Financial Performance - The Group's turnover increased by 72.3% to HK$491.1 million for the year ended December 31, 2023, compared to HK$285.1 million in 2022[7]. - Gross margin rose by 83.8% to HK$358.9 million, up from HK$195.3 million in the previous year[7]. - The profit attributable to owners of the Company was HK$48.6 million, a significant recovery from a loss of HK$125.6 million in 2022[17]. - The Group recorded an EBITDA of HK$125.5 million, a turnaround from an LBITDA of HK$46.5 million in the previous year[7]. - Basic profit per share increased to HK7.00 cents, compared to a loss of HK18.09 cents per share in 2022[7]. - The Group's net ordinary operating profit was approximately HK$46.8 million, compared to a net ordinary operating loss of HK$120.3 million in 2022[28]. Visitor Arrivals and Market Conditions - Visitor arrivals to Macau increased approximately 394.9% compared to 2022, contributing to the Group's improved performance[17]. - The total number of visitors to Macau increased by 394.9%, reaching 28,213,003 visitors in the Year, compared to 5,700,339 visitors in 2022[25]. - Management is optimistic about the operating environment due to stable continuous growth in visitor arrivals[37]. - The recovery in travel and tourism spending in Macau and Hong Kong has led to substantial improvement in the performance of the Group's restaurants and food souvenir shops[37]. Business Segments - The food and catering business generated a profit of HK$24.4 million, while the food souvenir business contributed HK$20.3 million to the profit[18]. - The Group's food souvenir business achieved a total turnover of HK$44.8 million, with a gross margin of HK$69.1 million, significantly up from HK$26.1 million in 2022[33]. - The Group's industrial catering business recorded a turnover of approximately HK$16.3 million, representing a decrease of 5.8% from HK$17.3 million in 2022[30]. Financial Stability and Assets - Total assets increased by 5.7% to HK$1,003.7 million, compared to HK$949.9 million in 2022[8]. - Net assets per share rose by 20.5% to HK$0.513 from HK$0.426 in the previous year[8]. - The gearing ratio improved significantly to 170.0%, down from 212.6% in 2022, indicating better financial stability[8]. - The Key Investment Property was valued at approximately HK$558.0 million as of December 31, 2023, slightly up from HK$556.0 million in 2022[22]. Operational Challenges and Strategies - The Group faces challenges such as intense competition, rising operating costs, and changing consumer preferences in the food and catering industry[37]. - Management is actively reviewing and monitoring operational performance to enhance market position and brand value[37]. - The Group aims to capitalize on opportunities in Macau's tourism and food and beverage industry for continued growth[37]. Environmental, Social, and Governance (ESG) Initiatives - The ESG governance structure includes a taskforce responsible for managing ESG issues and reporting to the Board[42]. - The Group has established a Food Safety Department to oversee food safety and hygiene across all operations[48]. - Independent professional firms conduct annual reviews of the Group's internal control and risk systems to ensure compliance with ESG responsibilities[48]. - A materiality assessment was conducted to identify key issues impacting the Group's business and stakeholders, with results confirmed by the Board[55]. - The Group emphasizes stakeholder engagement, maintaining communication with various parties including the Board, employees, investors, and communities[57]. - Key materiality issues identified include food quality and safety, occupational health and safety, and compliant operation, among others[66]. - The Group is committed to improving its ESG performance and creating greater value for the community and society[64]. Waste and Resource Management - The Group generated a total of 187 tonnes of non-hazardous waste in 2023, up from 99 tonnes in 2022, representing an increase of approximately 88.9%[97]. - Food waste accounted for 131 tonnes in 2023, significantly higher than 58 tonnes in 2022, indicating a 126.2% increase[97]. - The Group's waste management policy focuses on reducing non-hazardous waste, primarily from food and paper[91]. - The Group has implemented inventory control measures to avoid wastage and encourages staff to minimize paper use[92]. Energy and Water Consumption - Energy consumption in Macau increased to 6,962,450 kWh in 2023 from 5,522,234 kWh in 2022, marking a rise of 26.1%[104]. - Total water consumption rose to 114,942 cubic meters in 2023, up from 99,124 cubic meters in 2022, reflecting a 16.0% increase[112]. - The Group's sewage output also increased by 16.0%, totaling 80,459 cubic meters in 2023 compared to 69,387 cubic meters in 2022[114]. Employee and Labor Practices - The Group employs a total of 629 full-time employees and 56 part-time employees as of December 31, 2023[167]. - The Group emphasizes compliance with local laws regarding labor and has had no material non-compliance issues during the year[156]. - The average monthly turnover rate for the company is 3.3%, with Macau at 1.5%, Hong Kong at 9.4%, and Mainland China at 6.2%[169]. - The average training hours per full-time employee is 1.5 hours, with female employees receiving an average of 1.8 hours and male employees 1.5 hours[179]. Safety and Compliance - The Group maintains a high occupational safety and health standard, satisfying all legal requirements without any material complaints or claims from customers[182]. - The Food Safety Department is responsible for monitoring food safety and hygiene across all operations[183]. - The Group recorded no work-related fatalities in the past 3 years, with 942 days lost due to work injuries during the Year[188]. - There were no material non-compliance issues related to bribery, extortion, fraud, or money laundering that significantly impacted the Group during the Year[193].
FUTURE BRIGHT(00703) - 2023 - 年度财报