Financial Performance - For the fiscal year ending December 31, 2023, the total revenue of Q P Group Holdings Limited was approximately HKD 1,039.2 million, a decrease of about 18.6% compared to the fiscal year 2022[3]. - The net profit attributable to equity shareholders for the fiscal year 2023 was approximately HKD 80.1 million, representing a decrease of about 36.8% from the fiscal year 2022[8]. - Basic earnings per share for the fiscal year 2023 were approximately HKD 15.06, down from HKD 23.84 in the fiscal year 2022[9]. - Operating profit for the fiscal year 2023 was HKD 90.4 million, a decline from HKD 143.0 million in the previous year[4]. - The company reported a total comprehensive income of HKD 58.1 million for the fiscal year 2023, compared to HKD 71.0 million in 2022[11]. - Gross profit for the fiscal year 2023 was HKD 356.1 million, compared to HKD 416.8 million in fiscal year 2022, representing a decrease of approximately 14.5%[51]. - The net profit for the fiscal year 2023 was HKD 78.3 million, down from HKD 126.8 million in fiscal year 2022, indicating a decline of approximately 38.2%[51]. - The profit attributable to equity shareholders decreased by about 36.8% from HKD 126.8 million in FY2022 to HKD 80.1 million in FY2023, with a net profit margin dropping from approximately 9.9% to 7.5%[105]. Revenue Breakdown - Revenue from original equipment manufacturer (OEM) sales accounted for 81.4% of total revenue, while online sales contributed 18.6%[3]. - OEM sales accounted for 81.4% of total revenue in FY2023, totaling HKD 845.8 million, while website sales contributed 18.6% with HKD 193.4 million, maintaining similar levels compared to FY2022[109]. - Sales to the United States accounted for HKD 695,088,000, down 19.7% from HKD 866,131,000 in the previous year[30]. - The company's total revenue from external customers in China was HKD 540,596,000, slightly up from HKD 536,893,000 in 2022[30]. - Sales in the U.S. market accounted for 66.9% of total revenue in FY2023, totaling HKD 695.1 million, while European sales contributed 16.7% with HKD 173.9 million[110]. Expenses and Costs - Total costs, including cost of sales and administrative expenses, amounted to HKD 967,360,000, down from HKD 1,155,253,000 in 2022[35]. - Research and development expenses for 2023 were approximately HKD 28,036,000, a decrease from HKD 40,839,000 in 2022[34]. - Sales and distribution expenses decreased by approximately 8.0% from about HKD 110.4 million in FY2022 to about HKD 101.6 million in FY2023, primarily due to improved delivery strategies for online sales[144]. - Administrative expenses slightly decreased by about 1.4% from approximately HKD 185.2 million in FY2022 to about HKD 182.7 million in FY2023, remaining stable compared to the previous fiscal year[144]. - The group's sales cost decreased by approximately 20.5% from about HKD 859.6 million in FY2022 to about HKD 683.1 million in FY2023, primarily due to a reduction in procurement orders from OEM customers[112]. Assets and Liabilities - The total assets of the company as of December 31, 2023, were HKD 1,090.7 million, down from HKD 1,179.2 million in 2022[18]. - The total liabilities decreased to HKD 255.9 million in 2023 from HKD 336.4 million in 2022[7]. - The total borrowings as of December 31, 2023, were approximately HKD 47.9 million, a significant decrease from HKD 116.3 million as of December 31, 2022[73]. - The group maintained a healthy liquidity position with total borrowings and lease liabilities of approximately HKD 50.8 million as of December 31, 2023, down from approximately HKD 119.2 million as of December 31, 2022[120]. - As of December 31, 2023, net current assets were approximately HKD 204.3 million, down from about HKD 253.8 million as of December 31, 2022[147]. Dividends - The company proposed a final dividend of HKD 0.08 per share for the fiscal year 2023, compared to HKD 0.11 per share in the fiscal year 2022[9]. - The company declared an interim dividend of HKD 0.02 per share for FY2023, down from HKD 0.03 per share in FY2022, with a proposed final dividend of HKD 0.08 per share compared to HKD 0.11 per share in FY2022[90]. Operational Strategies - The company plans to enhance operational efficiency by integrating production bases and optimizing production line layouts and processes[82]. - The company aims to leverage the advantages of its new factories in Huizhou and Vietnam to strengthen its OEM business production capabilities[82]. - The group plans to enhance its e-commerce platform Q P Market Network (QPMN) and expand its product offerings to increase market share in the online sales business[134]. - The group is actively pursuing new business opportunities and diversifying its OEM operations to adapt to the challenging market environment[133]. - The group has implemented various business strategies, including digital marketing and participation in overseas exhibitions, to maintain competitiveness in the online sales sector[131]. Governance and Management - The company has adopted the corporate governance code as per the listing rules, ensuring high levels of governance and accountability[180]. - The board believes that the current arrangement of having the same individual serve as both Chairman and CEO provides strong and consistent leadership[199]. Other Key Information - The company has not adopted the revised Hong Kong Financial Reporting Standards for the reporting period ending December 31, 2023, as they are not mandatory[26]. - There have been no significant events affecting the group since the end of the fiscal year 2023[198]. - The company’s inventory write-down provision was HKD 1,433,000 in 2023, significantly lower than HKD 10,443,000 in 2022[35]. - The fair value gain from derivative financial instruments was approximately HKD 1.3 million in FY2023, compared to a loss of about HKD 19.9 million in FY2022[162]. - The total employee count as of December 31, 2023, was 2,677, an increase from 2,280 as of December 31, 2022[196]. - The total employee cost for the fiscal year 2023 was approximately HKD 343.9 million, compared to HKD 356.2 million in the fiscal year 2022[196].
隽思集团(01412) - 2023 - 年度业绩