Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 549,554,000, representing a 24.8% increase from HKD 440,528,000 in 2022[4] - Gross profit for the same period was HKD 110,022,000, a significant increase from HKD 13,927,000 in the previous year, indicating a gross margin improvement[4] - The net profit for the year was HKD 61,475,000, compared to HKD 5,802,000 in 2022, reflecting a substantial growth in profitability[4] - Basic and diluted earnings per share increased to HKD 12.60 from HKD 1.19, showcasing strong earnings growth[4] - The company reported a pre-tax profit of HKD 61,479,000 for 2023, a significant increase from HKD 5,804,000 in 2022, representing a growth of approximately 964%[35] - The net profit attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 61,479,000, a significant increase from approximately HKD 5,804,000 in 2022, driven by higher revenue and gross profit[64] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 253,361,000, up from HKD 142,575,000 in 2022, indicating robust asset growth[5] - The company's net current assets increased to HKD 115,621,000 from HKD 55,751,000, highlighting improved liquidity[5] - Non-current assets rose to HKD 19,736,000 from HKD 14,371,000, reflecting ongoing investment in long-term assets[5] - The company has a total equity of HKD 131,071,000, compared to HKD 69,596,000 in the previous year, demonstrating enhanced shareholder value[5] - The company's trade payables rose to HKD 23,839,000 in 2023 from HKD 17,376,000 in 2022, an increase of approximately 37%[39] - The group's capital debt ratio as of December 31, 2023, was approximately 78%, down from 102% in 2022, indicating improved financial stability[71] Revenue Sources - Revenue from public tunnel projects was HKD 325,178,000, up 45.5% from HKD 223,521,000 in the previous year[28] - The group has no independent operating segment financial information due to resource integration, with all revenue derived from Hong Kong[24][25] - Major customers contributing over 10% of total revenue included Customer M with HKD 189,767,000 and Customer B with HKD 186,027,000 in 2023[26] Operational Highlights - The company is focused on expanding its underground construction services, which may drive future revenue growth[9] - The company has secured 10 public construction projects and 5 private sector projects, with a total contract value of approximately HKD 518,262,000 and change orders of about HKD 26,583,000 for the year ended December 31, 2023[42] - The company is exploring opportunities for diversification in the construction industry beyond tunnel engineering, indicating a strategic shift in business focus[42] - The company is actively applying innovative construction technologies, such as automation and artificial intelligence, to enhance safety, environmental efficiency, and productivity[49] Employee and Administrative Expenses - The company’s employee benefits expenses decreased to HKD 201,096,000 in 2023 from HKD 246,230,000 in 2022, a reduction of about 18%[34] - The company’s total employee costs, including service costs and administrative expenses, were approximately HKD 201,096,000 for the year ending December 31, 2023, down from approximately HKD 246,230,000 in 2022, primarily due to reduced employee costs in service costs[80] - Administrative expenses increased from approximately HKD 25,547,000 in 2022 to approximately HKD 28,013,000 in 2023, an increase of about HKD 2,466,000 or 9.7%, aligning with the increase in revenue[60] Government Grants and Support - Government grants received in 2023 amounted to HKD 728,000, a decrease from HKD 14,546,000 in 2022[32] - The company did not receive any government employment support grants in 2023, unlike the previous year[32] Future Outlook - The company plans to adopt revised Hong Kong Financial Reporting Standards upon their effective date, with no significant impact expected on the consolidated financial statements[19] - The company plans to declare a final dividend of HKD 0.05 per share for 2023, compared to no dividend in 2022, amounting to HKD 24,390,000[35] Compliance and Governance - The company has adopted and complied with the corporate governance code since its listing on February 22, 2017, ensuring proper regulation of business activities and decision-making processes[83] - The audit committee, consisting of three independent non-executive directors, has reviewed the annual results for the year ending December 31, 2023[90] Miscellaneous - The company will hold its annual general meeting on May 24, 2024, with a suspension of share transfer registration from May 20 to May 24, 2024[89] - The company has not purchased, redeemed, or sold any of its listed securities during the reporting period[87] - The company will publish its annual report by April 30, 2024, in compliance with GEM listing rules[95] - There were no significant events affecting the group from December 31, 2023, to the date of this announcement[81]
骏杰集团控股(08188) - 2023 - 年度业绩