Strong points
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Net profit in 2023 is approximately HK$22.2 million, an increase of approximately 39.5% from that of 2022 adjusted.
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Revenue increased by 23.0% to approximately HK$1,008.1 million.
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Gross profit increased 13.6% to approximately HK$129.6 million.
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Launched “Ooodles Smart”, an interior design platform driven by AI technology, to reduce costs and improve efficiency.
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Financial Highlights |
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Fiscal year ended December 31 |
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|
‘000 HK$ |
2023 |
2022 |
Change |
|
|
Income |
1,008,101 |
819,302 |
+23.0% |
|
|
Gross profit |
129,565 |
114,023 |
+13.6% |
|
|
Gross margin |
12.9% |
13.9% |
-1.0pp |
|
|
Net profit for the year attributable to the owners of the Company |
22,168 |
28,065 |
-21.0% |
|
|
Adjusted profit for the year attributable to the owners of the Company |
22,168 |
15,887* |
+39.5% |
|
|
Earnings per share (Hong Kong cents) |
2.77 |
3.51 |
-21.1% |
|
*Ex excluding the exceptional item from the COVID-19 period, namely the subsidy granted under the Employment Support Scheme.
HONG KONG SAR – Media OutReach Newswire – March 27, 2024 – As a leading development contractor in Hong Kong,
Superland Group Holdings Limited (the company), with its subsidiaries, collectively the “Group”; Stock code: 0368.HK), announced its annual results for the financial year ending December 31, 2023 (“Fiscal Year”). During the financial year, the Group recorded an increase in both turnover and (adjusted) net profit. The profit for the year attributable to the owners of the Company was approximately HK$22.2 million, an increase of approximately 39.5% from the adjusted profit for the year ended December 31. 2022. The Group’s revenue was approximately HK$1,008.1 million. , which represents an increase of approximately 23.0% compared to that of the financial year ended December 31, 2022. The Group’s gross margin for the financial year increased by approximately 13.6% to approximately 129. 6 million Hong Kong dollars. During the financial year, basic earnings per share were approximately 2.77 Hong Kong cents.
Activity Report
The Group is an established contractor based in Hong Kong, providing professional fit-out services as well as repair and maintenance services with qualification as a registered electrical contractor, subcontractor and minor works contractors.
The Group’s technology and technical solutions, including the “Ooodles Smart Solution”, allowing interior designs to be previewed and changes made online in real time using artificial intelligence, were officially launched in March this year . The patented and user-oriented solution “Smart Cells and Toilets” for providing a smart toilet experience and the “Ooodles Transformer” for designing users’ space through transformable furniture were also successfully launched in the market. Realizing opportunities arising from these technologies and technical solutions will add value to the Group and diversify the Group’s activities in the future.
The Group is mainly engaged in the provision of fit-out services and repair and maintenance services for residential and commercial properties in Hong Kong. During the year, planning services accounted for approximately 99.8% of total revenue, or approximately HK$1,005.6 million. In comparison, repair and maintenance services cost around HK$2.5 million.
As at 31 December 2023, the Group had a total of 51 (31 December 2022: 46) development projects in progress, which included development projects started but not yet completed and development projects awarded to the Group but has not yet started, with a total total contract amount of approximately HK$4,129 million (December 31, 2022: approximately HK$3,822 million). Among these ongoing projects, 30 projects had a total contract amount of around HK$50 million or more. As of December 31, 2023, the total contract amount of these 30 projects was approximately HK$3,663 million (December 31, 2022: 28 projects: approximately HK$3,451 million).
Business Perspective
As argued in the 2023 Hong Kong Policy Discourse, the HKSAR government will persistently develop land resources to satisfy housing demand. The Group therefore expects the Group’s activity to remain stable in the long term in the development sector in Hong Kong. The Group will devote the necessary resources to further increase its market share if necessary.
The Group has successfully demonstrated its competence in innovation and its leadership position through the integration of its technologies and technical solutions with big data and artificial intelligence, fully recognized by the market in recent years. The Group will continue to develop and apply its technologies and technical solutions in a diversified manner to further improve project management efficiency and assist the development of the industry to create long-term value for our stakeholders.
Looking ahead, the Board remains cautious and optimistic about the Group’s long-term business prospects. The Group will continue to adopt a very cautious approach to ensure the sustainability of the business in 2024. The Group will consider closely monitoring the management of its working capital. The Group will also closely and attentively monitor the latest developments in its core business as well as the potential realization and marketing of its technologies and technical solutions; and adjust its business strategies from time to time as necessary.
Mr. Ng Chi Chiu, Group Chairman, CEO and Executive Director, said: “The Group is committed to improving quality and achieving breakthroughs in the industry through technology. Recently, we launched “Ooodles Smart”, the AI-powered interior design platform. The platform not only provides the industry with an online product showroom. , which is not limited by time, space and region, but also the public with a new experience of interior design.
Hashtag: #SuperlandGroup #德合集团
The issuer is solely responsible for the content of this announcement.
