Financial Performance - The group's consolidated revenue for the fiscal year 2023 was approximately HKD 146,100,000, a decrease of about HKD 400,000 or 0.3% compared to the fiscal year 2022[23] - The net loss for the fiscal year 2023 was approximately HKD 51,600,000, a reduction of about HKD 12,400,000 or 19.3% compared to the previous year[23] - The gross profit margin improved from 55.9% to 57.4%, resulting in an increase in gross profit of approximately HKD 2,000,000[23] - The overall segment loss for fiscal year 2023 was approximately HKD 25,900,000, an improvement from HKD 36,900,000 in fiscal year 2022[29] - For the fiscal year 2023, the company's loss attributable to equity holders was approximately HKD 50.5 million, a decrease of about HKD 10.3 million or 16.9% compared to HKD 60.8 million in the fiscal year 2022[49] - The group's revenue for the fiscal year 2023 was approximately HKD 146,100,000, a decrease of about HKD 400,000 or 0.3% compared to HKD 146,500,000 in fiscal year 2022[84] - Revenue primarily came from the department store business, amounting to approximately HKD 146,000,000, which accounted for about 99.9% of the total revenue[84] - Dividend income for fiscal year 2023 was approximately HKD 500,000, down from about HKD 900,000 in fiscal year 2022[90] Expenses and Liabilities - General and administrative expenses were approximately HKD 48,200,000 in fiscal year 2023, down from HKD 54,000,000 in fiscal year 2022, mainly due to a reduction in consultancy fees[26] - The group's interest expenses for fiscal year 2023 were approximately HKD 26,900,000, compared to HKD 27,800,000 in fiscal year 2022[27] - As of December 31, 2023, the group's net current liabilities were approximately HKD 79,731,000, a significant decrease from HKD 240,297,000 as of December 31, 2022[92] - The group's debt ratio was approximately 304% as of December 31, 2023, compared to 255% a year earlier[31] Cash and Bank Balances - As of December 31, 2023, the group's cash and bank balances were approximately HKD 104,000,000, down from HKD 182,500,000 a year earlier[31] - The group's cash and bank balances as of December 31, 2023, were approximately HKD 92,694,000, compared to HKD 98,188,000 in the previous year[92] Business Strategy and Operations - The group plans to continue monitoring and adjusting its department store business strategies to address challenges in the retail environment[30] - The group maintained its revenue at approximately HKD 146,000,000 despite the closure of one store at the end of 2022, with improvements in revenue from other stores offsetting the loss[89] - The group experienced an increase in online shopping behavior among retail customers, which limited the recovery effect on department store performance[89] Employee and Governance - The company had a total of 178 employees as of December 31, 2023, an increase from 161 employees as of December 31, 2022[54] - The company has complied with the corporate governance code, except for deviation from code provision C.1.6 regarding attendance at the shareholders' meeting[59] - The board of directors consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[63] - The company has adopted a board diversity policy to enhance performance quality and will review its implementation annually[110] Risk Management and Compliance - The company has not implemented a foreign exchange hedging policy but will monitor foreign exchange risks closely and consider hedging if significant risks arise[53] - The company will continue to engage external independent professionals to audit its internal control and risk management systems annually[149] - The group has maintained compliance with significant legal and regulatory requirements throughout the fiscal year 2023[156] Customer Relations and Service Quality - The company has established a customer complaint handling mechanism to enhance service quality and communication with customers[158] Environmental, Social, and Governance (ESG) - The report period for the environmental, social, and governance report spans from January 1, 2023, to December 31, 2023[181] - The company has adhered to the Hong Kong Stock Exchange's environmental, social, and governance reporting guidelines for year-on-year performance comparison[187] - The company has implemented measures to control emissions to address air pollution, a major urban issue[192] Shareholder Rights - The company is committed to enhancing shareholder rights and ensuring that resolutions are voted on at the annual general meeting[151] - The company has proposed resolutions at the upcoming annual general meeting to reappoint its auditors[142]
先施(00244) - 2023 - 年度财报