Financial Performance - The total revenue for the fiscal year ending December 31, 2023, was HKD 801.5 million, a decrease of 33.1% compared to HKD 1,198.8 million for the fiscal year 2022[6]. - Net profit for the fiscal year 2023 was HKD 41.3 million, a significant decrease of 93.1% from HKD 602.6 million in fiscal year 2022[6]. - Basic earnings per share for the fiscal year 2023 were HKD 0.0532, down from HKD 0.0783 in fiscal year 2022[6]. - The company did not recommend any interim or final dividends for the fiscal year 2023, maintaining a total dividend of zero, consistent with fiscal year 2022[7]. - The net profit for fiscal year 2023 was HKD 41.3 million, a decrease of HKD 561.3 million from HKD 602.6 million in fiscal year 2022, influenced by reduced foreign exchange gains and increased financial expenses[29]. - Other income slightly decreased to HKD 32 million in fiscal year 2023 from HKD 33.4 million in fiscal year 2022, primarily due to a reduction in government subsidies[20]. - The net other income for the fiscal year 2023 was HKD 58.2 million, a significant decrease from HKD 341.9 million in fiscal year 2022, primarily due to a drop in foreign exchange gains from HKD 358.1 million to HKD 59.4 million[21]. Revenue Breakdown - The revenue from the environmental category decreased by HKD 347.2 million, while the automotive parts category saw a reduction of HKD 97.9 million[19]. - The financial services category increased by HKD 16.7 million, and the Latin America and Caribbean category saw a significant increase of HKD 28.9 million, up 489.8%[18]. - The property segment generated revenue of HKD 19.3 million, accounting for 2.4% of total revenue, an increase of 33.1% from the previous year[18]. - The financial services segment contributed HKD 142.5 million, representing 17.8% of total revenue, an increase of 13.3% year-over-year[18]. - The environmental segment accounted for HKD 357.8 million, which was 44.6% of total revenue, reflecting a significant decline of 49.2%[18]. - The automotive parts segment reported a revenue decline to HKD 43,100,000 in fiscal year 2023 from HKD 141,000,000 in fiscal year 2022, resulting in a loss of HKD 10,300,000 compared to a profit of HKD 5,700,000 in the previous year[33]. - The commercial printing segment revenue fell to HKD 54,700,000 in fiscal year 2023 from HKD 59,100,000 in fiscal year 2022, with losses increasing to HKD 4,100,000 from HKD 3,200,000[34]. - Department store segment recorded revenue of HKD 145,600,000 in fiscal year 2023, down slightly from HKD 146,300,000 in fiscal year 2022, with losses increasing to HKD 91,100,000 due to goodwill impairment[35]. - The Latin America and Caribbean segment generated revenue of HKD 34,800,000 in fiscal year 2023, a significant increase from HKD 5,900,000 in fiscal year 2022, but reported a loss of HKD 8,800,000 compared to a profit of HKD 1,799,800,000 in the previous year[36]. Investment and Expansion Plans - The company plans to expand its investment opportunities in the Caribbean and Latin America, targeting four additional Caribbean countries for development projects[8]. - The Grenada project includes educational facilities, student apartments, hotels, and commercial developments, with plans for further investments in clean energy, education, tourism, and retail sectors[8]. - The company is seeking partnerships with strong investors to co-invest in projects in designated Caribbean countries and Panama[8]. - The company is exploring new potential investment opportunities in various sectors, including banking, insurance, desalination, and infrastructure engineering[8]. - The company aims to leverage its experience from the Grenada project to explore more investment opportunities in the Caribbean Economic Area and Latin America, focusing on clean energy, education, tourism, and retail sectors[66]. - The company has identified four investment areas to contribute to local economic development, including clean energy, education, tourism, and retail, which are expected to create job opportunities and enhance local living standards[66]. Operational Performance - The company holds a 51% stake in the Laiying Garden urban renewal project in Nanshan, Shenzhen, and a 100% stake in the Qinkeng property project in Longhua, Shenzhen[10][11]. - The property segment recorded a profit of HKD 782,500,000 in fiscal year 2023, a significant turnaround from a loss of HKD 1,379,500,000 in fiscal year 2022, primarily due to a net gain of HKD 1,097,800,000 from fair value changes of investment properties[30]. - Financial services segment revenue rose to HKD 142,500,000 in fiscal year 2023, up 13.3% from HKD 125,800,000 in fiscal year 2022, attributed to increased interest income from lending and guarantee financing[31]. - The financial services segment profit increased to HKD 75,700,000 in fiscal year 2023 from HKD 21,300,000 in fiscal year 2022, driven by revenue growth and reduced service costs[31]. - The company has five property projects, maintaining the same number as in 2022, with various stages of development ongoing[42]. Environmental and Sustainability Efforts - The company emphasizes the importance of environmental sustainability and has integrated it into its business operations[150]. - The total greenhouse gas emissions for the fiscal year 2023 amounted to 1,705.60 tons of CO2 equivalent, a decrease from 1,818.16 tons in fiscal year 2022[154]. - The greenhouse gas emissions density per employee for fiscal year 2023 was 3.68 tons of CO2 equivalent, down from 3.80 tons in fiscal year 2022[154]. - The company has set a target to maintain the greenhouse gas emissions density at the fiscal year 2023 level for the fiscal year ending December 31, 2024[153]. - The company has implemented various energy-saving measures to achieve its emissions reduction targets[153]. - The total amount of non-hazardous waste disposed of in 2023 was 22.70 tons, an increase from 19.87 tons in 2022, reflecting a rise of approximately 9.3%[160]. - The company has implemented various measures to reduce paper usage, including encouraging electronic communication and double-sided printing[170]. - The company promotes water conservation and has implemented water reuse practices at its Japan recycling facility[165]. Corporate Governance - The company has established a corporate governance report detailing its governance practices[101]. - The company has adhered to the corporate governance code and maintained high standards of corporate governance throughout the fiscal year[109]. - The board of directors confirmed compliance with the standards of the code for securities trading by directors during the fiscal year[111]. - The company has established a risk management and internal control system, which was reviewed by the Audit Committee, confirming no significant deficiencies were found during the internal control review conducted in 2023[130]. - The company maintains a sufficient public float of at least 25% of its total issued shares throughout the review year[107]. - The company has established a shareholder communication policy to enhance relationships with shareholders, including annual general meetings and timely announcements of interim and annual results[138]. Employee and Workplace Policies - The group employed a total of 463 employees as of December 31, 2023, with 302 in Hong Kong, 112 in Mainland China, 33 in Japan, and 16 in Grenada[77]. - Employee compensation policies are reviewed regularly based on market benchmarks, financial performance, and individual performance, with bonuses distributed accordingly[74]. - The employee gender ratio is 48.4% male and 51.6% female among 463 employees, indicating a diverse workforce[121]. - The group has implemented employee welfare programs, including mandatory provident fund plans, stock option plans, and medical insurance[77]. - The group focuses on creating a safe and beneficial work environment for employees, adhering to occupational health and safety regulations[77]. - The group has established a feedback channel for employees to express concerns confidentially, promoting a supportive work environment[190]. Risk Management - The company has established a credit assessment committee responsible for formulating credit policies and monitoring credit risk in lending operations[52]. - The credit risk management includes daily monitoring of market conditions and collateral adequacy for margin accounts[49]. - The margin monitoring team reports daily on margin status and takes immediate action in case of collateral shortfalls[47]. Community Engagement and Social Responsibility - The group made donations of approximately HKD 124,000 in the fiscal year ending December 31, 2023, compared to HKD 112,000 in 2022[108]. - The company supports key internal talents by providing clear career paths and funding for external training courses to enhance their professional qualifications[194]. - The company strictly prohibits child labor and forced labor, ensuring compliance with relevant laws and regulations during the hiring process[195].
伟禄集团(01196) - 2023 - 年度财报