Financial Performance - The company's profit before tax for 2022 was HKD 70,497,000, a decrease of 60.5% from HKD 178,451,000 in 2021[1] - The total comprehensive income for the year was a loss of HKD 196,025,000 in 2022, compared to a gain of HKD 67,937,000 in 2021[23] - The net profit for the year was HKD 57,006,000, a decrease of 63.3% from HKD 155,300,000 in 2021[44] - The group's profit attributable to equity holders for the year was approximately HKD 50,340,000, a decrease of about 64% from approximately HKD 138,677,000 in the corresponding period of 2021[139] - Basic and diluted earnings per share were HKD 0.0148, down from HKD 0.0409 in the previous year[48] Revenue and Sales - The company's revenue from customer contracts in 2022 was HKD 1,244,864,000, significantly up from HKD 681,721,000 in 2021, representing an increase of 82.6%[15] - The total revenue for the year ended December 31, 2022, was HKD 1,244,864,000, a significant increase from HKD 681,721,000 in 2021, representing an increase of approximately 82.5%[44] - The total sales of goods for the year amounted to HKD 934,709,000, a decrease from HKD 1,001,936,000 in 2021, indicating a decline in sales performance[76] - The company's revenue from gold mining operations was approximately HKD 406,442,000, a decrease of about 40% from HKD 681,721,000 in the previous year, primarily due to strict COVID-19 control measures in China[115] - The gold recovery business generated revenue of approximately HKD 838,422,000 with a sales cost of about HKD 837,312,000, resulting in a gross profit of approximately HKD 1,110,000[116] Expenses and Costs - The cost of sales for the year was HKD 1,105,369,000, compared to HKD 444,857,000 in the previous year, resulting in a gross profit of HKD 139,495,000, down from HKD 236,864,000, indicating a decrease of about 41%[44] - The group's sales cost was approximately HKD 1,105,369,000, an increase of about 148% compared to HKD 444,857,000 in the corresponding period of 2021, primarily due to the new gold recovery business[133] - The company's administrative and other expenses increased by approximately HKD 1,567,000 to about HKD 60,032,000, mainly due to one-time expenses such as ineffective exploration costs[111] - The total employee costs decreased slightly to HKD 23,873,000 in 2022 from HKD 24,351,000 in 2021, showing cost management efforts[68] Assets and Liabilities - The total assets minus current liabilities decreased to HKD 2,907,784,000 in 2022 from HKD 3,234,701,000 in 2021, a decline of 10.1%[5] - The total liabilities decreased to HKD 874,428,000 in 2022 from HKD 1,062,326,000 in 2021, a decline of 17.7%[30] - The company's equity attributable to owners decreased to HKD 1,894,437,000 in 2022 from HKD 2,015,405,000 in 2021, a decrease of 6.0%[30] - The company's total assets and net assets as of December 31, 2022, were approximately HKD 3,650,157,000 and HKD 2,033,356,000, respectively, compared to HKD 3,897,027,000 and HKD 2,172,375,000 in the previous year[117] Taxation - The income tax expense for 2022 was HKD 13,491,000, down from HKD 23,151,000 in 2021, reflecting a reduction of 41.5%[1] - The income tax expense for the year was HKD 13,491,000, down from HKD 23,151,000 in 2021, reflecting a lower taxable income[71] Business Operations - The company began gold recycling operations in China in the second half of the year, which is considered a new reportable segment[14] - The group plans to gradually restore normal production and expand exploration and mining activities in 2023 as COVID-19 restrictions ease[150] - The group has successfully expanded its gold-related business in mainland China by purchasing old gold from other supply chain companies and refining it[151] Market Conditions - The group's profitability is highly dependent on local and international gold prices, which are influenced by the global economic environment and stability[176] - Despite challenges in 2022 due to rising interest rates and a strong US dollar, gold prices remained stable, with 2022 being the strongest year for gold demand in a decade according to the World Gold Council[176] - The company anticipates that inflation easing and a weakening dollar, along with increased recession and geopolitical risks, will support gold prices in 2023[176] Corporate Governance - The company has not declared or proposed any dividends for the year ended December 31, 2022, consistent with the previous year[72] - The group has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[120] - No repurchase of listed securities occurred during the year, and no purchases or sales of the company's listed securities were made by the company or its subsidiaries[178]
潼关黄金(00340) - 2022 - 年度业绩