WING ON CO(00289) - 2022 - 年度业绩

Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 1,041,028, a decrease of 7.8% from HKD 1,129,277 in 2021[3] - Operating profit for the year was HKD 170,619, down 64.6% from HKD 481,868 in the previous year[3] - The company reported a net loss of HKD 301,613 for the year, compared to a profit of HKD 552,641 in 2021, marking a significant decline[4] - The basic and diluted loss per share was HKD 103.3 cents, compared to earnings of HKD 189.4 cents per share in the prior year[3] - Total comprehensive loss for the year amounted to HKD 522,314, compared to a total comprehensive income of HKD 379,863 in 2021[4] - The company's revenue from department store operations decreased to HKD 603,748,000 in 2022 from HKD 658,601,000 in 2021, representing a decline of approximately 8.3%[10] - The total rental income from investment properties was HKD 379,614,000 in 2022, down from HKD 411,750,000 in 2021, indicating a decrease of about 7.8%[10] - The reported segment revenue for 2022 was HKD 1,151,989,000, a decrease of 7% from HKD 1,238,765,000 in 2021[14] - The segment profit for the department business was HKD 427,980,000 in 2022, down from HKD 461,179,000 in 2021, reflecting a decline of approximately 7%[14] - The company reported a loss attributable to shareholders of HKD 300,946,000 for 2022, compared to a profit of HKD 552,495,000 in 2021, resulting in a basic loss per share of HKD 103.3, down from HKD 189.4 in the previous year[27] Asset and Equity Changes - Non-current assets decreased to HKD 15,704,796 from HKD 16,381,429, indicating a decline of 4.1%[5] - Current assets included cash and cash equivalents of HKD 1,562,081, down from HKD 2,544,963 in the previous year[5] - The company's total assets less current liabilities were HKD 19,477,146, a decrease from HKD 20,196,972 in 2021[5] - As of December 31, 2022, the total equity attributable to shareholders was HKD 18,553,535,000, a decrease from HKD 19,216,319,000 as of December 31, 2021, reflecting a decline of approximately 3.4%[6] - Total assets reported for 2022 were HKD 15,367,668,000, a decrease of 4% from HKD 16,006,005,000 in 2021[16] - Shareholders' equity decreased by 3.4% to HKD 18,553.5 million as of December 31, 2022, from HKD 19,216.3 million in 2021[37] Income and Expenses - Other income increased significantly to HKD 103,297 from HKD 44,327 in the previous year, reflecting a growth of 133.3%[3] - The company’s total tax expense for 2022 was HKD 89,096,000, a decrease from HKD 128,351,000 in 2021, with the current year tax provision for Hong Kong profits tax at HKD 45,490,000[24] - The company’s financial expenses decreased to HKD 1,068,000 in 2022 from HKD 2,070,000 in 2021, a reduction of approximately 48%[15] - The company reported a net loss from fair value adjustments of financial instruments amounting to HKD 259,475,000 in 2022, compared to a gain of HKD 22,221,000 in 2021[21] Dividends and Share Repurchase - The company declared dividends totaling HKD 99,097,000 for the year, compared to HKD 210,019,000 for the previous year, reflecting a significant reduction in dividend payouts[7] - The company proposed a final dividend of HKD 0.15 per share for 2022, compared to HKD 0.46 per share in 2021, with total proposed dividends amounting to HKD 218,199,000, down from HKD 233,145,000[25] - The company repurchased shares amounting to HKD 7,056,000 during the year, contributing to the overall decrease in equity[6] - The company repurchased a total of 477,000 shares during the year ended December 31, 2022, at a total cost of HKD 7,075,000[49] Operational Insights - The company operates in two segments: department store operations and property investment, with no single customer accounting for more than 10% of total revenue[12] - The overall occupancy rate of the group's commercial properties in Hong Kong dropped to 92% in 2022 from 94% in 2021[43] - The group plans to continue enhancing its core business and seek expansion opportunities to improve profitability[36] - The group expects gradual improvement in department store performance in 2023 as social and economic activities in Hong Kong recover, although full recovery to pre-COVID-19 levels will take time[47] - The group had a total of 551 employees as of December 31, 2022, down from 600 in 2021, with no significant changes to compensation and benefits policies[46] Future Outlook - The company plans to renovate its store on Nathan Road in Yau Ma Tei to enhance customer shopping experience and offer a wider variety of products and services[47] - The group recorded a share of the joint venture's post-tax loss of HKD 18.1 million in the automotive dealership business in China for 2022, compared to a profit of HKD 14.7 million in 2021[44] - The group incurred an investment loss of HKD 206.4 million in 2022, compared to a gain of HKD 90.2 million in 2021, primarily due to negative returns from securities and bonds[45] Reporting and Compliance - The company has not adopted any new accounting standards that would have a significant impact on the financial statements for the current period[9] - The company will hold its 2023 Annual General Meeting on June 13, 2023[51] - The 2022 annual report will be published on the Stock Exchange's website later[52]