Financial Performance - For the three months ended March 31, 2024, the company reported revenue of HKD 963,015,000, a decrease of 7.1% compared to HKD 1,036,597,000 for the same period in 2023[4] - Gross profit for the same period was HKD 346,586,000, down from HKD 365,241,000, reflecting a gross margin of approximately 36.0%[4] - The company achieved a profit before tax of HKD 156,128,000, representing an increase of 4.4% from HKD 149,030,000 in the previous year[4] - Net profit for the period was HKD 119,252,000, compared to HKD 110,682,000 in the prior year, marking an increase of 7.7%[4] - Basic and diluted earnings per share increased to HKD 11.30 from HKD 10.49, reflecting a growth of 7.7%[4] - The profit attributable to the company's owners was HKD 117.9 million, representing a 7.3% increase from HKD 109.9 million in the previous year[16] Assets and Liabilities - Total assets as of March 31, 2024, amounted to HKD 3,912,190,000, an increase from HKD 3,787,548,000 at the end of 2023[6] - Current liabilities decreased to HKD 812,949,000 from HKD 896,185,000, indicating improved liquidity management[6] - The company’s cash and cash equivalents stood at HKD 1,171,080,000, down from HKD 1,199,054,000, reflecting a decrease of 2.3%[5] - Non-current assets totaled HKD 2,167,687,000, slightly down from HKD 2,179,577,000, indicating stability in long-term investments[5] - The company’s equity attributable to owners increased to HKD 3,747,862,000 from HKD 3,631,441,000, showing a growth of 3.2%[6] Revenue Breakdown - Revenue from Hong Kong and other Asian operations decreased by 3.4%, while revenue from mainland China decreased by 9.1% (a 5.7% decrease in local currency) due to slower consumption growth in China[12] - The company reported segment revenue from other Asian markets of HKD 348.4 million and from mainland China of HKD 614.6 million for the current period[13] Market and Operational Insights - The company's operating performance in mainland China was impacted by negative currency translation effects and slower consumption growth[12] - The company noted a recovery in sales volume in the fourth quarter, driven by increased demand in the Hong Kong food service sector and higher sales of premium instant noodles[19] - The company has expanded its sales regions in China and strengthened its "Kumamoto" brand, focusing on high-end packaged instant noodles[19] - The company reported that the sales volume in the fiscal year was slightly down due to changes in consumer spending patterns, particularly among Hong Kong residents[19] Future Outlook and Risks - The company anticipates that future performance may be significantly impacted by major risks and uncertainties, which could lead to differences from the forward-looking statements made[19] Dividends and Shareholder Information - The company did not recommend the payment of any dividend for the current period, consistent with the previous period[11] - The company's major shareholder, Nissin Foods Holdings Co., Ltd., holds approximately 72.05% of the issued shares[16] Fiscal Year Performance - For the fiscal year ending March 31, 2024, total sales amounted to ¥69,474 million, a slight decrease of 0.5% compared to ¥69,804 million in the previous year[18] - The operating profit for the same period was reported at ¥8,129 million, down 2.8% from ¥8,360 million year-over-year[18] - In China, the revenue was ¥66,452 million, reflecting a decrease of 0.8% compared to the previous fiscal year[19] - Core operating profit in China increased by 3.6% to ¥8,053 million, despite overall sales volume showing a slight decline[19] Government Subsidies - The company has not received any one-time government subsidies in the previous fiscal year, contributing to lower profit margins compared to the prior year[19] Reporting Structure Changes - The company has adjusted its reporting structure to include "Nissin Foods (Vietnam)" under the "China" segment, affecting year-over-year comparisons[19]
日清食品(01475) - 2024 Q1 - 季度业绩