Financial Performance - For the year ended December 31, 2023, the total revenue was $105,682,000, representing an increase of 5% from $100,189,000 in 2022[3] - The gross profit decreased to $9,322,000, down 28% from $12,945,000 in the previous year[3] - Operating profit rose to $2,001,000, a significant increase from $921,000 in 2022, marking a 117% growth[3] - Net profit attributable to the company's owners was $1,815,000, compared to $572,000 in 2022, reflecting a 216% increase[4] - Basic and diluted earnings per share improved to 0.50 cents, up from 0.16 cents in the prior year[4] - The total comprehensive income for the year was $4,486,000, compared to a loss of $3,982,000 in 2022[6] Revenue Breakdown - Revenue from graphite products was $36.794 million, up from $27.436 million in 2022, reflecting a growth of about 34%[20] - Revenue from electronic products decreased to $68.402 million from $72.301 million, a decline of approximately 5%[20] - The graphite business generated revenue of approximately USD 36.8 million in 2023, a significant increase of 34.1% from approximately USD 27.4 million in the previous year[42] - The UK electronics manufacturing and design services revenue was approximately USD 68.9 million, a decrease of USD 3.9 million or 5.4% from approximately USD 72.8 million in the previous year[43] Assets and Liabilities - Current assets totaled $371,475,000, slightly up from $371,203,000 in the previous year[8] - The net current assets increased to $352,518,000 from $348,036,000 in 2022[10] - Total assets less current liabilities amounted to $390,380,000, compared to $385,975,000 in the previous year[10] - The company's total equity increased to $389,658,000 from $385,172,000 in 2022[10] - The total assets of the company as of December 31, 2023, were $409.337 million, slightly up from $409.142 million in 2022[18] - The company's total liabilities increased to $19.679 million in 2023 from $23.970 million in 2022, indicating a reduction of approximately 18%[18] Trade Receivables and Payables - Trade receivables rose to $34.819 million in 2023 from $17.550 million in 2022, showing an increase of approximately 99%[21] - The aging analysis of trade payables showed a total of approximately $10.6 million as of December 31, 2023, down from $18.3 million in 2022[33] - Trade receivables as of the reporting date totaled approximately $34.8 million, significantly increasing from $17.6 million in 2022[30] Capital Expenditures and Investments - Capital expenditures for the year were $1.921 million, a decrease from $4.618 million in 2022[22] - The company acquired 9.87% equity in Scientific Energy, Inc. (SEI) through a share exchange agreement, involving 250,250,000 new shares for 26 million SEI shares, valued at HKD 10,010,000[39] Dividends and Share Issuance - The company decided not to declare any dividends for the year ended December 31, 2023, consistent with 2022[28] - The company issued a total of 250,250,000 ordinary shares in exchange for shares valued at approximately $1.284 million as part of a share exchange agreement[35] Future Outlook and Challenges - The company expects an 8-10% increase in UK revenue for 2024, projecting it to reach GBP 60 million due to a historically high backlog of orders[46] - The company is facing challenges in the graphite market due to increased competition and reduced customer orders, with expectations of instability in 2024[45] Cash and Financial Health - As of December 31, 2023, the company's cash and cash equivalents were approximately USD 6.1 million, down from USD 12.1 million as of December 31, 2022[47] - The company recorded net current assets of approximately USD 352.5 million as of December 31, 2023, compared to USD 348 million in the previous year[47] - The company has no bank borrowings as of December 31, 2023, and its debt-to-equity ratio was 0.03%[47] Corporate Governance and Compliance - The company has complied with all corporate governance codes as of December 31, 2023, except for the separation of the roles of Chairman and CEO[62] Employee Relations - The company employed 314 staff as of December 31, 2023, down from 344 in 2022, and maintains good relations with its employees[56] Miscellaneous - The company has no significant uncertain events that could cast doubt on its ability to continue as a going concern[59] - There were no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2023[54] - The company has no capital commitments related to the purchase of fixed assets as of December 31, 2023[52] - There have been no significant adverse changes in the company's debt as of December 31, 2023[51]
谊砾控股(00076) - 2023 - 年度业绩