Financial Performance - The overall revenue for the year ended December 31, 2022, increased to approximately RMB 263 million, representing a growth of about 26.5% compared to the previous year[7]. - The net loss attributable to equity shareholders decreased from approximately RMB 406 million in 2021 to about RMB 185 million in 2022[7]. - The hotel business revenue significantly rebounded from approximately RMB 10 million in 2021 to around RMB 61 million in 2022, achieving a gross margin of 30%[8]. - The e-commerce platform's gross margin for the duty-free store business improved from about 16% in 2021 to approximately 27% in 2022, an increase of 11 percentage points[8]. - The duty-free shop business generated revenue of RMB 16,193 million, accounting for 61.6% of total revenue, with a gross margin of 27%, up from 16% in the previous year[13]. - For the year ended December 31, 2022, total revenue from travel group sales in Japan was RMB 2,891 million, with an average revenue per passenger of RMB 56,681, representing 11.0% of total revenue and a gross margin of 16%[11]. - The net income from local tours and free travel products in Japan was RMB 303 million, with an average revenue per passenger of RMB 985, accounting for 1.2% of total revenue and a gross margin of 100%[11]. - The hotel business in Japan saw revenue increase from approximately RMB 1.0 million in 2021 to about RMB 6.1 million in 2022, with a gross margin recovering to 30%[15]. Business Strategy and Future Plans - The company plans to focus on launching customized travel products and applying for financial licenses related to cross-border payment services in 2023[10]. - The management believes that the duty-free store business has the potential for further revenue and margin improvements in 2023 and beyond[10]. - The company aims to enhance its business relationships with suppliers and e-commerce companies through the provision of cross-border payment services[10]. - The hotel business is expected to achieve an occupancy rate of 80% by the end of 2023[8]. - The company has successfully launched two popular products under its HDT brand aimed at addressing aging issues[8]. Cost Management and Financial Health - Administrative and other expenses decreased by approximately RMB 21.5 million due to strict cost control measures implemented by the company[20]. - The company maintained a cautious approach to liquidity, with interest-bearing bank borrowings of approximately RMB 59.1 million as of December 31, 2022[21]. - The capital debt ratio remained stable at 26.7% as of December 31, 2022, compared to 20.0% a year earlier[34]. - Accounts receivable turnover days improved to 12 days from 24 days year-on-year[34]. - Accounts payable turnover days increased to 24 days from 16 days year-on-year[34]. Corporate Governance - The company has a strong commitment to corporate governance, adhering to all applicable provisions of the corporate governance code[58]. - The company has established various committees including audit, remuneration, and nomination committees to enhance governance[44]. - The management team has extensive experience across various sectors, including tourism, technology, and finance, ensuring diverse expertise[50][47]. - The company emphasizes transparency and accountability to all shareholders through effective internal control measures[58]. - The company has not appointed a CEO, which deviates from the corporate governance code C.2.1 that requires a clear division of responsibilities between the chairman and CEO[65]. - The board consists of four executive directors and four independent non-executive directors, providing a diverse range of industry and professional expertise[64]. - All directors have confirmed compliance with the standard code for securities trading as of December 31, 2022, and up to the date of the report[60]. - The board is responsible for overseeing the company's business, strategic decisions, and performance, ensuring decisions are made in the best interest of the company[61]. Risk Management and Internal Controls - The company has established a risk management and internal control system aimed at managing significant risks rather than eliminating them, with regular assessments and reporting to the board[111]. - An external professional firm is engaged to evaluate the effectiveness of the company's risk management and internal control systems, focusing on significant risks[113]. - The board and audit committee found no significant internal control deficiencies and will follow up on all recommendations made by the external consultant[116]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as a key business objective, focusing on environmental, social, and governance (ESG) initiatives[139]. - The company aims to integrate corporate social responsibility into its business strategy and management practices[140]. - The board of directors is responsible for overseeing the company's ESG issues and ensuring alignment with strategic growth[142]. - The ESG working group is tasked with monitoring and evaluating the company's ESG performance and compliance with relevant laws[144]. - The total greenhouse gas emissions decreased from 191 tons CO2e in 2021 to 182 tons CO2e in 2022, with a direct emission reduction from 30 tons to 21 tons CO2e[164]. - The company maintained a greenhouse gas emission intensity of 2 tons CO2e per employee for both 2021 and 2022, with employee numbers slightly decreasing from 77 to 75[165]. - The company reported a significant increase in non-hazardous waste due to the opening of a hotel in Tokyo, highlighting a focus on waste management and recycling initiatives[169]. - The company has implemented measures to reduce carbon emissions by encouraging employees to use public transport and minimizing unnecessary travel[160]. Employee Engagement and Diversity - The company has increased employee engagement initiatives to maintain a diverse and vibrant work environment, supporting career development and well-being[190]. - The total number of employees decreased from 77 in 2021 to 75 in 2022, with a notable reduction in full-time employees from 75 to 69[191]. - The employee turnover rate improved significantly to approximately 3% in 2022, down from higher rates in 2021, particularly in Japan where it dropped from 135% to 0%[192]. - The company achieved a 100% training rate for employees in 2022, with a total training time of 1,014 hours, compared to 1,131 hours in 2021[200]. - The company emphasizes a non-discriminatory and diverse workplace, ensuring equal opportunities for all employees regardless of gender, ethnicity, or other factors[193].
途屹控股(01701) - 2022 - 年度财报