Financial Performance Overview - Group revenue increased by 1% for the full year, with a gross profit margin improvement of 1.3 percentage points to 51.3% [6][30] - Profit from operations grew substantially by 9622%, and profit attributable to equity shareholders increased by 102% to HKD235 million [7][30] - EBITDA increased by 29% year on year, driven by higher gross profit contribution and effective operating cost rationalization [5][30] - Cash on hand was HKD1.27 billion, with a net cash position of HKD657 million and a gearing ratio decreased to 20% [8] Business Line Performance - Mainland China revenue grew by 2% in the second half, contributing to a full-year growth of 1% amid intensified market competition [12][15] - Operating profit in Mainland China increased by 41%, achieving a 9% operating margin [19] - Hong Kong's operating profit grew by 24%, with a 12% operating profit margin, driven by higher sales volumes and favorable commodity costs [23] - Australia saw a revenue growth of 5% in local currency, with a narrowed operating loss by more than 30% in local currency terms [24] Market Performance - Mainland China remains the largest market, accounting for 54% of group revenue [15] - Singapore experienced a slight revenue decrease, but growth in the export tofu business helped offset some softness in beverage sales [25] - The Philippines joint venture with Universal Robina Corporation continued to drive scale and market share growth [25] Company Strategy and Industry Competition - The company will prioritize sustaining business scale and profitability amid geopolitical and economic challenges [14][30] - Focus on maintaining structural profitability in Mainland China while solidifying core portfolio in Hong Kong [14] - Plans to improve field sales execution and increase portfolio innovation to enhance value competitiveness [20] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in gradual improvement and long-term prospects despite short-term macro challenges [15][30] - The company aims to leverage local sourcing and manufacturing to mitigate international tariff risks [14] - Emphasis on enhancing energy efficiency and sustainable practices as part of the long-term strategy [29] Other Important Information - The company announced an updated sustainability framework with ambitious goals for reducing sugar content in products [28][29] - The eleventh annual sustainability report will be available in July, highlighting progress on sustainability targets [26] Q&A Session Summary Question: What are the expectations for growth in Mainland China? - Management indicated that sales growth must come from market share due to significant competitive pricing pressure [19] Question: How is the company addressing the competitive environment in Australia? - The company is implementing commercial programs to improve brand presence and impact across grocery and coffee channels [24] Question: What are the sustainability goals moving forward? - The company aims for 80% of its portfolio to be low sugar or no added sugar products by 2030, reflecting a stronger focus on health trends [28]