Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,036,268,000, a decrease of 25.2% compared to HKD 1,386,800,000 in 2022[4] - The company reported a loss before tax of HKD 522,748,000, compared to a loss of HKD 235,049,000 in the previous year, representing a 122.4% increase in losses[4] - Basic and diluted loss per share for the year was HKD 12.36, compared to HKD 5.13 in 2022, indicating a significant increase in per-share losses[4] - Total comprehensive loss for the year was HKD 711,662,000, compared to HKD 692,952,000 in 2022, reflecting a slight increase in overall losses[6] - The segment performance showed a total loss before tax of HKD 522,748,000 for 2023, compared to a loss of HKD 235,049,000 in 2022, indicating a worsening performance[18] - The net loss attributable to the company's owners for the year was approximately HKD 522,439,000, compared to a loss of HKD 216,911,000 in 2022, with a basic and diluted loss per share of HKD 0.1236[54] Assets and Liabilities - Non-current assets decreased to HKD 8,358,982,000 from HKD 8,739,920,000 in 2022, a decline of 4.4%[8] - Current assets also decreased to HKD 842,086,000 from HKD 1,316,102,000, representing a 36.0% decline[8] - Total liabilities decreased from HKD 1,938,639,000 in 2022 to HKD 1,795,347,000 in 2023, a reduction of 7.4%[9] - The company's net asset value decreased to HKD 7,405,721,000 from HKD 8,117,383,000, a decline of 8.8%[9] - The total assets as of December 31, 2023, amounted to HKD 9,201,068,000, down from HKD 10,056,022,000 in 2022, reflecting a decrease of about 8.5%[19] - The total liabilities increased to HKD 1,795,347,000 in 2023 from HKD 1,938,639,000 in 2022, showing a reduction of approximately 7.4%[22] - As of December 31, 2023, the total liabilities of the group were approximately HKD 1,795,347,000, a decrease from HKD 1,938,639,000 in 2022, resulting in a debt-to-asset ratio of 19.5% compared to 19.3% in 2022[70] Revenue Breakdown - Non-gaming revenue for the year was approximately HKD 989,503,000, down from HKD 1,340,673,000 in the previous year, while gaming revenue was approximately HKD 46,765,000, slightly up from HKD 46,127,000[54] - The integrated resort development segment generated revenue of approximately HKD 777,558,000 for the year, a decrease of about 17.8% compared to HKD 946,200,000 in the previous year[61] - The gaming business recorded a net revenue of approximately HKD 46,765,000, slightly up from HKD 46,127,000 in the previous year, but incurred a segment loss of approximately HKD 258,417,000, compared to HKD 173,965,000 in the previous year[63] - Sales from residential properties and property management amounted to approximately HKD 201,969,000 and HKD 9,976,000 respectively, down from HKD 386,143,000 and HKD 8,330,000 in the previous year[64] Expenses and Costs - The company reported a net financial cost of HKD 102,886,000 for 2023, compared to HKD 98,570,000 in 2022, indicating an increase in financial expenses[18] - Employee benefits expenses increased to HKD 535,150,000 in 2023, up 14.1% from HKD 469,015,000 in 2022[29] - The total depreciation and amortization for the segments amounted to HKD 293,788,000 in 2023, compared to HKD 488,809,000 in 2022, showing a significant reduction[19] - Depreciation and amortization expenses decreased significantly to HKD 295,192,000 in 2023 from HKD 490,330,000 in 2022, a reduction of 39.8%[29] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 266,043,000 in 2023 from HKD 503,421,000 in 2022, a decline of 47.3%[44] - As of December 31, 2023, the group's cash and bank balances were approximately HKD 266,043,000, down from HKD 503,421,000 in the previous year[69] - The current ratio decreased to 2.69 from 3.69 in the previous year, primarily due to cash and cash equivalents reduction used for operating activities and partial repayment of bank borrowings[68] Future Plans and Developments - The group plans to continue gradual maintenance, renovation, and facility upgrades at Jeju Shinhwa World, including the launch of a new premium cinema equipped with advanced sound systems[66] - The group will focus on the feasibility of further residential development in Jeju Shinhwa World to optimize land use and expand revenue sources[66] - The board believes that the reopening of borders will drive the recovery of the tourism industry, despite current pressures on room rates and occupancy[65] - The group will maintain a cautious approach to capital commitments and will act prudently in future development and investment plans to ensure robust liquidity[65] Shareholder Information - The group did not recommend a final dividend for the year ended December 31, 2023, consistent with 2022[35] - The group reported a loss per share of HKD 0.00 for both 2023 and 2022, with no potential diluted shares outstanding[36][37] - The group plans to issue 845,250,000 new ordinary shares at a subscription price of HKD 0.034 per share, which will represent approximately 16.67% of the enlarged issued share capital post-issue[51] Regulatory and Compliance - The company adopted new and revised Hong Kong Financial Reporting Standards during the year, which did not have a significant financial impact on the financial statements[15] - The audit committee consists of three independent non-executive directors, with no disagreements reported between the board and the audit committee for the year[95] - The annual report will be published in accordance with listing rules and will be sent to shareholders at an appropriate time[97]
神话世界(00582) - 2023 - 年度业绩