Business Operations - The Group has been the sole authorized distributor of FUJIFILM photography products in Hong Kong and Macau since 1968, and of ASTALIFT skincare products since 2010[24]. - The Group operates retail businesses in Hong Kong through its Fotomax retail chain, providing photofinishing and imaging solutions[24]. - In August 2015, the Group acquired a 49% stake in the Hong Kong operations of kikki.K, an international retail chain[24]. - Since July 2019, the Group has been providing imaging operations at Hong Kong Disneyland Resort, expanding its business in a new field[24]. - The Group organized various activities to promote its brands despite challenges posed by the pandemic[35]. - The Group's diversified business portfolio helped navigate challenges posed by the pandemic[80]. - The Group's operations were significantly disrupted in Q4 due to the fifth wave of the pandemic and stringent government measures[94]. - The Group's services segment experienced a significant sales increase of 47.6% YOY, driven by the reactivation of previously suspended projects[129]. - The Group's sales orders from hotels and casinos in Macau contributed to sustaining sales in the B-to-B segment[116]. Financial Performance - Revenue for the year ended 31 March 2022 was HK$1,015,240,000, an increase of 10.8% from HK$916,750,000 in 2021[30]. - Profit attributable to owners of the Company for the year was HK$18,110,000, compared to HK$33,635,000 in the previous year, reflecting a decrease of 46.1%[30]. - Basic earnings per share decreased to 1.53 HK cents from 2.84 HK cents, a decline of 46.1%[30]. - Total assets less current liabilities increased to HK$716,694,000 from HK$707,094,000, a growth of 0.2%[30]. - Current ratio for the year was 287.73, down from 296.92 in the previous year, indicating a decrease in liquidity[30]. - The dividend pay-out ratio increased to 65.45% from 35.24% in the previous year, indicating a higher proportion of earnings distributed as dividends[30]. - Cash and bank balances decreased to HK$229,230,000 from HK$282,663,000, a decline of 18.9%[30]. - The Group recorded a consolidated turnover of HK$1,015 million, representing a year-on-year growth of 10.7%[94]. - Net profit attributable to shareholders was HK$18.1 million, a decrease of 46.2% or HK$15.5 million compared to FY2020/21[98]. - Basic earnings per share were HK$0.0153, down from HK$0.0284 in FY2020/21[80]. Product Development and Launches - FUJIFILM launched the instax mini 11 BTS Butter special edition, which was well received by fans[38]. - The instax Link WIDE, launched in December 2021, is the first wide-format film printer featuring QR Code and collage printing functions[39]. - The instax mini STONE GRAY instant film was introduced, featuring a gray frame that imitates rock color with silver metallic accents[40]. - The GFX50S II digital camera, launched in September 2021, weighs only 900g and features a 51.4-megapixel large-format sensor[52]. - The X-T30 II digital camera, launched in September 2021, includes a new algorithm for improved autofocus and up to 18 film simulation modes[53]. - The instax mini Evo hybrid instant printer, launched in December 2021, combines instant camera and printer features with 100 different photo styles[58]. - The instax mini 40 instant camera, launched in May 2021, features a built-in self-timer and automatic shutter speed adjustment[55]. - The instax Link WIDE photo printer weighs approximately 340g and is available in two colors: Ash White and Mocha Gray[56]. - The instax mini 11 BTS Butter special edition features a cream yellow body color inspired by the BTS album cover[59]. - The instax WIDE BLACK instant film was launched in December 2021, expanding the product line[60]. - The Group launched several new products in FY2021/22, including the instax mini 40 and instax mini Evo, which were well received in the market[104]. Marketing and Sales Strategies - The Group enhanced its online shopping platforms to improve user experience and accommodate various payment methods[82]. - The Group organized marketing events on social media, achieving high engagement rates and strong sales during product launches[106]. - Seasonal promotions, including complimentary photo services during Mother's Day and Father's Day, were implemented to strengthen customer engagement[126]. - The Group's promotional activities were cost-effective, primarily utilizing word-of-mouth and social media platforms like Facebook and Instagram[119]. - The Group maintained a healthy inventory level and focused on brand building and close contact with potential commercial customers through eDM[116]. Employee Engagement and Corporate Culture - The Group emphasizes the importance of corporate culture for sustainable development and management[4]. - The Group encourages employees to propose innovative working solutions to enhance competitiveness[13]. - The Group focuses on professional knowledge training for employees and their personal potential development[13]. - The Group promotes a harmonious and cooperative team spirit to maximize employee capacities[18]. - The Group has been committed to providing quality services and products for over half a century[170]. - A comprehensive Key Performance Indicators (KPI) program was implemented to enhance operational efficiency and measure staff performance[140]. - The Group had a total of 530 staff members as of 31 March 2022, an increase from 525 in the previous year[139]. Corporate Social Responsibility and Sustainability - The Group is committed to creating high-quality products and services while fulfilling corporate social responsibility[16]. - During FY2021/22, the Group contributed to society through donations and voluntary services, including distributing COVID-19 rapid antigen testing kits[82]. - The Group's Social Responsibility Team organized various voluntary services targeting those in need, including the physically and mentally handicapped, elderly, and abandoned animals[141]. - The Group's ESG Committee is responsible for overseeing sustainability policies and performance, focusing on environment, workplace, supply chains, and community[170]. - The Group has adopted various green office initiatives, including the development of e-forms and materials recycling, to reduce environmental impact[170]. - The Group actively collaborates with stakeholders to work towards a more sustainable future despite challenges posed by the COVID-19 pandemic[170]. Risk Management and Financial Strategy - The Group adopted a conservative approach to financial risk management, avoiding highly leveraged or speculative derivatives products[133]. - The Group has implemented cost-cutting measures that are expected to save $J million annually, improving overall profitability[157]. - The Group's approach to procurement includes managing relationships with suppliers and subcontractors, focusing on environmental and labor aspects[193]. - The Group's governance practices enhance transparency in risk management and anti-corruption efforts[195].
中港照相(01123) - 2022 - 年度财报