Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 153,068,000, compared to HKD 3,189,000 in 2021, indicating a significant increase[3]. - Gross profit for the year was HKD 3,924,000, up from HKD 3,189,000 in the previous year, reflecting a growth in profitability[3]. - The company reported a net loss of HKD 47,164,000 for 2022, slightly improved from a loss of HKD 49,454,000 in 2021[4]. - Basic and diluted loss per share was HKD 0.73, compared to HKD 0.67 in the previous year[3]. - The company’s total comprehensive loss for the year was HKD 64,763,000, compared to HKD 42,203,000 in 2021, indicating increased overall losses[4]. - The adjusted pre-tax loss for the year was HKD 47,162,000, with a total annual loss of HKD 47,164,000[24]. - The group reported a basic loss per share of approximately HKD 43,588,000 for the year 2022, compared to HKD 39,859,000 for 2021[33]. - The net loss for the year was approximately HKD 47,200,000, a decrease of about HKD 2,300,000 from the previous year's net loss of HKD 49,500,000, mainly due to an increase in other income and gains of approximately HKD 3,200,000[45]. Revenue Sources - Revenue from the trading of natural gas and oil products was HKD 149.955 million, a significant increase from zero in the previous year[16]. - For the year ended December 31, 2022, total revenue was HKD 153,068,000, with natural gas and oil product trading contributing HKD 149,955,000 and financing lease and loan services contributing HKD 3,113,000[24]. - Revenue from external customers in Hong Kong was HKD 149.955 million, while revenue from China was HKD 3.113 million[18]. - Major customer A contributed HKD 105.16 million and customer B contributed HKD 44.795 million to the natural gas and oil products trading segment[19]. - The financing leasing business revenue decreased to approximately HKD 3,100,000, a decline of about 3% from HKD 3,200,000 in the previous year[47]. - The natural gas and oil products business generated total revenue of HKD 150,000,000, compared to no revenue in the previous year[49]. Assets and Liabilities - Total assets decreased to HKD 1,317,270,000 in 2022 from HKD 1,309,198,000 in 2021, indicating a slight decline in asset base[6]. - Current liabilities increased to HKD 1,317,270,000, compared to HKD 1,309,198,000 in the previous year, leading to a negative net current liabilities of HKD 782,849,000[6]. - Total liabilities exceeded total assets by approximately HKD 676.1 million as of December 31, 2022[10]. - The total borrowings amounted to approximately HKD 1,044.2 million, including loans from related parties and non-controlling shareholders[10]. - As of December 31, 2022, the total debt of the group was approximately HKD 1,316,600,000, compared to HKD 1,307,500,000 in the previous year, with a net debt of approximately HKD 1,288,900,000[51]. - The group's capital debt ratio was 186.4%, up from 171.9% in the previous year, indicating an increase in financial leverage[51]. Expenses - The company reported a significant increase in administrative expenses to HKD 18,810,000 from HKD 16,772,000 in 2021, impacting overall profitability[3]. - Financial expenses totaled HKD 43,877,000, down from HKD 55,629,000 in the previous year, primarily due to reduced interest on bank and other borrowings[29]. - The group’s employee benefit expenses, excluding directors and CEO remuneration, were HKD 7,778,000 in 2022, compared to HKD 8,621,000 in 2021[32]. - The group incurred an annual loss after deducting various expenses, including auditor fees of HKD 1,450,000 in 2022, up from HKD 1,350,000 in 2021[32]. - Administrative expenses amounted to HKD 4,048,000, while financial expenses were HKD 4,522,000[87]. - The total comprehensive expenses for the year reached HKD 7,495,000[87]. Legal and Compliance Issues - The independent auditor issued a disclaimer of opinion on the consolidated financial statements for the year ended December 31, 2022, due to insufficient and appropriate audit evidence[69]. - The company has not issued formal appointment letters to directors, which is a requirement under the corporate governance code[66]. - The group filed a lawsuit in May 2018 to enforce a land development contract, which was rejected by the Putian Intermediate People's Court in June 2020[72]. - The group appealed to the Fujian High People's Court, which accepted the case in August 2020, but the appeal was dismissed in May 2022[72]. - The company has faced challenges in auditing the financial statements due to insufficient supporting documents from its subsidiary[85]. - The company is actively pursuing strategies to enhance its financial reporting and compliance with legal requirements[84]. Future Outlook and Strategies - The company is actively seeking other funding sources to support its business development[12]. - The company has received a commitment from its major shareholder to provide financial support through guarantees or loans within one year[12]. - The company aims to explore new business opportunities and focus on sustainable development of existing operations to enhance financial performance and create shareholder value[63]. - The group is actively exploring various options and future opportunities to improve its business operations and financial condition, aiming to develop a feasible resumption plan[60]. Audit and Financial Reporting - The audit committee has reviewed the group's annual performance for the year[93]. - The consolidated financial statements have been approved by the auditors, confirming the figures are consistent with the audited financial statements[95]. - The company has not yet achieved the necessary documentation to verify the accuracy of accounts receivable as of December 31, 2022[85]. - The company has initiated legal proceedings to obtain accounting records from its subsidiary, which has not yet been provided[84]. - The company is currently executing a court ruling to acquire the accounting records for the years ending December 31, 2022, and 2023[84]. Joint Ventures - The investment in joint ventures as of December 31, 2022, is approximately HKD 94,718,000[91]. - The share of profits from joint ventures reported in the consolidated income statement is approximately HKD 7,598,000[91]. - The foreign exchange difference related to overseas business from joint ventures is approximately HKD 7,424,000[91]. - The receivable financing lease amount from joint ventures is approximately HKD 4,098,000[91]. - The financing lease income recognized in the consolidated income statement is approximately HKD 744,000[91]. - The total receivables from joint ventures amount to approximately HKD 104,702,000[91].
幸福控股(00260) - 2023 - 年度业绩