Financial Performance - The profit attributable to the owners of the Company increased by approximately 4.2% year-on-year to HK$316.5 million[12]. - The Group's revenue increased by approximately 4.1% year-on-year to HK$4,025.0 million[15]. - The Group achieved a profit attributable to shareholders of HKD 316.51 million, an increase of 4.2% compared to the previous year[31]. - The Group's revenue increased by approximately 4.1% year-on-year, reaching HKD 4.025 billion[31]. - Revenue for FY2022 reached HK$4,025.0 million, a 4.1% increase from HK$3,866.3 million in FY2021[39]. - Gross profit for FY2022 was HK$1,294.6 million, representing a gross margin of 32.2%, up from 31.7% in FY2021[39]. - Adjusted EBITDA for FY2022 was HK$606.9 million, slightly up by 0.4% from HK$604.1 million in FY2021[39]. - Basic earnings per share increased to 30.32 HK cents for the year, compared to 28.74 HK cents in 2021[47]. - The final dividend per share increased to 15.16 HK cents, a 4.1% rise from 14.56 HK cents in FY2021[39]. Market Expansion and Product Development - The operations in Mainland China maintained a positive growth trend in annual sales volume despite weaker consumption sentiment in the second half of 2022[15]. - The Hong Kong operations ranked first in market share of the frozen dim sum category, contributing to increased annual revenue[15]. - The Group plans to significantly increase the sales volume of Cup Noodles and other instant noodle products by expanding distribution networks in Western and Northern regions of Mainland China[28]. - The Group aims to focus on the sale of premium frozen foods to capture demand from the overseas market[29]. - The Group launched a premium version of Demae Iccho using 100% Hokkaido wheat flour in both Hong Kong and China, enhancing product quality and variety[32]. - The company introduced a new membership program "Nissin Foodium" in July 2022, offering exclusive benefits and rewards to enhance customer engagement[57]. - The company launched new products including plant-based soy and oat milks and organic juices, responding to rising health awareness among consumers[66]. - The company continued to diversify its product portfolio into non-noodles business, leveraging management expertise and distribution networks[59]. Cost Management and Economic Outlook - The Group faced rising raw material prices and increased logistics costs but managed to offset these through price adjustments[15]. - The Group expects to benefit from the stabilization of raw material prices, particularly palm oil, and the return of logistics costs to normal levels[27]. - The company adjusted ex-factory product prices in two phases, implementing mid-to-high single-digit increases to mitigate rising production costs[51]. - The company expects to benefit from stabilized raw material prices and improved logistics costs in 2023[37]. - The Chinese government is anticipated to boost consumption to stimulate the economy, while the Hong Kong SAR government has introduced stimulus measures to attract tourists[27]. Sustainability and Corporate Responsibility - The Group will continue to utilize renewable energy in its operations, including the installation of new solar power generation systems at various plants[24]. - The new lid design for Cup Noodles reduces the amount of PET used compared to previous versions, aligning with environmental management goals[35]. - The Group has established scholarship programs to support future food scientists and physical education teachers in Hong Kong, awarding scholarships to multiple students in 2022[25]. - The Group is committed to continuous product upgrades and cost optimization, pursuing a premiumization strategy to enhance consumer experiences[44]. - The company is focused on maximizing business outcomes while contributing to sustainable community growth[31]. Governance and Management - The Company is committed to maintaining good corporate governance practices, complying with the Code on Corporate Governance Practices, with the exception of the separation of roles between the chairman and CEO[131]. - The Board believes that the current structure allows for swift and effective business decision-making, promoting the Group's development[134]. - The Audit Committee consists exclusively of independent non-executive directors, ensuring accountability and independent decision-making[131]. - The Board oversees the Group's businesses, strategic decisions, and risk management[143]. - The Company has adopted mechanisms to ensure Board independence, which are reviewed annually[142]. Employee Development and Training - The Group conducted ten training sessions annually for newly recruited employees to enhance their awareness and operational expertise in the industry[24]. - The Group's training programs for new employees are conducted ten times a year to enhance knowledge and skills in various operational areas[36]. - As of December 31, 2022, the total number of staff was 3,511, with staff costs amounting to approximately HK$707.7 million for the year[97]. Risk Management - The Group has adopted a risk management policy that includes five core stages: risk identification, risk assessment and prioritization, risk response, risk monitoring, and risk reporting[190]. - The Audit Committee monitored the effectiveness of the Group's risk management and internal control systems, deeming them sufficient and effective[185]. - The Board is responsible for monitoring the effectiveness of risk management and internal control systems, ensuring they align with business objectives[191].
日清食品(01475) - 2022 - 年度财报