Revenue Growth - The group's total revenue increased by 24.8% to HKD 4,367.5 million, driven by the return of mainland travelers after the reopening of borders[2]. - Total revenue for 2024 reached HKD 4,112,322,000, compared to HKD 3,567,112,000 in 2023, marking a growth of 15.3%[14]. - The group achieved a total revenue of HKD 4,367.5 million, representing a year-on-year growth of 24.8%, primarily due to the return of travelers to the core markets of Hong Kong and Macau[47]. - Revenue breakdown shows Hong Kong and Macau at HKD 578.7 million (-21.8%), Mainland China at HKD 152.3 million (+83.9%), and Southeast Asia at HKD 79.7 million (+9.0%)[71]. Profitability - Gross profit increased by 27.3% to HKD 1,783.4 million, with a gross profit margin of 40.8%, up 0.8 percentage points year-on-year[2]. - The group turned a pre-tax loss of HKD 14.4 million from the previous year into a pre-tax profit of HKD 266.7 million, achieving a significant improvement of HKD 281.1 million[2]. - The company reported a net profit attributable to shareholders of HKD 218,883,000 in 2024, significantly up from HKD 58,247,000 in 2023, reflecting a growth of 275.5%[19]. - Basic earnings per share rose to HKD 7.1, compared to HKD 1.9 in the previous year[3]. Dividends - The board proposed a final dividend of HKD 0.05 per share, representing approximately 70% of the annual profit[2]. - The company proposed a final dividend of HKD 0.05 per share for 2024, while no dividend was declared in 2023[21]. Store Expansion - The group opened eight new stores during the year, including its first store in Singapore, and plans to open four more stores in Singapore post-fiscal year[2]. - The company opened five new stores in Hong Kong during the fiscal year, increasing the total number of stores in Hong Kong and Macau to 82[52]. - The group plans to open four new stores in Singapore in the first quarter of the 2024/25 fiscal year, following the reopening of physical stores in December 2023[39]. Online and Offline Sales - Offline sales in Hong Kong and Macau rose by 35.1% to HKD 3,207.3 million, while online sales in mainland China surged by 74.5% in the second half of the fiscal year[2]. - The group recorded a significant increase in online sales in mainland China, maintaining a high online sales mix of 71.4%[47]. - Online sales in mainland China surged by 36.3% to HKD 415.4 million, accounting for 58.8% of the group's total online revenue[61]. Customer Engagement - The conversion rate of travelers to customers reached double digits during the first nine months of the fiscal year, driven by the influx of mainland Chinese tourists[53]. - The company conducted 40 live-streaming sales events, which accounted for 9% of total online sales in Hong Kong and Macau for the fiscal year[57]. - The group is committed to a 30-day return guarantee for customers, reflecting its focus on quality assurance and customer satisfaction[29]. Market Trends - The group has identified a new trend of integrating online and offline retail models, which will be reflected in future financial reporting[9]. - The group observed a shift in the demographic of mainland Chinese visitors, with younger travelers more inclined to try niche brands, presenting opportunities for exclusive brand development[30]. - The group is focusing on enhancing its exclusive brand portfolio by collaborating with emerging niche brands and developing products jointly with brand owners[29]. Financial Management - The group maintained a strong cash position with a net cash balance of HKD 457.8 million as of March 31, 2024, up from HKD 273.3 million in the previous year[48]. - The leverage ratio as of March 31, 2024, is zero, down from 2.9% as of March 31, 2023[89]. - The group maintains a prudent financial risk management policy, avoiding high-risk investments or speculative derivatives[90]. Challenges - The group is facing challenges from labor shortages and high operational costs, impacting service levels and profitability[36]. - The group is actively seeking market gaps in non-tourist areas to better serve local customers, with two new leases signed post-fiscal year-end[76]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[103]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of up to HKD 200 million for potential deals[103]. - The group plans to enhance operational efficiency through digitalization and strict budget management, aiming for sustainable profitability despite economic uncertainties[68].
莎莎国际(00178) - 2024 - 年度业绩