Financial Performance - Revenue for the 2023 Financial Year was approximately RMB 1,498,000, representing a decrease of 94.91% compared to RMB 29,427,000 for the 2022 Corresponding Period[3]. - Loss after tax for the 2023 Financial Year was approximately RMB 146,630,000, while the loss after tax for the 2022 Corresponding Period was approximately RMB 75,824,000[3]. - Basic loss per share for the 2023 Financial Year was approximately RMB 9.33 cents, compared to a loss per share of RMB 5.00 cents for the 2022 Corresponding Period[3]. - Total comprehensive expense for the year was RMB 150,502,000, compared to RMB 79,518,000 for the previous year[9]. - Loss before tax increased to RMB 146,593,000 in 2023 compared to RMB 75,824,000 in 2022, indicating a rise of 93%[72]. - The company reported a loss for the year attributable to owners of RMB 137,159,000 in 2023, compared to RMB 73,521,000 in 2022, which is an increase of 86%[83]. - Other income for the 2023 Financial Year was RMB 2,175,000, compared to RMB 1,920,000 for the previous year[6]. - Finance costs surged to RMB 1,824,000 in 2023, up from RMB 478,000 in 2022, marking an increase of 282%[77]. - Total staff costs recognized as an expense decreased to RMB 6,167,000 in 2023 from RMB 6,845,000 in 2022, a reduction of 10%[82]. - Impairment loss recognized in respect of contract costs was RMB 68,814,000 in 2023, with no such loss reported in 2022[82]. Assets and Liabilities - The Group's non-current assets decreased from RMB 395,292,000 in 2022 to RMB 344,283,000 in 2023[12]. - The Group's cash and cash equivalents decreased from RMB 6,557,000 in 2022 to RMB 3,741,000 in 2023[12]. - In 2023, the net assets of the company decreased to RMB 422,849,000 from RMB 573,351,000 in 2022, representing a decline of approximately 26.3%[13]. - The total equity attributable to owners of the company fell to RMB 432,703,000 in 2023 from RMB 573,734,000 in 2022, a decrease of about 24.5%[13]. - The total liabilities of the company, including non-current liabilities, amounted to RMB 436,000 in 2023, up from RMB 285,000 in 2022, reflecting an increase of about 53.0%[13]. - Trade payables increased from RMB 116,144,000 in 2022 to RMB 149,825,000 in 2023[12]. - The Group's net current assets as of December 31, 2023, were approximately RMB 79,002,000, down from RMB 178,344,000 on December 31, 2022[131]. - The Group had no bank borrowings as of December 31, 2023, but had other borrowings of RMB 7,215,000, up from RMB 5,415,000 in the previous year[135]. - The current ratio decreased to 1.38 times as of December 31, 2023, compared to 2.02 times in the previous year[135]. - The gearing ratio increased to 0.33 times as of December 31, 2023, from 0.23 times on December 31, 2022[135]. Dividends and Shareholder Information - The Board does not recommend the payment of a final dividend for the 2023 Financial Year, consistent with the 2022 Corresponding Period[3]. - No dividends were paid or proposed for ordinary shareholders during 2023, consistent with 2022[83]. - The weighted average number of ordinary shares remained unchanged at 1,469,376,000 for both 2023 and 2022[83]. Accounting Policies and Financial Reporting - The company has adopted new amendments to HKFRSs for the first time in 2023, which had no material impact on its financial positions and performance[20]. - The Group has implemented amendments to HKAS 1 for the first time, changing "significant accounting policies" to "material accounting policy information" to enhance clarity in financial statements[39]. - The amendments clarify that accounting policy information may be material due to the nature of related transactions, even if the amounts are immaterial[42]. - The Group's financial positions and performance have not been materially impacted by the amendments, but disclosures regarding accounting policies have been affected[44]. - The Group recognized a cumulative catch-up adjustment in profit or loss for the year ended December 31, 2022, due to changes in accounting policy related to the abolition of the MPF offsetting mechanism[54]. - The amendments to HKFRSs did not have a material impact on the Group's profit or loss for the years ended December 31, 2023, and December 31, 2022[55]. Business Operations and Future Plans - The Group is actively developing its hotel business, with plans for tourism-related hotel and catering services in Dongchong, Shenzhen[129]. - The Group plans to launch an alcohol sales business in 2024, focusing on high-end white wine in the Shenzhen area[129]. - The Group won the bidding for a 3,000-square-meter vacant land in Shenzhen for an entertainment project, expected to begin operations in the second half of 2024[128]. - The Group's property investment business includes 125 offices in Beijing, 11 shop units and 60 parking spaces in Sanhe, and a commercial property in Shunyi, Beijing[115]. - The management is optimizing the project plan for the Shennongjia Hotel to expedite construction progress, which has been slightly delayed due to transportation restrictions[113]. - The Group is exploring various investment opportunities to enhance market competitiveness, particularly in property renovation and rural area development[127]. - The Group aims to integrate resources to promote the construction and operation of property projects for quicker profitability[123]. - The overall construction settlement of the Zhongfang Chaozhou Jing Nan Industrial Park Project remains incomplete, affecting revenue recognition[102]. - As of December 31, 2023, the Group's properties are under construction, with completion and renovation expected in 2024[114]. Employment and Staff Costs - The Group employed a total of 48 employees as of December 31, 2023, a decrease from 49 employees in the previous year[157]. - Total salaries and emoluments for the 2023 Financial Year amounted to RMB 6,167,000, down from RMB 6,845,000 in the 2022 Corresponding Period[157]. Investments and Capital Commitments - The Group's total capital commitments as of December 31, 2023, were RMB 62,163,000, an increase from RMB 45,522,000 in the previous year[167]. - The Group disposed of 5,000,000 shares of Chaozhou Rural Commercial Bank for RMB 12,000,000, representing approximately 0.19% of the total issued share capital[145]. - The share disposal is seen as an opportunity to strengthen the Group's cash position for general working capital during the economic recovery[146]. - The Group did not have any significant investments during the 2023 Financial Year[153]. Miscellaneous - The company’s H-shares have been listed on The Stock Exchange of Hong Kong since December 16, 1999, indicating a long-standing presence in the market[17]. - The Group's subsidiary in Hong Kong is required to pay Long Service Payments (LSP) under certain circumstances, with changes to the offsetting mechanism taking effect on May 1, 2025[47]. - The Group currently does not have a hedging policy against foreign exchange risk but may consider it in the future[159]. - The Group had no significant contingent liabilities as of December 31, 2023, consistent with the previous year[160].
沈阳公用发展股份(00747) - 2023 - 年度业绩