Financial Performance - The total revenue of AMCO United Holding Limited decreased by HK$32.2 million or 48.4%, from HK$66.5 million in 2022 to HK$34.3 million in 2023[13]. - The loss for the year improved significantly to HK$2.75 million in 2023 from HK$104.25 million in 2022[6]. - Overall loss attributable to owners of the Company was HK$2.8 million, a significant decrease of 97.3% from a loss of HK$104.3 million in 2022[31]. - The Group recorded a realized and unrealized loss of HK$8.5 million in 2023 from changes in the fair value of held-for-trading investments, compared to a loss of HK$4.6 million in 2022[153]. - The segment loss from Securities Investment amounted to HK$8.8 million in 2023, an increase from a loss of HK$4.6 million in 2022[153]. Equity and Assets - Equity attributable to owners of the Company increased to HK$61.36 million in 2023 from HK$18.59 million in 2022[6]. - The Group's consolidated net assets increased to HK$61.4 million as of December 31, 2023, up from HK$18.6 million as of December 31, 2022[165]. - The Group's total cash and bank balances amounted to HK$7.7 million as of December 31, 2023, an increase of HK$4.0 million from HK$3.7 million as of December 31, 2022[169]. - As of December 31, 2023, the carrying amount of the plant and machinery is approximately HK$Nil, down from HK$1.1 million in 2022[98]. Financial Ratios - The current ratio improved to 2.2 in 2023 from 1.7 in 2022, indicating better short-term financial health[6]. - The total debt to total assets ratio decreased to 0.6 in 2023 from 0.9 in 2022, reflecting reduced leverage[6]. - The Group's gearing ratio improved to 37.8% as of December 31, 2023, compared to 277.1% as of December 31, 2022[174]. Revenue Breakdown - Revenue from medical products dropped by 59.7% or HK$32.5 million, accounting for 63.9% of the Group's total revenue in 2023[37]. - Revenue from the Building Contract Works Business decreased due to fewer contract awards in both public and private sectors[17]. - Revenue from the Medical Products Business totaled HK$21.9 million for the year ended December 31, 2023, with Customer A contributing HK$10.1 million and Customer B contributing HK$8.3 million[112]. - Revenue from Plastic Products decreased by 45.5% to HK$0.6 million, accounting for 1.8% of the Group's total revenue, with a segment loss of approximately HK$829,000[118][123]. Business Segments - The Money Lending Business generated stable income for the Group in 2023, contrasting with losses in the Securities Investment segment[18]. - The Building Contract Works Business generated no revenue for the year, a decrease of HK$2.7 million or 100%, resulting in a segment loss of HK$1.0 million[120][124]. - Loan interest income from Money Lending increased by 8.3% to HK$11.8 million, accounting for 34.3% of the Group's total revenue, with a segment profit of HK$14.7 million[127]. Cost Management - Distribution and administrative expenses decreased by HK$11.0 million or 44.0% to HK$14.0 million compared to HK$25.0 million in 2022[30]. - The Group is implementing strict cost control measures and streamlining business processes to maintain competitive advantages[14]. Credit and Risk Management - The expected credit loss (ECL) provision was reversed by approximately HK$7.9 million in 2023, compared to a provision of approximately HK$76.3 million in 2022[31]. - The credit loss rate applied for loan receivables was 47.1% in 2023, slightly up from 46.3% in 2022[36]. - JS Finance has adjusted its lending strategy to enhance borrower requirements, including the need for asset or income proof to lower the default ratio[132]. Investment Strategy - The Group intends to diversify its investment portfolio to reduce concentration and investment risks due to recent market volatility[154]. - The Group will maintain a prudent investment attitude and develop strategies to improve capital usage efficiency and generate additional returns on idle funds[154]. Operational Efficiency - The Group will focus on reallocating assets and resources to adapt to changing market conditions and enhance operational efficiency[23]. - The Group emphasizes just-in-time production to minimize storage costs and the risk of obsolete stock, adjusting production volumes and pricing strategies based on actual market demand[92]. Employee Management - As of December 31, 2023, the group has 30 employees, maintaining the same number as the previous year[183]. - Employee compensation is determined based on performance and experience, with benefits including salary, insurance, mandatory provident fund, and stock option plans[183]. Corporate Governance - The company has complied with all code provisions of the Corporate Governance Code throughout the year ended December 31, 2023, with certain disclosed deviations[200].
隽泰控股(00630) - 2023 - 年度财报