Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 170,406,000, an increase of 14.3% from HKD 149,292,000 in the previous year[5] - Gross profit for the same period was HKD 60,350,000, representing a significant increase of 41.7% compared to HKD 42,594,000 in 2022[5] - The company achieved a profit before tax of HKD 32,956,000, up 55.1% from HKD 21,275,000 in the prior year[5] - The net profit attributable to equity holders for the year was HKD 28,229,000, which is a 52.9% increase from HKD 18,473,000 in 2022[5] - Basic and diluted earnings per share rose to HKD 3.53, compared to HKD 2.31 in the previous year, marking an increase of 52.8%[5] - The company reported a total comprehensive income of HKD 28,229,000 for the year, compared to HKD 18,473,000 in the previous year, representing an increase of approximately 52.5%[8] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 172,218,000, a decrease from HKD 213,544,000 in 2022[7] - Current liabilities decreased to HKD 25,814,000 from HKD 27,546,000 in the previous year, indicating improved liquidity management[7] - The company reported cash and cash equivalents of HKD 67,547,000, down from HKD 79,169,000 in 2022[7] - As of December 31, 2023, total equity attributable to equity holders decreased to HKD 153,097,000 from HKD 189,868,000 at the beginning of the year, reflecting a decline of approximately 19.3%[8] - Retained earnings as of December 31, 2023, stood at HKD 63,429,000, down from HKD 100,200,000 at the beginning of the year, indicating a decrease of approximately 36.7%[8] - The reserves in the consolidated financial position decreased to HKD 145,097,000 from HKD 181,868,000 year-over-year, a decline of approximately 20.2%[9] Strategic Initiatives - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings report[5] - The company is actively pursuing strategic initiatives, including potential mergers and acquisitions, to enhance its market position[5] Accounting Policies - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a significant impact on the financial statements[16] - The company anticipates that the newly adopted financial reporting standards will not have a significant impact on its consolidated financial statements[18] - The group has ceased applying the practical expedient method and has adopted the new accounting policy as per the guidelines issued by the Hong Kong Institute of Certified Public Accountants[22] Revenue and Expenses - The group reported a total revenue of HKD 170,406 thousand for the year ended December 31, 2023, an increase of 14.2% compared to HKD 149,292 thousand in 2022[29] - The service cost for the year ended December 31, 2023, was HKD (110,056) thousand, reflecting an increase from HKD (109,484) thousand in 2022[28] - The group’s administrative expenses for the year ended December 31, 2023, were HKD (31,821) thousand, a decrease from HKD (32,138) thousand in 2022[28] - Total employee costs increased from HKD 104,144,000 in 2022 to HKD 109,429,000 in 2023, a rise of approximately 5.3%[38] - Income tax expense rose by approximately HKD 1.9 million or 67.9% to about HKD 4.7 million, primarily due to an increase in taxable profits[78] Customer and Market Dynamics - Customer A's revenue decreased from HKD 34,464,000 in 2022 to HKD 24,339,000 in 2023, representing a decline of approximately 29.4%[35] - The company reported a profit attributable to shareholders of approximately HKD 28.2 million for the year, compared to HKD 18.5 million for the previous year, reflecting an increase due to more awarded projects and improved productivity following the lifting of COVID-19 restrictions[70] - Revenue increased by approximately HKD 21.1 million or 14.1% to about HKD 170.4 million, primarily due to an increase in awarded projects and enhanced productivity after the government lifted COVID-19 restrictions[72] Dividends - The company declared dividends totaling HKD 65,000,000 during the year, which impacted retained earnings significantly[8] - The company did not recommend the payment of a final dividend for the years ending December 31, 2023, and December 31, 2022[40] - The company will not recommend a final dividend for the current year, maintaining a total cash dividend of HKD 0.08125 per ordinary share for the year, consistent with the interim dividend paid on September 18, 2023[81] Compliance and Governance - The audit committee has reviewed the annual performance and provided recommendations and opinions on the financial statements for the year[92] - The announcement complies with the GEM listing rules of the Hong Kong Stock Exchange, ensuring the accuracy and completeness of the information provided[95] - Directors confirm that the information in the announcement is accurate and does not contain misleading or fraudulent elements[95] - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[96]
宝燵控股(08601) - 2023 - 年度业绩