Financial Performance - The company's revenue for the year ended December 31, 2023, was MOP 140,580,000, a decrease of 9.5% compared to MOP 155,013,000 in 2022[7] - Gross profit for the year was MOP 8,092,000, down 76.0% from MOP 33,822,000 in the previous year[7] - The company reported a loss before tax of MOP 15,991,000, compared to a profit of MOP 9,400,000 in 2022[7] - The net loss attributable to owners of the company was MOP 10,281,000, compared to a profit of MOP 15,382,000 in the previous year[9] - Total revenue for the group in 2023 was MOP 140,580,000, a decrease of 9.4% from MOP 155,013,000 in 2022[20] - Revenue from renovation contracts was MOP 90,756,000 in 2023, down 41.2% from MOP 154,109,000 in 2022[20] - Revenue from structural engineering contracts was MOP 49,794,000 in 2023, with no revenue reported in 2022[20] - The group reported a pre-tax loss of MOP 15,991,000 in 2023, compared to a pre-tax profit of MOP 9,400,000 in 2022[23][25] - The company reported a loss attributable to shareholders of MOP 10,281,000 in 2023, compared to a profit of MOP 15,382,000 in 2022[34] - Total revenue for 2023 was approximately MOP 140.6 million, a decrease of MOP 14.4 million or 9.3% from 2022[41] - Gross profit for 2023 was approximately MOP 8.1 million, down from MOP 33.8 million in the previous year[41] - The company reported a loss of approximately MOP 15.8 million for the year ended December 31, 2023, compared to a profit of approximately MOP 9.8 million for the year ended December 31, 2022[55] Assets and Liabilities - Total assets decreased to MOP 228,780,000 from MOP 278,767,000 in 2022, reflecting a decline of 17.9%[11] - Current liabilities decreased slightly to MOP 125,210,000 from MOP 126,512,000 in the previous year[11] - The company's net asset value as of December 31, 2023, was MOP 187,238,000, down from MOP 202,085,000 in 2022[11] - Trade receivables (net of loss provisions) decreased to MOP 12,564,000 in 2023 from MOP 17,072,000 in 2022[35] - Trade and other payables totaled MOP 99,001,000 in 2023, down from MOP 126,130,000 in 2022[38] - The current ratio decreased to 1.8 times as of December 31, 2023, down from 2.2 times in 2022[59] Expenses and Costs - Administrative expenses rose to MOP 28,093,000 in 2023, compared to MOP 22,177,000 in 2022[23][25] - The group recognized a loss provision of MOP 1,578,000 for loss-making contracts in 2023, compared to MOP 41,000 in 2022[32] - The group’s total employee costs decreased to MOP 19,004,000 in 2023 from MOP 26,500,000 in 2022[32] - Administrative expenses increased by approximately MOP 5.9 million to about MOP 28.1 million, primarily due to the expansion in the Chinese market[53] - As of December 31, 2023, the total employee cost was approximately MOP 19.0 million, a decrease from MOP 26.5 million in 2022, reflecting strict cost control measures[67] Business Strategy and Operations - The company plans to continue focusing on construction services and air purification systems as part of its business strategy moving forward[12] - The company plans to expand its construction business into the Greater Bay Area of China, anticipating increased demand for infrastructure development[42] - The company announced a strategic acquisition of a Hong Kong-based company holding licenses for securities advisory and asset management, aiming to diversify revenue sources[43] - The company will cease operations in the air purification product business due to declining demand post-COVID-19[44] - Air purification business revenue decreased by approximately MOP 0.9 million or 96.7% due to reduced demand for air purification devices/systems[46] - The company completed four renovation projects and two structural projects in 2023, with a total contract value of approximately MOP 200.3 million[41] - The revenue from renovation projects decreased by MOP 63.4 million or 41.1% in 2023, while revenue from structural projects increased by MOP 49.8 million or 100% due to market expansion in China[45] Governance and Compliance - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2023, confirming compliance with applicable accounting standards and listing rules[79] - The company has adhered to all relevant laws and regulations in Macau, Hong Kong, and China during the year[68] - The company has implemented a governance code in compliance with the listing rules, ensuring adherence to all mandatory disclosure requirements[73] Shareholder Information - The group did not declare or propose any dividends for both 2023 and 2022[33] - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[81] - The company will suspend the registration of share transfers from June 13, 2024, to June 18, 2024, inclusive[83] - Shareholders must ensure that all transfer documents are submitted by June 12, 2024, at 4:30 PM to be eligible to attend the annual general meeting[83] - The registration will be handled by the company's Hong Kong share transfer agent, BDO Limited[83] - The address for document submission is Room 2103B, 21/F, 148 Electric Road, North Point, Hong Kong[83] - No share transfer registrations will be processed during the suspension period[83] - The company emphasizes the importance of timely submission for voting eligibility at the annual general meeting[83] - The annual general meeting is scheduled for June 13, 2024[83] - The suspension period includes the first and last days of the registration process[83] - The company aims to ensure a smooth process for shareholders during the registration suspension[83] - All unregistered shareholders are advised to act promptly to secure their voting rights[83] Risks - Major risks include significant fluctuations in construction material and labor costs, which could severely impact operational performance and financial results[69]
奥邦建筑(01615) - 2023 - 年度业绩