Financial Performance - The total value of new contracts and supplementary contracts for continuing operations was HKD 557,812,000, a decrease of 25.1% compared to HKD 744,758,000 in 2022[4]. - The total amount of contracts on hand for continuing operations was HKD 1,393,992,000, down 8.5% from HKD 1,523,790,000 in 2022[4]. - Revenue from continuing operations was HKD 454,250,000, a decrease of 14.9% from HKD 533,759,000 in 2022[4]. - The annual loss was HKD 19,080,000, compared to a loss of HKD 11,136,000 in 2022[4]. - The loss attributable to the owners of the company was HKD 21,240,000, compared to HKD 18,797,000 in 2022[4]. - Basic and diluted loss per share was HKD 0.0737, compared to HKD 0.0652 in 2022[6]. - The annual gross profit was HKD 58.54 million, down 18.0% from HKD 71.42 million in 2022, with gross margins of 12.9% in 2023 compared to 13.4% in 2022[49]. - The company reported a pre-tax loss of HKD 9.90 million for the year, with costs of services provided at HKD 395.71 million[27]. - The company reported a net loss attributable to shareholders of HKD 21,240,000 for the year ended December 31, 2023, compared to a loss of HKD 18,797,000 in 2022[34]. Assets and Liabilities - The total assets less current liabilities amounted to HKD 432,916,000, down from HKD 543,779,000 in 2022[8]. - Non-current assets totaled HKD 156,707,000, an increase from HKD 121,898,000 in 2022[8]. - Cash and bank balances decreased to HKD 90,101,000 from HKD 160,869,000 in 2022[8]. - Trade receivables decreased to HKD 178,601,000 in 2023 from HKD 213,851,000 in 2022, reflecting a reduction of approximately 16%[36]. - Trade payables increased to HKD 29,015,000 in 2023 from HKD 15,772,000 in 2022, representing an increase of 84%[38]. - As of December 31, 2023, the current ratio was 2.10, down from 2.45 in 2022, reflecting a decrease in contract asset value and an increase in trade payables[55]. - The group has a bank balance and cash totaling HKD 90.10 million as of December 31, 2023, down from HKD 160.87 million in 2022[55]. Revenue Segments - The total revenue for the construction design services segment was HKD 454,250,000, while the BIM services segment generated HKD 100,408,000, leading to a total revenue of HKD 554,658,000[17]. - Revenue from services provided over time amounted to HKD 532,713,000, with HKD 454,250,000 from construction design services and HKD 78,463,000 from BIM services[17]. - External customer revenue from Mainland China decreased to HKD 207.05 million in 2023 from HKD 332.22 million in 2022, representing a decline of approximately 37.7%[23]. - The company recognized government grants of HKD 3.93 million in 2023, down from HKD 8.45 million in 2022[26]. Impairment and Losses - The company reported a net impairment loss of HKD 7,070,000 across financial, contract, and other assets, with HKD 5,595,000 attributed to the construction design services segment and HKD 1,475,000 to the BIM services segment[18]. - The company incurred a net impairment loss of HKD 5.10 million on financial and contract assets, with depreciation and amortization expenses totaling HKD 44.68 million[21]. - The company reported a loss of HKD 994,000 from its share of losses in a joint venture and a profit of HKD 1,010,000 from its share of profits in an associate[18]. - The company’s share of losses from joint ventures and associates totaled HKD 176,000 for the year[21]. Capital Expenditures and Investments - Capital expenditures for the year totaled HKD 4,295,000, with HKD 1,933,000 from the construction design services segment and HKD 2,362,000 from the BIM services segment[18]. - Capital expenditures for the year amounted to HKD 10.89 million, which includes investments in property, plant, and equipment[21]. - The investment in a limited partnership for medical isotopes in China amounts to RMB 25 million, expected to significantly enhance the supply chain for medical isotopes[43]. Corporate Actions and Governance - The company did not propose a final dividend for the year, consistent with the previous year[4]. - The company did not recommend or pay any final dividends for the years ended December 31, 2023, and 2022[35]. - The company has adopted a code of conduct for securities trading, confirming compliance with the standards set forth in the Listing Rules as of December 31, 2023[87]. - The audit committee has reviewed the financial and accounting policies, internal controls, and governance procedures, concluding that the financial statements comply with applicable accounting standards[89]. - The independent auditor has verified that the financial figures in the preliminary announcement align with the draft consolidated financial statements for the year ending December 31, 2023[91]. Future Outlook and Strategy - The company is actively exploring transformation opportunities to adapt to future business models and seek potential investment prospects[40]. - The group aims to leverage opportunities in the Greater Bay Area, focusing on economic growth and innovation, as well as sustainable development projects in smart cities[59][60]. - The group plans to further promote green smart building development in key markets, including mainland China, Hong Kong, and the Middle East and North Africa[57]. Shareholder Information - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the company's website and the Hong Kong Stock Exchange website[92]. - The annual general meeting is scheduled for June 4, 2024, with related documents to be sent to shareholders in April 2024[93]. - Shareholder registration will be suspended from May 29, 2024, to June 4, 2024, to determine voting rights at the annual general meeting[94].
思城控股(01486) - 2023 - 年度业绩