Financial Performance - The unaudited revenue for the year ended December 31, 2023, is HKD 765 million, a decrease of 5.8% from HKD 812 million in 2022[11]. - The gross profit for the same period is HKD 157 million, representing a significant increase of 52.4% compared to HKD 103 million in 2022[11]. - The net loss for the year is HKD 575 million, compared to a net loss of HKD 467 million in 2022, reflecting an increase in losses of 23.1%[11]. - The basic and diluted loss per share is HKD 0.43, compared to HKD 0.53 in the previous year, showing a decrease in loss per share of 18.9%[11]. - The group reported a net loss of HKD 575 million for the year, compared to a loss of HKD 467 million in the previous year[31]. - The group's operating loss for the year was HKD 575 million, an increase of 23.1% from the previous year's loss of HKD 467 million[117]. - The company recorded a net loss of HKD 575 million for the year, compared to a loss of HKD 467 million in the previous year[44][47]. - The loss attributable to equity holders of the parent company for 2023 was HKD 577 million, compared to HKD 465 million in 2022, representing a year-over-year increase of 24.1%[196]. Assets and Liabilities - The total liabilities amount to HKD 2,110 million, a slight decrease of 2.6% from HKD 2,166 million in the previous year[6]. - The total current liabilities have increased to HKD 1,234 million from HKD 807 million, marking a rise of 52.7%[6]. - Non-current assets decreased to HKD 1,668 million in 2023 from HKD 2,430 million in 2022, primarily due to a decline in investment properties[33]. - The group's total assets decreased to HKD 2,841 million in 2023 from HKD 3,339 million in 2022[33]. - The total assets amounted to HKD 3,339 million, with total liabilities of HKD 2,166 million, resulting in a net asset position of HKD 1,173 million[65]. - The group's net current liabilities were HKD 61 million, a decrease from net current assets of HKD 102 million in the previous year[128]. - The group had bank and other borrowings due within one year amounting to HKD 741 million, compared to HKD 405 million in 2022[127]. - The total assets with a book value of approximately HKD 1,814 million were pledged to banks as collateral for loans[130]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, was HKD 801 million, a decrease from HKD 812 million in 2022, representing a decline of approximately 1.36%[44]. - Revenue from external customers in Hong Kong, Macau, and mainland China was HKD 659 million, an increase from HKD 619 million in 2022, while revenue from other regions decreased to HKD 106 million from HKD 193 million[52]. - The Ferrari business segment generated revenue of HKD 358 million, while the Maserati business segment contributed HKD 131 million, showing a significant increase of 168.8% for Maserati compared to HKD 49 million in the previous year[44][55]. - The collectibles and logistics segment reported revenue of HKD 149 million, down from HKD 277 million in the previous year, indicating a decline of approximately 46.3%[55]. - The cultural entertainment segment generated revenue of HKD 72 million, an increase from HKD 62 million in 2022, reflecting a growth of about 16.1%[55]. - Revenue from Ferrari business was HKD 344 million, while Maserati business generated HKD 126 million, and the high-value collectibles and logistics business contributed HKD 149 million[71]. - Revenue from Hong Kong, Macau, and mainland China accounted for HKD 659 million, representing 86.1% of total revenue, with a year-on-year increase of 6.5%[124]. - Revenue from other regions decreased by 45.1%, totaling HKD 106 million, down from HKD 193 million in 2022[124]. Operational Insights - The company is currently working on cash flow forecasts and expects to publish the audited annual results by mid-April 2024[8]. - The company is committed to maintaining transparency and fulfilling regulatory requirements while working closely with auditors to finalize the annual results[8]. - The company achieved a total of HKD 55 million in other income, including HKD 19 million from the sale of subsidiaries and HKD 8 million from interest on receivables[81]. - The company maintained a strong market position, delivering approximately 60% of the total luxury sports cars in the market for the calendar year 2023[94]. - The company’s management expressed satisfaction with the continued positive momentum in its multifaceted automotive business despite challenging market conditions[93]. - The company plans to conserve cash reserves and implement cost-saving measures in response to the current challenging environment, with no dividends proposed for 2023[108][115]. - The company aims to leverage its experienced management team to navigate unprecedented challenges and pursue sustainable long-term growth[115]. Market Conditions and Future Outlook - The company anticipates a recovery in the property market in Hong Kong in the second half of 2024, driven by potential interest rate cuts and recent government measures[92]. - The global economic recovery post-pandemic remains slow, influenced by geopolitical instability, interest rate hikes, and persistent inflation, affecting recovery rates across various industries[200]. Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which may impact future financial reporting[20]. - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with the listing rules[156]. - The company’s independent non-executive directors confirmed their independence as per the listing rules, maintaining their eligibility[160]. - The company is committed to ensuring accurate financial reporting and governance practices as outlined in its corporate governance report[157]. Employee and Operational Changes - The total number of employees as of December 31, 2023, was 296, down from 325 in 2022[142]. - The company’s employee benefits expenses, excluding directors and CEO remuneration, rose to HKD 108 million in 2023 from HKD 92 million in 2022[169].
中建富通(00138) - 2023 - 年度业绩