Financial Performance - The total comprehensive income attributable to equity shareholders for the year was HKD 229,232,000, compared to HKD 194,813,000 in the previous year, reflecting an increase of approximately 17.6%[4] - Revenue from the sale of luxury goods reached HKD 2,064,251,000, a slight increase from HKD 2,046,535,000 in the previous year, indicating a growth of about 0.1%[23] - The net interest income from securities investments was HKD 81,651,000, up from HKD 57,615,000, representing an increase of approximately 41.7%[10] - The company reported a pre-tax profit of HKD 134,444,000, significantly higher than HKD 65,252,000 in the previous year, marking an increase of about 106.5%[10] - Profit attributable to equity shareholders was HKD 252.6 million, up 25.7% from HKD 209 million in the previous year[45] - The group's revenue for the fiscal year ended March 31, 2023, was HKD 2.13 billion, an increase of 5.5% compared to HKD 2.02 billion in the previous year[62] - Net profit attributable to equity shareholders for the year was HKD 252,637,000, a rise of 25.7% from HKD 200,939,000 in the previous year[112] - Basic and diluted earnings per share increased to 64.1 cents, compared to 51.0 cents in the prior year, marking a growth of 25.7%[112] Tax and Expenses - The total tax expense for the year was HKD 21,739,000, down from HKD 46,778,000, reflecting a decrease of approximately 53.6%[14] - The company recorded a loss of HKD 85,913,000 from non-listed equity and non-equity securities, compared to a gain of HKD 27,772,000 in the previous year, indicating a significant decline in performance in this segment[10] - The investment portfolio incurred a loss of HKD 52.4 million due to extreme market volatility from rapid interest rate hikes[66] Assets and Liabilities - The total assets of the company as of March 31, 2023, were reported at HKD 439,999,000, compared to HKD 427,195,000 in the previous year, indicating a growth of about 3.9%[19] - The company’s total assets decreased to HKD 6,354,598,000 from HKD 6,548,005,000, indicating a reduction of approximately 2.9%[120] - The company’s total liabilities decreased to HKD 2,965,504,000 from HKD 3,250,172,000, a decline of 8.8%[120] - The total liabilities as of March 31, 2023, were HKD 2,210,870, down from HKD 2,510,322 as of March 31, 2022, showing a decrease of approximately 11.9%[121] Dividends - The company plans to distribute a final dividend of HKD 0.27 per share, consistent with the previous year's dividend[31] - The board proposed a final dividend of HKD 0.27 per share, maintaining the total dividend at HKD 0.35 per share, equivalent to an annual yield of 8.73%[63] - The board proposed a final dividend of HKD 0.27 per share, totaling approximately HKD 106.43 million, consistent with the previous year's dividend[73] Market Performance - The company achieved a sales growth of 22.1% in Taiwan, with a profit increase of 62.1% in local currency terms, attributed to improved sales and gross margin management[34] - Sales in Hong Kong decreased by 2.6% during the fiscal year due to a challenging retail environment[64] - The Taiwan market was highlighted as the strongest performing market for the company, achieving record sales and profits, although political activities may impact the market in the second half of the year due to the upcoming presidential election[102] - The group recorded a 7.6% increase in retail and wholesale sales in China, despite significant impacts from COVID-19, calculated in local currency[92] Financial Position - The group has a net cash position of HKD 2.26 billion, which strengthens its financial status to cope with potential global economic recession risks and challenging retail environments[68] - The group's current financial resources net amount is HKD 2.26 billion, an increase from HKD 2.04 billion in 2022, with cash and bank balances of HKD 3.27 billion[69] - The current ratio as of March 31, 2023, was 2.3 times, compared to 1.9 times the previous year[54] Employee and Operational Metrics - As of March 31, 2023, the total employee cost amounted to HKD 261.8 million, a decrease from HKD 279.9 million in 2022[69] - The group employs 732 staff as of March 31, 2023, a slight decrease from 743 in 2022[69] - The retail network consists of 62 stores, including 7 in Hong Kong, 29 in China, and 26 in Taiwan[47] Risk Management and Strategy - The group maintains a cautious financial management strategy to ensure long-term sustainability and capitalize on valuable investment opportunities[68] - The group’s financial risk management is executed by its treasury department in Hong Kong, adhering to policies set by the board[71] - The company expects the retail environment in Hong Kong to remain difficult due to inflation and rising interest rates[49] - The group has no plans to buy back or redeem its ordinary shares during the fiscal year[75] Impairment and Valuation - The company recognized an impairment loss of HKD 30 million for certain right-of-use assets related to retail stores, compared to HKD 60.2 million in the previous year, indicating a reduction of 50%[123] - The estimated future cash flows from retail stores were discounted at a rate of 11.6% for the current year, up from 10% in the previous year, indicating a change in the discount rate applied for impairment assessments[123] Product Mix - The product mix includes watches and jewelry at 46%, cosmetics and beauty products at 25.7%, fashion and accessories at 25.2%, and securities trading at 3.1%[48]
迪生创建(00113) - 2023 - 年度业绩