Revenue Performance - Total revenue for the year ended December 31, 2023, was HKD 4,145,653, a slight decrease from HKD 4,271,161 for the year ended December 31, 2022[4]. - Revenue from metal products was HKD 1,168,812, while revenue from construction materials was HKD 2,976,657, contributing to a total of HKD 4,145,469 from customer contracts[4]. - The company experienced a decrease in sales of metal products from HKD 1,219,040 in 2022 to HKD 1,168,812 in 2023, reflecting market challenges[4]. - The total sales from construction materials decreased from HKD 3,051,922 in 2022 to HKD 2,976,657 in 2023, indicating a potential market contraction[4]. - The overall revenue slightly decreased due to lower commodity prices, including steel, and the conclusion of the steel processing business during the year[99]. - The group's total revenue for the year ended December 31, 2023, was approximately HKD 4,145,653,000, a decrease of 3% compared to the previous year[107]. - The group's core business in construction materials generated revenue of approximately HKD 2,976,735,000, a decrease of 2%, while the pre-tax profit increased by 94% to approximately HKD 165,403,000[124]. Profitability - The company reported a gross profit of HKD 249,069 for the year, with a breakdown of HKD 83,666 from metal products and HKD 165,403 from construction materials[9]. - The company reported a pre-tax profit of HKD 106,180, highlighting operational efficiency despite revenue fluctuations[11]. - Gross profit increased to HKD 625,238, up 38.2% from HKD 452,886 in the previous year[41]. - Profit before tax for the year was HKD 178,756, representing a 68.1% increase from HKD 106,180 in 2022[41]. - The net profit for the year was HKD 160,892, compared to HKD 90,538 in the previous year, marking an increase of 77.5%[41]. - The net profit attributable to the company after deducting non-controlling interests was approximately HKD 138,921,000, an increase of 84% compared to the previous year[122]. Assets and Liabilities - Non-current assets in Hong Kong amounted to HKD 274,944 thousand, while those in mainland China were HKD 360,897 thousand[24]. - Non-current assets decreased to HKD 651,263 from HKD 749,573 in the previous year, a decline of 13.1%[44]. - Current assets slightly decreased to HKD 2,268,065 from HKD 2,285,686, a reduction of 0.8%[44]. - Current liabilities decreased to HKD 1,357,762 from HKD 1,529,119, a decline of 11.2%[44]. - The company reported a deferred tax asset and liability of HKD 20,411,000 each, with no significant impact on financial performance[27]. - Deferred tax liabilities increased to HKD 27,192 thousand from HKD 24,132 thousand, reflecting a rise of approximately 12.7%[63]. - The company’s total liabilities decreased to HKD 174,439 thousand from HKD 228,004 thousand, indicating a reduction of about 23.5%[63]. Cash Flow and Investments - As of December 31, 2023, the group's bank deposits and cash totaled approximately HKD 652,131,000, an increase from HKD 541,569,000 as of December 31, 2022[128]. - The group's total borrowings as of December 31, 2023, were approximately HKD 906,133,000, down from HKD 1,250,243,000 as of December 31, 2022[113]. - The group plans to continue exploring new quality investment opportunities and developing different products and markets for sustainable growth[112]. - The group's capital commitments for the purchase of properties, plants, and equipment amounted to approximately HKD 86,074,000 as of December 31, 2023, significantly up from HKD 3,558,000 as of December 31, 2022[129]. Dividends and Shareholder Returns - The company plans to declare a final dividend of HKD 0.035 per share for the year ended December 31, 2023, up from HKD 0.030 per share in the previous year[56]. - Basic earnings per share rose to HKD 24.19, up from HKD 13.17 in 2022[43]. - Proposed final dividend of HKD 0.035 per ordinary share, an increase from HKD 0.030 in the previous year, totaling HKD 20,103,000[81]. Risk Management and Compliance - The company provided credit terms ranging from 30 to 180 days for customers, compared to 30 to 120 days in 2022[8]. - The impairment loss based on expected credit loss model was HKD 13,951, indicating a focus on managing credit risk[13]. - The group has implemented a series of control procedures to manage credit risk and ensure comprehensive risk management in its lending operations[104]. - The group will regularly review the performance of each loan to monitor repayment and ensure recoverability, taking appropriate measures when risks are identified[104]. - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations as of December 31, 2023[134].
高力集团(01118) - 2023 - 年度业绩