Financial Performance - The group's revenue for the fiscal year 2023 was approximately HKD 332.2 million, representing an increase of about 25.5% compared to the previous year[9]. - The wine business generated significant revenue growth, increasing from approximately HKD 262.0 million in 2022 to about HKD 332.2 million in 2023[10]. - The food business reported no revenue in 2023, down from HKD 2.7 million in 2022, but the company remains optimistic about future opportunities in the food market[11]. - The wine business segment achieved revenue of approximately HKD 332.2 million in 2023, up 25.5% from approximately HKD 264.7 million in 2022[20]. - The company recorded a loss of approximately HKD 8.7 million in 2023, compared to a profit of approximately HKD 6.6 million in 2022[29]. - The company reported a net loss of HKD 8,699,000 for the year, compared to a profit of HKD 6,550,000 in the previous year, indicating a significant decline in profitability[175]. - Total comprehensive loss for the year was HKD 8,669,000, compared to a comprehensive income of HKD 6,013,000 in 2022[177]. Profitability and Margins - The gross profit margin for the wine business decreased from approximately 9.2% in 2022 to about 6.1% in 2023 due to discounts and promotional sales strategies[10]. - The wine business segment reported a profit of approximately HKD 0.8 million in 2023, down from approximately HKD 10.8 million in 2022[18]. - The gross profit margin decreased from approximately 9.2% in 2022 to approximately 6.1% in 2023 due to discounts and sales promotions[29]. Costs and Expenses - The cost of sales increased by approximately 29.9% to about HKD 312.0 million in 2023, up from approximately HKD 240.2 million in 2022[22]. - Administrative expenses decreased by approximately 15.8% to about HKD 9.6 million in 2023, down from approximately HKD 11.4 million in 2022[26]. - Financial costs increased by approximately 41.7% to about HKD 6.8 million in 2023, up from approximately HKD 4.8 million in 2022[27]. Assets and Liabilities - The company's total equity increased to approximately HKD 366.2 million in 2023 from approximately HKD 355.8 million in 2022[31]. - The company's total liabilities increased to HKD 129,716,000 from HKD 114,235,000, indicating a rise of 13.6%[179]. - The company's non-current assets decreased to HKD 46,076,000 from HKD 55,984,000, a decline of 17.7%[179]. Market and Business Outlook - The board anticipates that 2024 will be a challenging year for both the wine and food businesses due to potential global economic recession, but expects that the reopening of mainland China may revitalize the market[13]. - The company is actively seeking investment opportunities to diversify its business portfolio and expand revenue sources[13]. - The company faces significant market risks, including fluctuations in costs due to political and trade tensions affecting market sentiment[52]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balance of expertise and independence[114]. - The company has adopted a board diversity policy to enhance effectiveness, considering factors such as gender, age, cultural background, and professional experience[122]. - The roles of the chairman and CEO are clearly separated to ensure independence and accountability within the management structure[115]. - The audit committee includes three independent non-executive directors, enhancing oversight of risk management and internal controls[111]. Shareholder Information - The company did not declare or pay any interim dividends for the year, similar to the previous year[48]. - The board does not recommend the payment of a final dividend for the year, consistent with the previous year[49]. - The company has established a code of conduct for directors' securities transactions, ensuring compliance with trading standards[106]. Compliance and Regulations - The company is committed to environmental sustainability and adheres to relevant environmental laws and regulations[64]. - The company has complied with all relevant laws and regulations without any significant violations during the year[65]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[159]. Future Plans and Changes - The company plans to increase its authorized share capital from 1,000,000,000 shares to 10,000,000,000 shares by issuing an additional 9,000,000,000 shares[157]. - The company has adopted revised articles of association to comply with the latest legal and regulatory requirements, which were approved at the annual general meeting on June 8, 2023[157].
百利达集团控股(08179) - 2023 - 年度财报