Financial Performance - In 2022, the Group's revenue was approximately HKD 1,650.5 million, a decrease from HKD 2,266.9 million in 2021, representing a year-over-year decline of 27.1%[17]. - The gross profit for the year ended December 31, 2022, was HKD 1,182.5 million, compared to HKD 1,960.5 million in 2021, indicating a decline of 39.7%[19]. - The profit attributable to owners of the company for 2022 was a loss of HKD 51.2 million, compared to a profit of HKD 151.2 million in 2021[21]. - The Group's revenue for the year ended December 31, 2022, decreased by 19.25% to HK$1,334,269,000 compared to the previous year[55]. - Loss attributable to owners of the Company was approximately HK$51,239,000, an increase from HK$27,485,000 in the prior year[55]. - Total retail sales of consumer goods decreased by 0.2% year-on-year, with garment sales falling by 6.5%[54]. - Retail sales revenue was HK$877,155,000, accounting for 65.74% of total revenue, representing a decrease of 28.42% from the prior year[82]. - Revenue from e-commerce platforms increased by 14.21% to HK$411,478,000, making up 30.84% of total revenue, driven by increased consumer reliance on online shopping during the pandemic[82]. Retail Network and Sales - As of December 31, 2022, the Group had a total of 1,084 retail outlets, including 915 concessionary counters and 169 retail shops in Mainland China, Hong Kong, and Macau[10]. - The Group's retail network saw a net decrease of 167 retail outlets, retaining 1,084 outlets with higher sales efficiency, covering over 350 cities in China[42]. - The proportion of sales from Mainland China was 96.5% in 2022, slightly down from 97.0% in 2021[14]. - The lingerie segment represented 85.0% of total sales in 2022, down from 86.3% in 2021[15]. - The Group's concessionary counters saw a decrease in sales contribution to 56.7% in 2022, down from 63.6% in 2021[12]. - The Embry Form brand accounted for 52.3% of total sales in 2022, an increase from 49.6% in 2021[13]. Strategic Initiatives - The Group plans to continue expanding its retail network to capture growing opportunities in major cities across China[9]. - The Group adopted cost control measures and implemented flexible production in response to the challenging operating environment due to the pandemic[38]. - The Group strategically adjusted its store network to optimize the integration of online and offline sales channels[70]. - The Group launched a series of 'China-chic' underwear products, aligning with cultural trends and collaborating with young artists[65]. - The Group enhanced brand competitiveness through a multi-brand strategy, focusing on seven brands including EMBRY FORM and FANDECIE[59]. - The Group plans to explore segmented markets and leverage e-commerce growth to expand its market share in the online retail sector[119]. Corporate Governance - The Company emphasizes good corporate governance practices as essential for effective management and sustainable business growth[152]. - The Board has adopted the Corporate Governance Code from the Hong Kong Stock Exchange as its governance practices[153]. - The Company complied with all applicable provisions of the Corporate Governance Code during the year ended December 31, 2022[154]. - The Board consists of four Executive Directors and three Independent Non-Executive Directors, ensuring a balance of skills and experience[167]. - Independent Non-Executive Directors represent more than one-third of the Board, enhancing its independence and objectivity[168]. - The Company has established mechanisms to ensure independent views are available to the Board[185]. Management and Workforce - The management team includes individuals with extensive experience in strategic management and research and development, enhancing the company's innovation capabilities[137][138]. - Overall workforce gender ratio is 93.7% female and 6.3% male, with 4,298 total employees[176]. - Senior management consists of 50% female and 50% male[176]. - The Company aims for at least one-third of the Board members to be Independent Non-Executive Directors[177]. Market Conditions and Future Outlook - Looking ahead to 2023, the domestic economy is expected to see a mixed recovery, with the consumer sector anticipated to take time to fully recover[45]. - The group expects a mixed recovery in the overall economy in the first half of 2023, with the consumer sector's full recovery taking time due to the uncertain global economic environment[117]. - China's GDP growth in 2022 was 3.0%, lower than the expected 5.5%, impacting the retail consumer market[54]. Awards and Recognition - EMBRY FORM received the Hong Kong Top Brand award from 2007 to 2022, indicating strong brand recognition in the market[129]. - The group received multiple awards for excellence in tax payment, innovation in knitted underwear, and quality in product and service[125][127]. - Embry (Shandong) Garments Limited was recognized as a National Green Factory by the Ministry of Industry and Information Technology of the People's Republic of China[129].
安莉芳控股(01388) - 2022 - 年度财报