Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 1,295,666,000, a decrease of 4.1% from HKD 1,350,367,000 in 2021[3] - Gross profit for the year was HKD 187,081,000, compared to HKD 145,936,000 in the previous year, reflecting an increase of 28.1%[3] - The total comprehensive loss for the year was HKD 237,230,000, significantly improved from HKD 455,853,000 in 2021[3] - The company reported a loss from continuing operations of HKD 246,058,000, down from HKD 460,096,000 in the prior year, indicating a reduction of 46.5%[3] - The company reported a loss of approximately HKD 246,058,000 for the year ending December 31, 2022, compared to a loss of HKD 456,757,000 in the previous year, indicating an improvement of about 46%[23] - The company’s loss attributable to shareholders from continuing operations was HKD 162,643,000, an improvement from HKD 359,902,000 in the prior year[23] - The company’s total comprehensive expenses for the year were HKD 237,230,000, down from HKD 455,853,000 in the previous year[23] - The company reported a pre-tax loss of HKD 245,894,000 for the year ended December 31, 2022, compared to a loss of HKD 359,902,000 in 2021, indicating an improvement[53] - For the fiscal year ending December 31, 2022, the company recorded a loss attributable to shareholders of approximately HKD 162,643,000, a decrease of about 54.81% compared to a loss of HKD 359,902,000 in the previous year[89] Debt and Liabilities - The bank loans and other borrowings increased to HKD 16,890,000 in 2022 from HKD 11,012,000 in 2021, representing a rise of 53.0%[9] - The total liabilities increased to HKD 3,523,078,000 in 2022 from HKD 3,386,005,000 in 2021, marking an increase of 4.1%[9] - The company reported a net debt of HKD 1,506,078,000, compared to HKD 1,268,848,000 in the previous year, indicating a rise of 18.7%[9] - The company’s current liabilities and net liabilities as of December 31, 2022, were approximately HKD 2,854,163,000 and HKD 1,506,078,000, respectively, indicating significant financial obligations[87] - The company's total liabilities increased from HKD 1,514,658,000 in 2021 to HKD 1,700,425,000 in 2022, an increase of approximately 12.3%[25] - The company has entered into a conditional restructuring agreement on February 21, 2023, to improve its financial situation and address due liabilities[27] Capital and Shareholder Equity - The company has proposed a capital reorganization to reduce the share premium account by approximately HKD 3,761,932,000 to zero[4] - The company aims to issue 11,086,710,807 new shares to settle debts with creditors, pending court approval[6] - The company’s equity attributable to owners decreased from HKD (1,140,732,000) in 2021 to HKD (1,326,499,000) in 2022, reflecting a decline in shareholder equity[25] - The company's equity deficit was approximately HKD 1,326,499,000, an increase from HKD 1,140,732,000 in 2021[114] Operational Changes and Business Segments - The company has ceased its mining resource trading business as of December 31, 2021, which is not included in the current financial reporting[18] - The mining segment generated revenue of HKD 179,534,000, while the chemical trading segment contributed HKD 1,170,833,000 to the total revenue[56] - The chemical trading business generated revenue of approximately HKD 1,074,334,000, down from HKD 1,170,833,000 in 2021[105] - For the year ended December 31, 2022, the mining business generated revenue of approximately HKD 221,332,000, an increase from HKD 179,534,000 in 2021[101] Cash Flow and Assets - Cash and cash equivalents decreased from HKD 20,733,000 in 2021 to HKD 11,344,000 in 2022, a reduction of approximately 45.3%[25] - Total assets decreased from HKD 2,117,157,000 in 2021 to HKD 2,017,000,000 in 2022, a decline of approximately 4.7%[25] - As of December 31, 2022, the group's current assets were approximately HKD 407,052,000, a decrease from HKD 460,370,000 in 2021[114] - The group recorded a cash outflow of approximately HKD 496,000 for the year ended December 31, 2022, compared to a cash inflow of HKD 3,360,000 in 2021[134] Corporate Governance and Compliance - The company has adhered to the corporate governance code and has complied with all applicable provisions, except for certain exceptions noted[144] - The independent auditor has confirmed that the financial statements align with the group's consolidated financial statements as of December 31, 2022[148] - The company has not established a nomination committee due to the current board composition and size[145] - The company has not appointed suitable candidates to fill the vacancies left by resigning directors within the stipulated timeframe[147] - The company shares have been suspended from trading since April 1, 2021, and will remain suspended until further notice[150] - The company has been ordered to undergo liquidation as of May 16, 2022, impacting its compliance with listing rules[165] Future Outlook and Strategy - The company is facing significant uncertainty regarding its ability to continue as a going concern, dependent on successful debt restructuring and obtaining new financing[15] - The company aims to expand its mineral resources and enhance operational efficiency to improve future financial performance and profitability[111] - The company plans to implement cost control measures, including reducing unnecessary expenses and administrative costs, in the coming years[6] - The company has successfully renewed its molybdenum mining license and plans to invest in upgrading production machinery to improve efficiency, safety, and environmental standards[109] - The domestic demand for molybdenum is expected to continue increasing, driven by the steel industry's transformation and the upgrade of production structures[110]
北方矿业(00433) - 2022 - 年度业绩