Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 408,572,000, an increase from HKD 235,116,000 in 2022[3] - Gross profit for the year was HKD 173,456,000, compared to HKD 162,553,000 in the previous year, reflecting a gross margin improvement[3] - The net profit attributable to the owners of the company for the year was HKD 12,558,000, a significant recovery from a loss of HKD 25,676,000 in 2022[3] - Basic and diluted earnings per share for the year were HKD 0.63, compared to a loss per share of HKD 1.28 in the previous year[3] - Total comprehensive loss for the year amounted to HKD 40,236,000, compared to a loss of HKD 5,413,000 in 2022, primarily due to foreign exchange losses[4] - The company's total equity increased to HKD 239,260,000 from HKD 195,032,000, reflecting a stronger financial position[7] - The group reported a net loss attributable to shareholders of HKD 25,676,000 for the year, compared to a profit of HKD 12,558,000 in the previous year, indicating a significant decline in profitability[42] Revenue Breakdown - Total revenue for 2023 reached HKD 408,572,000, an increase of 9.7% compared to HKD 372,310,000 in 2022[22] - Revenue from Mainland China was HKD 128,401,000, a decrease of 6.9% from HKD 137,517,000 in 2022[22] - Revenue from Hong Kong decreased by 30.2% to HKD 54,721,000 from HKD 78,373,000 in 2022[22] - Revenue from Bangladesh was HKD 50,696,000, down 16.2% from HKD 60,481,000 in 2022[22] - The company reported no revenue from any major customer contributing over 10% of total revenue in 2023, compared to HKD 43,501,000 from a major customer in 2022[25] Assets and Liabilities - Non-current assets totaled HKD 189,170,000 as of December 31, 2023, slightly up from HKD 187,668,000 in 2022[6] - Current assets increased to HKD 205,897,000 from HKD 181,757,000 in the previous year, indicating improved liquidity[6] - Current liabilities decreased to HKD 135,521,000 from HKD 153,159,000, enhancing the company's net current asset position[6] - Trade receivables net value increased from HKD 42,923,000 in 2022 to HKD 44,912,000 in 2023, an increase of approximately 5%[43] - Trade payables decreased from HKD 57,323,000 in 2022 to HKD 53,572,000 in 2023, a reduction of about 6%[46] Costs and Expenses - The cost of sales increased from HKD 209,757,000 in 2022 to HKD 235,116,000 in 2023, reflecting an increase of about 12%[34] - Total other income and gains decreased from HKD 9,516,000 in 2022 to HKD 1,901,000 in 2023, representing a decline of approximately 80%[32] - The total tax expense for the year was HKD 6,218,000, slightly up from HKD 6,026,000 in 2022, marking an increase of about 3%[38] - Employee benefits expenses for the fiscal year 2023 were approximately HKD 153.7 million, compared to HKD 156.7 million in the fiscal year 2022[85] Strategic Focus and Future Plans - The company continues to focus on the production and sales of printed products, with plans for market expansion and potential new product development[10] - The group plans to enhance its competitive advantage by increasing the use and development of sustainable materials and products, with a solar power system set to be operational in its China factory by 2024[1] - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not significantly impact the financial statements[18] - The group focused on optimizing its global sales network, successfully attracting new customers in Spain and Italy during challenging market conditions[55] - The group invested more resources in developing RFID products, which saw significant sales growth and increased their share of overall business[56] Acquisitions and Investments - The group acquired 100% of the shares of Card King Limited for HKD 5,000,000 to expand its business scope[47] - The company made a significant acquisition of shares in Primway S.A.R.L for a total consideration of EUR 1,095,000 on February 24, 2023[88] - Card King Limited generated revenue of HKD 8,510,000 but incurred a loss of HKD 2,330,000 for the year ended December 31, 2022[50] Shareholder Information - The board of directors did not recommend a final dividend for the fiscal year 2023, whereas a dividend of HKD 0.20 per share was paid in the fiscal year 2022[86] - The annual general meeting for shareholders is scheduled for June 21, 2024, with eligible shareholders entitled to attend and vote[107] - Share transfer registration will be suspended from June 18 to June 21, 2024, to facilitate the annual general meeting[108] Audit and Compliance - The preliminary announcement of the group's performance for the fiscal year 2023 has been verified by Ernst & Young, aligning with the consolidated financial statements[105] - The audit committee consists of three independent non-executive directors, including Ms. Lu Meien (Chair), Mr. Li Dechang, and Mr. Lin Chuqing[104]
常达控股(01433) - 2023 - 年度业绩