Financial Performance - Revenue for the year ended December 31, 2023, was HKD 948,683,000, a decrease of 1.3% from HKD 966,288,000 in 2022[4] - Gross profit increased to HKD 58,021,000, up 21.4% from HKD 47,834,000 in the previous year[4] - Profit before tax decreased to HKD 18,590,000, down 18.3% from HKD 22,786,000 in 2022[4] - Net profit attributable to owners of the company was HKD 14,060,000, a decline of 30.8% compared to HKD 20,326,000 in the prior year[4] - Basic earnings per share decreased to HKD 0.38 from HKD 0.61, representing a drop of 37.7%[4] - The company reported a total comprehensive income of HKD 20,326,000 for the year ended December 31, 2022, and HKD 14,060,000 for the year ended December 31, 2023[7] - The profit attributable to equity shareholders was approximately HKD 14.1 million, down from HKD 20.3 million in the same period of 2022[59] Assets and Liabilities - Total assets decreased to HKD 150,619,000 from HKD 121,258,000, indicating a growth of 24.2%[6] - Current liabilities decreased to HKD 179,699,000 from HKD 200,723,000, a reduction of 10.5%[6] - Non-current liabilities increased to HKD 49,340,000 from HKD 41,949,000, an increase of 17.1%[6] - Total assets as of December 31, 2023, amounted to HKD 330,318,000, a decrease from HKD 321,981,000 in 2022[28] - Total liabilities as of December 31, 2023, were HKD 229,039,000, compared to HKD 242,672,000 in 2022, indicating a reduction in liabilities[28] - The company's asset-liability ratio improved to approximately 0.9 times as of December 31, 2023, compared to 1.4 times in 2022[83] Equity and Retained Earnings - The company's equity attributable to owners increased to HKD 101,279,000 from HKD 79,309,000, a rise of 27.7%[6] - The total equity increased from HKD 58,983,000 on January 1, 2022, to HKD 101,279,000 by December 31, 2023, reflecting a growth of approximately 71.5%[7] - The retained earnings rose significantly from HKD 12,570,000 at the beginning of 2022 to HKD 46,956,000 by the end of 2023, indicating an increase of about 273.5%[7] Revenue Breakdown - Revenue from cleaning services increased to HKD 816,330,000 in 2023, up 3.1% from HKD 786,807,000 in 2022[20] - Revenue from pest management services decreased significantly to HKD 24,111,000 in 2023, down 61.3% from HKD 62,381,000 in 2022[21] - Waste management and recycling services revenue fell to HKD 101,381,000 in 2023, a decline of 12.8% from HKD 116,278,000 in 2022[21] - New revenue streams from car sales and leasing amounted to HKD 6,120,000 in 2023, indicating diversification efforts[21] Expenses and Costs - Administrative expenses increased to HKD 37,343,000 in 2023 from HKD 34,577,000 in 2022[26] - Financing costs rose to HKD 5,864,000 in 2023, compared to HKD 4,507,000 in 2022[26] - Service costs reduced by about 3.0% to approximately HKD 890.7 million, compared to HKD 918.5 million in 2022[59] Cash Flow and Liquidity - The company’s cash and bank balances stood at HKD 72,277,000 as of December 31, 2023, compared to HKD 21,084,000 in 2022, showing a significant increase in liquidity[28] - As of December 31, 2023, the group maintained a net cash position with total bank borrowings of approximately HKD 54.7 million, down from HKD 78.5 million in 2022[74] - The current ratio improved to approximately 1.3 times, compared to 1.1 times in the previous year, indicating better liquidity management[74] Future Plans and Market Outlook - The company plans to focus on market expansion and new product development in the upcoming year[2] - The company plans to continue focusing on expanding its cleaning and waste management services in the Hong Kong market[25] - The company aims to secure more tender contracts from government departments and private organizations that currently do not use its services[56] - The company is optimistic about the future of the environmental hygiene service industry due to increasing public awareness of hygiene and health[58] Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes as of December 31, 2023[85] - The audit committee confirmed that the annual performance complies with applicable accounting standards and GEM listing rules[100] - The group has disclosed its financial results in accordance with the relevant legal requirements[104] Dividends and Shareholder Information - The company did not declare or propose any dividends for the year ended December 31, 2023, consistent with 2022[37] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2023, consistent with the previous year[96] - The next annual general meeting is scheduled for May 7, 2024, with a notice to be published in due course[97]
立高控股(08472) - 2023 - 年度业绩