Financial Performance - Total revenue for ISP Holdings Limited for the year ended December 31, 2023, was HKD 154.715 million, a decrease of 31.1% from HKD 224.923 million in 2022[3] - Gross profit for the same period was HKD 13.095 million, down 42.1% from HKD 22.660 million in 2022[3] - The loss from continuing operations for the year was HKD 15.244 million, compared to a loss of HKD 1.700 million in 2022, representing an increase in loss of 794.4%[4] - The total comprehensive loss attributable to equity holders for the year was HKD 15.770 million, compared to a comprehensive income of HKD 434.053 million in 2022[4] - Basic loss per share from continuing operations was HKD 3.6, compared to a loss of HKD 0.4 in 2022[4] - The company reported a net loss of HKD 1,700,000 for the year, compared to a net profit of HKD 6,429,000 in 2022[30] - The company reported a loss attributable to equity holders of HKD 15,244,000 for 2023, compared to a profit of HKD 436,740,000 in 2022[46] - Basic loss per share for continuing and discontinued operations was HKD (3.6) in 2023, down from HKD 87.9 in 2022[46] - Diluted loss per share for continuing and discontinued operations was HKD (3.0) in 2023, compared to HKD 86.5 in 2022[48] Revenue Breakdown - Total revenue for the indoor decoration and special projects business was HKD 150,348,000, while the property and facility management business in China generated HKD 4,367,000, leading to a combined total revenue of HKD 154,715,000[27] - Revenue for the year ended December 31, 2023, was approximately HKD 154.7 million, a decrease of 31.2% compared to HKD 224.9 million in 2022[63] - The indoor decoration and special projects business generated revenue of HKD 150.3 million, a decrease of 31.0% from HKD 217.7 million in 2022[70] - The China property and facility management business reported revenue of HKD 4.4 million, down 38.9% from HKD 7.2 million in the previous year[70] - Revenue for the property and facility management business in China was approximately HKD 4.4 million, a decrease of 38.9% from HKD 7.2 million in 2022[79] Expenses and Liabilities - Total current assets decreased to HKD 346.528 million in 2023 from HKD 422.138 million in 2022, a decline of 17.9%[5] - Total current liabilities decreased to HKD 163.493 million in 2023 from HKD 223.871 million in 2022, a decline of 26.9%[5] - Operating loss amounted to HKD 16,767,000, reflecting an operating loss margin of -10.8%[27] - The group reported a pre-tax loss of HKD 15,447,000 for the period[27] - Operating expenses increased by 16.3% to approximately HKD 29.9 million, primarily due to higher administrative costs related to litigation[66] - Employee costs decreased to HKD 48,029,000 from HKD 52,371,000, reflecting a reduction of approximately 8.8%[33] - The company incurred a tax expense of HKD 164,000 for the year, compared to no tax expense in the previous year[41] Assets and Cash Flow - The net asset value for the company as of December 31, 2023, was HKD 184.428 million, down from HKD 200.198 million in 2022, a decrease of 7.9%[7] - The company reported a significant reduction in cash and cash equivalents, which fell to HKD 68.241 million from HKD 153.427 million in 2022, a decrease of 55.6%[5] - As of December 31, 2023, total assets amounted to HKD 348.6 million, a decrease from HKD 424.3 million in 2022[84] - Cash and cash equivalents were HKD 147.3 million as of December 31, 2023, down from HKD 173.0 million in 2022[84] - The group maintains a current ratio of 2.1, an improvement from 1.9 in the previous year, indicating strong liquidity[84] Business Operations and Strategy - The company has not reported any new products or technologies, nor any market expansion or acquisitions during the reporting period[9] - The company completed the sale of a subsidiary for HKD 539,000,000, which primarily engaged in property and facility management services[35] - The company completed the sale of its property and facility management business for HKD 539 million, but did not recognize any significant sale gains in the reporting year[67] - The company aims to focus on expanding and developing its indoor decoration and special projects business following the sale of its previous group[70] - The interior decoration and special projects business has become the main pillar of the group, contributing over 95% of total revenue[72] - The group plans to adopt a cautious approach while exploring new business development opportunities in the property and facility management sector in China[79] - The group expects local economic challenges to continue due to global inflation and uncertainty, impacting the interior decoration and special projects business significantly[81] Accounting and Compliance - The group has adopted new accounting policies regarding long service payments, which did not have a significant impact on the financial performance or position[15] - The group plans to apply the revised Hong Kong Financial Reporting Standards upon their effective date, which are not expected to have a significant impact on future transactions[17] - The group has considered the implications of the new guidelines regarding the mandatory provident fund offset mechanism, effective from May 1, 2025[14] - The group’s financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards and the Companies Ordinance[21] - The group’s financial statements are presented in Hong Kong dollars (HKD), with values rounded to the nearest thousand[24] Future Outlook - The total value of potential bids on hand exceeds HKD 1.158 billion, with 11 potential bids submitted[75] - The total value of unfinished contracts as of December 31, 2023, is approximately HKD 141.2 million, expected to be recognized in 2024[75] - The government plans to provide approximately 32,800 units through the Hong Kong Housing Authority's redevelopment plan, which is expected to boost demand for building and renovation projects[77] - The management team will continue to monitor financial conditions and capital structure to maintain sufficient working capital and liquidity[82] - The group aims to enhance customer satisfaction through improved communication and service quality[81] - The group is committed to sustainable development and maintaining transparency and responsibility in its operations[81]
昇柏控股(02340) - 2023 - 年度业绩