HKU Annual Report 2023

57 AN EXTRACT FROM THE UNIVERSITY’S ANNUAL ACCOUNTS 2022–23 56 HKU ANNUAL REPORT 2023 AN EXTRACT FROM THE UNIVERSITY’S ANNUAL ACCOUNTS 2022–23 OVERVIEW The financial year 2022–23 was the first year of the 2022–25 triennium. The Group demonstrated its commitment to provide worldclass education and research, and delivered impact through internationalisation, innovation and interdisciplinarity. In preparing the consolidated financial statements, the Group has adopted certain new / revised Hong Kong Financial Reporting Standards (HKFRS) issued by the Hong Kong Institute of Certified Public Accountants which are relevant and applicable to the Group’s operation and comply with the Statement of Recommended Practice for the University Grants Committee (UGC)-Funded Institutions. During the financial year, the Group recorded a surplus of HK$1,961 million. Compared to the previous year, there was a reverse from deficit to surplus in 2022–23 as investment performance improved. FINANCIAL OUTLOOK As the financial year 2022–23 ends, the University has entered into the second year of the triennium of 2022–25. The University continues its strong commitment to intellectual freedom, liberty and diversity. For the pursuit of the University’s education mission, the University will continue to invest in human resources, infrastructure and technology upgrades in order to bring high calibre professors and attract top-scoring students. The University’s Annual Accounts can be found at Any correspondence or feedback on this extract or the accounts should be emailed to The consolidated income for the year 2022–23 was HK$14,160 million, an increase of HK$3,532 million from last year. This was mainly due to reverse from investment loss to gain earned during the year, as well as increase in subventions from the UGC and steady growth in tuition fees. The consolidated expenditure increased slightly by 5% to HK$12,201 million (2021–22: HK$11,610 million), of which HK$8,877 million (2021–22: HK$8,614 million) was expended on the Group’s teaching, learning and research activities. RESULTS FOR THE YEAR The Group’s consolidated results for the year ended June 30, 2023 are summarised as follows: Surplus / (Deficit) from Operations Share of Surplus of Joint Ventures and Associates 2023 Income Expenditure Total Comprehensive Income / (Loss) Surplus / (Deficit) for the Year Other Comprehensive Loss 14,160 (12,201) (968) (11) 1,974 (13) 1,959 15 1,961 HK$ (in million) HK$ (in million) (979) (982) 14 10,628 (11,610) SPACE DISTRIBUTION OF SPACE BY CATEGORIES BASED ON TOTAL GROSS COVERED FLOOR AREA As of June 2023 In sq.m. HALLS AND STUDENT RESIDENCES As of June 2023 HKU SPACE GROSS COVERED FLOOR AREA As of June 2023 48,561 sq.m. LAND HOLDINGS As of June 2023 In hectares Main Campus 17.7 Kadoorie Centre 9.6 Medical Campus 4.2 Other Sites on Pokfulam 23.3 Total Area 54.8 Total Gross Covered Floor Area 700,875 Academic Space 329,976 47.1% Central Libraries 44,733 6.4% Central Administration and Maintenance 27,838 4.0% Student and Staff Amenities 31,713 4.5% Others (Including HKU Museum and HKU Press) 6,554 0.9% Student Halls of Residence and Staff Quarters 255,730 36.5% Sports Facilities 4,331 0.6% 2022 Existing 6,450 Places Planned 2,200 Places