Revenue and Profit - EMS department revenue for the year ended December 31, 2023, was HKD 3,123,900,000, down from HKD 3,404,500,000 in the previous fiscal year[1] - EMS department profit increased by 21.8% to HKD 191,400,000, compared to HKD 157,200,000 in the previous fiscal year, attributed to improved operational efficiency[1] - The property holding department generated revenue of HKD 61,800,000 for the year ended December 31, 2023, slightly down from HKD 62,200,000 in the previous fiscal year[24] - The property holding department reported a profit of HKD 79,900,000, recovering from a loss of HKD 88,100,000 in the previous fiscal year[24] - The company's revenue for the year ended December 31, 2023, was HKD 3,185,668,000, a decrease of approximately 8.1% compared to HKD 3,466,674,000 in 2022[33] - The operating profit for the year was HKD 215,094,000, down from HKD 241,231,000 in the previous year, reflecting a decline of about 10.8%[33] - The profit attributable to the company's owners was HKD 152,726,000, an increase of 35.8% from HKD 112,436,000 in 2022[33] - Total revenue for the year ended December 31, 2023, was HKD 3,185,668,000, down from HKD 3,466,674,000 in 2022, representing a decrease of approximately 8.1%[108] - The operating profit for 2023 was HKD 215,100,000, compared to HKD 241,200,000 in 2022, indicating a decline of about 10.8%[108] - The net profit attributable to the company's owners for 2023 was HKD 152,726,000, up from HKD 112,436,000 in 2022, reflecting an increase of approximately 35.8%[99] Financial Position - As of December 31, 2023, the group's net bank loans amounted to HKD 442,700,000, a decrease from HKD 806,000,000 as of December 31, 2022[3] - The net asset to liability ratio as of December 31, 2023, was 0.10, down from 0.19 in the previous year[3] - Total bank credit as of December 31, 2023, was HKD 3,071,300,000, down from HKD 3,408,200,000 in the previous year[25] - Cash and cash equivalents, short-term bank deposits, and restricted cash totaled HKD 1,348,000,000 as of December 31, 2023, compared to HKD 1,217,000,000 in the previous year[25] - Total assets decreased to HKD 7,310,256,000 from HKD 7,678,233,000, a reduction of approximately 4.8%[45] - The company's cash and cash equivalents increased to HKD 942,040,000 from HKD 544,537,000, representing a growth of 73.1%[45] - The total equity attributable to the company's owners rose to HKD 4,474,267,000 from HKD 4,413,093,000, an increase of 1.4%[45] - Total assets as of December 31, 2023, were HKD 7,310,256,000, a decrease from HKD 7,678,233,000 in 2022, reflecting a decline of approximately 4.8%[59] - The total reportable segment assets for 2023 were HKD 7,076,596,000, down from HKD 7,392,372,000 in 2022, showing a decrease of about 4.3%[59] - The company's total assets as of December 31, 2023, are HKD 4,464,082,000, a slight decrease from HKD 4,588,757,000 in the previous year[74] Capital Expenditures and Investments - Capital expenditures for the year amounted to HKD 92,756,000, compared to HKD 20,816,000 in the previous year, indicating a significant increase[56] - The EMS segment reported assets of HKD 2,837,849,000 as of December 31, 2023, down from HKD 3,147,298,000 in 2022, a decline of approximately 9.9%[57] - The property holding segment's assets were HKD 4,238,747,000 in 2023, compared to HKD 4,245,074,000 in 2022, a slight decrease of about 0.2%[57] - The company recognized rental income of HKD 62,192,000 in 2023, compared to HKD 61,769,000 in 2022, reflecting a modest increase[56] - The fair value changes of investment properties resulted in a loss of HKD 80,148,000 in 2023, compared to a loss of HKD 12,062,000 in 2022, indicating a significant decline in performance[56] - The company’s equity in joint ventures was HKD 2,071,517,000 as of December 31, 2023, compared to HKD 2,058,112,000 in 2022, showing a slight increase of about 0.6%[57] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 14,354,000, compared to HKD 9,570,000 in the previous year[81] - The company paid dividends of approximately HKD 35,887,000 in 2023, compared to HKD 21,533,000 in 2022, indicating an increase of about 66.7%[96] Employment and Compensation - The company employed 2,581 employees as of December 31, 2023, with regular reviews of compensation and benefits policies[28] Market and Operational Insights - The company is leveraging its factories in mainland China and Vietnam to expand its EMS business customer base[13] - The company anticipates a slight decline in EMS business revenue in the first half of 2024 due to excess inventory at some customers[29] - The company has taken measures to hedge against rising interest rate risks, with loan rates expected to remain high in the first half of 2024[13] Other Financial Metrics - Basic earnings per share for 2023 were HKD 0.32, compared to HKD 0.23 in 2022, marking an increase of about 39.1%[99] - Revenue from North America decreased to HKD 355,376,000 in 2023 from HKD 472,813,000 in 2022, a decline of approximately 24.8%[92] - Revenue from Asia (excluding Hong Kong) was HKD 1,831,943,000 in 2023, down from HKD 1,991,567,000 in 2022, representing a decrease of about 8.0%[92] - The company confirmed liabilities related to customer contracts amounting to HKD 131,574,000 for the EMS segment in 2023, slightly up from HKD 126,291,000 in 2022[94] - The company’s share of profits from joint ventures increased to HKD 49,462,000 from a loss of HKD 44,073,000 in the previous year, marking a significant turnaround[85] - Non-current assets in Asia (excluding Hong Kong) decreased to HKD 286,350,000 from HKD 352,033,000, a decline of about 18.7%[74] - Trade receivables decreased to HKD 808,589,000 from HKD 1,071,437,000, representing a reduction of approximately 24.5%[86] - Total loans as of 2023 amounted to HKD 1,790,678,000, a decrease from HKD 2,022,968,000 in 2022, reflecting a reduction of approximately 11.4%[112] Miscellaneous - The estimated tax rate for profits sourced from Hong Kong remains at 16.5%, consistent with the previous year[80] - Gain from the sale of an associate company recognized in 2022 amounted to HKD 117,100,000[114] - Net financing costs increased by HKD 26,100,000[114] - EMS department profit increased by HKD 34,200,000[114] - Property holding department profit increased by HKD 168,000,000[114]
王氏国际(00099) - 2023 - 年度业绩