Revenue and Profitability - The group's revenue decreased from approximately HKD 171,400,000 for the year ended March 31, 2023, to approximately HKD 148,800,000 for the year ending March 31, 2024, representing a decline of about HKD 22,600,000 or approximately 13.2%[1] - The group's net profit decreased from approximately HKD 20,700,000 for the year ended March 31, 2023, to approximately HKD 14,900,000 for the year ended March 31, 2024, representing a decline of about HKD 5,800,000 or approximately 28.1%[34] - The group's net profit margin decreased from approximately 12.1% for the year ended March 31, 2023, to approximately 10.0% for the year ended March 31, 2024[34] - The company's profit attributable to shareholders was HKD 14.92 million for the year ended March 31, 2024, down from HKD 20.74 million in 2023[114] - The group's gross profit for the year ended March 31, 2024, was approximately HKD 93.3 million, a decrease of about 15.4% compared to HKD 110.3 million in 2023[84] - The group's gross profit decreased from approximately HKD 110,300,000 to about HKD 93,300,000, a decline of approximately 15.4%[121] Dividends - The board declared an interim dividend of HKD 0.8 per share, totaling approximately HKD 9,000,000 for the six months ended September 30, 2023, compared to HKD 1.3 per share and a total of approximately HKD 14,600,000 for the previous year[2] - The board proposed a final dividend of HKD 0.8 per share for the year ending March 31, 2024, totaling approximately HKD 9,000,000, unchanged from the previous year[62] - The company plans to distribute a final dividend of HKD 0.8 per share, consistent with the previous year's dividend[123] Financial Position - The total assets less current liabilities amounted to HKD 144,519,000, down from HKD 150,242,000 in the previous year[5] - The group's net asset value was HKD 141,865,000, a decrease from HKD 144,917,000 in the previous year[5] - As of March 31, 2024, the group had no bank borrowings or other borrowings, making the capital debt ratio not applicable[46] - The total non-current assets as of March 31, 2024, were HKD 75,335,000, down from HKD 78,904,000 in the previous year[138] - The company's cash and bank balances as of March 31, 2024, were HKD 45,800,000, down from HKD 70,700,000 in 2023[164] Revenue Sources - Revenue from retail stores for the year ended March 31, 2024, was HKD 115,596,000, a decrease from HKD 132,800,000 in the previous year, representing a decline of approximately 12.9%[132] - Revenue from online stores was HKD 26,482,000, down from HKD 29,806,000, a decrease of about 10.4%[132] - Revenue from product sales accounted for approximately 98.9% of total revenue, while income from beauty services and consignment sales represented about 0.9% and 0.2%, respectively[159] Expenses and Costs - Employee costs, including director remuneration, were approximately HKD 39,200,000 for the year ending March 31, 2024, down from HKD 41,700,000 in the previous year[65] - Sales cost decreased by approximately HKD 5,500,000 to HKD 55,600,000, a reduction of about 9.1% compared to the previous year[149] - Administrative and operating expenses reduced by approximately HKD 2,800,000 to HKD 40,300,000, a decrease of about 6.5%[151] - Sales and distribution expenses decreased by approximately HKD 1,100,000 to HKD 37,800,000, a reduction of about 2.9%[161] Taxation - The income tax expenses for the years ended March 31, 2023, and March 31, 2024, were approximately HKD 4,300,000 and HKD 2,900,000, respectively, with effective tax rates of approximately 17.2% and 16.3%[45] - The company reported a total tax expense of HKD 2,903,000 for the year ended March 31, 2024[140] Employee and Operations - The group employed 73 full-time employees and 15 part-time employees as of March 31, 2024, compared to 85 full-time and 13 part-time employees in the previous year[65] - The company emphasized its brand image and quality products as key factors for customer loyalty and confidence, which are expected to strengthen its market position[119] - The group operates nine retail stores under the "MIMINGMART" brand, selling a variety of beauty and health products[28] - The group provides beauty services to its customers in addition to selling products through its online store and other e-commerce platforms[40] Investments - The group made an investment of approximately USD 2,200,000 (about HKD 16,900,000) in U.S. Treasury bonds, with a fair value of approximately HKD 17,300,000, representing 10.4% of total assets[75] - The company recorded interest income related to U.S. Treasury bonds of approximately USD 400,000 and a fair value loss of about HKD 52,000[75] - The company has not made any significant investments or capital asset plans as of March 31, 2024[66] - The company has no major capital commitments as of March 31, 2024[78] Other Financial Metrics - The operating profit for the year ended March 31, 2024, was HKD 17,823,000, compared to HKD 25,050,000 in the previous year[125] - The current ratio improved to 3.8 from 3.5 in the previous year, indicating a stronger liquidity position[153] - Financing costs remained stable at approximately HKD 600,000 compared to the previous year[162] - The company aims to enhance competitiveness by expanding its product portfolio and e-commerce business while maintaining its leading position in the Hong Kong skincare and cosmetics market[158]
弥明生活百货(08473) - 2024 - 年度业绩