Financial Performance - For the fiscal year ending December 31, 2023, China Healthwise Holdings Limited reported total revenue of HKD 146,317,000, an increase of 3% from HKD 142,058,000 in the previous year[2]. - The gross profit for the same period was HKD 60,294,000, representing a growth of 13.5% compared to HKD 53,270,000 in 2022[2]. - The company incurred a net loss of HKD 134,558,000 for the year, which is a significant increase from the net loss of HKD 54,274,000 in the prior year, reflecting a rise of 147%[3]. - The basic and diluted loss per share was HKD 17.46, compared to HKD 7.04 in the previous year, indicating a deterioration in earnings performance[3]. - Total comprehensive loss for the year amounted to HKD 134,251,000, up from HKD 54,415,000 in 2022, marking an increase of 147%[3]. - The company reported a pre-tax loss of HKD 118,243,000, compared to a loss of HKD 45,883,000 in the previous year, indicating a deterioration in financial performance[25]. - The net loss for the fiscal year ending December 31, 2023, was approximately HKD 135.5 million, compared to a loss of HKD 54 million in the previous fiscal year[50]. - The group recorded a loss attributable to shareholders of approximately HKD 135 million, compared to about HKD 54 million in the fiscal year 2022[71]. Assets and Liabilities - The company's total assets decreased to HKD 139,655,000 from HKD 275,017,000 in the previous year, indicating a decline of 49%[5]. - Current liabilities increased to HKD 142,953,000, up from HKD 74,756,000, reflecting an increase of 91%[5]. - The group's total equity as of December 31, 2023, was HKD 4.398 million, a significant decrease from HKD 138.649 million in 2022[10]. - Total liabilities increased to HKD 149,010,000 from HKD 145,272,000, showing a rise in financial obligations[26]. - The total non-current liabilities decreased from HKD 74.254 million in 2022 to HKD 2.319 million in 2023, indicating a significant reduction[10]. - The asset-to-liability ratio was approximately 25.25% as of December 31, 2023, compared to 0.73% as of December 31, 2022[81]. Cash Flow and Financial Condition - Cash and cash equivalents decreased to HKD 14,421,000 from HKD 16,850,000, a decline of 14.4%[5]. - The group plans to actively collect receivables to improve cash flow and financial condition[10]. - The board believes that the cash flow generated from operations will be sufficient to meet the business's funding needs and repay outstanding debts[10]. - The group’s cash and bank balances decreased to approximately HKD 14 million as of December 31, 2023, down from HKD 17 million as of December 31, 2022[81]. Revenue Segments - The revenue from the Chinese medicine health products segment was a significant contributor to the overall income, with no inter-segment sales reported[23]. - The lending business segment generated revenue of HKD 10,656 thousand, down from HKD 14,628 thousand in the previous year, reflecting a decrease[22]. - The investment financial instruments segment reported a revenue of HKD 6,138 thousand, compared to a loss of HKD 945 thousand in the previous year, indicating a recovery[22]. - The Chinese medicine health products segment generated revenue of approximately HKD 130 million, up from about HKD 128 million in the previous fiscal year, contributing a segment profit of approximately HKD 3 million[53]. - The investment financial instruments segment's revenue improved from a loss of approximately HKD 1 million in the fiscal year 2022 to a gain of approximately HKD 6 million in the reporting year[66]. Impairment and Credit Losses - The company reported a significant impairment loss of HKD 107,469,000 related to expected credit losses, compared to HKD 24,784,000 in the previous year[2]. - The expected credit loss provision increased by approximately HKD 82 million due to reclassification of receivables to Stage 3 (credit impaired) during the fiscal year[56]. - The expected credit loss provision for receivables increased to approximately HKD 294 million, up from HKD 187 million in 2022, representing an increase of about HKD 107 million[61]. - The carrying value of receivables from lending operations was HKD 311,313 thousand for the year ended December 31, 2023, down from HKD 320,800 thousand in 2022, with expected credit loss provisions of HKD (186,749) thousand in 2023 compared to HKD (294,218) thousand in 2022[40]. Cost Management - The company is implementing cost-saving measures to control administrative expenses and improve cash flow[10]. - Employee costs, including director remuneration, totaled HKD 42,418,000, indicating a rise in personnel expenses[28]. - The company’s general and administrative expenses were approximately HKD 38 million for the fiscal year ending December 31, 2023, unchanged from the previous fiscal year[70]. - The company incurred interest expenses of HKD 8,993,000, which includes HKD 5,533,000 related to unallocated costs[28]. Governance and Compliance - The company has adhered to all corporate governance guidelines as of December 31, 2023[83]. - The Audit Committee has reviewed the accounting principles and policies adopted by the group for the fiscal year ending December 31, 2023[87]. - There were no purchases, redemptions, or sales of any listed securities by the company or its subsidiaries during the fiscal year ending December 31, 2023[85]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[25]. - The overall financial outlook remains cautious due to the significant losses reported and the need for strategic adjustments moving forward[25]. - The group plans to enhance the promotion of health products, particularly traditional Chinese medicine, due to increasing demand driven by an aging population in Hong Kong[73]. - The online sales channel for traditional Chinese health products is expected to contribute stable revenue through platforms like "HKTVmall" in the fiscal year 2023[74].
中国智能健康(00348) - 2023 - 年度业绩