Financial Performance - For the year ended December 31, 2023, the company reported total revenue of HKD 142,298,000, a slight decrease of 0.4% compared to HKD 142,835,000 in 2022[2] - The gross profit for the year was HKD 21,595,000, representing an increase of 3.6% from HKD 20,846,000 in the previous year[2] - The net loss for the year was HKD 58,267,000, which is a 28.1% increase compared to a net loss of HKD 45,489,000 in 2022[2] - The basic and diluted loss per share for the year was HKD 1.88, compared to HKD 1.51 in 2022, indicating a 24.5% increase in loss per share[3] - The company reported a total comprehensive loss of HKD 48,929,000 for the year, an improvement from a total comprehensive loss of HKD 64,667,000 in 2022[3] - The pre-tax loss for the year ended December 31, 2023, was HKD 58,267,000, compared to a pre-tax loss of HKD 45,489,000 in 2022, indicating a worsening of approximately 28.2%[20] - Loss before tax increased by approximately HKD 12,800,000 to about HKD 58,300,000, primarily due to an increase in fair value losses on biological assets and financial costs[44] - The net loss for the segment was approximately 57,900,000 HKD in 2023, an increase of about 17,200,000 HKD from 2022, primarily due to foreign exchange losses and changes in the fair value of biological assets[58] Assets and Liabilities - Total assets decreased to HKD 86,071,000 from HKD 107,040,000 in 2022, reflecting a decline of 19.6%[5] - The total assets as of December 31, 2023, amounted to HKD 86,071,000, down from HKD 107,040,000 in 2022, indicating a decrease of approximately 19.6%[20] - The total liabilities as of December 31, 2023, were HKD 1,188,132,000, an increase from HKD 1,160,172,000 in 2022, representing an increase of about 2.4%[20] - As of December 31, 2023, the company had current liabilities of HKD 1,083,590,000 and total liabilities of HKD 1,102,061,000, indicating significant uncertainty regarding the company's ability to continue as a going concern[97] Financial Support and Restructuring - The company has received a commitment from its major shareholder to provide ongoing financial support, ensuring liquidity through at least December 31, 2025[8] - The company is actively working on improving its financial performance to negotiate better terms during debt restructuring[8] - The company continues to prepare its financial statements on a going concern basis despite significant losses and liabilities[7] Segment Performance - For the year ended December 31, 2023, the total revenue from the support services segment was HKD 142,298,000, compared to HKD 142,835,000 in 2022, reflecting a slight decrease of 0.4%[19] - The ethanol business segment reported a performance loss of HKD 1,053,000 for the year ended December 31, 2023, compared to a loss of HKD 1,167,000 in 2022, showing an improvement of about 10%[20] - The support services segment recorded no revenue in both 2023 and 2022, severely impacted by the rejection of a resolution related to supply agreements at a special shareholders' meeting[62] Capital Expenditure and Investments - The total capital expenditure for property, plant, and equipment in the support services segment was HKD 2,252,000 for the year ended December 31, 2023[24] - The company invested approximately HKD 2,252,000 in the acquisition of property, plant, and equipment during the year[34] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the review period[72] - There were no significant future investment or capital asset plans reported for the group during the review period[74] - The group has not made any significant investments in the fiscal years ending December 31, 2023, and December 31, 2022[79] Market Conditions and Future Outlook - The global supply of raw sugar is expected to remain stable in 2024, with an anticipated increase in global sugar consumption[81] - The Jamaican government will continue to support the local sugar industry by providing funding for road maintenance and restricting raw sugar imports[82] - Labor costs, which account for approximately 10% of production costs, are expected to increase due to union wage adjustment demands, potentially raising production costs in 2024[81] - The group anticipates that raw sugar prices will see only slight increases in 2024 due to limited further price hikes following two increases in 2023[81] Governance and Compliance - The group has complied with the corporate governance code, except for certain deviations regarding insurance arrangements for directors[87] - The company has adopted a code of conduct for directors' securities transactions, which complies with the standards set out in the listing rules[98] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the year[99] Employee Costs - Total employee costs for the group increased to approximately HKD 47,600,000 in 2023, up from approximately HKD 42,200,000 in 2022, driven by a 25.3% increase in weekly wages due to the government's minimum wage adjustment[71]
华联国际(00969) - 2023 - 年度业绩