Financial Performance - For the year ended December 31, 2022, the turnover decreased by 40.0% to HK$285,056,000 compared to HK$475,422,000 in 2021[7] - The gross margin also fell by 40.6% to HK$195,325,000 from HK$328,734,000 in the previous year[7] - The company reported a loss attributable to owners of the Company of HK$125,612,000, representing an increase of 72.2% from HK$72,953,000 in 2021[7] - Basic loss per share increased by 72.2% to HK(18.09) cents from HK(10.51) cents in 2021[7] - Total assets decreased by 12.7% to HK$949,936,000 from HK$1,088,091,000 in 2021[9] - Net assets fell by 27.0% to HK$295,503,000 compared to HK$404,835,000 in the previous year[9] - The gearing ratio increased to 212.6%, up from 159.6% in 2021, indicating a rise of 53.0%[9] - The Group recorded a loss attributable to shareholders of approximately HK$125.6 million for the year, an increase of about 72.2% compared to a loss of HK$72.9 million in 2021[24] - The Group's turnover decreased by approximately 40.0% compared to the previous year[28] - The food and catering business incurred a loss attributable to owners of approximately HK$115.3 million, including impairment losses on property and equipment of about HK$12.4 million and goodwill impairment of HK$25.8 million[25] - The Group's gross operating loss ratio was 4.5%, compared to a gross operating profit ratio of 2.8% in 2021[28] Impact of COVID-19 - The COVID-19 pandemic, particularly the Omicron variant, significantly impacted the Group's business and financial performance throughout 2022[19] - Various outbreaks in regions such as Hong Kong and Macau led to tightening of travel and dining restrictions, adversely affecting the food and beverage industry[20] - The Macau government's travel restrictions were progressively eased starting in late 2022, allowing for a gradual increase in visitor arrivals[20] - Visitor numbers to Macau decreased by 26.0% to 5,700,339 in the year, compared to 7,705,943 visitors in 2021[33] - With the lifting of travel restrictions in early January 2023, there is an expectation of improved visitor levels and business performance in Macau and Hong Kong[44] Business Operations and Developments - A casual Cantonese restaurant has recently opened in Macau, with plans to open three food court counters at Lisboeta Macau in 2023[37] - The Group's management will continue to monitor business development and operations closely to enhance brand value and market position[44] - The Group's central kitchen and logistics center in Macau is responsible for the procurement, delivery, and distribution of fresh and safe food ingredients to the Group's restaurants, with a smaller central kitchen in Hong Kong for specific food items[55] Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the Group's business activities in Macau, Hong Kong, and Mainland China, with key performance indicators (KPIs) established to benchmark performance[56] - The Group engages independent professional firms for annual reviews of its internal control and risk systems, ensuring compliance with environmental and social responsibilities as per local regulations[55] - The Board regularly reviews and updates strategies and policies related to environmental and social issues, assigning senior management to implement these changes[55] - The materiality assessment conducted during the reporting period identified key issues for the ESG report, confirmed by the Board[62] - Stakeholder engagement is prioritized, with the Group maintaining communication with various stakeholders, including employees, investors, and regulatory authorities[64] - The Group is committed to improving its ESG performance and creating greater value for the community and society on a continuous basis[70] Environmental Performance - In 2022, total NOx emissions decreased to 44.0 kg from 66.8 kg in 2021, representing a reduction of approximately 34%[87] - GHG emissions in 2022 totaled 5,701 tCO2e, down from 10,811 tCO2e in 2021, indicating a decrease of about 47.3%[93] - Total non-hazardous waste generated in 2022 was 99 tonnes, down from 165 tonnes in 2021, reflecting a reduction of about 40%[103] - Energy consumption decreased by 35.3% in 2022 compared to 2021, contributing to improved operational efficiency[108] - The Group aims to achieve its 2026 environmental targets, which will depend on sales performance from 2023 to 2026[135] Employee Development and Safety - As of December 31, 2022, the Group employed a total of 586 full-time employees and 101 part-time employees, with an average monthly turnover rate of 3.4%[177][179] - The average training hours per full-time employee in 2022 was 2.8 hours, with variations by gender and age group[186] - The Group treats occupational health and safety as a top priority, investing in internal training and safety procedures[190] - All restaurant employees are required to attend health and safety training, and safety procedures are in place to handle emergency cases[194] - The Group has implemented mandatory mask-wearing and temperature checks for employees and customers during the COVID-19 pandemic, which continues to ensure a hygienic environment[195]
FUTURE BRIGHT(00703) - 2022 - 年度财报