Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 360,813,000, a decrease of 5.5% from HKD 380,381,000 in 2022[4]. - Gross profit for the year was HKD 208,892,000, down 7.9% from HKD 226,894,000 in the previous year[4]. - The company reported a net loss attributable to shareholders of HKD 278,244,000, compared to a loss of HKD 142,413,000 in 2022, representing a 95.4% increase in losses[4]. - The company reported a pre-tax loss of HKD 306,356,000 for the year ended December 31, 2023, compared to a pre-tax loss of HKD 79,716,000 in 2022[37][39]. - The group recorded a loss attributable to owners of HKD 278.2 million, compared to a loss of HKD 142.4 million in the previous year[105]. - Other income for 2023 was HKD 95,710,000, down from HKD 130,516,000 in 2022, indicating a decrease of approximately 26.7%[44]. - The company does not recommend the payment of dividends for the year ended December 31, 2023, consistent with the previous year[59]. - The company reported a basic and diluted loss attributable to shareholders of HKD (278,244,000) for the year ended December 31, 2023, compared to a loss of HKD (142,413,000) in 2022[60]. Asset and Liability Management - Total assets as of December 31, 2023, amounted to HKD 8,318,476,000, a decrease from HKD 8,992,824,000 in 2022[6]. - Non-current assets, including investment properties, decreased to HKD 2,285,002,000 from HKD 2,574,020,000 in the previous year[6]. - Current liabilities increased to HKD 2,757,729,000 from HKD 2,352,581,000 in 2022, indicating a rise of 17.2%[7]. - The company's cash and cash equivalents decreased to HKD 512,602,000 from HKD 846,107,000 in 2022, reflecting a decline of 39.4%[6]. - The company's equity attributable to shareholders decreased to HKD 6,220,127,000 from HKD 6,684,441,000 in 2022, a drop of 6.9%[7]. - The total bank borrowings increased to HKD 1,565,700,000 in 2023 from HKD 1,153,600,000 in 2022[88]. - The total borrowings of the group amounted to HKD 1.5657 billion as of December 31, 2023, an increase from HKD 1.1536 billion in 2022, with management closely monitoring the borrowing portfolio and interest rate risks[128]. Revenue Breakdown - Property management fee income for 2023 was HKD 106,644,000, down from HKD 120,244,000 in 2022, reflecting a decrease of about 11.3%[24]. - Rental income for 2023 was HKD 166,042,000, compared to HKD 176,349,000 in 2022, indicating a decline of approximately 5.8%[24]. - Interest income from financing services for 2023 was HKD 25,223,000, slightly down from HKD 25,587,000 in 2022, a decrease of about 1.4%[24]. - The group's revenue from other services in 2023 was HKD 62,904,000, an increase from HKD 58,201,000 in 2022, representing a growth of approximately 12.5%[24]. - The financial services business had an interest income of HKD 25.2 million, slightly down from HKD 25.6 million in 2022[108]. - Other businesses generated revenue of HKD 169.5 million, a decrease of 5% compared to the previous year[191]. Investment and Fair Value Losses - The fair value loss on investment properties was HKD 253,483,000, significantly higher than the loss of HKD 11,472,000 in 2022[4]. - The fair value loss for the year ended December 31, 2023, was HKD 285,371,000, compared to HKD 202,171,000 in 2022[75]. - The fair value loss of investment properties was HKD (253,483,000) in 2023, compared to a loss of HKD (11,472,000) in 2022, with the carrying amount of completed investment properties at HKD 2,285,002,000 as of December 31, 2023[63]. - The net loss from the investment in Rockefeller Group Asia Pacific, Inc. was HKD 37.9 million, with a fair value loss of HKD 285.4 million recognized in the current year[192]. Operational Efficiency and Cost Management - Employee costs for 2023 were HKD 134,965,000, a decrease from HKD 142,866,000 in 2022, reflecting a reduction of about 5.5%[48]. - The total operating costs amounted to approximately HKD 267.9 million, a decrease of about 8% from HKD 290.9 million in 2022, attributed to cost control measures implemented by the group[127]. - Financing costs amounted to approximately HKD 87.1 million, an increase from HKD 46 million in 2022, mainly due to higher average bank borrowings and rising interest rates[185]. Market and Economic Context - The Chinese economy's GDP for 2023 was RMB 126 trillion, with a year-on-year growth of approximately 5.2%[99]. - The financial technology market in China reached USD 85 billion in 2023, with a projected compound annual growth rate of around 18%[100]. - The real estate development investment in China for 2023 was RMB 1.109 trillion, a year-on-year decline of 9.6%[100]. - The forecast for China's GDP growth in 2024 is approximately 5%-6%[103]. Strategic Initiatives and Future Outlook - The group plans to continue exploring partnerships with leading fintech companies to optimize business models and create new value[105]. - The company is closely monitoring market conditions and uncertainties, implementing prudent strategies in response to the global financial market downturn in 2023[119]. - The group aims to balance profitability and growth while exploring new opportunities in the fintech sector, which is seen as having significant development potential[181].
百仕达控股(01168) - 2023 - 年度业绩