Financial Performance - For the year ending December 31, 2023, the company reported a net loss of HKD 217,901,093, a decrease of 53.8% compared to a net loss of HKD 471,601,520 in 2022[4] - The company recorded a fair value loss of HKD 287,699,838 for financial assets, which is a significant improvement from the previous year's loss of HKD 622,636,931[2] - The company reported a loss attributable to shareholders of approximately HKD 217.9 million for the year, compared to a loss of HKD 471.6 million in the previous year, representing a 53.8% improvement[29] - The fair value loss on financial assets measured at fair value through profit or loss was approximately HKD 287.7 million, down from HKD 622.6 million in the previous year, indicating a 53.8% reduction in losses[29] - The company reported a decrease in dividend income from HKD 161,282,534 in 2022 to HKD 64,631,720 in 2023, representing a decline of 60%[2] - The company did not declare or propose any dividends for the year, consistent with the previous year[22] - The total income tax expense for the year was nil, as the company did not generate any taxable profits in Hong Kong[21] Assets and Equity - Total assets decreased to HKD 1,147,126,882 in 2023 from HKD 1,365,558,879 in 2022, reflecting a decline of approximately 16%[6] - The company’s total equity decreased to HKD 1,142,334,121 in 2023 from HKD 1,360,235,214 in 2022, a decline of approximately 16%[6] - The company's net asset value decreased to approximately HKD 1.142 billion from HKD 1.360 billion in the previous year, a decline of 16.0%[29] Income and Expenses - The financing income increased to HKD 1,059,853 in 2023 from HKD 156,582 in 2022, marking a substantial increase of 576%[2] - General and administrative expenses decreased to HKD 12,680,283 in 2023 from HKD 16,950,929 in 2022, a reduction of 25.5%[2] - General and administrative expenses for the year were approximately HKD 12.68 million, a decrease from HKD 16.95 million in the previous year, reflecting a 25.5% reduction[20] - Baishi Group's total employee cost for the year was approximately HKD 7.65 million, down from HKD 9.99 million in 2022[65] Cash and Cash Equivalents - The company's cash and cash equivalents rose to HKD 86,451,484 in 2023, compared to HKD 31,534,999 in 2022, indicating an increase of 174%[6] - The group's cash and cash equivalents amounted to approximately HKD 86.45 million as of December 31, 2023, an increase from approximately HKD 31.53 million as of December 31, 2022[33] - The company has no bank borrowings as of December 31, 2023, maintaining a total debt to total assets ratio of approximately 0%[67] Investments - The investment portfolio as of December 31, 2023, includes significant holdings such as Meicai with a market value of HKD 410.4 million, representing 29.3% of the total assets[40] - The group reported a cumulative unrealized loss of HKD 137.54 million from its investment in Bihua Venture Limited, which constitutes 11.6% of the total assets[40] - The company has a 23.81% stake in Bihua as of December 31, 2023[42] - The company holds approximately 11.74% of Yimeter's issued share capital as of December 31, 2023[44] - The company has a 2.92% stake in G7 as of December 31, 2023[42] - The company invested USD 25.7 million in Meicai, which focuses on providing a one-stop procurement service for restaurants and grocery stores[49] - The company invested USD 25 million in G7, a leading IoT technology company in China, which provides integrated logistics services[51] - The company invested RMB 130 million in Yimeter (Jitu Express), which focuses on the less-than-truckload logistics network[54] - The company has indirect holdings of 13,319,355 Class B shares in Jitu Express as of December 31, 2023[56] Corporate Governance - The company has adhered to all principles and rules of the Corporate Governance Code for the entire year, except for the absence of an executive director since June 30, 2022, which deviates from the requirement for a balanced board composition[77] - The Audit Committee, composed entirely of non-executive directors, has reviewed the group's annual performance for 2023 and recommended approval to the board[82] - The company is actively seeking suitable candidates to fill the vacancy of the executive director and will announce further updates when appropriate[77] - The company will continue to maintain its existing investment policies and strategies until a new executive director is appointed[77] - The board will continuously review and improve the company's corporate governance practices to ensure proper oversight of business activities and decision-making processes[78] Strategic Focus - The company aims to leverage resources from national development banks to enhance efficiency and expand business opportunities in logistics and advanced manufacturing sectors[43] - The company is focused on creating investment returns for shareholders through its investments in logistics, information technology, and new energy sectors[43] - Baishi Group aims to leverage its logistics network and industry knowledge to enhance efficiency and expand business opportunities in logistics and supply chain services[69] - The company plans to diversify investments across various sectors, including logistics, information technology, advanced manufacturing, healthcare, new energy, and energy conservation[71] - The management acknowledges the complex and challenging business environment and is focused on improving performance and shareholder returns through effective communication and monitoring of market conditions[71] Other Information - The company has adopted new accounting standards effective from January 1, 2023, which did not have a significant impact on its financial statements[14] - The company has begun assessing the impact of new accounting standards, which are not expected to have a significant effect on its accounting policies[19] - The company operates primarily in Hong Kong, with all revenue derived from its operations in this region[19] - The company will disclose its annual report containing all required information on the Stock Exchange and its website at an appropriate time[85] - The company’s financial statements for the year have been prepared with the agreement of its auditor, Hong Kong Shinewing, although no assurance has been provided on the preliminary announcement[83]
国开国际投资(01062) - 2023 - 年度业绩