Workflow
大同集团(00544) - 2023 - 年度业绩
DAIDO GROUPDAIDO GROUP(HK:00544)2024-03-27 08:42

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 298,386,000, an increase of 9.2% compared to HKD 273,308,000 in 2022[3] - Revenue from food and beverage trading and sales increased significantly to HKD 67,551,000, up 94.8% from HKD 34,680,000 in the previous year[3] - Gross profit for the year was HKD 51,876,000, a decrease of 12.9% from HKD 59,524,000 in 2022[3] - Profit before tax rose to HKD 15,233,000, compared to HKD 4,760,000 in the previous year, marking an increase of 219.5%[4] - Total comprehensive income for the year was HKD 14,897,000, up from HKD 3,560,000 in 2022, representing a 318.5% increase[4] - Basic and diluted earnings per share increased to HKD 1.96, compared to HKD 1.64 in the previous year, reflecting a growth of 19.5%[4] - Total revenue for the year ended December 31, 2023, was HKD 298,125,000, an increase from HKD 273,042,000 in 2022, representing a growth of approximately 9.5%[22] - The group reported a pre-tax profit of HKD 15,233,000 for the year ended December 31, 2023, compared to HKD 4,760,000 in the previous year, indicating a significant increase in profitability[20] - Profit attributable to equity holders for the year ended December 31, 2023, was approximately HKD 5.7 million, up 18.8% from HKD 4.8 million in 2022[34] - The food and beverage trading and sales business turned from a loss to a profit, with revenue increasing by approximately 100.6% compared to 2022[34] Assets and Liabilities - Non-current assets decreased to HKD 81,939,000 from HKD 146,279,000 in 2022, a decline of 44.0%[6] - Current assets increased to HKD 170,599,000, up from HKD 118,927,000 in 2022, representing a growth of 43.5%[6] - The company reported a net current liability of HKD 25,136,000, compared to HKD 21,581,000 in the previous year[6] - Total equity increased to HKD 20,849,000 from HKD 18,676,000 in 2022, an increase of 11.7%[8] - Trade receivables from third parties decreased to HKD 44.5 million in 2023 from HKD 53.2 million in 2022[30] - The current ratio improved slightly to 0.87 in 2023 from 0.85 in 2022[52] - The debt-to-asset ratio decreased significantly to 167.9% in 2023 from 612.4% in 2022, indicating improved financial stability[52][53] Income and Revenue Sources - Revenue from cold storage and related services was HKD 230,574,000, while food and beverage trading and sales generated HKD 67,551,000 for the year ended December 31, 2023[20] - The group’s total income from customer contracts under HKFRS 15 was HKD 298,125,000 for 2023, compared to HKD 273,042,000 in 2022, showing an increase of approximately 9.2%[22] - The group’s income from logistics services was HKD 25,875,000 for the year ended December 31, 2023, slightly down from HKD 26,468,000 in 2022[22] - The group’s total other income for the year was HKD 10,088,000, compared to HKD 9,712,000 in the previous year, reflecting a modest increase[24] - The group recognized government subsidies of approximately HKD 97,000,000 related to COVID-19, a decrease from HKD 4,114,000 in 2022[24] Strategic Initiatives - The group’s management has reclassified the loan services segment as a non-reportable segment, reflecting a strategic shift in resource allocation towards more profitable divisions[17] - The group plans to optimize its food and beverage distribution business in mainland China by focusing on high-margin wholesale channels[46] - The group has ceased non-core B2C operations in mainland China and Hong Kong to reallocate resources to higher-margin segments[40] - The group is implementing strict cost control measures to maintain profitability in the food and beverage segment[40] - The group aims to enhance operational efficiency and comply with environmental standards through upgrades to its facilities[45] - The group is actively seeking high-margin overseas products for trade in mainland China and vice versa[46] - The group recognizes the impact of macroeconomic conditions and is adjusting its strategies to mitigate market risks[42] - The logistics and frozen warehouse segment is expected to grow as industry standards for services increase, attracting more potential investors[45] Governance and Compliance - The company has adopted the corporate governance code and has not appointed a chairman as of December 31, 2023, which deviates from the governance code requirements[67] - The audit committee consists of three independent non-executive directors and has reviewed the audited consolidated financial statements for the year[71] - The company’s financial statements for the year ended December 31, 2023, have been agreed upon by its auditors, confirming the figures presented[72] - The company plans to continue reviewing its board structure and appoint suitable candidates for the chairman role if necessary[68] - The company has a written securities trading policy that all directors confirmed compliance with during the year[69] Employee and Operational Metrics - As of December 31, 2023, the total number of full-time employees in Hong Kong and mainland China was approximately 170 and 30, respectively, compared to 180 and 40 in 2022[63] - The total employee-related costs for the year ended December 31, 2023, amounted to approximately HKD 66,095,000, down from HKD 69,455,000 in 2022[63] Dividends and Share Capital - The company did not declare any dividends for the current year, consistent with the previous year[29] - The board of directors did not recommend the payment of dividends for the year ended December 31, 2023, consistent with the previous year[65] - The total issued share capital remained unchanged at HKD 2,901,104, divided into 290,110,400 ordinary shares as of December 31, 2023[58] Miscellaneous - The company sold a non-operating subsidiary during the year, with no other significant acquisitions or disposals reported[59] - The company has no specific future plans for significant investments or capital assets as of December 31, 2023[61] - There were no contingent liabilities reported for the year ending December 31, 2023[62] - The company has maintained stable rental costs for its cold storage operations, which remain a major cost item[37] - The company aims to diversify its customer base to meet the growing demand for warehousing and logistics services[36] - The company has noted an increasing demand for warehousing and logistics services from food grocery distributors and supermarkets during the pandemic[36] - The company recorded a net loss from foreign exchange of HKD 97, compared to a loss of HKD 222 in 2022[6] - Financial expenses decreased to HKD 10.1 million in 2023 from HKD 13.6 million in 2022[7] - Cash and bank balances increased to approximately HKD 62 million in 2023 from HKD 60.4 million in 2022, primarily due to increased cash generated from operations[53] - The company has no significant foreign exchange risk and did not use any financial instruments for hedging purposes in 2023[57] - The annual report containing all required information will be sent to shareholders and published on the company's website at an appropriate time[73]