Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 53,730,000, a decrease of 9.7% from HKD 59,646,000 in 2022[5] - The net loss for the year was HKD 6,079,000, compared to a net loss of HKD 2,939,000 in the previous year, representing an increase in loss of 106.5%[6] - Basic and diluted loss per share was HKD 1.79, up from HKD 0.93 in 2022, indicating a significant increase in per-share losses[6] - Total comprehensive loss for the year amounted to HKD 6,216,000, compared to HKD 3,418,000 in 2022, reflecting a 81.8% increase in comprehensive losses[6] - The company reported a comprehensive loss of HKD 8,738,000 for the year, which includes a loss of HKD 8,601,000 from operations[11] - The group reported a net loss before tax of HKD 16,154,000 in 2023, slightly down from HKD 16,165,000 in 2022[30] - The group recorded a loss of approximately HKD 6.1 million (2022: HKD 2.9 million) primarily due to costs associated with the expansion of the content media business[74] Assets and Liabilities - Non-current assets decreased to HKD 37,567,000 from HKD 41,471,000, a decline of 9.4%[8] - Current assets increased to HKD 43,177,000 from HKD 35,242,000, representing a growth of 22.6%[8] - The company's total equity decreased to HKD 53,444,000 from HKD 59,660,000, a reduction of 10.4%[9] - The total equity as of December 31, 2023, is HKD 59,660,000, a decrease from HKD 63,078,000 in the previous year, reflecting a loss of HKD 4,445,000 for the year[11] - The retained earnings decreased to HKD (12,832,000) as of December 31, 2023, compared to HKD (4,231,000) in the previous year[11] - The company’s total liabilities increased to HKD 18,364,000 in 2023 from HKD 12,864,000 in 2022, an increase of approximately 42.5%[43] Revenue Breakdown - Marketing production revenue increased to HKD 38,056,000 in 2023 from HKD 37,494,000 in 2022, representing a growth of 1.5%[23] - Content media business revenue decreased to HKD 15,674,000 in 2023 from HKD 22,143,000 in 2022, a decline of 29.2%[23] - Revenue from Hong Kong customers increased significantly to HKD 48,239,000 in 2023 from HKD 36,365,000 in 2022, a growth of 32.6%[27] - Revenue from Chinese customers decreased to HKD 5,326,000 in 2023 from HKD 22,505,000 in 2022, a decline of 76.3%[27] Expenses and Costs - Employee benefits expenses remained stable at HKD 16,154,000 compared to HKD 16,165,000 in the previous year, showing a slight decrease of 0.1%[5] - The cost of materials and supplies decreased by approximately 20.4% to about HKD 3.2 million (2022: HKD 4.0 million) despite an increase in marketing production services[62] - Depreciation and amortization expenses increased by approximately 14.0% to about HKD 4.8 million (2022: HKD 4.2 million) due to the full-year depreciation of several properties, plants, and equipment[65] - Transportation costs decreased by approximately 30.1% to about HKD 4.3 million (2022: HKD 6.2 million) despite an increase in marketing production services[70] - Other operating expenses decreased by approximately 16.2% to about HKD 8.7 million (2022: HKD 10.4 million) mainly due to reduced consulting and legal expenses[71] Cash Flow and Management - Cash and bank balances improved to HKD 20,514,000 from HKD 16,988,000, an increase of 20.0%[8] - The company’s cash flow management strategy appears to be focused on maintaining liquidity amid fluctuating receivables and payables[41] Corporate Governance and Future Plans - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2023, ensuring compliance with applicable accounting policies and regulations[95] - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance by all directors for the year ending December 31, 2023[92] - The group anticipates maintaining the current recovery trajectory in economic growth in Hong Kong and China, with a focus on enriching experiential services and exploring emerging markets in the Asia-Pacific region[53] - The group is set to host the first Asian edition of ComplexCon in the first quarter of 2024, expected to attract over 30,000 guests from Asia and beyond[52] Employee and Management Information - The group employed a total of 38 full-time employees, a decrease from 42 in 2022[84] - The compensation for key management personnel totaled HKD 5.879 million in 2023, down from HKD 7.462 million in 2022[49] - The board believes that the dual role of the chairperson and CEO held by Ms. Hu Chen is beneficial for the group's business operations and management[91]
华美乐乐(08429) - 2023 - 年度业绩