Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately HKD 314.8 million, a slight increase of 0.3% compared to HKD 313.8 million in 2022[3]. - The operating loss for the year was HKD 68.5 million, representing a significant increase of 181.8% from a loss of HKD 24.3 million in the previous year[3]. - The net loss attributable to the company's owners was HKD 74.7 million, compared to a loss of HKD 27.5 million in 2022, marking a 171.4% increase[3]. - Basic loss per share for the year was HKD 4.3 cents, up 152.9% from HKD 1.7 cents in 2022[3]. - The total loss for the year was approximately HKD 74.7 million, an increase of about HKD 47.2 million (or approximately 171.6%) from HKD 27.5 million in 2022[52]. - The loss attributable to the company's owners for 2023 was approximately HKD 73.5 million, an increase of about HKD 44.9 million (or approximately 157.0%) from HKD 28.6 million in 2022[53]. Revenue Breakdown - Revenue from the Chinese market decreased by approximately 4.4% to about HKD 266.3 million in 2023, down from HKD 278.6 million in 2022[21]. - Revenue from the overseas market increased by approximately 37.8% to about HKD 48.5 million in 2023, up from HKD 35.2 million in 2022[22]. - Revenue from the Middle East increased by approximately 56.2% to about HKD 47.8 million in 2023, compared to HKD 30.6 million in 2022[27]. - Revenue from consulting services increased by approximately 44.2% to about HKD 51.9 million in 2023, up from HKD 36.0 million in 2022[30]. - Revenue from oilfield project tools and services decreased by approximately 5.4% to about HKD 262.9 million in 2023 from HKD 277.8 million in 2022[29]. - Revenue from drilling services decreased by approximately 18.7% to about HKD 20.4 million in 2023, down from HKD 25.1 million in 2022[32]. - Revenue from completion services plummeted by approximately 98.9% to about HKD 0.1 million in 2023, down from HKD 9.3 million in 2022[34]. Assets and Liabilities - Total assets decreased by 13.5% to HKD 712.0 million from HKD 823.4 million in 2022[4]. - Total liabilities decreased by 7.3% to HKD 520.9 million from HKD 561.7 million in 2022[4]. - The group's property, plant, and equipment amounted to approximately HKD 127.3 million, a decrease of about HKD 36.4 million (or approximately 22.2%) from HKD 163.7 million in 2022[54]. - The group's intangible assets decreased from approximately HKD 85.7 million in 2022 to approximately HKD 26.8 million in 2023, primarily due to a goodwill impairment loss of approximately HKD 58.9 million recognized in 2023[55]. - The group's cash and cash equivalents were approximately HKD 26.3 million, a decrease of about HKD 13.7 million from HKD 40.0 million in 2022[62]. Operational Strategy and Market Outlook - The company anticipates stable market demand for its production enhancement services in China due to consistent international oil prices and supportive national policies[15]. - The company plans to continue marketing and promoting its oilfield services and technologies to enhance market penetration in 2024[16]. - The company expects a significant decline in consulting service scale in the Middle East due to the expiration of a supervisory service contract in Q1 2024, which will not be renewed by the client[16]. Employee and Training - The group employed 256 staff as of December 31, 2023, an increase of approximately 3.2% from 248 employees a year earlier[68]. - A total of 142 training sessions were conducted in 2023, totaling over 9,791 hours, with 224 employees participating[68]. - 88% of employees received training, totaling 9,555 hours, with an average of 37.3 hours per employee, reflecting a 13% increase in training coverage compared to the previous reporting period[167]. - 100% of senior management received training, with an average of 37.6 hours per employee, while 75% of middle management and 87% of frontline employees received training[169]. Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes compliance with ESG regulations, recognizing their impact on long-term sustainability and operational risks[77]. - The company has established ESG-related goals to ensure sustainable operations and long-term business growth, focusing on emissions reduction and energy conservation[82]. - The total greenhouse gas emissions for the reporting period amounted to 12,466.90 tons of CO2 equivalent, a decrease from 13,922.14 tons in 2022, representing a reduction of approximately 10.4%[105][108]. - The company achieved a 16.3% reduction in greenhouse gas emissions intensity per thousand Hong Kong dollars of revenue compared to the 2022 baseline, successfully progressing towards its 10% reduction target by 2032[110]. - The company has implemented measures to prioritize the use of electric pumps over diesel pumps in fracturing operations, enhancing energy efficiency and reducing emissions[112]. - The company has obtained ISO 14001 certification for its environmental management system, demonstrating its commitment to environmental protection[99]. Corporate Governance - The board of directors consists of three executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2023[196]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with it during the year[196]. - Continuous professional development for directors is ensured, with all directors participating in training and seminars[198].
百勤油服(02178) - 2023 - 年度财报