Financial Performance - Revenue for the year ended December 31, 2022, was $8,970,228 thousand, representing a 5.12% increase from $8,533,337 thousand in 2021[2] - The recurring profit attributable to shareholders was $291,874 thousand, a significant increase of 363.13% compared to $63,022 thousand in the previous year[2] - The total profit attributable to shareholders reached $296,347 thousand, up 157.53% from $115,072 thousand in 2021[2] - Basic earnings per share increased to 18.41 cents, a rise of 157.48% from 7.15 cents in the prior year[2] - Total comprehensive income for the year was $169,665 thousand, down from $239,783 thousand in 2021[5] - The company reported a total of $106,297 thousand in income tax expenses for the year, compared to $63,159 thousand in 2021[18] - The company recorded a significant increase in recurring profit attributable to shareholders, rising 363.1% to $291.9 million[42] - Profit attributable to the owners of the company increased by 157.5% to $296.3 million, with manufacturing business profit growing by 257.0% to $288.1 million[32] Revenue Breakdown - Revenue from manufacturing business was $6,203,137 thousand, up 26.2% from $4,914,043 thousand in the previous year[13] - Retail business revenue decreased to $2,767,091 thousand, down 23.6% from $3,619,294 thousand in 2021[13] - Revenue from sports/outdoor shoes was $4,890,553 thousand, a 30.0% increase from $3,762,196 thousand in 2021[14] - Revenue from the United States was $2,043,360 thousand, an increase of 20.8% from $1,691,480 thousand in 2021[16] - Revenue from China decreased to $3,646,284 thousand, down 18.1% from $4,452,730 thousand in the previous year[16] - Major customer A contributed $2,202,664 thousand in revenue, up 25.4% from $1,755,185 thousand in 2021[18] Assets and Liabilities - Non-current assets totaled $3,791,896 thousand, a decrease from $4,118,673 thousand in the previous year[6] - Current assets decreased to $4,143,525 thousand from $4,519,411 thousand in 2021[7] - Total liabilities decreased to $3,289,096 thousand from $3,933,633 thousand in the previous year[7] - The net asset value attributable to shareholders increased to $4,189,711 thousand from $4,098,458 thousand in 2021[7] - Non-current assets in China decreased to $1,092,324 thousand from $1,301,736 thousand in the previous year[17] Dividends - The proposed final dividend was increased to HKD 0.70, a 250.00% increase from HKD 0.20 in the previous year[2] - The company declared a final dividend of HKD 0.70 per share for the year ended December 31, 2022, up from HKD 0.20 per share in 2021, totaling approximately HKD 1,127,043,000[21] - The board declared a final dividend of HK$0.70 per share for 2022, up from HK$0.20 per share in 2021[52] Expenses and Costs - Employee benefits expenses increased to $2,262,412,000 in 2022 from $2,136,352,000 in 2021, reflecting a rise of approximately 5.9%[19] - The total research and development expenses for 2022 were $189,742,000, slightly up from $185,430,000 in 2021[19] - The inventory provision change for 2022 was $11,286,000, compared to $5,031,000 in 2021, indicating an increase in inventory-related costs[20] - Accounts payable and other payables decreased to $426,930,000 in 2022 from $648,527,000 in 2021, showing a reduction of approximately 34%[25] - The main material costs totaled $2,368.2 million, representing 46.8% of total sales costs, which increased by 21.8% year-over-year[40] Cash Flow and Capital Expenditure - Cash generated from operating activities was $907.9 million, significantly up from $463.1 million in the previous year, with free cash flow reaching $703.6 million[44] - The group's total capital expenditure for 2022 was $204.3 million, a decrease from $286.0 million in 2021, with manufacturing capital expenditure at $158.0 million[47] - The capital expenditure for the retail business dropped to $46.3 million in 2022 from $70.1 million in 2021, aligning with the channel optimization strategy[47] Strategic Initiatives - The group maintains an optimistic long-term outlook for its manufacturing business despite challenges such as inflation and rising interest rates impacting global demand visibility[56] - The group plans to actively manage its supply chain and production capacity to balance demand and labor supply amid uncertain short-term demand for footwear[56] - The group aims to diversify its manufacturing capacity in regions like Indonesia to support sustainable growth when demand recovers[56] - The implementation of a new SAP ERP system and real-time data applications is part of the group's long-term digital transformation strategy to achieve operational excellence[57] - The group is focused on enhancing its growth strategy and digital transformation to strengthen its omnichannel presence and upgrade physical stores[57] Employee and Governance - The group employed approximately 310,000 employees as of December 31, 2022, a decrease of 2.3% from about 317,200 employees a year earlier[53] - The company has adopted the principles of the corporate governance code and complied with all applicable provisions during the fiscal year ending December 31, 2022[59] - The company will hold its annual general meeting on May 25, 2023, to discuss various corporate matters, including the re-election of directors[64]
裕元集团(00551) - 2022 - 年度业绩