Financial Performance - Revenue for the year ended February 29, 2024, was RMB 401.4 million, a decrease of 2.9% compared to RMB 413.2 million for the previous year[2]. - Gross profit for the same period was RMB 250.8 million, down 6.8% from RMB 269.2 million[2]. - The company reported a loss attributable to equity holders of RMB 23.5 million, an improvement from a loss of RMB 50.3 million in the previous year[2]. - Basic and diluted loss per share was RMB 3.34, compared to RMB 7.12 in the prior year[2]. - Total revenue for 2024 was RMB 401,428,000, a decrease of 2.0% from RMB 413,227,000 in 2023[53]. - Revenue from mainland China was RMB 394,164,000 in 2024, down from RMB 410,426,000 in 2023, reflecting a decline of 4.0%[53]. - Overall retail revenue declined by 2.9% to RMB 401.4 million, despite same-store sales increasing by 11.7%[90]. - The net loss for the year was RMB 24,326 thousand, significantly improved from a net loss of RMB 51,267 thousand in the prior year, representing a reduction of approximately 52.6%[150]. Dividends and Shareholder Returns - The company declared an interim special dividend of HKD 5.0 per share, compared to no dividend in the previous year[2]. - The company plans to declare a final special dividend of HKD 0.05 per share, totaling approximately RMB 32,173,000, as a reward for shareholders[41]. - The board has proposed a special dividend of HKD 0.05 per ordinary share for the year ending February 29, 2024, which is a new initiative compared to no special dividend in the previous year[110]. Assets and Liabilities - Total assets decreased to RMB 744.1 million from RMB 802.5 million year-over-year[19]. - The company’s total equity decreased to RMB 618.1 million from RMB 663.6 million[6]. - Total liabilities decreased to RMB 125,971 thousand from RMB 138,814 thousand, reflecting a reduction of approximately 9.2%[155]. - Current assets included cash and bank balances of RMB 364.7 million, slightly down from RMB 371.6 million[5]. - Non-current assets increased to RMB 76.0 million in investment properties from RMB 73.2 million[18]. Operational Efficiency - General and administrative expenses decreased by 3.3% to RMB 84,000,000 in 2024, compared to RMB 86,900,000 in 2023[48]. - The company has maintained a strict control over logistics costs, contributing to the reduction in general and administrative expenses[48]. - Sales and distribution expenses decreased by 14.7% to RMB 204.8 million, accounting for 51.0% of total revenue, down from 58.1% in the previous year[83]. - The company is actively controlling e-commerce expenses in response to revenue, emphasizing high-traffic and high-sales platforms[100]. Store Network and Retail Strategy - The retail network in mainland China consisted of 283 physical stores, with a net decrease of 38 self-operated stores during the year[77]. - The number of stores for the core brand le saunda decreased by 41 to 202, while the high-end brand LINEA ROSA saw a reduction of 1 store to 26[91]. - The company plans to reduce underperforming physical stores and focus on a mixed sales model that includes direct sales to optimize operations and reduce costs[125]. - The company is optimizing its store network, focusing on traditional department stores while adapting to the shift towards experiential shopping[99]. Market and Consumer Trends - The group maintains a cautiously optimistic outlook on future economic growth in mainland China, despite ongoing challenges in the retail market due to high interest rates and uncertain economic growth dynamics[105]. - Retail sales in mainland China dropped by 4.0% to RMB 394.2 million, reflecting weaker-than-expected consumer recovery[93]. - The company plans to focus resources on the footwear business in mainland China after closing its beauty business in Hong Kong due to changing consumer patterns[95]. Employee and Governance - The total employee benefits expenditure for the twelve months ending February 29, 2024, amounted to RMB 121,700,000, a decrease from RMB 135,900,000 in the previous year[112]. - The group has a total of 927 full-time employees as of February 29, 2024, down from 1,120 employees a year earlier, indicating a strategic adjustment in workforce management[112]. - The company has adhered to corporate governance codes and has ensured that the roles of chairman and CEO are not held by the same individual, maintaining a clear separation of responsibilities[117]. - The group aims to enhance corporate governance practices to align with business growth and regulatory compliance[147]. Future Initiatives - The group is integrating e-commerce and physical retail operations to enhance operational efficiency and customer interaction[94]. - The company is enhancing its CRM system and reforming the existing VIP membership program to support new marketing strategies[99]. - The group plans to leverage online and offline resources, along with its existing VIP member database, to create a controllable traffic system aimed at enhancing brand value and sales conversion rates[106]. - The company is conducting live-streaming sales events to engage with target customer groups and promote brand information[102].
莱尔斯丹(00738) - 2024 - 年度业绩