Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately HKD 334.24 million, a decrease of about 17.67% compared to HKD 405.99 million in 2022[6]. - The group's operating profit for the year ended December 31, 2023, was approximately HKD 15.07 million, down approximately 35.71% from HKD 23.44 million in 2022[6]. - The net profit for the year ended December 31, 2023, was approximately HKD 17.77 million, a decrease of about 16.10% compared to HKD 21.18 million in 2022[6]. - The group's total comprehensive income for the year ended December 31, 2023, was HKD 17.885 million, compared to HKD 23.556 million in 2022[9]. - The basic and diluted earnings per share for the year ended December 31, 2023, were HKD 2.22, down from HKD 2.65 in 2022[8]. - Total expenses before income tax for 2023 amounted to HKD 321,384,000, a decrease of 17.9% from HKD 391,741,000 in 2022[32]. - The company's profit attributable to shareholders decreased to HKD 17,774,000 in 2023 from HKD 21,180,000 in 2022, representing a decline of approximately 16.9%[38]. - Earnings per share (EPS) fell to HKD 2.22 in 2023 compared to HKD 2.65 in 2022, a decrease of about 16.2%[38]. Dividends - The board proposed a final dividend of HKD 0.00625 per share, totaling HKD 5.00 million, down from HKD 6.00 million in 2022[6]. - The company declared an interim dividend of HKD 0.0075 per share for 2023, consistent with the dividend declared in 2022[39]. - The company declared an interim dividend of HKD 0.0075 per share, totaling HKD 6.00 million, and proposed a final dividend of HKD 0.00625 per share, totaling HKD 5.00 million for the year ended December 31, 2023[72]. Revenue Sources - The group's revenue from property management services for 2023 was HKD 334,240,000, a decrease of 17.6% compared to HKD 405,987,000 in 2022[30]. - The group had no other single customer contributing more than 10% of total revenue, with Customer A contributing HKD 334,240,000 in 2023, down from HKD 405,987,000 in 2022[29]. - Other income for the year was approximately HKD 3.845 million, a decrease from HKD 11.022 million in 2022[8]. - Other income decreased from approximately HKD 11.02 million for the year ended December 31, 2022, to about HKD 3.85 million for the year ended December 31, 2023, mainly due to a reduction in anti-epidemic subsidies received from the Hong Kong government[61]. Expenses and Cost Management - Employee benefit expenses totaled approximately HKD 301.08 million for the year ended December 31, 2023, down about 18.38% from HKD 368.89 million in 2022, representing about 90.08% of the group's revenue[63]. - The group reported a decrease in employee benefit expenses to HKD 301.075 million from HKD 368.888 million in 2022[8]. - The group experienced a reduction in cleaning materials costs to HKD 2.774 million from HKD 4.807 million in 2022[8]. - Cleaning materials costs for the year ended December 31, 2023, were approximately HKD 2.77 million, a decrease of 42.41% from HKD 4.81 million in 2022[65]. - Other operating expenses were approximately HKD 14.75 million for the year ended December 31, 2023, a decrease of about 2.12% from HKD 15.07 million in 2022[67]. Assets and Liabilities - Total assets increased to HKD 209,529 million in 2023, up from HKD 201,983 million in 2022, representing a growth of 3.7%[11]. - Total liabilities rose to HKD 53,353 million in 2023, compared to HKD 51,692 million in 2022, indicating an increase of 3.2%[13]. - Non-current assets, including property and equipment, decreased to HKD 1,162 million in 2023 from HKD 1,494 million in 2022, a decline of 22.3%[11]. - Trade receivables increased significantly to HKD 75,087 million in 2023, up from HKD 64,248 million in 2022, marking a growth of 16.5%[11]. - Total current liabilities decreased to HKD 51,750 million in 2023 from HKD 50,011 million in 2022, a reduction of 3.5%[13]. - The company's total liabilities to total assets ratio improved slightly, decreasing to 25.5% in 2023 from 25.6% in 2022[13]. Employee Information - The group had a total of 1,579 employees as of December 31, 2023, compared to 1,339 employees in 2022[63]. - The group employed 1,579 employees as of December 31, 2023, an increase from 1,339 employees in 2022, with employee benefit expenses amounting to approximately HKD 301.08 million in 2023, down from HKD 368.89 million in 2022[89]. Accounting Policies and Standards - The group has adopted new accounting standards effective from January 1, 2023, including HKFRS 1 and HKFRS 17, which are expected to have no significant impact on the financial statements[19]. - The group anticipates that the new accounting standards and amendments will not have a significant impact on the consolidated financial statements[20]. - The group has changed its accounting policy regarding the offsetting of long service payments due to the new Employment and Retirement Schemes (Amendment) Ordinance, effective from May 1, 2025[22]. - The group will no longer apply the "practical expedient" method for offsetting mandatory contributions under the new guidelines issued in July 2023[23]. - The change in accounting policy will result in an increase in long service payment liabilities for the year ending December 31, 2022[24]. Corporate Governance - The Audit Committee has reviewed the annual performance for the year ended December 31, 2023, ensuring compliance with financial reporting processes[101]. - The company has adhered to all corporate governance codes as of December 31, 2023, and will continue to enhance its governance standards[91]. - The directors confirm that all material information is accurate and complete, with no misleading or fraudulent elements[107]. Future Outlook - The group plans to implement proactive marketing strategies and enhance cost control measures to overcome challenges in the property management service sector[56]. - The group faced risks related to legal actions and claims, but the directors believe that any existing claims and legal proceedings will not have a significant financial impact as of December 31, 2023[55].
雅居投资控股(08426) - 2023 - 年度业绩