Financial Performance - The company's total revenue for the year ended December 31, 2023, was approximately HKD 314.8 million, a slight increase of about 0.3% from HKD 313.8 million in 2022[3] - The net loss attributable to shareholders for the year was approximately HKD 74.7 million, compared to a loss of HKD 27.5 million in 2022, resulting in a basic loss per share of HKD 0.043[3] - The total comprehensive loss for the year ended December 31, 2023, was HKD 72,693,000, compared to a loss of HKD 29,187,000 in 2022, representing an increase in loss of approximately 148.5%[31] - The loss attributable to owners of the company for the year was HKD 73,510,000, compared to a loss of HKD 28,588,000 in the previous year, indicating a significant increase in loss of approximately 157.5%[31] - Basic and diluted loss per share for the year was HKD 8.0 cents, compared to HKD 4.3 cents in 2022, reflecting a 86.0% increase in loss per share[31] - The group reported a loss of approximately HKD 74.7 million for the year, an increase of about HKD 47.2 million (or approximately 171.6%) compared to a loss of HKD 27.5 million in 2022[90] - The loss attributable to the company's owners for 2023 was approximately HKD 73.5 million, up by about HKD 44.9 million (or approximately 157.0%) from HKD 28.6 million in 2022[91] Revenue Breakdown - Revenue from the China market decreased by approximately HKD 12.3 million (or about 4.4%) to HKD 266.3 million, accounting for 84.6% of total revenue[5] - Revenue from the overseas market increased by approximately HKD 13.3 million (or about 37.8%) to HKD 48.5 million, representing 15.4% of total revenue[6] - Revenue from consulting services rose to approximately HKD 51.9 million, an increase of about HKD 15.9 million (or about 44.2%) compared to HKD 36.0 million in 2022[15] - Revenue from oilfield project tools and services decreased by approximately HKD 14.9 million (or about 5.4%) to HKD 262.9 million, primarily due to reduced sales of completion tools in the China market[14] - Revenue from the Middle East increased by approximately HKD 17.2 million (or about 56.2%) to HKD 47.8 million, driven by increased supervisory services[11] - Revenue from the North China region increased by approximately HKD 5.6 million (or about 9.0%) to HKD 67.7 million, mainly due to increased production services[8] - Revenue from the North West China region decreased by approximately HKD 10.8 million (or about 29.6%) to HKD 25.7 million, primarily due to reduced production and drilling services[9] - Revenue from Customer 1 was approximately HKD 166.9 million, down by about HKD 50.4 million (or approximately 23.2%) from HKD 217.3 million in 2022, mainly due to reduced services in Southwestern and Northwestern China[24] - Revenue from Customer 2 increased by approximately HKD 18.7 million (or approximately 38.9%) to HKD 66.8 million in 2023, driven by increased production services in Northern China[24] Operational Highlights - The group completed drilling services for 15 wells in 2023, compared to 14 wells in 2022[18] - The group expects stable market demand for its production enhancement services in China in 2024, despite a significant decline in consulting service scale in the Middle East[28] - Employee count increased by approximately 3.2% to 256 as of December 31, 2023, from 248 in the previous year[25] - Research and development expenses increased to HKD 23.7 million in 2023, up from HKD 15.6 million in 2022[30] Asset and Liability Management - Non-current assets decreased from HKD 370,423,000 in 2022 to HKD 256,384,000 in 2023, a decline of approximately 30.8%[33] - Current assets slightly increased from HKD 452,989,000 in 2022 to HKD 455,627,000 in 2023, showing a marginal growth of about 0.6%[33] - Current liabilities decreased from HKD 427,278,000 in 2022 to HKD 433,123,000 in 2023, an increase of approximately 1.4%[33] - The company's net assets decreased from HKD 261,735,000 in 2022 to HKD 191,155,000 in 2023, a decline of approximately 27.0%[34] - The company reported a significant decrease in intangible assets from HKD 85,656,000 in 2022 to HKD 26,756,000 in 2023, a reduction of approximately 68.8%[33] - The group secured additional loan financing of RMB 46,390,000 from a bank in China to support operational funding for oil and gas projects[50] - The group also obtained a loan of RMB 30,000,000 from a lending company in China, which has not yet been drawn down[50] - The group's total borrowings were approximately HKD 187.1 million, down from HKD 227.4 million in 2022, with 54.5% due within one year[101] - The asset-liability ratio as of December 31, 2023, was approximately 45.3%, compared to 42.2% in 2022[103] Financial Reporting and Compliance - The company has not adopted any new or revised international financial reporting standards that would have a significant impact on the financial statements for the current year[38] - The company is currently evaluating the impact of new international accounting standards that have been issued but are not yet effective, expecting no significant impact on its financial position[43] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year[112] - The financial data for the group as of December 31, 2023, has been verified by the auditor, but no audit opinion has been issued[111] Other Financial Metrics - The group recorded a net profit from associates of approximately HKD 8.7 million, compared to HKD 3.6 million in 2022[89] - The group recognized an impairment loss of HKD 58.9 million related to goodwill due to expected non-renewal of certain contracts in 2024[84] - Other income increased to approximately HKD 28.3 million from HKD 2.5 million in 2022, primarily due to gains from the sale of interests in associates and government subsidies[85] - The company reported a net financing cost of HKD 11,545,000 for 2023, up from HKD 6,035,000 in 2022, indicating increased financial burdens[62] - The company reported a net financing income of HKD 3,458,000 for 2023, down from HKD 4,773,000 in 2022, reflecting reduced income from financing activities[62] - The group experienced a significant increase in other income and losses, reporting HKD 28,324,000 for 2023 compared to HKD 2,546,000 in 2022, indicating improved performance in this area[60]
百勤油服(02178) - 2023 - 年度业绩