Financial Performance - Total revenue for the fiscal year ended March 31, 2022, was HKD 568,056,000, representing an increase from HKD 379,023,000 in the previous year, which is a growth of approximately 50%[8] - The profit before tax for the same period was HKD 27,339,000, compared to HKD 24,758,000 in the prior year, indicating an increase of about 10%[8] - The net profit attributable to the owners of the company was HKD 26,381,000, up from HKD 24,967,000 in the previous year, reflecting a growth of approximately 5%[8] - In the fiscal year 2022, the company recorded a total revenue of HKD 568,056,000, representing a growth of 49.9% compared to fiscal year 2021[35] - The number of customers served in the restaurants increased by 529,600 or 24.7%, totaling 2,677,894 customers in fiscal year 2022[27] - The average spending per customer rose from HKD 176.4 in fiscal year 2021 to HKD 212.1 in fiscal year 2022[27] - The Japanese cuisine segment achieved revenue of HKD 296,621,000, with an average spending of HKD 222.0 per customer[27] - The Chinese cuisine segment reported revenue of HKD 148,488,000, with an average spending of HKD 248.1 per customer[27] - The Vietnamese/Southeast Asian cuisine segment generated revenue of HKD 41,208,000 with an average spending of HKD 120.4 per customer[27] - The average daily sales for the Japanese cuisine segment reached HKD 907,174, while the Chinese cuisine segment reached HKD 493,996[27] - Employee costs increased by 57.3% to HKD 171,016,000, accounting for 30.1% of total revenue, up from 28.7% in the previous year[42] - Material and consumable costs rose by 49.6% to HKD 172,628,000, maintaining a stable percentage of 30.4% of total revenue[42] - Net profit attributable to the company’s owners for the fiscal year 2022 was approximately HKD 26,381,000, an increase of 5.7% from the previous year[48] - Adjusted net profit, after accounting for government subsidies and listing expenses, increased by 235.8% to approximately HKD 8,383,000[49] Business Expansion and Operations - The company opened ten new restaurants during the year, including new brands targeting mid-to-high consumer levels, aiming to diversify its customer base[14] - The company plans to continue exploring potential locations for further business expansion in response to the evolving market conditions post-COVID-19[14] - The group opened nine new restaurants during the fiscal year ending March 31, 2022, including locations in Tsuen Wan, Shanghai, and Tsim Sha Tsui[18] - The total number of restaurants as of March 31, 2022, was 38, an increase from 36 as of December 31, 2021[21] - The group closed five restaurants during the fiscal year, including locations in Kwai Fong and Central, due to lease expirations and low customer traffic[19] - The group plans to open new restaurants in the third quarter of 2022 and the second quarter of 2023, with confirmed leases for locations in Mong Kok and Tung Chung[24] - The company expects its Shanghai operations to contribute positively after the temporary closure due to COVID-19 restrictions[13] Operational Efficiency and Technology - The company has implemented a phased introduction of an automated ordering system to alleviate employee workload and enhance operational efficiency[13] - The company is focused on enhancing customer experience and operational efficiency through new strategies and technology[34] - The company is committed to optimizing its operational model to adapt to changing consumer patterns and enhance customer dining experiences[14] - The company aims to create higher revenue per employee by reallocating staff to more efficient restaurants[19] Employee and Management - The company has introduced several senior management talents to enhance team building and improve organizational structure for long-term growth[13] - The management team highlighted the resilience and dedication of employees during the pandemic as a core value of the group[16] - The group expressed gratitude to employees and partners for their support during challenging times, emphasizing the importance of teamwork[16] - As of March 31, 2022, the company employed a total of 790 staff, with around 88% based in Hong Kong[134] - The company has a strong management team with extensive experience in the restaurant and hospitality industry[76][79] - The company encourages employees to maintain a work-life balance and provides a supportive work environment to maximize their contributions[177] Corporate Governance and Compliance - The company is committed to compliance with relevant laws and regulations affecting its operations[84] - The board of directors has confirmed the independence of all independent non-executive directors, ensuring compliance with GEM listing rules[95] - The company has established service agreements for its executive directors, effective from January 17, 2022, for a term of three years[95] - The company has maintained a high level of corporate governance to attract investment and protect shareholder rights[141] - The company has adopted the GEM Listing Rules as the standard code for securities trading by directors, confirming compliance for the entire year ending March 31, 2022[197] - The company has mechanisms in place for employees to report concerns regarding potential misconduct in financial reporting and internal controls[194] Financial Management and Dividends - The proposed final cash dividend is HKD 0.016 per share, down from HKD 0.04 per share in 2021, subject to shareholder approval[55] - The estimated total dividend for the fiscal year 2022 is HKD 21,668,000, with a payout ratio of 82.1% based on the profit attributable to shareholders of approximately HKD 26,381,000[56] - The company has adopted a dividend policy to pay annual dividends at a rate not less than 50% of the profit attributable to the owners of the company[172] - The company received government subsidies totaling approximately HKD 10,150,000 for the fiscal year 2022, compared to HKD 32,000,000 in the previous year[41] - The company anticipates receiving approximately HKD 14,800,000 in government subsidies for the months of May, June, and July 2022, pending approval[41] Risk Management - The company has implemented various risk management guidelines and procedures, with the board reviewing the overall effectiveness of the risk management and internal control systems at least annually[191] - The internal audit department and senior management assess the effectiveness of the risk management and internal control systems, reporting findings to the Audit Committee[190] - The board is responsible for overseeing the company's risk management and internal control systems, ensuring they are designed to manage business risks effectively[190] - The company faces potential risks and uncertainties as outlined in the financial statements notes[85] Shareholder Information - The company reported significant ownership concentration, with Mr. Huang and Ms. Chan each holding 260,302,000 shares, representing 67.273% of the total shares[99] - IKEAB Limited, which is controlled by Mr. Huang and Ms. Chan, holds 250,318,000 shares, accounting for 64.693% of the total shares[106] - The company does not foresee any tax liabilities on dividends distributed to shareholders under current Hong Kong tax regulations[91] - The company has not been informed of any major shareholders holding any short positions in its shares as of March 31, 2022[104] Stock Options and Employee Incentives - The company granted 3,690,000 share options to eligible employees, representing approximately 0.95% of the total issued share capital as of the grant date[58] - The fair value of granted stock options was approximately HKD 358,000, or HKD 0.0971 per option, to be amortized over the vesting period[119] - The company has a total of 40,000,000 stock options available for grant under the stock option plan, accounting for approximately 10.3% of the issued share capital[116] - The exercise price for stock options granted in 2021 was set at HKD 0.90[116] - A total of 3,690,000 stock options were granted during the fiscal year ending March 31, 2022[118] Community Engagement - The company made charitable and other donations amounting to HKD 214,000 during the fiscal year ending March 31, 2022[128]
尝高美集团(08371) - 2022 - 年度财报