Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 348,711,000, a decrease of 6.8% compared to HKD 374,049,000 in 2022[3]. - Gross profit for the year was HKD 102,204,000, down 11% from HKD 114,669,000 in the previous year[3]. - The net profit for the year was HKD 34,158,000, an increase of 24.5% from HKD 27,415,000 in 2022[4]. - Basic and diluted earnings per share for the year were both HKD 2.56, compared to HKD 2.18 in 2022, marking a 17.4% increase[4]. - The pre-tax profit for 2023 was HKD 34,364,000, an increase from HKD 29,400,000 in 2022[47]. - The net profit after tax for the year ended December 31, 2023, was approximately HKD 34,200,000, an increase of approximately HKD 6,800,000 or 24.8% compared to approximately HKD 27,400,000 for the year ended December 31, 2022[99]. Assets and Liabilities - Total assets increased to HKD 734,260,000 from HKD 487,972,000, representing a growth of 50.5%[6]. - The company reported a decrease in inventory to HKD 140,050,000 from HKD 152,061,000, reflecting a reduction of 7.9%[6]. - The company’s total liabilities increased to HKD 171,596,000 after the merger accounting adjustments[24]. - The company’s equity attributable to owners decreased to HKD 642,705,000 after the merger adjustments[24]. - As of December 31, 2023, the total assets of the group amounted to HKD 837,525,000[36]. - The total liabilities of the group as of December 31, 2023, were HKD 187,821,000[36]. Cash Flow and Expenses - Operating cash flow before changes in working capital was HKD 60,993,000, with a net cash from operating activities of HKD 59,516,000 after tax payments[28]. - The company reported a decrease in cash and cash equivalents of HKD 29,931,000, with a year-end cash balance of HKD 48,481,000[30]. - The financing activities resulted in a net cash outflow of HKD 30,877,000, primarily due to dividend payments and loan repayments[30]. - The financial expenses for the year were HKD 1,061,000, a slight increase from HKD 1,003,000 in the previous year[3]. - General and administrative expenses decreased from approximately HKD 49,300,000 for the year ended December 31, 2022, to approximately HKD 45,600,000 for the year ended December 31, 2023, a decrease of approximately HKD 3,700,000 or 7.5%[97]. Segment Performance - The jewelry business generated segment revenue of HKD 326,575,000, while the property business contributed HKD 47,474,000, leading to a combined segment profit of HKD 63,690,000[34]. - Jewelry business revenue was HKD 286.4 million, accounting for 82.1% of total revenue, down from HKD 326.6 million or 87.3% in the previous year, representing a decrease of HKD 40.1 million or 12.3%[75][77]. - Property business revenue increased to HKD 59.2 million, contributing 17.0% to total revenue, up from HKD 47.5 million or 12.7% in 2022, marking an increase of HKD 11.8 million or 24.8%[75][77]. - The photovoltaic power generation business generated revenue of HKD 3.0 million, representing 0.9% of total revenue, a new addition as it was not present in the previous year[75][77]. Acquisitions and Investments - The company completed the acquisition of 55% equity in Guangdong Kaisi New Energy Co., Ltd. for approximately RMB 7,150,000 on August 3, 2023, making it an indirect non-wholly owned subsidiary[18]. - The consolidated financial statements have been prepared using the merger accounting method, reflecting the acquisition as if it occurred on the date control was obtained[18]. Tax and Employee Costs - The group reported a tax expense of HKD 16,116,000 for 2023, up from HKD 10,268,000 in 2022, primarily due to increased corporate income tax in China[42]. - The total employee costs for 2023 were HKD 30,696,000, compared to HKD 29,670,000 in 2022, reflecting a rise in employee expenses[42]. - The number of employees increased from 150 as of December 31, 2022, to 159 as of December 31, 2023[113]. Dividends and Shareholder Information - The proposed final dividend for the year ending December 31, 2023, is HKD 0.02 per share, totaling approximately HKD 26,820,180[46]. - The company proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2023, consistent with the previous year[115]. Compliance and Reporting - The audit committee has reviewed and confirmed the accounting standards and practices adopted by the group for the year ending December 31, 2023[125]. - The financial figures for the year ending December 31, 2023, have been agreed upon by the company's auditor, confirming consistency with the consolidated financial statements[126]. - The annual report containing all information required by the listing rules will be published on the company's website and the stock exchange website at an appropriate time[129].
保发集团(03326) - 2023 - 年度业绩