Financial Performance - The Group's revenue for the year reached approximately HK$1,366.0 million, a significant increase of 595.2% compared to HK$196.5 million in 2022[7] - Gross profit amounted to approximately HK$339.8 million, representing a 773.9% increase from HK$38.9 million in the previous year[7] - Profit attributable to owners of the Company was approximately HK$71.7 million, a turnaround from a loss of HK$74.3 million in 2022, reflecting a change of 196.4%[7] - The Group achieved total revenue of approximately HK$1,366.0 million for the year ended December 31, 2023, a significant increase of 595.2% compared to HK$196.5 million in 2022[33] - Gross profit for the year was approximately HK$339.8 million, representing a substantial increase of 773.9% from HK$38.9 million in 2022[33] - Profit attributable to owners of the Company was approximately HK$71.7 million, a turnaround from a loss of HK$74.3 million in 2022, marking a change of 196.4%[33] Revenue Segmentation - The travel segment generated revenue of approximately HK$1,176.1 million, up 973.8% from HK$109.5 million in 2022, contributing 86.1% to the Group's total revenue[9] - Revenue from package tours amounted to approximately HK$1,176.1 million, an increase of 973.8% compared to HK$109.5 million in 2022, contributing 86.1% to the Group's total revenue[75] - Revenue from FIT products and ancillary travel-related products and services was approximately HK$88.8 million, a 350.8% increase from HK$19.7 million in 2022, contributing 6.5% to total revenue[74] - Revenue from hotel operations amounted to approximately HK$111.6 million, an increase of 133.2% from HK$47.9 million in 2022[101] Operational Highlights - The average occupancy rate for the year was 75.5%, compared to 46.4% in 2022[10] - The average occupancy rate for the Osaka Hinode Hotel was 80.0%, up from 33.1% in 2022, while the Okinawa Hinode Resort had an average occupancy rate of 75.5%, up from 46.4%[100] - The Group opened new branches in Kowloon Bay, Tuen Mun, and Tseung Kwan O in 2023, expanding its presence to a total of 9 branches in Hong Kong and Macau[17] - The Group launched a new limited-time sub-brand "Don't瀛遊" and organized various promotional activities, including a flash event with prize giveaways, which received significant market response[35] - The introduction of the "EGL Culinary Dining Tours" series aims to enhance customer experience through gourmet tours across Japan and Southeast Asia, focusing on authentic local delicacies[36] Community Engagement - The Group collected 3,000 boxes of relief supplies for Turkey earthquake victims within three days, demonstrating strong community support[39] - Employees voluntarily donated over HKD 70,000 to purchase more than 1,000 new winter clothing items for disaster victims in Turkey[39] Financial Management - The Group has ensured adequate working capital for operations and future development through financial support from banks and significant improvement in profitability[86] - The interest coverage ratio improved to 4.9 times in 2023 from -3.1 times in 2022, driven by a substantial recovery in the travel market[110] - The current ratio increased to 1.0 times as of December 31, 2023, up from 0.7 times in 2022, due to a decrease in current bank borrowings and loans from a related company[110] - Total borrowings decreased by HK$183,534,000 to HK$495,750,000 in 2023, resulting in a gearing ratio of 57.8%, down from 75.1% in 2022[112] - Cash at banks and on hand increased by approximately HK$15,640,000 to HK$219,940,000 in 2023[112] Dividends - A special dividend of 7 Hong Kong cents per share was declared on December 14, 2023, following no final dividend in 2022[17] - A special dividend of 7 Hong Kong cents per share was declared, totaling HK$35,171,500 for the year 2023, compared to nil in 2022[110] - The company does not recommend a final dividend for the year 2023, consistent with 2022[110] Strategic Initiatives - The Group anticipates continued growth in travel demand and is actively working to attract new customers[17] - The Group plans to continue expanding its sales network and optimizing sales management to maintain its competitive edge[86] - The Group is committed to exploring strategic partnerships and development opportunities to broaden its sources of income[86] Governance and Compliance - The Group's governance practices are detailed in the annual report, emphasizing a commitment to high standards of corporate governance[186] - No significant events occurred after the reporting period, indicating stability in operations[187] Share Option Scheme - The Share Option Scheme was adopted on November 13, 2014, and is valid for 10 years from the listing date, which is November 28, 2014[194] - No share options were granted, exercised, cancelled, or lapsed during the year under the Share Option Scheme[197] - The maximum number of shares available for issue under the Share Option Scheme is capped at 50,000,000 shares, representing approximately 9.95% of the issued share capital of the Company[197]
东瀛游(06882) - 2023 - 年度财报