Financial Performance - The Group's consolidated revenue for the year ended March 31, 2024, was HK$3,898,222,000, a decrease from HK$4,150,886,000 in 2023[16]. - Profit attributable to equity holders of the Company was HK$34,657,000, down from HK$40,732,000 in 2023[16]. - The Group's revenue for the year was HK$3,898,222,000, representing a decrease of 6.1% compared to HK$4,150,886,000 in 2023[78]. - Gross profit increased to HK$912,186,000, up 3.7% from HK$879,314,000 in the previous year, with a gross profit margin of 23.4% compared to 21.2% in 2023[76]. - EBITDA for the year was HK$161,383,000, an increase of 24.5% from HK$129,624,000 in 2023[78]. - The profit for the year was HK$33,296,000, down 23.2% from HK$43,358,000 in the previous year[142]. - The total assets as of March 31, 2024, amounted to HK$2,928,143,000, a decrease of 9.73% from HK$3,244,070,000 in 2023[142]. - Total liabilities decreased to HK$1,678,391,000 from HK$1,939,188,000, representing a reduction of 13.45%[142]. - The Group's net profit margin was 0.9%, a slight decrease from 1.0% in 2023[75]. - The increase in gross profit was attributed to improved operational efficiencies despite the decline in revenue[78]. Business Operations and Strategy - The Group actively expanded its business in the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing food business development across the region[12]. - The acquisition of Miyata Co., Ltd. in Japan has allowed the Group to introduce unique Japanese products to Hong Kong and other Greater Bay Area cities[12]. - The Group's competitive advantages were highlighted by the popularity of its products and services among consumers, consolidating its market position[17]. - The overall performance of the Group met expectations despite a weak consumer market in Hong Kong[17]. - The Group's proactive planning and strong capabilities helped navigate the challenging business environment during the year[11]. - The Group's business strategy focuses on "Rooted in Hong Kong, Expanding to Chinese Mainland, and Reaching Out to the World" to maintain its leading position in the food industry[54]. - The Group continues to drive business development through online and offline channels, leveraging major e-commerce platforms such as Taobao, Tmall, and JD.com to increase market share in Mainland China[62][65]. - Following the acquisition of Miyata, the Group successfully introduced foods produced in Mainland China into the Japanese market, enhancing business growth through better procurement networks[63][66]. - The Group aims to strengthen the interconnection of food products between Hong Kong, Mainland China, and Japan, which is expected to generate greater synergy and reduce operational costs[63][66]. Sales and Market Performance - Sales from the Hong Kong segment amounted to HK$1,851,052,000, accounting for 47% of the Group's total sales, indicating steady business performance[25]. - Sales in the Chinese Mainland decreased to HK$682,460,000 in 2024 from HK$750,532,000 in 2023, accounting for 18% of the Group's total turnover[26]. - Sales in Japan fell to HK$1,364,710,000 in 2024 from HK$1,569,018,000 in 2023, representing 35% of the Group's total turnover[27]. - Hong Kong's sales increased slightly to HK$1,851,052,000 in 2024 from HK$1,831,336,000 in 2023, making up 47% of the Group's total turnover[28]. - The Group's sales revenue for snacks decreased by 4% year-over-year, totaling HK$1,536,522,000 in 2024 compared to HK$1,601,991,000 in 2023[88]. - Revenue from confectionery items declined by 9%, amounting to HK$1,214,599,000 in 2024, down from HK$1,329,170,000 in 2023[88]. - Sales revenue for ham, sausage, and other grocery food items decreased by 3%, with 2024 revenue at HK$416,996,000 compared to HK$428,663,000 in 2023[88]. - Beverage and dairy products revenue fell by 25%, from HK$210,871,000 in 2023 to HK$158,304,000 in 2024[88]. Corporate Social Responsibility and Community Engagement - The Group emphasizes environmental responsibility and has integrated sustainable development into its business operations[50]. - The Group's commitment to corporate social responsibility includes sponsoring various organizations and promoting the spirit of "Enjoy Eating"[52]. - The Group's commitment to community service includes sponsoring food products for various organizations, promoting the spirit of "Eating Happily"[122]. - The Group is actively involved in community service and has members in various political and business associations, enhancing its corporate social responsibility profile[190]. Employee and Leadership - The total number of employees as of March 31, 2024, was approximately 2,800, with remuneration packages structured based on market terms and individual qualifications[99]. - The company has a strong leadership team with a mix of over 30 to 40 years of industry experience among its executive directors[189][194]. - The Group has been recognized with multiple awards, including the "Directors Of The Year Awards 2022" for Executive Directors of Listed Companies[190]. - The Group has received multiple accolades, including the "Outstanding Listed Company Award 2023" and recognition for "Quality Tourism Services" from the Hong Kong Tourism Board[49]. - The Group has received multiple awards, including the "Good MPF Employer" for nine consecutive years, recognizing its commitment to employee welfare[113]. Product Development and Quality - The Group's food quality meets international standards, receiving multiple certifications including "HACCP" and "ISO 22000"[35]. - The Group engages in product reformulation to meet evolving consumer expectations for food quality and variety, reflecting ongoing socioeconomic trends[123]. - The Group has established a stringent supplier selection process to mitigate supply chain risks, ensuring stable and quality food materials[124]. - The Group emphasizes customer satisfaction and trust, actively sourcing new products and maintaining high-quality food offerings for consumers in Hong Kong, Mainland China, and Japan[114]. Future Plans and Expansion - The Group plans to launch Four Seas Bama Natural Mineral Water, sourced from Bama county in Guangxi province, known for its mineral-rich underground water[56]. - The Group opened a new "Four Seas Okashi Land" flagship store in Shenzhen, covering approximately 6,000 square feet, which has become a popular choice for consumers since its opening in May 2024[62][65]. - A new "Miyata Store" was opened in YOHO MIX, Yuen Long in June 2024, enhancing the retail network and providing a fresh shopping experience[57]. - The Group plans to expand its retail network by opening a new "Miyata Store" in Yuen Long's YOHO MIX mall in June 2024, aiming to enhance the shopping experience for local residents[60]. - The new store openings and e-commerce strategies are part of the Group's broader plan to capture the growing market demand in the Greater Bay Area and beyond[62][65].
四洲集团(00374) - 2024 - 年度财报