Financial Performance - The revenue from the travel group for the fiscal year 2024/2025 was approximately HKD 367.1 million, maintaining relative stability compared to the previous year[18]. - The gross profit from the travel group decreased by 5.2% to about HKD 62.1 million, primarily due to high inflation and rising oil prices affecting transportation, accommodation, and other land costs[18]. - The revenue from retail operations fell by 7.0% to approximately HKD 17.4 million, attributed to a challenging market environment and a decline in tourist numbers[11]. - The total revenue for the group, including discontinued operations, was HKD 391.1 million, down from HKD 407.6 million in the previous fiscal year[15]. - The group recorded a loss of approximately HKD 1.3 million in the fiscal year 2024/2025, a 90.6% reduction compared to a loss of HKD 13.8 million in the previous fiscal year[28]. Operational Changes - The group plans to cease retail operations effective March 17, 2025, after careful consideration of market conditions[11]. - The group is focusing on diversifying its business across industries to expand revenue sources and enhance business performance[12]. - The group has opened a new concept store in Lai Chi Kok, Kowloon, and completed renovations of its store in Causeway Bay to improve customer experience[11]. - The group has expanded its travel products to over 20 countries, including new destinations in Europe, Australia, Africa, and Asia[11]. Cost Management - Sales expenses decreased by approximately HKD 8.3 million to about HKD 30.7 million in the fiscal year 2024/2025, mainly due to reduced employee costs after the sale of the restaurant business[25]. - Administrative expenses decreased by approximately HKD 11.9 million to about HKD 36.4 million in the fiscal year 2024/2025, primarily due to the absence of annual discretionary bonuses[26]. - The group's capital expenditure for the fiscal year 2024/2025 was approximately HKD 5.0 million, down from HKD 6.7 million in the previous fiscal year[36]. Governance and Management - The company has appointed Huang Zemin as an independent non-executive director on March 20, 2024, who is currently the CFO of CNA Group and has prior experience as CFO of Shun Tong International Holdings Limited[49]. - Rebecca Kristina Glauser and Juan Ruiz-Coello were appointed as independent non-executive directors on December 29, 2023, with Glauser having over 18 years of experience in the health and wellness industry[50][51]. - The board consists of six directors, including executive directors Zheng Jian, Wang Chenwei, and Liao Yingshun, with Zheng Jian appointed as CEO on May 20, 2024[58]. - The company emphasizes high-quality corporate governance practices to protect shareholder interests and enhance business growth[56]. - The company has complied with all corporate governance code provisions during the fiscal year 2024/2025[57]. Risk Management - The company has implemented foreign exchange risk management procedures to mitigate risks associated with the Japanese yen, with outstanding forward foreign exchange contracts valued at approximately HKD 2 million as of March 31, 2025[38]. - The board is responsible for the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[94]. - The company has appointed an internal control consultant to review and enhance internal policies related to risk events, with the board believing that internal control deficiencies have been remedied[95]. Environmental, Social, and Governance (ESG) Initiatives - The company’s environmental, social, and governance (ESG) report covers the fiscal year from April 1, 2024, to March 31, 2025, highlighting sustainable development strategies and key ESG initiatives[118]. - The company has engaged an independent third-party sustainability consultant to review the report content, ensuring a fair and balanced presentation of positive developments and areas needing improvement[125]. - The company’s ESG report utilizes quantitative indicators to disclose key performance metrics, ensuring transparency and measurable assessments of ESG performance[124]. - The company has established a comprehensive ESG issue database for the fiscal year 2024/2025, which includes a total of 27 issues relevant to its operations[137]. Employee Management - Employee benefits expenses for the fiscal year 2024/25 totaled approximately HKD 38.0 million, a decrease from HKD 42.1 million for the fiscal year 2023/24[40]. - The employee turnover rate decreased from 2.9% in the fiscal year 2023/2024 to 2.1% in the fiscal year 2024/2025, indicating ongoing operational stability and effective employee retention measures[173]. - The average training hours for employees in the fiscal year 2024/2025 were 95.6 hours for supervisors and 175.9 hours for senior management, with a training participation rate of 60% overall[178][179]. - The company is committed to assessing climate-related risks and opportunities, with ongoing evaluations for potential significant impacts on operations in the fiscal year 2024/2025[162]. Customer Relations - The group received 15 product quality-related complaints, with 13 resolved and 2 still in process, indicating a strong focus on customer safety and compliance[190]. - The group received 15 customer complaints in the fiscal year, primarily related to itinerary arrangements, all handled according to established procedures[193]. - All 1,259 organized tours during the fiscal year were conducted without cancellations, reflecting the group's commitment to excellent service[190]. Supplier Management - The company collaborated with 79 suppliers in the fiscal year 2024/25, a decrease of 33.6% compared to the previous year, with suppliers located in Hong Kong (34), Japan (20), South Korea (4), China (6), Taiwan (3), and others (12)[188]. - The company implemented a rigorous supplier selection process, focusing on pricing competitiveness, service quality, brand reputation, and adherence to safety and cleanliness standards[183]. - Continuous evaluation of supplier performance is a core aspect of the company's supply chain management strategy, incorporating structured internal processes and customer feedback mechanisms[187].
飞道旅游科技(08069) - 2025 - 年度财报