佐丹奴国际(00709) - 2023 - 年度业绩

Financial Performance - The company's revenue increased by 3.8% at constant exchange rates, reaching HKD 3.873 billion, up from HKD 3.799 billion in 2022, with a 1.9% increase when converted to HKD [2]. - Net profit attributable to shareholders rose by 28.7% to HKD 345 million, up from HKD 268 million in 2022 [2]. - Total revenue grew by 1.9% to HKD 3.873 billion in 2023, up from HKD 3.799 billion in 2022, with a fixed exchange rate growth of 3.8% [33]. - The company reported a profit before tax of HKD 508 million, indicating a stable operational performance despite market challenges [13]. - Operating profit for 2023 was HKD 1,630 million, compared to HKD 1,594 million in 2022, reflecting an increase of 2.26% [21]. - The company recorded a net profit of HKD 345 million in 2023, up from HKD 268 million in 2022, reflecting resilience despite ongoing geopolitical conflicts and high inflation [58]. Profitability Metrics - Gross profit margin improved by 1.9 percentage points, with retail gross margin at 60.6% compared to 59.5% in 2022 [2]. - The company’s equity decreased to HKD 2,312 million from HKD 2,522 million, reflecting a decline of approximately 8.3% [9]. - The total income tax expense for the year was HKD 119 million, up from HKD 107 million in 2022, indicating an increase of approximately 11.21% [24]. - The company reported a net current asset position of HKD 639 million, down from HKD 890 million in the previous year, indicating a decline of approximately 28.2% [9]. Dividends and Shareholder Returns - The proposed final dividend is HKD 0.135 per share, with a total annual dividend of HKD 0.305 per share, representing a 29.8% increase from HKD 0.235 per share in 2022 [2]. - The proposed final dividend for 2023 is HKD 0.135 per share, down from HKD 0.150 per share in 2022, resulting in a total annual dividend of HKD 0.305 per share, an increase of 29.8% [57]. Inventory and Asset Management - Inventory turnover days decreased by 27 days to 108 days, with year-end inventory at HKD 474 million, down from HKD 612 million in 2022 [2]. - The company’s inventory decreased to HKD 474 million in 2023 from HKD 612 million in 2022, with inventory turnover days reduced to 108 days [54]. - Total assets decreased to HKD 3,856 million in 2023 from HKD 4,008 million in 2022, a decline of approximately 3.8% [9]. - Current assets totaled HKD 1,735 million, down from HKD 1,977 million, representing a decrease of about 12.2% [9]. Operational Efficiency - Operating expenses as a percentage of revenue remained stable at 47.2%, reflecting ongoing cost control measures [2]. - The company maintained a stable operating expense ratio at 47.2% of revenue, reflecting ongoing cost control measures [31]. - Cash and bank balances (after deducting bank loans) stood at HKD 905 million as of December 31, 2023, compared to HKD 948 million in 2022 [2]. - Cash and bank balances (net of bank loans) at the end of 2023 were HKD 905 million, a decrease of 4.5% from HKD 948 million in 2022 [32]. Market and Sales Performance - Revenue from the mainland China segment reached HKD 664 million, contributing to a total revenue of HKD 3,873 million for the year [14]. - Retail and distribution segment sales for 2023 amounted to HKD 3,630 million, up from HKD 3,499 million in 2022, indicating a growth of approximately 3.75% [16]. - The sales in Hong Kong and Macau reached HKD 623 million, compared to HKD 586 million in 2022, showing an increase of about 6.31% [16]. - Revenue from Greater China was HKD 1,727 million, contributing 44.6% to total revenue, with a slight increase of 0.4% from 2022 [34]. - Revenue from Southeast Asia and Australia was HKD 1,471 million, maintaining a contribution of 38.0% to total revenue, with a 1.9% increase [34]. - Online sales in mainland China and South Korea accounted for nearly 55% and 40% of total sales, respectively, with satisfactory profit performance reported [58]. Strategic Initiatives - The company continues to focus on pricing power rather than volume, indicating a strategic shift in its operational approach [2]. - The company plans to expand its retail and distribution operations in Southeast Asia and the Gulf Cooperation Council regions [12]. - The company plans to continue its strategy of pricing, product innovation, store upgrades, and marketing investments to enhance brand reputation [58]. - The company expanded its sales points in India to 50 in 2023, indicating a positive momentum in its strategy to penetrate developing markets [58]. Staffing and Employment - As of December 31, 2023, the company employed approximately 6,500 staff, an increase from 6,200 in 2022, reflecting its commitment to competitive compensation and talent retention [59]. Other Financial Metrics - Interest income increased to HKD 23 million in 2023 from HKD 12 million in 2022, representing a growth of 91.67% [20]. - Financing costs rose to HKD 40 million in 2023 from HKD 25 million in 2022, an increase of 60% [22]. - The company experienced a 6.3% increase in other income and gains, totaling HKD 19 million in 2023 [46].