Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 905,730,000, a significant increase from HKD 280,639,000 in 2021, representing a growth of approximately 223%[11] - The gross profit for the same period was HKD 102,792,000, compared to HKD 20,610,000 in the previous year, indicating a substantial increase in profitability[11] - The net profit from continuing operations for the year was HKD 80,843,000, a dramatic rise from HKD 622,000 in 2021[11] - The company reported a total comprehensive income attributable to owners of the company of HKD 56,953,000, compared to HKD 25,588,000 in 2021[5] - The revenue from uranium trading of approximately HKD 891,506,000, equivalent to sales of about 2,530,000 pounds of uranium, marking a significant increase compared to the previous year's revenue of HKD 280,639,000[28] - The revenue and cost of sales from continuing operations in uranium trading were approximately HKD 905,730,000 and HKD 802,938,000 respectively, representing an increase of about 223% and 209% compared to the previous year[31] - The net income for the year was approximately HKD 80,843,000, compared to HKD 2,389,000 in the previous year, indicating a significant improvement in profitability[42] Assets and Liabilities - The total assets less current liabilities as of December 31, 2022, amounted to HKD 573,608,000, up from HKD 552,655,000 in 2021[3] - The company's cash and cash equivalents increased to HKD 130,732,000 from HKD 120,625,000 year-over-year[2] - The company's non-current liabilities decreased to HKD 182,000,000 from HKD 218,000,000, reflecting improved financial stability[3] - The group's net current assets were approximately HKD 134,991,000 as of December 31, 2022, compared to HKD 96,234,000 in 2021, while current liabilities rose to HKD 73,318,000 from HKD 40,016,000[46] - Total shareholder equity increased from approximately HKD 334,655,000 on December 31, 2021, to approximately HKD 391,608,000 on December 31, 2022, primarily due to total comprehensive income for the year[64] - The debt-to-asset ratio decreased to 0.40 as of December 31, 2022, down from 0.44 in the previous year[64] Operational Highlights - The company facilitated a transaction of 1,800,000 pounds of uranium for Rössing, generating commission income of approximately HKD 14,224,000[31] - The company suspended its supply chain business in 2021, with the last sale transaction completed at the end of 2020[108] - The company has entered into a framework agreement with China Uranium Industry Group to become its preferred supplier for short-term uranium product needs and exclusive regional distributor for long-term needs[143] - The framework agreement is expected to enhance the company's uranium trading business and expand its market coverage in China and globally[144] - The group aims to expand its business scale by actively participating in international market tenders and exploring various financing channels to support uranium trade expansion[147] - The group is exploring trade opportunities with new business partners to broaden its partnership base and strengthen its uranium trading business[147] Employee and Operational Costs - As of December 31, 2022, the group employed 23 full-time staff, an increase from 22 in 2021, with total employee costs amounting to HKD 18,691,000, up from HKD 16,260,000 in 2021[44] - The total employee costs for the year ended December 31, 2022, were HKD 18,691,000, up from HKD 16,260,000 in 2021, reflecting an increase in labor expenses[98] - Administrative expenses amounted to approximately HKD 31,190,000, a 19% increase from HKD 26,255,000 in 2021, due to additional professional fees and increased employee costs[145] Market and Trading Conditions - The spot price of uranium fluctuated between USD 45 and USD 55 per pound during the second half of the year, closing at approximately USD 48 per pound[27] - The long-term uranium contract price increased from approximately USD 40 per pound at the beginning of the year to USD 51 per pound by year-end[27] - The overall uranium trading activities increased, with sales and distribution expenses rising approximately 149% to about HKD 1,593,000 compared to HKD 639,000 in 2021[145] Taxation and Financial Management - The total tax expense for the year included HKD 4,624,000 in Hong Kong profits tax and HKD 232,000 in China corporate income tax[103] - The tax rate for the company's Chinese subsidiaries is set at 25% as per the Corporate Income Tax Law of the People's Republic of China[106] - The company incurred an income tax expense of approximately HKD 7,247,000, an increase from HKD 2,457,000 in the previous year, due to taxable profits and withholding tax on dividends received[141] - The company generated bank interest income of HKD 1,541,000 in 2022, compared to HKD 825,000 in 2021, indicating improved financial management[98] Foreign Exchange and Risks - The company faced a net foreign exchange loss of approximately HKD 2,339,000 due to the depreciation of the RMB against the HKD[32] - The company reported a net foreign exchange loss of HKD 2,339,000 in 2022, compared to no loss in 2021, highlighting potential currency risk exposure[98] Future Outlook - The group plans to continue investing resources in uranium product trading and actively seek quality uranium resource projects, focusing on production projects to leverage the parent company's strengths in the nuclear energy sector[49] - The group will continue discussions with Mongolian authorities regarding the exploration license expiration for its uranium resource projects in Mongolia, despite slow project progress due to low natural uranium market prices[50] - The group will continue to explore potential investment opportunities in uranium resources, considering its financial health and global supply-demand dynamics[148]
中核国际(02302) - 2022 - 年度业绩