Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 70,959,000, a decrease of 20.3% compared to HKD 89,094,000 in 2022[3] - The gross profit for 2023 was HKD 25,202,000, down 38.3% from HKD 40,858,000 in the previous year[3] - The operating loss for the year was HKD 30,481,000, significantly improved from a loss of HKD 67,316,000 in 2022, representing a reduction of 54.7%[3] - The net loss for the year was HKD 31,212,000, compared to a net loss of HKD 68,703,000 in 2022, indicating a 54.5% improvement[4] - The company reported a basic and diluted loss per share of HKD 5.32 for 2023, an improvement from HKD 11.18 in 2022[3] - The gross profit for 2023 was HKD 25.2 million, down from HKD 40.9 million in 2022, aligning with the revenue decline[40] - The net loss for the year was approximately HKD 31.2 million, a reduction from HKD 68.7 million in 2022, primarily due to lower expected credit losses and reduced selling and administrative expenses[42] - The loss attributable to the owners of the company decreased from approximately HKD 67.5 million in 2022 to about HKD 32.1 million in 2023[43] Assets and Liabilities - The total assets as of December 31, 2023, were HKD 381,547,000, a decrease from HKD 399,732,000 in 2022[6] - The total liabilities increased to HKD 48,672,000 in 2023 from HKD 35,687,000 in 2022, marking a rise of 36.3%[8] - Trade receivables at the end of 2023 amounted to HKD 78,446,000, with expected credit loss provisions of HKD 32,327,000[25] - Trade payables at the end of 2023 were HKD 13,062,000, compared to HKD 2,215,000 in 2022[26] - As of December 31, 2023, total assets were approximately HKD 320.7 million, with net assets of HKD 308.0 million[34] - The debt ratio as of December 31, 2023, was approximately 14.6%, up from 9.8% in 2022, with total liabilities of about HKD 48.7 million[47] Cash Flow and Financial Health - The cash and bank balances improved to HKD 12,813,000 in 2023, up from HKD 6,656,000 in 2022, reflecting a 92.5% increase[6] - Cash and cash equivalents as of December 31, 2023, were approximately HKD 12.8 million, an increase from HKD 6.7 million in 2022[45] - The expected credit loss provision decreased to HKD 13,515,000 in 2023 from HKD 23,068,000 in 2022, a reduction of 41.6%[3] Revenue Breakdown - Revenue from mobile application development and related services was HKD 49,380,000, down from HKD 89,094,000 in the previous year[19] - Revenue from computer and mobile-related electronic products and services was HKD 21,579,000, with no revenue reported in 2022[19] - Revenue from Hong Kong increased significantly to HKD 27,679,000 from HKD 4,306,000 in 2022, while revenue from China decreased to HKD 43,280,000 from HKD 84,788,000[20] Expenses and Cost Management - Selling and administrative expenses accounted for 53.5% of the annual revenue in 2023, a significant reduction from 89.9% in 2022, decreasing from approximately HKD 80.1 million to HKD 38.0 million[41] Dividend and Shareholder Information - The company did not recommend any dividend distribution for the year ended December 31, 2023[24] - The company decided not to recommend any dividend for the fiscal year ending December 31, 2023, consistent with the previous year[38] Audit and Governance - The independent auditor issued a disclaimer of opinion on the consolidated financial statements for the year ended December 31, 2023[29] - The group has adopted the corporate governance code and has complied with its provisions throughout the year ending December 31, 2023[59] - The group faced challenges in obtaining complete accounting records from certain subsidiaries, impacting the audit process and financial reporting[31] Human Resources - The total number of employees as of December 31, 2023, is approximately 21, down from 45 in 2022, with total employee costs amounting to approximately HKD 2.2 million compared to HKD 9.0 million in 2022[50] Investment Strategy - The group aims to improve its financial condition by leveraging existing technological knowledge and programs to enrich revenue streams, focusing on sustainable development and potential growth opportunities[51] - The group holds financial assets at fair value amounting to approximately HKD 42.8 million, with significant investments including a loss of HKD 6.5 million from Hui Long Holdings and a profit of HKD 6.1 million from China Investment Finance Group[54] - The group's investment portfolio includes a total loss of HKD 5.1 million for the year, with a total asset value of HKD 42.8 million representing 11.2% of total assets[54] - The group will continue to maintain a diversified investment portfolio and closely monitor investment performance and market trends to adjust its investment strategies accordingly[56] Board of Directors - The group has undergone significant changes in its board of directors, with several resignations and new appointments effective January 31, 2024[62] - Mr. Huang Sile was appointed as an independent non-executive director on February 29, 2024[63] - The board of directors consists of executive directors Mr. Pan Junyan and Mr. Lin Zhijia, and independent non-executive directors Ms. Peng Jingyi, Mr. Xie Dongliang, and Mr. Huang Sile[66] Reporting - The performance announcement and annual report will be published on the Hong Kong Stock Exchange website and the company's website[64]
中国钱包(00802) - 2023 - 年度业绩