Financial Performance - The group reported revenue of approximately HKD 139.2 million for the year ending December 31, 2023, representing a significant increase of approximately HKD 44.8 million or 47.5% compared to the previous year[5]. - Gross profit for the year was approximately HKD 21.8 million, a substantial increase of approximately 223.9% from a gross loss of HKD 17.6 million in the previous year[5]. - The net loss for the year was approximately HKD 12.4 million, a significant reduction of approximately 76.8% compared to a net loss of approximately HKD 53.5 million in the previous year[5]. - The group experienced a decrease in operating loss to approximately HKD 8.8 million from HKD 53.0 million in the previous year[8]. - The total comprehensive loss for the year was approximately HKD 12.9 million, down from HKD 57.9 million in the previous year[9]. - The group reported a net loss attributable to owners of the company of HKD 12,369,000 for the year ended December 31, 2023, compared to a loss of HKD 53,529,000 in 2022, showing an improvement in financial performance[37]. - The group reported a net loss of approximately HKD 12.4 million for the reporting period, a significant decrease of about HKD 41.1 million compared to a loss of HKD 53.5 million for the year ended December 31, 2022[67]. Revenue Breakdown - The group reported revenue from services of HKD 139,243,000 for the year ended December 31, 2023, compared to HKD 94,374,000 in 2022, representing a growth of approximately 47.4%[30]. - Revenue from Hong Kong was HKD 64,155,000 in 2023, up from HKD 48,864,000 in 2022, while revenue from China increased to HKD 74,929,000 from HKD 44,219,000[32]. - Revenue from Hong Kong was HKD 64,155,000 (46.1% of total revenue) in 2023, down from HKD 48,864,000 (51.8%) in 2022, indicating a decline in contribution[51]. - Revenue from China increased to HKD 74,929,000 (53.8% of total revenue) in 2023, up from HKD 44,219,000 (46.9%) in 2022, showing a significant growth of approximately 69.6%[51]. - Customer A contributed HKD 44,269,000 to total revenue in 2023, compared to HKD 15,778,000 in 2022, indicating a significant increase in dependency on this customer[32]. Expenses and Liabilities - Total service costs for the year were HKD 117,468,000, up from HKD 111,998,000 in 2022, reflecting an increase of about 4.2%[53]. - Financial expenses increased by approximately 51.1% to HKD 6,800,000 in 2023, up from HKD 4,500,000 in 2022, primarily due to increased borrowing costs[64]. - Administrative expenses slightly decreased by about 5.3% to HKD 23,100,000 in 2023 from HKD 24,400,000 in 2022, mainly due to a reduction in employee benefits[63]. - Current liabilities exceeded current assets by approximately HKD 10,950 million as of December 31, 2023, indicating significant liquidity concerns[20]. - Non-current liabilities increased from HKD 20,824 million in 2022 to HKD 32,896 million in 2023, representing a rise of approximately 57.9%[13]. - Cash and cash equivalents decreased from HKD 12,853 million in 2022 to HKD 7,344 million in 2023, a reduction of approximately 42.5%[11]. - The total equity decreased from HKD 71,263 million in 2022 to HKD 58,350 million in 2023, a decline of approximately 18.1%[11]. Dividends and Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ending December 31, 2023[6]. - The company did not declare or pay any dividends for the years ending December 31, 2023, and December 31, 2022[41]. - The company will hold its annual general meeting on May 31, 2024[93]. - The company will suspend the registration of share transfers from May 28, 2024, to May 31, 2024, to determine voting rights at the upcoming annual general meeting[96]. Strategic Initiatives - The company plans to implement strategies to improve profitability and operational efficiency in Hong Kong, China, and Macau[20]. - The company aims to improve profitability and create long-term value for shareholders by seeking potential business opportunities to expand revenue sources[44]. - The group anticipates a gradual recovery in financial performance as public activities return to normal following the easing of the pandemic in early 2023[81]. - The group aims to minimize the impact of the pandemic and actively explore business opportunities as the economies of Hong Kong, China, and Macau are expected to recover[81]. Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[91]. - The audit committee expressed satisfaction with the remuneration and independence of the auditor, recommending the reappointment of the auditor for the fiscal year ending December 31, 2024, subject to shareholder approval[92]. - The company has adopted the GEM Listing Rules regarding the conduct of securities transactions by directors, confirming compliance during the reporting period[87]. - The company has maintained sufficient public float as required by GEM Listing Rules[94]. Employment and Workforce - As of December 31, 2023, the group employed 152 staff members, a decrease from 159 in 2022, with total employee costs amounting to approximately HKD 53.1 million[80]. - The group’s employee benefit expenses increased slightly to HKD 53,052,000 in 2023 from HKD 52,538,000 in 2022[35].
AV策划推广(08419) - 2023 - 年度业绩