Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately $66.3 million, a decrease of 45.5% compared to $121.7 million for the year ended December 31, 2022[3]. - The group incurred a net loss of approximately $9.7 million for the year ended December 31, 2023, compared to a net loss of $1.6 million in 2022[3]. - Basic loss per share for the year ended December 31, 2023, was 6.88 HK cents, compared to 1.51 HK cents in 2022[3]. - Gross profit for the year ended December 31, 2023, was $2.9 million, down from $8.4 million in 2022, reflecting a gross margin decrease[5]. - Total revenue for the year ended December 31, 2023, decreased by 45.5% to $66.3 million, primarily due to weak consumer market demand and a downturn in the semiconductor industry[53]. - Gross profit for the same period decreased by 65.0% to $2.9 million, with the gross margin dropping from 6.9% to 4.4% due to lower profits from motor control[54]. - The company recorded a net loss of $9.7 million for the year, an increase of 515.5% from a loss of $1.6 million in the previous year[61]. Assets and Liabilities - Total assets decreased to $54.2 million as of December 31, 2023, from $65.8 million in 2022[6]. - Current assets decreased to $43.1 million as of December 31, 2023, from $53.3 million in 2022, primarily due to a reduction in inventory and trade receivables[6]. - The group reported a total equity of $22.6 million as of December 31, 2023, down from $34.5 million in 2022[6]. - Total trade receivables decreased to $19,047,000 in 2023 from $24,099,000 in 2022, reflecting a reduction of approximately 20.9%[42]. - The net amount of trade receivables was $16,277,000 in 2023, down from $20,261,000 in 2022, a decrease of about 19.7%[42]. - The provision for expected credit losses on trade receivables increased to $1,180,000 in 2023 from $939,000 in 2022, representing a rise of 25.7%[45]. Dividends and Shareholder Returns - The board did not recommend the payment of a final dividend for the year ended December 31, 2023[3]. - The company did not declare or recommend any dividends for the year, consistent with 2022[35]. - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2023[73]. Costs and Expenses - Financing costs increased to $2.3 million for the year ended December 31, 2023, compared to $1.6 million in 2022[5]. - Employee benefits expenses for the year amounted to $4.1 million, representing 6.3% of total revenue, compared to 3.9% in 2022[66]. - The company’s employee benefits expenses, including director remuneration, were approximately $1,761,000 in 2023, compared to $2,387,000 in 2022, a decrease of about 26.2%[30]. - The company incurred $62,148,000 in cost of goods sold for inventory recognized as expenses in 2023, down from $112,111,000 in 2022, a reduction of approximately 44.7%[6]. Income and Other Financial Metrics - The company reported a total of $193,000 in other income for 2023, a decrease of 15.7% from $229,000 in 2022[25]. - Other income for the year was $0.2 million, mainly consisting of government subsidies and interest income from life insurance deposits[55]. - Interest expenses increased to $2.284 million in 2023, up 47% from $1.555 million in 2022[28]. - The deferred tax expense for 2023 was $1,097,000, compared to a tax credit of $594,000 in 2022, indicating a significant shift in tax position[31]. Operational Insights - Revenue from mobile devices and smart charging was $32.271 million, down 52.5% from $67.947 million in 2022[20]. - Revenue from motor control products decreased by 33.6% to $26.612 million from $40.149 million in 2022[20]. - Revenue from major customers included $15.203 million from Customer A and $7.500 million from Customer B, representing significant contributions to total revenue[20]. - The company has identified only one operating segment, which is the sale of IC products and electronic components, for resource allocation and performance evaluation[18]. Compliance and Governance - The independent auditor, Deloitte, confirmed that the financial figures for the year ending December 31, 2023, align with the audited consolidated financial statements[74]. - The audit committee reviewed the audited annual performance and confirmed compliance with applicable accounting standards and regulations[76]. - The remuneration committee is responsible for recommending the remuneration policies for all directors and senior management[77]. - The nomination committee has established a board diversity policy, recognizing the benefits of diversity in board membership[80]. - There are no significant post-reporting date events for the group[82]. - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the respective websites[81]. Future Outlook - The company expects no significant impact from the adoption of new accounting standards on its consolidated financial statements for the initial application year[16]. - The company has not early adopted any new accounting standards that are issued but not yet effective, anticipating no major impact on financial statements[16].
康特隆(01912) - 2023 - 年度业绩