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蓝月亮集团(06993) - 2023 - 年度业绩
06993BLUE MOON GROUP(06993)2024-03-26 09:36

Revenue and Profit Performance - Revenue for 2023 decreased to HKD 7,323,532 thousand from HKD 7,946,733 thousand in 2022, representing a decline of 7.8%[2][4] - Net profit attributable to equity holders dropped to HKD 325,309 thousand in 2023 from HKD 611,366 thousand in 2022, a decrease of 46.8%[2][4] - Operating profit declined to HKD 130,435 thousand in 2023 from HKD 668,889 thousand in 2022[4] - Revenue from clothing care products decreased to 6,500,671 thousand HKD in 2023 from 6,821,397 thousand HKD in 2022[17] - Revenue from personal care products dropped to 447,008 thousand HKD in 2023 from 619,015 thousand HKD in 2022[17] - Revenue from home care products declined to 375,853 thousand HKD in 2023 from 506,321 thousand HKD in 2022[17] - Total revenue decreased to 7,323,532 thousand HKD in 2023 from 7,946,733 thousand HKD in 2022[17] - Revenue for 2023 was HK7,323.5million,adecreaseof7.87,323.5 million, a decrease of 7.8% compared to HK7,946.7 million in 2022, primarily due to the depreciation of the RMB against the HKD[33][34] - Net profit for 2023 was HK325.3million,asignificantdecreaseof46.8325.3 million, a significant decrease of 46.8% compared to the previous year[33] - Gross profit decreased by approximately 1.2% from HK4,595.4 million in 2022 to HK4,540.4millionin2023,whilegrossmarginincreasedfrom57.84,540.4 million in 2023, while gross margin increased from 57.8% to 62.0%[39] - Operating profit declined sharply by 80.5% from HK668.9 million in 2022 to HK130.4millionin2023[43]−Profitattributabletoequityholdersdecreasedby46.8130.4 million in 2023[43] - Profit attributable to equity holders decreased by 46.8% from HK611.4 million in 2022 to HK325.3millionin2023[47]EarningsPerShareandDividends−Basicearningspersharedecreasedto5.84HKcentsin2023from10.92HKcentsin2022[5]−TheBoardproposedafinaldividendof6.0HKcentspersharefor2023[2]−Thecompany′sbasicearningspershare(EPS)for2023was5.84HKcents,adecreasefrom10.92HKcentsin2022[23]−Thecompany′sdilutedearningspershare(EPS)for2023was5.84HKcents,comparedto10.87HKcentsin2022[24]−Thecompanyproposedafinaldividendof6.0HKcentspersharefor2023,downfrom16.8HKcentspersharein2022[25]−Afinaldividendof6.0HKcentspersharefortheyearendedDecember31,2023,hasbeenproposed[58]−ThefinaldividendwillbepaidonJune24,2024,toshareholdersregisteredbyJune18,2024[65]AssetsandLiabilities−TotalassetsdecreasedtoHKD12,052,641thousandin2023fromHKD12,729,725thousandin2022[6]−CashandcashequivalentsdeclinedtoHKD4,342,528thousandin2023fromHKD7,702,373thousandin2022[6]−TradereceivablesandbillsdecreasedtoHKD1,404,647thousandin2023fromHKD2,050,546thousandin2022[6]−TotalequitydecreasedtoHKD10,379,043thousandin2023fromHKD11,072,780thousandin2022[6]−Non−currentassetsinHongKongdecreasedto18,728thousandHKDin2023from21,283thousandHKDin2022[16]−Non−currentassetsinMainlandChinadecreasedto2,069,079thousandHKDin2023from2,236,921thousandHKDin2022[16]−Thecompany′stradereceivablesandbillsreceivabledecreasedto1,404,647thousandHKDin2023from2,050,546thousandHKDin2022[27]−Thecompany′stradepayablesandbillspayableincreasedto578,074thousandHKDin2023from481,161thousandHKDin2022[30]−Thecompany′sproperty,plant,andequipmenthadanetbookvalueof1,455,289thousandHKDattheendof2023,comparedto1,487,737thousandHKDatthebeginningoftheyear[26]−BankdepositsandcashdecreasedbyHK325.3 million in 2023[47] Earnings Per Share and Dividends - Basic earnings per share decreased to 5.84 HK cents in 2023 from 10.92 HK cents in 2022[5] - The Board proposed a final dividend of 6.0 HK cents per share for 2023[2] - The company's basic earnings per share (EPS) for 2023 was 5.84 HK cents, a decrease from 10.92 HK cents in 2022[23] - The company's diluted earnings per share (EPS) for 2023 was 5.84 HK cents, compared to 10.87 HK cents in 2022[24] - The company proposed a final dividend of 6.0 HK cents per share for 2023, down from 16.8 HK cents per share in 2022[25] - A final dividend of 6.0 HK cents per share for the year ended December 31, 2023, has been proposed[58] - The final dividend will be paid on June 24, 2024, to shareholders registered by June 18, 2024[65] Assets and Liabilities - Total assets decreased to HKD 12,052,641 thousand in 2023 from HKD 12,729,725 thousand in 2022[6] - Cash and cash equivalents declined to HKD 4,342,528 thousand in 2023 from HKD 7,702,373 thousand in 2022[6] - Trade receivables and bills decreased to HKD 1,404,647 thousand in 2023 from HKD 2,050,546 thousand in 2022[6] - Total equity decreased to HKD 10,379,043 thousand in 2023 from HKD 11,072,780 thousand in 2022[6] - Non-current assets in Hong Kong decreased to 18,728 thousand HKD in 2023 from 21,283 thousand HKD in 2022[16] - Non-current assets in Mainland China decreased to 2,069,079 thousand HKD in 2023 from 2,236,921 thousand HKD in 2022[16] - The company's trade receivables and bills receivable decreased to 1,404,647 thousand HKD in 2023 from 2,050,546 thousand HKD in 2022[27] - The company's trade payables and bills payable increased to 578,074 thousand HKD in 2023 from 481,161 thousand HKD in 2022[30] - The company's property, plant, and equipment had a net book value of 1,455,289 thousand HKD at the end of 2023, compared to 1,487,737 thousand HKD at the beginning of the year[26] - Bank deposits and cash decreased by HK370.6 million to HK7,331.8millionin2023,mainlyduetodividendpayments[49]−Thecompanymaintainedastrongliquiditypositionwithacurrentratioof6.70xandnoborrowingsasofDecember31,2023[49]CostsandExpenses−Costofgoodssolddecreasedto2,465,826thousandHKDin2023from3,036,104thousandHKDin2022[19]−Employeebenefitsexpensesremainedstableat1,817,757thousandHKDin2023comparedto1,819,456thousandHKDin2022[19]−Promotionexpensesincreasedsignificantlyto1,290,058thousandHKDin2023from589,607thousandHKDin2022[19]−Taxexpensesdecreasedto70,600thousandHKDin2023from226,691thousandHKDin2022[20]−Thecompany′sincometaxexpensefor2023wasprimarilyrelatedtotheprovisionforenterpriseincometaxforsubsidiariesoperatinginChina[21]−Costofsalesdecreasedby17.07,331.8 million in 2023, mainly due to dividend payments[49] - The company maintained a strong liquidity position with a current ratio of 6.70x and no borrowings as of December 31, 2023[49] Costs and Expenses - Cost of goods sold decreased to 2,465,826 thousand HKD in 2023 from 3,036,104 thousand HKD in 2022[19] - Employee benefits expenses remained stable at 1,817,757 thousand HKD in 2023 compared to 1,819,456 thousand HKD in 2022[19] - Promotion expenses increased significantly to 1,290,058 thousand HKD in 2023 from 589,607 thousand HKD in 2022[19] - Tax expenses decreased to 70,600 thousand HKD in 2023 from 226,691 thousand HKD in 2022[20] - The company's income tax expense for 2023 was primarily related to the provision for enterprise income tax for subsidiaries operating in China[21] - Cost of sales decreased by 17.0% to HK2,783.1 million in 2023, primarily due to lower raw material costs[38] - Sales and distribution expenses increased by 22.4% from HK2,651.0millionin2022toHK2,651.0 million in 2022 to HK3,244.1 million in 2023, driven by expanded promotional activities[41] - The effective tax rate decreased from 27.0% in 2022 to 17.8% in 2023, benefiting from increased offshore interest income[46] Sales Channels and Product Performance - Online sales channels contributed 52.0% of total revenue in 2023, up from 47.3% in 2022, driven by strong performance in emerging online platforms[37] - Offline distributor sales decreased by 15.3% in 2023, while direct sales to large customers dropped by 18.5%, mainly due to reduced sales to delayed payment customers[37] - Sales of laundry care products accounted for 88.8% of total revenue in 2023, a slight decrease from 85.8% in 2022[35] - Personal care and home care product sales declined by 27.8% and 25.8% respectively in 2023, attributed to reduced demand for disinfection products post-pandemic[35][36] - The company launched new products such as the "Jingxiang Foam Body Wash" in the second half of 2023, expanding its product portfolio[31] - The company ranked first in the laundry care category on JD.com and Douyin during major shopping festivals like "618" and "Double 11" in 2023[32] - The company optimized its offline distribution network, focusing on inventory management and expanding coverage in counties and townships across China[31] Financial and Operational Highlights - Gross profit margin improved to 62.0% in 2023, up from 57.8% in 2022[2][4] - The company's weighted average number of ordinary shares for calculating basic EPS was 5,570,307 thousand shares in 2023, down from 5,600,321 thousand shares in 2022[22] - Other income and net gains decreased significantly from HK100.1millionin2022toHK100.1 million in 2022 to HK36.8 million in 2023, primarily due to reduced foreign exchange losses[40] - Financial income increased by 52.3% to HK272.2millionin2023,drivenbyhighershort−termdepositsandUSDdepositrates[44]−Capitalexpendituresfor2023amountedtoHK272.2 million in 2023, driven by higher short-term deposits and USD deposit rates[44] - Capital expenditures for 2023 amounted to HK85.3 million, primarily for expanding production capacity[49] - The company has obtained a total of 1,169 registered trademarks, 335 patents, and 234 copyrights in China as of December 31, 2023[54] - The company had approximately 7,957 employees as of December 31, 2023, with competitive salary levels[55] - Under the 2021 Share Award Scheme, 21,414,999 shares were granted to 366 employees, with 8,621,514 shares vested as of December 31, 2023[55] - No shares were granted under the 2022 Share Award Scheme as of December 31, 2023[56] - The company plans to enhance its omnichannel sales and distribution network, focusing on increasing market penetration on major e-commerce platforms and expanding influence on emerging online platforms[57] - The company aims to accelerate digitalization and upgrade its manufacturing network to improve operational efficiency[57] - The company maintains a public float of 24.06% of its issued share capital, in compliance with the Hong Kong Stock Exchange's requirements[63] - The company's annual general meeting will be held on June 7, 2024, with the notice issued on April 26, 2024[64] - The net proceeds from the global offering amounted to HKD 11,004 million, with HKD 3,380 million remaining for business expansion and laundry services development[67][68] - HKD 1,661 million of the net proceeds is allocated for enhancing brand awareness, sales, and distribution networks, with the balance expected to be fully utilized by the end of 2025[67][68] - HKD 89 million of the net proceeds is allocated for R&D enhancement, with the balance expected to be fully utilized by the end of 2025[67][68] - The total unused net proceeds as of December 31, 2023, amounted to HKD 5,130 million[67] - The company's performance announcement and annual report are available on the HKEX and company websites[69]