Financial Performance - The total comprehensive income for the year ended December 31, 2023, was HKD 6,069 million, compared to HKD 4,863 million in 2022, representing a growth of approximately 25%[2] - The company reported a net profit of HKD 5,179 million for the year, compared to HKD 4,150 million in the previous year, showing an increase of approximately 24.8%[11] - Total revenue for the year ended December 31, 2023, was HKD 327,941,000, an increase from HKD 297,548,000 in 2022, representing a growth of 10.2%[30] - The reported segment profit for the property development business was HKD 12,391 million, compared to HKD 5,381 million in the previous year, reflecting a substantial increase[22] - The company reported a significant increase in service revenue, which rose to HKD 44,558,000 in 2023 from HKD 25,868,000 in 2022, an increase of 72.1%[59] - The net profit for the fiscal year 2023 was HKD 134,389,000, up from HKD 126,132,000 in 2022, indicating a growth of about 6.0%[163] Revenue Growth - Revenue from external customers in the property development business for the year was HKD 237,700 million, a significant increase from HKD 200,168 million in the previous year, indicating a growth of approximately 18.7%[22] - Revenue from the construction equipment business in Hong Kong was HKD 91,616 million, up from HKD 39,718 million in the previous year, indicating a growth of approximately 130%[29] - Revenue from machinery sales for the year was approximately HKD 15,800,000, representing an increase of about 73.3% compared to the previous fiscal year[100] - Revenue from construction equipment business reached HKD 62,489,000 in 2023, up from HKD 36,584,000 in 2022, marking a significant increase of 70.8%[33] - The rental income from machinery leasing increased by approximately 7.1% to about HKD 175,200,000, driven by increased demand in the crane leasing market in Hong Kong and Singapore[119] Financial Position - The group's total borrowings, including loans and related interest payable, amounted to approximately HKD 154,432 million, with cash and cash equivalents of about HKD 24,228 million[6] - The total assets of the group as of December 31, 2023, were HKD 559,546 million, with total liabilities amounting to HKD 422,447 million[27] - The total debt as of December 31, 2023, was HKD 216,235,000, compared to HKD 214,014,000 in the previous year, with a debt-to-equity ratio of 1.5[99] - The group’s net current liabilities and accumulated losses were approximately HKD 62,933 million and HKD 363,351 million, respectively, as of December 31, 2023[6] - The asset-to-liability ratio decreased to 1.5 as of December 31, 2023, from 1.6 in the previous year, primarily due to a reduction in interest-bearing loans[111] Market Outlook - The overall construction demand in Singapore for 2024 is estimated to be between SGD 32 billion and SGD 38 billion, an increase from SGD 33.8 billion in 2023[137] - The actual construction output for 2024 is projected to be between SGD 34 billion and SGD 37 billion, indicating strong market demand driven by infrastructure projects and housing needs[137] - The construction sector is expected to remain active, with annual construction volumes projected at SGD 31 billion to SGD 38 billion from 2025 to 2028[137] - The future outlook includes the construction of approximately 308,000 public housing units in Hong Kong over the next five years, with an average of over 19,000 private housing units completed annually starting in 2024[155] Corporate Governance and Strategy - The company has adopted corporate governance practices in line with the listing rules, ensuring compliance and enhancing investor confidence[156] - The company plans to continue expanding its market presence in Hong Kong, Singapore, and China, focusing on construction equipment and related services[55] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[186] - The company has identified potential acquisition targets to support its growth strategy in the construction equipment sector[186] Other Financial Information - The total income tax expense for the year was HKD 7,123,000, compared to HKD 447,000 in the previous year[69] - The average number of ordinary shares outstanding remained at 1,060,000,000, with basic and diluted earnings per share of HKD 0.51, up from HKD 0.49[75] - The company received government subsidies of HKD 1,187,000 in 2022, which were not present in 2023, indicating a shift in financial support[62] - The group recorded a profit of approximately HKD 5,400,000 for the year, compared to HKD 5,200,000 in the previous year, reflecting a growth of about 3.8%[106] - The company has not yet adopted new and revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, which may impact future financial reporting[9]
佳兆业资本(00936) - 2023 - 年度业绩