Website and Audience Engagement - The average monthly unique visitors to the website increased by 14.6% compared to the 2022 fiscal year[11] - Total social media followers reached 34 million, reflecting significant growth in audience engagement[11] - Hypebeast's platforms, including Hypebeast, Hypebae, and Popbee, have gained the trust of over one million global readers[17] Revenue and Financial Performance - Total revenue for the fiscal year 2023 was HKD 960 million, with a gross profit of HKD 505 million[30] - Media revenue accounted for HKD 644 million, while e-commerce and retail revenue reached HKD 316 million[30] - The company reported a pre-tax profit of HKD 18 million, despite an annual loss of HKD 5 million[30] - The media segment's revenue for fiscal year 2023 was HKD 644.2 million, a slight decrease of 1.4% from HKD 653.6 million in fiscal year 2022[44] - The media segment's gross profit for fiscal year 2023 was HKD 374.5 million, down from HKD 450.9 million in fiscal year 2022[44] - The adjusted profit for the fiscal year 2023 decreased by 80.3% to HKD 27,900,000 from HKD 141,700,000 in fiscal year 2022[52] - EBITDA for fiscal year 2023 decreased by 56.8% to HKD 93,100,000 from HKD 215,800,000 in fiscal year 2022[52] - Revenue cost increased by approximately 31.3% to HKD 454,600,000 in fiscal year 2023 from about HKD 346,300,000 in fiscal year 2022[53] - Overall gross margin decreased from approximately 61.3% in fiscal year 2022 to about 52.6% in fiscal year 2023[54] Operational Efficiency and Cost Control - The company plans to prioritize operational efficiency and cost control to ensure profitability across all departments[13] - The company implemented cost and efficiency measures to mitigate risks during economic challenges[9] - The company aims to enhance its ecosystem to strengthen connections between brands and readers, focusing on unique and authentic content[14] - The company is focusing on creating new products and experiences to generate long-term value[13] Market Expansion and New Initiatives - The company launched new platforms targeting Latin America and Africa, expanding its content reach[10] - The company is expanding its retail presence with flagship stores in New York and Hong Kong, and official stores on Tmall and WeChat in mainland China[26] - The company is launching Hypebeast Latin America and Hypebeast Africa to provide high-quality content tailored to unique regional interests[43] - The company is expanding its digital content offerings to attract a broader audience, including new editorial categories in golf, arts, and entertainment[43] Employee and Workforce Management - The company employed a total of 576 employees as of March 31, 2023, compared to 470 employees on March 31, 2022, reflecting an increase in workforce[80] - Employee costs for the fiscal year ending March 31, 2023, amounted to approximately HKD 317.2 million, up from HKD 240.9 million for the previous fiscal year, primarily due to the increase in employee numbers[80] - The company maintained a focus on employee welfare, offering benefits such as fitness membership discounts and pet-friendly offices[196] - The company organized year-end parties to recognize employee contributions, enhancing employee engagement[196] Corporate Governance and Compliance - The company has achieved compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO[93] - The company has a strong commitment to corporate governance, emphasizing transparency and accountability to maintain stakeholder trust[93] - The board consists of five members, including three independent non-executive directors, ensuring a balance of experience and independent judgment[95] - The company has established a whistleblowing policy to prevent corruption and bribery, with internal reporting channels available for employees[124] Environmental, Social, and Governance (ESG) Initiatives - The group reported a continuous reduction in emissions and resource consumption due to waste reduction initiatives implemented during the reporting period[135] - The group has established clear short-term and long-term sustainability goals to support the Hong Kong government's aim for carbon neutrality by 2050[135] - The group aims to reduce greenhouse gas emissions by approximately 3% by 2026 and achieve carbon neutrality in Hong Kong and China by 2050 and 2060, respectively[185] - The company recognizes climate change as a significant risk and is integrating identified risks into its business strategy and risk management framework[184] Financial Position and Cash Flow - The company recorded a net cash outflow from operating activities of HKD 65,500,000 in FY2023, compared to an inflow of HKD 158,600,000 in FY2022[60] - Total assets as of March 31, 2023, were approximately HKD 642,400,000, down from HKD 730,000,000 a year earlier, with total liabilities decreasing from HKD 252,100,000 to HKD 175,800,000[62] - Cash and cash equivalents decreased by HKD 118,200,000 to HKD 166,000,000 as of March 31, 2023, impacted by a net cash outflow from financing activities of HKD 40,800,000[60] Risk Management and Internal Controls - The board has reviewed the effectiveness of the risk management and internal control systems, concluding that they are adequate and effective for the year ended March 31, 2023[126] - The company has implemented measures to reduce credit risk, including credit assessments for new customers and monitoring existing customers' financial conditions[70] - The company has established a system to assess sanction risks before engaging in business opportunities with sanctioned countries or individuals[126]
HYPEBEAST(00150) - 2023 - 年度财报