Financial Performance - Retail sales revenue reached HKD 2,798,792,000, representing a slight decrease from HKD 2,892,753,000 in the previous year, maintaining 99.0% of total revenue[14] - The group's revenue for the year reached HKD 2,825,994,000, a decrease of 3.2% compared to the previous fiscal year due to high demand for anti-epidemic supplies during the fifth wave of COVID-19 in Hong Kong[166] - The annual profit amounted to HKD 181,875,000, an increase of 26.7% to HKD 149,938,000 when excluding the wage subsidy income from the Hong Kong government's "Employment Support Scheme"[153] - The gross profit margin rose to 46.4%, up from 45.7% in the previous year[154] - The total borrowings of the group decreased to HKD 13,381,000 from HKD 21,767,000 in the previous year, resulting in a debt-to-equity ratio of 2.26%[124] - Cash and cash equivalents stood at HKD 402,310,000, slightly down from HKD 416,923,000 in the previous year[156] - The group reported profitability across its major markets, including Hong Kong, Singapore, and Macau[155] - The company has maintained its dividend payout level despite challenges faced during the fiscal year[187] - The board proposed a final dividend of HKD 0.08 per share and a special dividend of HKD 0.02 per share, totaling HKD 0.10 per share, with a total dividend of HKD 0.22 per share for the year[156] Market Expansion and Strategy - Macau's revenue increased by 9.3% to HKD 50,878,000, driven by growth in food, beverage, and personal care product sales[15] - The company plans to continue expanding its retail network in Hong Kong, Singapore, and Macau, leveraging its established brand and supplier network[6] - The company is optimistic about the profitability prospects in the Singapore market and is exploring various ways to broaden revenue sources[17] - The company aims to explore new business opportunities and enhance its market position in the home goods retail sector[24] - The group continues to focus on expanding its FMCG supply, including food and beverages, personal care products, and household cleaning supplies, to strengthen its market share[130] - The company is focusing on expanding its health and wellness product lines, responding to increased consumer spending in this category post-pandemic[188] - The company plans to enhance its product offerings in travel-related accessories, anticipating sustained strong demand in the travel sector[188] Operational Efficiency and Innovation - The company aims to enhance operational efficiency and productivity while providing diverse and quality services to customers[2] - The logistics and distribution center restructuring is expected to improve overall distribution capacity for future business growth[7] - The company has restructured its logistics and distribution centers to improve supply chain efficiency, which is expected to enhance overall distribution capabilities for future business growth[196] - The company is investing in new technologies, including the implementation of a digital price tag system and expanding self-checkout machines across all stores to improve operational efficiency[198] - The company has integrated a "SAP ERP" system to enhance operational efficiency and productivity[198] - The group is committed to enhancing its operational systems through technology improvements[131] Leadership and Governance - The company reported a significant contribution from its co-founder and CEO, Ms. Wei, who has been instrumental in developing the business since its inception in 1991[24] - The company has established a solid foundation for further business expansion and market penetration, leveraging Ms. Wei's personal relationships and networks[24] - The company’s board includes experienced members such as Mr. Liu, who has over 40 years of experience in wholesale and retail, and has held senior positions in major retail companies[29] - The Chief Financial Officer, Mr. Zheng, has over 30 years of accounting and financial experience, ensuring robust financial management within the company[27] - The board's composition includes independent non-executive directors with extensive experience in retail and management, contributing to sound governance[28] - The independent non-executive directors have confirmed that the ongoing connected transactions are conducted on normal commercial terms and are fair and reasonable[95] Shareholder Information - The company reported a total of 724,023,000 shares issued as of April 30, 2023[51] - Hiluleka Limited holds 324,000,000 shares, representing 44.75% of the company's equity as of April 30, 2023[56] - David Michael Webb controls 50,603,000 shares, accounting for 6.99% of the company's equity[56] - The total equity held by Ms. Wei Lixia is 362,702,000 shares, representing 50.10% of the company[59] - Mr. Liu Baihui holds a total equity of 350,570,000 shares, which is 48.42% of the company[59] - The company has a commitment to transparency regarding shareholdings and interests of directors and senior management[52] Stock Options and Incentives - The company has granted options for a total of 280,000 shares that remain unexercised as of April 30, 2023[73] - The share options plan allows for a maximum of 10% of the total issued shares to be granted, equating to 72,000,000 shares, unless otherwise approved by shareholders[62] - As of the report date, 65,325,125 shares, or approximately 9.0% of the issued capital, are available for issuance under the share option plan[62] - The total number of stock options granted during the year was 2,265,000, with a weighted average closing price of HKD 2.588 per share prior to the vesting date[82] - The company has a stock reward plan that allows for a maximum of 5% of the issued share capital to be granted as stock rewards, with individual employees limited to a maximum of 1%[80] - The total number of stock rewards available for grant at the beginning and end of the year was approximately 13,467,450 shares and 11,255,150 shares, respectively, representing about 1.9% and 1.6% of the issued share capital[81] Challenges and Resilience - The company maintains a positive outlook for medium to long-term development despite challenges faced in the fourth quarter[8] - The company has implemented immediate measures to address labor shortages, including reviewing employee benefits and recruitment strategies[7] - The group demonstrated strong resilience during the COVID-19 pandemic, adapting and growing in a volatile market[200] - The strategy of providing a diverse range of essential goods at competitive prices proved effective in a fluctuating market[200] - Measures such as optimizing product mix, enhancing global product supply, and improving sales efficiency yielded positive results[200]
国际家居零售(01373) - 2023 - 年度财报