Financial Performance - Revenue increased by approximately 3.6% to about HKD 110.0 million for the year ended December 31, 2023, compared to HKD 106.2 million in 2022[4] - The group recorded a gross loss of approximately HKD 16.6 million for the year ended December 31, 2023, compared to a gross profit of HKD 9.8 million in 2022[4] - The loss attributable to equity holders of the company was approximately HKD 29.4 million for the year ended December 31, 2023, compared to HKD 7.4 million in 2022[4] - Basic loss per share was approximately HKD 0.0294 for the year ended December 31, 2023, compared to HKD 0.0074 in 2022[4] - The group reported a loss before tax of approximately HKD 29,412,000 for the year, compared to a loss of HKD 7,409,000 in 2022[29] - The total loss and comprehensive expenses for the year ended December 31, 2023, amounted to approximately HKD 29.4 million, an increase from HKD 7.4 million in 2022, primarily due to increased construction costs[53] - The net loss margin for the year ended December 31, 2023, was approximately 26.7%, compared to 7.0% in 2022[54] Revenue Sources - The group’s revenue is derived from providing RMAA engineering services, with all contracts primarily being fixed-price contracts[20] - Total revenue from customer contracts for 2023 was HKD 110,034,000, compared to HKD 106,187,000 in 2022, reflecting an increase of approximately 1.7%[20] - The group reported revenue from major customers exceeding 10% of total revenue, with Customer A contributing HKD 53,350,000, Customer B contributing HKD 28,060,000, and Customer C contributing HKD 15,211,000 for the year 2023[19] - Revenue for the year ended December 31, 2023, was approximately HKD 110.0 million, an increase from HKD 106.2 million in 2022, primarily driven by projects related to the Small Island Comprehensive Rehabilitation Services Building[46] Assets and Liabilities - Total assets decreased to HKD 125.996 million in 2023 from HKD 155.348 million in 2022[7] - Current liabilities decreased to HKD 51.450 million in 2023 from HKD 99.132 million in 2022[7] - Cash and cash equivalents decreased to HKD 10.1 million in 2023 from HKD 24.54 million in 2022[7] - Trade receivables amounted to HKD 110,582,000, with an allowance for credit losses of HKD 16,015,000, resulting in a net receivable of HKD 94,567,000[31] - Contract assets, net of credit loss allowance, were HKD 23,850,000, with expected recoverable amounts in one year being approximately HKD 20,328,000[34] - Trade payables decreased to HKD 37.415 million in 2023 from HKD 57.999 million in 2022, with a significant increase in payables due within one month to HKD 5.967 million from HKD 2.030 million[36] Expenses - Employee benefit expenses for the year were approximately HKD 4,145,000, down from HKD 6,390,000 in 2022[24] - Administrative expenses decreased from approximately HKD 12.0 million for the year ended December 31, 2022, to about HKD 9.3 million for the year ended December 31, 2023, representing a reduction of approximately HKD 2.7 million or 22.4%[50] - Financing costs increased from approximately HKD 14,000 for the year ended December 31, 2022, to about HKD 53,000 for the year ended December 31, 2023, due to bank borrowings of HKD 4.0 million[51] - Income tax expenses decreased from approximately HKD 4.5 million for the year ended December 31, 2022, to about HKD 1.6 million for the year ended December 31, 2023[52] Dividends - No final dividend was declared for the year ended December 31, 2023[4] - The company did not declare or propose any dividends to ordinary shareholders for the year ending December 31, 2023[28] - The company does not plan to pay any dividends to ordinary shareholders for the year ending December 31, 2023[73] Corporate Governance - The company maintains high standards of corporate governance and has adopted the corporate governance code as its own[80] - All directors confirmed compliance with the standards for securities trading as of December 31, 2023[81] - The audit committee, consisting of three independent non-executive directors, confirmed the financial performance for the fiscal year ending December 31, 2023, was prepared in accordance with applicable accounting standards[85] - The company confirmed that it maintained sufficient public float as required by listing rules as of December 31, 2023[90] Future Plans and Investments - The company plans to enhance its RMAA engineering capabilities and improve overall competitiveness through the acquisition of a company engaged in RMAA contracting services and building materials distribution in Hong Kong[44] - There are no significant investments or capital asset plans other than the acquisition of 100% equity in a target company as disclosed on March 22, 2024[78] - Keybase Assets Limited agreed to acquire 100% of the target company's shares for HKD 22,000,000, to be settled through the issuance of 174,603,175 shares[88] Employee Management - The company has implemented an annual evaluation system to assess employee performance, which influences salary increases, bonuses, and promotions[72] - As of December 31, 2023, the company employed 25 employees in Hong Kong, a decrease from 34 employees as of December 31, 2022[72] Upcoming Events - The annual general meeting is scheduled for June 21, 2024, with relevant notices to be issued in accordance with listing rules[91] - The company will suspend share registration procedures from June 18 to June 21, 2024, to determine shareholder eligibility for the annual general meeting[92] - The annual results announcement for the fiscal year ending December 31, 2023, will be published on the company's website and the stock exchange website in April 2024[93]
盈汇企业控股(02195) - 2023 - 年度业绩