Financial Performance - The company reported a consolidated loss attributable to shareholders of HKD 677 million for the year ended December 31, 2023, compared to a loss of HKD 558 million in 2022[1]. - Revenue for the year increased to HKD 4,068,138 thousand, representing a growth of approximately 16.5% from HKD 3,490,725 thousand in 2022[2]. - The basic loss per share was HKD 22.4, compared to HKD 18.5 in the previous year, indicating a deterioration in earnings[2]. - Total comprehensive loss for the year amounted to HKD 633,506 thousand, compared to HKD 476,380 thousand in 2022[3]. - The company reported a loss for the year of HKD 633,506,000, compared to a loss of HKD 476,380,000 in the previous year, indicating a worsening of 32.9%[20]. - The total tax expense for 2023 was HKD 59.776 million, a decrease from HKD 75.258 million in 2022[27]. Dividends and Share Repurchase - The company did not declare any final dividend for the year, consistent with the previous year[1]. - The company did not declare any final or interim dividends for the year ending December 31, 2023, consistent with the previous year[28]. - The company repurchased a total of 2,718,000 shares at a total cost of HKD 2,772,360 during the year ended December 31, 2023[87]. - The board believes that the share repurchase enhances the company's net asset value and earnings per share[88]. Assets and Liabilities - Non-current assets decreased to HKD 32,890,472 thousand from HKD 35,150,069 thousand in the previous year, a decline of approximately 6.4%[5]. - Current assets decreased to HKD 18,931,227 thousand from HKD 19,871,880 thousand, a reduction of about 4.7%[5]. - Total liabilities decreased to HKD 12,544,317 thousand from HKD 12,660,012 thousand, indicating a slight reduction[6]. - The company's equity attributable to shareholders decreased to HKD 31,715,234 thousand from HKD 33,392,311 thousand, a decline of approximately 5.0%[6]. - The total assets of the company amounted to HKD 51,821,699,000, while total liabilities were HKD 17,755,520,000, leading to a net asset position[18]. Segment Performance - The group operates four reportable segments: Real Estate, Transportation, Hotel and Leisure, and Investment, each requiring different marketing strategies[13]. - The performance of reportable segments is assessed based on changes in fair value of investment properties, non-recurring gains or losses, and operating profit or loss before unallocated corporate expenses[15]. - The investment segment reported a loss of HKD 231,395,000, reflecting challenges in this area[20]. - The hotel and leisure division recorded a loss of HKD 74 million in 2023, an improvement from a loss of HKD 156 million in 2022[48]. Revenue Sources - Rental income contributed HKD 457,585,000, while dividend income accounted for HKD 96,157,000, totaling HKD 553,742,000 from other sources[20]. - Revenue from external customers in Hong Kong was HKD 589,209,000, while Macau generated HKD 759,458,000, contributing to a total of HKD 4,172,724,000[24]. - The fair value change of investment properties resulted in a loss of HKD 248,804,000, which is part of the overall operating loss[20]. Operational Developments - The company plans to focus on market expansion and new product development to improve future performance[20]. - The company is expanding its cross-border ferry and bus services, with operations returning to approximately 50% of pre-pandemic levels by the end of 2023[71]. - The company launched new multi-modal transport services connecting Hong Kong International Airport to Macau and Zhuhai in 2023[73]. Future Projects and Developments - The Hengqin Comprehensive Development Project is expected to open its shopping mall in the second half of 2024, with a focus on leisure and entertainment tenants[35]. - The Beijing Tongzhou Comprehensive Development Project is set to begin pre-sales of its residential units in 2024, with the first phase expected to be completed in 2025[37]. - The company plans to launch two new hotels in mainland China: Zhuhai Hengqin Yacheng Hotel and Chongqing Yuelai Yacheng Hotel[53]. - The Shanghai Qiantan 31 project, launched in October 2023, features a total construction area of 139,200 sq m and includes a five-star hotel with 202 rooms, positioning it as a cultural and commercial hub[45]. Employee and Governance - The group employed approximately 1,700 employees at year-end, offering competitive compensation and promoting team spirit through regular events[84]. - The company has complied with all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and CEO[89]. - The consolidated financial statements for the year ended December 31, 2023, were reviewed by the Audit and Risk Management Committee[90].
信德集团(00242) - 2023 - 年度业绩