Financial Performance - For the fiscal year ending December 31, 2023, total revenue was HKD 383,923,000, a decrease of 8.8% compared to HKD 420,904,000 in the previous year[3]. - Gross profit for the year was HKD 165,807,000, representing an increase of 5.4% from HKD 157,020,000 in the prior year[3]. - The net profit attributable to the company's shareholders was HKD 65,701,000, a significant recovery from a loss of HKD 38,501,000 in the previous year[4]. - Basic earnings per share for the year were HKD 19.53, compared to a loss per share of HKD 58.72 in the previous year[3]. - The total comprehensive income for the year was HKD 52,431,000, compared to a loss of HKD 58,662,000 in the previous year[4]. - Revenue from toy and gift sales for the year 2023 was HKD 262,377,000, compared to HKD 293,042,000 in 2022, representing a decrease of approximately 10.5%[25]. - Revenue from traditional Chinese medicine products for 2023 was HKD 121,546,000, down from HKD 127,862,000 in 2022, indicating a decline of about 4.3%[25]. - The company reported a net profit of HKD 65,701 for the year, compared to a net loss of HKD 38,501 in the previous year[30]. - The company reported a profit of HKD 37,213,000 for the year ending December 31, 2023, compared to a loss of HKD 59,521,000 in the previous year[47]. Expenses and Costs - Administrative expenses increased to HKD 86,381,000 from HKD 78,805,000, reflecting a rise of 9.9%[3]. - The company recognized an impairment loss of HKD 34,314,000 on investments in joint ventures, which was not present in the previous year[3]. - The company incurred financial costs of HKD 25,417 in 2023, down from HKD 45,840 in 2022, indicating a decrease of 44.7%[30]. - The company experienced a significant increase in administrative expenses related to legal and professional fees, totaling HKD 3,045,000, compared to HKD 3,806,000 in the previous year[44]. - The cost of goods sold for the year was HKD 21,827,000, reflecting an increase from HKD 2,778,000 in the previous year[44]. - Sales and distribution costs for the year were approximately HKD 37,300,000, a decrease from HKD 47,100,000 in 2022, primarily due to reduced salary costs in the toy division[96]. Assets and Liabilities - Total assets decreased from HKD 486,629,000 in 2022 to HKD 454,819,000 in 2023, a decline of approximately 6.5%[6]. - Non-current assets decreased from HKD 310,336,000 in 2022 to HKD 246,969,000 in 2023, a decrease of about 20.4%[6]. - Current assets increased from HKD 393,310,000 in 2022 to HKD 315,462,000 in 2023, a decrease of approximately 19.8%[6]. - Total liabilities decreased from HKD 473,536,000 in 2022 to HKD 277,349,000 in 2023, a reduction of approximately 41.4%[7]. - The company's equity attributable to owners increased from HKD 185,734,000 in 2022 to HKD 214,208,000 in 2023, an increase of about 15.4%[7]. - The company's total non-current liabilities decreased from HKD 121,395,000 in 2022 to HKD 152,956,000 in 2023, an increase of approximately 25.9%[7]. - The company's total equity remained stable at HKD 339,976,000 in 2023 compared to HKD 285,008,000 in 2022, reflecting a growth of about 19.3%[7]. - The company reported a significant increase in cash reserves, indicating improved liquidity and financial health[6]. Market and Strategic Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4]. - The group plans to expand its market presence in the tourism and tea-related product sectors, leveraging its strategic business segments[28]. - The company is focusing on cost management strategies to improve profitability moving forward[44]. - The group has a positive outlook on the growth of the liquor industry in China, particularly in Huangjiu products, and intends to invest further in this sector[88]. Compliance and Governance - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, including HKFRS 17 on insurance contracts[13]. - The group anticipates that the application of the new and revised standards will not have a significant impact on its financial position and performance[16]. - The audit committee has reviewed the full-year performance announcement for the year ending December 31, 2023, ensuring compliance with financial reporting standards[123]. - The company has adhered to all applicable corporate governance code provisions, except for a specific deviation regarding independent non-executive directors' attendance at the annual general meeting[119]. Share Capital and Financing - The company completed a share consolidation on June 27, 2022, reducing the number of shares from 198,605,703,079 to 39,721,140,615[58]. - The company issued a total of 691,115,793 new ordinary shares at a price of HKD 0.205 per share to repay outstanding debts, raising approximately HKD 139,436,000 after transaction costs[65]. - The company implemented a share consolidation on April 28, 2023, where every five existing shares with a par value of HKD 0.01 were consolidated into one share with a par value of HKD 0.05[65]. - The company has outstanding convertible notes totaling HKD 92,000,000, which were issued as part of the acquisition of a 20% stake in Eagle Group[56]. - The company completed the placement of convertible bonds totaling up to HKD 45,000,000[108]. Employee and Operational Metrics - As of December 31, 2023, the company employed 387 staff, a decrease from 399 staff in 2022, indicating a reduction of approximately 3% in workforce size[117]. - The company plans to continue providing competitive compensation and benefits, with annual reviews based on individual performance and industry practices[117].
侨雄国际(00381) - 2023 - 年度业绩