Financial Performance - The Group achieved moderate year-on-year growth in revenue, gross profit, and net profit during the financial year ended December 31, 2024[16]. - For the financial year ended December 31, 2024, the Group recorded a revenue of approximately HK$2,805,146,000, representing an increase of approximately 8.2% compared to the same period in 2023[27]. - The profit attributable to owners of the Company was approximately HK$247,522,000, reflecting an increase of approximately 5.3% compared to the previous year[27]. - The Group's gross profit for the year ended 31 December 2024 was approximately HK$1,027,997,000, with a gross profit margin of approximately 36.6%, an increase of approximately 0.7 percentage points from the previous year[86]. - The Group's operating profit for the year ended 31 December 2024 was approximately HK$315,190,000, compared to HK$213,644,000 for the previous year[1]. - The Group's total assets as of 31 December 2024 were approximately HK$1,067,981,000, while total liabilities were approximately HK$533,421,000[1]. - The total amount of inventories increased by 22.7% to approximately HK$339,513,000 as of December 31, 2024, compared to HK$276,691,000 in the previous year[100][102]. - The Group's profit attributable to owners was approximately HK$247,522,000 for the year ended December 31, 2024, reflecting a year-on-year growth of 5.3%[93]. Dividend and Shareholder Returns - The Board has recommended a dividend payment of HK10.0 cents per share for the year ended December 31, 2024[19]. - The Board proposed a dividend of HK$0.10 per share for the year ending December 31, 2024[1]. - The Company has recommended a final dividend of HK10.0 cents per share for the year ended 31 December 2024, compared to HK6.0 cents for the nine months ended 31 December 2023[166]. - The proposed final dividend is subject to approval at the forthcoming annual general meeting scheduled for 28 May 2025[167]. Operational Strategy - The management will focus on refining operational efficiency and strengthening cost control measures to enhance profitability[19]. - The Group continues to adopt a global procurement strategy to diversify product offerings and ensure product quality[16]. - The Group aims to maintain competitive pricing through a global procurement strategy while optimizing its product mix to meet customer demands[34]. - The Group's procurement network includes approximately 1,262 brands and around 3,653 SKUs from various global sources, primarily Europe, Japan, Korea, Vietnam, and Mainland China[43]. - The Group actively expanded its Business-to-Business (B2B) operations to diversify revenue streams[32]. - The management will closely monitor uncertain factors affecting business operations and adjust strategies accordingly to enhance market competitiveness[33]. Market Conditions - The Hong Kong retail market is expected to remain challenging, with the government implementing measures to attract tourists[17]. - The impact of external factors, such as rising global interest rates and geopolitical tensions, has affected economic recovery[16]. - Management remains cautiously optimistic about future business growth despite market uncertainties[17]. Community Engagement and Corporate Social Responsibility - The Group actively participates in community activities, including the Community Chest 55th Anniversary Walk for Millions, raising funds for social welfare organizations[64]. - Best Mart 360 hosted a Lunar New Year banquet for over 500 elderly residents, fostering community engagement[68]. - The Group distributed 400 goodie bags to elderly residents in Northern District stores, supporting those in need[70]. - The Group has received various social honors and recognitions for its charitable activities and commitment to quality service[72]. - The Group's commitment to corporate social responsibility is demonstrated through participation in the Caring Company Programme, promoting social development[75]. Retail Expansion - The total number of retail stores increased from 167 to 176 during the financial year, with one new store of the global gourmet brand "FoodVille" opened in Hong Kong[28]. - As of December 31, 2024, the Group operated a total of 176 retail stores, an increase of 9 stores from the previous year[50]. - The Group plans to achieve a net increase of 10 retail stores annually under its dual-brand model, focusing on "Best Mart 360º" and "FoodVille" in Hong Kong and Macau[111]. Employee and Management Structure - The total number of employees decreased to 1,230 as of December 31, 2024, from 1,322 in the previous year, with staff costs amounting to approximately HK$277,888,000, representing 9.9% of revenue[96][97]. - The Group's remuneration policy rewards employees based on performance, qualifications, and experience, with annual reviews conducted[150]. - The company continues to strengthen its leadership team with experienced professionals in key management positions[178][180][183][184]. Financial Management - The Group's liquidity and financial resources are deemed adequate to meet working capital requirements for the next twelve months[138]. - The Group's treasury management policies are conservative, avoiding highly leveraged or speculative derivative products[145]. - The effective interest rate on the Group's bank borrowings was 3.2% per annum for the year ended December 31, 2024[140]. Governance and Leadership - The Group's strategic planning includes expansion into new markets and potential acquisitions to drive growth[187]. - The appointments are part of the company's strategy to enhance governance and operational efficiency[178][180][183][184]. - Mr. Sze serves as chairman of the Remuneration Committee and a member of the Audit Committee[192]. Marketing and Customer Engagement - The Group's marketing activities, including the "Best Price" promotional campaign, successfully enhanced customer loyalty and attracted new customers[109]. - The Group launched a new three-tier membership scheme and a second-generation mobile app in mid-June 2020 to enhance customer loyalty and expand its customer base[104].
优品360(02360) - 2025 - 年度财报