Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 2,080,324, a decrease of 11.9% compared to HKD 2,362,390 in 2022[4] - The operating profit for the year was HKD 45,746, down 35.9% from HKD 71,497 in the previous year[4] - The net profit for the year was HKD 4,078, a significant decrease of 84.4% compared to HKD 26,104 in 2022[4] - Basic and diluted earnings per share decreased to HKD 0.86 from HKD 5.48, a decline of 84.3%[6] - Total revenue for the year 2023 was HKD 2,080,324,000, a decrease of 11.9% from HKD 2,362,390,000 in 2022[38] - The profit for the automotive sales and services segment was HKD 9,577 in 2023, a significant decrease from HKD 47,161 in 2022[48] - For the year ended December 31, 2023, total revenue decreased by 11.9% to HKD 2,080,324,000 from HKD 2,362,390,000 in the previous year, with profit dropping 84.4% to HKD 4,078,000 from HKD 26,104,000, primarily due to intense price competition among major automotive brands in China[72] Revenue Breakdown - Automobile sales revenue amounted to HKD 1,470,027,000, down from HKD 1,752,680,000 in the previous year, reflecting a decline of 16.1%[38] - Revenue from automobile services and parts sales was HKD 579,560,000, slightly up from HKD 577,473,000, indicating a marginal increase of 0.2%[38] - Technical service fee income decreased to HKD 8,896,000 from HKD 10,010,000, representing a decline of 11.1%[38] - Automobile leasing revenue was HKD 21,841,000, a slight decrease from HKD 22,227,000, showing a decline of 1.7%[38] - Revenue from mainland China was HKD 2,058,483 in 2023, down 12.0% from HKD 2,340,163 in 2022[53] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 1,758,886, compared to HKD 1,737,849 in 2022, reflecting a slight increase of 1.2%[8] - Current assets decreased to HKD 1,293,109 from HKD 1,257,472, a decrease of 2.8%[8] - The company's total liabilities increased to HKD 853,595 from HKD 842,082, an increase of 1.6%[9] - The total liabilities for 2023 were HKD 992,873, compared to HKD 967,861 in 2022, indicating an increase in financial obligations[51] - Trade receivables at the end of 2023 amounted to HKD 104,688,000, a decrease from HKD 135,501,000 in 2022[67] Other Income and Expenses - Other income increased to HKD 107,761 from HKD 59,891, representing an increase of 79.9%[4] - Financial costs increased to HKD 38,028,000 in 2023 from HKD 33,156,000 in 2022, reflecting higher interest expenses[57] - The company recorded a total tax expense of HKD 3,640,000 for 2023, down from HKD 12,237,000 in 2022[63] - Employee benefits expenses decreased by 4.1% to HKD 129,747,000 from HKD 135,364,000, reflecting a reduction in employee commissions and average headcount[80] Accounting Standards and Compliance - The adoption of Hong Kong Accounting Standard No. 1 (revised) has been applied prospectively since January 1, 2023, with no impact on the group's financial position or performance, but it has affected the disclosure of accounting policies in Note 2 of the consolidated financial statements[13] - The introduction of a new definition for accounting estimates under Hong Kong Accounting Standard No. 8 (revised) clarifies the distinction between changes in accounting policies and changes in accounting estimates, effective from January 1, 2023, with no impact on the group's consolidated financial statements[15] - The group has adopted the revisions to Hong Kong Accounting Standard No. 12 (revised) regarding deferred tax assets and liabilities related to single transactions, effective from January 1, 2023, requiring recognition of relevant deferred tax assets and liabilities at initial recognition[16] - The revisions to Hong Kong Financial Reporting Standard No. 16 (revised) regarding sale and leaseback transactions will be effective from January 1, 2024, and are not expected to have a significant impact on the consolidated financial statements[25] Future Outlook - The company plans to continue focusing on expanding its automotive sales and related services, although specific future projections were not detailed in the report[11] - The company plans to launch new electric vehicle models in 2024, aiming for significant sales growth compared to 2023[99] - The company remains optimistic about stable operations despite challenges in the automotive industry[99] Corporate Governance - The company has complied with corporate governance codes throughout the year ending December 31, 2023[111] - The audit committee held five meetings during the fiscal year ending December 31, 2023, reviewing quarterly, interim, and annual performance, as well as risk management and internal control systems[114] - The financial performance for the year ending December 31, 2023, has been audited and reviewed by the audit committee[114]
G.A.控股(08126) - 2023 - 年度业绩