Business Transformation and Strategy - Bonjour has transformed from a single-category beauty retailer to a digital ecosystem integrating "cross-border eCommerce + smart logistics + AI marketing" over five years[13]. - The company is focused on building an industrial ecology by customizing new business models and services[27]. - Bonjour plans to enhance HKMall's B2B capabilities, targeting completion of the SBBC ecosystem by late 2025, connecting suppliers, distributors, and end consumers[21]. - The company aims to deepen AI technology applications to optimize supply chains and enhance operational efficiency[14]. - Bonjour's strategic investments may impact short-term profits but are expected to lay the foundation for long-term growth[19]. - The company is expanding its platform to support local merchants in establishing e-shops, addressing the high costs of physical stores[110]. - The Group has terminated traditional physical retail operations to focus resources on enhancing the HKMALL eCommerce platform and developing a new B2B business model via O2O operations in Mainland China[182][184]. - The Group is restructuring its retail infrastructure by exiting traditional markets and reallocating resources to digital retail models, which is expected to enhance long-term profitability despite short-term turnover impacts[196]. Market and Product Development - The HKMall platform covers 13 major product categories, aiming to realize the vision of "Global Products for Global Consumers"[16]. - HKMALL has expanded its product range from pure cosmetics to include "Beauty, Health & Lifestyle" products, increasing the number of SKUs to over 370,000 and suppliers to 3,600 as of December 31, 2024, compared to 310,000 SKUs and 3,200 suppliers in 2023[183][185]. - The flagship platform HKMALL offers a diverse range of beauty, skincare, health, and lifestyle products, catering to various consumer needs through both outright ownership and consignment models[200]. - HKMALL features a dedicated e-commerce section for beauty and skincare, aggregating over 100 renowned international brands, enhancing the consumer experience with premium product offerings[198]. Logistics and Infrastructure - The company has fully operationalized the Huangpu Bonded Warehouse and successfully launched the Hainan Bonded Warehouse, expanding its logistics network[17]. - Significant investments have been made to establish bonded warehouse operations in Hainan and Guangzhou, enhancing cross-border sales capabilities[187][189]. - The Group is making significant investments in bonded operations in Mainland China, including the construction of bonded warehouses and cross-border vending machines, aimed at improving cross-border e-commerce capabilities and supply chain efficiency[196]. Financial Performance - For the twelve months ended December 31, 2024, the company recorded revenue of approximately HK$80.5 million, a decrease of approximately 91.5% compared to HK$950.2 million in 2023[165]. - The company reported a loss of approximately HK$134.4 million for the period, compared to a profit of approximately HK$54.0 million in 2023[166]. - The gross profit margin improved significantly to 40.75% in 2024 from 6.64% in 2023, despite the decline in turnover[165]. - The total number of retail stores in Hong Kong and Macau decreased from 6 to 3 during the period[165]. - The company has resolved not to declare any interim dividend for the period, consistent with the previous year[166]. Management and Leadership - Mr. Chen has over 20 years of experience in innovating digitalized management systems for traditional enterprises[26]. - Since 2020, Mr. Chen has been upgrading Bonjour Group into an industrial innovation platform of "technology + consumption"[27]. - The management team includes experienced professionals with diverse backgrounds in finance, law, and business management[30][32][37][39][43][46]. Corporate Social Responsibility and Community Engagement - Since the outbreak of the pandemic, the Group has supplied over 20 million face masks at affordable prices, gaining coverage from over 17 media outlets and being recognized as one of the listed companies fulfilling CSR in Hong Kong[53]. - The company actively participates in charitable and socially responsible activities, contributing to society and supporting SMEs during difficult times[153]. - The company donated 100,000 rapid test kits in collaboration with Futu Securities International to the Hong Kong Federation of Education Workers TechEd Centre[154]. - The company is involved in various charitable events, including the "Walk for Millions" organized by The Community Chest of Hong Kong[154]. Awards and Recognition - Bonjour was listed on the Main Board of The Stock Exchange of Hong Kong (Stock Code: 653), receiving 17 times oversubscription for its initial public offering, establishing its leading status in the beauty and cosmetics industry in Hong Kong[51]. - The Group was awarded the "Top 100 Biz Awards" by Metro Finance in 2024, highlighting its recognition in the business sector[92]. - The Group has been awarded the "IFAPC Outstanding Listed Companies Award" for four consecutive years, reflecting its consistent performance in the market[96]. - The Group has received multiple awards, including the "Outstanding Listed Companies Award 2024" from The Hong Kong Institute of Financial Analysts and "Top 100 Business Awards 2024" from Metro Finance[149]. Future Outlook - The company aims to drive growth through innovation, sustainable practices, and regional collaboration in the evolving market landscape[176]. - The Greater Bay Area presents a significant opportunity for cross-border e-commerce, with disposable income exceeding RMB 2.3 trillion[175]. - The Group remains optimistic about the growth potential of cross-border e-commerce and omnichannel retail, emphasizing a commitment to building a more resilient business model[195].
卓悦控股(00653) - 2024 - 中期财报