Financial Performance - Revenue for the fiscal year 2023 was HKD 2,810.1 million, a decrease of 29.8% compared to HKD 4,005.2 million in 2022[3]. - Gross profit for the fiscal year 2023 was HKD 1,128.5 million, down 34.6% from HKD 1,726.4 million in 2022[3]. - Operating profit before depreciation, financing costs, and tax was HKD 280.4 million, a decline of 74.3% from HKD 1,089.6 million in the previous year[3]. - The core business reported a loss of HKD 318.4 million, compared to a profit of HKD 194.3 million in 2022, indicating a significant shift in performance[3]. - The loss attributable to equity holders of the parent company was HKD 670.4 million, an increase of 322.4% from a loss of HKD 158.7 million in the previous year[3]. - The basic loss per share attributable to equity holders was HKD 0.2323, up 245.7% from HKD 0.0672 in 2022[3]. - The group recorded a consolidated loss attributable to shareholders of HKD 670,400,000, compared to a loss of HKD 158,700,000 in the previous fiscal year[26]. - The group reported a loss of HKD 1,684.6 million for the year ended December 31, 2023, compared to a loss of HKD 399.5 million in 2022[125]. - The total comprehensive loss for the year was HKD 2,103.8 million, significantly higher than the loss of HKD 695.6 million in the prior year[154]. - The total loss before tax for the year was HKD 1,699.0 million, compared to a loss of HKD 285.3 million in the previous year[191]. Depreciation and Expenses - Total depreciation expense for the 11 owned hotels was HKD 689.5 million, including HKD 123.4 million for the newly opened hotel[9]. - The group incurred total depreciation expenses of HKD 689,500,000 for its 11 wholly-owned hotels in Hong Kong, which negatively impacted financial performance despite having no immediate cash flow effect[26]. - Financing costs increased to HKD 1,222.9 million in 2023, up from HKD 601.9 million in 2022, reflecting a rise in interest expenses[174]. - Administrative expenses decreased slightly to HKD 408.5 million in 2023 from HKD 423.4 million in 2022[148]. - The company incurred depreciation expenses of HKD 728.7 million in 2023, slightly down from HKD 736.3 million in 2022[191]. Assets and Liabilities - The total assets of the group were HKD 40,137 million as of December 31, 2023, compared to HKD 42,094.7 million in 2022[100]. - As of December 31, 2023, the debt-to-asset ratio was 44.3%, up from 40.7% in 2022, with total liabilities amounting to HKD 17,785.2 million[100]. - The company's non-current assets decreased from HKD 29,302.1 million to HKD 28,804.2 million, a decline of approximately 1.7% year-over-year[130]. - Current assets also saw a reduction from HKD 12,792.6 million to HKD 11,332.8 million, representing a decrease of about 11.4%[130]. - Total current liabilities decreased from HKD 9,946.0 million to HKD 7,844.7 million, a reduction of approximately 21.2%[131]. - The total liabilities increased slightly to HKD 23,740.5 million in 2023 from HKD 23,413.1 million in 2022[192]. Revenue Breakdown - The company’s revenue from external customers in property development and investment for 2023 was HKD 945.3 million, a decrease of 56.7% from HKD 2,184.2 million in 2022[191]. - The company’s hotel ownership and management segment reported a revenue of HKD 1,736.2 million in 2023, a slight increase from HKD 1,694.0 million in 2022[191]. - Hotel operations and management services generated revenue of HKD 1,670.6 million, up from HKD 1,626.9 million in the previous year[195]. - The financial assets investment segment generated revenue of HKD 20.9 million in 2023, down from HKD 32.3 million in 2022, a decrease of 35.0%[191]. - The Hong Kong market contributed HKD 2,684.2 million in revenue, down from HKD 2,946.3 million in 2022[193]. Future Outlook and Strategy - The management is confident in overcoming challenges and aims to turn losses into profits as the economy recovers[7]. - The company plans to continue reviewing opportunities that promote long-term development[27]. - The company plans to focus on market expansion and new product development to drive future growth[192]. - Century Creative Technology is exploring partnerships with leading global education platforms to enhance its social impact and brand recognition[23]. Investments and Projects - The group completed the acquisition of a local securities brokerage firm in February 2023, which has since been renamed to Cheng Li Securities Limited, although its business progress has been slow due to a weak stock market[35]. - The hotel project near Hong Kong International Airport has a site area of approximately 6,650 square meters and a total gross floor area of 33,700 square meters[58]. - The luxury residential project consists of 136 apartment units and 24 independent garden houses, with a total gross floor area of approximately 32,474 square meters[74]. - The integrated development project in Chengdu has a total floor area of approximately 495,000 square meters, with 4,002 square meters of retail space sold for a total consideration of RMB 93.2 million (approximately HKD 100.6 million)[88]. - The company is considering alternative commercial plans for a historical property in London due to recent market changes[82].
世纪城市国际(00355) - 2023 - 年度业绩