equivalents decreased to HKD 1,299,649 from HKD 2,037,124 in 2022, a decline of 36.3%[40] - As of December 31, 2023, the group's current assets amounted to HKD 1,390,000,000, a decrease of 42% from HKD 2,391,000,000 as of December 31, 2022[81] - The total equity as of December 31, 2023, was HKD 2,402,000,000, representing an increase of 13% from HKD 2,126,000,000 as of December 31, 2022[85] - The capital debt ratio as of December 31, 2023, was 10%, down from 15% as of December 31, 2022[85] - The group had interest-bearing borrowings totaling HKD 238,000,000 as of December 31, 2023, a decrease of 24% from HKD 313,000,000 as of December 31, 2022[81] - The group had fixed-rate borrowings totaling HKD 41,000,000 as of December 31, 2023, slightly down from HKD 44,000,000 as of December 31, 2022[84] Investments and Acquisitions - The company completed the acquisition of a 20% stake in a Shenzhen project for approximately HKD 800,000,000, diversifying its future revenue sources[29] - The company completed the acquisition of a project company owning land in Tseung Kwan O for approximately HKD 369,000,000 on April 28, 2023[74] - The land acquired is currently designated for agricultural use, with plans to apply for an increase in plot ratio and change of use under a pilot scheme[75] - The company has extended the deadline for due diligence conditions related to the acquisition to April 30, 2024, allowing for further review[75] - The total consideration for the acquisition may be reduced by up to HKD 16,100,000 if certain conditions regarding residential use are not met[75] Regulatory and Accounting Changes - The application of new and revised Hong Kong Financial Reporting Standards did not have a significant impact on the group's financial position and performance for the year[51] - The group has not adopted the newly issued but not yet effective revised Hong Kong Financial Reporting Standards, which are set to take effect in 2024 and beyond[57] - The company is adjusting its accounting policies in response to the cancellation of the MPF offset mechanism, which will formally take effect on May 1, 2025[53] - The group has implemented guidance from the Hong Kong Institute of Certified Public Accountants regarding the accounting implications of the cancellation of the MPF offset mechanism, ensuring reliable and relevant information[54] Operational Highlights - The average output capacity of the company's steam supply operations increased by 31%, from 62 tons per hour in 2022 to 81 tons per hour in 2023[27] - The total income from the sewage treatment plant operations was HKD 51,333,000, reflecting the company's ongoing commitment to environmental services[62] - The overall service income from the group indicates a stable performance amidst regulatory changes and market conditions[62] - Total segment revenue for the year ended December 31, 2023, was HKD 12,507,050, with HKD 12,290,182 from Hong Kong and HKD 216,868 from China[64] - Segment profit for Hong Kong was HKD 816,439, while China reported a loss of HKD 15,364, resulting in a total segment profit of HKD 801,075[64] - Investment income for the year was HKD 4,306, despite a fair value loss of HKD 123,441 on financial assets[64] Meeting and Governance - The annual general meeting is scheduled for May 21, 2024, at the Harbour Plaza Metropolis Hotel in Hong Kong[94]
利基控股(00240) - 2023 - 年度业绩