Revenue and Profitability - Revenue decreased by 34.0% to approximately HKD 3,361.3 million, with SI business and IBO business revenues of approximately HKD 1,945.4 million and HKD 1,415.9 million respectively[2]. - Gross profit decreased by 18.5% to approximately HKD 661.9 million, with an improved gross profit margin of 19.7%[2]. - The company reported a loss attributable to owners of approximately HKD 316.9 million, primarily due to a loss from a joint venture in Myanmar of approximately HKD 200.6 million and a trade receivables impairment of approximately HKD 75.5 million[2]. - The company recorded a pre-tax loss of HKD 316.2 million compared to a profit of HKD 106.7 million in the previous year[3]. - Basic and diluted loss per share attributable to ordinary equity holders was HKD (11.78) cents compared to a profit of HKD 1.72 cents in the previous year[3]. - Total comprehensive loss for the year amounted to HKD 296.4 million, compared to a total comprehensive income of HKD 49.9 million in the previous year[4]. - The group reported a net loss of HKD 280.7 million for the year ended December 31, 2022, with current liabilities netting HKD 1,081.4 million as of the same date[10]. - The group reported a pre-tax loss of HKD 316.85 million for 2022, compared to a profit of HKD 45.69 million in 2021[28]. Assets and Liabilities - Non-current assets decreased from HKD 5,372.4 million in 2021 to HKD 4,361.3 million in 2022[5]. - Current liabilities increased from HKD 4,509.2 million in 2021 to HKD 5,631.4 million in 2022[5]. - Total equity decreased from HKD 3,532.4 million in 2021 to HKD 3,140.1 million in 2022[7]. - The total assets of the company as of December 31, 2022, amounted to HKD 8,911,328, compared to HKD 10,349,317 in 2021, indicating a decrease of approximately 14%[17][20]. - The total liabilities as of December 31, 2022, were HKD 5,771,271, down from HKD 6,816,870 in 2021, reflecting a reduction of about 15%[17][20]. - Current liabilities include HKD 1,888.0 million due within 12 months and HKD 1,033.2 million reclassified due to non-compliance with certain financial covenants[10]. - The group’s total current assets as of December 31, 2022, were approximately HKD 4,550.0 million, down from HKD 4,976.9 million in 2021[59]. Cash Flow and Liquidity - Net debt decreased to approximately HKD 2,763.9 million, with a net debt ratio reduced to 88.0%[2]. - Cash and cash equivalents stood at HKD 122.3 million as of December 31, 2022[10]. - The board is implementing several measures to improve liquidity, including negotiating loan terms and seeking waivers for financial covenants[11]. - The group maintained a liquidity ratio of 0.8 as of December 31, 2022, down from 1.1 in 2021, with a debt-to-asset ratio of 64.8%[60]. - Total bank and other borrowings decreased by approximately 24.2% to HKD 2,921.2 million as of December 31, 2022, from HKD 3,852.0 million in the previous year[60]. Operational Performance - The company’s SI business recorded revenue of approximately HKD 1,945.4 million for the year ended December 31, 2022, a decrease of 46.9% compared to HKD 3,665.9 million in 2021[36]. - The IBO business generated revenue of approximately HKD 1,415.9 million for the year ended December 31, 2022, down 0.9% from HKD 1,428.2 million in 2021, with a gross profit of HKD 377.4 million, a decline of 7.5%[37]. - Revenue from customers located in Hong Kong, Macau, and mainland China was HKD 2,095,549 in 2022, down from HKD 2,518,218 in 2021, a decline of approximately 17%[19]. - Major customers contributing over 10% of total revenue included Customer A with HKD 1,202,691 and Customer B with HKD 691,398 for 2022[21]. - The company’s interest income from banks was HKD 1,846 in 2022, a decrease from HKD 2,189 in 2021[23]. Expenses and Cost Management - Selling and distribution expenses decreased by 23.4% to approximately HKD 22.2 million in 2022 from HKD 29.0 million in 2021[54]. - Administrative expenses were approximately HKD 377.7 million in 2022, a decrease of 7.6% from HKD 408.6 million in the previous year, mainly due to reduced employee and insurance costs[56]. - Financing costs increased by 10.6% to approximately HKD 232.8 million in 2022 from HKD 210.4 million in the previous year, despite a reduction in interest-bearing bank borrowings[57]. - The impairment loss on trade receivables increased significantly to HKD 75.52 million in 2022 from HKD 30.62 million in 2021, marking an increase of approximately 146.5%[24]. Future Outlook and Strategic Initiatives - The company is actively expanding its sales network for biogas and waste heat power generation systems and has initiated product development for battery storage systems to provide more low-carbon options[36]. - The company aims to mitigate risks associated with structural changes in single markets and geopolitical conflicts by actively planning future asset portfolios and regional distributions[37]. - The company aims to improve asset utilization as a short-term goal through asset allocation plans and the advancement of new projects[43]. - The company is planning to collaborate with an oil and gas exploration developer in Guatemala to develop its first associated gas power generation project[38]. - The company has identified Brazil as a market with significant development potential, leveraging its local operational experience and management team[43]. Corporate Governance and Compliance - The board does not recommend a final dividend for the year ended December 31, 2022, consistent with the previous year[67]. - The company adhered to the corporate governance code, with the exception of the separation of roles between the chairman and CEO, which is currently held by the same individual[68]. - The company's auditor confirmed that the financial figures in the announcement are consistent with the draft consolidated financial statements for the year ended December 31, 2022[72].
伟能集团(01608) - 2022 - 年度业绩