Financial Performance - The company reported record revenue and profitability for the fiscal year 2022, marking a significant year of growth[5] - Total revenue for the fiscal year 2022 was HKD 896 million, with a net profit of HKD 100 million[25] - Gross profit amounted to HKD 549 million, resulting in a gross margin of approximately 61%[30] - The company reported a revenue of HKD 895.632 million for the fiscal year 2022, representing a 32.8% increase from HKD 674.212 million in fiscal year 2021[40] - Gross profit for the fiscal year 2022 reached HKD 549.313 million, a significant increase of 64.4% compared to HKD 334.127 million in the previous fiscal year[40] - Adjusted EBITDA for the fiscal year 2022 was HKD 204.437 million, up 66.8% from HKD 122.596 million in fiscal year 2021[40] - Adjusted profit for the fiscal year 2022 increased by 84.7% to HKD 130,400,000, primarily due to revenue growth in the media and e-commerce segments and cost-saving measures[54] - Total profit and comprehensive income rose by 38.3% from approximately HKD 74,500,000 in fiscal year 2021 to approximately HKD 103,000,000 in fiscal year 2022, with a slight increase in net profit margin from 11.1% to 11.5%[66] Business Segments and Growth - The media and agency segments maintained strong momentum, with new business areas like Hypemoon, Hypeart, and Hypegolf contributing to revenue diversification[6] - The company is focused on expanding its distribution channels into new regions and optimizing product categories, including fashion lifestyle products and collectibles[6] - The company has established strong business relationships with over 250 e-commerce and international brands, capitalizing on the vast opportunities in the global apparel and sneaker market[10] - The company continues to enhance its digital media platform, Hypemedia, and creative services agency, Hypemaker, to strengthen community engagement and brand connections[10] - The company aims to leverage its unique brand engagement and customer loyalty to drive further business development[10] - Revenue for the fiscal year 2022 increased by HKD 221,400,000 or 32.8% to HKD 895,600,000, with the media segment growing by 46.1% to HKD 653,600,000 and the e-commerce and retail segment increasing by 6.7% to HKD 242,000,000[41] Operational Developments - The newly opened Hypebeast building in the U.S. spans seven floors and includes the HBX flagship store, Hypebeans café, and event space, aimed at accelerating growth in North America[8] - Hypebeans opened its first U.S. store in New York in 2022, expanding its presence beyond Hong Kong and Seoul[23] - The flagship HYPEBEAST building opened in Manhattan's Chinatown on June 17, 2022, serving as a multifunctional space for retail and cultural events[36] - The company is investing in both online and offline channels to create meaningful connections with its community[6] - The company is focusing on enhancing user experience on the HBX platform to encourage seamless shopping for its loyal readership[38] Market and User Engagement - The company has a loyal and engaged user base, primarily consisting of high-income Generation Z and millennials, across over 80 markets globally[10] - The company aims to connect cultural exploration with global audiences through its three main business segments: Hypemedia, HBX, and Hypemaker[14] - The media division's activities have surpassed pre-COVID-19 levels, indicating a recovery in demand for offline events and promotions[36] Expenses and Financial Management - Administrative and operating expenses were HKD 203 million, while sales and marketing expenses totaled HKD 160 million[25] - Sales and marketing expenses increased by 42.2% from HKD 112,800,000 in fiscal year 2021 to HKD 160,400,000 in fiscal year 2022, with the revenue percentage slightly increasing from 16.7% to 17.9%[59] - Administrative and operating expenses rose by 62.1% from HKD 125,000,000 in fiscal year 2021 to HKD 202,700,000 in fiscal year 2022, with the revenue percentage increasing from 18.5% to 22.6%[61] Corporate Governance - The company is committed to maintaining high levels of corporate governance, ensuring compliance with regulations and fostering accountability and transparency to create long-term value for shareholders[108] - The board consists of a mix of executive and independent non-executive directors, ensuring a balance of skills and experience necessary for effective oversight of the business[112] - The company has adopted the standard code of conduct for securities trading by directors, confirming full compliance with the regulations during the reporting period[109] - The audit committee reviewed the consolidated financial statements for the year ending March 31, 2022, and the six months ending September 30, 2021[127] Environmental and Social Responsibility - The group has established clear short-term and long-term sustainability goals to address waste reduction and achieve continuous emission and resource reduction[153] - The company has been recognized for its environmental efforts, receiving the "Outstanding Environmental Partner - Bank of China (Hong Kong) Corporate Environmental Leadership Award" for two consecutive years[171] - The company is committed to sustainable practices and aims to integrate various sustainability routines into its operations[171] - The company prioritizes working with suppliers that adhere to strict environmental and sustainable development measures[185] Risk Management - The company has a strong focus on risk management practices to mitigate operational and financial risks[94] - The company’s financial risk management policies are detailed in the consolidated financial statements[94] - The company faces risks related to maintaining relationships with existing brand owners and advertising agencies, as well as attracting new digital media clients[93]
HYPEBEAST(00150) - 2022 - 年度财报