Financial Performance - The group's total revenue increased by 2.6% to HKD 3,500.5 million for the fiscal year ending March 31, 2023[2]. - The group turned a loss of HKD 133.2 million in the first half of the fiscal year into a profit of HKD 58.2 million for the full year, compared to a loss of HKD 343.7 million in the previous year[2]. - The group recorded a profit of HKD 185.9 million in Q4 2023, with a pre-tax profit margin of 9.0%[2]. - Basic earnings per share were HKD 1.9, compared to a loss of HKD 11.1 per share in 2022[2]. - The group reported a gross profit of HKD 1,401.4 million, compared to HKD 1,260.5 million in the previous year[3]. - The group’s operating profit was HKD 1.5 million, a significant recovery from an operating loss of HKD 328.1 million in the previous year[3]. - The net profit attributable to the company's owners for 2023 was HKD 58,247, a significant recovery from a loss of HKD 343,732 in 2022[19]. - The total revenue for the year ended March 31, 2023, was HKD 3,567,112, down from HKD 3,725,318 in 2022, indicating a decline of approximately 4.3%[15]. Sales Performance - Offline sales in Hong Kong and Macau grew by 7.3% to HKD 2,373.3 million, with a year-on-year increase of 60.1% in Q4 2023[2]. - Total online and offline sales in the Hong Kong and Macau regions reached HKD 2,603.8 million, accounting for 74.4% of the group's total revenue, with an 8.7% increase year-on-year[35]. - Offline sales in the Hong Kong and Macau regions increased by 7.3% to HKD 2,373.3 million, with same-store sales rising by 13.5%[38]. - In Q4, offline sales in the Hong Kong region grew by 55.6% year-on-year, benefiting from the return of mainland Chinese tourists[43]. - The group reported a segment performance loss of HKD 21,201,000 in online business and HKD 44,459,000 in mainland China[10]. - Online business revenue was HKD 602.0 million, a decrease of 13.5% year-on-year, with mainland China experiencing a 33.4% decline due to pandemic impacts[27]. - Total offline sales in mainland China for the fiscal year were HKD 225.2 million, a decline of 22.9% year-on-year, while same-store sales fell by 11.6%[53]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 1,409.5 million, up from HKD 1,232.1 million in the previous year[5]. - Net assets increased to HKD 1,041.2 million from HKD 982.9 million in the previous year[5]. - The total assets of the group as of March 31, 2023, were HKD 2,213,327,000, an increase from HKD 2,086,823,000 in the previous year[12]. - The group’s bank borrowing rates ranged from 4.04% to 4.65% as of March 31, 2023, compared to 1.29% to 1.64% in the previous year[24]. - The group has a low leverage ratio of 2.9% as of March 31, 2023, compared to 10.4% a year earlier, indicating a strong balance sheet[77]. - The group has no significant contingent liabilities as of March 31, 2023, ensuring financial stability[80]. Cost Management and Expenditures - The group implemented a zero-based budgeting mechanism and centralized cost management to enhance operational efficiency and optimize costs[28]. - Employee benefits expenses, including director remuneration, increased to HKD 661,943 in 2023 from HKD 651,816 in 2022, representing a rise of about 1.7%[15]. - Capital expenditures totaled HKD 58,587,000, with the highest spending in Hong Kong and Macau (HKD 44,195,000)[10]. - The group recognized government subsidies of HKD 25,817,000, significantly up from HKD 4,953,000 in the previous year[13]. Market Strategy and Future Outlook - The group anticipates continued focus on market expansion and new product development to enhance future performance[9]. - The group aims to optimize its product mix by introducing new categories such as beauty supplements, personal care products, and beauty devices to meet growing customer demand[25]. - The group is focusing on enhancing its online business by increasing customer loyalty, building online communities, and promoting exclusive brands available only locally[66]. - The group aims to integrate online and offline operations (OMO) to provide a seamless shopping experience, including promoting in-store online channel awareness[67]. - The group is actively promoting brand establishment through pop-up sales events in Malaysia, enhancing brand visibility and driving direct sales[61]. Challenges and Adjustments - The group did not recommend a final dividend due to the recent challenges in the operating environment[2]. - The group achieved a total operating loss of HKD 58,247,000, reflecting challenges in various segments[10]. - The company reduced its losses in mainland China by 69.2% to HKD 44.5 million for the fiscal year, with losses narrowing from HKD 43.6 million in the first half to HKD 0.9 million in the second half[53]. - The group is implementing zero-based budgeting and stricter working capital management to enhance competitiveness and resilience[64]. - Malaysia's economic challenges include a 25% increase in minimum wage and rising living costs, prompting the group to adapt its product offerings and promotions[70].
莎莎国际(00178) - 2023 - 年度业绩