Financial Performance - The company's revenue for the first half of 2023 was HKD 331.7 million, a decrease of 2.4% compared to HKD 340 million in the same period of 2022[9]. - Gross profit fell by 4.1% to HKD 193.9 million, with a gross margin of 58.5%, down from 59.5% in the previous year[10]. - The retail segment in Hong Kong generated revenue of HKD 251.7 million, a decline of 4.3% year-on-year, accounting for 75.9% of total revenue[11]. - The company recorded a loss attributable to shareholders of HKD 9.6 million for the first half of 2023, compared to a profit of HKD 8.1 million in the same period of 2022[10]. - Revenue for the six months ended June 30, 2023, was HKD 331,678,000, a decrease of 2.4% from HKD 339,998,000 in 2022[59]. - Operating loss for the six months was HKD 10,580,000 compared to an operating profit of HKD 6,022,000 in 2022[59]. - Net loss attributable to the owners of the company was HKD 9,649,000, a significant decline from a profit of HKD 8,074,000 in the previous year[61]. - Total comprehensive loss for the period was HKD 17,963,000, compared to a loss of HKD 6,738,000 in 2022[61]. - The company reported a basic and diluted loss per share of HKD 1.47, compared to earnings of HKD 1.23 per share in 2022[61]. Revenue Segmentation - For the six months ended June 30, 2023, the total revenue from external customers was HKD 331,678,000, with HKD 251,683,000 from retail in Hong Kong and HKD 79,995,000 from wholesale[104]. - The wholesale business in Hong Kong recorded revenue of HKD 80,000,000, an increase of 3.8% from HKD 77,100,000 in the previous year, driven by new product launches[31]. Cost and Expenses - The gross profit for the first half of 2023 was HKD 193,900,000, a decrease of 4.1% from HKD 202,200,000 in the first half of 2022[33]. - Employee costs increased by 5.7% to HKD 104,800,000, with the employee cost ratio rising to 31.6% from 29.2% in the previous year[34]. - Rental expenses for Hong Kong retail stores increased by 4.1% to HKD 51,700,000, with the rental expense ratio rising to 20.5%[35]. - The company’s administrative and operating expenses for the six months ended June 30, 2023, were HKD 182,070,000, compared to HKD 170,240,000 in the previous period[89]. Cash Flow and Liquidity - As of June 30, 2023, the company's bank deposits and cash balance stood at HKD 90,900,000, a decrease from HKD 103,900,000 as of December 31, 2022[42]. - The company's current liabilities exceeded its current assets by HKD 123,200,000 as of June 30, 2023, compared to HKD 107,100,000 as of December 31, 2022[43]. - The company reported a net cash inflow from operating activities of HKD 48,020,000 for the six months ended June 30, 2023, compared to HKD 54,754,000 in the same period of 2022, representing a decrease of approximately 12.5%[68]. - The company’s operating cash flow was impacted by a decrease in operating income, which was HKD 41,500,000 for the six months ended June 30, 2023, down from HKD 57,207,000 in the previous year, a decline of approximately 27.5%[68]. Capital Expenditures - Capital expenditures for the first half of 2023 amounted to HKD 6,600,000, down from HKD 15,900,000 in the first half of 2022, primarily for renovating existing retail stores and purchasing production equipment[41]. - The company has committed capital expenditures of HKD 13,308,000 for property, plant, and equipment as of June 30, 2023, compared to HKD 13,017,000 as of December 31, 2022[153]. Shareholder Information - The company’s major shareholder, Ms. Wong Pui Chu, holds 404,052,600 shares, representing 61.59% of the total issued shares[157]. - Dr. Siu Wing Fu holds 26,554,600 shares, which accounts for 4.04% of the total issued shares[157]. - The company has a stock option plan that allows for the issuance of up to 63,200,000 shares, which is approximately 9.63% of the total issued share capital as of June 30, 2023[168]. Environmental and Social Responsibility - The company recycled approximately 391.9 tons of food waste in the first half of 2023, a decrease from 515.9 tons in the same period of 2022, resulting in a reduction of about 83.5 tons of CO2 equivalent greenhouse gas emissions[53]. - The company generated approximately 87 MWh of renewable energy from solar panels installed on its Hong Kong factory rooftop in the first half of 2023[54]. - The company received multiple awards for its contributions to the industry and society, including recognition as a "Green Organization" by the Environmental Campaign Committee[51]. Corporate Governance - The company adhered to the Corporate Governance Code as outlined in Appendix 14 of the listing rules for the six months ending June 30, 2023[173]. - The Audit Committee, composed of three independent non-executive directors, reviewed the unaudited interim financial information for the six months ending June 30, 2023[175].
鸿福堂(01446) - 2023 - 中期财报