Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately 105.8 million Macanese Patacas, an increase of about 93.9% compared to 54.6 million Macanese Patacas in the same period last year[10]. - The loss for the year ended December 31, 2023, was approximately 27.8 million Macanese Patacas, a reduction of about 60.5% from a loss of 70.6 million Macanese Patacas for the year ended December 31, 2022[10]. - Basic loss per share for the year ended December 31, 2023, was approximately 5.5 Macanese cents, down from 13.98 Macanese cents for the year ended December 31, 2022[10]. - Total comprehensive loss for the year was MOP (28,437) thousand, down from MOP (70,109) thousand in 2022, showing a 59% decrease[4]. - The group recorded a net loss of approximately 27.8 million MOP for the year ending December 31, 2023, a decrease of about 42.8 million MOP compared to a loss of approximately 70.6 million MOP for the previous year[131]. Revenue Sources - Revenue for 2023 was MOP 105,848 thousand, a significant increase from MOP 54,594 thousand in 2022, representing a growth of 94%[41]. - Revenue from renovation services was 105,456 thousand MOP in 2023, a substantial increase from 54,594 thousand MOP in 2022, reflecting a growth of approximately 93%[71]. - Revenue from renovation services accounted for approximately 99.3% and 99.6% of total revenue for the years ended December 31, 2022, and December 31, 2023, respectively[98]. - Major client B contributed 71,120 thousand MOP in revenue in 2023, a significant increase from 12,105 thousand MOP in 2022, showcasing a growth of approximately 485%[75]. Cost Management - The group plans to continue implementing cost control measures, including optimizing human resources and controlling capital expenditures, to reduce cash outflows[23]. - The company’s administrative expenses increased to MOP (42,363) thousand in 2023 from MOP (31,656) thousand in 2022, a rise of 34%[4]. - Subcontracting costs increased by approximately 21.6 million MOP or 24.1%, totaling about 111.1 million MOP for the year ending December 31, 2023, indicating a rise in costs associated with increased revenue[125]. Assets and Liabilities - As of December 31, 2023, the group had accumulated losses of approximately 210.4 million Macanese Patacas, compared to 182.7 million Macanese Patacas in 2022[22]. - The group’s total assets minus current liabilities were reported at (15.9) million Macanese Patacas, compared to 12.6 million Macanese Patacas in the previous year[14]. - The company’s total liabilities as of December 31, 2023, were reported at 83.1 million Macanese Patacas, a decrease from 88.2 million Macanese Patacas in the previous year[115]. - Trade receivables as of December 31, 2023, totaled 127.3 million Macanese Patacas, with a provision for impairment losses of 32.2 million Macanese Patacas[109]. Cash Flow and Financing - Cash and cash equivalents were approximately 4.5 million Macanese Patacas, slightly down from 4.7 million Macanese Patacas in 2022[22]. - The total borrowings of the group were approximately 62.7 million Macanese Patacas, down from 81.2 million Macanese Patacas in 2022[22]. - The company is currently negotiating with multiple financial institutions for the extension of existing bank financing to support operational funding in the foreseeable future[38]. - The group has adopted a prudent cash management policy to ensure sufficient liquidity for operational needs and to maintain reasonable financing costs[163]. Dividend Policy - The company does not recommend the payment of a final dividend for the year ended December 31, 2023[10]. - The company did not recommend paying dividends to ordinary shareholders as of December 31, 2023, consistent with the previous year[108]. - The company has no predetermined dividend payout ratio, and any future dividend declaration will be at the discretion of the board of directors[171]. Operational Challenges - The group is facing multiple uncertainties related to its ongoing operations[179]. - The company has taken measures to alleviate liquidity pressure and improve its financial condition, including actively bidding for potential projects to increase future revenue[60]. - The company is focused on enhancing its operational environment and construction activities in Macau, which are gradually returning to normal post-pandemic[60]. Audit and Compliance - The audit committee reviewed the financial performance and internal controls as of December 31, 2023[189]. - The financial statements have been agreed upon by the group's auditor, but no assurance has been provided regarding the preliminary announcement[188].
伟鸿集团控股(03321) - 2023 - 年度业绩