Financial Performance - For the fiscal year ending December 31, 2023, total revenue reached HKD 774,888,000, a significant increase from HKD 279,213,000 in the previous 15-month period, representing a growth of approximately 177%[3] - Gross profit for the year was HKD 159,709,000, compared to HKD 63,147,000 in the previous period, indicating a gross margin improvement[3] - The company reported a net loss of HKD 266,359,000 for the year, a decrease from a net loss of HKD 868,976,000 in the previous period, reflecting a reduction in losses by approximately 69%[3] - Basic earnings per share for the year were reported at HKD (179.0), compared to HKD 61.9 cents in the previous period, showing a significant decline in earnings per share[3] - The company reported a total comprehensive loss of HKD 919,580,000 for the year ended December 31, 2023, compared to a loss of HKD 66,129,000 in the previous year, indicating a significant increase in losses[4] - The company experienced a net loss attributable to shareholders of HKD 912,234,000, compared to a loss of HKD 63,181,000 in the prior year, highlighting a worsening financial position[4] - The company reported a profit attributable to shareholders of approximately HKD 263,500,000 for the year ending December 31, 2023, reversing a loss of HKD 860,500,000 from the previous period[76] Operational Expenses - Research and development expenses totaled HKD 55,478,000, up from HKD 24,773,000 in the previous period, indicating an increase in investment in innovation[3] - The company incurred selling and administrative expenses of HKD 19,490,000, compared to HKD 10,959,000 previously, reflecting a rise in operational costs[3] - The company recorded a significant impairment loss on goodwill amounting to HKD 410,210,000, compared to HKD 107,824,000 in the previous period[21] - The group reported a pre-tax loss of HKD 72,691,000 for the current period, compared to a loss of HKD 439,252,000 in the previous period, showing an improvement of 83%[21] Strategic Focus and Future Guidance - The company aims to expand its market presence and is focusing on new product development as part of its growth strategy[2] - Future guidance indicates a continued focus on improving operational efficiency and reducing net losses in the upcoming fiscal year[2] - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[2] - The financial results indicate a need for strategic reassessment and potential market expansion to recover from the losses incurred[4] - The company is focusing on new product development and technology advancements to enhance future performance[4] - The group is actively exploring the luxury electric vehicle market, demonstrating a commitment to continuous innovation and sustainable development[70] Asset Management and Liabilities - Non-current assets decreased from HKD 3,593,315 thousand in 2022 to HKD 3,200,329 thousand in 2023, representing a decline of approximately 10.9%[6] - Current assets decreased from HKD 1,340,514 thousand in 2022 to HKD 719,340 thousand in 2023, indicating a reduction of about 46.4%[6] - The company's total assets decreased to HKD 3,394,916,000 from HKD 4,314,939,000, indicating a decline of about 21.3% year-over-year[7] - The total liabilities and equity structure indicates a significant shift in asset management strategies[6] - As of December 31, 2023, total current liabilities amounted to HKD 524,753,000, a decrease from HKD 618,890,000 in the previous year, representing a reduction of approximately 15.2%[7] Share Capital and Corporate Governance - The company executed a share consolidation, merging every twenty shares with a par value of HKD 0.1 into one share with a par value of HKD 2.0, effective December 14, 2023[38] - The company reported a total issued share capital of 480,655,000 shares as of December 31, 2023, down from 9,613,099,000 shares due to the share consolidation[37] - The company’s share capital was reduced from HKD 2.00 to HKD 0.01 per share due to the consolidation, impacting the total issued share capital[38] - The company has complied with the corporate governance code as per the listing rules during the year[112] - The Audit Committee has been established with four independent non-executive directors, including the chairman Zhang Zhenming[115] Market Trends and Industry Insights - The global top-tier supercar market is expected to grow from approximately $19.16 billion in 2023 to $25.6 billion in 2024, with a compound annual growth rate (CAGR) of 33.6% driven by advanced technology and high-net-worth consumer demand[41] - The global luxury car market was valued at $483.84 billion in 2023 and is projected to reach $744.20 billion by 2032, with a CAGR of 4.9% from 2024 to 2032, fueled by technological advancements and increased disposable income[42] - In 2023, global deliveries of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) reached 14.2 million units, representing a year-over-year growth of 35%, with 10 million being BEVs and 4.2 million being PHEVs[44] - China maintained its position as the largest electric vehicle market globally for nine consecutive years, with sales reaching 8.4 million units, accounting for 59% of global sales[45] Corporate Transactions and Developments - The company completed the sale of Ideenion Group for a total consideration of €15,000,000, approximately HKD 124,350,000, with recognized revenue of HKD 6,590,000 for the year ending December 31, 2023[40] - The company also completed the sale of Sheng Da Hang Limited for a total consideration of HKD 408,000,000, with recognized revenue of HKD 18,163,000 for the year ending December 31, 2023[40] - The company entered into an agreement to acquire WM Motor for US$2,023,270,000 (approximately HKD 15,853,710,000), which constitutes a very significant acquisition under the listing rules[93] - The acquisition agreement for WM Motor was terminated on September 8, 2023, due to global market volatility and geopolitical conflicts[95] Employee and Operational Changes - As of December 31, 2023, the total number of employees was 42, down from 139 on December 31, 2022, with employee costs amounting to approximately HKD 66.6 million for the year[101] - The company has no significant future investment or capital asset plans beyond what has been disclosed[102]
APOLLO出行(00860) - 2023 - 年度业绩