Financial Performance - The annual toll revenue amounted to RMB 3,906 million, reflecting a 5% increase year-on-year[8]. - The company's total comprehensive loss for the year was HKD 1,701,823 thousand, compared to a profit of HKD 455,660 thousand in the previous year[14]. - The company reported a profit of HKD 84,329,000 for the year, with construction, wastewater treatment, and steam fuel generating a profit of HKD 246,431,000[44]. - The company reported a segment loss of HKD 1,410,178,000 for 2023, compared to a profit of HKD 84,329,000 in 2022[55]. - The company reported a loss attributable to shareholders of HKD 1,590,000,000 for the year, compared to a loss of HKD 7,000,000 in 2022[77]. - The group recorded a loss before tax of HKD 1,225 million for the year, compared to a profit of HKD 298 million in 2022[152]. Revenue and Traffic - In 2023, the total traffic volume for the company's highway projects in mainland China and Indonesia reached 118 million vehicles, with an average daily mixed traffic volume of approximately 362,300 vehicles, representing a 14% increase compared to last year[8]. - Revenue from construction contracts was HKD 12,246,812,000, while revenue from wastewater treatment operations was HKD 51,333,000[39]. - The company’s operations in Hong Kong generated revenue of HKD 12,494,689,000, while operations in China contributed HKD 216,868,000[39]. - The total revenue for the year ended December 31, 2023, was HKD 12,711,557,000, with construction, wastewater treatment, and steam fuel contributing HKD 12,459,316,000[39]. - The total revenue for the year 2023 was HKD 13,294,856,000, a decrease from the previous year's revenue of HKD 12,711,557,000[53]. Assets and Liabilities - Trade receivables increased to HKD 1,046,733 thousand in 2023 from HKD 854,517 thousand in 2022[16]. - Current liabilities rose to HKD 5,701,937 thousand in 2023, up from HKD 5,288,446 thousand in 2022[16]. - The company's non-current assets decreased to HKD 8,914,186 thousand in 2023 from HKD 10,370,363 thousand in 2022[16]. - The company's cash and cash equivalents decreased to HKD 1,664,534 thousand in 2023 from HKD 2,318,005 thousand in 2022[16]. - The company's total assets less current liabilities stood at HKD 10,653,637 thousand in 2023, down from HKD 12,303,648 thousand in 2022[16]. - The total liabilities as of December 31, 2023, remained unaffected by the amendments to the financial reporting standards[33]. Equity and Shareholder Information - The company's net assets decreased from HKD 10,879,663,000 in 2022 to HKD 9,100,370,000 in 2023, a decline of 16.3%[18]. - The equity attributable to owners of the company fell from HKD 9,984,160,000 in 2022 to HKD 8,098,319,000 in 2023, a decrease of 18.9%[18]. - The company does not recommend the distribution of a final dividend for the year ending December 31, 2023[64]. - Basic loss per share for the year was HKD 200.49, compared to HKD 0.85 in the previous year[155]. Financial Costs and Expenses - Financial costs increased to HKD 107,866,000 in 2023 from HKD 74,282,000 in 2022, primarily due to higher interest on bank loans[57]. - The financial costs for the year amounted to HKD 108 million, up from HKD 74 million in 2022[149]. - The amortization of intangible assets significantly decreased to HKD 15 million from HKD 112 million, indicating a reduction in intangible asset-related expenses[135]. - The depreciation of property, plant, and equipment dropped to HKD 72 million from HKD 132 million, suggesting improved asset management[135]. Investments and Acquisitions - The company completed the acquisition of a project company in Tseung Kwan O for approximately HKD 369,000,000, enhancing its land bank[73]. - The group has entered into an agreement to sell its entire mainland road business for RMB 4,411.8 million, with expected after-tax proceeds of approximately HKD 1,500 million[144]. - The group has completed the acquisition of a 20% stake in a city redevelopment project in Shenzhen for approximately HKD 800 million[145]. Future Outlook and Strategies - The company plans to continue optimizing its toll road business and seek reasonable investment return highway projects in the Asia-Pacific region in 2024[70]. - The company plans to continue optimizing its product offerings and strengthen cash flow management to enhance its market position[81]. - The company will adopt a conservative strategy in making new investment decisions, closely monitoring performance and regularly reviewing investment strategies[121]. - The construction sector is expected to maintain performance in 2024, but will not exceed the results of 2023 due to a challenging business environment[128].
WAI KEE HOLD(00610) - 2023 - 年度业绩