Financial Performance - For the year ended December 31, 2022, the company reported total revenue of HKD 10,064,529 thousand, a decrease of 21.9% from HKD 12,885,638 thousand in 2021[3] - The gross profit for the year was HKD 1,053,314 thousand, down 55.8% compared to HKD 2,385,473 thousand in the previous year[3] - The company recorded a loss before tax of HKD 1,022,757 thousand, contrasting with a profit before tax of HKD 1,063,934 thousand in 2021[3] - The net loss attributable to equity holders for the year was HKD 1,360,224 thousand, compared to a profit of HKD 631,807 thousand in the prior year[3] - Basic and diluted loss per share for the year was HKD (40.71), compared to earnings per share of HKD 2.67 in 2021[3] - The company reported a significant decrease in external sales from HKD 12,885,638 in 2021 to HKD 10,064,529 in 2022, representing a decline of about 22%[31] - The company reported a loss attributable to equity holders of HKD (1,362,468) for 2022, compared to a profit of HKD 89,209 in 2021[58] - The total comprehensive loss for the year was HKD 4,280,640, significantly down from HKD 1,365,336 in the previous year[88] - The company's total revenue for the year 2022 was HKD 10.065 billion, a decrease of 21.9% compared to HKD 12.886 billion in 2021[136] - Revenue from real estate development decreased by 21.1% to HKD 9.875 billion, accounting for 98.1% of total revenue, primarily due to project delays caused by the pandemic[140] - The company's gross profit margin decreased from 18.5% to 10.5%, attributed to lower-margin projects being recognized and losses in the professional construction business[150] Expenses and Liabilities - The company incurred selling and marketing expenses of HKD 394,500 thousand, compared to HKD 468,420 thousand in 2021, reflecting a decrease of 15.8%[3] - Administrative and other expenses were HKD 582,408 thousand, down from HKD 695,485 thousand in the previous year, indicating a reduction of 16.2%[3] - The total liabilities as of December 31, 2022, were HKD 50,574,927, compared to HKD 54,055,333 in 2021, indicating a reduction of approximately 6%[32] - The company's financial costs rose by 16.2% to HKD 961 million, primarily due to increased borrowing and rising bank interest rates[155] - The company's asset-liability ratio increased to 75.1% from 70.0% in the previous year, mainly due to the repayment of HKD 2.448 billion in perpetual capital instruments[159] - The net debt ratio rose to 94.5% from 38.9% in the previous year, indicating a significant increase in leverage[160] Asset Management - The total segment assets as of December 31, 2022, amounted to HKD 60,548,253, down from HKD 69,601,916 in 2021, reflecting a decline of approximately 13%[32] - Non-current assets totaled HKD 7,244,734, a decrease from HKD 8,123,710 in the previous year[89] - Current assets decreased to HKD 60,142,291 from HKD 69,049,534 year-on-year[89] - The group maintained a cash position with unrestricted cash and bank deposits of HKD 7,701,361, down from HKD 10,956,126[89] - The group has pledged assets valued at approximately HKD 195 million as collateral for bank credit and mortgage loans[122] Revenue Sources - The company reported other income of HKD 126,839 thousand, an increase from HKD 91,590 thousand in the previous year[3] - Revenue from customer contracts for 2022 was HKD 10,022,500, a decrease of 22.0% from HKD 12,832,477 in 2021[45] - The cost of sold properties for 2022 was HKD 8,703,169, down 14.5% from HKD 10,196,779 in 2021[46] - The total income tax expense for 2022 was HKD 337,467, a decrease of 22.4% from HKD 432,127 in 2021[49] - The professional construction business revenue fell by 54.0% to HKD 148 million, primarily due to project delays and cost overruns[66] - The rental income from property investment decreased by 20.8% to HKD 42 million, with a gross profit margin decline of 10.7 percentage points to 66.9%[75] Strategic Developments - The group is developing the Xihu Future City project in Chengdu, integrating residential, leisure, and industrial components[84] - The group has established a strategic partnership with the Chengdu government to develop a transportation and aviation industrial ecosystem[123] - The group is actively developing a multi-functional industrial space in Fujian Province, focusing on the valve industry and attracting leading enterprises[130] Accounting and Compliance - The company is currently evaluating the impact of new accounting standards, which are not expected to have a significant effect on the financial statements[17] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with values presented in Hong Kong dollars (HKD) rounded to the nearest thousand[98] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2022, and recommended their approval to the board[191] - The audit committee discussed accounting policies, internal controls, and other financial reporting matters with management and external auditors[191]
五矿地产(00230) - 2022 - 年度业绩