Financial Performance - Revenue for the year ended December 31, 2023, was HKD 55,376,948 thousand, an increase from HKD 39,090,928 thousand in 2022, representing a growth of approximately 41.5%[2] - Gross profit decreased to HKD 1,780,649 thousand in 2023 from HKD 2,079,880 thousand in 2022, reflecting a decline of about 14.4%[2] - Operating profit for the year was HKD 1,513,979 thousand, down from HKD 1,686,359 thousand in the previous year, a decrease of approximately 10.2%[2] - Net profit attributable to equity holders was HKD 1,200,955 thousand in 2023, compared to HKD 1,206,822 thousand in 2022, a slight decrease of about 0.5%[3] - Total comprehensive income for the year was HKD 1,309,044 thousand, down from HKD 1,425,607 thousand in 2022, a decline of approximately 8.2%[3] - The group reported a pre-tax profit of HKD 1,739,084 for the year 2022, which decreased to HKD 1,522,165 in 2023, reflecting a decline of 12.5%[12] - The revenue from financial services decreased to HKD 850,586,000 from HKD 1,040,263,000 in the previous year[37] - Profit attributable to shareholders for the year was approximately HKD 1,200,955,000, slightly down from HKD 1,206,822,000 in the previous year[39] Revenue Breakdown - The revenue from commodity trading and processing sales amounted to HKD 54,537,384, up from HKD 38,061,282 in the previous year, reflecting a growth of 43.4%[10] - Commission income and brokerage fees from financial services increased to HKD 242,688, compared to HKD 188,241 in 2022, marking a rise of 29%[10] - Revenue from distribution, trading, and processing business increased from approximately HKD 38,050,665,000 to approximately HKD 54,526,362,000, primarily due to increased trading volume of silver and gold bars[38] - Income from financial services decreased to approximately HKD 850,586,000 from HKD 1,040,263,000, attributed to reduced fund performance[38] Assets and Liabilities - Current assets increased to HKD 15,443,384 thousand in 2023 from HKD 12,806,572 thousand in 2022, representing a growth of about 20.4%[4] - Total liabilities increased to HKD 9,035,811 thousand in 2023 from HKD 7,671,025 thousand in 2022, reflecting a rise of about 17.8%[4] - The total assets of the group as of December 31, 2023, were HKD 16,331,129, compared to HKD 13,616,683 in 2022, indicating a growth of 20%[15] - The total liabilities of the group increased to HKD 9,061,301 in 2023 from HKD 7,707,730 in 2022, representing a rise of 17.5%[15] - The company’s loans granted to customers decreased to HKD 13,600 in 2023 from HKD 29,299 in 2022, a decline of 53.6%[26] Equity and Dividends - The company's equity attributable to equity holders increased to HKD 6,198,499 thousand in 2023 from HKD 4,584,488 thousand in 2022, a growth of approximately 35.2%[5] - The company declared an interim dividend of HKD 0.02 per ordinary share for 2023, compared to no dividend in 2022[22] - Basic earnings per share for 2023 were HKD 89.3, slightly down from HKD 89.5 in 2022, showing a marginal decrease[25] - The company authorized a share buyback plan for up to HKD 270 million, subject to market conditions[61] Operational Highlights - The company continues to explore new business opportunities to enhance synergies in its physical commodity trading operations[33] - The financial services division has expanded its offerings, including obtaining regulatory approval for a registered fund management company in Singapore[33] - The company has commenced lending operations in Hong Kong through a wholly-owned subsidiary, targeting corporate clients with loans typically denominated in HKD[41] - The company continues to focus on market expansion in Hong Kong, Singapore, and China, having acquired several chemical trading companies in Singapore to enhance its trading business[44] Risk Management - The company continues to monitor foreign exchange risks, particularly related to transactions denominated in RMB[51] - The company faces various risks including commodity price fluctuations, credit risk, and regulatory compliance risks[50][54] Compliance and Governance - The company has complied with all provisions of the Corporate Governance Code throughout the year ended December 31, 2023[63] - The Audit Committee consists of one non-executive director and two independent non-executive directors, and has reviewed the annual performance for the year ended December 31, 2023[66] - The external auditor confirmed that the figures in the preliminary announcement are consistent with the audited financial statements for the year ended December 31, 2023[67] - The annual report for the year 2023 will be sent to shareholders in due course and is available on the company's website[68]
荣晖国际(00990) - 2023 - 年度业绩