Financial Performance - Total merchandise transaction value for the fiscal year 2022/23 was approximately HKD 929 million, representing a year-on-year growth of about 6.3% from HKD 874 million in 2021/22[10]. - Revenue for the fiscal year 2022/23 was HKD 855,076,000, representing an increase from HKD 790,054,000 in the previous year[24]. - Adjusted net profit for the fiscal year was HKD 23,036,000, with an adjusted net profit margin of 2.7%, down from 3.3% in the previous year[24]. - Gross profit for the fiscal year was HKD 131,200,000, with a gross margin of 15.3%, slightly down from 15.5% in the previous year[24]. - The company experienced a slight decline in adjusted net profit due to increased compliance-related operating expenses and investments in long-term system development[30]. - Adjusted profit for the fiscal year 22/23 was HKD 23.036 million, compared to HKD 26.162 million in the previous year[101]. - Net profit for FY22/23 was approximately HKD 6.3 million, a turnaround from a net loss of approximately HKD 225,000 in FY21/22, with net profit margin increasing from approximately 0.0% to 0.7%[122]. - Other income increased from approximately HKD 28,000 in the fiscal year 21/22 to about HKD 6.2 million in 22/23, primarily due to government subsidies and increased interest income[89]. Dividends and Equity - The company declared a final dividend of HKD 0.024 per share for the fiscal year 2022/23, totaling approximately HKD 12 million, pending shareholder approval[11]. - Total equity amounted to HKD 264,861 thousand, up from HKD 78,746 thousand in 2021/22[6]. - Cash position at the end of the fiscal year 2022/23 was HKD 211,266 thousand, an increase from HKD 126,256 thousand in 2021/22[6]. Customer Engagement and Experience - User experience ratings averaged between 4.5/5 and 4.9/5 based on approximately 6,000 customer feedbacks, indicating strong customer satisfaction[17]. - The company aims to improve communication with stakeholders by publishing quarterly complaint statistics to enhance user experience[17]. - The average transaction value per customer increased to HKD 1,950, up from HKD 1,887 in the previous year[27]. - The registered member count increased to 961,000, compared to 775,000 in the previous year[27]. - The company’s registered membership exceeded 1,000,000, reflecting strong customer engagement and loyalty[73]. Strategic Initiatives and Partnerships - A strategic partnership was established with a subsidiary of Japan City to provide same-day pickup services at 30 locations, enhancing last-mile delivery capabilities[15]. - The company launched a strategic partnership with HSBC during the shopping festival, resulting in over 200% year-on-year sales growth during that period[71]. - The company has observed a growing trend in live streaming sales and is seeking partnerships with major live streaming resources to enhance performance[35]. - The company is exploring strategic acquisitions targeting small e-commerce platforms and upstream/downstream companies or brands to enhance market share and customer base[134]. Business Development and Growth Potential - The company anticipates significant growth potential in self-operated categories and cross-border e-commerce, with plans for expansion when market conditions are favorable[18]. - The company plans to launch a shopping app, with significant investment estimated at several million HKD, focusing on system infrastructure upgrades and merchant partnership models[36]. - The company introduced a 3P business model to attract quality third-party merchants to its e-commerce platform, expanding product offerings beyond its 1P model[73]. - The company is confident in capturing new opportunities in the market as consumer behavior adjusts post-pandemic[38]. - The company is actively deploying fast commerce services to connect instant supply in physical retail with the convenience of online shopping, including strategic partnerships for last-mile delivery[158]. Operational Efficiency and Cost Management - Operating expenses for the fiscal years 21/22 and 22/23 were maintained at approximately 11.6% and 13.1% of total revenue, respectively[58]. - The company has implemented strict cost control measures while sustainably expanding its business scale and increasing revenue[58]. - The company has faced challenges due to talent loss in Hong Kong, impacting recruitment and operational costs, but maintains a streamlined structure that leverages automation to mitigate these issues[63]. Market Trends and Future Outlook - The company is optimistic about the recovery of the retail sector in Hong Kong, expecting a continued upward trend despite the need for time to fully recover to pre-pandemic levels[158]. - The Greater Bay Area has a population of approximately 86.7 million and a GDP exceeding $1.95 trillion, presenting significant market potential for the company[189]. - The total retail sales value in Hong Kong reached approximately HKD 349.9 billion in 2022, with sales of electrical and other classified durable goods amounting to about HKD 42.8 billion, highlighting significant growth potential for the company's 1P business model[134]. Environmental, Social, and Governance (ESG) Initiatives - The board is responsible for overseeing the company's environmental, social, and governance (ESG) strategies and ensuring compliance with relevant regulations[179]. - The company will regularly review and adjust its ESG policies to meet stakeholder expectations and enhance sustainability performance[186]. - The company collaborates with local charities to support community initiatives, including a program for children from low-income families to learn about organic farming[176]. - The company aims to monitor and align waste emissions and energy consumption with business growth by the fiscal year 26/27[182].
友和集团(02347) - 2023 - 年度财报