Financial Performance - Revenue for the year ended December 31, 2023, was HKD 496,631,000, representing a 29.7% increase from HKD 382,786,000 in 2022[3] - Gross profit for the same period was HKD 106,908,000, up from HKD 97,538,000, indicating a growth of 11.4%[3] - Profit before tax increased to HKD 67,806,000, a rise of 30.9% compared to HKD 51,804,000 in the previous year[3] - Net profit for the year was HKD 56,958,000, which is a 31.3% increase from HKD 43,404,000 in 2022[3] - Basic and diluted earnings per share were both HKD 5.7, compared to HKD 4.3 in the prior year, reflecting a 32.6% increase[3] - The company reported a profit attributable to owners of the company of HKD 57,003,000 for the year ended December 31, 2023, compared to HKD 43,404,000 in 2022, representing a year-over-year increase of approximately 31.2%[30] - The group’s net profit for fiscal year 2023 reached approximately HKD 57.0 million, representing an increase of about HKD 13.6 million or 31.3% from HKD 43.4 million in fiscal year 2022[58] Dividends - The board recommended a final dividend of HKD 2.0 per share for the year ended December 31, 2023[3] - The company declared an interim dividend of HKD 0.015 per share for 2023, amounting to HKD 15,000,000, while the proposed final dividend is HKD 0.020 per share, totaling HKD 20,000,000, compared to HKD 18,000,000 in 2022[29] - The board proposed a final dividend of HKD 0.02 per share for the year 2023, totaling HKD 20.0 million, with a dividend payout ratio of approximately 35.1%[75] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 446,003,000, compared to HKD 391,938,000 in 2022, showing an increase of 13.8%[6] - Current liabilities increased to HKD 168,598,000 from HKD 108,501,000, representing a 55.5% rise[6] - The company's total equity as of December 31, 2023, was HKD 313,567,000, up from HKD 289,609,000 in 2022, indicating an 8.3% increase[6] - The company's total trade and other payables decreased slightly to HKD 55,552,000 in 2023 from HKD 52,185,000 in 2022, reflecting a decrease of about 6.8%[36] - As of December 31, 2023, the group had no bank borrowings, resulting in an asset-liability ratio of zero[61][62] Revenue Sources - Revenue from design and construction projects amounted to HKD 477.534 million in 2023, up from HKD 362.642 million in 2022, reflecting a growth of 31.7%[23] - Major customer I contributed HKD 339.204 million in revenue for 2023, significantly higher than HKD 171.326 million in 2022, representing a growth of 97.9%[21] - Major customer II generated HKD 137.610 million in revenue for 2023, slightly up from HKD 133.861 million in 2022, indicating a growth of 2.1%[21] Expenses - The cost of inventory recognized as expenses was HKD 158.092 million in 2023, compared to HKD 130.666 million in 2022, an increase of 20.9%[24] - Employee benefit expenses, including director remuneration, totaled HKD 70.631 million in 2023, up from HKD 67.644 million in 2022, reflecting a growth of 4.9%[24] - Administrative and other operating expenses decreased by approximately HKD 5.5 million or 11.1% to about HKD 44.0 million in fiscal year 2023, primarily due to reduced employee benefits expenses[55] - The total employee benefit expenses for the year 2023 amounted to approximately HKD 70.6 million, up from HKD 67.6 million in 2022, primarily due to an increase in average employee compensation[69] Taxation - The company’s income tax expense for the year was HKD 10,800,000, up from HKD 8,397,000 in 2022, marking an increase of approximately 28.6%[26] - The group’s tax expense for fiscal year 2023 was approximately HKD 10.8 million, with an effective tax rate of about 15.9%[56] - The company’s tax rate for Hong Kong profits tax is 16.5%, with a lower rate of 8.25% applicable to the first HKD 2,000,000 of taxable profits for qualifying subsidiaries[26] Business Development - The company has entered into an agreement to acquire exclusive mining rights for a coal mine in Mongolia to diversify its business and enhance capital returns[7] - The company has entered into an exclusive purchase rights agreement for a coal mine in Mongolia, with a payment of RMB 27,000,000 (approximately HKD 29,363,000) made for mining rights[34] - The group plans to commence operations in the newly acquired mining business in the first half of fiscal year 2025, which is expected to provide stable cash flow[53] - The group aims to capture opportunities in both public and private sector projects following the Hong Kong government's initiatives to stimulate economic growth[53] Accounting and Compliance - The group has adopted new accounting standards effective from January 1, 2023, which do not significantly impact the measurement or presentation of items in the financial statements[14] - The group is currently evaluating the potential impact of newly issued accounting standards on its performance and financial position for the first application year[19] - The audit committee reviewed the consolidated financial statements for the fiscal year 2023, confirming consistency with the figures in the audited financial statements[85] - The company maintained compliance with the minimum public float requirements as per listing rules throughout the fiscal year 2023[83] Employee and Workforce - The group maintained a total of 108 employees as of December 31, 2023, unchanged from the previous year[69] Other Information - There were no significant acquisitions or disposals of subsidiaries, joint ventures, or associates during the year 2023[66] - The group had no significant contingent liabilities as of December 31, 2023[68] - The group had no capital commitments as of December 31, 2023[64] - There were no major events after the fiscal year that would significantly impact the group[70]
信越控股(06038) - 2023 - 年度业绩