Financial Performance - Revenue for 2023 was HKD 284,101,000, a decrease of 5.4% from HKD 300,163,000 in 2022[3] - The company reported a net loss of HKD 9,464,000 for 2023, compared to a profit of HKD 4,617,000 in 2022[4] - Basic loss per share for 2023 was HKD (1.80), compared to earnings of HKD 2.09 per share in 2022[4] - The company reported a loss attributable to shareholders of HKD 4,640,000 in 2023, compared to a profit of HKD 5,378,000 in 2022[23] - The company reported a loss attributable to shareholders of approximately HKD 4.6 million, compared to a profit of HKD 5.4 million in the same period of 2022[34] - The company recorded a loss of HKD 9.5 million in 2023, compared to a profit of HKD 4.6 million in 2022, primarily due to increased employee costs and promotional expenses related to establishing live sales in mainland China[63] Revenue Breakdown - Self-operated retail revenue decreased to HKD 202,341,000 in 2023 from HKD 215,910,000 in 2022, a decline of 6.3%[11] - E-commerce sales increased significantly to HKD 44,683,000 in 2023, up 53.9% from HKD 29,035,000 in 2022[11] - Revenue from distribution business fell to HKD 17,653,000 in 2023, down 13.5% from HKD 20,504,000 in 2022[11] - Revenue from other sales decreased to HKD 19,424,000 in 2023, a decline of 44% from HKD 34,714,000 in 2022[11] - Revenue from Hong Kong and Macau was HKD 202,994,000 in 2023, down 13.8% from HKD 235,366,000 in 2022[14] - Revenue from China increased to HKD 80,631,000 in 2023, up 41.9% from HKD 56,937,000 in 2022[14] Assets and Liabilities - Total assets decreased by 3.8% to HKD 466,275,000 from HKD 484,836,000 in the previous year[3] - Total liabilities decreased by 4.0% to HKD 85,522,000 from HKD 89,074,000 in 2022[3] - The company had no bank borrowings as of December 31, 2023, down from HKD 5,298,000 in 2022[3] - The company’s total equity decreased by 3.8% to HKD 380,753,000 from HKD 395,762,000 in 2022[5] - Cash and cash equivalents decreased by 9.1% to HKD 132,383,000 from HKD 145,595,000 in 2022[3] Inventory and Receivables - Inventory increased to HKD 59,937,000 in 2023 from HKD 58,457,000 in 2022, indicating a slight growth in stock levels[5] - Trade receivables decreased to HKD 34.656 million in 2023 from HKD 36.751 million in 2022, reflecting a reduction in outstanding amounts[10] - Trade payables and notes payable increased to HKD 44.364 million in 2023 from HKD 38.626 million in 2022, indicating a rise in liabilities[28] - Inventory turnover days increased from 232.2 days in 2022 to 235.0 days in 2023, attributed to a 2.5% increase in inventory to HKD 59.9 million[66] - Trade receivables decreased by 5.7% to HKD 34.7 million in 2023, resulting in a reduction of trade receivables turnover days to 45.9 days[67] - Trade payables increased by 14.9% to HKD 44.4 million, leading to an increase in trade payables turnover days to 164.7 days[68] Operational Highlights - The number of physical sales outlets decreased to 156 as of December 31, 2023, down from 205 in the previous year[36] - Self-operated retail accounted for 71.3% of total revenue, down 6.3% from the previous year, primarily due to slow economic recovery in Hong Kong[51] - E-commerce sales surged by 53.9% to HKD 44.7 million, driven by successful live-streaming sales events in mainland China[51] - Distribution business revenue fell by 13.9% to HKD 17.7 million, attributed to a decrease in the number of operating points in mainland China and reduced sales in Macau[51] - Operating expenses for sales and distribution rose by 13.5% to HKD 153.6 million, mainly due to increased employee costs and promotional expenses related to live-streaming sales in mainland China[61] Future Plans and Strategies - The company plans to open 10 to 15 new self-operated stores in Shenzhen in 2024, focusing on shopping malls and suitable street shops[44] - The company aims to enhance its wholesale business in mainland China, seeking opportunities to supply national enterprises with uniquely designed bedding products[44] - The company will continue to optimize its licensed cartoon product portfolio, introducing new promotional activities themed around various popular cartoons to drive sales growth[46] - The company plans to launch new health-related sleep products in collaboration with the China Peptide Life Science Research Institute in early 2024[44] - The company will implement a strategy to enhance live-streaming sales operations in mainland China, focusing on platforms like Douyin and Kuaishou[44] Awards and Recognition - The company received the "Supply Chain Partner Award" from long-term partner Cotton Incorporated, highlighting its commitment to sustainable production practices[41] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year[99] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial reporting process and internal control systems for the year ending December 31, 2023[100] - The financial figures for the year ending December 31, 2023, have been agreed upon by the external auditor, Zheng Zheng CPA[101] Miscellaneous - No dividends were declared or proposed for the year ended December 31, 2023, consistent with 2022[22] - The company did not purchase, redeem, or sell any of its listed securities during the year[96] - The annual general meeting is scheduled for May 24, 2024, with a suspension of share transfer registration from May 20 to May 24, 2024[97][98] - The company expresses gratitude to its customers, business partners, and shareholders for their continued support[102]
卡撒天娇(02223) - 2023 - 年度业绩