Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,196,309,000, representing an increase of 4.6% from HKD 1,144,103,000 in 2022[4] - Profit attributable to owners of the company decreased to HKD 51,321,000, down 55.3% from HKD 114,773,000 in the previous year[4] - Basic earnings per share for 2023 was HKD 0.1329, a decline of 55.3% compared to HKD 0.2971 in 2022[7] - Gross profit for the year was HKD 370,989,000, up 18.6% from HKD 312,613,000 in 2022[6] - Operating profit decreased significantly to HKD 42,070,000, down 65.8% from HKD 122,988,000 in the previous year[6] - Total comprehensive income for the year was HKD 67,596,000, compared to HKD 64,780,000 in 2022, reflecting a slight increase of 2.8%[6] - The company recorded a pre-tax profit of HKD 56,858,000 for the year, down from HKD 127,078,000 in the previous year, indicating a decline of approximately 55.2%[29] - Basic earnings per share for 2023 were HKD 0.133, a decrease from HKD 0.297 in 2022, reflecting a decline of about 55.2%[38] Revenue Breakdown - Revenue from the original design manufacturing segment was HKD 853,987,000, up from HKD 817,070,000 in 2022, indicating a growth of about 4.5%[23] - The distribution segment generated revenue of HKD 260,775,000, slightly increasing from HKD 259,765,000 in the previous year[23] - The eyewear lens segment saw revenue rise to HKD 81,547,000 from HKD 67,268,000, marking a significant increase of approximately 21.3%[23] - The original design manufacturing segment contributed 71% of total revenue, with sales increasing by 5% to HKD 854,000,000 in 2023 from HKD 817,100,000 in 2022[49] - The distribution segment's revenue slightly increased by less than 1% to HKD 260,800,000, accounting for 22% of total revenue in 2023[51] - The eyewear lens segment saw a significant revenue increase of 21% to HKD 81,500,000, representing 7% of total revenue in 2023[52] Assets and Liabilities - Non-current assets increased to HKD 529,162,000 from HKD 435,731,000, marking a growth of 21.5%[9] - Inventory levels rose to HKD 181,374,000, up 39.6% from HKD 129,898,000 in 2022[9] - Current liabilities increased to HKD 613,953,000, compared to HKD 462,816,000 in the previous year, indicating a rise of 32.6%[9] - Trade receivables from customer contracts increased to HKD 359,677,000 in 2023, up from HKD 316,549,000 in 2022, representing a growth of approximately 13.6%[39] - Trade receivables at the end of the reporting period amounted to HKD 353,610,000, up from HKD 310,226,000 in 2022[41] - Trade payables increased to HKD 155,388,000 in 2023 from HKD 116,857,000 in 2022[42] Dividends - The company declared a final dividend of HKD 0.05 per share, unchanged from the previous year[4] - The company proposed a final dividend of HKD 0.05 per share for 2023, subject to shareholder approval[37] - The company plans to pay a final dividend of HKD 0.05 per share for the fiscal year ending December 31, 2023, consistent with the previous year[45] Accounting Policies and Adjustments - The company recognized cumulative adjustments in long service payment obligations due to changes in accounting policies, but these did not have a significant impact on financial performance[21] - The company has implemented new accounting policies regarding the offsetting mechanism for mandatory provident fund contributions, effective from May 1, 2025[19] - The company continues to assess the impact of accounting policy changes on its financial statements, ensuring compliance with updated standards[18] Other Financial Metrics - The net foreign exchange loss for 2023 was HKD 13,521,000, a significant decline from a net gain of HKD 30,154,000 in 2022[25] - Total employee costs for the year amounted to HKD 437,341,000, slightly down from HKD 441,798,000 in 2022[35] - The company recognized an impairment loss of HKD 284,000 on intangible assets in 2023, compared to no impairment in 2022[29] - The total unallocated income and gains for the year were HKD 6,769,000, while unallocated corporate expenses and losses amounted to HKD 69,208,000[28] - The group's net cash inflow for 2023 was HKD 68.1 million, down from HKD 99.8 million in 2022[53] - Capital expenditures increased significantly to HKD 63.4 million in 2023, compared to HKD 26.5 million in 2022, due to investments in optical lens production and factory expansion in Vietnam[53] - The current ratio decreased from 1.4 as of December 31, 2022, to 1.2 as of December 31, 2023[54] - The debt-to-equity ratio slightly increased from 4% to 6% during the same period[55] - The net asset value per share rose to HKD 1.40 as of December 31, 2023, up from HKD 1.34 a year earlier[56] Business Development and Strategy - The company launched the AMOS online ordering system for eyewear in November 2023, aimed at boosting growth in the distribution and lens segments[62] - The company anticipates continued pressure on gross margins due to rising labor costs in the design and manufacturing sector, expected to align with GDP growth rates in China[63] - The company has approximately three months of sales orders on hand, indicating a stable order book despite a challenging business environment[60] - A construction contract worth RMB 67.3 million (approximately HKD 73.3 million) was signed for a new factory in Huizhou, Guangdong, on February 6, 2024[64]
雅视光学(01120) - 2023 - 年度业绩