Financial Performance - Revenue increased significantly from approximately HKD 9.3 million for the year ended December 31, 2022, to approximately HKD 94.7 million for the year ended December 31, 2023, representing a growth of 918.3%[6] - Gross profit for the year ended December 31, 2023, was approximately HKD 13.3 million, compared to a gross loss of approximately HKD 1.0 million for the year ended December 31, 2022[6] - Loss for the year decreased by 79.3% from approximately HKD 12.1 million for the year ended December 31, 2022, to approximately HKD 2.5 million for the year ended December 31, 2023[6] - Basic loss per share attributable to owners of the company was approximately HKD 0.21 for the year ended December 31, 2023, compared to HKD 1.01 for the year ended December 31, 2022[6] - The company reported a net loss of approximately HKD 2.5 million for the year ended December 31, 2023, compared to a net loss of approximately HKD 12.1 million for the previous year[8] - The total reported segment loss before tax for 2023 was HKD 2,546,000, a significant improvement from a loss of HKD 12,080,000 in 2022[35][36] - The annual loss decreased significantly by 79.3% from approximately HKD 12.1 million for the year ended December 31, 2022, to approximately HKD 2.5 million for the year ended December 31, 2023[79] Revenue Breakdown - Total revenue for the year 2023 reached HKD 94,709,000, a significant increase from HKD 9,253,000 in 2022, representing a growth of approximately 927%[28] - Revenue from hotel room sales and distribution amounted to HKD 69,714,000, compared to HKD 6,612,000 in the previous year, indicating a growth of about 950%[28] - Total revenue from customer contracts was HKD 92,689,000, up from HKD 7,525,000 in 2022, reflecting an increase of approximately 1,233%[28] - The travel segment generated revenue of HKD 71,584,000 in 2023, compared to HKD 7,092,000 in 2022, marking an increase of about 911%[35][36] - The automotive segment reported revenue of HKD 13,304,000 in 2023, up from HKD 3,401,000 in 2022, reflecting a growth of approximately 290%[35][36] - The performance of the events segment showed a revenue of HKD 9,821,000 in 2023, recovering from a loss of HKD 1,240,000 in 2022[35][36] Assets and Liabilities - Total assets less current liabilities amounted to approximately HKD 35.9 million as of December 31, 2023, compared to HKD 39.6 million as of December 31, 2022[9] - Current assets increased to approximately HKD 47.1 million as of December 31, 2023, from HKD 39.2 million as of December 31, 2022[9] - Total assets as of December 31, 2023, amounted to HKD 58,753,000, an increase from HKD 49,205,000 in 2022, indicating a growth of approximately 19%[39][42] - Total liabilities increased to HKD 25,081,000 in 2023 from HKD 13,084,000 in 2022, representing a rise of about 92%[39][42] - The company’s total equity attributable to owners was approximately HKD 33.7 million as of December 31, 2023, down from HKD 36.1 million as of December 31, 2022[9] Cash Flow and Financing - As of December 31, 2023, the total cash and cash equivalents amounted to approximately HKD 9.3 million, an increase from HKD 7.9 million as of December 31, 2022, primarily due to increased revenue from hotel room sales and car rental services[94] - The total borrowings and lease liabilities as of December 31, 2023, were approximately HKD 3.4 million, down from HKD 7.1 million as of December 31, 2022[95] - The debt-to-equity ratio as of December 31, 2023, was approximately 10.0%, a decrease from 19.6% as of December 31, 2022[97] - Interest income for the year ended December 31, 2023, was reported at HKD 37,000, compared to HKD 23,000 in 2022[41][43] Operational Costs - Sales costs rose from approximately HKD 10.2 million to approximately HKD 81.4 million, an increase of 698.0%, primarily due to higher sales and distribution of hotel rooms and car rental services[73] - Employee benefit expenses (excluding directors' remuneration) rose to HKD 10,593,000 in 2023, up from HKD 7,004,000 in 2022, highlighting increased operational costs[58] - Administrative expenses remained relatively stable at approximately HKD 13.9 million and HKD 15.4 million for the years ended December 31, 2022, and 2023, respectively[76] - Financing costs were stable at approximately HKD 353,000 and HKD 240,000 for the years ended December 31, 2022, and 2023[78] Strategic Plans and Market Position - The group plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance market share and revenue streams[69] - The group aims to expand its tourism business into mainland China, diversifying its revenue sources beyond Macau[69] - The group’s strategic goal is to consolidate its market position in the Macau tourism industry and generate returns for shareholders[69] - The company is strategically seeking transactions and other business opportunities to stabilize the impact of the pandemic on its operations[89] Governance and Compliance - The company has adopted the corporate governance code as per GEM listing rules, ensuring transparency and accountability to protect shareholder interests[126] - The company confirms compliance with the minimum public float requirement of at least 25% as per GEM listing rules[131] - The audit committee reviewed the financial statements and confirmed compliance with applicable financial reporting standards and GEM listing rules[123] - The company has complied with all relevant laws and regulations in Macau, mainland China, and Hong Kong as of December 31, 2023[119] Risks and Challenges - The company faces significant risks due to the ongoing impact of the pandemic on tourism in Macau, with visitor numbers remaining uncertain despite policy relaxations[90] - The company’s revenue is heavily reliant on the Macau market, making it vulnerable to changes in local policies and economic conditions[90] Employee Relations - The company employed 88 staff members as of December 31, 2023, with total employee costs amounting to approximately HKD 12.8 million, an increase from HKD 8.7 million in 2022[117] - The company has established good relationships with employees, customers, and suppliers, with no major disputes reported during the fiscal year[121] Events and Future Outlook - The company successfully held eight concerts in China by December 31, 2023, which were initially scheduled for 2021 but postponed due to the pandemic[70] - The company plans to utilize the unspent net proceeds from the listing by December 31, 2024, to address future economic uncertainties[83] - The annual general meeting for 2024 is scheduled for May 10, 2024, with a suspension of share transfer registration from May 7 to May 10, 2024[134][135]
瀛海集团(08668) - 2023 - 年度业绩