Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 46,884,000, an increase of 22.3% compared to HKD 38,379,000 in 2022[3] - The net profit for the year was HKD 264,999,000, a significant recovery from a loss of HKD 43,701,000 in the previous year[4] - Basic earnings per share improved to HKD 21.36 from a loss of HKD 3.52, indicating a strong turnaround in profitability[3] - Total comprehensive income for the year was HKD 268,646,000, compared to a loss of HKD 51,316,000 in the previous year[4] - The company reported a profit attributable to shareholders of HKD 264.999 million for 2023, compared to a loss of HKD 43.701 million in 2022[23] Asset and Liability Management - The company's total assets as of December 31, 2023, were HKD 2,567,827,000, up from HKD 1,715,145,000 in 2022[6] - Non-current liabilities decreased to HKD 745,076,000 from HKD 161,040,000, indicating improved financial stability[6] - Total assets increased from HKD 1,741,114,000 in 2022 to HKD 2,603,968,000 in 2023[36] - Total liabilities rose from HKD 187,009,000 in 2022 to HKD 781,217,000 in 2023, with a debt-to-asset ratio of approximately 30%[37] Investment Properties - The fair value gain from investment properties was HKD 259,453,000, compared to a loss of HKD 27,457,000 in 2022[3] - The fixed rental income from investment properties increased to HKD 40,366,000 in 2023, up from HKD 32,164,000 in 2022, representing a growth of approximately 25.5%[13] - The average occupancy rate for commercial properties at Hong Kong Crystal Center was approximately 99%[35] - The company plans to complete renovations at Harmony Square by the end of 2024, which is expected to boost rental income[35] - The company anticipates a slight increase in total rental income for the current year, with significant growth expected by 2025[49] Revenue Sources - Total revenue from Hong Kong and China for the year was HKD 46,315,000 and HKD 569,000 respectively, compared to HKD 37,115,000 and HKD 1,264,000 in 2022, indicating an increase of 24.5% in Hong Kong and a decrease of 55.1% in China[14] - Other income rose to HKD 13,358,000 from HKD 12,728,000, reflecting a growth of 4.9%[3] - The total income from other sources, including bank interest and government subsidies, rose to HKD 13,358,000 in 2023 from HKD 12,728,000 in 2022, marking an increase of 4.9%[15] Corporate Governance - The company has complied with the Corporate Governance Code, with specific deviations noted in the remuneration and audit committees' responsibilities[52][53] - The board of directors is composed of executive and independent non-executive directors, ensuring a diverse governance structure[61] - Deloitte Touche Tohmatsu has agreed that the financial figures presented in the consolidated financial statements for the year ending December 31, 2023, are accurate[55] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[3] - The company expects that the application of the new accounting standards will not have a significant impact on its financial position and performance[10] - The company has adopted new accounting standards effective from January 1, 2023, which may impact future financial reporting[8] Subsidiary Transactions - The group completed the sale of non-core properties for a total consideration of HKD 330 million, resulting in a net gain of HKD 8.744 million and a loss of HKD 2.042 million recognized in the profit and loss for 2023[17] - The total cash inflow from the sale of Tianan was HKD 80 million, with a net cash inflow of HKD 41.222 million after accounting for cash equivalents[17] - The total cash inflow from the sale of Union Group was HKD 250 million, with a net cash inflow of HKD 248.521 million after accounting for cash equivalents[18] Dividends and Shareholder Information - The company did not declare any dividends for the years ended December 31, 2023, and 2022[24] - Unclaimed dividends declared more than six years ago may be forfeited and returned to the company[58] - Shareholders must contact the company's share transfer agent by April 19, 2024, to claim any unreceived dividends[59] Accounting Practices - The company has not early adopted any of the new accounting standards that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[12] - The audit committee reviewed the accounting standards and practices adopted by the group for the fiscal year ending December 31, 2023[54]
亚证地产(00271) - 2023 - 年度业绩