Financial Performance - Total revenue for K & P International Holdings Limited for the year ended December 31, 2023, was HKD 185.79 million, a decrease of 31.7% compared to HKD 272.10 million in 2022[3]. - Gross profit for the year was HKD 25.65 million, down 53.7% from HKD 55.32 million in the previous year[3]. - The company reported a loss before tax of HKD 26.57 million, compared to a profit of HKD 1.31 million in 2022[3]. - The net loss attributable to owners of the company for the year was HKD 26.10 million, compared to a loss of HKD 503,036 in the previous year[3]. - Basic and diluted loss per share for the year was HKD 0.0977, compared to HKD 0.0019 in 2022[3]. - Total comprehensive loss for the year amounted to HKD 29.13 million, compared to HKD 7.12 million in 2022[4]. - The adjusted loss before tax for the precision components segment was HKD 24,241,878, while the headquarters and other segment reported a loss of HKD 3,762,656, resulting in a total adjusted loss before tax of HKD 26,567,262[22]. - The company reported a pre-tax loss of HKD 26,567,262 for 2023, compared to a profit of HKD 1,306,185 in 2022[35]. - The group reported a net loss after tax of approximately HKD 26,100,000 for the year[59]. Revenue Breakdown - Revenue from product sales was HKD 185,786,572, down 31.7% from HKD 272,102,667 in the previous year[29]. - Major customers contributing over 10% of revenue included Customer A with HKD 43,214,506 and Customer B with HKD 28,917,208, totaling HKD 72,131,714 for 2023, down from HKD 103,287,042 in 2022[26]. - Revenue from the Greater China region decreased significantly from HKD 27,083,355 in 2022 to HKD 14,205,598 in 2023, reflecting a decline of 47.6%[26]. - The group's revenue for the year ended December 31, 2023, was approximately HKD 185,800,000, a decrease of 31.7% compared to the previous year[47]. - The group's revenue decreased by 31.7% to approximately HKD 185,800,000 compared to last year[59]. Assets and Liabilities - Non-current assets decreased to HKD 194.62 million from HKD 203.28 million in the previous year[6]. - Current assets decreased to HKD 189.04 million from HKD 233.63 million in 2022, primarily due to a reduction in inventory and accounts receivable[6]. - Total liabilities decreased to HKD 83.91 million from HKD 86.66 million in the previous year[6]. - The company's equity decreased to HKD 299.76 million from HKD 350.25 million in 2022[6]. - Total non-current assets in Hong Kong decreased from HKD 69,713,550 in 2022 to HKD 64,957,644 in 2023, a decline of 6.4%[26]. - The total equity of the group was approximately HKD 299,800,000 as of December 31, 2023[64]. Expenses and Costs - Employee expenses decreased to HKD 77,222,030, down 13.2% from HKD 88,930,862 in 2022[32]. - The cost of goods sold was HKD 160,137,871, a reduction of 26.2% from HKD 216,781,642 in the previous year[32]. - Sales and distribution costs decreased by 13.4% to approximately HKD 16,800,000, while administrative and other expenses decreased by 1.0% to approximately HKD 23,200,000[53]. - Depreciation expenses for property, plant, and equipment (excluding right-of-use assets) amounted to HKD 8,832,577 for the year[22]. Dividends and Subsidies - Proposed final dividend per share for 2023 is HKD 0.08, an increase from HKD 0.06 in 2022[37]. - The company received a government subsidy of approximately HKD 1,554 in 2023, significantly lower than HKD 291,596 in 2022[30]. Future Outlook - The group expects a gradual recovery in the global economy in 2024, with an increase in customer orders and new project developments[54]. - The financial position remains robust, allowing for potential business expansion or sufficient funding during economic uncertainties[54]. Other Financial Information - The company incurred a net loss of HKD 9,772,199 from fair value losses on financial liabilities/assets for the year[24]. - The group recorded an unrealized net loss of approximately HKD 9,800,000 from certain forward currency contracts due to the depreciation of the RMB against the USD[52]. - The group's cash and cash equivalents totaled approximately HKD 100,400,000 at the end of the reporting period[61]. - The group maintained a "net cash" position, with cash balances exceeding its debts[62]. - As of December 31, 2023, total bank borrowings amounted to approximately HKD 7,000,000[61]. - The company has adopted new accounting standards that do not significantly impact the consolidated financial statements[17][18]. - No fundraising activities were conducted by the group during the year 2023[65]. - The company’s capital expenditure for the year was HKD 4,556,104, reflecting ongoing investments in operations[24]. - Financing costs increased to HKD 520,757 in 2023, up from HKD 467,848 in 2022[31]. - The group had approximately 729 employees, with the majority based in mainland China[66].
坚宝国际(00675) - 2023 - 年度业绩