Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 950,271,000, a significant increase from HKD 185,662,000 in 2022, representing a growth of approximately 411%[5] - Gross profit for the year was HKD 63,052,000, compared to HKD 33,754,000 in the previous year, indicating a growth of about 87%[5] - The net profit for the year was HKD 53,971,000, down from HKD 167,221,000 in 2022, reflecting a decrease of approximately 68%[5] - The group reported total revenue of HKD 950,271,000 for the year ended December 31, 2023, a decrease from HKD 1,185,662,000 in 2022, representing a decline of approximately 19.8%[24] - The group reported a pre-tax profit of approximately HKD 54.6 million, significantly down from HKD 252.5 million in the previous year[124] Assets and Liabilities - The company reported a significant increase in total assets, with net assets rising to HKD 282,236,000 from HKD 155,388,000 in the previous year, an increase of about 82%[8] - The group’s total liabilities as of December 31, 2023, amounted to HKD 504,108,000, with net current liabilities of HKD 52,994,000[30] - The company's non-current assets in Hong Kong decreased to HKD 38,187,000 in 2023 from HKD 54,310,000 in 2022, a decline of approximately 29.7%[55] - The total liabilities increased significantly, with current liabilities rising to HKD 42,458 thousand in 2023 from HKD 13,282 thousand in 2022[77] Cash Flow and Financing - The cash flow forecast covers a period of not less than 12 months from December 31, 2023, with available bank financing of HKD 72,000,000 and HKD 36,000,000 from external parties[20] - The group reported a net cash outflow from operating activities of HKD 58,951,000 as of December 31, 2023[30] - The group's cash and bank balance as of December 31, 2023, was approximately HKD 16,109,000[30] - Net cash inflow from financing activities was approximately HKD 50,400,000, compared to a net outflow of HKD 358,000,000 in 2022[145] Operational Efficiency - The company has implemented various cost control measures to tighten operational costs and is actively negotiating with external parties and banks to secure new financing sources[18] - The company recorded a decrease in administrative expenses to HKD 116,059,000 from HKD 154,641,000, a reduction of approximately 25%[5] - The company has recognized a gain from the termination of consolidation of subsidiaries amounting to HKD 102,996,000 for the year[5] Market Performance - Revenue from beauty, health, and lifestyle products was HKD 64,824,000 in 2023, down from HKD 75,481,000 in 2022, indicating a decrease of about 14.0%[24] - Revenue from technology products was HKD 885,447,000 in 2023, compared to HKD 110,181,000 in 2022, reflecting a significant decline of approximately 19.5%[24] - Despite a 20% decline in store sales, sales of technology products grew sevenfold compared to 2022, and e-commerce business increased by 2%[141] Shareholder Information - The basic and diluted earnings per share decreased to HKD 1.5 from HKD 4.8 in the previous year, a decline of approximately 69%[5] - The company did not recommend any interim or final dividends for the current and prior years[63] - The company is considering a dividend policy to enhance shareholder value, including the potential distribution of bonus shares or cash dividends[121] Strategic Initiatives - The company has established strategic partnerships for innovation and incubation in the beauty industry within the Greater Bay Area[98] - The group plans to continue transforming traditional beauty product retail into a new business ecosystem, including a full range of "beauty, health, and lifestyle" products[138] - The group aims to capture significant market opportunities in the Greater Bay Area and Asia with its new "Health" services, leveraging strategic discussions with top medical beauty experts[116] Corporate Governance - The company has established good corporate governance practices and adhered to the relevant rules throughout the year[175] - The audit committee has reviewed the consolidated financial statements for the year, aligning with the figures provided by the external auditor[163] - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023, in accordance with Hong Kong Financial Reporting Standards[183]
卓悦控股(00653) - 2023 - 年度业绩