载通(00062) - 2023 - 年度业绩

Financial Performance - The group's profit attributable to shareholders for the year ended December 31, 2023, was HKD 4.017 billion, a decrease from HKD 5.490 billion in 2022[2]. - The earnings per share for 2023 was HKD 0.83, down from HKD 1.17 in 2022[3]. - The flagship company, Kowloon Motor Bus Company, recorded a profit of HKD 1.15 billion in 2023, compared to a loss of HKD 49.9 million in 2022, primarily due to increased fare revenue[2]. - The group's total revenue for 2023 was HKD 7.266 billion, an increase of 19.3% from HKD 6.090 billion in 2022[3]. - The fair value changes of investment properties and properties under development resulted in a profit of HKD 287.38 million in 2023, compared to HKD 448.68 million in 2022[3]. - The total comprehensive income for the year was HKD 502.81 million, significantly up from HKD 220.32 million in 2022[6]. - The group reported a significant increase in other comprehensive income, totaling HKD 101.15 million in 2023, compared to a loss of HKD 328.73 million in 2022[6]. - The group reported a net loss of HKD 9,000,000 in 2023, a significant decrease from a profit of HKD 119,664,000 in 2022, representing a decline of approximately 107.5%[19]. - The group's total comprehensive income for 2023 was HKD 1,751,552,000, compared to HKD 1,640,175,000 in 2022, showing an increase of approximately 6.8%[19]. Dividends - The proposed final dividend for 2023 is HKD 0.50 per share, compared to HKD 0.50 per share in 2022, with a total annual dividend of HKD 0.80 per share[2]. - The board proposed a final dividend of HKD 0.50 per share, totaling HKD 247.2 million, maintaining the same amount as in 2022, with an overall annual dividend of HKD 0.80 per share, up from HKD 0.50 in 2022[39]. - The company declared an interim dividend of HKD 0.30 per share for 2023, totaling HKD 146,074,000, while the proposed final dividend is HKD 0.50 per share, amounting to HKD 247,172,000[25]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 21,018,120, an increase from HKD 20,592,605 in 2022, representing a growth of 2.1%[7]. - Non-current assets increased to HKD 20,887,870 from HKD 20,358,688, reflecting a rise of 2.6% year-over-year[7]. - The company's cash and bank deposits decreased to HKD 1,207,743 from HKD 1,799,592, a decline of 32.8%[7]. - Accounts receivable rose to HKD 1,025,064, up from HKD 957,169, indicating an increase of 7.1%[7]. - Total equity as of December 31, 2023, was HKD 16,405,587, compared to HKD 16,087,047 in 2022, marking a growth of 2.0%[8]. - The company reported a net current asset of HKD 130,250, down from HKD 233,917, a decrease of 44.8%[7]. - The total non-current liabilities increased to HKD 4,612,533 from HKD 4,505,558, reflecting a rise of 2.4%[8]. - The company’s total liabilities as of December 31, 2023, were reported at HKD 4,612,533, indicating a stable financial position[16]. Accounting Policies - The company changed its accounting policy for investment properties to fair value measurement, which is expected to provide more relevant information to financial statement users[11]. - The company has changed its accounting policy regarding long service payment liabilities to reflect the impact of the cancellation of the offset mechanism, resulting in adjustments to service costs and long service payment liabilities[13]. - The adjustments made due to the accounting policy change did not significantly affect the financial position as of January 1, 2022[13]. - The company has adopted the Hong Kong Institute of Certified Public Accountants' guidelines, which impacted the reported figures for comprehensive income and financial position[14]. Segment Performance - Kowloon Bus Company recorded a post-tax profit of HKD 11.5 million in 2023, a significant recovery from a post-tax loss of HKD 49.9 million in 2022, with fare revenue increasing by 16.7% to HKD 6.7407 billion[41]. - Long Win Bus Company reported a post-tax profit of HKD 23.1 million in 2023, compared to a post-tax loss of HKD 30.8 million in 2022, with fare revenue rising by 66.4% to HKD 526.7 million[42]. - The non-franchised transport business achieved a post-tax profit of HKD 13.9 million in 2023, up from HKD 1.4 million in 2022, driven by increased local demand and the resumption of cross-border services[43]. - The property holding and development segment recorded a post-tax profit of HKD 334 million, down from HKD 507.7 million in 2022, primarily due to a decrease in fair value gains from investment properties[45]. - The group's mainland China transportation business recorded a post-tax profit of HKD 31.1 million in 2023, compared to a post-tax loss of HKD 6.9 million in 2022[51]. Investments and Developments - KT Real Estate Limited's subsidiary, The Millennity, has completed two office buildings with a total floor area of approximately 650,000 square feet, and a retail space of over 500,000 square feet is under construction, expected to open in 2024[47][48]. - The Millennity's office portion is classified as investment property in the consolidated financial statements as of December 31, 2023[48]. - The Millennity's base shopping mall is currently under construction and is expected to be a significant addition to the group's portfolio upon completion[48]. - The group has a 31.38% equity stake in Beijing Beiqi Jiulong Taxi Co., with an investment amount of RMB 80 million, equivalent to HKD 75.5 million[53]. - The group’s investment in Shenzhen Bus Group is valued at approximately HKD 363.9 million[52]. Financing and Costs - As of March 31, 2023, the group's net debt amounted to HKD 29.843 billion, an increase from HKD 27.250 billion in 2022, with a current ratio of 1.0 compared to 1.1 in 2022[54]. - The total undrawn bank credit facilities as of March 31, 2023, were HKD 24.500 billion, significantly up from HKD 6.200 billion in 2022[55]. - The group's financing costs for the year amounted to HKD 1.101 billion, an increase from HKD 37.6 million in 2022, primarily due to higher average bank borrowings and an increase in the average annual interest rate from 1.78% in 2022 to 4.24% in 2023[55]. - Employee costs accounted for approximately 54% of the group's total operating costs in 2023, down from 56% in 2022, with total employee compensation (excluding retirement costs) amounting to HKD 39.688 billion, compared to HKD 38.056 billion in 2022[57]. Future Outlook - The group anticipates a recovery in passenger demand due to government initiatives to stimulate the economy and attract tourists, despite challenges from geopolitical tensions and fluctuating oil prices[58]. - The group has signed a strategic cooperation memorandum with Shenzhen Bus Group to enhance cross-border transportation and connectivity, leveraging resources for integrated transport solutions[59]. - The Millennity project has received multiple prestigious certifications, including LEED Platinum and WELL Platinum, indicating its strong performance in energy efficiency and environmental sustainability[59].