Retail Performance and Market Challenges - In 2020, Hong Kong's retail sales declined for over 23 consecutive months, marking the worst year-on-year performance due to COVID-19[9]. - The retail sector faced significant challenges in 2020, with sales performance recording the sharpest decline in recent years due to the COVID-19 pandemic and economic downturn in Hong Kong[177]. - The number of tourist arrivals in Hong Kong in 2020 was only 3.57 million, representing a decrease of 93.6% compared to 2019[189]. - The value of total retail sales in Hong Kong for 2020 was estimated at HK$32,650 million, a decrease of 86.4% compared to 2019[190]. - The company's turnover for 2020 was HK$538,788 thousand, a decrease from HK$1,458,828 thousand in 2019, representing a decline of approximately 63.1%[147]. - Loss for the year was HK$258.4 million, compared to a loss of HK$130.6 million in 2019[193]. - Gross profit for 2020 was HK$173,095 thousand, down from HK$490,443 thousand in 2019, indicating a decrease of about 64.7%[147]. - The number of retail outlets in Hong Kong decreased to 22 in 2020 from 33 in 2019, a reduction of 33.3%[147]. E-commerce and Digital Strategy - Bonjour launched the "Bonjour Life O2O" retail store in 2020, integrating online and offline channels to enhance the shopping experience[4]. - The Group partnered with Alibaba Cloud to re-establish its customer and cloud databases, improving data processing efficiency and marketing strategies[5]. - Bonjour invested in a Singapore-based social commerce software start-up, EVO, to strengthen its online sales channels and expand into the ASEAN region[5]. - The Group plans to accelerate e-commerce and live streaming development, nurturing frontline salespersons for online live streaming[10]. - Bonjour's e-commerce initiatives, including the launch of the WeChat Mall, allowed customers to shop online conveniently during the pandemic[67]. - Bonjour has nurtured 200 frontline staff for live streaming sales across 9 different platforms, enhancing its digital sales strategy[14]. - The Group's online stores are present on various popular platforms, utilizing big data to better understand customer needs and preferences[178]. - Bonjour's e-shop received the "Quality E-Shop Recognition Logo," enhancing customer confidence in online shopping[27]. Product Diversification and Innovation - Bonjour aims to diversify its product portfolio by introducing daily necessities, health products, and small home appliances in addition to cosmetics[10]. - The Group offers over 40,000 products, including skincare, cosmetics, fragrance, health food, and lifestyle products, to meet diverse customer needs[16]. - Bonjour has over 40,000 quality and trendy products, continuously sourcing to meet changing customer preferences and ensuring alignment with market trends[179]. - New product lines include 24K Gold Pearl and Jellyfish Venom Essence, targeting premium skincare segments[116][101]. - The firm is focused on expanding its product offerings in the beauty and wellness sectors, with brands like Zymogen and Silky Tender[108]. - Recent product launches emphasize anti-aging and skin rejuvenation technologies, appealing to a growing consumer base[114]. Corporate Social Responsibility and Sustainability - The company is committed to sustainable development and aims to provide better products and experiences for customers while creating value for shareholders[11]. - Bonjour was awarded the "10 Years Plus Caring Company Logo" for its continuous contribution to corporate social responsibility[21]. - Bonjour sold over 20 million face masks at affordable prices during the pandemic, receiving coverage from over 17 media outlets and being recognized as one of the listed companies fulfilling corporate social responsibility in Hong Kong by Sparkle Hong Kong[61]. - The company actively participates in charity and environmental campaigns, contributing to various social causes[96]. - The company is committed to sustainability, engaging in eco-friendly practices and partnerships[97]. Strategic Expansion and Partnerships - The Group operates 27 retail stores in Hong Kong and Macau and sells through over 44 online shopping platforms, reaching 34 countries[14]. - Bonjour's future strategy includes helping local merchants enter the mainland market through its online store, Bonjour HKMall[10]. - The Group's expansion accelerated from opening 2-3 new branches annually to 5 new branches in a half-year period, leveraging low rental rates[37]. - Bonjour became the first authorized cooperative organization of Taobao University in Hong Kong, promoting e-commerce training through online and offline courses[56]. - The Group acquired a new office in Tsuen Wan for HK$490 million, with a total gross floor area of 223,804 sq. ft., to support long-term development[26]. Marketing and Sales Achievements - The Group's innovative marketing strategies led to record-breaking sales during the "Tmall Double 11 Global Carnival," with first-hour trading volume exceeding the entire previous year's sales[33]. - Bonjour achieved sales of HK$1 million in a single day during a promotional event at its Canton Road Branch in Tsim Sha Tsui[23]. - Bonjour was awarded the "Most Popular Brand" on Alipay's "Double Twelve Shopping Day," ranking among the top three highest turnover businesses alongside Lotte Duty Free Group and King Power Duty Free Mall[54]. - Bonjour's innovative marketing strategy led to breaking sales records during the "Tmall Double 11 Global Carnival," with the trading volume of the first hour exceeding the entire trading volume of the previous year[53]. Financial Performance and Metrics - The operating loss for 2020 was HK$217,302 thousand, worsening from a loss of HK$71,449 thousand in 2019[147]. - The loss for the year attributed to owners of the company was HK$255,734 thousand in 2020, compared to HK$129,648 thousand in 2019, marking an increase of approximately 97.4%[147]. - Total assets decreased to HK$1,027,546 thousand in 2020 from HK$1,539,638 thousand in 2019, a decline of about 33.2%[147]. - Total liabilities were HK$858,998 thousand in 2020, down from HK$1,104,212 thousand in 2019, representing a decrease of approximately 22.2%[147]. - The return on equity for 2020 was -148.54%, significantly lower than -29.72% in 2019, indicating a substantial decline in profitability[147]. - The company reported an inventory turnover on sales of 66 days in 2020, an increase from 47 days in 2019, indicating slower inventory movement[147].
卓悦控股(00653) - 2020 - 年度财报