Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 548,688,967, an increase of 22.1% compared to HKD 449,403,342 in 2022[2] - Gross profit for 2023 was HKD 88,347,519, down from HKD 94,285,660 in 2022, representing a decrease of 6.3%[3] - The company reported a net loss of HKD 82,071,950 for 2023, compared to a loss of HKD 2,401,214 in 2022, indicating a significant increase in losses[4] - Basic loss per share for 2023 was HKD 32.35, compared to HKD 0.77 in 2022[4] - The company reported a total comprehensive loss of HKD 65,334,885 for the year ended December 31, 2023, which includes a loss of HKD 81,961,487 from operations[8] - The company reported a loss of HKD 7,355,103 in 2023, compared to a profit of HKD 2,650,146 in 2022[37] - The total loss before tax for the year was HKD 74,716,847, compared to a loss of HKD 5,051,360 in the previous year[26] - Total other income and losses for 2023 amounted to a loss of HKD 7,116,401, compared to a gain of HKD 68,716,756 in 2022[87] Assets and Liabilities - Non-current assets decreased to HKD 377,731,354 in 2023 from HKD 381,987,711 in 2022, a decline of 1.3%[6] - Current assets decreased to HKD 690,422,827 in 2023 from HKD 761,772,899 in 2022, a decline of 9.3%[6] - Total liabilities increased to HKD 345,655,094 in 2023 from HKD 355,619,813 in 2022, an increase of 2.8%[7] - The company's total equity attributable to owners decreased to HKD 726,639,362 as of December 31, 2023, down from HKD 791,974,247 at the beginning of the year[8] - The company's cash and cash equivalents decreased to HKD 99,493,689 in 2023 from HKD 125,297,011 in 2022, a decrease of 20.6%[6] - The group's total assets as of December 31, 2023, amounted to HKD 1,068,154,181, while total liabilities were HKD 345,352,094[29] Revenue Breakdown - The lending business generated revenue of HKD 5,672,580 in 2023, up from HKD 3,784,531 in 2022, marking a growth of 50.0%[26] - The manufacturing and sales business reported a revenue decline to HKD 346,642,843 in 2023 from HKD 411,781,643 in 2022, a decrease of about 15.8%[26] - The property development business achieved revenue of HKD 160,429,227 in 2023, with a profit of HKD 11,569,298, compared to a loss of HKD 11,870,601 in 2022[26] - Revenue from property sales reached HKD 160,429,227 in 2023, while there was no revenue from this segment in 2022[31] - Revenue from external customers in China increased significantly to HKD 353,542,293 in 2023, up 52.7% from HKD 231,688,354 in 2022[34] - The music and entertainment business generated revenue of HKD 3,985,706 in 2023, slightly up from HKD 3,806,067 in 2022, with a stable loss of around HKD 3,447,739[26] - The trading business reported revenue of HKD 29,174,721 in 2023, an increase from HKD 27,837,042 in 2022, with a loss of HKD 2,306,067[26] Operational Changes - The company transferred HKD 38,512,183 from property, plant, and equipment to investment properties, reflecting a strategic shift in asset allocation[8] - The company plans to disclose information related to the OECD's Pillar Two tax reform in future financial statements once applicable legislation is enacted[17] - The company continues to monitor the impact of international tax reforms on its financial reporting and tax liabilities[17] - The company plans to continue expanding its customer base and enhancing its lending and trading businesses[56] - The company will continue to hire more overseas sales agents and participate in trade fairs to reach new customers in 2024[94] - The company plans to expand its lending business cautiously while collaborating with other lending companies to attract new customers[93] Investments and Future Plans - The company is developing an industrial park on a land area of approximately 208,000 square meters in Qingyuan, China, which includes multiple industrial and commercial buildings[73] - The company plans to initiate enforcement procedures to auction the Qingyuan land parcel, with shareholder approval obtained for this action[71] - The group anticipates delivering properties in the Zhongxing Industrial Park, with a total construction area of approximately 27,000 square meters, to buyers in 2024[99] - The group has signed joint venture agreements with two independent third parties to promote overseas concert activities, expecting to invest in more performances in regions like the UK and the Greater Bay Area of China[97] Financial Management - The company incurred a tax expense of HKD 7,355,103 in 2023, which included HKD 4,474,177 for land appreciation tax in China[37] - The company did not declare or recommend any dividends for the years ending December 31, 2023, and 2022[45] - The board of directors did not recommend a final dividend for the year, consistent with the previous year[114] - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the group's annual performance and consolidated financial statements[118] - Deloitte has audited the group's consolidated financial statements for the year and issued an unqualified opinion report[120] Employee and Operational Efficiency - The total employee cost for the year was approximately HKD 174.2 million, down from HKD 189.6 million in the previous year, with a workforce of about 1,000 full-time employees[110] - The group plans to enhance operational efficiency by streamlining production processes to reduce waste and improve profitability in the printing industry[96] - The manufacturing and sales business will focus on enhancing procurement capabilities and production efficiency to reduce overall production costs[94] - The company will invest in new equipment for its expanded production lines to improve efficiency and reduce labor costs[94] Market Conditions and Challenges - The company anticipates facing various challenges in 2024 due to global economic and political uncertainties, particularly between China and other countries[91] - Increased awareness of sustainable development is expected to create new opportunities for environmentally friendly products and printing solutions in 2024[91]
中星集团控股(00055) - 2023 - 年度业绩