Financial Performance - The Group's turnover for the year ended December 31, 2024, was HK$480.0 million, a decrease of 2.3% compared to HK$491.1 million in 2023[5]. - Gross operating profit decreased by 13.9% to HK$109.4 million from HK$127.1 million in the previous year[5]. - EBITDA fell by 28.0% to HK$90.3 million, down from HK$125.5 million in 2023[5]. - Profit attributable to owners of the Company was HK$6.0 million, representing a significant decline of 87.7% from HK$48.6 million in 2023[5][16]. - The Group's food and catering business recorded a loss of HK$3.6 million, while the food souvenir business generated a profit of HK$15.9 million[17]. - Total assets decreased by 4.4% to HK$958.6 million from HK$1,003.7 million in 2023[7]. - Net assets per share decreased by 1.7% to HK$0.504 from HK$0.513 in the previous year[7]. - The gearing ratio improved slightly to 164.6% from 170.0% in 2023, indicating a reduction in financial leverage[7]. - The Group's profit from property investment was HK$1.1 million, contributing to the overall profit[17]. - The Group anticipates continued challenges due to global economic uncertainties and weak consumer sentiment affecting future performance[16]. Business Operations - The Group recorded a turnover decrease of approximately 2.3% compared to 2023, with a profit attributable to owners of the Company of about HK$6.0 million, down from HK$48.6 million in 2023[19]. - The gross operating profit ratio decreased to 22.8% from 25.9% in 2023, with an EBITDA of approximately HK$90.3 million compared to HK$125.5 million in 2023[26]. - The Group's industrial catering business turnover declined by 6.1% to HK$15.3 million, while the food wholesale business saw a 23.7% decrease to HK$9.0 million[29]. - Visitor arrivals to Macau increased by 23.8% to 34,928,650, reaching 89% of pre-pandemic levels, but the Group's food and catering business underperformed relative to this increase[27]. - The food souvenir business achieved a turnover increase to HK$120.0 million from HK$103.6 million in 2023, with a gross margin of HK$81.7 million[32]. - The Group opened 3 food court counters in Macau International Airport and 3 in Hong Kong, while closing 1 Chinese restaurant in Macau and 6 food court counters in Hong Kong[28]. Environmental, Social, and Governance (ESG) Initiatives - The group is committed to advancing its environmental, social, and governance (ESG) goals, including reducing carbon footprint and contributing to the community[39]. - The group has established an ESG working taskforce to oversee ESG issues and ensure compliance with relevant regulations[41]. - The ESG report covers the group's business activities in Macau and Hong Kong, with key performance indicators (KPIs) established for benchmarking[47]. - The group has a structured management system for environmental protection and social responsibilities, including a dedicated Food Safety Department[46]. - The management team is focused on talent development and fostering a culture of collaboration, innovation, and accountability[39]. - A materiality assessment was conducted to identify key issues affecting the Group's business and stakeholders, with results reviewed and confirmed by the Board[53]. - The Group's materiality matrix highlights customer service and privacy, food quality and safety, and customer satisfaction as top priorities[64]. - The Group emphasizes sustainability as a strategic priority, committing to corporate governance and social responsibility[66]. - Stakeholder engagement includes regular communication with the Board, employees, investors, customers, suppliers, and communities to address their concerns and expectations[55]. - The Group's ESG Report includes quantitative data with supplementary notes explaining methodologies and conversion factors used in emissions and energy calculations[53]. - The Group aims to improve its ESG performance continuously and create greater value for the community and society[61]. - The Group's approach to sustainability includes regular reviews of environmental, social, and corporate governance aspects of its business[67]. Waste and Resource Management - The Group has implemented waste management policies to reduce non-hazardous waste, which includes waste oil, food waste, paper waste, and wastewater[85]. - The Group operates a central kitchen and logistics center in Macau to enhance operational efficiency and minimize food waste[86]. - The Group generated an estimated total of 222 tonnes of non-hazardous waste in 2024, an increase of 18.7% from 187 tonnes in 2023[90]. - Food waste accounted for 173 tonnes in 2024, up from 131 tonnes in 2023, while waste oil decreased to 27 tonnes from 32 tonnes[90]. - The Group's total energy consumption in 2024 was 8,546,142 kWh, a decrease of 1.9% from 8,716,132 kWh in 2023[98]. - The Group's total packaging materials consumption decreased to 122.5 tonnes in 2024 from 188.1 tonnes in 2023, a reduction of 34.8%[107]. - The Group is actively enhancing recycling efforts and monitoring local government initiatives for food waste management[92]. Employee and Community Engagement - The Group employed a total of 629 full-time employees and 39 part-time employees as of December 31, 2024[153]. - The average monthly turnover rate for full-time employees was 2.3%[155]. - The Group provides competitive remuneration packages, including salaries, bonuses, and allowances, to attract and retain talent[148]. - The Group has established a scholarship scheme since 1999 to support employees' children in their education, awarding prizes to 9 children during the year[160]. - The Group participated in the Employment Programme for the Elderly and Middle-aged, employing 7 individuals under this scheme during the year[161]. - A total of 148 employees contributed over 20 hours in volunteering activities for various non-profit organizations during the year[196]. - The Group has been nominated for the "2024 Recognition Award Program for Outstanding Elderly People" to acknowledge its employment of elderly individuals in Macau[197]. - The Group has provided lower margin canteen services for universities and schools in Macau as part of its social responsibility[198]. - The Group has been hiring individuals with special needs, providing them with appropriate accommodation and job training for many years[198]. - The Group has established a volunteer team since 2017 to actively participate in community service and bridge the gap between business and community[199]. - The Group encourages employees to engage in charitable activities to promote good corporate citizenship in the cities where it operates[192]. Compliance and Safety - The Group has no material non-compliance with local labor laws, ensuring compliance with regulations related to compensation and employee welfare[144]. - The Group has established a "Food Safety Department" to monitor food safety and hygiene across all operations[168]. - The Group has invested in internal training and safety procedures to maintain high occupational safety and health standards[167]. - There were no work-related fatalities recorded in the past 3 years, and the number of days lost due to work injury was 606 days during the Year[172]. - The Group has an anti-corruption policy in place, with no concluded legal cases regarding corrupt practices against the Group or its employees during the Year[176]. - The Group has strict internal quality control standards for food hygiene and safety, ensuring that raw and cooked foods are stored separately to avoid cross-contamination[185]. - There were no material non-compliance issues with laws related to health and safety, advertising, labeling, and privacy during the year, and no product recalls occurred[186]. - The Group maintains a policy to protect information privacy and confidentiality, with employees trained to handle sensitive information securely[187].
FUTURE BRIGHT(00703) - 2024 - 年度财报