Financial Performance - Total revenue increased by 10.7% to HKD 487.1 million for the year ended December 31, 2023, compared to HKD 439.9 million in 2022[25]. - The group reported a loss of HKD 164.4 million for the year, including a fair value loss on investment properties of HKD 136.0 million, compared to a profit of HKD 385.5 million in 2022[25]. - Basic loss after excluding property revaluation impacts was HKD 28.3 million, compared to a basic profit of HKD 36.5 million in 2022[25]. - The company reported a loss attributable to shareholders of HKD 185,656,000 for 2023, compared to a profit of HKD 360,115,000 in 2022, indicating a significant decline in profitability[26]. - The company reported a total comprehensive loss of HKD 165,046,000 for the year, compared to a comprehensive income of HKD 383,552,000 in 2022, indicating a substantial downturn[40]. - The company recorded a consolidated loss of HKD 164.4 million in 2023, compared to a profit of HKD 385.5 million in 2022, marking a significant decline[65]. - The basic and diluted loss per share for the year was HKD 0.65, compared to earnings per share of HKD 1.25 in the previous year[26]. Revenue Sources - Core property leasing business saw a slight increase in gross rental income by 2.9% year-on-year[3]. - Revenue from hotel and catering business increased by HKD 35.4 million or 49.3%[3]. - Hotel operations revenue increased to HKD 86.6 million in 2023 from HKD 57.8 million in 2022, representing a growth of 49.8%[50]. - The hotel room revenue and food and beverage revenue for 2023 amounted to HKD 107.1 million, an increase of HKD 35.4 million or 49.3% compared to HKD 71.7 million in 2022[116]. - The office rental income for Montgomery Plaza in 2023 was HKD 70.1 million, a decrease of HKD 3.4 million or 4.6% from 2022[96]. Assets and Liabilities - The total assets as of December 31, 2023, were HKD 11,890,984,000, down from HKD 12,133,849,000 in 2022, showing a decrease of approximately 2%[29]. - The company's non-current assets, including investment properties, decreased to HKD 9,621,524,000 from HKD 9,857,923,000, a decline of about 2.4%[29]. - The net current liabilities increased to HKD 1,396,655,000 in 2023 from HKD 820,403,000 in 2022, indicating a significant rise in short-term financial obligations[31]. - The total liabilities decreased to HKD 2,978.3 million in 2023 from HKD 3,018.7 million in 2022[71]. - The company’s non-current liabilities, including long-term bank loans, decreased to HKD 1,318.0 million in 2023 from HKD 1,904.2 million in 2022[71]. - The total equity attributable to shareholders decreased to HKD 8,912,700,000 from HKD 9,115,120,000, reflecting a decline of approximately 2.2%[29]. - Total equity decreased by HKD 202.4 million to HKD 8,912.7 million, down from HKD 9,115.1 million in 2022[117]. Financial Management - The group aims to maintain sufficient cash and cash equivalents to meet short-term funding needs[10]. - The group will continue to review its property portfolio and manage resources to ensure sufficient internal funding for financial obligations[10]. - The company has refinanced long-term bank loans amounting to HKD 1,018,391,000, extending the maturity to December 2026, which enhances liquidity[31]. - The total interest expense for the year was HKD 145.7 million, an increase of HKD 74.5 million or 104.6% compared to HKD 71.2 million in 2022[112]. - Financial costs increased significantly to HKD 145,743,000 from HKD 71,225,000 in the previous year, representing an increase of approximately 104%[86]. Future Outlook - The economic outlook for Hong Kong is expected to improve with government initiatives to attract international capital and talent[5]. - The company expects a moderate recovery in the leasing market for retail and residential units in 2024, driven by new leases and renewals[69]. - The company anticipates that Hong Kong interest rates may start to decline in the second half of 2024, potentially boosting economic growth[67]. Dividends and Capital Expenditures - Proposed final dividend of HKD 0.06 per share, consistent with the previous year[25]. - Capital expenditures for the year were HKD 36,470,000, up from HKD 46,935,000 in the previous year, reflecting a decrease of approximately 22%[79][81]. - The capital expenditure for the year ended December 31, 2023, was HKD 36.5 million, down from HKD 46.9 million in 2022[98]. Miscellaneous - There were no significant investments or acquisitions of subsidiaries, associates, or joint ventures during the year ended December 31, 2023[123]. - The auditors confirmed that the preliminary performance announcement figures were consistent with the group's consolidated financial statements for the year ended December 31, 2023[129].
大生地产(00089) - 2023 - 年度业绩