Retail Outlets and Market Presence - As of December 31, 2023, the Group had a total of 1,007 retail outlets, including 840 concessionary counters and 167 retail shops in Mainland China, Hong Kong, and Macau[5]. - The Group experienced a net decrease of 77 retail outlets, retaining 1,007 outlets with better sales efficiency across key provinces and cities in China[33]. - The Group's market expansion strategy includes a presence in all major cities such as Beijing, Shanghai, and Guangzhou, enhancing market penetration[4]. - The share of sales from the Chinese Mainland was 96.7% in 2023, slightly up from 96.5% in 2022[8]. Financial Performance - The Group's revenue for the year ended December 31, 2023, was 1,652.4 million, compared to 1,334.3 million in 2022, representing a significant increase[10]. - For the year ended December 31, 2023, the Group's revenue was HK$1,281,753,000, a decrease of 3.94% from HK$1,334,269,000 in the previous year[48]. - The gross profit for the year ended December 31, 2023, was 1,281.8 million, up from 1,182.5 million in 2022[12]. - The gross profit margin decreased by 45 basis points to 74.59%[48]. - Loss attributable to owners of the Company amounted to approximately HK$72,168,000, compared to a loss of HK$51,239,000 in the previous year[48]. - Revenue from retail sales was HK$875,508,000, accounting for 68.31% of total revenue, remaining stable compared to the prior year[78][80]. - Online sales revenue decreased by 10.4% to HK$368,648,000, representing 28.76% of total revenue, as consumers shifted to offline consumption[78][80]. Sales Channels and Product Categories - Concessionary counters accounted for 59.3% of total sales in 2023, an increase from 56.7% in 2022[7]. - Internet and wholesale sales represented 31.5% of total sales in 2023, down from 33.7% in 2022[7]. - Lingerie sales comprised 85.4% of total sales in 2023, compared to 85.0% in 2022[9]. - EMBRY FORM and FANDECIE contributed 55.32% and 15.98% to total revenue, with EMBRY FORM's revenue increasing by 1.71% to HK$709,065,000, while FANDECIE's revenue decreased by 19.43% to HK$204,761,000[83][86]. Strategic Initiatives and Future Outlook - The Group plans to adopt a prudent approach, focusing on product designs, production technology, and marketing strategies to align with changing consumer preferences towards quality and sustainability[38]. - Looking ahead to 2024, the Group maintains a conservative outlook on the overall economic situation in China, predicting limited growth in the underwear industry[35]. - The Group aims to leverage its self-production and self-distribution model to enhance production and logistics efficiency while optimizing its supply chain[38]. - The Group will continue to implement a multi-brand strategy and actively explore different market segments to drive overall industry growth[119]. Sustainability and Innovation - The Group launched environmentally friendly product series to align with China's carbon neutrality goals[55]. - The Group launched a new series of environmentally friendly underwear products, "Heart of the Ocean," using bio-based materials, reducing petroleum by-products and associated carbon emissions[66]. - The Group's commitment to sustainable development includes using degradable packaging materials to reduce environmental pollution[71]. - The Group plans to enhance product development for online shopping and strengthen cooperation with low-carbon material suppliers in 2024[118]. Corporate Governance and Leadership - The Company emphasizes good corporate governance as essential for effective management and sustainable business growth[156]. - The Board has adopted the Corporate Governance Code and complied with all applicable provisions during the review period ending December 31, 2023[158]. - The Company has a diverse board with members having extensive experience in finance, law, and academia, enhancing its strategic decision-making capabilities[146]. - The current Board consists of four Executive Directors and four Independent Non-Executive Directors, ensuring a balance of skills and experience[171]. Employee Engagement and Training - The Group emphasizes the importance of employee training and welfare to enhance operational efficiency and mitigate cost pressures[75]. - The total staff cost for the year was HK$455,603,000, a decrease from HK$464,669,000 in the prior year[76][79]. Awards and Recognition - The Group received multiple awards for excellence in product quality and service, including recognition as a leading entity in standardization work in 2023[129]. - Embry Holdings Limited's subsidiary, Embry (Changzhou) Garments Ltd., was recognized as a Green Factory by the Jiangsu Provincial Department of Industry and Information Technology[131]. - The company has been awarded the title of Top 100 Enterprises in the Chinese garment industry by the China Garment Association for the year 2022[131].
安莉芳控股(01388) - 2023 - 年度财报