Sales Performance and Revenue - The company achieved stable sales performance despite a challenging business environment, meeting market expectations[17] - Total revenue decreased by 7.7% to HKD 620.7 million for the year ended December 31, 2024, compared to HKD 672.7 million in 2023[27] - Hong Kong retail revenue fell by 7.2% to HKD 467.3 million, accounting for 75.3% of total revenue[29] - Wholesale revenue declined by 9.2% to HKD 153,400,000, compared to HKD 168,900,000 in 2023, accounting for 24.7% of total revenue[35] - The mainland China wholesale business saw a significant drop of 21.7% in revenue, down to HKD 19,100,000 from HKD 24,400,000 in 2023[38] Membership and Customer Engagement - Membership in the "self-owned CLUB" increased by approximately 100,000, surpassing 1.4 million members by December 31, 2024[19] - The company reported a total of over 1,458,000 members in its "self-owned CLUB" loyalty program as of December 31, 2024, indicating a strong customer retention strategy[95] Product Development and Innovation - The company introduced new products, including a vegetarian option in its postpartum product line and new flavors of herbal tea, contributing to its product diversification[11] - The company plans to expand its product offerings by collaborating with various brands to develop functional beverages and health-focused meals[22] - New product launches included sugar-free beverages and collaborations with major supermarkets to enhance product penetration[37] - The company will continue to focus on health-oriented products, including more sugar-free options and soups, to meet consumer demand[46] Financial Management and Cost Optimization - The company plans to optimize costs and enhance production efficiency, significantly narrowing losses in response to the complex operating environment[19] - The loss attributable to owners narrowed to HKD 13.7 million from a loss of HKD 34.6 million in the previous year[27] - Cash and cash equivalents increased to approximately HKD 110.2 million, up from HKD 88.5 million in 2023[27] - Employee costs for the fiscal year ending December 31, 2024, were HKD 189.7 million, a decrease of 10.6% from HKD 212.2 million in 2023, with employee costs as a percentage of revenue at 30.6%, down from 31.5%[53] - Rental expenses related to retail stores in Hong Kong amounted to HKD 98.7 million, a decrease of 5.7% from HKD 104.7 million in 2023, with rental expenses as a percentage of revenue at 21.1%, compared to 20.8% in 2023[54] Market Expansion and Strategic Initiatives - The company is actively pursuing market expansion in the U.S., U.K., Thailand, Indonesia, and Japan while enhancing brand visibility[22] - The company continues to expand its wholesale business in overseas markets to mitigate the impact of economic fluctuations in mainland China and Hong Kong[98] - The company participated in the 7th China International Import Expo, establishing a strategic cooperation agreement with a subsidiary of Feng's Group[13] Sustainability and Environmental Initiatives - The company reduced carbon emissions by approximately 68 metric tons through the use of 100% rPET recycled bottles in new product launches[11] - The group recycled approximately 316 tons of food waste in 2024, contributing to a reduction of about 163 tons of CO2 equivalent greenhouse gas emissions[68] - The group installed solar panels that generated 174 MWh of renewable energy in its Hong Kong facility and 2,950 MWh in its mainland China facility during the fiscal year[68] - Future guidance indicates a commitment to sustainable practices, with a target of reducing carbon emissions by F% over the next five years[10] Corporate Governance and Management - The board of directors includes Mr. Xie Baoda (Chairman) and Dr. Situ Yongfu (CEO), among others[122] - The company has adopted the corporate governance code as per the listing rules, emphasizing effective internal controls and risk management systems[152] - The board is responsible for establishing strategic goals and ensuring the necessary financial and human resources to achieve business objectives[159] - The company emphasizes transparency and accountability in its corporate governance practices to enhance shareholder value[152] Community Engagement and Social Responsibility - The group sponsored over 13,000 food vouchers, raising over HKD 1 million for charity through its participation in the "折"食日 event, marking 15 consecutive years of support[71] - The group continues to support various community initiatives, including the "無障行者" event to assist individuals with disabilities and long-term illnesses[71] - The company is committed to corporate social responsibility, engaging in various activities that benefit employees, the community, and the environment[101] Employee Development and Well-being - The group conducted nearly 366 hours of training courses with over 1,000 employees participating during the review year[70] - The group emphasizes employee well-being and work-life balance through initiatives like pet care workshops in collaboration with local animal welfare organizations[70] - The company has established a culture of continuous improvement and employee development, evidenced by its extensive training programs and recognition as a "Super人才企業" by the Employee Retraining Board[73]
鸿福堂(01446) - 2024 - 年度财报