Financial Performance - In 2024, the company's revenue reached HKD 9,250 million, reflecting a steady growth trend compared to previous years[7]. - The company reported a loss attributable to shareholders of HKD 450 million in 2024, indicating a challenging financial environment[8]. - The group's total revenue for 2024 decreased by 6.9% to HKD 8,095.3 million compared to HKD 8,692.9 million in 2023[28]. - The adjusted EBITDA for the year was a loss of HKD 246.7 million, an increase in loss of HKD 88.9 million from the previous year's loss of HKD 157.8 million[30]. - The company recorded a loss attributable to shareholders of HKD 338.1 million, which is an increase of HKD 149.4 million compared to a loss of HKD 188.7 million in 2023[29]. - The gross profit margin decreased by 0.3% to 28.9% from 29.2% in 2023[28]. - Hong Kong's GDP for the past year was $286 billion, with retail sales value down 7.3% year-on-year in 2024[18]. - The group's Hong Kong business recorded a 9.5% decline, amounting to HKD 3,746 million, with a segment loss of HKD 288.2 million[20]. - In mainland China, the group's revenue for the year was HKD 4,349.3 million, a decrease of 4.5%, with a loss of HKD 65.9 million[22]. Strategic Initiatives - The company aims to increase the sales proportion of its private label products, TOPVALU, to enhance gross margins and attract consumers[13]. - The AEON App sales in Hong Kong experienced significant growth, highlighting the success of the company's digital transformation efforts[13]. - The company plans to expand its store network in Hong Kong and develop new store formats, including small specialty stores[14]. - The company will focus on accelerating digital transformation, enhancing e-commerce performance, and optimizing internal management to reduce operating costs[15]. - The group plans to open 8 new stores in the Greater Bay Area by 2025 to meet diverse consumer needs[26]. - The group aims to enhance its digital transformation, including the introduction of smart loss prevention systems and self-checkout systems in stores[25]. - The group will focus on promoting high-potential product categories to strengthen brand influence and market competitiveness[23]. Cost Management - The group successfully implemented cost control measures, reducing operational expenses through refined management[20]. - The group’s operating expenses saw a decrease in employee costs by 4.7%, while rental-related expenses increased by 1.3%[28]. - The company plans to optimize internal management and conduct a comprehensive review of existing systems to improve operational efficiency[24]. Sustainability and Environmental Impact - Aeon Group's direct carbon dioxide emissions from kitchen operations are projected to be 422 tons in 2024[46]. - Indirect carbon dioxide emissions from electricity consumption in stores are expected to total 115,713 tons in 2024[46]. - Aeon has recycled 2,561 tons of food waste for reuse in 2024[48]. - The total energy consumption for the group in the year was 151,150,100 kWh for electricity and 1,806,100 kWh for gas[51]. - The total water consumption for the group in the year was 1,054,000 cubic meters[52]. - Aeon collected 71 tons of used cooking oil for recycling into biodiesel products in 2024[50]. - The total packaging materials consumed by the group amounted to 149,600 kg, an increase attributed to early orders for Lunar New Year packaging[52]. - Aeon aims to reduce greenhouse gas emissions from all business activities to achieve a low-carbon society[49]. - The company promotes sustainable sourcing of fishery, aquatic, and agricultural products[57]. Employee Development and Welfare - The company emphasizes employee development through professional training and promotion opportunities to improve customer satisfaction[15]. - As of December 31, 2024, the group employed approximately 8,700 staff, with 6,500 being female[56]. - Total employee count is 8,700, with 3,000 aged 18-35, 4,300 aged 36-50, and 1,400 aged 50 and above[58]. - Employee turnover rate is 4.6%, with 5.1% for males and 4.5% for females; turnover is highest at 7.9% for ages 18-35[58]. - The average training hours per employee are 1.9 for males and 1.6 for females, with full-time administrative staff averaging 2.5 hours[65]. - No work-related fatalities occurred in the past three years, with approximately 1,986 workdays lost due to injuries in the reporting year[60]. - The company has established various training programs, including basic education for new employees and an internal certification system for specific roles[62]. - The employee retention mechanism includes biannual meetings with supervisors to discuss performance and career development[61]. Corporate Governance - AEON's management team includes experienced executives with extensive backgrounds in various operational roles within the company and its subsidiaries[77][78][79][80][81][82]. - AEON董事会由9名董事组成，其中独立非执行董事占三分之一，符合上市规则要求[93]. - The company adopted a nomination policy to ensure a balanced skill set, knowledge, experience, and diverse perspectives among board members[102]. - The company held its annual general meeting on May 27, 2024, with full attendance from all directors[103]. - The board has mechanisms in place to ensure independent viewpoints and opinions are obtained during decision-making processes[111]. - The company encourages directors to seek independent professional advice when necessary, with costs covered by the company[97]. - The company is committed to appointing at least three independent non-executive directors and ensuring that at least one-third of the board members are independent non-executive directors[113]. - The maximum service term for independent non-executive directors eligible for reappointment by the board is nine years[113]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming full compliance by all current directors throughout the year[131]. Related Party Transactions - The company has disclosed related party transactions in accordance with the listing rules, including ongoing transactions with its controlling shareholder, AEON Co., Ltd.[170]. - The total fees paid and payable to the auditor KPMG for the year include HKD 5,496,000 for audit services and HKD 1,596,000 for non-audit services, totaling HKD 7,092,000[141]. - The total amount paid and payable to AEON Group during the year reached RMB 39,677,258, not exceeding the announced cap of RMB 54,700,000[178]. - The company has compared service fees from AEON Group with those from independent third parties to ensure competitive pricing[175]. - The company has arranged appropriate liability insurance coverage for its directors and senior officers[169].
永旺(00984) - 2024 - 年度财报