Financial Performance - For the fiscal year ending March 31, 2023, the company reported revenue of approximately HKD 486.8 million, an increase of 4.0% compared to HKD 468.2 million in the previous fiscal year[18]. - The gross profit for the fiscal year was HKD 105.1 million, reflecting a significant increase of 36.3% from HKD 77.1 million in the prior year[18]. - Net profit surged to HKD 29.0 million, a remarkable increase of 2,316.7% compared to HKD 1.2 million in the previous fiscal year[17]. - Basic earnings per share rose to HKD 6.94, up 4,526.7% from HKD 0.15 in the previous year[18]. - The retail business achieved revenue of HKD 242.5 million, an increase of 8.2% from HKD 224.2 million in the previous year, while the distribution business remained stable at HKD 244.3 million[20]. - The retail segment's profit increased by 300.0% to HKD 14.0 million, compared to HKD 3.5 million in the previous fiscal year[20]. - The overall financial performance improved significantly due to the recovery of the Hong Kong economy starting from the second quarter of 2022[25]. - The profit attributable to the company's owners surged to approximately HKD 27.8 million, a remarkable increase of about 4,533.3% from HKD 0.6 million in the previous year[41]. - The distribution business generated revenue of approximately HKD 244.3 million, slightly up from HKD 244.0 million in the previous year, accounting for about 50.2% of the total revenue[43]. - The retail business's revenue rose to approximately HKD 242.5 million, an increase of about HKD 18.3 million from HKD 224.2 million in the previous year, representing about 49.8% of total revenue[47]. Cost Control and Profit Margins - The company focused on cost control measures to enhance profit margins in its retail operations, alongside successful marketing campaigns that stimulated sales growth[19]. - The gross profit margin improved to approximately 21.6% in 2023 from about 16.5% in 2022, attributed to cost control measures and currency depreciation[67]. - Operating costs decreased to approximately HKD 381.7 million, a reduction of about 2.4% from approximately HKD 391.2 million in the previous year[66]. - The company aims to optimize its cost structure and business model by reviewing lease agreements and controlling operating costs, including labor and rent expenses[62]. - The company is committed to prudent cost control measures to enhance profit margins in its retail operations[47]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.025 per share, resulting in a total dividend payout ratio of approximately 71.9% for the fiscal year[21]. Business Strategy and Development - The company plans to continue its multi-brand development strategy and focus on high-quality products to capture consumer spending driven by the economic recovery in Hong Kong[30]. - The company aims to expand its brand and product portfolio in the distribution business to maintain market competitiveness and leverage opportunities from the economic recovery[30]. - The company will continue to adjust its business model to navigate uncertainties in the challenging economic environment[30]. Corporate Governance - The company has adopted the corporate governance code principles to ensure high standards of corporate governance and protect shareholder interests[77]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence[105]. - The roles of Chairman and CEO are held by the same individual, Mr. Chen, which the board believes enhances agility and efficiency in strategy formulation and execution[105]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and ensure sustainable development[105]. - The board will periodically review its structure and composition to maintain high corporate governance standards[106]. Employee and Workplace Policies - The group employed 692 staff as of March 31, 2023, compared to 609 in 2022, with employee benefit expenses (including director remuneration) amounting to approximately HKD 106.9 million, up from HKD 96.9 million in the previous year[88]. - The company is committed to providing a workplace free from discrimination and harassment, ensuring equal opportunities for employees from diverse backgrounds[199]. - The company has established a comprehensive employee handbook detailing office regulations, benefits, and rules for reference by all employees[200]. - A formal reporting procedure is in place to allow employees to report issues without fear of retaliation or negative evaluation[200]. Environmental, Social, and Governance (ESG) Initiatives - The company reported a commitment to sustainable development, recognizing its role in promoting sustainability during uncertain times[165]. - Significant achievements include a focus on reducing water usage, which was highlighted as a key accomplishment for the fiscal year ending March 31, 2023[166]. - The company aims to support Hong Kong's goal of achieving net-zero carbon emissions by 2050, with a roadmap addressing climate challenges over the next decade[166]. - The company has established a multi-channel communication policy to enhance engagement with shareholders and potential investors, which has been deemed effective for the fiscal year ending March 31, 2023[157]. - The company has established a governance framework to manage ESG-related risks and opportunities effectively[182]. Risk Management and Compliance - The company has implemented a zero-tolerance policy against bribery, extortion, and fraud, promoting ethical conduct across its operations[146]. - The company is committed to ensuring compliance with relevant laws and regulations, as well as monitoring the training and professional development of directors and senior management[136]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, concluding that they are adequate and effective for the fiscal year ending March 31, 2023[143]. Quality Assurance and Product Safety - The company has implemented strict quality assurance measures to ensure compliance with food safety laws and regulations, with zero reported cases of product recalls due to safety and health reasons during the reporting period[193]. - The company has established a quality assurance team to evaluate food ingredients and ensure compliance with safety standards[188].
宾仕国际(01705) - 2023 - 年度财报