Financial Performance - Revenue for the year ended December 31, 2023, was HKD 24,199,894 thousand, representing a 4.3% increase from HKD 23,196,238 thousand in 2022[3] - Pre-tax profit decreased by 36.4% to HKD 4,604,055 thousand compared to HKD 7,243,538 thousand in the previous year[4] - Net profit attributable to owners of the company was HKD 3,122,069 thousand, down 34.5% from HKD 4,763,503 thousand in 2022[4] - Basic earnings per share decreased to HKD 0.4775 from HKD 0.7286, a decline of 34.5%[4] - Total comprehensive income for the year was HKD 2,041,687 thousand, compared to HKD 469,732 thousand in 2022[6] - The company's consolidated profit attributable to owners for 2023 was HKD 3.122 billion, a decrease of 34.5% compared to HKD 4.764 billion in 2022[59] - The net profit from the fair value adjustment of investment properties was HKD 230,115,000, down from HKD 762,820,000 in 2022[92] Dividends - Proposed final dividend per share is HKD 0.1233, down 71.2% from HKD 0.4262 in the previous year, resulting in a total dividend of HKD 0.3104, a 49.4% decrease[3] - The proposed final dividend for 2023 is HKD 0.1233 per share, compared to HKD 0.4262 per share in 2022, resulting in a total annual dividend of HKD 0.3104 per share, down from HKD 0.6133 per share in 2022[60] Assets and Liabilities - Non-current assets increased to HKD 84,688,161 thousand from HKD 81,293,868 thousand in the previous year[8] - Total current assets increased to HKD 55,277,811 thousand in 2023 from HKD 52,220,752 thousand in 2022, representing a growth of approximately 5.0%[10] - Total current liabilities rose to HKD 45,666,192 thousand in 2023, up from HKD 35,668,282 thousand in 2022, indicating an increase of about 28.5%[10] - Net current assets decreased to HKD 9,611,619 thousand in 2023 from HKD 16,552,470 thousand in 2022, a decline of approximately 41.5%[10] - Total non-current liabilities decreased to HKD 36,270,155 thousand in 2023 from HKD 39,337,021 thousand in 2022, reflecting a reduction of about 7.9%[10] - Total equity decreased slightly to HKD 58,029,625 thousand in 2023 from HKD 58,509,317 thousand in 2022, a decrease of approximately 0.8%[10] - The company's reserves decreased to HKD 32,836,033 thousand in 2023 from HKD 34,362,465 thousand in 2022, a decline of about 4.5%[10] - The total assets of the company reached HKD 139,965,972 thousand in 2023, compared to HKD 133,514,620 thousand in 2022, reflecting an increase of approximately 4.1%[31] - The total liabilities rose to HKD 81,936,347 thousand in 2023, up from HKD 75,005,303 thousand in 2022, indicating an increase of around 9.6%[31] Segment Performance - The water resources segment generated revenue of HKD 15,329,381, a decrease of 9.6% from HKD 16,949,113 in 2022[21] - The property investment and development segment reported revenue of HKD 5,304,259, an increase of 84.5% from HKD 2,870,880 in 2022[21] - The department store operations segment's revenue decreased slightly to HKD 758,786 from HKD 798,860, a decline of 5%[21] - The power generation segment's revenue was HKD 1,475,698, down 3.5% from HKD 1,529,210 in 2022[23] - The hotel operations and management segment saw revenue increase to HKD 648,780, up 77.8% from HKD 386,660 in 2022[23] - The road and bridge segment reported revenue of HKD 682,990, an increase of 3.9% from HKD 661,515 in 2022[23] Cash Flow and Financing - Cash and bank balances rose to HKD 12,593,616 thousand from HKD 8,938,120 thousand, indicating improved liquidity[8] - Bank and other borrowings decreased to HKD 27,175,184 thousand in 2023 from HKD 30,690,800 thousand in 2022, a decrease of about 11.0%[10] - The group’s bank and other borrowings included loans from subsidiaries totaling HKD 6.5513 billion in 2023, down from HKD 8.7651 billion in 2022[56] - The company experienced a significant increase in bank interest income, which rose to HKD 226,050 thousand in 2023 from HKD 144,027 thousand in 2022, an increase of about 57.1%[25] Operational Highlights - The company plans to continue expanding its market presence in mainland China and Hong Kong, focusing on infrastructure and property development[20] - The company is exploring new technologies in water treatment and energy efficiency to enhance operational performance[20] - The company aims to provide stable and sustainable returns to shareholders while retaining sufficient funds for business expansion and operations[60] - The company plans to extend its water business into high value-added services and continue to develop property investment and development business steadily[64] - The company is actively monitoring macroeconomic conditions, including global inflation and geopolitical tensions, which may impact future financial performance[112] Employee and Governance - The company reported a total employee count of 11,495 as of December 31, 2023, with a total salary expenditure of approximately HKD 2,502,471,000, slightly down from HKD 2,513,717,000 in 2022[117] - The company is focused on employee development through targeted professional training to enhance overall employee quality[118] - The company is committed to high standards of corporate governance and compliance with the Hong Kong Stock Exchange's corporate governance code[120] Future Outlook - The company will focus on leveraging opportunities from the "Guangdong-Hong Kong-Macao Greater Bay Area Development Plan" to enhance long-term value creation[64] - The company plans to continue expanding its property portfolio with new developments and sales strategies in the coming years[88]
粤海投资(00270) - 2023 - 年度业绩