Financial Performance - The company's net profit attributable to equity shareholders for the year ended December 31, 2023, was HKD 219,656,000, representing an increase of 187% from HKD 76,302,000 in 2022[1]. - Basic earnings per share for 2023 were HKD 0.646, compared to HKD 0.224 in 2022, reflecting a growth of 189%[1]. - Total revenue for the year was HKD 1,738,354,000, up from HKD 1,429,488,000 in 2022, indicating a year-on-year increase of 21.6%[8]. - Operating profit for the year was HKD 362,570,000, significantly higher than HKD 162,126,000 in the previous year, marking a growth of 123%[8]. - The total comprehensive income for the year was HKD 300,158,000, compared to HKD 86,663,000 in 2022, representing an increase of 246%[12]. - The company's profit before tax for 2023 was HKD 219,656,000, compared to HKD 76,302,000 in 2022, representing a significant increase[75]. - The group's revenue for 2023 was HKD 1,738,400,000, an increase of 21.6% compared to HKD 1,429,500,000 in 2022[112]. - The group's profit attributable to equity shareholders for 2023 was HKD 219.7 million, significantly up from HKD 76.3 million in 2022, mainly due to the recovery of the hotel business[134]. Revenue Breakdown - Total revenue for the hotel and club business reached HKD 1,645,163, a 23% increase from HKD 1,337,997 in 2022[41]. - Revenue from hotel operations for 2023 was HKD 1,639,040,000, with a profit contribution of HKD 239,851,000[68]. - Hotel business total revenue rose to HKD 1,639,000,000 in 2023, up 23.1% from HKD 1,331,000,000 in 2022[93]. - The total revenue from investment properties after direct expenses was HKD 1,030,000,000 in 2023, up from HKD 844,000,000 in 2022[74]. - Revenue from Vietnam increased by 23.4% to HKD 716.1 million in 2023 from HKD 593.5 million in 2022[124]. Asset and Liability Management - The company's total assets decreased to HKD 4,997,402,000 from HKD 3,796,696,000, a decline of 5.5%[14]. - The company's total equity attributable to shareholders increased to HKD 3,118,380 from HKD 2,936,799, reflecting a growth of approximately 6.2%[36]. - Total liabilities amounted to HKD 2,056,339, with bank loans constituting HKD 1,375,474[46]. - The company's total bank loan was HKD 1,375,474,000 in 2023, slightly down from HKD 1,435,804,000 in 2022[79]. - The group's asset-liability ratio was 23.7% as of December 31, 2023, compared to 22.5% in 2022, while total liabilities as a percentage of total assets decreased to 35.5% from 37.0%[135]. Operational Costs and Expenses - The company reported a significant increase in financing costs, which rose to HKD 408,367,000 from HKD 166,026,000, an increase of 145%[8]. - Employee costs for the year amounted to HKD 193,692,000, an increase from HKD 178,587,000 in 2022, reflecting a rise of approximately 8.5%[48]. - Employee costs rose to HKD 612,909,000 in 2023 from HKD 525,791,000 in 2022, reflecting an increase of approximately 16.6%[74]. - The cost of inventory increased to HKD 143,465,000 in 2023 from HKD 132,740,000 in 2022, marking an increase of about 8.0%[74]. Dividends - The company proposed a final dividend of HKD 0.08 per share for the year, an increase from HKD 0.05 in 2022[29]. - The company declared an interim dividend of HKD 0.03 per share for 2023, compared to no interim dividend in 2022[83]. - The company plans to issue a final dividend, which has not been recognized as a liability as of the reporting date[61]. Market and Economic Conditions - The company faced challenges due to high operational costs and geopolitical instability affecting global supply chains[64]. - Macau's visitor arrivals increased by 395% year-on-year in 2023, recovering to 72% of pre-pandemic levels[113]. - The overall unemployment rate in Macau decreased from 3.5% in Q4 2022 to 2.3% in Q4 2023[113]. - The unemployment rate in the U.S. remained low at 3.6% throughout 2023, contributing to strong economic growth of 2.5%[149]. - The outlook for the Macau property market is optimistic, supported by economic stability, tourism growth, and infrastructure improvements, despite potential impacts from inflation and interest rates[139]. Hotel Performance Metrics - The occupancy rate for the Saigon Sheraton Hotel increased to 76.3% in 2023 from 55.4% in 2022, with average room rates rising to USD 172 from USD 148[100]. - The occupancy rate for the Sail Hotel improved to 71.8% in 2023, up from 51.5% in 2022, with average room rates increasing to USD 150 from USD 122[101]. - The occupancy rate for the Ottawa Sheraton Hotel increased to 68.7% in 2023, compared to 57.0% in 2022, with average room rates rising to CAD 216 from CAD 199[106]. - The occupancy rate for the Toronto Airport Marriott Hotel increased to 69.7% in 2023, up from 61.6% in 2022, with average room rates increasing to CAD 177 from CAD 158[107]. - The occupancy rate for hotels improved to 75.3% in 2023 from 40.9% in 2022, with the average room rate increasing to JPY 9,444 per night from JPY 6,326 per night[126]. Other Financial Metrics - The company recognized a hotel property impairment reversal of HKD 58,297,000 during the year, compared to no such reversal in 2022[8]. - The company recorded a net other income of HKD 141,436, compared to HKD 41,331 in the previous year, indicating a substantial increase[47]. - The company recorded a tax loss for the year ended December 31, 2023, and therefore did not make any provisions for Hong Kong profits tax[51]. - The company's tax provision for the year was HKD 61,433,000, compared to HKD 51,533,000 in 2022, indicating an increase of approximately 19.1%[74]. - The net foreign exchange gain for 2023 was HKD 5.6 million, compared to a net loss of HKD 7.5 million in 2022[156]. - The unrealized loss on trading securities for 2023 was HKD 1.6 million, while there was a gain of HKD 0.2 million in 2022[157]. Corporate Governance - The board of directors includes executive directors He Jianyuan, He Jianfu, Xie Sixun, Chen Leiming, and He Chonghui, along with non-executive and independent non-executive directors[170]. - The record date for attending the 2024 Annual General Meeting is June 3, 2024[173]. - The ex-dividend date is set for June 6, 2024, at 4:30 PM Hong Kong time[173]. - The deadline for submitting share transfer documents for registration is June 7, 2024[173]. - The suspension of share transfer registration will occur from June 11, 2024, to June 14, 2024[173].
激成投资(00184) - 2023 - 年度业绩