Financial Performance - GBA Holdings Limited recorded revenue of approximately HKD 78.4 million for the year ended December 31, 2023, representing an increase of about 41.2% compared to approximately HKD 55.5 million in 2022[4]. - The loss attributable to equity holders for the year was HKD 98.4 million, a decrease of approximately 44.1% from HKD 176.1 million in the previous year[4]. - The group recorded a loss of approximately HKD 100,800,000 during the current period, an improvement from a loss of approximately HKD 175,700,000 in the previous year[29]. - The company reported a net loss of HKD 101,059,000 for the year, a reduction of 42.5% from a net loss of HKD 176,074,000 in 2022[72]. - Total comprehensive loss for the year amounted to HKD 112,957 thousand, down from HKD 219,473 thousand in the prior year, reflecting improved financial performance[74]. - The total loss before tax for 2023 was HKD 100,833,000, compared to a loss of HKD 175,742,000 in 2022, indicating an improvement of 42.6%[90]. - The group’s loss before tax for 2023 was HKD 98,407,000, compared to HKD 176,074,000 in 2022, indicating a reduction in losses[105]. Revenue Breakdown - The financial services segment generated revenue of approximately HKD 5.9 million, up from HKD 5.2 million in the previous year, indicating growth in the loan portfolio[12]. - The automotive business recorded revenue of approximately HKD 11.7 million, a decrease from HKD 25.7 million in the previous year, reflecting a diversification effort[13]. - The restaurant and food-related business generated revenue of approximately HKD 36.5 million for the year ended December 31, 2023[14]. - Revenue from the real estate business remained stable, contributing approximately HKD 24,300,000, accounting for about 31.0% of total revenue[18]. - The restaurant and food-related business contributed approximately HKD 36,500,000, representing about 46.6% of total revenue, compared to zero in the previous year[18]. - Real estate business revenue was HKD 24,282,000, slightly down from HKD 24,609,000 in 2022, representing a decrease of 1.3%[97]. - Automotive business revenue decreased significantly to HKD 11,700,000 from HKD 25,740,000, a decline of 54.5%[97]. - Restaurant operations generated HKD 28,934,000 in revenue, with no prior year comparison available[97]. Cost and Expenses - The cost of revenue decreased to HKD 82,981,000 from HKD 118,768,000, resulting in a gross loss of HKD 4,600,000, significantly improved from a gross loss of HKD 63,251,000 in the previous year[72]. - Administrative expenses decreased by approximately 37.9% from about HKD 45,200,000 to about HKD 28,100,000, mainly due to reduced building management fees and director remuneration[28]. - Administrative expenses decreased to HKD 28,087,000 from HKD 45,230,000, reflecting a cost-saving strategy[72]. - The company incurred financing costs of HKD 1,501,000, a significant increase from HKD 84,000 in the previous year[72]. - The financing costs rose significantly to HKD 1,501,000 in 2023 from HKD 84,000 in 2022, representing an increase of approximately 1,684.5%[100]. Assets and Liabilities - The group's current assets totaled approximately HKD 517,300,000 as of December 31, 2023, down from approximately HKD 583,000,000 as of December 31, 2022[30]. - The current ratio as of December 31, 2023, was approximately 449.82%, compared to about 776.48% as of December 31, 2022[30]. - Non-current assets increased to HKD 212,874 thousand in 2023 from HKD 170,701 thousand in 2022, driven by significant investments in property and goodwill[76]. - Current assets decreased to HKD 517,319 thousand in 2023 from HKD 582,978 thousand in 2022, primarily due to a reduction in properties under development[76]. - Shareholders' equity attributable to the company decreased to HKD 615,332 thousand in 2023 from HKD 678,599 thousand in 2022, reflecting a decline in reserves[78]. - Total liabilities increased to HKD 121,603 thousand in 2023 from HKD 75,080 thousand in 2022, indicating a rise in financial obligations[78]. Strategic Initiatives - The company anticipates improved sales in the real estate sector in 2024 due to increased government support for the industry[16]. - The overall business outlook for 2024 is stable or slightly improved, driven by expected declines in interest rates and a slight increase in consumer demand[16]. - The company aims to expand its financial services, including real estate mortgages and luxury goods financing, to enhance revenue stability[12]. - The company is pursuing expansion strategies, including the acquisition of UFL and CVEI, both involved in the restaurant business, for a total consideration of HKD 9,000,000[40]. - The company completed a rights issue on September 21, 2023, raising approximately HKD 50,230,000, with net proceeds of about HKD 48,300,000 after expenses[42]. - The net proceeds from the rights issue are allocated for general working capital, investment in food and beverage-related businesses, live streaming business, and expansion of financial services[52]. - The company acquired 100% equity of CVEI for HKD 4,500,000 on March 17, 2023, which will become a wholly-owned subsidiary[51]. Corporate Governance - The board of directors is committed to high standards of corporate governance and transparency[55]. - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting standards[65]. - The remuneration committee is responsible for reviewing the compensation policies for the board and senior management, ensuring alignment with corporate governance standards[63]. - There were changes in the board composition, including the appointment and resignation of several directors throughout 2023[61]. Shareholder Information - The company does not recommend the distribution of a final dividend for the year ended December 31, 2023, consistent with the previous year[4]. - The company had no dividends declared for the year ending December 31, 2023, consistent with 2022[104]. - Basic and diluted loss per share improved to HKD 0.145 from HKD 0.360 in the previous year[72]. - The average number of ordinary shares used for calculating basic and diluted loss per share increased to 677,194,836 in 2023 from 488,687,111 in 2022 due to share consolidation and rights issue[105].
GBA集团(00261) - 2023 - 年度业绩