Financial Performance - For the year ended December 31, 2023, the group reported a net loss of HKD 51,612,000, compared to a net loss of HKD 63,969,000 for the previous year[30]. - Total revenue for the year was HKD 146,147,000, slightly down from HKD 146,516,000 in the previous year, representing a decrease of approximately 0.25%[31]. - The group incurred a segment loss of HKD 44.580 million across its business segments for the year ended December 31, 2023[59]. - The group reported a pre-tax loss of HKD 50,477,000 for the year ended December 31, 2023, compared to a loss of HKD 60,756,000 in 2022[94]. - The net loss for the fiscal year 2023 was approximately HKD 51,600,000, a reduction of about HKD 12,400,000 or 19.3% from the fiscal year 2022[175]. - The company's equity holders' share of the loss was approximately HKD 50,500,000 for the fiscal year 2023, a decrease of about HKD 10,300,000 or 16.9% from the fiscal year 2022[180]. Assets and Liabilities - Non-current assets decreased from HKD 433,523,000 to HKD 419,213,000 year-on-year[12]. - Current assets decreased from HKD 249,171,000 to HKD 173,403,000 year-on-year[12]. - Total liabilities decreased from HKD 489,468,000 to HKD 253,134,000 year-on-year[12]. - The group’s net current liabilities as of December 31, 2023, were HKD 79,731,000, a significant improvement from HKD 240,297,000 in the previous year[34]. - The total assets of the group amounted to HKD 592.616 million as of December 31, 2023[59]. - The group reported a total liability of HKD 467.072 million as of December 31, 2023[59]. - The company's total cash and bank balances as of December 31, 2023, were approximately HKD 104,000,000, a decrease from HKD 182,500,000 as of December 31, 2022[184]. Cash Flow and Financing - The group has a loan financing agreement with a related company for up to HKD 260,000,000, with HKD 49,000,000 undrawn as of December 31, 2023[20]. - The group has unutilized trade financing bank facilities amounting to HKD 443,000[39]. - The company plans to utilize the anticipated payment of approximately HKD 260,443,000 from Win Dynamic for operational funding[163]. - The company reported a decrease in financial costs to approximately HKD 26,900,000 for the fiscal year 2023, down from HKD 27,800,000 in the fiscal year 2022[179]. Operational Strategies - The management is implementing strategies to improve profitability, including revising marketing strategies and controlling capital expenditures[19]. - Management is implementing measures to improve profitability, control operating costs, and reduce capital expenditures to enhance operational performance and mitigate liquidity risks[186]. - The company anticipates ongoing challenges in the retail sector due to the rising trend of online shopping among customers[182]. Accounting and Compliance - The new accounting standard HKFRS 17 for insurance contracts is expected to have no significant impact on the group’s financial statements[25]. - The adoption of new and revised Hong Kong Financial Reporting Standards has not significantly impacted the group's financial performance or position for the current and prior periods[42]. - The company has implemented a new accounting guideline regarding the accounting impact of the Mandatory Provident Fund and long service payment offset mechanism[50]. Employee and Operational Metrics - Employee benefits expenses, excluding directors and CEO remuneration, amounted to HKD 37,729,000 in 2023, a decrease from HKD 38,380,000 in 2022[89]. - The company employed 178 staff members as of December 31, 2023, an increase from 161 staff members in the previous year[188]. Legal and Regulatory Matters - The company is obligated to pay a judgment amount of HKD 12,064,272, along with interest and legal fees, following a court ruling in favor of Mr. Ma Jingxuan[146]. - The company is involved in legal proceedings that are expected to conclude with a judgment on February 1, 2024[146]. Dividends and Share Capital - The company did not recommend the payment of dividends for the fiscal years ended December 31, 2023, and 2022[110][116]. - The company had no changes in its share capital during the year[133].
先施(00244) - 2023 - 年度业绩