Revenue Performance - The group's revenue from its China office decreased by 24.9% to HKD 483.3 million in the current year, down from HKD 643.4 million in 2022[4]. - Revenue from the group's office in Italy fell by 52.4% to HKD 451.6 million, compared to HKD 949.6 million in 2022[5]. - The Vietnam office showed strong performance with revenue of HKD 55.4 million, a 61.3% increase from the previous fiscal year[6]. - The cruise logistics segment recorded significant growth, contributing HKD 386.4 million in revenue, a 36.2% increase from HKD 283.7 million in 2022[7]. - The air freight agency business generated approximately HKD 840.5 million in revenue, a decrease of about 32.6% from HKD 1,246.4 million in 2022[10]. - The logistics and distribution services segment reported revenue of approximately HKD 402.4 million, slightly up from HKD 400.3 million in 2022, with a gross profit increase of about 17.1%[12]. - The group recorded revenue of approximately HKD 2,104.0 million for the fiscal year 2023, a decrease of about 24.5% compared to HKD 2,788.0 million in fiscal year 2022[38]. - Revenue from external customers for the year was HKD 2,103,959,000, down from HKD 2,787,972,000 in 2022, representing a decline of approximately 24.5%[61]. - The freight forwarding business, including air and sea freight, saw a revenue decline of approximately 28.7%, from HKD 2,387.7 million in fiscal year 2022 to approximately HKD 1,701.6 million in fiscal year 2023[38]. - The logistics division contributed approximately 19.1% of total revenue in fiscal year 2023, up from 14.4% in fiscal year 2022[139]. Profitability - Profit attributable to equity shareholders for fiscal year 2023 was approximately HKD 48.3 million, down 44.2% from HKD 86.6 million in fiscal year 2022[38]. - The total comprehensive income for the year was HKD 47,397,000, a decrease from HKD 74,585,000 in the previous year[49]. - The total net profit before tax for 2023 was HKD 72,375, compared to HKD 147,761 in 2022, reflecting a decline of approximately 51%[82]. - Gross profit for fiscal year 2023 was approximately HKD 420.0 million, down 18.7% from HKD 516.8 million in fiscal year 2022, with a gross margin increase from 18.5% in 2022 to 20.0% in 2023[136]. - The gross profit margin increased from 18.5% in fiscal year 2022 to 20.0% in fiscal year 2023[38]. - The gross profit for the air freight segment was HKD 129,906 in 2023, down from HKD 204,887 in 2022, indicating a decrease of about 36.6%[82]. - The gross profit margin for the logistics segment was HKD 54,731 in 2023, compared to HKD 46,709 in 2022, reflecting an increase of approximately 17.5%[82]. Cash Flow and Financial Position - The group's operating cash flow improved from a negative HKD 7.2 million to a negative HKD 3.0 million as of December 31, 2023[16]. - The group generated a net cash inflow from operating activities of HKD 99,989,000 for the year ended December 31, 2023[53]. - The group’s cash and cash equivalents as of December 31, 2023, were HKD 282,484,000[53]. - Total current assets amounted to HKD 898,227,000, while total current liabilities were HKD 901,273,000 as of December 31, 2023[53]. - The group reported a net current liability of HKD 3,046,000, primarily due to a payable for the purchase consideration of HKD 185,098,000, of which HKD 148,041,000 will be settled through the issuance of shares[53]. - The company reported trade receivables of HKD 373,198,000 for 2023, down from HKD 464,945,000 in 2022, indicating a decrease of approximately 19.7%[123]. - The company reported a significant increase in bank loans, which rose to HKD 13,230 in 2023 from HKD 1,715 in 2022, indicating a substantial increase of about 671%[74]. - The group’s bank loans and overdrafts amounted to approximately HKD 320.9 million as of December 31, 2023, compared to HKD 286.9 million on December 31, 2022[173]. - The capital debt ratio as of December 31, 2023, was approximately 18.1%, compared to a negative 13.2% on December 31, 2022[173]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.01 per ordinary share for fiscal year 2023, pending approval at the upcoming annual general meeting[38]. - The proposed final dividend for the fiscal year 2023 is HKD 0.01 per share, totaling approximately HKD 3,004,890, subject to shareholder approval[120]. - The board proposed a final dividend of HKD 0.01 per share for the fiscal year 2023, totaling HKD 3,004,890, down from HKD 0.10 per share in 2022[183]. Business Expansion and Strategy - The group plans to expand its business into the cruise logistics market, targeting the Baltic Sea, North Sea, and English Channel regions[32]. - The group entered Indonesia in 2023 and plans to open a new office in Cambodia in November 2023 to further expand its network[25]. - The company has established a new office in Cambodia in September 2023 to expand its business network in Southeast Asia[112]. - The company continues to expand its flagship warehouse in Shanghai to capitalize on future opportunities in the luxury retail sector[110]. - The company plans to expand its e-commerce presence through "嘉泓快遞" to capture market opportunities[188]. - The company has formed a partnership with a leading Chinese e-commerce platform to provide comprehensive e-commerce logistics solutions, enhancing its market positioning[114]. - The company operates 21 local branches across 15 countries and regions, including China, Hong Kong, and the United States[109]. Compliance and Accounting - The group has applied new and revised Hong Kong Financial Reporting Standards for the current accounting period[45]. - The company has adopted new accounting policies related to long-term service payments, which did not significantly impact the financial results for the current or prior periods[80]. - The company continues to implement strict control policies and has not engaged in speculative trading of debt securities or financial derivatives[146]. Employee and Operational Metrics - As of December 31, 2023, the group employed 821 staff, an increase from 678 staff as of December 31, 2022, with employee costs amounting to approximately HKD 328.6 million[33]. - The company has established 32 distribution centers with a total area of approximately 1,250,000 square feet as of December 31, 2023[11].
嘉泓物流(02130) - 2023 - 年度业绩