Financial Performance - The company's total revenue for the year ended December 31, 2022, was HKD 137,656,000, a decrease from HKD 478,917,000 in the previous year, representing a decline of approximately 71.2%[5] - Gross profit for the year was HKD 24,935,000, down from HKD 115,126,000 in the previous year, indicating a decrease of about 78.3%[5] - The company reported a net loss of HKD 301,861,000 for the year, compared to a profit of HKD 88,653,000 in the previous year, marking a significant shift in performance[5] - Total comprehensive loss for the year was HKD 301,861,000, compared to a comprehensive income of HKD 88,653,000 in the previous year[6] - The company reported a basic loss per share of HKD 2.05, compared to earnings of HKD 0.91 per share in the previous year[6] - The company reported a profit for the year of HKD 88,500,000 in 2022[10] - The company reported a loss before tax of HKD 199,156,000 for the year 2022, compared to a profit of HKD 88,500,000 in 2021[32] - The group reported a revenue of HKD 137.7 million for the year ended December 31, 2022, a decrease of 71.3% compared to HKD 478.9 million in the previous year[96] - The loss attributable to the owners of the company was approximately HKD 199.2 million, compared to a profit of HKD 88.5 million for the year ended December 31, 2021[96] Assets and Liabilities - Non-current assets increased to HKD 7,089,984,000 from HKD 6,621,889,000, reflecting a growth of approximately 7.1%[7] - Current assets decreased to HKD 440,765,000 from HKD 686,759,000, a decline of about 35.8%[7] - The company's cash and cash equivalents dropped significantly to HKD 165,452,000 from HKD 396,387,000, a decrease of approximately 58.3%[7] - The total liabilities decreased to HKD 184,132,000 from HKD 264,697,000, indicating a reduction of about 30.4%[7] - Non-current liabilities increased to HKD 2,639,610,000 in 2022 from HKD 2,358,160,000 in 2021, representing an increase of approximately 11.9%[8] - Deferred tax liabilities rose to HKD 2,215,014,000 in 2022, up from HKD 2,090,628,000 in 2021, marking an increase of about 6.0%[8] - Total equity increased to HKD 4,707,007,000 in 2022 from HKD 4,685,791,000 in 2021, reflecting a growth of approximately 0.5%[9] - The company's total liabilities and equity amounted to HKD 7,562,937,000 as of December 31, 2022[10] Revenue Streams - In 2022, lithium-ion battery sales generated revenue of HKD 95,727,000, a significant decrease of 79.8% compared to HKD 473,087,000 in 2021[16] - Battery testing service revenue amounted to HKD 13,370,000 in 2022, with no revenue reported in 2021[16] - Revenue from battery replacement services was HKD 4,124,000 in 2022, compared to HKD 5,830,000 in 2021[16] - Platform and ride-hailing service revenue reached HKD 19,079,000 in 2022, with no prior year revenue reported[16] - Advertising and related revenue was HKD 372,000 in 2022, also with no prior year revenue reported[16] - Revenue from major customer A1 contributed 98,557 thousand HKD in 2022, down from 462,375 thousand HKD in 2021, representing a decline of approximately 78.7%[25] Operational Changes - The company is engaged in investment holding, with subsidiaries involved in mineral resource trading and lithium-ion battery production[11] - The company has acknowledged the high investment risk associated with its listing on the GEM market, emphasizing the need for careful consideration by potential investors[3] - The company began providing ride-hailing and related services after acquiring Jihang International Technology Limited, marking a new operational segment[18] - The company has identified its operating segments based on product and service nature, including lithium battery production and ride-hailing services[18] Impairment and Losses - The company incurred impairment losses on property, plant, and equipment amounting to 18,244 thousand HKD in 2022, reflecting challenges in asset valuation[21] - The company recognized an impairment loss of HKD 20,725,000 related to cash-generating units associated with lithium-ion battery production, compared to HKD 18,244,000 in 2021[34] - The company incurred a loss of HKD 30,022,000 from the impairment of property, plant, and equipment in 2022, compared to HKD 18,244,000 in 2021, representing a rise of approximately 64.5%[27] - The group recognized a loss attributable to shareholders of approximately HKD 199,200,000 for the year ended December 31, 2022, compared to a profit of HKD 88,500,000 in the previous year, mainly due to provisions related to government subsidies and financial asset losses[100] Investments and Acquisitions - The company acquired an additional 15.56% stake in Jihang International, making it a subsidiary[30] - The cash consideration for the step acquisition was HKD 29,877,000, completed on August 10, 2022, resulting in a 35.56% ownership stake in Ji Xing International[58] - The identifiable net assets acquired had a total fair value of HKD 160,556,000, with non-controlling interests amounting to HKD 103,462,000[59] - The company completed the acquisition of a controlling stake in Jihang International Technology Limited on August 10, 2022, which operates the Caocao ride-hailing service in France[96] Future Outlook and Strategy - The company expects that the adoption of new or revised Hong Kong Financial Reporting Standards will not have a significant impact on future consolidated financial statements[14] - The group plans to focus on reducing scale and simplifying operations in 2023 due to ongoing challenges and uncertainties in the economic environment[101] - The company anticipates continued high growth in the new energy vehicle industry in the coming years[109] - The group is actively identifying and reviewing potential projects in the new energy and mining sectors to create value for shareholders through mergers, investments, and collaborations[112] Corporate Governance and Compliance - The group emphasizes high standards of corporate governance and has complied with GEM listing rules, except for the internal audit function[120] - The Audit Committee held four meetings during the year to review the company's 2021 full-year performance, 2022 interim performance, quarterly performance, and internal control procedures and risk management systems[122] - The Audit Committee confirmed that the performance results were prepared in accordance with applicable accounting standards and regulations, with sufficient disclosure[122]
洪桥集团(08137) - 2022 - 年度业绩