Financial Performance - In 2022, the company achieved a revenue of HKD 2.564 billion, a pre-tax profit of HKD 407 million, and a net profit of HKD 327 million, with total assets reaching HKD 12.167 billion[14]. - The company recorded a total revenue of HKD 2.564 billion, an increase of 6.0% from HKD 2.419 billion in the previous year[22]. - The gross profit for the year was HKD 786 million, representing a 31.2% increase from HKD 599 million last year, with a gross margin rising from 24.8% to 30.7%[24]. - The solid waste treatment and electricity and steam sales generated revenue of HKD 1.285 billion, up 12.7% from HKD 1.140 billion in the previous year[22]. - The company reported a profit for the year ending December 31, 2022, with financial details available on pages 41 to 135 of the financial statements[118]. - The net profit for the year was HKD 327,396,000, compared to HKD 245,617,000 in 2021, marking a 33.2% increase[186]. - Operating profit increased to HKD 571,212,000 in 2022, up 68.3% from HKD 339,089,000 in the previous year[186]. - Profit before tax rose to HKD 406,906,000, a 51.6% increase from HKD 268,576,000 in 2021[186]. - The company reported a significant increase in financial costs, which rose to HKD 164,306,000 in 2022 from HKD 70,513,000 in 2021, an increase of 132.00%[195]. Waste Processing and Environmental Impact - The total amount of municipal solid waste processed was 3.837 million tons, with an average daily intake of 10,513 tons, representing a year-on-year increase of 13.2%[16]. - The company generated 1.402 million megawatt-hours of electricity, marking a year-on-year growth of 2.6%, and sold 1.161 million megawatt-hours, which is a 3.4% increase from the previous year[16]. - The sludge disposal business achieved a total of 213,000 tons processed during the year[14]. - The company processed 93,160 tons of hazardous and medical waste during the year[16]. - The company processed solid waste with improved efficiency through ongoing technical upgrades and management improvements[144]. - The company is committed to sustainable development and actively invests in energy-saving and emission-reduction technologies[144]. Operational Capacity and Projects - The company expanded its operational capacity with the addition of two new waste-to-energy projects, increasing the daily waste processing capacity to 11,125 tons[16]. - The solid waste treatment segment recorded an operating income of HKD 1.285 billion, reflecting a 12.7% increase compared to the previous year, with a gross profit of HKD 608 million, up 38.5%[16]. - The company plans to continue exploring new business markets and improving profitability through project investment and operational management[14]. - The company has established good relationships with local government agencies and power authorities, which are key clients for its solid waste treatment business[146]. Assets and Liabilities - Total assets and liabilities as of December 31, 2022, were HKD 12.167 billion and HKD 8.057 billion, respectively, reflecting increases of HKD 1.247 billion and HKD 1.132 billion from the previous year[35]. - The company's total liabilities rose significantly to HKD 8,057,430,000 in 2022, up from HKD 6,925,255,000 in 2021, marking an increase of 16.35%[192]. - The group's cash and cash equivalents stood at HKD 2.697 billion, with total bank and other borrowings amounting to HKD 6.363 billion[52]. - The total non-current liabilities surged to HKD 6,528,958,000 in 2022 from HKD 1,857,332,000 in 2021, representing an increase of 251.00%[192]. Governance and Management - The board of directors consists of five executive directors, including one female director, and five independent non-executive directors[77]. - The company emphasizes a culture of integrity and requires all directors and management to adhere to a code of conduct related to integrity and ethical behavior[77]. - The company has established internal control and risk management systems to monitor the execution of business plans[77]. - The board is responsible for corporate governance functions, including the formulation and review of governance policies and compliance with legal regulations[97]. - The company has established an audit committee in compliance with Listing Rule 3.21, consisting of three independent non-executive directors[87]. Employee and Social Responsibility - The total employee cost for the year was HKD 310 million, an increase of 6.2% from HKD 292 million in the previous year, with 1,324 employees as of December 31, 2022, down from 1,399 employees in the previous year[60]. - As of December 31, 2022, approximately 21% of the group's employees were female, with ongoing efforts to enhance gender diversity in hiring[107]. - The company emphasizes employee welfare and regularly reviews policies related to training, occupational health, and safety[146]. Cash Flow and Financing - Operating cash flow for 2022 was HKD 759,180,000, a substantial increase from HKD 205,149,000 in 2021, reflecting a growth of 269.57%[195]. - The net cash flow from investing activities for the year 2022 was a negative HKD 539,111,000, an improvement from a negative HKD 729,768,000 in 2021[197]. - The company generated a net cash flow from financing activities of HKD 1,078,177,000 in 2022, compared to HKD 553,607,000 in 2021, indicating a significant increase in financing activities[197]. - The company made new bank loans totaling HKD 1,220,586,000 in 2022, which is a 77.2% increase from HKD 689,558,000 in 2021[197].
北京控股环境集团(00154) - 2022 - 年度财报