Financial Performance - The company reported a net profit of HKD 19,891,000 for the year ended December 31, 2023, compared to a loss of HKD 18,499,000 in 2022, marking a significant turnaround [2]. - The company’s total comprehensive income for the year was HKD 1,042,000, a recovery from a loss of HKD 77,342,000 in 2022 [2]. - The group reported a net profit attributable to shareholders of HKD 13.3 million for 2023, compared to a loss of HKD 17.3 million in 2022 [39]. - The profit attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 13.3 million, compared to a loss of approximately HKD 17.3 million in 2022 [116]. - The company reported a profit before tax of HKD 38,507,000 for 2023, compared to a loss of HKD 15,394,000 in 2022, indicating a significant turnaround in performance [136]. - The income tax expense for 2023 was HKD 18,616,000, up from HKD 3,105,000 in 2022, reflecting increased profitability [136]. - The net financial income for 2023 was HKD 1,249 thousand, a significant increase from HKD 155 thousand in 2022 [96]. - The group reported a net exchange loss of HKD 6,205 thousand in 2023, an improvement from a loss of HKD 20,573 thousand in 2022 [93]. Revenue and Sales - Total revenue decreased by 32.21% to approximately HKD 72,600,000 in 2023, down from HKD 107,100,000 in 2022, primarily due to reduced sales of flowers and plants [19]. - Revenue for 2023 was HKD 72,582,000, a decrease of 32.3% from HKD 107,120,000 in 2022 [4]. - The sales revenue from the flower and plant segment for the year ended December 31, 2023, was approximately HKD 6.3 million, a decline of about 83.85% compared to HKD 39 million in 2022 [33]. - The factoring and re-factoring business generated revenue of HKD 493.7 million, reflecting a slight decrease of HKD 629,000 compared to the previous year [30]. - The loan financing segment contributed revenue of approximately HKD 50.5 million for the year ended December 31, 2023, down 13.53% from HKD 58.4 million in 2022 [174]. - The investment property segment generated revenue of approximately HKD 15.8 million for the year ended December 31, 2023, representing an increase of 62.89% compared to HKD 9.7 million in 2022 [190]. Assets and Liabilities - The total assets of the group as of December 31, 2023, amounted to HKD 1,002.6 million, with total liabilities of HKD 64.7 million [57]. - The company’s equity attributable to shareholders was HKD 763,246,000, slightly down from HKD 764,019,000 in the previous year [5]. - The total loans granted to customers were approximately HKD 496,141,000 in 2023, down from HKD 525,158,000 in 2022, with interest rates ranging from 9.4% to 11.0% [152]. - The group’s total assets as of December 31, 2022, were HKD 1,004,531 thousand, with total liabilities of HKD 63,978 thousand [104]. - The group’s capital debt ratio was zero as of December 31, 2023, indicating no net debt [116]. - The group had no taxable profits for the years ended December 31, 2023, and 2022, thus no provision for Hong Kong profits tax was required [95]. Cash and Liquidity - As of December 31, 2023, the group's cash and cash equivalents amounted to approximately HKD 159.5 million, an increase from HKD 147.3 million in 2022, indicating sufficient liquidity for operations and future development [64]. - The current ratio as of December 31, 2023, was approximately 11.4, slightly down from 11.5 in 2022, reflecting stable short-term financial health [64]. - The company had no short-term or long-term borrowings as of December 31, 2023, the same as in 2022 [200]. Investment and Development - The group is committed to cautious business expansion while ensuring safety and compliance, aiming for long-term high-quality development [35]. - The group is focusing on expanding sales channels and adapting to market demands to maintain competitiveness in the flower and plant market [33]. - The company plans to seek development opportunities in the non-performing asset management industry and optimize its business model to align with regulatory requirements [198]. - The company aims to enhance its disposal capabilities and efficiency by establishing effective disposal processes and collaborating with quality service providers [198]. - The group anticipates that the Chinese economy will continue its recovery trend in 2024, supported by government measures aimed at achieving high-quality economic development [35]. Corporate Governance and Compliance - The group has adhered to corporate governance standards, with an audit committee comprising three independent non-executive directors reviewing the consolidated financial statements for the fiscal year ending December 31, 2023 [67]. - The company has maintained a cautious approach to business development, aiming for long-term stable growth [141]. Employee and Operational Management - The group is committed to enhancing employee training programs using internal and external resources to improve skills across various operational areas [85]. - The company has been actively managing its receivables, with a total of HKD 10,542,000 in trade receivables as of December 31, 2023, compared to HKD 11,037,000 in 2022 [154].
东银国际控股(00668) - 2023 - 年度业绩