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华星控股(08237) - 2023 - 年度业绩
LINK HOLDINGSLINK HOLDINGS(HK:08237)2024-03-28 14:56

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 58,332,269, an increase from HKD 33,331,520 in the previous year, representing a growth of approximately 74.9%[5] - The cost of sales for the year was HKD 20,627,504, compared to HKD 15,973,959 in the prior year, indicating an increase of about 29.5%[5] - Gross profit for the year was HKD 37,704,765, up from HKD 17,357,561, reflecting a significant increase of approximately 117.5%[5] - The company incurred a net loss of HKD 88,563,806 for the year, compared to a loss of HKD 55,069,702 in the previous year, which is an increase in loss of about 60.8%[5] - Other income for the year was HKD 1,557,028, down from HKD 2,589,701, representing a decrease of approximately 39.8%[5] - The company reported a net loss attributable to shareholders of HKD 88,245,082 for 2023, compared to a loss of HKD 54,289,081 in 2022, indicating a deterioration in financial performance[6] - The basic and diluted loss per share for 2023 was HKD 2.15, compared to HKD 1.56 in 2022, reflecting a 37.7% increase in losses per share[6] - The company reported a total loss before income tax of HKD 54,756,853, with centralized management expenses and financing costs amounting to HKD 24,333,971[55] - The company reported a total loss before tax of HKD 87,138,895 for the year ended December 31, 2023, compared to a loss of HKD 54,756,853 in the previous year[80] - The company’s total comprehensive loss for the year was significantly affected by the increase in tax expenses and losses reported[80] Revenue Breakdown - Total revenue for the year ended December 31, 2023, was HKD 92,255,450, a significant increase from HKD 72,428,586 in 2022, representing a year-over-year growth of approximately 27.4%[6] - Total revenue for the hotel operations and distressed asset management reached HKD 58,332,269 for the year ending December 31, 2023, compared to HKD 33,331,520 for the previous year, representing a year-over-year increase of approximately 75%[45] - The external revenue from hotel operations in Singapore was HKD 55,732,364, while the external revenue from Japan was HKD 2,599,905, contributing to the overall revenue[52] - Room revenue for the year was approximately HKD 48.0 million, accounting for about 82.3% of total hotel operating revenue, compared to 73.2% in the previous year[105] - Food and beverage revenue was approximately HKD 4.1 million in 2023, maintaining a 7.1% share of total hotel operating revenue[110] Expenses and Liabilities - The company experienced a significant increase in administrative expenses, which rose to HKD 78,606,222 from HKD 38,395,916, marking an increase of about 104.5%[5] - The financial costs for the year were HKD 38,928,510, compared to HKD 22,374,114 in the previous year, indicating an increase of approximately 74.1%[5] - Current liabilities increased to HKD 489,329,901 in 2023, compared to HKD 422,380,935 in 2022, representing a rise of about 15.8%[8] - The total liabilities for the year 2023 were HKD 544,340,064, an increase from HKD 469,013,533 in 2022[63] - The company incurred a total of HKD 38,928,510 in interest expenses, with significant contributions from centralized management costs[65] Assets and Equity - Non-current assets totaled HKD 550,629,930 as of December 31, 2023, slightly up from HKD 549,555,481 in 2022[8] - Current assets amounted to HKD 66,312,651, a decrease from HKD 67,730,988 in the previous year, indicating a decline of approximately 2.1%[8] - The company’s total equity was HKD 72,602,517, down from HKD 148,272,936 in the previous year[15] - The company’s total assets decreased significantly, reflecting a challenging operational environment due to the COVID-19 pandemic[15] Future Outlook and Strategies - The company plans to focus on market expansion and new product development to improve future performance[5] - Management is actively negotiating with financial institutions for long-term secured loan financing to refinance current liabilities[142] - The company is exploring options to extend existing loan terms and defer the potential conversion of convertible bonds[144] - The company is reviewing its hotel and investment portfolio to enhance project profitability and potentially introduce strategic partners for additional capital[147] - Management is cautiously optimistic about the future outlook, anticipating a strong recovery in the travel industry due to ongoing global vaccination efforts and the gradual easing of travel restrictions[153] Compliance and Governance - The company must comply with all resumption guidelines and rectify issues that led to the suspension of trading to regain approval for its securities trading[160] - The company has received a non-issue opinion from auditors regarding the appropriateness of the going concern assumption due to net losses and current liabilities[135] - The company has established a financing agreement to manage its assets and liabilities effectively[171] - The company is subject to specific remedial periods as per the GEM listing rules, which may be shortened under certain circumstances[161] Shareholder and Market Activities - The company completed the sale of 1,900,000,000 shares for a total consideration of HKD 37,000,000, equivalent to approximately HKD 0.01947 per share on February 15, 2023[166] - Following the sale of 167,540,000 shares at HKD 0.02 each, the public shareholding has been restored to approximately 25.19% of the total issued shares, complying with GEM listing rules[191] - The company has received a temporary exemption from strict compliance with GEM listing rules to ensure sufficient public float[190] - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the year[192]