Financial Performance - For the fiscal year ended December 31, 2023, the company's revenue was approximately HKD 79,105,000, an increase of 35.3% compared to approximately HKD 58,482,000 for the same period in 2022[5]. - The company recorded a profit attributable to owners of approximately HKD 4,336,000, compared to a loss of approximately HKD 7,735,000 in 2022[7]. - Gross profit for the same period was HKD 27,733,778, up 85.2% from HKD 14,971,773 in the previous year[19]. - The net profit for the year was HKD 4,334,422, a significant recovery from a loss of HKD 7,735,530 in 2022[19]. - The profit before tax for 2023 was HKD 4,329,715, compared to a loss of HKD 7,735,530 in 2022, indicating a significant turnaround[36][37]. - The company experienced a net profit of HKD 4,335,500 during the year, reversing a loss of HKD 7,735,405 from the previous year[25]. - The company reported a total of HKD 3,752,380 in total comprehensive income for the year, after accounting for other comprehensive losses[25]. Revenue Sources - The sales of smart cards generated HKD 79,098,836 in 2023, up from HKD 58,471,358 in 2022, reflecting a growth of 35.3%[41]. - Revenue from bank interest increased to HKD 7,355 in 2023 from HKD 5,062 in 2022, while government subsidies rose to HKD 639,080 from HKD 423,704[42]. - For the fiscal year ending December 31, 2023, the company reported revenue from smart card sales of approximately HKD 79,100,000, an increase of about HKD 20,630,000 or 35.3% compared to approximately HKD 58,470,000 in the same period of 2022[64]. Cost Management - The cost of inventory recognized as an expense increased to HKD 51,371,188 in 2023 from HKD 43,510,435 in 2022, marking a rise of 18.5%[43]. - The financial cost related to lease liabilities decreased to HKD 194,276 in 2023 from HKD 284,865 in 2022, a reduction of 31.8%[43]. - Sales and distribution costs for the reporting period were approximately HKD 2,700,000, an increase of about HKD 400,000 or 17.5% compared to approximately HKD 2,300,000 in the same period of 2022, primarily due to increased transportation costs, sales commissions, and overseas travel expenses[70]. - Administrative expenses slightly increased by approximately HKD 540,000 or 2.5% to about HKD 21,790,000 from approximately HKD 21,250,000 in the same period of 2022[71]. Investments and Future Plans - The company has invested approximately HKD 26,900,000 in the production of the television drama "Snow Leopard 2," with expected revenue generation by the end of 2025[13]. - The company plans to diversify its revenue base by offering higher value-added card services, such as M2M smart card-related businesses, in the coming year[12]. - The company plans to obtain SAS certification for its new Shenzhen factory, with the process expected to start in Q3 2024 and complete in Q4 2024[17]. - The investment in the television program is classified as a non-current asset, with an expected 30% share of net profits to be received within five years after obtaining the necessary broadcasting approvals from Chinese government departments[53]. Financial Position - Total assets minus current liabilities increased to HKD 44,362,935 in 2023 from HKD 38,927,253 in 2022[22]. - The company’s cash and cash equivalents rose to HKD 7,224,481 in 2023, compared to HKD 6,236,472 in 2022[22]. - The company’s total assets increased to HKD 69,061,929 in 2023 from HKD 66,318,015 in 2022[36][37]. - The total liabilities decreased slightly to HKD 28,622,109 in 2023 from HKD 29,629,497 in 2022[37]. - The company’s equity increased to HKD 40,439,820 in 2023 from HKD 36,688,518 in 2022[23]. - The company reported a total equity of HKD 40,210,303 as of December 31, 2023, compared to HKD 36,457,923 at the end of 2022, reflecting an increase of approximately 10.5%[25]. Shareholder Information - The company does not recommend the payment of a final dividend for the fiscal year ended December 31, 2023[8]. - The group did not recommend a final dividend for the year ended December 31, 2023, consistent with no dividends in 2022[84]. - The annual general meeting will be held on June 19, 2024, at 10:00 AM at the Hong Kong New Territories, with the notice to be published according to GEM listing rules[93]. - Share transfer registration will be suspended from June 14, 2024, to June 19, 2024, to determine the rights of shareholders attending the annual general meeting[94]. Compliance and Reporting - The company adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a significant impact on the financial position or performance for the year[29]. - The company's financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and comply with applicable disclosure requirements[26].
品创控股(08066) - 2023 - 年度业绩