Financial Performance - For the fiscal year ended April 30, 2022, CEC International Holdings Limited reported total revenue of HKD 2,008,967,000, a decrease of 4.5% from HKD 2,103,529,000 in 2021[1] - The gross profit for the same period was HKD 682,968,000, representing an increase of 7.8% compared to HKD 633,512,000 in the previous year[1] - Operating profit increased slightly to HKD 65,533,000, up from HKD 64,328,000, reflecting a growth of 1.9%[1] - The net profit attributable to equity holders of the company was HKD 39,884,000, a significant increase of 23.5% from HKD 32,324,000 in 2021[1] - Basic and diluted earnings per share rose to HKD 5.99, compared to HKD 4.85 in the previous year, marking a growth of 23.5%[1] - Total annual profit for 2022 was HKD 39,884 thousand, an increase of 23.5% compared to HKD 32,324 thousand in 2021[12] - The group's profit attributable to shareholders was HKD 39,884,000, representing a growth of about 23% compared to HKD 32,324,000 in 2021[32] Assets and Liabilities - Total assets as of April 30, 2022, were HKD 919,516,000, a decrease from HKD 983,418,000 in 2021[4] - Total liabilities decreased to HKD 419,863,000 from HKD 515,050,000, indicating a reduction of 18.4%[4] - The total equity attributable to equity holders increased to HKD 499,653,000, up from HKD 468,368,000, reflecting a growth of 6.1%[4] - Total assets decreased to HKD 919,516 thousand in 2022 from HKD 983,418 thousand in 2021[14] - Total liabilities decreased to HKD 419,863 thousand in 2022 from HKD 515,050 thousand in 2021[14] - The group’s accounts payable decreased to HKD 95,695,000 in 2022 from HKD 106,701,000 in 2021[28] Segment Performance - CEC International Holdings Limited has three reportable segments: retail business, electronic component manufacturing, and investment property holdings, which are regularly reviewed by management for performance assessment[11] - Retail business revenue for 2022 was HKD 1,922,315 thousand, a decrease of 5.1% from HKD 2,025,544 thousand in 2021[12] - Operating profit for the retail business in 2022 was HKD 98,202 thousand, down 36.2% from HKD 153,891 thousand in 2021[12] - The electronic components manufacturing segment reported revenue of HKD 85,735,000, an increase of 11.2% from HKD 77,131,000 in 2021[41] - The group’s gross profit for the retail segment was HKD 676,619,000, with a gross margin of 35.2%, an improvement from 32.8% in the previous year[34] Cash Flow and Expenditures - Capital expenditure for 2022 was HKD 18,054 thousand, an increase of 33.5% from HKD 13,487 thousand in 2021[12] - The group’s bank balance and cash as of April 30, 2022, was HKD 100,171,000, slightly down from HKD 101,752,000 in 2021[43] - Total borrowings decreased significantly by 85.8% to HKD 18,386,000 from HKD 129,760,000 in 2021[43] - The net cash inflow for the year was HKD 8,219,000, compared to HKD 7,019,000 in 2021[49] - Current liabilities net value dropped to HKD 5,102,000, down from HKD 53,408,000 in 2021, reflecting improved liquidity[51] Operational Insights - The company received government subsidies of HKD 186 thousand in 2022, compared to HKD 39,773 thousand in 2021 under the COVID-19 relief programs[17] - The net loss from fair value of investment properties was HKD 962 thousand in 2022, an improvement from a loss of HKD 1,426 thousand in 2021[18] - Total expenses for sales, distribution, and administrative costs decreased to HKD 1,945,824 thousand in 2022 from HKD 2,078,375 thousand in 2021[20] - Interest expenses on bank loans decreased to HKD 2,941 thousand in 2022 from HKD 5,921 thousand in 2021[20] - Retail segment sales and distribution costs increased by 3.6% to HKD 478,245,000 in 2022, compared to HKD 461,350,000 in 2021[38] Corporate Governance and Future Outlook - The board believes that good corporate governance is essential for maintaining investor confidence and has adopted the corporate governance code[59] - The management anticipates that the retail business will face more unknown challenges due to global inflation and extreme currency fluctuations[55] - The company plans to focus on finding suitable retail locations in commercial areas as the economy recovers from the pandemic[57] - The company did not repurchase any of its listed shares during the fiscal year ending April 30, 2022[58] - The company’s auditor confirmed that the financial statements for the year ending April 30, 2022, are consistent with the audited financial reports[64] Employee and Store Metrics - The group employed approximately 1,500 employees as of April 30, 2022, a decrease from 1,600 in 2021[54] - The total number of stores decreased to 172 as of April 30, 2022, down from 174 in 2021, with 9 new openings and 11 closures[37] - Membership card usage remained stable, with approximately 550,000 cards used weekly and 1.4 million cards used every five weeks[40] Upcoming Events - The annual general meeting is scheduled for September 29, 2022[66] - The company will publish its annual report by the end of August 2022, which will include all required information as per listing rules[67]
CEC INT'L HOLD(00759) - 2022 Q4 - 年度业绩