Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 4,678.6 million, a decrease of 17.8% compared to HKD 5,689.9 million in 2021[2] - Gross profit for the same period was HKD 663.7 million, down 17.9% from HKD 808.8 million in the previous year, maintaining a gross margin of 14.2%[2] - Profit attributable to owners of the company decreased by 22.6% to HKD 287.5 million from HKD 371.3 million in 2021[2] - Basic and diluted earnings per share were HKD 13.32, a decline of 22.6% compared to HKD 17.20 in the prior year[2] - The company reported a pre-tax profit of HKD 336.4 million, down from HKD 432.8 million in the previous year[3] - Other comprehensive income for the year included a loss of HKD 116.2 million, compared to a gain of HKD 31.9 million in 2021[17] - The group recorded a gross loss of HKD 1.0 million with a gross loss margin of 15.9%, compared to a gross profit of HKD 3.5 million and a gross profit margin of 15.6% in the previous year[103] - The group's total revenue decreased by HKD 1,011.3 million or 17.8% to HKD 4,678.6 million, down from HKD 5,689.9 million in the previous year[113] - The gross profit decreased by HKD 145.1 million or 17.9% to HKD 663.7 million, maintaining a stable gross profit margin of 14.2%[113] - The group's net profit for the year decreased by HKD 83.8 million or 22.6% to HKD 287.5 million, compared to HKD 371.3 million in the previous year[114] Revenue Breakdown - Revenue from interior decoration engineering in Hong Kong was HKD 1,734,484, while revenue from construction engineering was HKD 94,084, totaling HKD 1,834,531[29] - Revenue from interior decoration engineering contracts was HKD 4,605,440 in 2022, down from HKD 5,573,435 in 2021, indicating a decrease of about 17.4%[43] - Revenue from renovation and construction engineering contracts was HKD 66,863 in 2022, compared to HKD 94,084 in 2021, showing a decline of approximately 29.0%[43] - Revenue from the manufacturing, procurement, and distribution of interior decoration materials was HKD 22,429, contributing to the total revenue[29] - The group's revenue from the manufacturing, procurement, and distribution of interior decoration materials decreased by HKD 16.1 million or 71.9% to HKD 6.3 million, compared to HKD 22.4 million in the previous year[102] Assets and Liabilities - Total assets as of December 31, 2022, amounted to HKD 6,128.4 million, slightly down from HKD 6,322.2 million in 2021[5] - Current liabilities were HKD 3,433.5 million, compared to HKD 3,801.7 million in the previous year, indicating a reduction in short-term obligations[5] - The net current asset value increased to HKD 2,694.8 million from HKD 2,520.6 million in 2021[5] - The company’s non-current liabilities increased to HKD 3,259,266 in 2022 from HKD 3,231,290 in 2021, reflecting a rise of approximately 0.9%[19] - The company’s equity attributable to owners increased to HKD 3,247,628 in 2022, compared to HKD 3,227,338 in 2021, marking a growth of about 0.6%[19] - The company’s total liabilities related to notes payable were HKD 650.79 million in 2022, down from HKD 839.86 million in 2021, indicating a decrease of about 22.5%[88] Dividends and Shareholder Returns - The board recommended a final dividend of HKD 0.06 per share[2] - The company plans to distribute a final dividend of HKD 0.06 per share for the year, totaling HKD 129,493,000, down from HKD 151,075,000 in the previous year[72] - The group proposed a final dividend of HKD 0.06 per share, representing approximately 45% of the distributable profits for the year[115] Market Outlook and Strategy - The company has plans for market expansion in Macau and China, focusing on interior decoration engineering services[33] - The company is exploring new strategies for product development and technological advancements in the interior decoration sector[33] - The company anticipates future growth through market expansion and potential new strategies, although specific details were not disclosed in the call[36] - The company plans to adapt resources in line with national policies and market trends while expanding collaborations with renowned domestic and international real estate developers[137] - The company will actively seek opportunities in large-scale and high-end interior decoration projects in response to strong housing demand in Hong Kong[134] - The company intends to enhance management and operational efficiency to secure more quality clients and new contracts, aiming for higher profit growth[138] Employee and Operational Costs - Employee costs increased to HKD 513,518,000 in 2022 from HKD 488,443,000 in 2021, an increase of 5.1%[70] - The total employee cost for the year increased by HKD 25.1 million or 5.1% to HKD 513.5 million, attributed to a 2.7% rise in average employee numbers[133] Economic Environment - The local GDP of Hong Kong contracted by 3.5% year-on-year in 2022, influenced by ongoing global economic challenges[90] - The total nominal value of construction projects conducted by major contractors in Hong Kong in 2022 was HKD 247.1 billion, representing a year-on-year growth of 5.7%[91] - The total nominal value of construction projects on private land in Hong Kong was HKD 66.7 billion, with a year-on-year increase of 7.2%[91] - The total number of visitors to Macau in 2022 decreased by 26% to 5.7 million, impacting the hotel and gaming sectors[92] - The gross gaming revenue in Macau for 2022 was MOP 42.2 billion, down 51.4% year-on-year[92] Compliance and Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and policies[151] - The financial statements have been reviewed and confirmed to be consistent with the audited consolidated financial statements[152] - The annual performance report will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[153] - The group has not implemented any foreign currency or interest rate hedging policies as of December 31, 2022, and will monitor exchange and interest rate fluctuations closely[129]
承达集团(01568) - 2022 - 年度业绩