Financial Performance - The company reported total revenue of approximately HKD 211,795,000 for the year, a decrease of about HKD 19,345,000 compared to the previous year[18]. - Gross profit was approximately HKD 61,371,000, down by about HKD 33,143,000 year-on-year, resulting in a gross margin of 29%, a decrease of 12 percentage points[18]. - The company's operating revenue for the year ended December 31, 2023, was HKD 211,795,000, a decrease of approximately 8.36% compared to HKD 231,140,000 in the previous year[42]. - The gross profit for the same period was HKD 61,371,000, down from HKD 94,514,000, indicating a significant decline in profitability[42]. - The group’s revenue for the year ended December 31, 2023, was HKD 211,795,000, a decrease from HKD 231,140,000 in the previous year, representing a decline of approximately 8.4%[97]. - The industrial products segment generated revenue of HKD 205,185,000, while the energy business contributed HKD 6,610,000, indicating a significant reliance on industrial products for overall revenue[103]. - The gross profit for the industrial products segment was HKD 83,151,000, while the energy business reported a gross loss of HKD 21,780,000, leading to a total gross profit of HKD 61,371,000[103]. - The company reported a pre-tax loss from continuing operations of HKD 70,750,000 for the year ended December 31, 2023, compared to a profit in the previous year[103]. - The total comprehensive loss for the year was HKD (106,812) million, compared to HKD (33,329) million in the previous year, marking an increase of 220.5%[8]. - For the fiscal year ending December 31, 2023, the company reported a net loss attributable to shareholders of HKD 62,509,000, compared to a loss of HKD 24,741,000 in the previous year, representing an increase in losses of approximately 152%[154]. Asset Management - The company is seeking to divest certain assets of its radar business, with assets classified as held for sale amounting to HKD 4,576,000 in equipment, HKD 1,964,000 in intangible assets, and HKD 6,125,000 in inventory[6]. - The company has reclassified certain assets from the radar business as "assets held for sale" as of December 31, 2023, indicating a strategic shift in asset management[145]. - The company's non-current assets decreased to HKD 418,929 million from HKD 449,446 million, a decline of 6.75%[59]. - Current assets also saw a decrease, dropping to HKD 405,969 million from HKD 563,736 million, a reduction of 28%[60]. - The total assets of the group as of December 31, 2023, amounted to HKD 960,502,000, with liabilities totaling HKD 706,925,000, resulting in a net asset position[103]. Expenses and Costs - Other income increased to HKD 23,276,000, up by approximately 12.65% from HKD 20,664,000 in the previous year, primarily due to increased rental income[31]. - Distribution costs decreased by approximately 22.71% to HKD 34,929,000 from HKD 45,193,000, reflecting improved cost management[32]. - Administrative expenses rose by approximately 10.40% to HKD 97,311,000 compared to HKD 88,139,000 in the previous year, indicating increased operational costs[33]. - The company reported a significant increase in depreciation and amortization expenses, totaling HKD 54,098,000 for the year, compared to HKD 18,981,000 in the previous year, reflecting a rise of approximately 185%[154]. - The company recorded a loss from the early termination of leases amounting to HKD 214,000, compared to a gain of HKD 32,000 in the previous year[125]. Market and Industry Outlook - The company remains optimistic about the future of the SMT industry despite current challenges, as the technology is essential for high-density electronic assembly[21]. - The domestic smartphone market showed a 6.5% year-on-year increase in overall shipments, with 5G smartphone shipments growing by 11.9%[23]. - The LED market in China is projected to reach RMB 68.4 billion in 2023, with expectations to grow to RMB 72.1 billion in 2024[23]. - The company anticipates that the sales of semiconductor equipment components will rise to USD 22.46 billion by 2024, up from USD 19.54 billion in 2023[8]. Financial Stability - The total liabilities decreased to HKD 234,887,000 from HKD 294,017,000, indicating improved financial stability[41]. - Total liabilities decreased to HKD 706,925 million from HKD 804,461 million, a decrease of 12.14%[64]. - The company's equity attributable to owners decreased to HKD 261,745 million from HKD 316,727 million, a decline of 17.3%[62]. - The company has significantly reduced credit risk by closely monitoring overall credit risk levels and ensuring adequate provisions for uncollectible amounts[194]. - A proper liquidity risk management framework has been established to meet short-term, medium-term, and long-term financing needs, effectively managing liquidity risk[194]. Innovation and Development - The company launched several new products in 2023, including multiple IC bonding machines and semiconductor ovens, with significant improvements in functionality and reliability[24]. - The company obtained 5 new patents in 2023, bringing the total number of design patents to 59 as of December 31, 2023[24]. - The company actively participated in several major industry exhibitions in 2023, enhancing its influence in the market[26]. Foreign Exchange and Financial Risks - The company faces foreign exchange risk due to transactions and assets denominated in RMB, HKD, and USD, and will continue to monitor currency fluctuations closely[195].
芯成科技(00365) - 2023 - 年度业绩