Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 948.51 million, an increase of 36.5% compared to HKD 694.85 million in 2022[16] - The gross profit for the year was HKD 89.18 million, a decrease of 4.8% from HKD 93.62 million in the previous year[16] - Operating profit significantly dropped to HKD 2.45 million from HKD 55.36 million in 2022, reflecting a decline of 95.6%[16] - The company reported a loss before tax of HKD 29.25 million, compared to a profit of HKD 3.43 million in the prior year[16] - The net loss attributable to shareholders for the year was HKD 33.07 million, compared to a profit of HKD 1.67 million in 2022[16] - The total comprehensive income for the year was HKD 26.05 million, a recovery from a loss of HKD 157.97 million in the previous year[18] - Basic and diluted earnings per share for 2023 were HKD 0.06, a substantial increase from a loss of HKD 0.009 in 2022[27] - The group reported a significant decrease in EBIT and EBITDA, with EBIT at approximately HKD 2.5 million (down 95.6%) and EBITDA at approximately HKD 57.7 million (down 48.6%) due to increased operating and administrative expenses[123] Revenue Sources - The company reported revenue from the sale of oil and petrochemical products of HKD 797,703,000 in 2023, up from HKD 543,625,000 in 2022, reflecting a growth of approximately 46.8%[35] - Revenue from storage and warehouse services, along with rental income from gas stations, totaled HKD 111,591,000 in 2023, compared to HKD 119,183,000 in 2022, showing a decline of about 6.3%[35] - Trade business revenue from oil and petrochemical sales reached approximately 543.6 million in 2022[142] Assets and Liabilities - Total assets decreased slightly from HKD 1,976,729,000 in 2022 to HKD 1,957,023,000 in 2023, while total liabilities also decreased from HKD 769,703,000 to HKD 723,946,000[45] - Non-current assets decreased from HKD 1,419,906,000 in 2022 to HKD 1,307,383,000 in 2023, primarily due to reductions in property, plant, and equipment[29] - The total assets of the reportable segments decreased to 932,613,000 HKD in 2023 from 1,296,315,000 HKD in 2022, a decline of approximately 28.1%[64] - The total liabilities of the reportable segments also decreased to 636,745,000 HKD in 2023 from 821,289,000 HKD in 2022, representing a reduction of about 22.5%[64] Cash Flow and Liquidity - Cash and bank balances increased significantly from HKD 162,297,000 in 2022 to HKD 374,862,000 in 2023, indicating improved liquidity[29] - The total cash and bank balance as of December 31, 2023, was approximately 162.3 million in 2022, primarily due to proceeds from the sale of limited partnership interests[152] - The company’s net current assets rose from HKD 235,290,000 in 2022 to HKD 376,176,000 in 2023, reflecting a positive trend in working capital management[29] Investments and Future Plans - There were no significant investments or capital asset acquisitions planned for the future as of the reporting date[5] - The company plans to continue expanding its operations in the oil and petrochemical sector, focusing on enhancing storage and logistics capabilities[34] - The company is focusing on expanding its customer base to gas station end-users to enhance unit profit through major fuel supply agreements[138] - The group is exploring the development of liquefied natural gas storage tanks and related facilities on approximately 150,000 square meters of vacant land at the Dongzhou Petrochemical Depot[134] Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the year, with a minor exception regarding attendance at the annual general meeting[10] - The financial statements were prepared in accordance with all applicable Hong Kong Financial Reporting Standards[20] - The group regularly reviews its corporate governance practices to ensure compliance with the corporate governance code[178] Employee and Operational Statistics - As of December 31, 2023, the group had approximately 174 employees, an increase from 172 employees in 2022, with a focus on providing reasonable benefits through social insurance and employee welfare[174] - The number of sales contracts established rose dramatically to 824 in 2023 from 58 in 2022, marking an increase of 1,320.7%[115] - The number of trucks receiving goods rose significantly by 60.1%, reaching 66,470 in 2023 compared to 41,512 in 2022[91] Market Position and Partnerships - The company maintains long-term partnerships with major energy firms such as CNOOC, Sinopec, and Sinochem, enhancing its market position in oil and petrochemical trading in China[92] - The group aims to enhance cooperation with major state-owned enterprises in trade and gas station operations, targeting a distribution volume of 250,000 to 300,000 tons of gasoline, diesel, and fuel oil[119]
汉思能源(00554) - 2023 - 年度业绩