Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,152,570, a decrease of 10.1% compared to HKD 1,281,753 in 2023[3] - Gross profit for the year was HKD 848,674, down from HKD 956,103, reflecting a gross margin decline[3] - The company reported a net loss attributable to shareholders of HKD 373,435, compared to a loss of HKD 72,168 in the previous year, indicating a significant increase in losses[4] - Basic loss per share for 2024 was HKD (88.40), compared to HKD (17.08) in 2023, reflecting a deterioration in financial performance[20] - The group reported a pre-tax operating loss of approximately HKD 122,924,000, compared to HKD 88,104,000 in 2023[26] - The group reported a loss attributable to shareholders of HKD 373,435,000 for the year, a significant increase from HKD 72,168,000 in the previous year, primarily due to non-recurring and non-cash items[43] Assets and Liabilities - The total assets decreased to HKD 1,949,513 from HKD 2,503,457, showing a reduction of approximately 22%[5] - Non-current assets totaled HKD 1,634,025, down from HKD 2,002,960, representing a decline of about 18.4%[5] - Cash and cash equivalents decreased to HKD 163,434 from HKD 283,610, a reduction of 42.4%[5] - The company’s equity attributable to shareholders decreased to HKD 1,722,552 from HKD 2,158,382, reflecting a decline of approximately 20.2%[5] - The group's accounts receivable decreased to HKD 38,015,000 in 2024 from HKD 45,204,000 in 2023, reflecting a reduction of 16.0%[21] - The group's accounts payable decreased to HKD 39,020,000 in 2024 from HKD 69,124,000 in 2023, a reduction of 43.6%[22] - The group's debt ratio increased to approximately 18.8% from 13.4% in the previous year[44] Revenue Breakdown - Retail revenue amounted to HKD 720,169,000, a decline of 17.7%, accounting for 62.5% of total revenue; however, online sales grew by 8.6% to HKD 400,423,000, increasing its share from 28.8% to 34.7%[34] - The flagship brand, Anlifang, generated revenue of HKD 713,673,000, up 0.6%, representing 61.9% of total revenue[35] - The group's revenue for the year was HKD 1,152,570,000, a decrease of 10.1% compared to the previous year, with sales from the mainland China market down approximately 8.2%[34] Expenses and Costs - The company experienced a significant increase in financing costs, which amounted to HKD 17,683, compared to HKD 19,959 in the previous year[3] - Total financing costs decreased from HKD 19,959,000 in 2023 to HKD 17,683,000 in 2024, a reduction of 11.4%[15] - Employee benefits expenses, excluding directors and CEO remuneration, totaled HKD 412,426,000 in 2024, down from HKD 455,603,000 in 2023, a decrease of 9.5%[16] - Selling and distribution expenses decreased by 7.7% to HKD 813,910,000, representing 70.6% of total revenue, while administrative expenses fell by 8.8% to HKD 159,813,000[37] Strategic Initiatives - The group emphasized a multi-brand strategy, adjusting marketing for seven brands to meet market demands[27] - The group launched a series of environmentally friendly products during the year, promoting a green and healthy brand image[28] - The group’s online sales strategy included synchronizing product information between online and offline stores to enhance operational efficiency[29] - The group launched several new product lines, including "Miss Embry 2024" and "Super Red Luck," to cater to diverse consumer demands and enhance e-commerce sales[30] - The group plans to enhance R&D for online exclusive products and deepen collaboration with low-carbon material suppliers to promote green products in 2025[52] - The group aims to optimize its offline store layout and expand online sales channels to adapt to changing consumer demands and reduce operational costs[53] Future Outlook - The group anticipates a cautious outlook for the lingerie industry in 2025, influenced by high costs, high debt, and increasing protectionism, with global economic growth projected at 2.6%[51] Audit and Reporting - The audit committee reviewed the consolidated performance for the year ending December 31, 2024[60] - The independent auditor, Ernst & Young, confirmed that the financial statements are consistent with the preliminary performance announcement[61] - The company will publish its 2024 annual report containing all information required by listing rules on its website and the Hong Kong Stock Exchange[62] Dividends - The company did not recommend any final dividend for the year ended December 31, 2024[19] - The group will not declare a final dividend for the year ending December 31, 2024[54]
安莉芳控股(01388) - 2024 - 年度业绩