Financial Performance - Revenue decreased by approximately 48.8% to around MOP 88.2 million from approximately MOP 172.4 million for the fiscal year ending December 31, 2022[13]. - The company recorded a post-tax loss of approximately MOP 18.5 million for the fiscal year, compared to a post-tax profit of approximately MOP 5.3 million in the previous fiscal year[13]. - The group's total revenue for the year ended December 31, 2023, decreased by approximately MOP 84.2 million or 48.8% compared to the previous year, primarily due to a decline in renovation and construction services[23]. - The gross profit for the year ended December 31, 2023, was approximately MOP 14.72 million, a decrease of MOP 21.1 million or 58.9% from MOP 35.81 million in 2022[26]. - The gross profit margin decreased from approximately 20.8% in 2022 to 16.7% in 2023, primarily due to a reduction in the gross profit margin of renovation projects[29]. - Other income and losses for the year ended December 31, 2023, resulted in a net loss of approximately MOP 3.6 million, compared to a net loss of MOP 1.9 million in 2022[30]. - The group reported a loss attributable to owners of approximately MOP 18.5 million for the year ending December 31, 2023, compared to a profit of approximately MOP 5.3 million for the year ending December 31, 2022[34]. - Basic loss per share for the year ending December 31, 2023, was MOP 4.6 cents, a decrease of MOP 5.9 cents compared to earnings of MOP 1.3 cents for the year ending December 31, 2022[37]. Project and Revenue Details - The company completed 22 projects and was awarded 25 projects during the fiscal year ending December 31, 2023[13]. - Renovation project revenue for the year ended December 31, 2023, was MOP 72.86 million, a decrease of MOP 78.1 million or 51.7% from MOP 150.93 million in 2022[23]. - The construction engineering revenue for the year ended December 31, 2023, was MOP 10.12 million, a decrease of MOP 7.7 million or 43.3% from MOP 17.83 million in 2022[23]. - The group secured new renovation projects valued at approximately MOP 100.1 million for the year ended December 31, 2023, down from MOP 201.4 million in 2022[22]. - The total value of uncompleted renovation and construction projects as of December 31, 2023, was approximately MOP 91.0 million, compared to MOP 72.7 million as of December 31, 2022[22]. Financial Position and Ratios - Current assets exceeded current liabilities by MOP 2.7 million as of December 31, 2023, down from MOP 17.4 million in 2022[39]. - Cash and bank balances were MOP 10.1 million as of December 31, 2023, compared to MOP 22.4 million in 2022[40]. - The current ratio decreased to 1.04 as of December 31, 2023, from 1.2 in 2022, reflecting the loss situation for the year[47]. - The debt-to-equity ratio increased to 0.32 as of December 31, 2023, from 0.25 in 2022, primarily due to the loss for the year[47]. - Total borrowings amounted to MOP 33.5 million as of December 31, 2023, compared to MOP 31.0 million in 2022[40]. Management and Governance - The board of directors consists of 7 members, including 3 independent non-executive directors, meeting the listing rules requirements[92]. - The chairman and CEO positions are held by Mr. Li Ying Wan and Mr. Li Ming Shan, respectively, with Mr. Li Ying Wan leading the board and overall strategic management[89]. - All directors attended at least 5 out of 6 board meetings, demonstrating strong engagement in governance[88]. - The company has implemented appropriate insurance arrangements for directors and senior management against legal liabilities arising from company operations[97]. - The company encourages continuous professional development for directors, covering training costs[99]. - The board is collectively responsible for guiding and monitoring the company's affairs, including strategic direction and financial performance[94]. - The company has a robust internal control and risk management system in place, overseen by the board[94]. - The Audit Committee held two meetings during the year ending December 31, 2023, to review interim and annual financial performance and reports[108]. Risk Management and Compliance - The company has adopted an anti-corruption policy, emphasizing integrity, honesty, fairness, and transparency, with a zero-tolerance approach to fraud and bribery[138]. - The board is responsible for maintaining an effective risk management system and internal control system to protect the group's assets and shareholder interests, with annual reviews conducted[138]. - An independent external consultant has been appointed to review the effectiveness and adequacy of the group's risk management and internal control systems[142]. - The company has established risk management procedures to identify, assess, and manage significant risks, with senior management responsible for annual risk reporting[143]. - The company has implemented a policy for disclosing inside information to ensure shareholders and the public receive comprehensive and accurate information[146]. Market Outlook and Strategy - The group anticipates that the improving economic environment in Macau will gradually increase construction project volumes[17]. - The group plans to actively explore broader market opportunities to create more growth prospects amid the positive market outlook[17]. - The outlook for the Macau market remains positive, with expectations of increased construction opportunities driven by the recovery of the tourism and gaming sectors[67]. Employee and Operational Details - The total employee costs for the year ended December 31, 2023, amounted to MOP 36.3 million, a decrease from MOP 39.5 million in 2022[66]. - The group maintained a total of 140 full-time employees as of December 31, 2023, compared to 138 in 2022[66]. - The company emphasizes gender equality and aims for gender balance within the senior management team[129]. Shareholder Communication and Policies - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are properly addressed, confirming its effectiveness for the year ending December 31, 2023[166]. - The company has adopted a dividend policy without a preset dividend payout ratio, allowing the board to propose and/or declare dividends based on the financial condition and factors outlined in the policy[166]. - The company maintains a website as a communication platform for shareholders and investors, where financial and other relevant information is publicly accessible[165]. Corporate Structure and History - The company was established on June 1, 2016, in the Cayman Islands and listed on the main board of the Stock Exchange on February 10, 2017[192][194]. - The main business includes investment holding and providing corporate management services, with subsidiaries focusing on renovation, construction, and maintenance services[195].
黎氏企业(02266) - 2023 - 年度财报