Financial Performance - For the year ended December 31, 2023, the Group's revenue from continuing operations decreased by 21.4% to HK$405,612,000 compared to the previous year[17]. - The Group recorded a post-tax loss of HK$35,767,000, a decline from a net profit of HK$4,564,000 in the previous year[17]. - Adjusted EBITDA in 2023 decreased by 28.2% to HK$82,450,000, down from HK$114,899,000 in 2022[17]. - Loss attributable to owners of the Company was HK$33,118,000 in 2023, a decline from a profit of HK$7,273,000 in 2022[35]. - Total revenue for 2023 was HK$405,612,000, with 1H 2023 revenue at HK$200,638,000 and 2H 2023 revenue at HK$204,974,000, reflecting a decrease of 21.5% compared to total revenue of HK$516,141,000 in 2022[92]. - The net loss for the year was HK$35,767,000, a significant decrease from a profit of HK$4,564,000 in 2022, representing an 883.7% decline[91]. - Basic loss per share was HK$1.09, compared to earnings per share of HK$0.24 in the previous year, marking a 554.2% decrease[91]. - Gross profit for 2023 was HK$65,417,000, down 44.8% from HK$118,828,000 in 2022[186]. - Operating profit significantly declined to HK$1,275,000 in 2023 from HK$57,827,000 in 2022, representing a decrease of 97.8%[186]. Assets and Liabilities - As of December 31, 2023, the Group's total assets were approximately HK$1,301,424,000, a decrease of about 14% from HK$1,514,046,000 in 2022[114]. - The Group's equity attributable to owners decreased to approximately HK$908,251,000 in 2023 from HK$961,677,000 in 2022, representing a decline of about 5.5%[114]. - Cash and bank balances decreased to HK$186,365,000 in 2023 from HK$270,279,000 in 2022, a reduction of approximately 31%[118]. - Current liabilities decreased to HK$249,980,000 in 2023 from HK$397,336,000 in 2022, representing a reduction of 37.2%[190]. - Total liabilities reduced to HK$288,065,000 in 2023, down 34.3% from HK$438,539,000 in 2022[190]. - Net assets decreased to HK$1,013,359,000 in 2023 from HK$1,075,507,000 in 2022, a decline of 5.8%[190]. - Non-current assets decreased to HK$969,911,000 in 2023 from HK$1,056,515,000 in 2022, a reduction of 8.2%[187]. Cash Flow and Investments - Cash and cash equivalents of the Group as of December 31, 2023, were HK$186,365,000, down from HK$270,279,000 in 2022[19]. - The Group's employee costs for the year ended December 31, 2023, were HK$89,272,000, compared to HK$101,329,000 in 2022[157]. - The Group received total dividends of approximately HK$3,945,000 from equity investments in three plastic dyeing companies, a decrease from HK$4,249,000 in 2022[70]. - The Group recognized a gain of approximately HK$4,945,000 from the disposal of Jiangsu Yu Xin Environmental Engineering Management Company Limited on August 3, 2023[136]. - The Group has contracted capital expenditure of HK$44,084,000 for property, plant, and equipment, up from HK$22,464,000 in 2022, an increase of approximately 96%[108]. Operational Changes and Future Plans - The Company plans to dispose of the operating segment of environmental equipment construction and installation services and temporarily halt operations in certain loss-making units[25]. - In 2024, the Company will explore opportunities for business restructuring to enhance operational efficiency and financial performance[25]. - The Group plans to ensure timely renewal of hazardous waste operating licenses for its subsidiaries with minimal downtime in 2024[81]. - The Group is exploring business restructuring and industrial upgrading opportunities to enhance sustainability in its environmental operations[83]. - The Group aims to strengthen its marketing function and contractual relationships with existing clients to ensure stable operations amid market competition[169]. Market and Competition - The Group faces increased competition in the hazardous waste treatment market, with a growing number of licensed operators and no significant increase in hazardous waste production from upstream manufacturers[169]. - The Group's hazardous waste operating permission licenses are critical and may face risks of suspension or delays in renewal due to compliance with PRC Government regulations[166]. - The Group is committed to maintaining high operational standards and compliance with environmental policies to ensure the renewal of necessary licenses[166]. Environmental and Compliance - The Group has implemented stringent controls over new project construction and continuously upgrades the efficiency of existing plants to mitigate environmental risks[173]. - The Group has appointed independent professionals to monitor environmental emissions and assess potential impacts on society[173]. - The Group's internal control risks have increased due to moderate changes in operational scale, necessitating continuous monitoring and review of risk management systems[173].
新宇环保(00436) - 2023 - 年度财报