Revenue and Profitability - For the year ended December 31, 2023, the revenue was approximately HKD 2,327.5 million, an increase of about 29.8% compared to HKD 1,793.1 million in 2022[2] - The gross profit for the same period was approximately HKD 206.1 million, reflecting a growth of about 36.5% from HKD 151.0 million in 2022[2] - The profit attributable to equity shareholders was approximately HKD 47.1 million, a decrease of about 12.3% from HKD 53.7 million in 2022[2] - The group's revenue for the year was approximately HKD 2,327.5 million, an increase of about 29.8% compared to HKD 1,793.1 million in 2022[27] - Gross profit rose approximately 36.5% to about HKD 206.1 million, with a gross profit margin increase of 0.5 percentage points to approximately 8.9%[27] - The group’s pre-tax profit for the year ended December 31, 2023, was HKD 65,158,000, compared to HKD 29,760,000 in 2022, indicating a substantial increase[133] - The company reported a net profit attributable to equity shareholders of approximately HKD 47.1 million for 2023, a decrease of about 12.3% from HKD 53.7 million in 2022[74] Segment Performance - The cleaning services segment recorded a revenue increase of 37.3%, reaching approximately HKD 1.83 billion, which accounted for about 78.5% of the total revenue[21] - The waste management and recycling segment's revenue increased by approximately 14.7%, with profit margin improving from about 0.4% to 7.6% due to effective cost control measures[14] - The waste management and recycling segment reported revenue of HKD 278.9 million, a growth of 14.7% from HKD 243.2 million[57] - The clean services segment generated revenue of HKD 1,827,343,000, which is a 37.3% increase from HKD 1,330,697,000 in 2022[162] - The waste management and recycling services segment reported revenue of HKD 276,983,000, up from HKD 207,209,000, marking a growth of approximately 33.6%[162] Contracts and Business Development - The company secured new contracts worth approximately HKD 3.1 billion in 2023, increasing the total value of contracts on hand from approximately HKD 3.59 billion to about HKD 4.43 billion, a growth of about 23.3%[17] - The company has approximately HKD 4,430.8 million in unexpired contracts as of December 31, 2023, with about HKD 2,238.0 million expected to be recognized by the end of 2024[16] - The company won contracts to provide smart food waste recycling machines and maintenance services for large private residential estates in early 2024[7] - The company plans to expand its food waste recycling machines to all public housing estates in Hong Kong by 2024, creating significant business opportunities[63] - The company is actively developing the private customer market through a one-stop service approach to enhance growth across core businesses[64] Financial Position - The group's current assets totaled approximately HKD 684.0 million, with a current ratio of about 1.2 times, indicating a healthy liquidity position[48] - The total cash and bank balances as of December 31, 2023, were approximately HKD 41.4 million, an increase of about 42.8% from HKD 29.0 million in 2022[75] - Current assets increased significantly from HKD 530,925 thousand in 2022 to HKD 683,988 thousand in 2023, representing an increase of about 29%[88] - Total liabilities increased from HKD 489,953 thousand in 2022 to HKD 575,950 thousand in 2023, marking an increase of about 17.6%[88] - The company's asset-liability ratio improved from 0.7 times in 2022 to 0.6 times in 2023[103] Employee and Operational Metrics - The number of employees increased from 8,894 in 2022 to 10,229 in 2023, reflecting a growth of approximately 15%[109] - The total employee costs, including director remuneration, increased to HKD 1,856,452,000 in 2023 from HKD 1,398,845,000 in 2022, representing a growth of approximately 32.7%[190] Government Regulations and Market Opportunities - The government announced the implementation of a solid waste charging scheme effective August 1, 2024, which is expected to drive growth in the company's recycling and green technology businesses[20] - The introduction of a waste charging scheme on August 1, 2024, is expected to significantly boost recycling volumes and benefit the group's recycling and green technology business[34] - The North Metropolis Area is expected to provide approximately 500,000 new housing units, presenting opportunities for the company's core businesses[65] Financial Costs and Subsidies - The financial costs for the year were approximately HKD 13.7 million, up from HKD 8.2 million in 2022, primarily due to increased operating capital loans and bank borrowing rates[73] - The group recognized government subsidies totaling HKD 1,755,000 in 2023, down from HKD 17,489,000 in 2022, reflecting a decrease in support[141] - The company received subsidies of HKD 801,000 for the elimination of certain commercial diesel vehicles, down from HKD 5,147,000 in the previous year, showing a shift in operational strategy[165] Asset Management - Non-current assets decreased from HKD 365,243 thousand in 2022 to HKD 327,405 thousand in 2023, a decline of approximately 10.4%[88] - The total assets as of December 31, 2023, amounted to HKD 1,011,393,000, up from HKD 896,168,000 in 2022, indicating a growth of approximately 12.9%[159] - The company reported a net asset value of HKD 369,701 thousand in 2023, up from HKD 336,111 thousand in 2022, representing an increase of approximately 10%[121] Dividends and Shareholder Returns - The proposed final dividend per ordinary share is HKD 0.034 for 2023, which has not been recognized as a liability at the reporting date[194]
碧瑶绿色集团(01397) - 2023 - 年度业绩