Financial Performance - The total revenue for the year ended December 31, 2022, was HKD 616,064,000, a decrease of 3.5% from HKD 636,517,000 in 2021[2] - Gross profit increased to HKD 287,762,000, up 1.8% from HKD 283,264,000 in the previous year[2] - The net profit for the year was HKD 402,641,000, a significant decline of 61.6% compared to HKD 1,049,684,000 in 2021[2] - The company reported a loss from operations of HKD 179,194,000, compared to an operating profit of HKD 52,643,000 in the prior year[2] - The profit before tax for 2022 was HKD 609,734,000, a decrease of 47.3% compared to HKD 1,156,943,000 in 2021[35] - The group reported a total income of HKD 326,856,000 in 2022, compared to HKD 79,721,000 in 2021, indicating a significant increase[29] - The company's profit for the year was approximately HKD 403 million, representing a year-on-year decline of about 61.64%, equating to a profit of approximately HKD 0.1749 per share[46] Assets and Liabilities - Total assets decreased to HKD 15,359,867,000 from HKD 15,846,528,000, reflecting a decline of 3.1%[4] - The company's equity attributable to shareholders decreased to HKD 14,864,295,000 from HKD 15,364,863,000, a drop of 3.2%[4] - The total liabilities increased to HKD 447,355,000 in 2022 from HKD 270,894,000 in 2021, reflecting a rise of approximately 65.2%[24] - The total assets as of December 31, 2022, amounted to HKD 15,359,867,000, with total liabilities at HKD 493,503,000[17][19] - Non-current assets totaled HKD 9,275,004,000, down from HKD 10,023,164,000, indicating a decrease of 7.4%[4] - The company's cash and cash equivalents decreased to HKD 2,490,097,000 from HKD 4,197,541,000, a decline of 40.6%[4] Earnings and Dividends - The basic and diluted earnings per share were HKD 17.49, down from HKD 42.25 in the previous year[2] - The total proposed final dividend for 2022 is HKD 298,339,000, maintaining the same per share amount of HKD 12 as in 2021[39] Segment Performance - For the year ended December 31, 2022, the total revenue from the crude oil terminal and storage services segment was HKD 616,064,000, with external customer revenue also at HKD 616,064,000[14] - The segment performance for the crude oil terminal and storage services included a share of losses from joint ventures amounting to HKD 261,112,000 related to Vesta Terminal B.V.[14] - Revenue from crude oil terminal services accounted for over 91% of the group's total income, amounting to approximately HKD 563,617,000 in 2022, down from HKD 580,809,000 in 2021[28] Impairment and Losses - The group's impairment loss for the year ended December 31, 2022, was approximately HKD 629,772,000, a significant increase from HKD 156,551,000 in 2021, primarily due to the decision to discontinue the Batam project and the impairment provision for PT. West Point's non-current assets[52] - The company incurred a loss of approximately HKD 272 million from its investment in Vesta, primarily due to a valuation loss of about HKD 261 million[48] Government Support and Subsidies - The group received government subsidies totaling HKD 566,000 in 2022 under the Employment Support Scheme[31] - Government subsidies for the year ended December 31, 2022, amounted to approximately HKD 53,714,000, a significant increase of about 260.28% from HKD 14,909,000 in 2021, primarily due to local government subsidies related to land planning[62] Corporate Governance - The company adhered to high standards of corporate governance to protect and enhance shareholder interests[69] - The independent auditor, KPMG, confirmed that the financial data disclosed in the performance announcement aligns with the audited financial statements for the year[70] - The Audit Committee consists of four independent non-executive directors responsible for accounting standards, auditing, internal controls, and compliance[71] - The Remuneration Committee is composed of six members, chaired by independent non-executive director Ms. Tam[72] - The Nomination Committee also has six members, chaired by independent non-executive director Dr. Wong[72] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[73] Other Financial Metrics - The aging analysis of accounts receivable shows that overdue amounts over 12 months were zero in 2022, compared to HKD 87,769,000 in 2021[38] - The company’s income tax expense increased to HKD 207,093,000 in 2022 from HKD 107,259,000 in 2021, an increase of 93.2%[35] - The total accounts payable decreased to HKD 37,218,000 in 2022 from HKD 116,963,000 in 2021, a decrease of 68.2%[41] - The current ratio as of December 31, 2022, was approximately 26.02, compared to 24.34 in 2021, while the debt-to-asset ratio was approximately 3.21%, up from 2.82% in 2021[61]
中石化冠德(00934) - 2022 - 年度业绩