CAFE DE CORAL H-大家乐集团(00341) - 2023 - 年度财报

Financial Performance - Revenue for the year ended 31 March 2023 reached HK $8,024.0 million, a 6.9% increase compared to the previous year[7] - Profit attributable to equity holders of the company surged to HK$ 110.4 million, a 420.2% increase year-over-year[7] - Basic earnings per share rose to HK $0.19, a 375.0% increase from HK$ 0.04 in the previous year[7] - Total assets increased by 4.4% to HK $7,175.3 million as of 31 March 2023[7] - Net assets per share decreased slightly by 1.2% to HK$ 4.77[7] - Interim and final dividends per share increased by 35.7% to HK38 cents[7] - Group revenue increased by 6.9% to HK $8,024.0 million for the year ended 31 March 2023, compared to HK$ 7,508.8 million in FY2021/22[21][30] - Profit attributable to shareholders rose to HK $110.4 million, up from HK$ 21.2 million in FY2021/22, including HK $40.9 million in COVID-19 subsidies received during the year[21][30] - Revenue increased by 6.9% to HK$ 8,024.0 million in FY2022/23 compared to HK $7,508.8 million in FY2021/22[35][36] - Gross profit margin rose to 8.8% in FY2022/23 from 7.3% in FY2021/22, driven by better control of food and labor costs[38][39] - Profit attributable to equity holders surged 420.2% to HK$ 110.4 million in FY2022/23 from HK $21.2 million in FY2021/22, primarily due to business recovery[42] - Adjusted net profit increased by 165.1% to HK$ 69.5 million in FY2022/23 compared to a loss of HK $106.6 million in FY2021/22[43] - Basic earnings per share surged by 375.0% to HK19 cents in FY2022/23[43] - The Group's dividend payout ratio reached 201.7% for the year, with a final dividend of HK28 cents per share[43] - The company paid an interim dividend of HK10 cents per share and proposed a final dividend of HK28 cents per share, totaling approximately HK$ 163,997,000[170] - Distributable reserves of the company as of 31 March 2023 amounted to approximately HK $971,586,000[171] COVID-19 Impact and Recovery - The company faced challenges from the fifth wave of COVID-19 and slower-than-anticipated economic recovery in Hong Kong[9] - A nationwide COVID-19 outbreak in Mainland China during the third quarter significantly impacted the company's business[9] - The company achieved a solid return to growth following the worst of the COVID-19 pandemic[9] - Hong Kong business improved from Q2 2023, but H2 results were impacted by slower-than-expected economic recovery and a nationwide COVID-19 outbreak in Mainland China[22][23][30] - Mainland China business experienced a V-shaped recovery in early 2023 following the relaxation of pandemic controls, with healthy overall performance and satisfactory network expansion progress[23][33] - Greater Bay Area business in Mainland China was seriously impacted by COVID-19 outbreaks but returned to normal levels from mid-January 2023[33] - The Group received HK$ 40.9 million in COVID-19 subsidies in FY2022/23, down from HK5,078,000 to its external auditor, PricewaterhouseCoopers, including HK $3,593,000 for audit services and HK$ 1,485,000 for non-audit services such as taxation and information system advisory services[137] - The Board is responsible for evaluating and determining the nature and extent of risks according to its risk appetite, ensuring the establishment of effective risk management and internal control systems[138] - The company's risk management and internal control systems are based on internationally recognized standards and designed to manage, but not eliminate, the risk of failure to achieve business objectives[139] - The Group's risk governance structure is based on the "3 lines of defence" model, including day-to-day operational management, risk and compliance oversight, and independent assurance[140] - The enterprise risk management (ERM) policy clearly defines the roles and responsibilities of the Board, Audit Committee, Management Board, department and operation heads, and Internal Audit[140] - The Group's ERM approach is a structured mechanism for identifying, evaluating, prioritizing, managing, and monitoring risks, categorized into strategic, operational, financial, and compliance risks[143] - Key risks managed and monitored during the year included food safety, supply chain management, site acquisition, project management, and human resources management[146] - Climate change is considered an emerging risk, and further actions will be taken if it becomes a significant threat to business operations[146] - The Board conducted an annual review of the effectiveness of the Group's risk management and internal control systems for the year ended 31 March 2023, covering financial, operational, and compliance controls[146] - The Audit Committee reviewed the adequacy of resources, staff qualifications, experience, training programs, and budget for internal audit, accounting, financial reporting, and ESG performance and reporting[146] - The Group's Internal Audit team, co-sourced with external consultants, provides independent, objective assurance and consulting services on risk management and internal control[143] - Risk owners are required to submit risk alerts with mitigation plans and regular risk reports to the Management Board and Audit Committee for ongoing review and monitoring[146] - The Board received confirmation from the Management Board on the effectiveness of the risk management and internal control systems, with no significant areas of concern identified[146] - The Group has adopted a clear anti-corruption policy and provides ongoing anti-corruption training to ensure compliance and ethical behavior among employees[147] - The Company has established a Protocol on Malpractice Reporting and Investigation, allowing employees and business partners to report concerns confidentially, with reports directly handled by the Head of Internal Audit[147] - The Company adheres to the Model Code for Securities Transactions by Directors of Listed Issuers, with all Directors confirming compliance during the year ended 31 March 2023[147] - The Group's Disclosure Policy ensures timely and equal dissemination of inside information, with a dedicated Disclosure Team responsible for evaluating and approving disclosures[148] - The Company Secretaries provide governance support to the Board and ensure compliance with professional training requirements under the Listing Rules[149] - The Company's Dividend Policy aims to provide regular and stable dividends, with payouts based on profit available for distribution, historical payout ratios, and consideration of business performance and market conditions[153] - The Shareholders' Communication Policy ensures effective communication with shareholders through various channels, including meetings, publications, and conferences, with regular feedback reported to the Board[154] - The Company had 551 registered shareholders as of 31 March 2023[160] - 24.501% of registered shareholders held 0–1,000 shares, totaling 11,012 shares (0.002% of total issued shares)[162] - 44.827% of registered shareholders held 1,001–5,000 shares, totaling 647,245 shares (0.110% of total issued shares)[162] - 11.615% of registered shareholders held 5,001–10,000 shares, totaling 541,800 shares (0.093% of total issued shares)[162] - 14.701% of registered shareholders held 10,001–100,000 shares, totaling 2,593,937 shares (0.443% of total issued shares)[162] - 4.356% of registered shareholders held 100,001 or more shares, totaling 581,910,039 shares (99.352% of total issued shares)[162] - HKSCC Nominees Limited held 403,673,838 shares as of 31 March 2023[163] - The Company maintained the required 25% public float throughout the financial year ended 31 March 2023[163] - The company's sustainability performance is disclosed in four key pillars: Catering to Customers, Empowering Employees, Focusing on Food, and Preserving the Planet[170] - No purchase, sale, or redemption of listed securities by the company or its subsidiaries during the year ended 31 March 2023[172] - No outstanding convertible securities, options, warrants, or similar rights as of 31 March 2023, except for the Share Option Schemes described in the report[172] - The 2012 Share Option Scheme expired on 10 September 2022, with no share options granted under the scheme as of the report date[178] - The company maintains liability insurance to provide appropriate cover for directors and officers of the group[175] - No management contracts for the administration of the company's business were entered into or existed during the year[176] - No arrangements enabling directors to acquire benefits through shares or debentures of the company or any other body corporate during the year ended 31 March 2023[177] - Total number of ordinary shares available for issue is 58,570,403, representing 10% of the issued shares as of the report date[186] - 24,870,000 share options have been granted under the 2022 Scheme as of the report date[187] - The 2022 Scheme will remain in force until 7 September 2032 unless terminated earlier[190] - The exercise price of options granted is determined based on the highest of: (i) the closing price on the grant date, (ii) the average closing price for the five business days preceding the grant date, and (iii) the nominal value of a share[190] - The maximum entitlement for each participant under the 2022 Scheme shall not exceed 1% of the shares in issue in any 12-month period[189] - The vesting period of options granted is determined at the discretion of the Board[190] - The amount payable on acceptance of the options is HK$1.00[190] - The 2012 Scheme expired on 10 September 2022[182] - The purpose of the share option schemes is to attract and retain high-quality personnel and align the interests of grantees with shareholders[184] - The 2022 Scheme was adopted on 8 September 2022 following a shareholders' resolution[187] - 24,870,000