Financial Performance - The Group recorded total revenue of approximately HK$196.5 million for the year ended December 31, 2022, representing a significant increase of 340.8% compared to HK$44.6 million in 2021[19]. - Gross profit amounted to approximately HK$38.9 million, a change of 233.3% from a gross loss of approximately HK$29.2 million in 2021[19]. - Loss attributable to owners of the Company was approximately HK$74.3 million, a decrease of 52.3% compared to HK$155.6 million in 2021[19]. - Revenue from package tours reached approximately HK$108.3 million, an increase of 1,300.7% and contributing 55.1% to the Group's total revenue[58]. - Revenue from FIT products and ancillary travel related products and services was approximately HK$19.4 million, representing an increase of 269.9% and contributing 9.9% to total revenue[61]. - Merchandise sales revenue amounted to approximately HK$20.9 million, an increase of 19.6% and contributing 10.7% to total revenue[67]. - Hotel operation revenue for the year amounted to approximately HK$47.9 million, representing an increase of 239.2% compared to HK$14.1 million in 2021[73]. - The gross profit margin improved to 19.8% from -65.5% in 2021, indicating a significant recovery in profitability[75]. - The interest coverage ratio improved to -3.1 times from -12.4 times in 2021, reflecting a decrease in operating loss before finance costs[99]. - The current ratio as of December 31, 2022, was 0.7 times, slightly up from 0.6 times in 2021, indicating improved liquidity[101]. - Total assets as of December 31, 2022, were HK$905,056,000, slightly down from HK$905,115,000 in 2021[159]. - Total liabilities increased to HK$884,587,000 in 2022 from HK$782,821,000 in 2021, indicating a rise of approximately 13.0%[159]. - The gearing ratio, defined as total borrowings over total assets, was 75.1% in 2022, slightly down from 76.6% in 2021, reflecting a marginal improvement in leverage[159]. - The equity attributable to owners of the Company as of December 31, 2022, was HK$350,577,000, showing a slight increase from HK$350,015,000 in 2021[167]. - The earnings per share for the year 2022 was HK$2.79, a significant recovery from a loss of HK$21.65 in 2021[169]. Travel and Tourism Recovery - The Group resumed outbound travel to Japan on June 22, 2022, marking the first tour after the COVID-19 pandemic, which significantly enhanced financial performance[19]. - The Hong Kong government adjusted quarantine measures in August 2022 to a "3+4" model, further stimulating outbound travel demand[24]. - By mid-October 2022, the Group's business for Japan began to grow due to the introduction of visa-free travel for Hong Kong travelers[24]. - The Group partnered with Japanese airlines to operate charter flights to Hokkaido, providing approximately 360 seats during the Christmas and New Year holidays[24]. - The Group resumed outbound package tours in June 2022, with the first tour to Japan attracting significant media attention[25]. - The Group's hotel business benefited from the Japanese government's gradual reopening to inbound tourists, which began in May 2022[68]. - The Group's financial performance improved significantly due to the relaxation of quarantine requirements in Hong Kong and the reopening of Japan to tourists[47]. Operational Adjustments and Strategies - The introduction of the "EGL Market" business and local tours helped mitigate revenue losses during the early part of 2022[23]. - The Group's efforts to enhance customer experience included providing gift boxes with fresh fruits and snacks during quarantine periods for travelers returning from Japan[23]. - The Group plans to cautiously increase human resources and outlet networks to maintain competitive advantage as Hong Kong enters a post-pandemic phase[39]. - The Group aims to explore strategic partnerships and development opportunities to expand its business and revenue sources[39]. - The Group plans to open a new travel agency branch in Kowloon Bay, bringing the total to 6 branches in Hong Kong[149][151]. - The Group will continue to expand its sales network and monitor cash positions to explore additional income sources[150][153]. Employee and Corporate Governance - The total number of employees increased to 294 as of December 31, 2022, from 254 as of December 31, 2021, with a notable rise in full-time leaders and guides from 22 to 56[143]. - Employee remuneration packages are regularly reviewed based on market information and individual performance, with no significant changes reported during the year[145]. - The Group has maintained over 190 employees during the peak of the epidemic, representing more than 30% of its original workforce[146]. - The Group is committed to improving its corporate governance and addressing environmental, social, and ethical responsibilities[200]. Environmental and Sustainability Efforts - The Group has implemented internal recycling programs for consumables such as toner, cartridges, and paper to minimize environmental impact[200]. - Recycled paper has been used as printing materials, contributing to sustainability efforts[200]. - The Group completed the upgrade of electricity systems to achieve energy savings in the workplace[200]. Risks and Challenges - The Group's revenue is primarily derived from travel-related products and services in Hong Kong and Macau, making it vulnerable to economic downturns in these regions[189]. - The Company faces significant risks from natural disasters, terrorism, and outbreaks of contagious diseases, which could adversely affect customer demand for travel-related services[188]. - The competitive landscape in the hospitality industry in Japan poses challenges for the Company's hotel operations, particularly in Osaka and Okinawa[195]. - The Company has highlighted the impact of COVID-19 on its operations and the ongoing uncertainties in the market[186].
东瀛游(06882) - 2022 - 年度财报