Financial Performance - The group reported a consolidated revenue of HKD 380,630,000 for the year ended December 31, 2023, a decrease of 39.5% compared to HKD 628,672,000 in the previous year[5]. - The gross profit was HKD 43,499,000, with a gross margin of 11.4%, down from HKD 47,418,000 in the previous year[5]. - The net loss for the year was HKD 172,132,000, an improvement from a loss of HKD 213,452,000 in the same period last year[4]. - The company reported a pre-tax loss of HKD 168,520,000 for the year ended December 31, 2023, compared to a loss of HKD 219,453,000 in the previous year, representing a 23.2% improvement[49]. - The company experienced a total comprehensive loss of HKD 199,033,000 for the year, down from HKD 299,647,000 in the prior year, indicating a 33.5% reduction in overall losses[49]. - The group recorded a total segment profit (loss) of HKD (173,866,000), with significant losses in the PVC pipe segment[42]. - The basic and diluted loss per share for the year was HKD (21.80), an improvement from HKD (27.45) in the previous year[49]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2023[83]. Revenue Breakdown - Total revenue for the year was HKD 628,672,000, with customer contract revenue contributing HKD 621,628,000 and rental income of HKD 7,044,000[42]. - The total segment revenue for household products was HKD 62,602,000, while PVC pipes and fittings generated HKD 316,493,000[63]. - The revenue for PVC pipes and fittings was HKD 316,493,000, a decrease of 36.4% from HKD 497,440,000 last year, resulting in a loss of HKD 33,436,000 for this segment[87]. - The revenue for household products was HKD 62,602,000, a decline of 51.8% from HKD 129,959,000 last year, with a profit of HKD 4,813,000[106]. Assets and Liabilities - Trade and other payables increased to HKD 1,024,120,000 from HKD 899,013,000 year-on-year[26]. - The total assets less current liabilities decreased to HKD 1,958,340,000 from HKD 2,185,535,000 compared to the previous year[26]. - The net asset value of the group was HKD 1,451,396,000, down from HKD 1,642,880,000 in the previous year[26]. - Non-current assets decreased to HKD 1,924,725,000 from HKD 2,087,911,000 year-over-year, reflecting a decline of 7.8%[50]. - The total assets of the group as of December 31, 2023, amounted to HKD 3,056,413,000, a decrease from HKD 3,203,919,000 as of December 31, 2022[65]. - The current ratio as of December 31, 2023, was approximately 1.03, down from 1.10 on December 31, 2022[112]. - Total equity decreased by 11.7% to HKD 1,451,396,000 as of December 31, 2023, compared to HKD 1,642,880,000 the previous year[112]. Cash and Financial Position - The company reported a net cash position of HKD 636,149,000, an increase from HKD 587,074,000 in the previous year, showing a growth of 8.3%[50]. - As of December 31, 2023, the group had cash and bank deposits of approximately HKD 716,404,000, an increase from HKD 593,280,000 on December 31, 2022[111]. - The group recorded a financial cost of HKD 13,434,000 for the year[62]. - The group recorded a net foreign exchange gain of HKD 7,229,000 for the year, compared to HKD 44,613,000 in the previous year[70]. Operational Developments - The company is expecting the completion of the construction and renovation of the commercial property related to the "Huayang Nian Xuhui Haoshiguang Home" urban renewal project in Shenzhen by 2024[7]. - The group is considering the development of an industrial land of approximately 119 acres in Zhongshan, planning to relocate its PVC pipe production and sales operations from Dongguan to the new facility[8]. - The group is in discussions with the government regarding compensation details for land replacement related to a project in Shenzhen[109]. Corporate Governance - The company has adopted a set of guidelines for directors' securities trading that are not less stringent than those set out in the Listing Rules[17]. - The company has complied with the corporate governance code as per the listing rules during the fiscal year ending December 31, 2023[117]. - No purchases, sales, or redemptions of the company's listed securities were made during the fiscal year[116]. Employee and Compensation - The group employed approximately 536 staff as of December 31, 2023, down from 570 the previous year, with total employee compensation for the year amounting to HKD 51,600,000[115]. Reporting and Future Actions - The annual report for 2023 will be published on the company's website and sent to shareholders in printed form as soon as practicable[122]. - The company will suspend shareholder registration from June 7 to June 13, 2024, to prepare for the annual general meeting[116].
世界(集团)(00713) - 2023 - 年度业绩