创业集团控股(02221) - 2023 - 年度财报

Business Expansion and Strategic Focus - The Group entered the anode material sector through a joint venture, targeting applications in power batteries, energy storage, and portable electronic products, with expectations for significant growth driven by domestic policy and demand [18][29]. - The Group anticipates that the anode material business will become a driving force for development, supported by strong domestic demand for energy solutions [18][29]. - The Group will continue to optimize management and innovation in response to intensified competition in the environmental protection industry in mainland China, shifting focus from expansion to quality [21][28]. - The Group's strategic focus includes enhancing operational management and innovation to adapt to the evolving national environmental protection market [21][28]. - The Group aims to enhance its market presence through these new facilities and technologies [163]. Financial Performance - Overall demand has not fully recovered due to global economic stagnation, inflation, and interest rate hikes, impacting performance in the first quarter of 2023 [12][16]. - The financial position remains complex, with the need for continued adaptation to market changes and economic conditions [16][12]. - Revenue for the year ended March 31, 2023, was HK$545,189,000, a decrease of 16.7$654,851,000 in 2022 [75]. - Gross profit for the same period was HK$53,564,000, down 35.3$82,799,000 in the previous year [75]. - The company reported a loss before tax of HK$14,706,000 compared to a profit of HK$29,169,000 in 2022 [75]. - The net loss for the year was HK$18,722,000, contrasting with a profit of HK$17,085,000 in the prior year [75]. - Basic and diluted loss per share was HK$1.60, compared to earnings of HK$0.53 per share in 2022 [75]. - Total comprehensive loss for the year amounted to HK$35,258,000, a decrease from a total comprehensive income of HK$22,595,000 in 2022 [97]. - Loss attributable to owners of the Company amounted to approximately HK$20.8 million in FY2023, compared to a profit of approximately HK$2.1 million in the prior year [174]. Asset Management and Liabilities - As of March 31, 2023, the aggregate carrying amount of operating concessions after impairment was HK$246,519,000, representing approximately 24$446,883,000, which accounted for approximately 43% of the Group's total assets as of March 31, 2023 [43]. - The accumulated losses as of March 31, 2023, were HK$525,070,000, a slight improvement from HK$504,533,000 in the previous year [103]. - The company assessed impairment of trade and retention receivables, which included significant estimates based on customer creditworthiness and historical write-off experiences [65]. Operational Developments - The construction of the Hanzhong Plant, an 80%-owned subsidiary, is yet to commence as of March 31, 2023, pending negotiations with the municipal government [31]. - The construction of Hancheng Plant has been pending since FY2020 due to design deficiencies and administrative penalties, with no agreement reached for modifications [139]. - The Group completed a total of 4 projects in FY2023, down from 6 projects in FY2022, and secured 2 new projects with an aggregated contract value of approximately HK$957.3 million [153]. - The Group's revenue from the Xuancheng Plant is still under trial operation as of the report date [161]. - The Group is focused on expanding its capacity through new projects like Xuancheng, Dunhua, and Guoyang Plants [163]. Shareholder Engagement and Corporate Governance - The Company is scheduled to hold its Annual General Meeting on August 15, 2023, where key committee members will address shareholder questions [38]. - The Company emphasizes the importance of assessing the economic performance of each cash-generating unit for impairment indicators [42]. - The Company is committed to complying with the Cayman Islands Companies Law regarding dividend declarations and payments [59]. - The company communicated with the Audit Committee regarding significant audit findings and compliance with independence requirements [74]. Market Conditions and Future Outlook - The overall market environment remains challenging, with ongoing adjustments required to navigate economic uncertainties [12][16]. - The construction industry in Hong Kong faces challenges due to rising material costs from global inflation, but the Group remains conservatively optimistic about long-term demand due to government land supply policies [174]. - The National Development and Reform Commission's "14th Five-Year Plan" aims for new energy storage to enter large-scale development by 2025, which is expected to drive strong demand for anode materials [174].