Financial Performance - The total revenue for the fiscal year 2024/2025 was HKD 2,078,872,000, a slight increase from HKD 2,072,294,000 in the previous year[36]. - The company recorded a loss attributable to shareholders of HKD 14,466,000, compared to a profit of HKD 106,848,000 in the previous year[36]. - The revaluation loss on investment properties was HKD 21,791,000, contrasting with a revaluation gain of HKD 69,363,000 in the previous year[36]. - The impairment loss on right-of-use assets and equipment increased by HKD 15,179,000[36]. - Overall sales and distribution costs rose by HKD 38,252,000[36]. - Convenience store business revenue increased by 2.2% to HKD 1,198,636,000 for the fiscal year ending March 31, 2025, compared to HKD 1,172,906,000 in 2023/24[37]. - The food business recorded revenue of HKD 711,242,000, slightly down from HKD 717,478,000 in 2023/24, with a segment profit of HKD 64,087,000 compared to HKD 66,324,000[38]. - The packaging business achieved revenue of HKD 154,383,000, down from HKD 166,754,000 in 2023/24, with a segment profit of HKD 11,739,000 compared to HKD 13,214,000[39]. - Retail entertainment business revenue decreased to HKD 9,930,000 from HKD 11,515,000 in 2023/24, with a profit drop to HKD 8,656,000 from HKD 72,437,000[40]. - Property investment rental income increased by 35.5% to HKD 4,681,000 from HKD 3,455,000 in 2023/24, but the property segment recorded a loss of HKD 37,169,000 compared to a loss of HKD 22,064,000 in 2023/24[42]. Strategic Initiatives - The company plans to introduce a fully automated rice production and packaging system to enhance its market position in China[29]. - Circle K's revenue in Vietnam remained stable, benefiting from the introduction of new local coffee and tea products[27]. - The company expanded its business in Japan with a strategic acquisition in Niseko, introducing seven restaurants as part of a leisure lifestyle resort project[30]. - The packaging materials business experienced growth due to increased export demand from Japanese and Korean clients[31]. - The company aims to modernize its brand image through a large-scale marketing and advertising campaign targeting younger consumers[29]. - The company is actively expanding its Circle K convenience store business in Vietnam, aiming to become a leader in the international convenience store market[54]. - The company has invested in the Niseko ski resort in Japan as part of its long-term development strategy in the Asia-Pacific region[54]. - The company is focusing on enhancing its "retail entertainment" business model to drive growth[54]. Corporate Governance - The independent non-executive directors are subject to re-election every three years, ensuring governance and accountability[52]. - The company has no service contracts with directors that cannot be terminated without compensation within one year[53]. - The company emphasizes the importance of corporate governance through the rotation and re-election of its independent directors[52]. - The company’s executive team includes members with extensive experience in various sectors, including finance, management, and the food industry[56][58]. - The company has established a register of interests in shares and related securities as per the Securities and Futures Ordinance[64]. - The company has complied with the Corporate Governance Code as per the Stock Exchange Listing Rules during the fiscal year[89]. - The group’s major shareholder, Yuen Loong International Limited, holds approximately 32.28% of the issued share capital[87]. - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with listing rules[104]. - All independent non-executive directors confirmed their independence in accordance with the listing rules[107]. - The board held four regular meetings during the year ending March 31, 2025, with all directors having access to timely and appropriate information[109]. Employee Relations - The group is committed to enhancing employee relations and maintaining competitive compensation and benefits for full-time employees[45]. - The total number of employees in the group was approximately 4,203, with a review of the compensation package ongoing[93]. - Employee compensation includes standard wages, medical insurance, allowances, and bonuses, with all employees entitled to paid leave such as statutory holidays and annual leave[198]. - The group has adopted incentive and bonus plans to reward employees contributing to growth and development[198]. - The workforce demographics show 46% male and 54% female employees, with 87% under 30 years old[199]. - The group has received the "5 Years+ Good MPF Employer" award and the "MPF Promotion Award" from the Mandatory Provident Fund Schemes Authority[200]. Environmental, Social, and Governance (ESG) Initiatives - The group aims to enhance financial performance while actively implementing policies for environmental protection, social responsibility, and governance[159]. - The strategic mission of the group is to leverage its foundational business network and local expertise to expand its premium brand and innovative platform portfolio through organic growth or acquisitions[160]. - The group emphasizes the importance of providing relevant and significant information to stakeholders through an importance assessment of ESG issues[162]. - The ESG report is prepared according to guidelines that adhere to principles of materiality, quantification, consistency, and balance[160]. - The group has established an ESG committee structure to meet stakeholder expectations regarding ESG performance[163]. - The company has set environmental goals to achieve by 2030, including a 5% reduction in electricity consumption and greenhouse gas emissions, and a 10% reduction in water usage[173]. - The total harmless waste density for 2025 is projected to be 1.13 kg per ton of product, down from 1.37 kg in 2024[175]. - The company has implemented various waste reduction measures, including the introduction of Hong Kong's first biodegradable plastic rice bag[175]. - The company actively collects woven bags used by suppliers for recycling and explores other reuse methods[176]. - The company has identified 18 significant ESG issues, with 7 categorized as very important and 9 as important[168]. - The company conducts stakeholder surveys to assess significant ESG matters[168]. - The company adheres to local laws and regulations regarding waste disposal and environmental protection[174]. Financial Position and Shareholder Returns - As of March 31, 2025, the group maintained a cash balance of HKD 356,959,000, with total current assets of HKD 744,021,000 and current liabilities of HKD 432,087,000, resulting in a current ratio of 1.7[43]. - The group has no outstanding bank loans as of March 31, 2025, and total equity stood at HKD 1,266,509,000, down from HKD 1,319,781,000 in 2024[43]. - The group reported a mid-term dividend of HKD 0.011 per share, totaling approximately HKD 18,671,000, and a proposed final dividend of HKD 0.012 per share, totaling approximately HKD 20,369,000[73]. - The total dividend for the fiscal year ending March 31, 2025, was HKD 0.023 per share, consistent with the previous year[94]. - Total reserves available for distribution to shareholders as of March 31, 2025, were approximately HKD 274,036,000[80]. - The group’s net asset value as of March 31, 2025, was HKD 0.75 per share based on the actual number of issued shares of 1,697,406,458[91]. - The company ensures fair treatment of all shareholders and provides various means for them to exercise their rights[150].
金源发展国际实业(00677) - 2025 - 年度财报