Revenue Performance - Revenue from major customers in 2023 was significantly lower, with Customer A generating HKD 14,978,000 compared to HKD 24,360,000 in 2022, a decrease of 38.5%[2] - The total revenue from Customer B dropped from HKD 43,828,000 in 2022 to HKD 19,401,000 in 2023, reflecting a decline of 55.7%[2] - The company's revenue for the year ended December 31, 2023, was approximately HKD 66,300,000, a decrease of about 48.2% compared to HKD 128,000,000 for the year ended December 31, 2022[38] - Total revenue for the year 2023 was HKD 66,288,000, a decrease of 48.3% compared to HKD 128,035,000 in 2022[152] - Revenue from the clothing and beauty products segment contributed approximately 51.9% of total revenue, while the second-hand computer components segment contributed about 27.9%[38] - Revenue from the sale of clothing and beauty products was HKD 34,379,000, down 49.5% from HKD 68,188,000 in the previous year[152] - Revenue from the Chinese market (including Hong Kong) was HKD 38,798,000, down 47.1% from HKD 73,107,000 in the previous year[136] Profitability and Financial Performance - The group reported a profit before tax of HKD 40,184,000 in 2023, a turnaround from a loss of HKD 57,354,000 in 2022[6] - Basic earnings per share for 2023 were HKD 40,070,000, compared to a loss of HKD 56,992,000 in 2022[10] - The operating profit for the year was approximately HKD 15,200,000, down about 5.0% from HKD 16,000,000 in 2022[29] - The net profit for the year was HKD 40,065 thousand, compared to a net loss of HKD 57,354 thousand in 2022, marking a substantial improvement[110] - The gross profit for the year was HKD 15,195 thousand, down from HKD 15,999 thousand in the previous year, indicating a decrease of about 5.0%[110] - The expected credit loss provision recovery amounted to approximately HKD 18,300,000, contributing to the net profit of approximately HKD 40,000,000 for the year[29] Cost Management - The total financial costs decreased from HKD 292,000 in 2022 to HKD 179,000 in 2023, a reduction of 38.7%[3] - The group recorded a significant reduction in the cost of goods sold, from HKD 112,036,000 in 2022 to HKD 51,093,000 in 2023, a decrease of 54.4%[8] Assets and Liabilities - The total assets of the group as of December 31, 2023, are valued at approximately HKD 264,025,000[53] - The total assets decreased from 281,698 thousand HKD in 2022 to 263,687 thousand HKD in 2023, reflecting a reduction of about 6.4%[125] - The company's cash and bank balances decreased from 32,590 thousand HKD in 2022 to 28,366 thousand HKD in 2023, a decline of approximately 13.6%[125] - The company reported a total of HKD 155,193,000 in receivables, with a provision for expected credit losses of HKD 39,729,000[22] - The group reported total assets of HKD 166,624,000 and total liabilities of HKD 264,025,000 as of December 31, 2023[141] Credit and Receivables Management - Trade receivables decreased from HKD 68,100,000 in 2022 to HKD 33,933,000 in 2023, a decline of 50.2%[13] - The aging analysis of trade receivables showed a significant decrease in amounts overdue over 90 days, from HKD 24,983,000 in 2022 to HKD 13,398,000 in 2023[18] - The company’s expected credit loss provision for trade receivables was HKD (12,958) thousand, slightly improved from HKD (13,196) thousand in 2022[110] - The group has established credit policies and procedures for its lending business, which include credit risk assessment based on the borrower's background and financial strength[185] Dividends and Share Capital - The group did not declare any dividends for the year ending December 31, 2023, consistent with 2022[9] - The company has not declared a final dividend for the year ended December 31, 2023, consistent with the previous year[92] - As of December 31, 2023, the company's issued share capital was HKD 9,231,219, divided into 1,538,536,566 shares with a par value of HKD 0.006 per share[181] Strategic Outlook and Business Development - The company plans to continue exploring potential investments and business opportunities to broaden its revenue sources and further develop existing business segments[40] - The group is focusing on expanding its market presence and enhancing its product offerings in response to changing market conditions[139] - The group plans to utilize the remaining unspent proceeds for various operational and technological developments by the end of 2024[51] - The group is evaluating its different business segments and will reposition its strategy and operations in more optimistic segments due to the unpredictable business environment[175] Compliance and Governance - The company has maintained compliance with corporate governance codes throughout the year ended December 31, 2023[102] - The group did not violate any financial covenants related to interest-bearing borrowings during the years ending December 31, 2022, and 2023[148] - The group applied the revised Hong Kong Accounting Standard No. 1, which did not have a significant impact on its financial position or performance[134]
新确科技(01063) - 2023 - 年度业绩