Financial Performance - The company reported revenue of HKD 192,402,000 for the year ended December 31, 2023, an increase of 26.4% from HKD 152,215,000 in 2022[9]. - Gross profit for the year was HKD 52,788,000, representing a gross margin of 27.4%, up from 24.7% in the previous year[9]. - Operating profit increased to HKD 27,137,000, compared to HKD 19,770,000 in 2022, reflecting a growth of 37.5%[9]. - Profit from continuing operations was HKD 18,631,000, a significant recovery from a loss of HKD 79,783,000 in the prior year[9]. - Basic and diluted earnings per share from continuing operations were HKD 3.21, compared to HKD 2.08 in 2022[9]. - The company achieved a total comprehensive income of HKD 18,643,000 for the year, recovering from a loss of HKD 79,785,000 in the previous year[28]. - The group reported a profit attributable to owners of continuing operations of HKD 20,046,000 for the year ended December 31, 2023, compared to HKD 13,009,000 in 2022, representing a 54.5% increase[110]. - The basic earnings per share from continuing operations increased to HKD 3.21 in 2023 from HKD 2.08 in 2022, reflecting a growth of 54.3%[110]. - The net profit for the year ended December 31, 2023, was HKD 18,631 thousand, a recovery from a loss of HKD 79,783 thousand in 2022[81]. Assets and Liabilities - Non-current assets increased to HKD 2,824,000, compared to HKD 2,686,000 in 2022, indicating growth in asset base[31]. - Total liabilities rose to HKD 100,154,000 from HKD 75,582,000 in the previous year, reflecting increased borrowing[33]. - Total assets increased to HKD 205,916 million in 2023 from HKD 160,749 million in 2022, representing a growth of approximately 28%[46]. - The total equity attributable to owners of the company rose to HKD 104,742 million in 2023 from HKD 84,677 million in 2022, an increase of approximately 24%[66]. - Trade receivables and warranty receivables totaled HKD 49,267,000 as of December 31, 2023, up from HKD 28,847,000 in 2022, indicating a 71.0% increase[112]. - The company’s contract assets related to permanent floating crane construction contracts amounted to HKD 83,394,000 as of December 31, 2023, after accounting for a loss provision of HKD 963,000[95]. - The total contract liabilities related to the company’s contracts were HKD 3,731,000 as of December 31, 2023, which includes liabilities from green energy contracts[95]. - The group’s debt-to-equity ratio as of December 31, 2023, was approximately 58.7%, compared to 56.3% as of December 31, 2022[151]. Revenue Sources - Revenue from major customers contributing over 10% to total revenue reached HKD 105,483 million in 2023, up from HKD 82,373 million in 2022, indicating a growth of about 28%[55]. - Revenue from continuing operations in Hong Kong decreased to HKD 141,121 million in 2023 from HKD 145,165 million in 2022, a decline of approximately 3%[79]. - The company's construction revenue for the year ended December 31, 2023, was HKD 192,185 thousand, an increase of 27.5% from HKD 150,805 thousand in 2022[80]. - The group recorded a significant decrease in other income from approximately HKD 1.0 million to HKD 3,000, primarily due to the absence of government subsidies received in the previous year[142]. Expenses and Financial Management - The financial cost for the year was HKD 2,771,000, an increase from HKD 2,358,000 in 2022, indicating higher financing expenses[9]. - The group's income tax expense for continuing operations was HKD 5,735 million in 2023, compared to HKD 4,642 million in 2022, reflecting an increase of about 23%[60]. - The company reported a significant increase in administrative expenses, which rose to HKD 24,267 thousand in 2023 from HKD 17,702 thousand in 2022[83]. - The group’s net financial costs increased from approximately HKD 2.4 million for the year ended December 31, 2022, to approximately HKD 2.8 million for the current year, primarily due to increased borrowings[167]. - The group has adopted a prudent financial management strategy to maintain a healthy liquidity position throughout the year[151]. Business Strategy and Future Plans - The company plans to expand its green energy business, focusing on the development and sales of renewable energy generation and storage systems[14]. - The group plans to develop a power spot trading system and diversify its renewable energy business, indicating potential future financing needs to support operational expenditures[140]. - The company plans to closely monitor market conditions and adjust its business strategies to ensure sustainable development in the permanent floating crane business[122]. - The group plans to continue focusing on expanding its green energy business, which reported revenue of HKD 217 thousand in 2023[81]. Corporate Governance and Reporting - The group has confirmed assets and liabilities related to customer contracts, with total contract assets of HKD 83,394,000 and total contract liabilities of HKD 3,731,000 as of December 31, 2023[95]. - The audit committee, consisting of three independent non-executive directors, has reviewed the audited year-end performance and reached a consensus with the company's auditors[188]. - The annual report for the year will be sent to shareholders and published on the stock exchange and the company's website at an appropriate time[190].
益美国际控股(01870) - 2023 - 年度业绩