To Our Shareholders,
I am pleased to present to our shareholders the annual report of Matrix Holdings Limited (the “Company”) and its subsidiaries (collectively the “Group”) for the financial year ended 31 December 2023.
For the year of 2023, the Group’s consolidated revenue decreased by approximately HK$271,608,000 or 27.5% to approximately HK$714,486,000 from approximately HK$986,094,000 of last year. The loss attributable to the owners of the Company amounted to approximately HK$102,604,000, representing a decrease of 1,747.5% as compared with the last year’s profit in approximately HK$6,228,000.
The global economy was experiencing significant challenges in 2023 due to sluggish growth prospects, heightened inflation, and increased uncertainties. Various factors, such as the ongoing effects of the pandemic, the prolonged conflict in Ukraine, and rapidly changing macroeconomic conditions, were exerting pressure on the worldwide economic outlook. In response to high inflation rates in both developed and developing countries, there has been a notable rise in interest rates, marking one of the most aggressive cycles in decades, leading to a decline in consumer confidence. Furthermore, affected by the difficulties caused by the weak global economy, customer inventory levels are relatively high, causing customers to generally adopt a more cautious attitude towards inventory management and placing orders.
I would like to emphasize the significant importance of Environmental, Social, and Governance (“ESG”) factors for the sustainable growth of the Group. We are committed to operating as an environmentally conscious and socially responsible corporation. The Board of Directors and management have integrated ESG principles into the Group’s mission and implemented them into our daily operations. The details in relation to our performance in these aspects are set out in the ESG Report on page 35 to 48.
Lastly, I would like to express my sincere appreciation to all of our stakeholders, including shareholders, customers, business partners and suppliers, for their continuous support and trust in all aspects of the Group’s activities. I would also like to express my gratitude to the management and all staff for their indispensable and enthusiastic contribution and commitment to the Group.
Cheng Yung Pun
Chairman
Hong Kong, 28th June, 2024
