Financial Performance - The audited consolidated revenue from continuing operations for the year ended December 31, 2023, was approximately HKD 820,875,000, a decrease of about 11.9% compared to HKD 931,380,000 in 2022[36]. - The profit attributable to the owners of the company from continuing operations was approximately HKD 68,390,000, significantly down from HKD 216,750,000 in 2022[39]. - The gross profit for the year was HKD 296,040,000, compared to HKD 407,533,000 in the previous year[1]. - The company's revenue from continuing operations decreased by 11.9% to approximately HKD 820,875,000 for the year ended December 31, 2023, compared to approximately HKD 931,380,000 in 2022[60]. - The net profit attributable to shareholders from continuing operations was approximately HKD 68,390,000 for the year ended December 31, 2023, down from HKD 216,750,000 in 2022[60]. - The total profit for the year was 102,798 thousand HKD, compared to 262,875 thousand HKD in the previous year[190]. Cost and Expenses - The cost of sales for continuing operations was approximately HKD 524,835,000, representing 63.9% of the recorded revenue for 2023, compared to 56.2% in 2022[63]. - The financial costs for continuing operations increased by approximately 14.7% to about HKD 5,223,000 in 2023 from HKD 4,553,000 in 2022[65]. - The administrative and other expenses increased in the current year, impacting overall profitability[39]. - The depreciation of property, plant, and equipment increased to 49,589 thousand HKD in 2023 from 37,018 thousand HKD in 2022[200]. - Employee costs, including director remuneration, totaled 178,162 thousand HKD in 2023, compared to 171,261 thousand HKD in 2022[200]. Assets and Liabilities - The company's current assets net value as of December 31, 2023, was approximately HKD 82,612,000, down from HKD 197,477,000 in 2022[40]. - The current ratio as of December 31, 2023, was 1.26, compared to 2.06 in 2022[40]. - The cash and cash equivalents as of December 31, 2023, were approximately HKD 201,253,000, an increase from HKD 189,779,000 in 2022[40]. - The group had no bank credit as of December 31, 2023, but had lease liabilities of approximately HKD 47,578,000, up from HKD 25,555,000 in 2022[66]. - The group’s debt-to-asset ratio was 34.4% as of December 31, 2023, compared to 29.7% in 2022[66]. Mining Operations - The Renison Mine is one of the world's major hard rock tin mines and the largest tin producer in Australia, with a critical tin grade reported at 0.65%[91]. - The Renison underground mine is currently recognized as the largest operating underground tin mine in the world, located in Tasmania[85]. - The total production of tin metal from the Renison underground mine in 2023 was 9,532 tons, an increase of approximately 13.42% compared to 8,404 tons in 2022[184]. - The group's indirect non-wholly owned subsidiary, YTPAH, holds a 50% interest in the Renison underground mine, allowing it to sell 4,766 tons of tin metal in 2023, up from 4,202 tons in 2022[184]. - The total mining costs for the year were 194,091 thousand HKD, with processing costs at 39,342 thousand HKD and total costs amounting to 524,835 thousand HKD[116]. Future Outlook - The average tin price decline was a significant factor contributing to the decrease in revenue[39]. - The company anticipates a gradual increase in tin prices in 2024 due to new demand from electric vehicles and supply chain disruptions[61]. - The company continues to explore the feasibility of the Renison tailings project, which requires significant capital investment before realizing its value[123]. Legal and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, confirming compliance with applicable accounting standards and legal requirements[138]. - The company has not reported the value of the Renison tailings in its accounts due to the need for substantial funding to realize its potential[123]. - The company has filed multiple claims involving AUD 16.3 million in the 3132 lawsuit against Chen and others, with the court halting proceedings until the resolution of the 1357 lawsuit[132]. - The company has not established any additional retirement benefit plans for its employees beyond the mandatory MPF scheme in Hong Kong and participation in national retirement benefit plans in Australia and China[160]. - The company has complied with the applicable corporate governance code provisions as of December 31, 2023[161]. Shareholder Information - The total number of shares available for issuance under the new share option plan is 136,600,000, representing 10% of the issued shares as of the announcement date[45]. - The group has not granted any stock options during the year ending December 31, 2023, resulting in a zero potential share issuance under its plans[98].
绿科科技国际(00195) - 2023 - 年度业绩