Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately HKD 89,100,000, a decrease of about 1.5% compared to HKD 90,500,000 for the year ended December 31, 2022[3]. - The loss attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 35,300,000, an increase of about 52.2% from HKD 23,200,000 for the year ended December 31, 2022[3]. - The total comprehensive loss for the year ended December 31, 2023, was HKD 35,283,000, compared to HKD 20,261,000 for the year ended December 31, 2022[8]. - The group reported a gross profit of HKD 5,063,000 for the year ended December 31, 2023, compared to HKD 5,479,000 for the year ended December 31, 2022[5]. - The group reported a total pre-tax loss of HKD 35,060,000 in 2023, compared to a pre-tax loss of HKD 19,989,000 in 2022, reflecting a significant increase in losses[23]. - The company reported a pre-tax loss of approximately HKD 35,253,000 for the year 2023, compared to a loss of HKD 23,202,000 in 2022, reflecting an increase in losses of about 51.5%[34]. - The group recorded a net loss of approximately HKD 8,000,000 this year, compared to a net loss of about HKD 3,300,000 in the previous year, mainly due to impairment losses on underperforming assets[69]. - The company's basic and diluted loss per share for the year ended December 31, 2023, was HKD 17.9, compared to HKD 14.4 for the year ended December 31, 2022[6]. Revenue Breakdown - Total revenue for the telecommunications services segment decreased to HKD 86,683,000 in 2023 from HKD 88,087,000 in 2022, representing a decline of approximately 1.6%[20]. - The information technology business revenue also saw a decrease, falling to HKD 1,048,000 in 2023 from HKD 1,106,000 in 2022, a decline of about 5.2%[20]. - The total customer contract revenue for the group was HKD 87,731,000 in 2023, down from HKD 89,193,000 in 2022, indicating a decrease of approximately 1.6%[20]. - Revenue from external customers in Hong Kong for the telecommunications services segment decreased to HKD 19,516,000 in 2023 from HKD 27,325,000 in 2022, a decline of approximately 28.5%[26]. - Revenue from Singapore for the telecommunications services segment decreased to HKD 47,953,000 in 2023 from HKD 60,762,000 in 2022, a decline of about 21%[26]. - Major customers contributing over 10% of revenue included Customer A with HKD 20,038,000 in 2023, down from HKD 24,681,000 in 2022, a decrease of approximately 18.5%[27]. - The telecommunications business recorded revenue of approximately HKD 86,700,000, a decrease of about 1.6% from approximately HKD 88,100,000 in the previous year[50]. - The company generated approximately HKD 19,200,000 in revenue from GPS services this year[52]. - The company recorded approximately HKD 5,900,000 in revenue from the trial of SMS wholesale services this year[53]. - The IT services segment generated approximately HKD 1,000,000 in revenue, a decrease of about 9.1% from approximately HKD 1,100,000 in the previous year[55]. - Revenue from the electronic store renovation contracts increased by approximately 100.0% from about HKD 200,000 in the previous year to approximately HKD 400,000 this year[55]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[3]. - The company did not recommend any dividends for the years ending December 31, 2023, and 2022[33]. - The board expressed gratitude to shareholders and business partners for their continued support[100]. Assets and Liabilities - The group's current liabilities exceeded its current assets by approximately HKD 19,540,000 as of December 31, 2023[10]. - The total assets less current liabilities amounted to HKD 33,000,000 as of December 31, 2023, down from HKD 64,910,000 in the previous year[10]. - The total assets of the group increased to HKD 73,614,000 in 2023 from HKD 87,607,000 in 2022, showing a decrease of approximately 16%[24]. - The total liabilities rose to HKD 46,030,000 in 2023 from HKD 24,740,000 in 2022, indicating an increase of about 86%[24]. - As of December 31, 2023, the group's net asset value decreased to approximately HKD 27,600,000 from HKD 62,900,000 in 2022, primarily due to operating losses[72]. - The group's cash and bank balances decreased to approximately HKD 6,100,000 from HKD 18,000,000, mainly due to a net cash outflow of approximately HKD 27,100,000 from operating activities[74]. - The debt-to-asset ratio, calculated as the percentage of loans from former directors and bank loans to net assets, was approximately 53.3%, compared to 9.1% in 2022[75]. - As of December 31, 2023, the group had bank loans amounting to HKD 9,000,000, which was not present in 2022[75]. Operational Measures and Future Plans - The group plans to enhance and implement measures aimed at improving operational funding and cash flow, including closely monitoring general administrative expenses and operating costs[16]. - The company is seeking additional financial support, including but not limited to borrowing, issuing additional equity, or bonds[16]. - The group aims to diversify its business and seek new opportunities to enhance shareholder returns[66]. - The group plans to invest more resources in system enhancements and product supply to improve customer experience on the platform[65]. Employee Costs and Expenses - The company's employee costs totaled HKD 14,499,000 in 2023, up from HKD 13,068,000 in 2022, which is an increase of about 10.9%[30]. - The group’s operating and administrative expenses increased by approximately 37.9% from about HKD 21,900,000 to about HKD 30,200,000 due to higher director remuneration and employee costs[71]. - The total employee cost for the year was approximately HKD 14,500,000, an increase from about HKD 13,100,000 in the previous year, with 28 employees as of December 31, 2023[83]. Audit and Compliance - The independent auditor confirmed that the consolidated financial statements fairly present the financial position and performance of the group as of December 31, 2023[94]. - The audit committee, along with external auditors, reviewed the consolidated financial statements and found them to be prepared in accordance with applicable accounting standards[90]. - There were no significant post-reporting date events that required disclosure[91]. - The annual report containing all information required by the listing rules will be published on the stock exchange and the company's website[99]. Market Conditions - Singapore's GDP growth for the year was 1.1%, down from 3.8% in the previous year[48]. - The inflation rate in Singapore for 2023 was 4.8%, reflecting a broad slowdown in the prices of goods and services[45]. - The number of inbound travelers in Singapore exceeded 1 million per month since February 2023, following the lifting of COVID-19 restrictions[45]. - The global GDP growth is projected to slow from 3.0% in 2023 to 2.9% in 2024, with various geopolitical risks potentially impacting recovery[60].
长城天下(00524) - 2023 - 年度业绩