Financial Performance - Tianjin Port Development's revenue increased by 3.6% to approximately HKD 13,479,800,000, contributing HKD 153,300,000 in profit, a 119.3% increase year-on-year[8] - The water supply company reported a revenue decrease of 4.8% to approximately HKD 311,300,000, but profit increased by 20.3% to HKD 16,000,000 due to improved operating margins[11] - Tianjin Teda Electric Power's revenue was approximately HKD 2,504,500,000, a 3% decrease, while profit increased by 5.4% to HKD 63,000,000[14] - The pharmaceutical segment's revenue decreased by 3.1% to approximately HKD 1,441,400,000, with a profit of HKD 370,100,000, significantly boosted by a one-time gain from land sales[15][16] - Otis Elevator (China) reported revenue of approximately HKD 20,629,400,000, a 17.6% decrease, with profit remaining stable at HKD 325,300,000[18] - The Courtyard by Marriott hotel saw a revenue increase of 67.8% to approximately HKD 130,400,000, with an average occupancy rate of 83.2%[19] - The electromechanical business reported a revenue of approximately HKD 166,800,000, down from HKD 281,400,000, resulting in a loss of HKD 35,500,000[19] - Revenue for the year ended December 31, 2023, was approximately HKD 3,338,429,000, a decrease of 10% from HKD 3,705,129,000 in 2022[22] - Profit attributable to owners of the company was approximately HKD 635,634,000, an increase of 77% compared to HKD 358,162,000 in 2022[22] - Basic earnings per share increased to HKD 0.5925 from HKD 0.3339, representing a growth of 77%[24] - The company reported a total revenue of 3,705,129 million, with a year-on-year increase of 32,634 million[50] - The company's total revenue for the year reached HKD 6,826,722,000, an increase from HKD 6,743,298,000 in the previous year, representing a growth of approximately 1.23%[66] Investments and Acquisitions - Tianjin Lisheng Pharmaceutical Co., Ltd. agreed to sell its 15% stake in Tianjin Pharmaceutical Group Finance Co., Ltd. for RMB 87,823,860[2] - The company acquired a 65% stake in Qingshunkangyuan Group for RMB 136,991,855, focusing on traditional Chinese medicine and e-commerce platforms[4] - The investment in Binhai Investment Co., Ltd. had a market value of approximately HKD 79,300,000 as of December 31, 2023, down from HKD 86,500,000 in the previous year, reflecting an unrealized loss of HKD 7,200,000[80] - The investment in Tianjin Pharmaceutical Group Co., Ltd. was valued at approximately HKD 1,587,100,000, an increase from HKD 1,072,300,000 in the previous year, with a fair value gain of about HKD 514,800,000 recognized in other comprehensive income[81] - The company has a 12.15% equity interest in Tianjin Tasly Holding Group Co., Ltd., which is a passive investment and not intended for sale in the foreseeable future[81] - The company’s investment in Tianjin Tasly Holding Group Co., Ltd. is classified as a non-core passive investment, primarily held by its wholly-owned subsidiary[81] Dividends and Shareholder Returns - The proposed final dividend is HKD 0.0880 per share, leading to a total annual dividend of HKD 0.1225 per share, which is a 37% increase from HKD 0.0895 in 2022[22] - The board proposed a final dividend of HKD 0.088 per share for the year ended December 31, 2023, compared to HKD 0.055 per share in 2022, resulting in a total annual dividend of HKD 0.1225 per share, up from HKD 0.0895 per share in 2022[102] Operational Efficiency and Future Outlook - The company reported a significant increase in net profit margin, reflecting improved operational efficiency[24] - User data showed a growth in active users, contributing to the overall revenue increase despite the decline in total revenue[24] - Future outlook indicates a focus on market expansion and potential acquisitions to drive growth[22] - The company is investing in new product development and technology enhancements to stay competitive in the market[22] - The company plans to continue leveraging its existing resources while exploring new strategic initiatives to enhance shareholder value[22] - The group plans to actively participate in the deepening reform of state-owned enterprises in Tianjin and seize new opportunities while maintaining stable progress in existing businesses[95] - The outlook for 2024 indicates that the global economic recovery will be uneven, with ongoing uncertainties, but the long-term positive trend of the Chinese economy remains unchanged[93] - Future outlook remains positive with strategic investments planned in new technologies and market expansion initiatives[44] Financial Position and Risk Management - The financial position remains strong with total assets of HKD 22,292,679,000, up from HKD 21,266,227,000 in the previous year[30] - The total accounts receivable (net of provisions) amounted to HKD 1,390,103,000, compared to HKD 1,371,974,000 last year, indicating a slight increase of about 1.32%[71] - The company reported a total of HKD 1,718,809,000 in accounts payable, compared to HKD 1,563,986,000 in the previous year, showing an increase of approximately 9.93%[73] - The company’s accounts payable aging analysis shows a total of HKD 1,390,103,000, with significant amounts due within 30 days[71] - As of December 31, 2023, the total cash and bank loans of the group were approximately HKD 6,604,700,000 and HKD 1,810,600,000, respectively, compared to HKD 6,338,500,000 and HKD 1,564,600,000 in 2022[96] - The group’s debt-to-equity ratio as of December 31, 2023, was approximately 14.4%, up from 13% in 2022[96] - The group has pledged restricted bank deposits of HKD 216,900,000 as collateral for general bank credit facilities as of December 31, 2023, compared to HKD 178,900,000 in 2022[100] - The group’s financial risk management aims to mitigate the impact of interest rate and exchange rate fluctuations on its overall financial condition[97] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules, except for the absence of the chairman at the annual general meeting held on June 21, 2023[106] - The audit committee consists of four independent non-executive directors and has reviewed the financial statements for the year ending December 31, 2023[112] - The company plans to adopt new articles of association to align with the latest legal and regulatory requirements, allowing for hybrid meetings[110] - The company will issue a circular detailing proposed amendments to the existing articles of association for shareholder approval at the upcoming annual general meeting[109] - Deloitte has agreed to the figures presented in the preliminary performance announcement for the year ending December 31, 2023[113] - The board will continue to monitor and review the company's corporate governance practices and make appropriate changes as deemed necessary[107] - The company has established strict written guidelines for senior management and specific individuals who may have access to sensitive information regarding the company's securities[108] Share Transactions - The company will suspend the transfer of shares from June 7, 2024, to June 13, 2024, to determine eligibility for the annual general meeting[103] - No shares were purchased, sold, or redeemed by the company or its subsidiaries for the year ending December 31, 2023[105] - The group employed approximately 2,376 staff as of December 31, 2023, a decrease from 2,390 in 2022[98]
天津发展(00882) - 2023 - 年度业绩