Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue from continuing operations of HKD 25,187,000, a decrease of 14.8% compared to HKD 29,550,000 in 2022[5] - The gross profit for the year was HKD 15,751,000, representing a significant increase of 36.5% from HKD 11,533,000 in the previous year[5] - The company incurred an operating loss before tax of HKD 26,831,000, which is a 88.5% increase from the loss of HKD 14,204,000 in 2022[5] - The total comprehensive loss for the year was HKD 30,548,000, a reduction of 46.2% compared to HKD 56,894,000 in the prior year[7] - The loss attributable to owners of the company from continuing operations was HKD 27,150,000, compared to HKD 14,204,000 in 2022[7] - The company reported a loss from discontinued operations of HKD 3,398,000, a decrease from HKD 42,690,000 in the previous year[7] - The basic loss per share from continuing operations was HKD 5.57, compared to HKD 10.37 in 2022[9] - The company reported a total comprehensive loss of HKD 60,292,000 for the year, compared to a loss of HKD 56,894,000 in the previous year[14] - The company reported a loss attributable to shareholders of HKD 30,548,000 for 2023, a decrease from a loss of HKD 56,893,000 in 2022[45] - The basic and diluted loss per share from continuing operations was HKD 27,150,000 in 2023 compared to HKD 14,203,000 in 2022[45] Expenses and Provisions - The administrative expenses rose to HKD 28,742,000, up 36.5% from HKD 21,066,000 in 2022[5] - The company recorded an expected credit loss provision of HKD 11,782,000, a significant increase from HKD 97,000 in the previous year[5] - The company recognized an impairment provision of HKD 8,654,000 for receivables and interest, up from zero in 2022[48] - The company reported a credit loss provision of HKD 3,120,000 for trade receivables, significantly higher than HKD 97,000 in 2022[52] - Provisions for trade receivables, loans, and other receivables increased by approximately HKD 11,700,000 based on expected credit loss models[92] Assets and Liabilities - Total non-current assets decreased from HKD 36,211,000 to HKD 29,839,000, a decline of approximately 17.6% year-over-year[11] - Current assets decreased significantly from HKD 73,505,000 to HKD 40,303,000, representing a reduction of about 45.0%[11] - Total current liabilities decreased from HKD 32,453,000 to HKD 15,733,000, a decrease of approximately 51.5%[11] - The company's net assets decreased from HKD 76,961,000 to HKD 49,878,000, a decline of about 35.3%[12] - The company’s equity attributable to owners decreased from HKD 77,194,000 to HKD 49,878,000, a reduction of about 35.3%[12] - The company’s total liabilities decreased to HKD 6,851,000 in 2023 from HKD 8,027,000 in 2022[57] - Current assets exceeded current liabilities by HKD 24,600,000 as of December 31, 2023[102] Revenue Streams - Revenue from data center services was HKD 22,037,000 in 2023, down from HKD 26,550,000 in 2022, reflecting a decline of 17.0%[26] - The group recorded total revenue of approximately HKD 25,200,000, a decrease of HKD 4,400,000 compared to HKD 29,600,000 in 2022, representing a decline of 14.9%[86] - Revenue from big data center services was approximately HKD 22,000,000, down HKD 4,600,000 from HKD 26,600,000 in the same period of 2022, a decrease of 17.3%[86] - Revenue from the lending business increased to approximately HKD 3,200,000, an increase of HKD 200,000 from HKD 3,000,000 in 2022, representing a growth of 6.7%[87] - Interest income from lending activities increased to HKD 3,150,000 in 2023, compared to HKD 3,000,000 in 2022, representing a growth of 5.0%[26] Market Strategy and Operations - The company aims to explore new market opportunities and enhance its product offerings in the upcoming fiscal year[5] - The group has signed an agreement with an independent third party to identify potential customers for its data center services in Hong Kong, focusing on expanding overseas operations[28] - The group’s strategy includes focusing on overseas market expansion due to the decline in the cryptocurrency market in Hong Kong[28] - The company plans to expand its data center business in overseas markets, including North America and Southeast Asia[104] - The company remains optimistic about the future of the cryptocurrency mining industry, anticipating improvements in efficiency and sustainability as the ecosystem matures[63] Capital and Investments - The company completed the sale of its data center services in China for HKD 37,000,000 on January 11, 2023, with the net assets of the sold business amounting to HKD 40,398,000[35][38] - The company acquired 55% equity in Your Choice Ever Best, Inc. for USD 4,311,913 (approximately HKD 33,848,515), but the agreement automatically terminated due to unmet conditions[93] - The group invested USD 150,000 (approximately HKD 1,177,500) in Cyberflow Digital Inc., acquiring a 30% stake in the company[94] - The group spent HKD 18,201,000 on machinery and equipment for a new data center in the U.S. and HKD 2,310,000 on property renovations[95] Employee and Management - The company has not declared any dividends for the years ending December 31, 2023, and December 31, 2022[42] - The total remuneration for directors was approximately HKD 2,000,000 for the year, down from HKD 3,700,000 in the previous year[109] - As of December 31, 2023, the company employed a total of 18 employees, an increase from 10 employees in the previous year[109] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance and audited financial statements[116] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year[118] - The company will hold its Annual General Meeting on May 10, 2024, with a suspension of share transfer registration from May 7 to May 10, 2024[119] - The preliminary announcement of the financial results for the year ending December 31, 2023, will be consistent with the audited consolidated financial statements[121] - The annual report for the year ending December 31, 2023, will be published on the company's website and distributed to shareholders at an appropriate time[123]
加幂科技(08198) - 2023 - 年度业绩