Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 264,515,000, representing a 90% increase from HKD 139,285,000 in 2022[3] - Gross profit for the year was HKD 59,924,000, compared to HKD 18,999,000 in the previous year, indicating a significant improvement[3] - The company reported a net loss of HKD 73,220,000 for 2023, a reduction from a loss of HKD 593,714,000 in 2022, showing a substantial decrease in losses[4] - Basic and diluted loss per share improved to HKD 19.2 from HKD 160.3 in the previous year[4] - The group reported a pre-tax loss of HKD 14,640,000 for 2023, a substantial improvement compared to a loss of HKD 683,939,000 in 2022[22] - The group reported a loss of approximately HKD 47,026,000 for the year ended December 31, 2023, compared to a loss of HKD 392,648,000 in 2022, indicating a significant improvement in performance[33] - The group’s tax expense for the year was HKD 58,580,000, compared to a tax credit of HKD 90,225,000 in the previous year, indicating a shift towards profitability[22] Assets and Liabilities - The company’s total assets less current liabilities amounted to HKD 1,903,643,000, down from HKD 2,075,974,000 in 2022[8] - Non-current assets decreased to HKD 1,916,501,000 from HKD 1,980,193,000 year-over-year[8] - The company’s total liabilities decreased to HKD 1,480,052,000 from HKD 1,576,103,000, reflecting improved financial health[9] - Total assets as of December 31, 2023, amounted to HKD 2,632,348,000, a decrease from HKD 2,821,259,000 in 2022, primarily due to asset revaluation[27] - The group’s liabilities increased slightly to HKD 1,480,052,000 in 2023 from HKD 1,562,103,000 in 2022, indicating stable financial leverage[27] - The group’s total liabilities decreased from HKD 412,323,000 in 2022 to HKD 293,625,000 in 2023, indicating improved financial stability[39] Revenue Segments - The company generated HKD 185,076,000 from property sales, up from HKD 108,941,000 in 2022, reflecting strong performance in this segment[14] - The property development segment generated revenue of HKD 185,076,000, while the hotel operations segment contributed HKD 7,710,000, indicating a recovery in these areas[26] - Rental income for the year was approximately HKD 23,058,000 in 2023, an increase from HKD 18,657,000 in 2022, representing a growth of about 23.0%[50] Cost Management - The company’s financing costs decreased to HKD 46,885,000 from HKD 50,982,000, contributing to the reduction in overall losses[3] - Financing costs decreased to HKD 46,885,000 in 2023 from HKD 50,982,000 in 2022, reflecting better cost management[20] - Employee costs, including salaries and bonuses, decreased from HKD 13,244,000 in 2022 to HKD 12,576,000 in 2023, reflecting cost management efforts[32] - The total employee cost for the year was approximately HKD 13,493,000, down from HKD 14,105,000 in 2022, with 125 employees as of December 31, 2023[81] Investment and Future Plans - The company plans to continue focusing on market expansion and new product development to drive future growth[12] - The company plans to continue a diversified development strategy and optimize its asset portfolio while maintaining a cautious and optimistic operational approach[65] - The company plans to continue focusing on expanding existing businesses and exploring new business opportunities in 2024, including seeking acquisition deals to enter new markets[76] Legal Matters - The company is involved in ongoing legal disputes, but the board believes these will not have a significant impact on operations[55] - The company has a legal claim for RMB 30,426,958.91 against Zhejiang Beishen Cultural Tourism Development Co., Ltd., with no appeals filed after the initial judgment[58] Shareholder Information - The company did not recommend any dividend distribution for the year ending December 31, 2023, consistent with the previous year[52] - The board did not recommend the payment of a final dividend for the year, consistent with the previous year[84] - The company has issued 244,955,413 shares and convertible bonds as of January 9, 2024, with a potential conversion of up to 252,359,145 shares from existing convertible bonds[93] Miscellaneous - The company has no single customer contributing over 10% of total revenue, maintaining a diversified customer base[30] - The company has not entered into any hedging transactions during the year, despite facing foreign exchange risks due to fluctuations in the RMB to HKD exchange rate[71] - The company remains confident in seizing new market opportunities while ensuring steady growth and innovation[65]
钧濠集团(00115) - 2023 - 年度业绩