Financial Performance - For the year ended December 31, 2023, the company reported total revenue of HKD 48,831,000, an increase of 3.4% from HKD 47,236,000 in 2022[4] - Gross profit for the same period was HKD 28,828,000, representing a 10.3% increase compared to HKD 26,147,000 in 2022[4] - The company recorded a net loss of HKD 8,791,000 for 2023, an improvement from a net loss of HKD 13,814,000 in 2022, indicating a reduction in losses by approximately 36.6%[5] - The total net loss before tax for the year was HKD 9,360,000, an improvement from a loss of HKD 13,857,000 in the previous year[34] - The group reported a pre-tax loss of HKD 1,465,000 in 2023, compared to a gain of HKD 1,176,000 in 2022[48] - The company reported a basic and diluted loss per share of HKD (1.61) for 2023, compared to HKD (2.00) in 2022, indicating an improvement in performance[52] Assets and Liabilities - The total assets decreased to HKD 136,201,000 in 2023 from HKD 168,637,000 in 2022, reflecting a decline of about 19.2%[7] - The company's total liabilities decreased to HKD 92,589,000 in 2023 from HKD 114,102,000 in 2022, a reduction of approximately 18.8%[8] - The company’s cash and cash equivalents decreased to HKD 66,826,000 in 2023 from HKD 81,742,000 in 2022, a decline of about 18.2%[7] - The total non-current assets in China were HKD 55,081,000 as of December 31, 2023, compared to HKD 68,704,000 in 2022[40][42] - The group's debt as of December 31, 2023, was approximately HKD 50.8 million, a decrease from HKD 72.5 million as of December 31, 2022, resulting in a leverage ratio of approximately 37.27%[86] Revenue Segmentation - The healthcare and medical segment generated approximately HKD 6,897,000 in revenue, while the beauty and fitness segment reported a loss of HKD 7,510,000 for the year ended December 31, 2023[34] - The healthcare and medical business generated revenue of HKD 31,212,000, while the beauty and fitness business contributed HKD 17,619,000 in 2023[43] - The group recognized other income of approximately HKD 5,066,000 in the healthcare and medical segment for the year ended December 31, 2023, compared to zero in 2022[35] Expenses and Cost Management - The company’s administrative expenses decreased to HKD 21,989,000 in 2023 from HKD 23,821,000 in 2022, a reduction of about 7.7%[4] - The group's direct costs and operating expenses for the year were approximately HKD 20,003,000, a decrease of about 5.15% compared to HKD 21,089,000 in 2022, primarily due to reduced merchandise costs[69] - Selling expenses for the year were approximately HKD 13,270,000, an increase of about 4.93% from HKD 12,647,000 in 2022, consistent with revenue growth[72] Accounting Policies and Standards - The group has applied new and revised Hong Kong Financial Reporting Standards for the first time starting from January 1, 2023, including HKFRS 17 on insurance contracts[16] - The application of HKAS 12 revisions has narrowed the exemption scope for deferred tax liabilities and assets, impacting the recognition of temporary differences[20] - The group anticipates that the application of the revised standards will not have a significant impact on its financial position or performance[21] - The revised HKAS 1 and HKFRS Practice Statement 2 clarify the definition of significant accounting policy information, which may influence financial reporting[17] - The group has adopted a new accounting policy for the disclosure of significant accounting policy information, which may affect how financial reports are interpreted[18] Operational Developments - The company continues to focus on expanding its healthcare and wellness services, aiming to enhance its market presence and product offerings in the coming years[11] - The healthcare and medical business faced increased operating expenses due to market competition and health measures implemented to mitigate pandemic threats[64] - Future expansion plans for the healthcare business have been slowed down due to the impact of healthcare reforms initiated in 2021[67] - The company has no intention to commit to any significant acquisitions or expansion plans until market responses to reforms stabilize[67] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year, confirming compliance with applicable accounting standards and listing rules[112] - The financial figures in the preliminary performance announcement have been verified by the group's auditor, ensuring consistency with the audited consolidated financial statements[113] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, with the annual report to be sent to shareholders by April 30, 2024[114] Employee and Community Engagement - The group employed 179 employees in Hong Kong and China as of December 31, 2023[102] - The company expresses gratitude to its directors, employees, shareholders, customers, suppliers, banks, and business partners for their ongoing support[116]
格林国际控股(02700) - 2023 - 年度业绩