Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 137,311,000, an increase of 7.1% from HKD 127,946,000 in the previous year[2] - The gross profit for the same period was HKD 110,484,000, reflecting a significant increase of 18.4% compared to HKD 93,280,000 in the prior year[2] - The company incurred an operating loss of HKD 29,286,000, which is a decline from the operating loss of HKD 24,980,000 in the previous year[2] - The net loss for the year was HKD 48,110,000, compared to a net loss of HKD 42,901,000 in the previous year, indicating a worsening of 12.9%[4] - The company's total assets less current liabilities amounted to HKD 493,206,000, down from HKD 558,524,000 in the previous year[5] - Cash and cash equivalents at the end of the fiscal year were HKD 23,558,000, an increase from HKD 13,775,000 in the previous year[5] - The company reported a basic loss per share of HKD 0.17, compared to HKD 0.15 in the previous year, indicating a slight increase in loss per share[4] - The company’s non-current assets decreased to HKD 517,662,000 from HKD 577,183,000 in the previous year, primarily due to a reduction in investment properties[5] - The group reported a segment profit of HKD 15,895,000, which is a significant increase from HKD 6,393,000 in the previous year[18] - The group incurred a net loss of HKD 48,100,000 for the fiscal year 2024, compared to a loss of HKD 42,857,000 in the previous year[21] - The average number of ordinary shares used to calculate basic loss per share remained constant at 287,930,000 shares for both years[21] Revenue Breakdown - The group's revenue from external customers in Hong Kong for the fiscal year ending March 31, 2024, was HKD 83,913,000, an increase of 18.4% from HKD 70,846,000 in the previous year[18] - The total revenue from external customers outside Hong Kong was HKD 53,398,000, a decrease of 6.0% from HKD 57,100,000 in the previous year[18] - The total segment revenue for the group was HKD 165,467,000, representing an increase of 4.9% compared to HKD 158,550,000 in the previous year[18] - Total other income decreased to HKD 6,142,000 in 2024 from HKD 12,445,000 in 2023, primarily due to a reduction in rental income and government subsidies[19] - The group's revenue in Hong Kong increased by 18% to HKD 83,913,000, attributed to the rebound in visitor numbers following the lifting of quarantine measures[31] - Revenue from the group's operations in mainland China slightly decreased to HKD 31,160,000 due to a cautious consumer outlook amid economic challenges[35] - The group's revenue from its Taiwan operations increased by 14% to approximately HKD 10,775,000, representing about 8% of the group's total revenue[41] - The Macau business experienced a revenue decline of 26% to HKD 11,463,000 due to the relocation of its store[40] Operational Insights - The group operates 32 retail stores and counters as of March 31, 2024, maintaining the same number as the previous year, while closing underperforming locations and opening in promising areas[30] - The group is actively developing its e-commerce business to enhance sales and marketing efforts, having launched two online platforms in previous fiscal years[34] - The group has begun supplying a distributor in Vancouver, Canada, starting November 2023, to expand revenue sources[31] - The group opened a new MOISELLE store in Central in May 2023 and a LANCASTER store in Mong Kok in December 2022, focusing on prime retail locations[33] - Rising costs, particularly in prime shopping areas, are pressuring the group's operations, prompting a review of its store network[31] - The group is targeting marketing efforts towards Hong Kong consumers in mainland cities to capture cross-border spending[33] - The group continues to face challenges from a weak RMB and a decline in purchasing power among mainland visitors to Hong Kong[31] - The group operated 12 MOISELLE retail stores in mainland China as of March 31, 2024, up from 11 stores a year earlier[38] Future Plans and Strategies - The group anticipates that the apparel retail market may take over two years to fully recover from the challenging operating environment experienced over the past three years[50] - The group plans to open new stores in prime locations in Hong Kong and mainland China to enhance its market presence[51] - The group aims to strengthen its e-commerce business to boost sales and improve customer relationships, including partnerships with local online shopping platforms[51] - The group will expand its fashion wholesale market in Canada, targeting a distributor in Vancouver[51] - The group will enhance employee training to align with product features and design concepts[51] - The group will closely monitor economic conditions and fashion trends to adjust its strategies accordingly[51] Audit and Compliance - The audit committee has reviewed the accounting principles and the consolidated financial statements for the year ending March 31, 2024[59] - The group's auditor confirmed that the preliminary announcement figures align with the audited financial statements[60]
慕诗国际(00130) - 2024 - 年度业绩