Financial Performance - Total merchandise transaction value for the fiscal year 23/24 reached approximately HKD 926.3 million, a decrease of about 0.3% compared to HKD 929.2 million in the fiscal year 22/23[6]. - Revenue for the fiscal year 23/24 was HKD 841.1 million, down approximately 1.6% from HKD 855.1 million in the fiscal year 22/23[6]. - The overall gross profit margin for the fiscal year 23/24 was approximately 14.5%, compared to 15.3% in the fiscal year 22/23[6]. - Adjusted net profit for the fiscal year 23/24 was approximately HKD 23.4 million, slightly up from HKD 23.0 million in the fiscal year 22/23[6]. - Net profit for the fiscal year 23/24 was approximately HKD 22.3 million, significantly higher than HKD 6.3 million in the fiscal year 22/23, mainly due to reduced listing expenses and strict cost management measures[6]. - The gross profit for the same period was HKD 121.8 million, compared to HKD 131.2 million in 2023, indicating a decrease of about 7.1%[66]. - Revenue decreased from approximately HKD 855.1 million in FY 22/23 to approximately HKD 841.1 million in FY 23/24, a decline of about 1.6%[104]. - Net profit for FY 23/24 was approximately HKD 22.3 million, compared to HKD 6.3 million in FY 22/23, with net profit margin rising from 0.7% to 2.7%[113]. Membership and Customer Engagement - As of March 31, 2024, the number of registered members increased to approximately 1,108,000, up from 961,000 as of March 31, 2023[6]. - The registered member count exceeded 1.1 million, with an industry-leading average transaction value of approximately HKD 1,948[26]. - The company’s loyalty program allows customers to earn reward points for future discounts, with the revenue from these points recognized upon redemption or expiration[86]. Strategic Initiatives - The company adopted a more cautious operational strategy, focusing resources on core development projects and actively managing costs amid a challenging economic environment[14]. - The company expanded its 3P business model to include a wider range of product categories, enhancing its online and offline retail integration[12]. - The company plans to explore acquisition opportunities to accelerate growth in the near future[15]. - The company is preparing to expand its business into Southeast Asia, leveraging accumulated experience and resources[19]. - The company aims to deepen supply chain relationships and expand into underdeveloped categories to increase market share[17]. - The company is closely monitoring market trends and consumer behavior to align its strategies accordingly, particularly regarding the establishment of new physical stores[53]. Capital Management and Investments - The company repurchased approximately 2.2 million shares during the fiscal year to protect shareholder interests[23]. - The group plans to invest approximately HKD 78,000 in capital expenditures for the fiscal year 2023/24, compared to approximately HKD 8.0 million in the previous fiscal year[59]. - The company has no significant capital commitments or contingent liabilities as of March 31, 2024[126]. - The company incurred listing expenses of HKD 12,483,000 in the fiscal year 22/23, which are no longer applicable post-listing[121]. Market Performance and Trends - The company anticipates a challenging retail environment but expects some recovery in the second half of 2024 due to easing operational pressures and government initiatives[51]. - The 1P business model remains the main contributor to the group's performance in the short to medium term, with a focus on expanding customer base and enhancing customer loyalty despite a challenging retail environment in Hong Kong[52]. - The company is exploring market expansion opportunities outside of Hong Kong, with revenue from mainland China dropping to HKD 7,290,000 from HKD 28,225,000[81]. Governance and Compliance - The board consists of seven directors, including three independent non-executive directors, ensuring a balance of power and decision-making within the company[133]. - The audit committee reviewed the audited financial performance for the year ending March 31, 2024, in discussions with senior management and auditors[137]. - The company has adopted its own securities trading policy for directors, which complies with the standards set out in the listing rules[136]. - The company will hold its annual general meeting on August 30, 2024, where the annual report for the year ending March 31, 2024, will be published[140].
友和集团(02347) - 2024 - 年度业绩