Financial Performance - Revenue for the year 2023 reached HKD 120,836,000, an increase from HKD 94,387,000 in 2022, representing a growth of approximately 28%[2] - Gross profit for 2023 was HKD 68,776,000, compared to HKD 53,265,000 in 2022, indicating a gross margin improvement[2] - The company reported a net loss before tax of HKD 19,384,000 for 2023, a significant reduction from a loss of HKD 151,152,000 in the previous year[3] - Basic loss per share for 2023 was HKD 1.20, compared to HKD 9.13 in 2022, reflecting a substantial improvement in financial performance[3] - The group reported a total loss of HKD 19,384,000 for the year ending December 31, 2023, compared to a loss of HKD 151,152,000 in the previous year[25] - The cumulative loss for the group reached HKD 1,226,075,000 as of December 31, 2023, compared to HKD 1,206,328,000 in the previous year[28] - The overall operating loss for the year was HKD 18,561,000, a substantial improvement of 88% from HKD 149,800,000 in the previous year[96] - The company reported a net loss attributable to shareholders of HKD 19,747,000, down 87% from HKD 150,663,000 in the prior year[126] Assets and Liabilities - Non-current assets decreased to HKD 482,428,000 in 2023 from HKD 556,953,000 in 2022, primarily due to depreciation and impairment losses[6] - Current assets totaled HKD 621,907,000 in 2023, slightly down from HKD 628,958,000 in 2022, with inventory decreasing from HKD 22,511,000 to HKD 11,925,000[6] - The company’s total liabilities remained stable at HKD 36,728,000 in 2023, compared to HKD 36,000,000 in 2022[6] - The net asset value decreased to HKD 1,067,607,000 in 2023 from HKD 1,142,015,000 in 2022, indicating a decline in overall equity[6] - The total equity attributable to the company's shareholders decreased to HKD 1,068,364,000 from HKD 1,143,130,000 year-over-year[28] - The total assets of the company as of December 31, 2022, were HKD 1,185,911,000, while total liabilities amounted to HKD (38,014,000)[46] Revenue Segments - Retail apparel and accessories revenue for 2023 was HKD 86,867,000, up from HKD 71,304,000 in 2022, representing a growth of approximately 21.8%[49] - Revenue from food and beverage services at the resort and club business was HKD 934,000 for 2023, compared to HKD 2,283,000 in 2022, indicating a decline of about 59.0%[49] - Revenue from retail fashion and accessories was HKD 86,867,000, while income from investment was HKD 21,164,000, indicating strong performance in both segments[78] - The group's vacation center and club business recorded a revenue increase of 57% to HKD 12,805,000, driven by the lifting of social distancing measures[98] Investment Performance - The investment segment reported a profit of HKD 10,027,000, a significant turnaround from a loss of HKD 114,952,000 in 2022, marking a 109% improvement[96] - The investment portfolio's total book value as of December 31, 2023, was HKD 306,572,000, representing approximately 27.8% of the group's total assets[139] - The investment strategy includes four main types: money market investments, investment-grade and high-yield bond funds, enhanced yield funds, and equity funds[164] - The investment portfolio's fair value for bond funds was HKD 174,119,000, representing approximately 56.9% of the investment portfolio's book value and 15.8% of the group's total assets[165] Operational Efficiency - The company is committed to enhancing its operational efficiency and exploring new market opportunities to drive future growth[9] - The company has implemented strict cost management measures across all business segments, leading to a significant reduction in operating losses compared to the previous year[123] - The company has focused on reducing the number of merchandise brands to retain only the most popular ones, aiming to decrease seasonal inventory[179] - The group has implemented cost-reduction measures in the second half of 2023, including restructuring roles instead of replacing staff, leading to a more streamlined organization[156] Future Outlook - The company plans to cease operations of the resort and club business effective June 16, 2024, to improve future financial performance[124] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[78] - The retail market recovery in 2023 was below expectations, and the group anticipates continued challenges in 2024 due to uncertainties in the Hong Kong and China economic recovery[156] - The company continues to evaluate new strategies for market expansion and product development in response to changing market conditions[52] Compliance and Governance - The financial statements have been audited and confirmed consistent by external auditors, ensuring compliance with applicable financial reporting standards[9] - The group has not yet adopted the new accounting standards effective from January 1, 2024, which include revisions to liabilities classification and lease liabilities[19] - The company has maintained compliance with all corporate governance rules as per the listing rules during the fiscal year[185]
安宁控股(00128) - 2023 - 年度业绩