Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 42,311,000, a decrease of 36.1% compared to HKD 66,267,000 in 2022[4]. - The gross profit for the same period was HKD 6,808,000, down 68.9% from HKD 21,830,000 in the previous year[4]. - The net loss for the year was HKD 49,071,000, compared to a net loss of HKD 43,023,000 in 2022, representing a 14.5% increase in losses[4]. - Basic and diluted loss per share for the year was HKD 33.26, compared to HKD 31.77 in the previous year, indicating a worsening of the loss per share by 4.7%[4]. - The reported revenue from external customers for the year ended December 31, 2023, was HKD 42,311,000, a decrease of 36.1% from HKD 66,267,000 in 2022[22][25]. - The reported segment loss for the year ended December 31, 2023, was HKD (16,640,000), an improvement from HKD (26,444,000) in 2022, indicating a reduction in losses by 37.1%[22][25]. - The company reported a total comprehensive loss before tax of HKD (48,615,000) for 2023, compared to HKD (42,974,000) in 2022, indicating an increase in losses by 13.7%[25]. - The group recorded a net income of HKD 2,000,000 for other income, gains, and losses, compared to HKD 1,200,000 in the same period last year, primarily due to an increase in fair value changes of financial assets measured at fair value through profit or loss[54]. - The company reported a net impairment loss of HKD (11,702,000) for the year ended December 31, 2023, compared to HKD (23,795,000) in 2022, showing a decrease in impairment losses by 50.8%[32]. Revenue Breakdown - Revenue from travel media decreased significantly to HKD 2,400,000 from HKD 14,941,000, representing an 83.9% decline[15]. - Revenue from financial magazines and other media services was HKD 38,370,000, down 18.0% from HKD 46,900,000 in the previous year[15]. - Virtual reality revenue dropped to HKD 552,000 from HKD 3,326,000, a decline of 83.4%[15]. - The travel media business generated revenue of HKD 2,400,000, a decrease of 83.9% or HKD 12,500,000 from HKD 14,900,000 in the previous year[58]. - The financial magazine and other media business accounted for HKD 38,400,000 in revenue, representing 90.8% of the group's total revenue for the year[60]. - The lending business generated revenue of HKD 1,000,000, accounting for 2.4% of the group's total revenue for the year[62]. - The virtual reality business generated approximately HKD 600,000 in revenue, accounting for about 1.4% of the total revenue for the year[68]. Assets and Liabilities - The company's total assets decreased to HKD 79,553,000 from HKD 103,734,000, a decline of 23.3% year-over-year[5]. - Current liabilities increased significantly to HKD 33,515,000 from HKD 7,618,000, marking a rise of 340.5%[5]. - The total segment assets as of December 31, 2023, were HKD 78,485,000, down from HKD 92,226,000 in 2022, reflecting a decrease of 15%[22][25]. - The total segment liabilities increased significantly to HKD 31,438,000 in 2023 from HKD 5,926,000 in 2022, marking a rise of 431.5%[25]. - The company’s accounts payable and other payables totaled HKD 32,972 thousand as of December 31, 2023, compared to HKD 7,531 thousand in 2022[46]. - The total amount of contract liabilities as of December 31, 2023, was HKD 450 thousand, down from HKD 500 thousand in 2022[51]. - The total outstanding principal and accrued interest of loans not yet repaid amounted to approximately HKD 9,900,000[62]. Employee and Operational Costs - The total employee costs (excluding directors' remuneration) for the year were HKD 895 thousand, down from HKD 22,681 thousand in 2022[36]. - Sales and distribution costs decreased by HKD 300,000 to HKD 3,700,000, a reduction of 7.5% compared to HKD 4,000,000 in the previous year[56]. - Administrative expenses increased by approximately HKD 4,000,000 to about HKD 42,000,000, reflecting a 10.5% increase from HKD 38,000,000 in the previous year[56]. - The group employed 27 staff members as of December 31, 2023, a decrease from 42 in the previous year[78]. Shareholder Information - The company did not declare any dividends for the year ended December 31, 2023, consistent with 2022[37]. - The company had outstanding stock options of 11,574,500 shares as of December 31, 2023, compared to 19,290,900 shares in 2022[38]. - The total number of unexercised share options as of December 31, 2023, was 11,574,500, representing approximately 7.84% of the total issued share capital[84]. - The group will not early adopt new Hong Kong Financial Reporting Standards that have been issued but are not yet effective[14]. Future Outlook and Strategy - The company continues to engage in various business segments including advertising services, securities investment, and virtual reality, but has not disclosed specific future strategies or product developments in the provided content[6]. - The group will actively expand its customer base and explore opportunities in financial magazines and other media sectors[70]. - The annual report for the year 2023 is expected to be sent to shareholders by April 30, 2024[91]. - The announcement will be published on the GEM website and the company's website for at least seven consecutive days from the date of publication[92].
华泰瑞银(08006) - 2023 - 年度业绩