Corporate Governance - The board of directors held five meetings in 2022 with an average attendance rate of 93%[3] - The audit committee and remuneration committee are chaired by independent non-executive directors to ensure independent perspectives[8] - The board is responsible for monitoring and implementing effective risk management and internal control systems[1] - The board has reviewed corporate governance practices and confirmed compliance with the Corporate Governance Code during the year ended December 31, 2022[48] - The company has implemented the Corporate Governance Code within its governance framework, delegating responsibilities to the audit committee[70] - Independent non-executive directors confirmed their independence in accordance with the listing rules, and the company considers them independent as of December 31, 2022[76] - The board is responsible for selecting, appointing, and reappointing directors, with the nomination committee tasked with reviewing board composition[69] - The chairman and CEO positions are held by separate individuals to enhance independence and accountability[83] - The company has established a shareholder communication policy to ensure shareholders receive relevant information to exercise their rights[74] - The board consists of two female members, representing 22% of the total board members, aligning with the company's diversity policy[63] - The company aims to maintain a gender diversity ratio of at least 20% on the board and is committed to gradually increasing the proportion of female members[78] - The board has adopted a revised diversity policy, considering various factors such as skills, industry experience, and gender in its composition[78] Financial Performance - Revenue increased by 7% to HKD 1,462,864,000 compared to HKD 1,361,840,000 in the previous year[99] - Core operating profit decreased by 4% to HKD 83,758,000 from HKD 87,663,000 year-on-year[99] - The company reported a 9% decline in profit attributable to shareholders from continuing operations, totaling HKD 67,785,000 compared to HKD 74,399,000 in the previous year[99] - The company maintains a strong financial position with net cash of HKD 257,000,000 and no bank borrowings[100] - The company aims for double-digit stable growth in revenue and profit over the next three years, focusing on expanding its store network in Hong Kong and the Greater Bay Area[100] - The company declared a final dividend of HKD 0.05 per share[107] - The dividend payout ratio was reported at 169.1%, indicating a strong return to shareholders[194] - Basic earnings per share from continuing operations decreased by 9.4% to HKD 0.087[176] - In 2022, the company achieved earnings per share (EPS) of 450 HKD cents, representing a year-on-year increase of 600%[194] - The total equity return was reported at 542.5% for the year, indicating strong financial performance[194] Risk Management and Compliance - The company has established a risk management and internal control framework with three levels of oversight[23] - The audit committee conducted an annual review of the effectiveness of the group's risk management and internal control systems, confirming they are established, sufficient, and effective[46] - The company has implemented measures to manage financial risks, including foreign exchange, credit, liquidity, and interest rate risks[40] - The company has adopted a policy to handle and disclose inside information, ensuring confidentiality until timely disclosure is made[45] - The company maintains a zero-tolerance approach towards bribery and emphasizes ethical standards across all operational areas[41] - The internal audit function is overseen by the governance department, ensuring compliance with established policies and procedures[42] - There were no significant breaches of the Code of Conduct and Business Ethics reported in 2022 that could impact the company's operations[26] Operational Performance - The total number of stores increased to 174, up from 153, with 19 new stores opened in Hong Kong and Macau during the year[100][106] - The company achieved high single-digit sales growth due to store network expansion, despite a slight decline in comparable same-store sales[127] - The company has opened three new Mon cher stores in Japan, enhancing its presence in the premium cake market[130] - The "corporate-to-corporate" business segment has shown satisfactory growth, supplying products to two major retail chains[127] - The company has implemented measures to ensure a safe working environment amid the COVID-19 pandemic, including employee training and regular disinfection of facilities[190] - The company is focused on sustainable business practices and corporate social responsibility, aligning its values with its operational culture[199] - The company plans to explore new sustainable long-term business opportunities in the Greater Bay Area[200] Strategic Initiatives - The company has implemented a three-year business plan and annual budget, with quarterly reviews of operational and financial performance[25] - The company plans to continue expanding its store network and enhance its digital marketing efforts on platforms like Douyin and WeChat to boost sales[122] - The group is actively seeking surrounding business and acquisition opportunities to increase revenue sources and expand its footprint[115] - The company is actively exploring acquisition targets to enhance brand value and achieve synergies[147] - The company has implemented energy-saving measures, including installing LED lights and energy-efficient glass, as part of its commitment to corporate responsibility[1] - The company plans to enhance its "online-to-offline" customer relationship management platform to improve digital experience[173] Employee and Community Engagement - The company has been recognized with the "10-year Plus Caring Company" logo by the Hong Kong Council of Social Service, reflecting its commitment to community and employee care[191] - Female employees, including senior management, accounted for 63% of the total workforce as of December 31, 2022, reflecting the nature of the retail and bakery industry[64] - The company is focused on maintaining a strong employer brand and supporting employee development amid rising operational costs[115] - The company provides regular training for directors to ensure compliance with new regulations and to promote ongoing professional development[35]
利亚零售(00831) - 2022 - 年度财报