Financial Performance - For the year ended December 31, 2023, revenue was approximately HKD 172.5 million, a decrease of 26.1% compared to approximately HKD 233.3 million for the year ended December 31, 2022[3]. - Gross profit for the year ended December 31, 2023, was approximately HKD 25.1 million, down 54.2% from approximately HKD 54.8 million for the previous year[3]. - The company's loss attributable to owners for the year ended December 31, 2023, was approximately HKD 27.9 million, a decrease of 39.2% compared to approximately HKD 45.9 million for the year ended December 31, 2022[3]. - Basic and diluted loss per share for the year ended December 31, 2023, was HKD 3.17, compared to HKD 6.07 for the previous year[5]. - The company reported an operating loss of approximately HKD 26.8 million for the year ended December 31, 2023, compared to an operating loss of approximately HKD 43.9 million for the previous year[4]. - Total revenue decreased by approximately 26.1% to about HKD 172.5 million for the reporting year[41]. - Gross profit was approximately HKD 25.1 million, a decrease of 54.2% compared to the previous year[41]. - Net loss for the year was approximately HKD 27.9 million, a reduction of about HKD 45.2 million from the previous year's loss[41]. Dividend and Equity - The board of directors decided not to declare a final dividend for the year ended December 31, 2023[3]. - The company did not declare or recommend any dividends for the year ended December 31, 2023[27]. - The total equity attributable to owners decreased to HKD 84.8 million as of December 31, 2023, from HKD 112.7 million in the previous year[8]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 98.1 million as of December 31, 2023, down from HKD 120.2 million in the previous year[7]. - The company's cash and bank balances decreased to HKD 10.3 million as of December 31, 2023, from HKD 18.5 million a year earlier[7]. - Trade receivables amounted to HKD 2.28 million, down from HKD 8.72 million in the previous year[31]. - The total amount of receivable loans was HKD 5.8 million, with an annual interest rate of 8%[51]. - The expected credit loss provision for receivable loans was approximately HKD 10.2 million, an increase from HKD 5.5 million in 2022[56]. - The group's cash and cash equivalents totaled approximately HKD 10.3 million, liabilities amounted to approximately HKD 33.0 million, and total equity was approximately HKD 84.8 million, compared to HKD 18.5 million, HKD 27.9 million, and HKD 112.7 million respectively in 2022[72]. Sales and Revenue Breakdown - Sales of handbags contributed HKD 168,285,000, down from HKD 187,740,000 in the previous year, representing a decline of approximately 10%[22]. - Sales of natural fragrances, skincare products, and fashion accessories dropped significantly to HKD 4,240,000 from HKD 45,540,000, a decrease of about 91%[22]. - Handbags accounted for over 97.6% of total revenue, with sales from unused products generating approximately HKD 131.7 million, representing 76.3% of total revenue[59]. Expenses - Sales expenses for the year ended December 31, 2023, were approximately HKD 28.9 million, a decrease of 39.9% from approximately HKD 48.1 million in the previous year[3]. - Administrative and other operating expenses were approximately HKD 17.1 million, a decrease of about HKD 12.6 million year-on-year, accounting for 9.9% of revenue[68]. - Financing costs reached approximately HKD 1.3 million, an increase of HKD 0.3 million compared to the previous year[69]. Market and Economic Conditions - The estimated retail sales value in December 2023 was HKD 36.3 billion, an increase of 7.8% compared to December 2022[40]. - The unemployment rate in December 2023 was 2.9%, indicating an improvement in the local labor market[40]. Governance and Compliance - The group has adopted the corporate governance code and has complied with all applicable provisions during the reporting year, except for a few instances of short notice for board meetings[83]. - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[89]. - The company is focused on maintaining compliance with the Hong Kong Stock Exchange regulations[89]. Future Outlook - The company aims to enhance capital utilization and generate additional investment returns from idle funds[44]. - The company has maintained a prudent investment approach due to recent volatility in the Hong Kong financial market[44]. - The report will include detailed financial data and performance metrics for the fiscal year[89].
米兰站(01150) - 2023 - 年度业绩