Financial Performance - The group's revenue for the fiscal year ended December 31, 2023, was HKD 1,198.6 million, an increase of 1.1% compared to HKD 1,186.2 million for the fiscal year ended December 31, 2022[2]. - Gross profit for the fiscal year 2023 was HKD 321.1 million, up 22.8% from HKD 261.5 million in 2022, with a gross margin increase from 22.0% to 26.8%[2]. - Net profit for the fiscal year 2023 surged to HKD 297.3 million, a significant increase of 581.4% from HKD 43.6 million in 2022[2]. - Operating profit for the fiscal year 2023 was HKD 336.6 million, compared to HKD 64.9 million in 2022[3]. - The group reported a total comprehensive income of HKD 302.6 million for the fiscal year 2023, compared to HKD 39.7 million in 2022[4]. - Adjusted profit before tax for the group reached HKD 317,696,000, compared to HKD 50,367,000 in the previous year, indicating a significant increase of approximately 530.5%[14]. - The company reported a net profit attributable to equity holders of HKD 297,319,000 for 2023, compared to HKD 43,750,000 in 2022, marking a substantial increase of 579%[26]. - Basic earnings per share rose to HKD 0.38 in 2023 from HKD 0.06 in 2022, reflecting a significant improvement in profitability[26]. - The company incurred total tax expenses of HKD 20,373,000 in 2023, compared to HKD 6,736,000 in 2022, reflecting an increase in tax liabilities due to higher profits[24]. Revenue Breakdown - The group reported total revenue of HKD 1,229,648,000 for 2023, a slight increase from HKD 1,220,973,000 in 2022, representing a year-over-year growth of approximately 0.8%[14]. - Revenue from mainland China decreased significantly to HKD 413,892,000 in 2023 from HKD 750,878,000 in 2022, a decline of 45%[17]. - Revenue from Hong Kong increased to HKD 623,747,000 in 2023, up 94% from HKD 321,552,000 in 2022[17]. - The distribution segment generated revenue of HKD 706,378,000 in 2023, up from HKD 482,300,000 in 2022, reflecting a growth of about 46.7%[14]. - E-commerce segment revenue was HKD 406,397,000 in 2023, down from HKD 738,673,000 in 2022, showing a decline of approximately 45%[14]. - Retail store segment revenue increased to HKD 116,873,000 in 2023 from HKD 0 in 2022, marking a successful launch of this segment[14]. Dividends and Shareholder Returns - The board proposed a final cash dividend of HKD 0.035 per share for the fiscal year 2023, totaling HKD 0.07 per share including the interim dividend, compared to HKD 0.03 per share in 2022[2]. - The company declared a final dividend of HKD 0.035 per share for 2023, totaling HKD 28 million, compared to no dividend in 2022[28]. Assets and Liabilities - Total assets as of December 31, 2023, were HKD 988.9 million, a decrease from HKD 1,012.1 million in 2022[5]. - Total liabilities decreased to HKD 445.4 million in 2023 from HKD 718.9 million in 2022[7]. - The company's equity attributable to shareholders increased to HKD 536.2 million in 2023 from HKD 293.6 million in 2022[7]. - Trade receivables decreased to HKD 236.6 million in 2023 from HKD 256.2 million in 2022, indicating improved collection efficiency[29]. - The company’s trade payables decreased to HKD 156.7 million in 2023 from HKD 302.8 million in 2022, reflecting better cash flow management[31]. Strategic Initiatives and Market Expansion - The company is focusing on expanding into Southeast Asian markets and upgrading its own brands and product offerings[38]. - The company has established procurement centers in multiple countries, enhancing its product diversity and international presence[45]. - The focus on promoting self-owned brands in Southeast Asia aims to leverage the company's distribution channels and logistics advantages[45]. - The company plans to strengthen its presence in Southeast Asia, particularly in Singapore and Malaysia, to drive future revenue growth[46]. - The company has established a strong online and offline sales network, supplying over 1,500 products from more than 200 local and overseas brands[35]. Corporate Governance and Compliance - The company has adopted a code of conduct for directors regarding securities trading, which complies with the standards set out in the listing rules[75]. - The company has fully complied with the corporate governance code during the fiscal year, except for the separation of roles between the Chairman and the CEO[75]. - The audit committee reviewed the group’s accounting principles and internal controls, and the audited consolidated financial statements for the fiscal year[76]. - The chairman and CEO, Mr. Wang, has been responsible for the overall strategic planning and management since the group's establishment[75]. - The board of directors includes one executive director, four non-executive directors, and three independent non-executive directors[78]. Future Outlook - The company expects that the newly adopted accounting standards will not have a significant impact on current or future periods[11]. - The company anticipates a recovery in offline distribution business to pre-pandemic levels, with increased demand for traditional Chinese medicine products[46]. - The company plans to hold its annual general meeting on May 31, 2024[70].
满贯集团(03390) - 2023 - 年度业绩