Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 40,587 million, representing a year-on-year increase of 17.94% compared to HKD 34,414 million in 2022[2] - Gross profit for the same period was HKD 3,700 million, up 15.70% from HKD 3,198 million in the previous year[2] - The profit attributable to equity shareholders for the year was HKD 2,123 million, reflecting a 27.43% increase from HKD 1,666 million in 2022[4] - Basic and diluted earnings per share increased to HKD 0.793, a rise of 33.50% from HKD 0.594 in the prior year[4] - The total comprehensive income for the year was HKD 2,151 million, compared to HKD 984 million in 2022, indicating significant growth[5] - The adjusted EBITDA for 2023 was HKD 3,159,104 thousand, up 23.3% from HKD 2,563,833 thousand in 2022[19] - The company recorded a comprehensive profit before tax of HKD 2,662,513 thousand for 2023, compared to HKD 2,038,844 thousand in 2022[19] - The operating profit for 2023 was HKD 3,628 million, a 17.41% increase from HKD 3,090 million in 2022, with supply chain trade contributing 58.02% to the gross profit[74] Revenue Breakdown - Revenue from coal sales reached HKD 31,805,175,000, up from HKD 26,927,042,000 in the previous year, indicating a growth of about 18.5%[13] - The supply chain integrated services segment generated revenue of HKD 6,326,916,000, a significant increase of 68.3% compared to HKD 3,756,526,000 in 2022[13] - The company reported a total revenue of HKD 40,587 million and a net profit of HKD 2,194 million for the year, representing year-on-year growth of 17.94% and 28.68% respectively[58] - Revenue from coal trading increased by approximately 18.12% to HKD 31,805 million, driven by a 66.96% increase in trading volume[67] - The supply chain integrated services revenue surged by 68.41% to HKD 6,326 million, supported by record coal imports at the China-Mongolia land port[67] Assets and Liabilities - Non-current assets increased to HKD 5,668 million from HKD 4,370 million, marking a growth of 29.54%[6] - Current assets rose to HKD 12,146 million, up from HKD 8,923 million, representing a 36.56% increase[6] - The total liabilities increased to HKD 8,358 million from HKD 5,670 million, reflecting a 47.43% rise[7] - The total assets reported for 2023 were HKD 19,179,968 thousand, compared to HKD 14,375,502 thousand in 2022, reflecting a growth of 33.3%[19] - The total liabilities for 2023 were HKD 10,027,753 thousand, an increase of 42.5% from HKD 7,048,844 thousand in 2022[19] Cash Flow and Financing - The net cash inflow from operating activities in 2023 was HKD 2,025 million, a decrease from HKD 2,172 million in 2022, primarily due to cash profits[89] - The net cash outflow from investing activities in 2023 was HKD 1,834 million, significantly higher than HKD 752 million in 2022, mainly due to investments in logistics facilities and coal washing plants[89] - The net cash inflow from financing activities in 2023 was HKD 533 million, a turnaround from a net cash outflow of HKD 2,112 million in 2022, largely due to bank loan inflows of approximately HKD 1,198 million[89] - As of December 31, 2023, the company had bank loans secured by various assets, including restricted bank deposits and property, totaling HKD 1,239 million in notes payable[88] - The net financing costs for 2023 were HKD 62,398 thousand, significantly reduced from HKD 217,033 thousand in 2022[23] Dividends and Shareholder Information - The company declared a final cash dividend of HKD 0.118 per share, totaling approximately HKD 320 million[2] - The company proposed a final dividend of HKD 0.118 per share, compared to HKD 0.084 per share in 2022[56] - As of December 31, 2023, the company had a total of 2,705,996,962 issued shares, with 44,098,000 shares repurchased during the year, of which 36,278,000 shares were cancelled and 7,820,000 shares will be cancelled in 2024[109] Market and Operational Insights - The company maintained nearly 30% market share in the coking coal market despite fluctuations in demand[58] - The logistics segment achieved a cross-border transportation volume of 11.06 million tons, a year-on-year increase of 96.80%[59] - The coal washing and processing segment completed a processing volume of 9.47 million tons, up 20.48% from the same period in 2022[59] - The company aims to enhance its competitive advantage in the evolving market landscape by balancing resource supply channels between the East and West[60] - The company expects a stable development in the steel industry for 2024, with an increase in the space for imported coal supply due to stricter domestic mining regulations[71] Employee and Training Initiatives - As of December 31, 2023, the company had 1,991 full-time employees, an increase from 1,844 in 2022, with a notable rise in employees with master's degrees or above from 3% to 5%[99][101] - The company conducted 353 hours of training in 2023, with over 6,575 participants, indicating a strong commitment to employee development[102] - The company has adopted a performance-based compensation system while ensuring compliance with local laws and regulations regarding employee contracts and social insurance[99] Environmental, Social, and Governance (ESG) Commitments - The company has engaged a third-party consultant for its ESG report, reflecting its commitment to environmental, social, and governance issues[104] - The company has maintained a focus on health and safety, reporting no major accidents or environmental incidents in 2023[104] Corporate Governance - The board of directors believes that the dual role of the chairperson and CEO, held by the same individual, provides consistent leadership and operational efficiency[107] - The audit committee has reviewed the company's full-year performance for the year ending December 31, 2023[114] - The annual performance announcement will be published on the company's website and the Hong Kong Stock Exchange website[115]
易大宗(01733) - 2023 - 年度业绩