Revenue Performance - Total revenue for the year ended December 31, 2023, was $8,512,000, a decrease of 31% from $12,372,000 in 2022[10] - Marine revenue decreased to $8,449,000 in 2023 from $12,079,000 in 2022, representing a decline of 30%[10] - The company's revenue decreased by 31% to $8,512,000 in the fiscal year 2023, compared to $12,372,000 in 2022, primarily due to a decline in shipping business revenue[90] - The shipping business's revenue for fiscal year 2023 was $8,449,000, down 30% from $12,079,000 in 2022, with profit decreasing by 59% to $2,227,000[111] Profit and Loss - The net loss attributable to the company's owners for 2023 was $3,974,000 compared to a profit of $1,123,000 in 2022[11] - The company recorded a loss attributable to owners of $3,974,000 for the fiscal year 2023, compared to a profit of $1,123,000 in 2022, resulting in a basic loss per share of $0.36[90] - The company reported a loss of $2,100,000 from the sale of subsidiaries in 2023[10] - The shipping segment reported a profit before tax of $5,436 thousand, while the investment holding segment incurred a loss of $1,104 thousand[44] - The company confirmed a loss of $2,100,000 related to the sale of a subsidiary during the fiscal year 2023[71] Assets and Liabilities - The total liabilities and equity as of December 31, 2023, was $59,034,000, down from $66,455,000 in 2022, a reduction of 6%[6] - The total equity decreased to $57,098,000 in 2023 from $61,138,000 in 2022, a decline of 7%[5] - Total assets decreased from $66,455 thousand in 2022 to $59,034 thousand in 2023, a decline of approximately 11.5%[34] - Current assets increased slightly from $18,277 thousand in 2022 to $18,807 thousand in 2023, an increase of about 2.9%[34] - Total liabilities decreased from $3,826 thousand in 2022 to $1,828 thousand in 2023, a reduction of approximately 52.2%[33] - As of year-end, the group's borrowings amounted to $756,000, significantly reduced from $2,878,000 in 2022, resulting in a low debt ratio of approximately 1% compared to 5% in the previous year[121] Financial Management - Interest income fell to $63,000 in 2023 from $293,000 in 2022, a decrease of 78%[10] - The company’s administrative expenses increased to $1,563,000 in 2023 from $1,335,000 in 2022, an increase of 17%[10] - Financial costs decreased by 46% to $187,000 in fiscal year 2023, primarily due to a reduction in average borrowing amounts compared to the previous year[100] - The company’s financial costs decreased from $346 thousand in 2022 to $346 thousand in 2023, indicating stable financial management[45] Impairment and Provisions - The credit loss provision for debt instruments measured at fair value through other comprehensive income was $1,146,000 in 2023, down from $1,402,000 in 2022[30] - The company recognized an impairment loss of $1,008,000 on vessels during the year, an increase from $797,000 in 2022, reflecting the current market conditions[92] - The loss was primarily due to a credit loss provision of $1,146,000 for debt instruments measured at fair value, reflecting the deteriorating financial condition of the bond issuers, which are mainly property companies based in mainland China[113] Market Conditions - The Baltic Dry Index fluctuated throughout the year, reaching a low of approximately 500 points in February 2023 and a high of about 3,300 points in December 2023, indicating a weaker shipping market compared to the previous year's range of 1,500 to 2,500 points[91] - The Baltic Dry Index, closely related to market freight rates, remained volatile, indicating a need for impairment assessment of the company's vessels[76] Future Outlook and Plans - The management plans to utilize the remaining net proceeds of $5,800,000 from the public offering for the acquisition of a second-hand bulk carrier, as recent market conditions have presented buying opportunities[124] - The management is actively evaluating potential investment and acquisition opportunities to enhance business performance and deliver long-term benefits to shareholders[126] - The company plans to restart its commodity trading business focused on electronic components when market conditions improve, as it recorded no revenue during the fiscal year 2023[95] Dividends and Shareholder Returns - The company did not declare a final dividend for the fiscal year ending December 31, 2023, consistent with the previous year[89] Employee and Operational Expenses - The company reported a decrease in employee benefits expenses to $802,000 in 2023 from $703,000 in 2022[73] - The company has no overdue or impaired trade receivables as of December 31, 2023, and all amounts have been fully settled[78]
勇利投资(01145) - 2023 - 年度业绩