Financial Performance - Total revenue for the year was approximately HKD 140.1 million, an increase of about 28.1% compared to the previous year[8]. - Average revenue per project (excluding maintenance and after-sales services) increased by approximately 55.1% to about HKD 2.90 million[8]. - Gross profit for the year was approximately HKD 15.3 million, a decrease of about 13.1% from the previous year, with a gross profit margin dropping from approximately 16.1% to about 10.9%[8]. - The company recorded a loss attributable to owners of approximately HKD 17.9 million, a reduction of about 44.6% compared to the previous year[8]. - Revenue for the year ended December 31, 2022, was approximately HKD 140.1 million, an increase of about 28.1% compared to HKD 109.4 million in 2021[24]. - Gross profit for the year was approximately HKD 15.3 million, a decrease of about 13.1% from HKD 17.6 million in 2021, with a gross margin dropping from 16.1% to 10.9%[25]. - The number of projects decreased by 17.2% to 48 in 2022, while the average revenue per project increased by 55.1% to approximately HKD 2.9 million[21]. - The company recorded a loss attributable to shareholders of approximately HKD 17.9 million, a reduction of about 44.6% from HKD 32.3 million in 2021[27]. - Total operating expenses for the year were approximately HKD 35.5 million, a decrease of about 37.5% from HKD 56.8 million in 2021[27]. Market and Demand Outlook - Future demand for interior design services is expected to increase due to the COVID-19 pandemic, with a focus on adapting work environments[11]. - The company acknowledges the significant impact of the global market downturn due to COVID-19 but believes the disruption has peaked[12]. - Management remains optimistic about the future development of the interior design and renovation industry in Hong Kong despite market challenges[16]. Business Strategy and Development - The company plans to explore new business lines and expand its core business into different markets to enhance its competitive advantage[23]. - The management is committed to developing current projects to the highest standards while exploring new revenue opportunities[12]. - The company aims to attract top talent and continue to implement COVID-safe measures and technologies[11]. Corporate Governance and Management - The company has a diverse board with members holding significant experience in finance, engineering, and technology[79][81][82]. - The management team includes experienced professionals with backgrounds in real estate, interior design, and technology[70][75][81]. - The company has established procedures for directors to seek independent professional advice as needed[167]. - The board consists of six directors, including three executive directors and three independent non-executive directors[158]. - The company has complied with all corporate governance codes as per GEM listing rules throughout the year[157]. Financial Position and Liabilities - As of December 31, 2022, the group had cash and cash equivalents of approximately HKD 12.2 million, down from HKD 27.4 million as of December 31, 2021[45]. - The current ratio as of December 31, 2022, was approximately 0.9, compared to 1.1 as of December 31, 2021[45]. - Total liabilities as of December 31, 2022, were approximately HKD 70.3 million, an increase from HKD 63.8 million as of December 31, 2021[45]. - The debt-to-equity ratio increased to approximately 30.2% as of December 31, 2022, from 22.3% as of December 31, 2021, primarily due to increased borrowings[45]. Shareholder and Stock Information - The company did not recommend a final dividend for the year, consistent with the previous year[108]. - The company has zero distributable reserves as of December 31, 2022, unchanged from the previous year[115]. - As of December 31, 2022, the major shareholder, 呂宇健, holds 68,403,200 shares, representing 18.99% of the company's issued shares[147]. - The company has maintained a public float of at least 25% of its total issued shares as per GEM listing rules[150]. Community and Environmental Commitment - The company is committed to community service and environmentally friendly practices in its operations[83]. - The company made charitable donations totaling HKD 17,000 for the year, an increase from HKD 3,800 in the previous year[116]. Risk Management - The company relies on timely provision of interior design solutions to meet customer preferences, which poses a risk to financial performance[111]. - The group has no significant foreign currency hedging policy but will consider hedging major foreign currency risks as needed[49]. - The group plans to manage its investment portfolio cautiously in light of recent stock market volatility[58].
利骏集团香港(08360) - 2022 - 年度财报