HYPEBEAST(00150)

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HYPEBEAST(00150) - 2024 - 中期财报
2023-12-08 08:30
Financial Performance - For the six months ended September 30, 2023, the company reported a net exchange gain of HKD 2,576,000, compared to a loss of HKD 8,560,000 in the same period of 2022, indicating a significant improvement [3]. - Total income for the six months ended September 30, 2023, was HKD 4,295,000, a decrease of 70.8% from HKD 14,696,000 in the previous year [3]. - The company reported a loss attributable to owners of the company of HKD 9,983,000 for the six months ended September 30, 2023, compared to a loss of HKD 64,693,000 in the same period of the previous year, indicating a significant reduction in losses [14]. - The company recorded a net cash inflow from operating activities of HKD 3.1 million in the first half of fiscal year 2024, compared to a cash outflow of HKD 61.8 million in the same period last year [84]. - The company narrowed its net loss to HKD 10,000,000 in the first half of fiscal year 2024, a significant reduction of 84.6% compared to HKD 64,700,000 in the same period last year [90]. - The total comprehensive loss for the period was approximately HKD 25.6 million, compared to HKD 82.2 million for the same period in 2022 [120]. - The company reported a basic loss per share of HKD (0.49), compared to HKD (3.15) in the previous year, indicating an improvement in performance [182]. Revenue and Profitability - Media segment revenue for the first half of fiscal year 2024 was HKD 280 million, a decrease of 6.1% compared to HKD 300 million in the first half of fiscal year 2023 [71]. - The gross profit for the media segment in the first half of fiscal year 2024 was HKD 150 million, down by HKD 22.7 million or 12.9% from the previous year [77]. - The e-commerce and retail segment's gross profit for the first half of fiscal year 2024 was HKD 53.7 million, a decrease of HKD 4.7 million or 8.1% compared to HKD 58.4 million in the first half of fiscal year 2023 [79]. - Overall gross profit decreased by approximately 11.7% to HKD 210 million in the first half of fiscal year 2024 from HKD 230 million in the previous year [81]. - The e-commerce and retail segment's revenue increased by 5.7% to HKD 160,000,000 in the first half of fiscal year 2024, driven by inventory optimization and increased promotional activities [89]. - Total revenue for the media segment reached HKD 283,111,000, while the e-commerce and retail segment generated HKD 156,896,000, resulting in a combined total of HKD 440,007,000 [161]. Expenses and Liabilities - The company incurred a tax expense of HKD 2,245,000 for the six months ended September 30, 2023, compared to HKD 19,198,000 in the same period of 2022, representing an 88.3% decrease [5]. - Selling and marketing expenses decreased by 12.1% to HKD 91,800,000, representing 20.9% of revenue, down from 23.2% in the previous year [93]. - Administrative and operating expenses increased by 3.5% to HKD 125,000,000, accounting for 28.3% of revenue, up from 26.8% in the previous year [95]. - The group incurred a loss before tax of approximately HKD 7.7 million for the six months ended September 30, 2023, compared to a loss of HKD 45.5 million for the same period in 2022 [120]. - The company reported a net cash outflow from financing activities of HKD 16,990,000 for the six months ended September 30, 2023, compared to HKD 9,116,000 in the previous year [122]. Assets and Equity - As of September 30, 2023, the group had total assets of approximately HKD 590 million, down from HKD 640 million as of March 31, 2023 [108]. - Total liabilities decreased to approximately HKD 150 million from HKD 180 million as of March 31, 2023, resulting in shareholders' equity of approximately HKD 440 million [108]. - The company's total assets amounted to HKD 468,294,000, a decrease of 5.9% from HKD 497,664,000 as of March 31, 2023 [121]. - The total equity of the company as of September 30, 2023, was HKD 442,841,000, down from HKD 466,605,000, indicating a decrease of 5.1% [121]. Shareholder and Governance - The company has a major shareholder, CORE Capital, holding 1,485,000,000 shares, representing 72.29% of the total issued shares [44]. - The company has adopted the corporate governance code and confirmed compliance with the relevant provisions, except for the separation of roles between the Chairman and CEO [41]. - The company’s board believes that the dual role of the Chairman and CEO provides strong and consistent leadership [58]. - The company has not declared or proposed any dividends during the interim period [166]. Operational Developments - The company operates in two main segments: media assets providing creative advertising services and digital media distribution, and e-commerce and retail selling apparel and lifestyle products [61]. - The company is focusing on developing new editorial categories to attract a broader user base, including golf, arts, and entertainment content [70]. - The company continues to invest in consumer short videos and social media platforms to enhance brand awareness and attract new users [70]. - The company aims to integrate its e-commerce and retail shopping media platform directly into its media platforms to encourage user conversion [70]. - The company has optimized its inventory and product mix to improve gross and net profit margins amid ongoing business optimization efforts [79]. Foreign Exchange and Interest Rates - The company experienced a significant improvement in foreign exchange gains, recording a net gain of HKD 2.6 million in the first half of fiscal year 2024, compared to a net loss of HKD 8.6 million in the previous year [82]. - The company’s cash and cash equivalents were subject to interest rates ranging from 0.001% to 5.42% as of September 30, 2023, compared to 0.001% to 4.63% as of March 31, 2023 [16]. - The effective interest rate for floating rate borrowings ranged from 3.94% to 6.92% as of September 30, 2023, compared to 4.13% to 4.65% as of March 31, 2023 [32]. Employment and Costs - Employee costs for the six months ended September 30, 2023, were approximately HKD 170 million, an increase from HKD 160 million for the same period in 2022, mainly due to severance payments and other employee-related expenses [118]. - The group employed a total of 523 employees as of September 30, 2023, down from 553 employees as of September 30, 2022 [118].
HYPEBEAST(00150) - 2024 - 中期业绩
2023-11-22 10:42
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 Hypebeast Limited (於開曼群島註冊成立之有限公司) (股份代號:00150) 截至二零二三年九月三十日止六個月之 中期業績公告 中期業績 Hypebeast Limited(「本公司」)董事(「董事」)會(「董事會」)呈列本公司及其附屬公司(統稱「本集團」)截 至二零二三年九月三十日止六個月(「二零二四財年上半年」)的未經審核簡明綜合中期業績,連同截至 二零二二年九月三十日止六個月(「二零二三財年上半年」)的未經審核比較數字如下: 財務摘要 二零二四 二零二三 財年上半年 財年上半年 千港元 千港元 (未經審核) (未經審核) 收益 440,007 450,014 — 媒體 283,111 301,564 — 電子商務及零售 156,896 148,450 毛利 206,826 234,225 毛利率 47.0% 52.0% 銷售及營銷開支 (91,815) (104,388) 行政及 ...
HYPEBEAST(00150) - 2023 - 年度财报
2023-07-25 08:39
Website and Audience Engagement - The average monthly unique visitors to the website increased by 14.6% compared to the 2022 fiscal year[11] - Total social media followers reached 34 million, reflecting significant growth in audience engagement[11] - Hypebeast's platforms, including Hypebeast, Hypebae, and Popbee, have gained the trust of over one million global readers[17] Revenue and Financial Performance - Total revenue for the fiscal year 2023 was HKD 960 million, with a gross profit of HKD 505 million[30] - Media revenue accounted for HKD 644 million, while e-commerce and retail revenue reached HKD 316 million[30] - The company reported a pre-tax profit of HKD 18 million, despite an annual loss of HKD 5 million[30] - The media segment's revenue for fiscal year 2023 was HKD 644.2 million, a slight decrease of 1.4% from HKD 653.6 million in fiscal year 2022[44] - The media segment's gross profit for fiscal year 2023 was HKD 374.5 million, down from HKD 450.9 million in fiscal year 2022[44] - The adjusted profit for the fiscal year 2023 decreased by 80.3% to HKD 27,900,000 from HKD 141,700,000 in fiscal year 2022[52] - EBITDA for fiscal year 2023 decreased by 56.8% to HKD 93,100,000 from HKD 215,800,000 in fiscal year 2022[52] - Revenue cost increased by approximately 31.3% to HKD 454,600,000 in fiscal year 2023 from about HKD 346,300,000 in fiscal year 2022[53] - Overall gross margin decreased from approximately 61.3% in fiscal year 2022 to about 52.6% in fiscal year 2023[54] Operational Efficiency and Cost Control - The company plans to prioritize operational efficiency and cost control to ensure profitability across all departments[13] - The company implemented cost and efficiency measures to mitigate risks during economic challenges[9] - The company aims to enhance its ecosystem to strengthen connections between brands and readers, focusing on unique and authentic content[14] - The company is focusing on creating new products and experiences to generate long-term value[13] Market Expansion and New Initiatives - The company launched new platforms targeting Latin America and Africa, expanding its content reach[10] - The company is expanding its retail presence with flagship stores in New York and Hong Kong, and official stores on Tmall and WeChat in mainland China[26] - The company is launching Hypebeast Latin America and Hypebeast Africa to provide high-quality content tailored to unique regional interests[43] - The company is expanding its digital content offerings to attract a broader audience, including new editorial categories in golf, arts, and entertainment[43] Employee and Workforce Management - The company employed a total of 576 employees as of March 31, 2023, compared to 470 employees on March 31, 2022, reflecting an increase in workforce[80] - Employee costs for the fiscal year ending March 31, 2023, amounted to approximately HKD 317.2 million, up from HKD 240.9 million for the previous fiscal year, primarily due to the increase in employee numbers[80] - The company maintained a focus on employee welfare, offering benefits such as fitness membership discounts and pet-friendly offices[196] - The company organized year-end parties to recognize employee contributions, enhancing employee engagement[196] Corporate Governance and Compliance - The company has achieved compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO[93] - The company has a strong commitment to corporate governance, emphasizing transparency and accountability to maintain stakeholder trust[93] - The board consists of five members, including three independent non-executive directors, ensuring a balance of experience and independent judgment[95] - The company has established a whistleblowing policy to prevent corruption and bribery, with internal reporting channels available for employees[124] Environmental, Social, and Governance (ESG) Initiatives - The group reported a continuous reduction in emissions and resource consumption due to waste reduction initiatives implemented during the reporting period[135] - The group has established clear short-term and long-term sustainability goals to support the Hong Kong government's aim for carbon neutrality by 2050[135] - The group aims to reduce greenhouse gas emissions by approximately 3% by 2026 and achieve carbon neutrality in Hong Kong and China by 2050 and 2060, respectively[185] - The company recognizes climate change as a significant risk and is integrating identified risks into its business strategy and risk management framework[184] Financial Position and Cash Flow - The company recorded a net cash outflow from operating activities of HKD 65,500,000 in FY2023, compared to an inflow of HKD 158,600,000 in FY2022[60] - Total assets as of March 31, 2023, were approximately HKD 642,400,000, down from HKD 730,000,000 a year earlier, with total liabilities decreasing from HKD 252,100,000 to HKD 175,800,000[62] - Cash and cash equivalents decreased by HKD 118,200,000 to HKD 166,000,000 as of March 31, 2023, impacted by a net cash outflow from financing activities of HKD 40,800,000[60] Risk Management and Internal Controls - The board has reviewed the effectiveness of the risk management and internal control systems, concluding that they are adequate and effective for the year ended March 31, 2023[126] - The company has implemented measures to reduce credit risk, including credit assessments for new customers and monitoring existing customers' financial conditions[70] - The company has established a system to assess sanction risks before engaging in business opportunities with sanctioned countries or individuals[126]
HYPEBEAST(00150) - 2023 - 年度业绩
2023-06-26 14:00
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 Hypebeast Limited (於開曼群島註冊成立之有限公司) (股份代號:00150) 截至二零二三年三月三十一日止年度之 全年業績公告 全年業績 Hypebeast Limited(「本公司」)董事(「董事」)會(「董事會」)欣然呈列本公司及其附屬公司(統稱「本集團」) 截至二零二三年三月三十一日止年度(「二零二三財政年度」)的經審核綜合全年業績,連同截至二零 二二年三月三十一日止年度(「二零二二財政年度」)的經審核比較數字如下: 財務摘要 二零二三 二零二二 財政年度 財政年度 千港元 千港元 收益 959,973 895,632 — 媒體 644,205 653,590 — 電子商務及零售 315,768 242,042 毛利 505,418 549,313 毛利率 52.6% 61.3% 銷售及營銷開支 (218,259) (160,391) 行政及經營開支 (229,848) (202 ...
HYPEBEAST(00150) - 2023 - 中期财报
2022-12-14 08:38
HYPEBEAST LIMITED INTERIM REPORT 中期報告 2022 HYPEBEAST - l Incorporated in the Cayman Islands with limited liability STOCK CODE 00150 - l 於開曼群島 註冊成立的有限公司 股份代號 00150 目錄 | --- | --- | |----------------------------------|-------| | | | | 中期業績 | 2 | | 管理層討論及分析 | 2 | | 簡明綜合財務報表之審閱報告 | 19 | | 簡明綜合損益及其他全面收益表 | 21 | | 簡明綜合財務狀況表 | 22 | | 簡明綜合權益變動表 | 24 | | 簡明綜合現金流量表 | 25 | | 簡明綜合財務報表附註 | 26 | | 權益披露 | 62 | | 競爭及利益衝突 | 66 | | 購買、出售或贖回本公司的上市證券 | 66 | | 企業管治常規 | 67 | | 董事的證券交易 | 67 | | 購股權計劃 | 68 | | 已獲審核委員會及核數師審閱 | 70 | ...
HYPEBEAST(00150) - 2022 - 年度财报
2022-07-26 08:35
Financial Performance - The company reported record revenue and profitability for the fiscal year 2022, marking a significant year of growth[5] - Total revenue for the fiscal year 2022 was HKD 896 million, with a net profit of HKD 100 million[25] - Gross profit amounted to HKD 549 million, resulting in a gross margin of approximately 61%[30] - The company reported a revenue of HKD 895.632 million for the fiscal year 2022, representing a 32.8% increase from HKD 674.212 million in fiscal year 2021[40] - Gross profit for the fiscal year 2022 reached HKD 549.313 million, a significant increase of 64.4% compared to HKD 334.127 million in the previous fiscal year[40] - Adjusted EBITDA for the fiscal year 2022 was HKD 204.437 million, up 66.8% from HKD 122.596 million in fiscal year 2021[40] - Adjusted profit for the fiscal year 2022 increased by 84.7% to HKD 130,400,000, primarily due to revenue growth in the media and e-commerce segments and cost-saving measures[54] - Total profit and comprehensive income rose by 38.3% from approximately HKD 74,500,000 in fiscal year 2021 to approximately HKD 103,000,000 in fiscal year 2022, with a slight increase in net profit margin from 11.1% to 11.5%[66] Business Segments and Growth - The media and agency segments maintained strong momentum, with new business areas like Hypemoon, Hypeart, and Hypegolf contributing to revenue diversification[6] - The company is focused on expanding its distribution channels into new regions and optimizing product categories, including fashion lifestyle products and collectibles[6] - The company has established strong business relationships with over 250 e-commerce and international brands, capitalizing on the vast opportunities in the global apparel and sneaker market[10] - The company continues to enhance its digital media platform, Hypemedia, and creative services agency, Hypemaker, to strengthen community engagement and brand connections[10] - The company aims to leverage its unique brand engagement and customer loyalty to drive further business development[10] - Revenue for the fiscal year 2022 increased by HKD 221,400,000 or 32.8% to HKD 895,600,000, with the media segment growing by 46.1% to HKD 653,600,000 and the e-commerce and retail segment increasing by 6.7% to HKD 242,000,000[41] Operational Developments - The newly opened Hypebeast building in the U.S. spans seven floors and includes the HBX flagship store, Hypebeans café, and event space, aimed at accelerating growth in North America[8] - Hypebeans opened its first U.S. store in New York in 2022, expanding its presence beyond Hong Kong and Seoul[23] - The flagship HYPEBEAST building opened in Manhattan's Chinatown on June 17, 2022, serving as a multifunctional space for retail and cultural events[36] - The company is investing in both online and offline channels to create meaningful connections with its community[6] - The company is focusing on enhancing user experience on the HBX platform to encourage seamless shopping for its loyal readership[38] Market and User Engagement - The company has a loyal and engaged user base, primarily consisting of high-income Generation Z and millennials, across over 80 markets globally[10] - The company aims to connect cultural exploration with global audiences through its three main business segments: Hypemedia, HBX, and Hypemaker[14] - The media division's activities have surpassed pre-COVID-19 levels, indicating a recovery in demand for offline events and promotions[36] Expenses and Financial Management - Administrative and operating expenses were HKD 203 million, while sales and marketing expenses totaled HKD 160 million[25] - Sales and marketing expenses increased by 42.2% from HKD 112,800,000 in fiscal year 2021 to HKD 160,400,000 in fiscal year 2022, with the revenue percentage slightly increasing from 16.7% to 17.9%[59] - Administrative and operating expenses rose by 62.1% from HKD 125,000,000 in fiscal year 2021 to HKD 202,700,000 in fiscal year 2022, with the revenue percentage increasing from 18.5% to 22.6%[61] Corporate Governance - The company is committed to maintaining high levels of corporate governance, ensuring compliance with regulations and fostering accountability and transparency to create long-term value for shareholders[108] - The board consists of a mix of executive and independent non-executive directors, ensuring a balance of skills and experience necessary for effective oversight of the business[112] - The company has adopted the standard code of conduct for securities trading by directors, confirming full compliance with the regulations during the reporting period[109] - The audit committee reviewed the consolidated financial statements for the year ending March 31, 2022, and the six months ending September 30, 2021[127] Environmental and Social Responsibility - The group has established clear short-term and long-term sustainability goals to address waste reduction and achieve continuous emission and resource reduction[153] - The company has been recognized for its environmental efforts, receiving the "Outstanding Environmental Partner - Bank of China (Hong Kong) Corporate Environmental Leadership Award" for two consecutive years[171] - The company is committed to sustainable practices and aims to integrate various sustainability routines into its operations[171] - The company prioritizes working with suppliers that adhere to strict environmental and sustainable development measures[185] Risk Management - The company has a strong focus on risk management practices to mitigate operational and financial risks[94] - The company’s financial risk management policies are detailed in the consolidated financial statements[94] - The company faces risks related to maintaining relationships with existing brand owners and advertising agencies, as well as attracting new digital media clients[93]
HYPEBEAST(00150) - 2022 - 中期财报
2021-12-08 08:32
Media Division Performance - Media division revenue for the first half of fiscal year 2022 reached HKD 326.9 million, a significant increase of 89.4% compared to HKD 172.6 million in the first half of fiscal year 2021[9] - The media division's gross profit for the first half of fiscal year 2022 was HKD 207.4 million, up from HKD 86.9 million in the same period last year[9] - Total signed contract value for the media division reached a record high, increasing by 54.4% compared to the first half of fiscal year 2021, driven by expansion in core markets such as the US, UK, China, Hong Kong, and South Korea[10] - The media division's revenue for the first half of fiscal year 2022 also showed a 24.6% increase compared to pre-COVID-19 levels in the first half of fiscal year 2020[9] - The media segment achieved a gross profit of HKD 207.4 million in the first half of the fiscal year 2022, an increase of HKD 120.4 million or approximately 138.5% compared to the same period in fiscal year 2021[11] - The gross profit margin for the media segment increased significantly to 63.4% in the first half of fiscal year 2022, up 13.0 percentage points from 50.4% in the same period of fiscal year 2021[11] - The company anticipates continued growth in media contracts as brands shift marketing budgets from traditional to digital channels due to the COVID-19 pandemic[7] - The company expects the growth momentum in the media division to continue and accelerate throughout the remainder of fiscal year 2022[9] - The media segment's operating profit was HKD 137,340 thousand, compared to HKD 48,934 thousand in the previous year, showing a growth of 180.5%[70] E-commerce and Retail Performance - E-commerce and retail segment revenue increased by 1.0% to HKD 113.9 million in the first half of fiscal year 2022, with gross profit rising by HKD 10 million or 24.5% to HKD 51 million[12] - The average retail price of sold products on HBX.com rose from approximately HKD 969 to HKD 1,050, while the average transaction value increased by 8.1% to HKD 1,929 in the first half of fiscal year 2022[12] - The e-commerce and retail segment reported an operating profit of HKD 1,303 thousand, a decrease from HKD 2,212 thousand year-over-year[70] Financial Overview - For the six months ended September 30, 2021, the group's revenue was HKD 440,837,000, an increase from HKD 285,452,000 for the same period in 2020, representing a growth of approximately 54.5%[54] - The gross profit for the same period was HKD 258,362,000, compared to HKD 127,896,000 in 2020, indicating a significant increase of about 102.1%[54] - The net profit for the period was HKD 62,974,000, compared to HKD 20,889,000 in 2020, marking an increase of approximately 201.5%[54] - The overall gross profit margin improved to approximately 58.6% in the first half of fiscal year 2022, up from 44.8% in the same period of fiscal year 2021[16] - The pre-tax profit for the group was HKD 79,538 thousand, compared to HKD 27,134 thousand in the previous year, indicating a substantial increase of 193.5%[70] Assets and Liabilities - As of September 30, 2021, the group's total assets amounted to approximately HKD 682.8 million, an increase from HKD 581.6 million as of March 31, 2021[25] - The total liabilities of the group increased to HKD 247,284 thousand from HKD 220,342 thousand, representing an increase of 12.2%[73] - The group's inventory balance increased from approximately HKD 42.4 million as of March 31, 2021, to HKD 54.3 million as of September 30, 2021, reflecting a procurement level returning to pre-COVID-19 levels[26] - The group's capital-to-debt ratio was approximately 2.0% as of September 30, 2021, up from 1.7% as of March 31, 2021, due to new bank borrowings in the first half of the 2022 fiscal year[31] Expenses and Profitability - Selling and marketing expenses increased by 43.7% to HKD 71.4 million in the first half of fiscal year 2022, with the revenue percentage decreasing from 17.4% to 16.2%[22] - Administrative and operating expenses rose by 74.4% to HKD 93.5 million in the first half of fiscal year 2022, with the revenue percentage increasing from 18.8% to 21.2%[22] - Employee costs for the six months ended September 30, 2021, amounted to approximately HKD 112,500,000, up from HKD 63,700,000 in the previous year, reflecting an increase of around 76.5%[44] Shareholder and Corporate Governance - The company has adopted the corporate governance code as per the Main Board Listing Rules, with the exception of code provision A.2.1, which states that the roles of Chairman and CEO should be separate[183] - The company believes that having the same individual serve as both Chairman and CEO provides strong and consistent leadership[183] - The company has maintained high levels of corporate governance to ensure transparency and accountability, which is crucial for gaining stakeholder trust[183] Share Options and Compensation - The company has established a pre-IPO share option plan to incentivize eligible participants for their contributions to the group's performance and growth[118] - The total expense recognized for share options granted by the company during the six months ended September 30, 2021, was approximately HKD 3,214,000, compared to HKD 1,536,000 for the same period in 2020[197] - The company reported a total compensation of HKD 3,030,000 for key management personnel during the period, compared to HKD 923,000 for the same period last year[162]
HYPEBEAST(00150) - 2021 - 年度财报
2021-07-15 10:08
Business Performance - The company experienced a strong recovery in its advertising and media business, concluding the year with an outstanding performance in Q4 despite initial challenges due to COVID-19 lockdowns[6]. - The company reported improved profit margins and an excellent performance in Q4, indicating a positive outlook for revenue growth in both media and e-commerce segments[10]. - The company's revenue decreased by 10.3% from approximately HKD 751.4 million in the fiscal year 2020 to approximately HKD 674.2 million in the fiscal year 2021[20]. - The digital media segment generated revenue of approximately HKD 447.4 million, a decrease of about 5.5% from approximately HKD 473.5 million in the previous fiscal year[22]. - The e-commerce segment's revenue fell by approximately 18.4% from about HKD 277.8 million in the fiscal year 2020 to approximately HKD 226.8 million in the fiscal year 2021[28]. - The company recorded a strong revenue of HKD 200.9 million in Q4 of the fiscal year 2021, representing a 6.9% increase from Q3 and a 45.3% increase year-over-year[20]. E-commerce and Product Expansion - E-commerce and retail operations expanded significantly, introducing new product categories such as lifestyle products, collectible toys, and home goods, driven by consumer trends during the pandemic[7]. - The company has expanded its product offerings to include home goods, toys, and other lifestyle products, receiving positive customer feedback[28]. - The company has expanded its distribution channels to new regions, including the recent launch of HBX in Korea and Japan, enhancing local product accessibility[7]. Digital Strategy and Advertising - The company aims to enhance its digital advertising strategies, anticipating continued growth in this area as brands shift focus towards digital marketing[6]. - The company is committed to producing more video content on platforms like TikTok and YouTube to engage with its growing audience[5]. - The company’s digital content targets young audiences, covering trends in fashion, lifestyle, technology, art, and culture through various media platforms[12]. Future Plans and Developments - The company plans to launch the Hypebeast ecosystem in the second half of the fiscal year 2022, integrating its various divisions to provide a seamless one-stop service for users[8]. - A flagship store in New York City’s Chinatown is set to open in the second half of fiscal year 2022, serving as the North American headquarters and a physical space for cultural activities[10]. - The company plans to open a flagship retail store in New York City in the second half of the fiscal year 2022 to enhance brand visibility and community building[17]. - The company will establish entities in Singapore and South Korea in the next fiscal year to support its digital media segment and retail operations[17]. Financial Management and Performance - The group's revenue cost decreased by approximately 8.6% from about HKD 372.1 million in FY2020 to about HKD 340.1 million in FY2021, primarily due to lower sales and inventory levels related to e-commerce operations[31]. - Gross profit decreased by approximately 11.9% from about HKD 379.3 million in FY2020 to about HKD 334.1 million in FY2021, with the overall gross margin slightly declining from approximately 50.5% to about 49.6%[32]. - Sales and marketing expenses decreased by approximately 29.0% from about HKD 158.8 million in FY2020 to about HKD 112.8 million in FY2021, representing about 16.7% of revenue, down from approximately 21.1%[36]. - Administrative and operating expenses slightly decreased by about 0.8% from approximately HKD 126.0 million in FY2020 to about HKD 125.0 million in FY2021, with the percentage of revenue increasing from about 16.8% to approximately 18.5%[37]. - The group's profit and total comprehensive income increased by 13.4% from about HKD 65.7 million in FY2020 to about HKD 74.5 million in FY2021, driven by effective cost control and recovery from the COVID-19 pandemic[42]. Corporate Governance - The company is committed to maintaining high levels of corporate governance to build trust with shareholders and stakeholders[82]. - The board has confirmed compliance with the corporate governance code for the year ending March 31, 2021, except for specific provisions regarding the separation of roles between the chairman and CEO[82]. - The board consists of three independent non-executive directors, representing over one-third of the board members, with at least one possessing appropriate professional qualifications in accounting or finance[94]. - The company has purchased directors and officers liability insurance to protect against legal actions taken against directors[96]. - The chairman and CEO, Mr. Ma, holds both positions, which the board believes provides strong leadership and effective management[92]. - The board is responsible for overseeing the company's overall management and ensuring alignment with shareholder interests[89]. Employee Management and Well-being - The group employed a total of 363 employees, a decrease from 401 employees as of March 31, 2020[65]. - Employee costs for the year ended March 31, 2021, were approximately HKD 142.5 million, down from approximately HKD 170.4 million for the year ended March 31, 2020[65]. - The employee turnover rate increased to 40% in 2021 from 33% in 2020, indicating a significant rise in employee departures[197]. - The company maintains a competitive compensation package, including medical benefits and stock option plans to attract and retain talent[189]. - The health and safety policy is aligned with occupational safety guidelines, aiming to provide a safe and healthy work environment for employees[198]. Environmental and Social Responsibility - The total greenhouse gas emissions for the reporting period were 172,652.75 kg CO2 equivalent, a decrease of approximately 59% compared to the previous year[152]. - The greenhouse gas emissions per employee were 475.63 kg CO2 equivalent, down from 1,041.69 kg CO2 equivalent in the previous year, reflecting a 54% reduction[155]. - The total waste generated during the reporting period was approximately 9.98 tons, a significant decrease from 13.15 tons in the previous year[160]. - The company has implemented environmental policies to minimize emissions, energy consumption, and waste generation[151]. - The company encourages employees to adopt waste reduction practices, resulting in a significant decrease in non-hazardous waste[160].
HYPEBEAST(00150) - 2021 - 中期财报
2020-12-01 08:32
Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 285,452 thousand, a decrease of 29% compared to HKD 401,344 thousand in the same period of 2019[3] - Gross profit for the same period was HKD 127,896 thousand, down 31.5% from HKD 186,793 thousand year-on-year[3] - Net profit for the period was HKD 20,889 thousand, representing a decline of 24.2% from HKD 27,518 thousand in the previous year[3] - Basic earnings per share decreased to HKD 1.03 from HKD 1.37, reflecting a 25% drop[3] - The group's total profit and comprehensive income decreased by approximately 23.7% from about HKD 27,400,000 for the six months ended September 30, 2019, to about HKD 20,900,000 for the six months ended September 30, 2020, primarily due to the impact of COVID-19 on revenue[87] Cash Flow and Assets - Cash generated from operating activities significantly increased to HKD 103,643 thousand from HKD 910 thousand in the prior year[10] - Total assets as of September 30, 2020, were HKD 384,794 thousand, compared to HKD 377,517 thousand as of March 31, 2020[5] - The company reported a net cash increase of HKD 76,941 thousand for the period, contrasting with a decrease of HKD 13,063 thousand in the previous year[10] - Non-current assets increased to HKD 121,835 thousand from HKD 76,648 thousand, indicating a growth of 59%[5] - The group's total assets as of September 30, 2020, were approximately HKD 506,600,000, an increase from about HKD 454,200,000 as of March 31, 2020[88] Revenue Segmentation - The digital media segment generated revenue of HKD 172,637,000, down from HKD 262,429,000 in the previous year, representing a decline of 34%[23] - The e-commerce segment reported revenue of HKD 112,815,000, compared to HKD 138,915,000 in the prior year, reflecting a decrease of 19%[23] - Digital media segment revenue decreased from approximately HKD 262.4 million for the six months ended September 30, 2019, to approximately HKD 172.6 million for the six months ended September 30, 2020, a reduction of about 34.5%[73] - E-commerce revenue decreased from approximately HKD 138,915,000 to HKD 112,815,000, a decline of about 18.8% year-on-year[72] Taxation - The income tax expense for the six months ended September 30, 2020, was HKD 6,245,000, down from HKD 7,516,000 in the same period of 2019, a reduction of approximately 17%[25] - The group operates under the two-tier profits tax system in Hong Kong, with a tax rate of 8.25% on the first HKD 2,000,000 of profits and 16.5% on profits exceeding that amount[26] - The group’s subsidiaries in China are subject to a corporate income tax rate of 25%[26] Employee and Operational Metrics - As of September 30, 2020, the group employed a total of 348 employees, down from 376 employees as of September 30, 2019[105] - Employee costs for the six months ended September 30, 2020, were approximately HKD 63.7 million, compared to HKD 83 million for the same period in 2019, representing a decrease of about 23.3%[105] - Sales and marketing expenses decreased by approximately 42.9% from approximately HKD 87.1 million to approximately HKD 49.7 million, representing 17.4% of revenue compared to 21.7% in the previous period[80] - Administrative and operating expenses decreased by approximately 14.5% from approximately HKD 62.7 million to approximately HKD 53.6 million, with the percentage of revenue increasing from about 15.6% to 18.8%[81] Corporate Governance and Compliance - The company confirmed compliance with the corporate governance code, except for provisions A.2.1 and E.1.2[126] - The company has adopted the standard code of conduct for securities transactions by directors, with no non-compliance incidents reported during the relevant periods[129] - The audit committee consists of three independent non-executive directors who reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[141] Future Plans and Strategies - The group aims to enhance its digital media production capabilities to improve the quality and quantity of internal editorial and sales content, expecting increased revenue from integrated digital platforms and creative agency services[60] - The group plans to expand its digital media customer base in industries such as technology, gaming, and consumer goods, targeting millennials and Generation Z[60] - The company plans to focus on online activities and increase engagement with non-traditional clients, particularly in the Asia-Pacific region[64] - The company aims to enhance its customer relationship management tools and digital marketing strategies to drive e-commerce growth[69] Impact of COVID-19 - The company has implemented various measures to ensure employee safety and well-being during the COVID-19 pandemic, including remote work policies and providing masks and sanitizers[58] - The company experienced a slight decline in e-commerce due to COVID-19, with procurement reduced by approximately 20% during the fiscal year[65] - The company anticipates that the shift to digital activities will lead to a permanent increase in profit margins despite expected slight increases in event costs post-COVID-19[62] - The group has applied for government subsidies in various regions to support its business operations amid the impact of COVID-19[59] Shareholder Information - The major shareholder, CORE Capital Group Limited, held 1,485,000,000 shares, representing 72.85% of the company's issued shares as of September 30, 2020[121] - The total number of shares held by directors and key executives in the company amounted to 1,485,780,000 shares, which is approximately 72.89% of the total issued shares[109] Miscellaneous - The company has not reported any new product launches or significant market expansions during this period[3] - There were no significant investments or acquisitions made by the company in subsidiaries or associated companies for the six months ended September 30, 2020[103] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2020[125]
HYPEBEAST(00150) - 2020 - 年度财报
2020-07-22 08:40
Financial Performance - Hypebeast's e-commerce platform HBX generated over 70% of total profits for the fiscal year 2020 from six core markets: the United States, China, Hong Kong, South Korea, Japan, and Taiwan[7]. - The company's revenue increased from approximately HKD 672.2 million for the year ended March 31, 2019, to approximately HKD 751.4 million for the year ended March 31, 2020, representing a growth of about 11.8%[27]. - The digital media segment's revenue rose from approximately HKD 430.7 million to approximately HKD 473.5 million, an increase of about HKD 42.8 million, primarily due to an 8.8% increase in average contract value[28]. - The e-commerce segment's revenue increased by approximately 15.0% from about HKD 241.5 million to approximately HKD 277.8 million, driven by a 5.0% increase in customer orders[29]. - The overall gross profit increased from approximately HKD 335.4 million to approximately HKD 379.3 million, a rise of about 13.1%[32]. - Total profit and comprehensive income rose by approximately 6.3% from HKD 61.8 million to HKD 65.7 million, driven by increased revenue and effective cost management[40]. Operational Strategies - Hypebeast is focusing on innovative content development and marketing strategies to adapt to changing consumer habits post-COVID-19, aiming to minimize the impact of the pandemic on its operations[6]. - The company is actively exploring emerging markets to drive growth and diversify revenue sources during the pandemic[7]. - The company aims to diversify its revenue sources by increasing engagement with non-traditional clients, particularly those less affected by COVID-19, to enhance contract growth[22]. - The company plans to strengthen its digital media production capabilities to improve the quality and quantity of internal editorial and sales content, expecting to generate more revenue through its integrated digital platform[18]. - The company intends to expand its online business into the offline world, leveraging its unique insights into street fashion and youth trends[18]. Digital Media and E-commerce Growth - The digital media segment produces and distributes content targeting young audiences across various platforms, including Hypebeast, Hypebae, and Popbee, as well as popular social media channels[12]. - The e-commerce segment, HBX, continued to grow despite challenges posed by COVID-19, with strong sales growth in the first half of the fiscal year[23]. - The company recorded a total of 16,800,000 unique visitors on its website platform and 24,700,000 followers on social media, representing year-on-year increases of approximately 21.2% and 14.7% respectively[19]. - The average contract value in the digital media segment increased by approximately 8.8% year-on-year, while the number of contracts decreased by 8.3% due to disruptions in service delivery caused by COVID-19[21]. Corporate Governance - The company emphasizes high standards of corporate governance, aligning with the corporate governance code as of March 31, 2020[77]. - The board of directors has confirmed compliance with the trading standards since April 1, 2019, with no non-compliance incidents reported[78]. - The board consists of five members, including one executive director and four independent non-executive directors, ensuring a balance of experience and independent judgment[80]. - The board has established three committees: Audit, Remuneration, and Nomination, each with clear written terms of reference[93]. - The company has adopted a board diversity policy to enhance diversity at the board level, considering factors such as gender, age, and professional experience[100]. Environmental, Social, and Governance (ESG) Initiatives - The group presented its Environmental, Social, and Governance (ESG) report for the fiscal year ending March 31, 2020, highlighting significant operational impacts[120]. - The group received the "Outstanding Environmental Partner" award at the Bank of China Hong Kong Corporate Environmental Awards 2019, recognizing its efforts in environmental protection[132]. - The materiality matrix indicates that climate change and customer health and safety are among the most important issues for both stakeholders and the business[144]. - The group aims to integrate sustainable practices into its operations, focusing on energy efficiency and waste reduction measures[132]. - The company encourages employees to adopt waste reduction practices, such as using recycled paper and reusable utensils[154]. Employee and Workforce Management - The total number of employees increased from 306 in 2019 to 401 in 2020, representing a growth of approximately 31%[189]. - The overall employee turnover rate decreased from 37% in 2019 to 33% in 2020[191]. - The company updated its employee medical insurance plan to increase outpatient claim amounts and expand coverage for health checks and dental services in response to COVID-19[200]. - The total employee cost for the year ending March 31, 2020, was approximately HKD 170,400,000, an increase from approximately HKD 118,500,000 for the previous year[60]. Risk Management - The board is responsible for assessing and determining the group's environmental, social, and governance risks, ensuring effective management and internal control systems are in place[134]. - The company recognizes various operational risks, including reliance on digital media content and e-commerce suppliers[62]. - The board has established a risk management and internal control system to assess and manage risks associated with achieving strategic goals[109].