Financial Performance - The profit attributable to shareholders for the year ended December 31, 2023, was HKD 113.7 million, a decrease from HKD 155.4 million in 2022[1][7] - Total revenue for the year was HKD 3,306.9 million, down from HKD 3,515.4 million in the previous year, representing a decline of approximately 5.9%[7] - The basic earnings per share for the year ended December 31, 2023, is HKD 0.37, down from HKD 0.50 in 2022, representing a decrease of 26%[21] - The group reported a profit attributable to shareholders of HKD 113,662 for 2023, down from HKD 154,043 in 2022, reflecting a decrease of 26%[26] - The company reported a profit of HKD 2,461,803,000 for 2023, compared to HKD 2,690,244,000 in 2022, indicating a decrease in profitability[43] Revenue Breakdown - Total revenue from customer contracts for 2023 is HKD 3,306,882, a decrease of 6% from HKD 3,515,405 in 2022[31] - Revenue from garment manufacturing and trading is HKD 3,189,702, down from HKD 3,416,838 in 2022, indicating a decline of 7%[15] - Revenue from property investment and development is HKD 117,180, an increase from HKD 98,567 in 2022, showing a growth of 19%[15] - In 2023, revenue from China was HKD 1,945,008,000, accounting for 58.8% of total revenue, a decrease of 4.7% from HKD 2,040,184,000 in 2022[53] - Total revenue for 2023 was HKD 3,306,882,000, down from HKD 3,515,405,000 in 2022, reflecting a decline in sales from the US and Europe[62] Assets and Liabilities - The company reported a net asset value per share of HKD 10.12[3] - The total assets decreased to HKD 6,349.9 million from HKD 6,227.6 million in the previous year[9][10] - The company’s long-term bank loans decreased to HKD 742.1 million from HKD 1,151.6 million in the previous year[10] - Non-current liabilities to shareholders' equity ratio stood at 36.9%, while the current ratio was 1.1[3] - The ratio of non-current liabilities to shareholders' equity improved to 36.9% as of December 31, 2023, from 50.2% a year earlier[114] Cash Flow and Expenses - The company’s cash and cash equivalents decreased to HKD 557.7 million from HKD 611.3 million in the previous year[9] - The company's total cash and cash equivalents, short-term bank deposits, and other financial assets amounted to HKD 875.4 million as of December 31, 2023, down from HKD 1.0652 billion a year earlier[113] - The total cost of loans for 2023 was HKD 86,545,000, which includes capitalized amounts of HKD 5,839,000, compared to HKD 44,167,000 in 2022[42] - The company’s total tax expense for 2023 was HKD 30,220,000, an increase from HKD 27,210,000 in 2022[64] - The company maintained an administrative expense ratio of 9.0% of total revenue in 2023, while selling and distribution expenses increased from 6.0% in 2022 to 6.7% in 2023[79] Dividends - The proposed final dividend is HKD 0.12 per share, with a total annual dividend of HKD 0.155 per share[21] - The board proposed a final dividend of HKD 0.12 per share for the year ending December 31, 2023, unchanged from the previous year[122] - The final dividend is subject to approval at the upcoming shareholders' meeting scheduled for June 3, 2024[122] - The company will suspend share transfer registration from June 13 to June 14, 2024, to determine eligible shareholders for the dividend[123] Strategic Initiatives - The company aims to lead sustainable development in the fashion industry through product innovation and the establishment of a five-year sustainability goal[3] - The company plans to invest more resources in artificial intelligence technology to enhance business processes and drive growth[51] - The company aims to continue expanding into high-potential emerging markets and promote digital transformation in garment manufacturing[21] - The company aims to expand its sales network in Southeast Asia, which accounted for 15.8% of total revenue in 2023, up from 12.0% in 2022[53] - The company plans to enhance its sustainable development initiatives by establishing an Environmental, Social, and Governance (ESG) Supervisory Committee[76] Operational Highlights - The "Rui Chuang World" industrial park phase II has been completed, providing a stable cash flow and enhancing the company's long-term development platform[5] - The company invested approximately HKD 81.6 million in machinery, equipment, and renovations to enhance production efficiency and environmental compliance[89] - The company has unrecognized capital expenditure commitments of HKD 375.7 million for property, machinery, and construction projects as of December 31, 2023[90] - The company continues to optimize its property investment and development portfolio to attract quality partners and generate stable income[81] - The company is actively participating in industry summits to share experiences and advanced technologies in promoting green fashion, demonstrating its commitment to sustainable development[110] Employee and Talent Development - The company emphasizes talent development as a priority, aiming to attract professionals from various fields to enhance competitiveness in the fashion industry[22] - The company employed approximately 5,000 employees as of December 31, 2023, consistent with the number from December 31, 2022[116] Financial Instruments and Valuation - The fair value change of derivative financial instruments resulted in a loss of HKD 12,027, compared to a gain of HKD 589 in the previous year[35] - The fair value increase of investment properties was HKD 10,449, compared to a gain of HKD 69,477 in 2022[35] Accounts Receivable - The company reported accounts receivable of HKD 633 million, an increase from HKD 551 million in the previous year[73]
达利国际(00608) - 2023 - 年度业绩