Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 728.9 million, an increase of HKD 33.0 million or 4.7% compared to the previous year[1]. - The gross profit for the same period was HKD 240.6 million, up HKD 5.8 million or 2.5%, with a slight decrease in gross margin from 33.7% to 33.0%[1]. - The group reported a pre-tax profit of HKD 48.7 million for the year ended December 31, 2023, compared to HKD 47.4 million for the year ended December 31, 2022[38]. - Profit for the year ended December 31, 2023, was HKD 48.7 million, an increase of 2.7% from HKD 47.4 million for the previous year[55]. - The group's annual profit increased by HKD 1.3 million or 2.7% to HKD 48.7 million for the year ended December 31, 2023, compared to HKD 47.4 million for the previous year[110]. - Total comprehensive income for the year amounted to HKD 44,245,000, compared to HKD 24,627,000 in the previous year, showing a significant increase of 79.5%[58]. Revenue Breakdown - The revenue from the catering planning services segment increased by HKD 37.4 million or 5.5% to HKD 717.4 million, primarily due to increased sales of coffee and tea products following the end of the COVID-19 pandemic[2]. - The food segment's revenue decreased by HKD 4.4 million or 27.7% to HKD 11.5 million, mainly due to reduced income from Hong Kong[4]. - Revenue generated in Hong Kong increased by HKD 33.1 million or 7.2% to HKD 492.3 million, driven by higher sales of coffee, tea, and dairy products[5]. - Revenue from other markets rose by HKD 4.8 million or 38.4% to HKD 17.3 million, attributed to partial economic recovery post-COVID-19[6]. - Revenue generated from mainland China decreased by HKD 4.9 million or 2.2% to HKD 219.3 million for the year ended December 31, 2023, down from HKD 224.2 million for the year ended December 31, 2022, primarily due to a decline in tea product sales[18]. Cost and Expenses - The group's cost of sales increased by HKD 27.2 million or 5.9% to HKD 488.4 million for the year ended December 31, 2023, compared to HKD 461.2 million for the year ended December 31, 2022, mainly due to increased raw material costs for catering planning services[22]. - Sales and distribution expenses decreased by HKD 1.6 million or 1.5% to HKD 102.8 million for the year ended December 31, 2023, primarily due to reduced marketing and promotion expenses and lower employee costs[77]. - General and administrative expenses remained stable, slightly increasing by HKD 0.1 million or 0.1% to HKD 79.3 million for the year ended December 31, 2023[88]. - The group's financing costs increased by HKD 0.1 million or 11.1% to HKD 1.0 million for the year ended December 31, 2023, primarily due to rising average interest rates on bank borrowings[90]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 2.22 per share, up from HKD 2.19 per share in the previous year, with a special dividend of HKD 13.87 per share[8]. - The company declared a special dividend of HKD 0.1387 per share, totaling HKD 100 million, to be paid on March 11, 2024[102]. - A special dividend of HKD 0.1387 per share was declared on February 16, 2024, amounting to around HKD 100 million, which was paid on March 11, 2024[136]. Assets and Liabilities - Total non-current assets increased to HKD 217.7 million in 2023 from HKD 212.7 million in 2022[39]. - Current assets decreased slightly to HKD 517.5 million in 2023 from HKD 517.9 million in 2022[39]. - Total current liabilities decreased to HKD 125.9 million in 2023 from HKD 143.3 million in 2022[39]. - The company's total assets as of December 31, 2023, were HKD 730,571,000, with total liabilities amounting to HKD 155,335,000[69]. - The total interest-bearing bank borrowings decreased to HKD 7.1 million as of December 31, 2023, from HKD 10.6 million in 2022[92]. - The group's asset-liability ratio improved to 1.2% as of December 31, 2023, down from 1.8% in 2022, primarily due to a reduction in outstanding interest-bearing bank borrowings[95]. Corporate Governance - The board of directors includes eight members, with three independent non-executive directors ensuring adequate governance and oversight[127]. - The company emphasizes good corporate governance practices to enhance investor confidence[139]. - The chairman and CEO positions are held by the same individual, which the board believes aids in executing business strategies efficiently[140]. - The company established an audit committee consisting of three independent non-executive directors to review accounting policies and financial reporting matters[133]. Future Outlook - The group plans to adjust its business strategies flexibly to enhance profitability and improve financial performance in the coming year, despite a challenging business environment[20]. - The group remains optimistic about achieving a full recovery post-COVID-19 and is focused on adapting to changing consumer habits[20]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[61]. Employee and Operational Efficiency - The group employed 195 and 203 employees in Hong Kong and mainland China, respectively, as of December 31, 2023, compared to 209 and 198 in 2022[99]. - The group has implemented several improvement measures to enhance operational efficiency in response to challenges faced in the mainland China market[17]. Miscellaneous - The company experienced a foreign exchange loss of HKD 4,466,000 related to the translation of overseas operations[58]. - The company completed the sale of assets classified as held for sale for HKD 17.2 million, generating a gain of approximately HKD 12.4 million[123]. - The company maintains sufficient public float, with at least 25% of issued shares held by the public as per listing rules[135]. - The annual report for the year ending December 31, 2023, will be distributed to shareholders and published on the company's website and the stock exchange website[143]. - The annual general meeting is scheduled for June 12, 2024, pending shareholder approval[130].
捷荣国际控股(02119) - 2023 - 年度业绩