Financial Performance - The company reported a revenue of HKD 51,340,000 for the year ended December 31, 2023, representing a 52.1% increase from HKD 33,765,000 in 2022[5] - Gross profit for the year was HKD 21,125,000, up 54.0% from HKD 13,737,000 in the previous year[5] - The company achieved a net profit of HKD 12,511,000 for the year, compared to a net loss of HKD 19,225,000 in 2022[5] - Revenue from the distribution of medical equipment and products increased to HKD 51,340,000 in 2023, up 52.1% from HKD 33,765,000 in 2022[15] - The company's adjusted profit before tax for the medical and health business segment was HKD 11,308,000 in 2023, compared to HKD 6,834,000 in 2022, representing a 65.5% increase[19] - The group recorded revenue of HKD 513 million for the year ending December 31, 2023, compared to HKD 338 million in 2022, representing a growth of approximately 51.8%[33] - Gross profit for the same period was HKD 211 million, up from HKD 137 million in 2022, resulting in a gross margin of 41.1%, compared to 40.5% in the previous year[33] Assets and Liabilities - The company's total assets increased to HKD 35,098,000 in 2023 from HKD 18,605,000 in 2022, reflecting an increase of 88.5%[6] - Total assets as of December 31, 2023, amounted to HKD 56,073,000, an increase from HKD 24,640,000 in 2022[19] - The total assets of the group reached HKD 561 million in 2023, compared to HKD 246 million in 2022, indicating substantial growth in asset value[34] - The company's total liabilities as of December 31, 2023, were HKD 379,934,000, compared to HKD 368,595,000 in 2022, indicating a slight increase[19] - As of December 31, 2023, the company reported current liabilities of approximately HKD 341,590,000 and total liabilities of HKD 323,861,000[46] - The company's cash and cash equivalents were only about HKD 8,068,000, while borrowings and bonds payable totaled HKD 287,557,000[46] - Approximately HKD 262,735,000 of borrowings and bonds payable were overdue as of December 31, 2023, raising significant doubts about the company's ability to continue as a going concern[46] Expenses and Costs - The company reported a significant reduction in administrative expenses, which fell to HKD 15,087,000 from HKD 23,021,000, a decrease of 34.6%[5] - Financing costs decreased to HKD 12,940,000 in 2023 from HKD 15,549,000 in 2022, reflecting a reduction of 16.5%[22] - Depreciation expenses for property, plant, and equipment were HKD 1,189,000 in 2023, a decrease from HKD 2,040,000 in 2022[24] - Other income, including bank interest and foreign exchange gains, totaled HKD 6,921,000 in 2023, down from HKD 9,765,000 in 2022[21] Corporate Governance and Future Outlook - The company has engaged in a debt restructuring plan to restore its financial and operational status, with an estimated HKD 345 million of debt expected to be fully and finally discharged[9] - The company has been continuously developing its healthcare business to improve operational cash flow[9] - The company expects that the newly issued Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[14] - The company has adopted a new corporate governance framework emphasizing effective risk management and internal control systems[42] - The group aims to expand its existing business and seek new commercial opportunities despite ongoing global economic challenges[36] Shareholder Information - The company did not declare any dividends for the year ending December 31, 2023, consistent with the previous year[25] - The total issued shares remained unchanged at 326,037,000 shares, with a total issued capital of HKD 3,030.66 million[35] - The company is under a trading suspension since November 27, 2017, and is working towards meeting the resumption conditions set by the stock exchange[36] Cash Flow - Cash and cash equivalents increased to HKD 8,068,000 in 2023 from HKD 3,096,000 in 2022, marking a 160.5% increase[6] - The group's net cash inflow for the year was HKD 5.0 million, a turnaround from a net outflow of HKD 0.6 million in 2022[34] Trade Receivables - Trade receivables rose significantly to HKD 7.1 million in 2023 from HKD 1.0 million in 2022, with a notable increase in receivables aged 31 to 90 days[28] Audit and Review - The audit committee has reviewed the annual performance for the year ending December 31, 2023, ensuring alignment with the consolidated financial report[47]
京玖康疗(00648) - 2023 - 年度业绩