Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 53,037,000, an increase of 46% compared to HKD 36,381,000 in 2022[1] - Gross profit for the year was HKD 21,711,000, up from HKD 17,461,000 in the previous year, representing a 24.5% increase[1] - The company reported a loss before tax of HKD 33,129,000, compared to a loss of HKD 27,243,000 in 2022, indicating a 21.7% increase in losses[1] - The total comprehensive loss for the year was HKD 28,454,000, compared to HKD 27,352,000 in 2022, reflecting a 4% increase in comprehensive losses[3] - Basic and diluted loss per share for the year was HKD 8.81, compared to HKD 8.36 in the previous year, indicating a 5.4% increase in loss per share[3] - The group reported a loss before tax of HKD 10,814,000 in 2023, compared to HKD 5,570,000 in 2022, indicating a worsening financial position[33] - The company's net loss increased by 6% to approximately HKD 28,900,000, influenced by a gross profit increase of about HKD 4,250,000 and a property sale loss of HKD 900,000[45] Revenue Breakdown - Revenue from hotel and hospitality services significantly increased to HKD 31,393,000 in 2023, up from HKD 14,437,000 in 2022, representing a growth of 117%[17] - The hair design segment generated revenue of HKD 15,832,000 in 2023, a slight increase from HKD 15,085,000 in 2022[21] - The group’s securities investment revenue decreased to HKD 2,935,000 in 2023 from HKD 3,018,000 in 2022, reflecting a decline of 2.75%[21] - Rental income from investment properties was HKD 2,796,000 in 2023, down from HKD 3,821,000 in 2022, a decrease of 26.8%[21] - Revenue from hair design services increased from HKD 14,440,000 in 2022 to HKD 15,277,000 in 2023, an increase of approximately 5.8%[31] - Total revenue from external customers in Hong Kong decreased from HKD 33,934,000 in 2022 to HKD 51,441,000 in 2023, an increase of approximately 51.5%[28] Asset and Liability Management - Non-current assets decreased from HKD 362,290,000 in 2022 to HKD 345,138,000 in 2023, a decline of 4.7%[5] - Current assets decreased significantly from HKD 168,435,000 in 2022 to HKD 72,609,000 in 2023, a drop of 56.9%[5] - Total liabilities decreased from HKD 300,791,000 in 2022 to HKD 264,296,000 in 2023, a reduction of 12.1%[6] - The company's equity attributable to owners decreased from HKD 280,648,000 in 2022 to HKD 252,358,000 in 2023, a decline of 10.1%[6] - Total assets decreased from HKD 530,725,000 in 2022 to HKD 417,747,000 in 2023, a decline of approximately 21.3%[23] - Total liabilities decreased from HKD 249,797,000 in 2022 to HKD 165,273,000 in 2023, a decline of approximately 33.8%[23] Investment and Financing - The company incurred a fair value loss on investment properties of HKD 4,700,000, compared to HKD 2,800,000 in 2022, representing a 67.9% increase in losses[1] - The valuation loss on investment properties amounted to HKD 4,700,000, increasing the segment loss to HKD 10,539,000, with total investment property valuation dropping to HKD 114,300,000[50] - The fair value loss of securities investments increased by 1% to HKD 11,560,000 as of December 31, 2023[65] - The financial assets at fair value through profit or loss amounted to approximately HKD 51,098,000, down from HKD 58,940,000 in the previous year[66] - Interest expense on bank loans rose from HKD 5,193,000 in 2022 to HKD 9,896,000 in 2023, an increase of approximately 90.5%[33] - The company recorded a financing cost increase of HKD 5,244,000 due to rising interest rates since July 2022[46] Corporate Governance and Social Responsibility - The board of directors has the discretion to declare and pay dividends, considering various financial and operational factors, without guaranteeing any specific amount during any designated period[81] - The group has received multiple awards for its commitment to corporate social responsibility, including recognition as a "Caring Company" for 16 consecutive years[90] - The board is committed to maintaining high standards of corporate governance and business ethics, regularly reviewing governance practices to meet stakeholder expectations[91] - The company did not repurchase any of its own shares during the year[96] - The company and its subsidiaries did not purchase or sell any shares of the company during the year[96] Market Outlook and Future Plans - The company plans to focus on operational efficiency and revenue growth in 2024, amid increasing competition and changing consumer preferences[63] - The company aims to explore new business opportunities and expand revenue sources by targeting high-end middle-aged clients seeking quality hair care services[57] - The property market in Hong Kong is expected to gradually recover, with new home sales increasing tenfold in the first five days after the government lifted cooling measures[54] - Global economic uncertainty is expected to continue in 2024 due to geopolitical tensions, including the ongoing conflict between Russia and Ukraine and the recent Israel-Hamas war, which may lead to a significant economic downturn[82] - The Hong Kong economy is projected to grow by 2.5% to 3.5% in 2024, while Macau's GDP growth is expected to reach approximately 10%, recovering to about 90% of 2019 levels[85] - The group anticipates benefiting from the recovery of the tourism sector in Hong Kong and Macau, supported by government initiatives and a series of large-scale events planned for 2024[85]
世纪建业(00079) - 2023 - 年度业绩