Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 392.22 million, a decrease of 40.2% compared to HKD 655.52 million in 2022[3] - Gross profit for the same period was HKD 68.36 million, down 34.2% from HKD 103.81 million in 2022[3] - The net profit for the year was HKD 0.51 million, a significant decline from HKD 27.64 million in the previous year, representing a decrease of 98.2%[4] - Basic and diluted earnings per share were both HKD 0.03, compared to HKD 1.78 in 2022, reflecting a decrease of 98.3%[3] - Revenue from external customers for the year ended December 31, 2023, was HKD 392,220,000, a decrease from HKD 655,518,000 in 2022, representing a decline of approximately 40.2%[18] - The company reported a pre-tax profit of HKD 685,000 for the year ended December 31, 2023, down from HKD 32,896,000 in 2022, reflecting a significant decrease of approximately 98%[20] - The annual profit for the year ended December 31, 2023, was HKD 513,000, compared to HKD 27,642,000 in 2022, marking a decline of about 98.1%[20] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 215.39 million, a slight decrease from HKD 221.44 million in 2022[6] - Current liabilities decreased to HKD 138.65 million from HKD 191.70 million in the previous year, indicating a reduction of 27.7%[6] - The company reported a net cash position of HKD 106.51 million, down from HKD 147.99 million in 2022, a decrease of 28.0%[6] - The company's net asset value for investment properties decreased to approximately HKD 56,799,000 in 2023 from HKD 61,356,000 in 2022, reflecting a decline of about 7.5%[36] - Trade receivables from third parties amounted to HKD 69,106,000 in 2023, down from HKD 75,539,000 in 2022, representing a decrease of approximately 8.5%[37] - Trade payables to third parties decreased to HKD 55,717,000 in 2023 from HKD 85,541,000 in 2022, reflecting a significant decline of approximately 34.9%[40] - The company’s total liabilities related to trade and other payables were approximately HKD 88,603,000 in 2023, compared to HKD 120,530,000 in 2022, indicating a decrease of about 26.5%[40] Income and Expenses - Other income increased to HKD 15.07 million from HKD 11.86 million, marking a growth of 26.5%[3] - Administrative and other operating expenses were HKD 78.24 million, slightly down from HKD 80.84 million in the previous year, a decrease of 3.2%[3] - Service costs for the year ended December 31, 2023, totaled HKD (323,856,000), compared to HKD (551,708,000) in 2022, indicating a reduction of about 41.2%[18] - The company recorded a significant impairment loss of HKD 1,967,000 in 2023, which was not present in the previous year[24] - The company’s financing costs for the year ended December 31, 2023, were HKD (2,873,000), compared to HKD (1,938,000) in 2022, indicating an increase of approximately 48.4%[20] - The company's interest expenses for loans increased to HKD 2,779,000 in 2023 from HKD 1,840,000 in 2022, representing a growth of approximately 51.1%[24] - Employee costs decreased slightly to HKD 50,447,000 in 2023 from HKD 51,707,000 in 2022, a reduction of about 2.4%[24] Government Support and Subsidies - The company received government subsidies of HKD 11,416,000 in 2023, up from HKD 9,758,000 in 2022, reflecting an increase of about 16.9%[22] - The group’s other income was positively impacted by increased government support and interest income, reflecting a strategic focus on diversifying revenue streams[50] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with no significant impact from the adoption of new or revised standards this year[10][11] - The company is committed to maintaining compliance with the applicable disclosure requirements of the Stock Exchange[9] - The company has adhered to the corporate governance principles and standards as outlined in the listing rules up to the fiscal year ending December 31, 2023[75] Future Outlook and Strategy - The management expects that the adoption of new standards will not have a significant impact on the group's financial performance and position[14] - The group has identified several new clients to expand revenue sources despite challenging business conditions[52] - The group plans to continue managing costs and seeking new revenue sources to navigate industry challenges[52] Employment and Workforce - The group has a total of 182 employees as of December 31, 2023, down from 203 employees in 2022[67] Dividends and Securities - The company did not recommend any dividend payment for the year ending December 31, 2023, consistent with the previous year[29] - There were no purchases, sales, or redemptions of the company's listed securities during the fiscal year ending December 31, 2023[71]
永丰集团控股(01549) - 2023 - 年度业绩