Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 35,207,000, compared to HKD 18,898,000 for the previous year, representing an increase of approximately 86.5%[2] - The loss attributable to shareholders for the year was HKD 22,829,000, compared to a loss of HKD 14,308,000 in the previous year, indicating a worsening of approximately 59.5%[4] - Basic and diluted loss per share for the year was HKD 1.99, compared to HKD 1.25 in the previous year, reflecting an increase in loss per share of approximately 59.2%[5] - Total comprehensive loss attributable to shareholders for the year was HKD 23,604,754, compared to HKD 27,136,773 in the previous year, showing an improvement of approximately 13.5%[6] - The group reported a loss before tax of HKD 23,755,240 in 2023, compared to a loss of HKD 12,901,529 in 2022[21] - The group’s total loss for the year was HKD 22,829,072, increasing from a loss of HKD 14,307,797 in the previous year[21] - The company reported a net loss attributable to shareholders of approximately HKD 22.83 million for the year ended December 31, 2023, compared to a loss of approximately HKD 14.31 million in 2022, primarily due to losses from changes in fair value of investment properties and weak rental market conditions[45] Revenue Breakdown - Hotel business revenue reached HKD 31,315,108 in 2023, up 117.5% from HKD 14,386,432 in 2022[17] - Revenue from external customers in mainland China increased to 31,315,108 in 2023 from 14,386,432 in 2022, representing a growth of 117.5%[27] - The star-rated hotel segment generated revenue of approximately HKD 31.32 million for the year, up approximately 118% from HKD 14.39 million in 2022, attributed to the recovery of domestic consumption following the easing of pandemic restrictions[49] - The hotel management is actively expanding its catering business, which generated approximately HKD 12.63 million in revenue, a 102% increase from the previous year[52] Asset and Liability Management - Non-current assets decreased from HKD 373,449,314 in 2022 to HKD 348,644,936 in 2023, a decline of approximately 6.6%[8] - Current assets increased from HKD 40,987,607 in 2022 to HKD 41,555,735 in 2023, an increase of approximately 1.4%[8] - Total assets decreased from 414,436,921 in 2022 to 390,200,671 in 2023, a decline of approximately 5.2%[23] - Total liabilities decreased from 11,912,681 in 2022 to 11,281,185 in 2023, a reduction of about 5.3%[24] - The company's capital debt ratio was 2.98% as of December 31, 2023, compared to 2.67% in 2022, maintaining a low debt level[46] - The current ratio of the group was 3.68, down from 3.82 in 2022, indicating a slight decrease in liquidity[62] - The total equity of the group was approximately HKD 378.92 million, down from HKD 402.52 million in 2022[62] Investment and Fair Value Changes - The fair value loss on investment properties was HKD 7,800,000 in 2023, compared to HKD 900,000 in 2022[21] - The company reported a net decrease in the fair value of investment properties of 7,800,000 in 2023 compared to 900,000 in 2022, indicating a significant decline[29] - As of December 31, 2023, the fair value of the group's equity in Fujian Huamin Leasing was HKD 95.07 million, accounting for approximately 24.36% of the company's total assets[58] - The significant investment in Fujian Huamin Leasing resulted in a loss of approximately HKD 9.44 million due to fair value changes, with no dividend income earned during the year[76] - As of December 31, 2023, the group's investment properties were revalued at HKD 227.10 million by independent professional valuers[83] Operational Efficiency and Cost Management - The group’s administrative costs were HKD 6,748,996 in 2023, slightly up from HKD 6,576,677 in 2022[21] - The company aims to enhance internal management and control costs to minimize cash expenditures[46] - The group plans to strengthen supply chain management and control costs to improve operational efficiency and service capabilities[59] Employee and Corporate Governance - Employee benefits expenses rose to 13,407,499 in 2023 from 11,227,512 in 2022, an increase of approximately 19.5%[34] - The group employed approximately 131 staff in Hong Kong and Xiamen as of December 31, 2023, with compensation based on performance and market rates[77] - The board does not recommend any dividend distribution for the fiscal year ending December 31, 2023[79] - The board has conducted a review of the effectiveness of the internal control and risk management systems as of December 31, 2023[89] - The company emphasizes the importance of good corporate governance for maintaining investor confidence and sustainable development[91] - The board believes that the internal control and risk management systems are effective, with no significant deficiencies reported[91] Compliance and Reporting - The company ensures compliance with listing rules and other applicable regulations regarding disclosure responsibilities[93] - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2023[99] - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the company's website[98] - The company has a public float of at least 25% of its issued share capital as of the report date[97] Market Conditions - The occupancy rate for investment properties during the review period was only about 80% due to weak demand in the Hong Kong Grade A office market[54] - Hong Kong property rental income was approximately HKD 3.89 million, a decrease of about 14% compared to the same period last year[55]
闽港控股(00181) - 2023 - 年度业绩