Financial Performance - The Group's consolidated revenue for the year ended March 31, 2022, was HK$4,729,976,000, an increase of 3.3% from HK$4,579,837,000 in 2021[19]. - Profit attributable to equity holders for the year was HK$12,634,000, down 58.1% from HK$30,127,000 in 2021[19]. - The Group's total revenue for the year ended March 31, 2022, was HKD 4,729,976,000, an increase from HKD 4,579,837,000 in the previous year[21]. - Profit attributable to equity owners was HKD 12,634,000, down from HKD 30,127,000 in the previous year[21]. - Gross profit increased to HK$937,558,000, up 6.7% from HK$878,504,000, with a gross profit margin of 19.8%[83]. - EBITDA for the year was HK$157,496,000, an increase of 3.8% from HK$151,798,000 in the previous year[83]. - The Group's profit for the year ended March 31, 2022, is detailed in the financial statements, with a recommendation for a final dividend of HK6.5 cents per ordinary share[140]. Sales Performance by Region - Sales from the Hong Kong segment amounted to HK$1,843,958,000, accounting for 39% of total sales, up from HK$1,729,182,000 in 2021[19]. - Sales in Mainland China reached HK$929,929,000, representing 20% of total sales, an increase from HK$863,114,000 in 2021[19]. - Sales in Japan were HK$1,956,089,000, accounting for 41% of total sales, slightly down from HK$1,987,541,000 in 2021[19]. - Revenue from Hong Kong was HKD 1,843,958,000, accounting for 39% of total revenue, compared to HKD 1,729,182,000 in the previous year[21]. - Revenue from Mainland China was HKD 929,929,000, representing 20% of total revenue, up from HKD 863,114,000 in the previous year[21]. - Revenue from Japan was HKD 1,956,089,000, making up 41% of total revenue, slightly down from HKD 1,987,541,000 in the previous year[21]. Product Development and Innovation - The acquisition of Miyata Co., Ltd. contributed to the Group's ability to expand its product offerings and strengthen its brand[10]. - The Group introduced a variety of new products, including ice cream and Japanese food items, to enhance consumer experience in Hong Kong[11]. - The Group's food manufacturing business has seen increased demand due to more citizens choosing to eat at home during the pandemic[39]. - The Group is focusing on expanding its market share in Hong Kong by introducing more varieties of Japanese food, enhancing its retail and distribution leadership[58]. - The Group plans to leverage its competitive advantages in Mainland China, including a hybrid sales model that combines traditional retail with e-commerce platforms like Taobao and Tmall[60]. - The Group is committed to promoting healthy living by featuring products such as tofu, milk, and Japanese eggs in its offerings[59]. - The Group's strategy includes expanding its brand through self-owned factories and various marketing channels in Mainland China[60]. Community Engagement and Corporate Social Responsibility - The Group has engaged in community services, including a charity event to raise food for vulnerable families during the pandemic[50]. - The Group has received multiple awards for social responsibility, including the "Outstanding Social Caring Organisation Award" and "Manpower Developer 2013-2021" recognition[72]. - The Group is actively engaged in community services and supports various charitable activities, enhancing its brand image[128]. Awards and Recognition - The Group has received multiple quality certifications, including HACCP and ISO standards, ensuring high food safety and quality[37]. - The Group has received multiple awards this year, including the Grand Bauhinia Medal and the Gold Bauhinia Star, recognizing its contributions and leadership in the industry[70]. - The Group's brand "Okashi Land" was named the "Most Popular Hong Kong and Macau Brand," highlighting its strong market presence[72]. - The company was awarded the "Best All-round MPF Employer" for 7 consecutive years, showcasing its commitment to employee benefits and retirement planning[72]. Market Strategy and Future Outlook - The Group aims to maintain its leading position in the local market while exploring opportunities in Mainland China, Japan, and other regions[52]. - Three positive factors for future growth include reduced import costs due to a weak yen, high consumer demand for Japanese food, and a subdued pandemic environment[53]. - The Group anticipates continued growth driven by favorable market conditions and strategic expansion efforts[56]. - The company has set a revenue target of $500 million for the upcoming fiscal year, representing a 10% growth forecast[195]. - Investment in new technology for production is projected to increase output capacity by 30% over the next two years[195]. - The management team emphasized a commitment to sustainability, aiming to reduce carbon emissions by 20% by 2025[195]. Financial Position and Risk Management - As of March 31, 2022, the Group held cash and cash equivalents of HK$611,220,000 and had banking facilities of HK$2,837,689,000, with 37% utilized[102]. - The Group's gearing ratio was 78% as of March 31, 2022, indicating a significant level of debt relative to equity[102]. - The Group has ongoing transactional currency exposures mainly from sales and purchases in Japanese yen and Renminbi, which could impact operating results[102]. - The Group's financial risk management objectives and policies are outlined in note 41 of the financial statements[131]. Leadership and Management - Executive Director Hu Yongbiao has over 30 years of experience in the food and candy industry, responsible for establishing close ties with suppliers in mainland China and overseas[200]. - Executive Director Huang Fuheng has extensive experience in market development and strategy, having joined the group in 2014[200]. - The company emphasizes strong leadership with a diverse background in sales, marketing, and procurement among its executives[200].

Financial Performance - Revenue for the six months ended September 30, 2021, was HK$2,353,839,000, representing an increase of 7.7% compared to HK$2,185,079,000 for the same period in 2020[5]. - Gross profit for the period was HK$487,165,000, slightly down by 0.3% from HK$489,728,000 in the previous year[5]. - Profit for the period decreased to HK$23,435,000, a decline of 25.0% from HK$31,180,000 in the prior year[5]. - Earnings per share attributable to ordinary equity holders was HK4.0 cents, down from HK7.8 cents in the previous year, reflecting a decrease of 48.7%[5]. - Total comprehensive income for the period was HK$37,961,000, down 43.7% from HK$67,414,000 in the same period last year[8]. - Profit before tax for the six months ended 30 September 2021 was HK$36,018,000, a decrease of 16.5% compared to HK$42,883,000 in 2020[19]. - Net cash flows from operating activities amounted to HK$121,054,000, down from HK$141,702,000 in the previous year, reflecting a decline of 14.6%[19]. - Total cash generated from operations was HK$132,039,000, compared to HK$151,952,000 in 2020, indicating a decrease of 13.1%[19]. - Other income and gains for the six months ended September 30, 2021, totaled HK$19,166,000, compared to HK$15,807,000 in 2020, representing a 21.5% increase[63]. - Finance costs for the six months ended September 30, 2021, were HK$12,426,000, a decrease from HK$14,519,000 in 2020[66]. - Total tax charge for the period increased to HK$12,583,000 in 2021 from HK$11,703,000 in 2020, representing a growth of 7.5%[75]. - Profit attributable to ordinary equity holders decreased to HK$15,376,000 in 2021 from HK$30,016,000 in 2020, a decline of 48.7%[88]. Assets and Liabilities - Non-current assets totaled HK$1,482,194,000 as of September 30, 2021, a decrease from HK$1,544,803,000 as of March 31, 2021[10]. - Current assets increased to HK$2,109,213,000 from HK$2,016,036,000, indicating a growth of 4.6%[10]. - Total current liabilities increased to HK$1,795,282,000 as of September 30, 2021, compared to HK$1,708,413,000 on March 31, 2021, reflecting a rise of approximately 5.1%[12]. - Total non-current liabilities decreased to HK$405,958,000 as of September 30, 2021, down from HK$474,643,000 on March 31, 2021, indicating a reduction of about 14.5%[12]. - Net assets increased to HK$1,390,167,000 as of September 30, 2021, compared to HK$1,377,783,000 on March 31, 2021, marking a growth of approximately 0.9%[12]. - The total liabilities of the company stood at HK$2,201,240,000, with segment liabilities from Hong Kong, Mainland China, and Japan being HK$553,004,000, HK$355,559,000, and HK$392,805,000 respectively[49]. Cash Flow and Financing - Cash and cash equivalents amounted to HK$638,708,000, compared to HK$577,227,000, showing an increase of 10.6%[10]. - New bank and trust receipt loans totaled HK$579,904,000, while repayments amounted to HK$509,332,000, resulting in a net cash inflow from financing activities[20]. - Cash and cash equivalents at the end of the period were HK$638,708,000, down from HK$717,807,000 in the previous year, representing a decrease of 11%[20]. - The Group's banking facilities totaled HK$2,858,582,000, with 43% utilized as of September 30, 2021[166]. - The gearing ratio was 89% as of September 30, 2021, indicating the total bank borrowings to equity attributable to equity holders[166]. Segment Performance - Sales to external customers in Hong Kong amounted to HK$921,312,000, while Mainland China and Japan contributed HK$474,068,000 and HK$958,459,000 respectively, indicating strong performance across all regions[41]. - Segment results showed a profit before tax of HK$36,018,000, compared to HK$42,883,000 in the previous period, reflecting a decrease of approximately 16.5%[41]. - Total segment assets were reported at HK$3,071,110,000, with Hong Kong contributing HK$1,358,718,000, Mainland China HK$1,035,781,000, and Japan HK$676,611,000[49]. - Sales from the Hong Kong segment amounted to HK$921,312,000, accounting for 39% of total sales, slightly up from HK$919,113,000 in 2020[128]. - Sales in Mainland China reached HK$474,068,000, representing a 8.7% increase from HK$436,184,000 in 2020, accounting for 20% of total sales[128]. - Sales in Japan increased to HK$958,459,000, up from HK$829,782,000 in 2020, marking a growth of approximately 15.5%[128]. Operational Highlights - The Group's operating segments include Hong Kong, Mainland China, and Japan, focusing on the manufacturing and trading of snack foods, confectionery, and beverages[38]. - The Group's management monitors the results of the operating segments separately for resource allocation and performance assessment[38]. - The Group successfully consolidated Miyata Co., Ltd., enhancing product exports to Hong Kong and Mainland China, and expanded its product offerings to include Japanese eggs, rice, and tofu[133]. - The introduction of new products such as Japanese eggs, rice, and tofu was well received in the market, contributing to the Group's business growth and profitability[133]. - The Group aims to continue identifying renowned brands and introducing exceptional new products to consumers[138]. - The Group has achieved numerous international certifications including "HACCP", "ISO 9001", "ISO 22000", and "GMP", ensuring high standards in food safety and quality[142][144]. Shareholder Information - As of September 30, 2021, Tai Tak Fung, Stephen holds 259,478,000 ordinary shares, representing approximately 67.52% of the Company's total issued shares[190]. - Wu Mei Yung, Quinly also holds 259,478,000 ordinary shares, representing approximately 67.52% of the Company's total issued shares, through interests of spouse and controlled corporations[190]. - Careful Guide Limited, wholly owned by Tai Tak Fung, holds 70,000,000 shares, approximately 18.22% of the Company's total issued shares[190]. - Special Access Limited, wholly owned by Tai Tak Fung and Wu Mei Yung, holds 74,250,000 shares, approximately 19.32% of the Company's total issued shares[195]. - Capital Season Investments Limited, wholly owned by Advance Finance Investments Limited, holds 115,228,000 shares, approximately 29.98% of the Company's total issued shares[195]. - As of September 30, 2021, no other directors or chief executives had interests or short positions in the shares of the Company or any associated corporation[197].

團 有 限 公 司 %A 集 四 Four Seas Mercantile Holdings Limited Stock Code 股份代號 : 374 2021 年報 Annual Report 0 D D | --- | --- | |----------------------------------------------------------------|--------| | | | | | | | | | | | | | Contents 目錄 | | | Corporate Information 公司資料 | 2-3 | | Chairman's Statement 主席報告 | 4-13 | | Major Awards of the Year 年度主要獎項 | 14-16 | | Management Discussion and Analysis 管理層討論及分析 | 17-26 | | Report of the Directors 董事會報告 | 27-42 | | Corporate Governance Report 企業管治報告 | 43-65 | | Independen ...

四 洲 集 團 有 限 公 可 Four Seas Mercantile Holdings Limited Interim Report 中期報告 Stock Code 股份代號 374 The board of directors (the "Board") of Four Seas Mercantile Holdings Limited (the "Company") presents the unaudited condensed consolidated statement of financial position as at 30 September 2020 of the Company and its subsidiaries (the "Group") and the unaudited condensed consolidated statement of profit or loss, unaudited condensed consolidated statement of comprehensive income, unaudited condensed consolidated s ...

四 洲 集 團 有 限 公 司 Four Seas Mercantile Holdings Limited Annual Report 年報 Stock Code 股份代號 374 Contents 目錄 | --- | --- | |-------------------------------------------------------------------|--------| | | | | Corporate Information 公司資料 | 2-3 | | Chairman's Statement 主席報告 | 4-13 | | Major Awards of the Year 年度主要獎項 | 14-16 | | Management Discussion and Analysis 管理層討論及分析 | 17-22 | | Report of the Directors 董事會報告 | 23-36 | | Environmental, Social and Governance Report 環境、社會及管治報告 | 37-51 | | Corporate Governance Repo ...

| --- | --- | |-------|-----------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | 四 洲 集 團 有 限 公 司 Four Seas Mercantile Holdings Limited Interim Report 中期報告 2019-20 | | | Stock Code 股份代號 | | | 374 | The board of directors (the "Board") of Four Seas Mercantile Holdings Limited (the "Company") presents the unaudited condensed consolidated statement of financial position as at 30 September 2019 of the Company and its subsidiaries (the ...

Financial Performance - The Group's consolidated revenue for the year ended March 31, 2019, increased to HK$3,028,987,000, up from HK$3,002,437,000 in 2018, representing a growth of approximately 0.9%[20]. - Profit attributable to equity holders of the Company for the year was HK$30,161,000, a significant decrease from HK$347,703,000 in 2018, reflecting a decline of about 91.3%[20]. - Revenue for the year ended March 31, 2019, was HK$3,028,987,000, representing a 0.9% increase from HK$3,002,437,000 in 2018[82]. - Gross profit increased to HK$972,784,000, up 1.0% from HK$962,698,000 in the previous year, maintaining a gross profit margin of 32.1%[82]. - EBITDA for the year was HK$151,326,000, a significant decrease of 67.1% compared to HK$460,309,000 in 2018[82]. - The decline in profit for the year was attributed to the absence of a one-off gain from property disposal recorded in the previous year[20]. Sales and Market Segments - Sales from the Hong Kong segment amounted to HK$2,045,230,000, accounting for 67.5% of total sales, while sales from the Mainland China segment were HK$983,757,000, representing 32.5% of total sales[20]. - Sales revenue from snack items increased by 2.4% to HK$1,301,811,000, continuing to be the major revenue source for the Group[88]. - Confectionery sales revenue rose by 2.3% to HK$582,269,000, driven by a diverse range of products offered[89]. - Sales revenue from ham and sausage items increased by 1.2% to HK$369,125,000, reflecting strong consumer reception[90]. - Beverage and dairy products saw a decline in sales revenue by 15.6% to HK$223,010,000 due to weak market demand[91]. - Food materials/ingredients sales revenue grew by 5.7% to HK$235,048,000, with continued supply to major customers in the food industry[92]. Business Development and Strategy - The Group has been actively promoting Japanese ice-cream, which has been well received by consumers, contributing to maintaining competitiveness and market share[19]. - The Group's food distribution business has been developing steadily, sourcing unique and high-quality products from over 20 countries[29]. - The Group aims to bring pleasant surprises to food lovers in Hong Kong through its multifaceted businesses, including food distribution, manufacturing, and retailing[27]. - The Group is actively developing the Mainland China market while also introducing overseas cuisines to the region[49]. - The Group plans to promote Mainland snacks in overseas markets, recognizing the potential for growth and business opportunities[62]. - The Group's strategy focuses on sourcing global snacks to attract more consumers and enhance its leading market position[60]. Operational Highlights - The Group operates various specialty stores in Hong Kong, including "Okashi Land" for Japanese snacks and "YOKU MOKU" for cookies[28]. - The Group has expanded its factory premises in Tseung Kwan O Industrial Estate by an additional 10,000 square feet to enhance production capacity for products like "Jagabee" fries[36]. - The Group operates 18 processing plants in Hong Kong and Mainland China, producing a diverse range of food products to meet different customer needs[35]. - The Group's strong distribution network covers department stores, supermarkets, convenience stores, and restaurants, enhancing its market presence[28]. - The Group has established a "Japan Ice-cream House" in Tsim Sha Tsui, promoting various renowned Japanese ice-cream brands, which is expected to generate new revenue[34]. Awards and Recognition - The Group has received multiple international accreditations, including "HACCP", "ISO 9001", and "ISO 22000", ensuring high standards in food safety and quality[35]. - The Group has been recognized with multiple awards, including "Meritorious Family-friendly Employers - Special Mention (Gold)" and "Kid's Favourite Brands Award" from Wellcome Supermarket[54]. - The company received multiple awards this year, including the Grand Bauhinia Medal and the Gold Bauhinia Star from the Hong Kong SAR Government[70]. - The company was recognized as a "Caring Company" for over 15 years by the Hong Kong Council of Social Service[73]. - The company was awarded the "Most Influential Listed Company Leader" at the China Securities Golden Bauhinia Awards[70]. Corporate Governance and Compliance - The Group emphasizes customer satisfaction and aims to source new products and produce quality food products for consumers in Hong Kong and Mainland China[124]. - Compliance procedures are in place to ensure adherence to relevant laws and regulations impacting the Group's business operations[113]. - The Group recognizes human resources as important capital and focuses on staff retention and development through performance-based incentives and training programs[115]. - The directors' remuneration is determined based on their duties, responsibilities, performance, and the group's results[155]. - The company has arranged appropriate directors' and officers' liability insurance coverage for its directors and officers[156]. Financial Position and Risk Management - As of March 31, 2019, the Group held cash and cash equivalents of HK$590,979,000 and had banking facilities of HK$2,414,176,000, with 29% utilized[97]. - The Group's gearing ratio was 49% as of March 31, 2019, indicating the proportion of bank borrowings to equity attributable to equity holders[97]. - The Group had capital commitments of HK$2,218,000 for property, plant, and equipment as of March 31, 2019[99]. - The Group does not maintain a foreign currency hedging policy, exposing it to transactional currency risks primarily from sales and purchases in Japanese yen and Renminbi[101]. - The financial risk management objectives and policies are detailed in note 38 of the financial statements, indicating a structured approach to managing financial risks[139].