Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 4,521,844, a decrease of 10.4% compared to HKD 5,048,699 in the same period of 2022[4] - The company reported a loss before tax of HKD 75,520, improving from a loss of HKD 152,463 in the previous year, representing a 50.5% reduction in losses[4] - Basic and diluted loss per share for the period was HKD 30.07, compared to HKD 55.62 in the same period last year, indicating a 46.1% improvement[4] - Total comprehensive loss for the period was HKD 75,651, a decrease from HKD 147,203 in the previous year, reflecting a 48.6% reduction[6] - The company reported a significant increase in investment income to HKD 11,537, up from HKD 9,236, marking a growth of 25.0%[4] - The company reported a loss of HKD 78,194,000 for the period ending June 30, 2023, compared to a loss of HKD 75,248,000 for the same period in 2022, indicating a year-over-year increase in losses of approximately 2.5%[14] - Total comprehensive income for the period was a loss of HKD 78,016,000, compared to a loss of HKD 60,817,000 in the previous year, reflecting a decline of about 28.2%[14] - Operating cash flow before changes in working capital was HKD 464,694,000, down from HKD 503,173,000 in the prior year, representing a decrease of approximately 7.5%[17] Assets and Liabilities - Non-current assets decreased to HKD 3,061,109 as of June 30, 2023, down from HKD 3,502,113 at the end of 2022, a decline of 12.6%[8] - Current liabilities decreased to HKD 3,081,906 from HKD 3,151,152, showing a reduction of 2.2%[10] - The company’s cash and cash equivalents decreased to HKD 952,160 from HKD 1,133,879, a decline of 16.0%[8] - The company’s total equity attributable to owners was HKD (83,478) as of June 30, 2023, compared to HKD (274) at the end of 2022[10] - The company’s current liabilities exceeded current assets by HKD 662,516,000 as of June 30, 2023, raising concerns about liquidity[20] - The company’s directors have reviewed cash flow forecasts and expect sufficient resources to continue operations for the next 12 months[20] Revenue Breakdown - Direct sales in Hong Kong were HKD 1,952,438,000, down from HKD 2,193,787,000, representing a decline of 11%[28] - Direct sales in China were HKD 2,301,364,000, down from HKD 2,578,917,000, reflecting a decrease of 10.7%[28] - The group’s revenue for the first half of 2023 decreased by 10.4% to HKD 4,521.8 million compared to HKD 5,048.7 million in 2022[76] Expenses and Costs - Total other expenses decreased to HKD 530,320,000 in 2023 from HKD 562,002,000 in 2022, representing a reduction of approximately 5.6%[34] - The cost of goods sold for the period was HKD 3,217,693,000, down from HKD 3,618,488,000 in the previous year, indicating a decrease of approximately 11.1%[37] - Employee costs decreased by 10.7%, representing 10.9% of revenue, down from 11.0% in 2022[76] Dividends and Shareholder Returns - The company paid dividends amounting to HKD 5,200,000 during the period, consistent with the previous year’s dividend payments[14] - The interim dividend declared for the six months ended June 30, 2023, is HKD 0.02 per share, down from HKD 0.03 per share in 2022[77] Strategic Initiatives - The group plans to enhance online supermarket activities and introduce delivery services in the AEON App in the second half of 2023 to boost online sales and customer loyalty[72] - The group will accelerate product reform and expand differentiation to meet post-pandemic shopping needs, while increasing the proportion of private label products[74] - The group will continue to optimize its operational network, having closed underperforming stores to reduce financial burdens[70] - The group aims to enhance digital transformation to improve operational efficiency and reduce labor costs[71] - The group opened a new supermarket in Guangzhou in August 2023 and plans to open another in Zhuhai in September 2023[74] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules Appendix 14 for the six months ending June 30, 2023[90] - The audit committee, along with management, reviewed the unaudited interim results for the six months ending June 30, 2023[91] - Director compensation is determined based on company performance, profitability, industry salary levels, and current market conditions, with specific amounts listed for each director[93]
永旺(00984) - 2023 - 中期财报