Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately HKD 66,328,000, a decrease of about 26.0% compared to HKD 89,620,000 in 2022[22] - The loss attributable to the company's owners for the year ended December 31, 2023, was approximately HKD 93,749,000, an increase of about 42.3% from HKD 65,895,000 in 2022[22] - The basic loss per share for the year ended December 31, 2023, was approximately HKD 4.78, compared to HKD 3.57 in 2022[22] - Gross profit for the same period was HKD 11,233,000, down from HKD 14,060,000, reflecting a decline in profitability[23] - The company reported a loss before tax of HKD 94,639,000, compared to a loss of HKD 58,403,000 in the previous year, indicating a worsening financial performance[23] - The total comprehensive loss for the year was HKD 96,061,000, compared to HKD 68,233,000 in 2022, representing a significant increase in losses[23] - The company reported a net loss of approximately HKD 93,749,000 for the year ended December 31, 2023, compared to a net loss of HKD 65,895,000 in 2022, indicating an increase in losses[96] Assets and Liabilities - The total non-current assets amounted to HKD 51,262,000 in 2023, compared to HKD 50,322,000 in 2022[7] - The company's total assets less current liabilities were HKD 175,137,000 in 2023, down from HKD 234,516,000 in 2022[7] - The company's net assets attributable to owners decreased to HKD 148,113,000 in 2023 from HKD 208,432,000 in 2022[8] - The company's equity totalled HKD 148,712,000, down from HKD 209,300,000, indicating a decline in shareholder value[28] - The total assets of the company as of December 31, 2023, were 214,185 thousand HKD, compared to 288,373 thousand HKD in 2022, indicating a decrease of approximately 25.7%[67] - The company’s total liabilities as of December 31, 2023, were 65,473 thousand HKD, down from 79,073 thousand HKD in 2022, reflecting a decrease of approximately 17.2%[67] Cash Flow and Liquidity - The company's cash and cash equivalents decreased to HKD 31,243,000 in 2023 from HKD 52,012,000 in 2022[7] - The current ratio as of December 31, 2023, was approximately 4.17, down from 4.42 in 2022[190] - The debt-to-equity ratio as of December 31, 2023, was approximately 22.1%, an increase from 15.0% in 2022[191] Revenue Breakdown - Revenue from external customers for the year ended December 31, 2023, was 89,620 thousand HKD, a decrease from 66,328 thousand HKD in 2022, representing a decline of approximately 33.8%[67] - The apparel business revenue declined by 24.0% to HKD 56,488,000 for the year ended December 31, 2023, accounting for 84.6% of total revenue[133] - The loan financing business revenue decreased by approximately 39.9% to about HKD 8,199,000 for the year ended December 31, 2023, representing 12.4% of total revenue[134] - Total revenue from customer contracts for the year ended December 31, 2023, was HKD 58,129,000, a decrease of 23.5% from HKD 75,989,000 in 2022[75] Expenses and Cost Management - Administrative expenses decreased to HKD 67,263,000 from HKD 76,290,000, showing some cost control efforts[23] - Employee benefits expenses were 24,132 thousand HKD in 2023, down from 41,826 thousand HKD in 2022, reflecting a decrease of approximately 42.5%[1] - Financing costs rose to HKD 6,318,000 from HKD 3,991,000, reflecting increased borrowing costs[23] - Sales and distribution expenses increased by 62.6% to approximately HKD 3,033,000 in 2023, up from HKD 1,865,000 in 2022[179] Impairments and Provisions - The company recognized an impairment of goodwill amounting to HKD 13,000,000, a reduction from HKD 34,632,000 in the prior year[23] - Trade receivables expected credit loss provisions increased to HKD 1,205,000 from HKD 550,000, indicating rising credit risk[23] - The expected credit loss provision for trade receivables increased by approximately 119.1% to HKD 1,205,000 for the year ended December 31, 2023, compared to HKD 550,000 in 2022[122] - The expected credit loss provision for loans and interest decreased by 31.6% to approximately HKD 14,496,000 for the year ended December 31, 2023, down from HKD 21,196,000 in 2022[123] Shareholder Actions - The company did not recommend the payment of any final dividend for the year ended December 31, 2023[22] - The company did not declare any interim or final dividends for the years ended December 31, 2023, and 2022[80] - The company plans to repurchase and cancel 60,000,000 shares due to the anticipated failure of Dreamtoys Inc. to achieve guaranteed profits for 2023[125] Other Notable Events - The company completed the acquisition of Dreamtoys Inc. for a total consideration including HKD 4,400,000 in promissory notes and 180,000,000 shares[177] - The company raised approximately HKD 10,900,000 from the placement of 110,862,000 shares at a price of HKD 0.10 per share[171] - There were no significant acquisitions or disposals of subsidiaries and associates during the year ended December 31, 2023[195] - The company had no specific major investment plans or capital assets as of December 31, 2023, consistent with 2022[198]
天机控股(01520) - 2023 - 年度业绩