Financial Performance - For the fiscal year ending December 31, 2023, the total revenue was HKD 258,894,000, a decrease of 8% from HKD 281,333,000 in the previous year[3] - The gross profit for the year was HKD 19,512,000, down 16% from HKD 23,150,000 in 2022[3] - The company reported a loss before tax of HKD 8,188,000, compared to a loss of HKD 5,576,000 in the prior year, indicating a worsening financial performance[3] - The basic loss per share increased to HKD 0.40 from HKD 0.34, reflecting a higher loss attributable to shareholders[3] - The group reported an impairment loss of HKD 2,803 on property, plant, and equipment in 2023, compared to no such loss in 2022[27] - The group recorded a net loss of approximately HKD 8.0 million in 2023, compared to a net loss of about HKD 6.7 million in 2022[60] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 214,780,000, a decrease from HKD 223,881,000 in the previous year[4] - The company's cash and cash equivalents increased to HKD 35,887,000 from HKD 19,746,000, showing improved liquidity[4] - Trade receivables and other receivables decreased significantly to HKD 22,265,000 from HKD 58,213,000, indicating a reduction in outstanding debts[4] - The company’s bank loan amounted to HKD 8,000,000, with no new loans obtained in 2023, and the loan is secured against property valued at HKD 15,211,000[37] - The debt ratio as of December 31, 2023, was approximately 24.3%, stable compared to 23.6% on December 31, 2022[63] Revenue Breakdown - Revenue from Macau decreased significantly to HKD 22,144 in 2023 from HKD 111,644 in 2022, while revenue from Hong Kong increased to HKD 236,750 from HKD 169,689[24] - Major customer A contributed HKD 232,509 in revenue for 2023, up from HKD 158,714 in 2022, while customer B did not contribute over 10% of total revenue in 2023[25] - Project revenue in Hong Kong for 2023 was HKD 236.7 million, up from HKD 169.7 million in 2022, indicating a significant growth in this market[43] - Revenue from the Macau segment decreased due to existing projects nearing completion and new projects starting only at the end of 2023[41] Operational Highlights - The company has 14 ongoing electromechanical engineering service projects with a total contract value of approximately HKD 267.2 million as of December 31, 2023[40] - The company completed 9 electromechanical engineering service projects in 2023, with a total contract amount of about HKD 39.1 million awarded during the year[40] - The group operates in a single business segment focused on power and mechanical engineering services, with no further analysis of segment data presented[22] - The group primarily serves general contractors and subcontractors in Macau and Hong Kong, with contracts mainly being fixed-price agreements[19] Employee and Administrative Costs - Total employee costs increased to HKD 31,317,000 in 2023 from HKD 25,172,000 in 2022, reflecting a rise of about 24.5%[7] - Administrative expenses increased from approximately HKD 17.6 million in 2022 to about HKD 22.1 million in 2023, primarily due to higher employee costs and professional fees[58] - The group has 72 full-time employees as of December 31, 2023, down from 79 employees in the previous year[81] Future Outlook and Strategic Initiatives - The company anticipates an 8.3% growth in Macau's GDP in 2024, driven by increased tourism and gaming services post-COVID[41] - The management has restructured its project management team and digitized workflows to better handle larger and more complex projects in the future[43] - The company is optimistic about the recovery of the electromechanical market in Macau and Hong Kong and aims to capture new market opportunities[44] - The group aims to strengthen its position as a comprehensive contractor by actively seeking new projects in the Macau and Hong Kong markets, driven by strong market demand and growth opportunities[76] Governance and Compliance - The company has not reported any significant violations of applicable laws and regulations that would materially affect its business operations[80] - The company has complied with corporate governance standards and regularly reviews its policies to ensure alignment with applicable regulations[88] - The audit committee has reviewed the accounting principles and practices adopted by the group, ensuring consistency with the audited financial statements for the year 2023[90] Miscellaneous - The company has not disclosed any new product launches or technological advancements during the reporting period[5] - There were no significant mergers or acquisitions reported in the fiscal year[5] - Future outlook and performance guidance were not provided in the earnings announcement[5] - The company did not declare or propose any dividends for the year ended December 31, 2023, consistent with 2022[30] - The company has adopted a stock option plan to incentivize eligible participants for their contributions to the group, with no options exercised or granted since its adoption[85] - The group has actively sought investment opportunities in various industries in the Greater China region to diversify operational risks and uncertainties[78] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[92] - The annual report will be available for shareholders at an appropriate time[92]
澳达控股(09929) - 2023 - 年度业绩