Financial Performance - Total revenue for the year ended December 31, 2023, was $201.339 million, representing a 56.6% increase from $128.592 million in 2022[19] - Gross profit for the same period was $62.698 million, with a gross margin of 31.1%, down from 33.2% in the previous year[19] - The company reported a net profit of $7.572 million, a turnaround from a loss of $6.782 million in the previous year[19] - Operating profit for 2023 was $9,300 thousand, a turnaround from an operating loss of $6,025 thousand in 2022[22] - Basic and diluted earnings per share for 2023 were $1.91, compared to a loss of $1.71 per share in 2022[22] - The company reported a total comprehensive income of $7,593 thousand for 2023, a recovery from a loss of $6,818 thousand in 2022[51] - Net profit for 2023 was $7,572 thousand, compared to a net loss of $6,782 thousand in 2022, indicating a strong recovery[23] - The company reported a net profit of approximately $510,000 for the year, compared to a tax credit of $233,000 in the previous year, primarily due to increased operating profit[144] Revenue Breakdown - Revenue from fashion and lifestyle products was $35.213 million, down from $51.967 million in 2022[10] - Revenue from beauty products on the e-commerce platform increased significantly to $162.230 million from $69.568 million in 2022[10] - Revenue from fashion, lifestyle, and beauty products was $197,443 thousand in 2023, up from $121,535 thousand in 2022, showing robust growth in this segment[36] - YesStyle platform revenue for the reporting year was approximately $158.655 million, an increase of about 44.3% compared to $109.934 million in the previous year, driven by a 52.3% growth in sales order volume[102] - Revenue from entertainment products decreased to $2,718 thousand in 2023 from $6,119 thousand in 2022, indicating a decline in this category[36] - Revenue from entertainment products decreased by approximately 48.8% in the reporting year due to the absence of popular new releases[104] - YesStyle's revenue from influencer referrals reached approximately $40,422,000, an increase of 84.6% year-over-year, contributing about 25.5% to total revenue[130] - Total revenue for the fashion and beauty products segment reached USD 158,655 thousand, accounting for 78.8% of total revenue, up from USD 109,934 thousand (85.5%) in 2022, representing a 44.3% increase[173] Customer Metrics - The number of customers on the e-commerce platform increased to 1,445,000, up from 1,020,000 in 2021[10] - Average order value rose to $80.5, compared to $77.0 in 2022[10] - The cost to acquire each new customer decreased to $10.3 from $12.2 in the previous year[10] - Sales order volume for YesStyle in the European Union, Canada, and the UK increased by 136.8%, 117.5%, and 77.2% respectively compared to the previous year[102] - The customer relationship management system generated approximately $26,023,000 in revenue, marking a growth of 74.7% compared to the previous year, with loyalty program membership increasing by approximately 40.4% to about 11,617,000 members[131] - The number of registered Gen Z students and members reached approximately 98,000, generating revenue of about $5,145,000, up from $4,185,000 the previous year[132] Cost and Expenses - Administrative expenses decreased slightly to $29,577 thousand in 2023 from $30,682 thousand in 2022, indicating cost management efforts[22] - The cost of goods sold increased to $92,884,000 from $51,829,000 in the previous year, reflecting the company's growth in sales volume[135] - Total operating expenses increased by approximately $4,864,000 or 25.5% to approximately $23,908,000, primarily due to increased marketing and promotional expenses[192] - Marketing and promotional expenses were approximately $9,604,000, accounting for 4.8% of revenue, an increase of 35.7% from the previous year[164] - The labor cost ratio, which includes outsourced warehouse labor costs and warehouse wages, was approximately 3.5%, down from 5.2% in the previous year, resulting in annual savings of about $3,374,000 or 32.5%[154] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the coming years[71] - The company continues to strengthen its strategic partnerships with major K-Beauty companies, enhancing its product offerings on the e-commerce platform[128] - The company anticipates strong growth in demand for beauty products in the coming years, driven by the expanding global K-Beauty market[156] - Consumer sentiment showed signs of improvement in early 2023, which is expected to enhance retail resilience[185] Assets and Liabilities - The group’s cash and bank balance as of December 31, 2023, is approximately USD 25,181,000, an increase from USD 18,797,000 in 2022[175] - The total non-current liabilities decreased from $12.204 million in the previous year to $8.570 million in the current year[93] - The net asset value increased from $27.137 million in the previous year to $35.054 million in the current year[93] - The group’s total assets as of December 31, 2023, are valued at USD 10,244 thousand, compared to USD 11,125 thousand in 2022[171] - The company had no bank borrowings as of December 31, 2023[200] Dividends and Shareholder Information - Proposed final dividend is 5.0 HK cents, not applicable in the previous year[19] - The proposed final dividend for the year ending December 31, 2023, is HKD 0.05 per share, subject to shareholder approval at the upcoming annual general meeting[168] - Basic earnings per share for 2023 is USD 7,573, compared to a loss of USD 6,782 in 2022, reflecting a significant turnaround[169] Other Financial Metrics - The company reported a financing cost of $1,218 thousand in 2023, up from $990 thousand in 2022, reflecting increased borrowing costs[22] - The company reported capital expenditures of approximately $754,000, mainly for warehouse renovations and improvements to the air conditioning system[196] - The company received government subsidies amounting to $155,000 in the current year, down from $632,000 in the previous year[91] - Other income decreased by approximately $890,000 or 91.5% to approximately $83,000, primarily due to the absence of non-recurring government subsidies[191]
喆丽控股(02209) - 2023 - 年度业绩