Business Performance and Strategy - The Group achieved a resilient performance in its accommodation operation segment, adapting to both online and offline operations through digital empowerment[12]. - In 2023, the Group's business strategies were adjusted to ensure stable operations amidst external uncertainties, reflecting a "steady progress" development approach[13]. - The end of COVID-19 restrictions in Mainland China in the first half of 2023 led to a recovery in the commercial and tourism industries, boosting travel activities[12]. - The Group anticipates a gradual recovery in the travel and accommodation industry in 2024, driven by increased consumer demand for accommodation services[14]. - The optimization of the Chinese economy and supportive macro policies are expected to provide strong backing for the Group's business development[18]. - The Group plans to actively seek various investment and business development opportunities to enhance market competitiveness[18]. - Continuous innovation and improvement of products and service levels are prioritized to meet the growing needs of customers[18]. - The Group aims to diversify income sources and achieve long-term sustainable development[18]. Financial Performance - For the year ended December 31, 2023, the revenue from accommodation operations was HK$58,247,000, representing an increase of approximately 6.57% compared to the previous financial year[25]. - The growth in revenue was primarily driven by the recovery of the tourism market, evidenced by the resumption of cross-province travel frequency returning to pre-pandemic levels[25]. - The Group recorded revenue of HK$67,661,000 for the Year, an increase of approximately 7.40% compared to HK$63,002,000 in the previous financial year[63]. - The Group experienced a total comprehensive loss of HK$61,867,000, representing an increase of approximately 227.30% from HK$18,902,000 in the last financial year[63]. - Total operating costs decreased by HK$12,368,000 or approximately 16.32%, from HK$75,793,000 to HK$63,425,000[71]. - Employee benefit expenses decreased by HK$3,863,000 or approximately 17.90% due to effective employee management[72]. - The Group's bank and cash balances decreased to HK$2,214,000 as of December 31, 2023, down from HK$2,434,000 in the previous year[80][82]. Operational Developments - The Group's accommodation consulting and property facility management services are areas of continued expansion to enhance brand and operational efficiency[13]. - The Group is enhancing its core competitiveness by adjusting business strategies, expanding personalized accommodation products, and accelerating store openings[24]. - The Chengdu Branch recorded exceptional growth due to the resumption of normal cross-border traffic and increasing tourism consumption confidence[34]. - The Wuhan Branch has achieved expected results despite the surrounding area's performance yet to improve, focusing on operational upgrades and cost optimization[36]. - The Group is implementing effective sales and marketing plans, including cooperation agreements with new tourism intermediaries to stimulate performance[28]. - The Group is maintaining cost-saving measures to lower corporate expenses and reviewing performance against financial budgets[29]. Branch Performance - The Huizhou Branch offers opportunities for beach vacations, attracting both domestic and foreign tourists[37]. - The Chengdu store achieved strong growth this year, benefiting from the recovery of local economic activities and tourism consumption confidence[38]. - The Wuhan store, located in a prime area, has improved management and marketing strategies, leading to steady operations despite surrounding commercial activities needing improvement[39]. - The Huizhou store is expected to benefit from the increasing number of visitors due to the government's commitment to the Greater Bay Area development, enhancing its long-term performance[41]. - The Nanshan Branch reported improved operating results with increased revenue over the last financial year, driven by a recovery in domestic tourism and rising demand for commercial activities[44]. - The Baoan Branch's revenue from accommodation increased due to comprehensive renovations and the rebound in the tourism industry[50]. Governance and Management - Mr. Lam Cheung Shing Richard resigned as an executive director and CEO of EverChina Int'l Holdings Company Limited effective November 1, 2023[139]. - The Board comprises six directors, including one executive director and five non-executive directors[141]. - The Board meets regularly to review and approve financial and operational performance, as well as overall strategies and policies[145]. - The Company complied with the Corporate Governance Code throughout the year, with certain deviations explained[131]. - The Company will continue to review its corporate governance status and make necessary changes to comply with the CG Code[150]. - The Board of Directors held regular meetings to review and approve financial and operational performance, as well as overall strategies and policies[151]. Gender Diversity and Employment - As of December 31, 2023, the Group had 31 male employees and 63 female employees, resulting in a male-to-female ratio of approximately 3:7, which is considered satisfactory by the Board[187]. - The Company aims to ensure at least one female member on the Board by December 2024, recognizing the importance of gender diversity[185]. - The roles of the Chairman and Chief Executive Officer are segregated to ensure a clear division of responsibilities and prevent power concentration[168]. - The Board adopted a Board Diversity Policy to achieve diversity through various aspects, including gender, age, and professional experience[177]. - The Company aims to achieve gender parity in senior management and potential successors to the Board over time[192]. - The company continues to prioritize gender diversity in recruitment processes to balance gender proportions at all levels[192].
朸浚国际(01355) - 2023 - 年度财报