Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 61,456,000, a decrease of 6.5% from HKD 65,654,000 in 2022[5] - The cost of sales for the same period was HKD 57,681,000, resulting in a gross profit of HKD 3,775,000, which is an increase of 15.9% compared to HKD 3,254,000 in 2022[5] - The operating loss for the year was HKD 1,861,000, a substantial improvement from the operating loss of HKD 12,241,000 in the previous year[5] - The company reported a loss before tax of HKD 17,527,000, which is a 18.5% improvement compared to a loss of HKD 21,515,000 in 2022[5] - Total comprehensive loss for the year was HKD 19,312,000, down from HKD 23,393,000 in the previous year, indicating a 17.8% reduction[6] - The company reported a basic and diluted loss per share of HKD 16.82, slightly improved from HKD 17.83 in the previous year[6] - The company reported a loss attributable to owners of approximately HKD 17,334,000 for the year ended December 31, 2023[14] - The total comprehensive loss for the year was HKD 17,321,000, with a significant portion attributed to accumulated losses of HKD 130,221,000[11] - The group reported a revenue of HKD 61,456,000 for the year 2023, a decrease of 6.5% compared to HKD 65,654,000 in 2022[31] - The group incurred a pre-tax loss of HKD 5,012,000 in 2023, compared to HKD 5,798,000 in 2022[35] - The group reported a loss before tax of HKD 17,527,000 for the year ended December 31, 2023, compared to a loss of HKD 21,515,000 in 2022[39] - The basic loss per share for 2023 was HKD 17,334,000, slightly improved from HKD 18,377,000 in 2022[42] - The group reported a loss attributable to owners of approximately HKD 17,334,000 for the year ended December 31, 2023[89] Cost Management - Administrative expenses significantly decreased to HKD 7,630,000 from HKD 14,698,000, reflecting a reduction of 48.2%[5] - The company has implemented effective cost control measures to improve operational profitability and cash flow[14] - Operating expenses decreased significantly from HKD 16.9 million in 2022 to HKD 7.5 million in 2023, primarily due to reduced employee costs and improved cost control[57] - Employee costs decreased from HKD 5.8 million in 2022 to HKD 5.0 million in 2023, a reduction of HKD 0.8 million[57] Assets and Liabilities - The company's total assets decreased to HKD 36,310,000 from HKD 24,759,000, while total liabilities increased to HKD 42,435,000 from HKD 37,081,000[8][9] - As of December 31, 2023, the company's current liabilities exceeded its current assets by HKD 6,125,000, and total liabilities exceeded total assets by HKD 13,901,000[14] - The net current liabilities improved to HKD 6,125,000 from HKD 12,322,000, showing a positive trend in liquidity[8] - Current liabilities exceeded current assets by HKD 6,125,000 as of December 31, 2023, indicating significant uncertainty regarding the group's ability to continue as a going concern[89] - Total liabilities exceeded total assets by HKD 13,901,000, raising concerns about the group's financial stability[89] Shareholder Support and Financing - The company has received a commitment from a shareholder to provide interest-free and unsecured financial support of HKD 12,000,000 over the next twelve months[14] - The company issued convertible bonds amounting to HKD 2,240,000 during the year[11] - As of December 31, 2023, the total unexercised convertible bonds amounted to HKD 9.5 million, down from HKD 20 million in 2022[66] - The company may restructure existing debt and implement debt or equity fundraising plans to meet financing needs and improve financial conditions[77] Business Development and Strategy - The company has not disclosed any new product developments or market expansion strategies in the current report[4] - The company is focused on business development and market expansion strategies to enhance future performance[14] - The company aims to expand into the specialty dairy and health food business through the acquisition of Guokete's majority stake[75] - The group acquired 70% of Guokete Micro (Beijing) Biotechnology Co., Ltd., expanding its business into the health food sector[52] - The group’s strategy includes exploring various investment opportunities to enhance shareholder value amid challenging geopolitical conditions[53] - The company plans to maintain a cautious approach amid global economic uncertainties and geopolitical concerns, adjusting priorities and resources as needed[75] Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[88] - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements and provided recommendations[85] Other Financial Metrics - The company recognized share-based payment expenses of HKD 1,063,000 during the year[11] - The company’s total reserves decreased to HKD 3,373,000 as of December 31, 2023, from HKD 2,526,000 the previous year[11] - The company’s equity attributable to owners stood at HKD 1,649,000 as of December 31, 2023[11] - The effective tax rate for the group's Chinese subsidiaries remained at 25%, with no taxable profits reported for the year[38] - The group did not declare or pay any dividends during the year, consistent with the previous year[40] - The group maintained a strict control over overdue receivables, with no significant increase in credit risk for amounts overdue by more than 60 days[47] - The group did not apply any new accounting standards that became effective on January 1, 2023, and expects no significant impact from upcoming standards[24][26] - The group reported a net foreign exchange loss of HKD 1,000 in 2023, compared to HKD 38,000 in 2022[35] - The group recognized a depreciation expense of HKD 54,000 for owned assets in 2023, significantly lower than HKD 254,000 in 2022[35] - There are no significant capital commitments or expenditures reported for the years ending December 31, 2023, and December 31, 2022[68][69] - The company has not engaged in any asset pledges as of December 31, 2023, and December 31, 2022[69] - The company has not implemented any foreign currency hedging policies but will consider hedging significant foreign exchange risks as necessary[70] - The company has confirmed provisions for a claim of approximately RMB 0.63 million related to unpaid rent, with interest and other costs[72]
汇思太平洋(08147) - 2023 - 年度业绩