Financial Performance - The group recorded revenue of approximately HKD 471.8 million, an increase of about 33.7% compared to the previous year[6]. - The group reported a loss of approximately HKD 0.9 million after tax, compared to a profit of HKD 3.3 million in 2022[6]. - Adjusted profit before tax was approximately HKD 2.9 million, compared to an adjusted loss of HKD 11.6 million in 2022[6]. - The group's comprehensive loss for the year was HKD 1.007 million, compared to a comprehensive income of HKD 2.914 million in 2022[8]. - The basic and diluted loss per share for the year was HKD 1.63, compared to HKD 0.14 in the previous year[7]. - The company reported a net loss of HKD 1,544,000 for the year ended December 31, 2023, compared to a net profit of HKD 4,317,000 in the previous year[26]. - The group reported a net loss of HKD 18.8 million for the year ended December 31, 2023, compared to a net profit in the previous year[62]. - The company reported a basic loss attributable to owners of the company of HKD (6,246) thousand for 2023, compared to HKD (533) thousand in 2022, indicating a worsening financial position[38]. Revenue Breakdown - Total revenue for the restaurant operations and consulting services reached HKD 499,998,000, with HKD 471,105,000 coming from external customers[22]. - For the year ended December 31, 2023, total revenue from restaurant operations and consulting services was HKD 471,849,000, compared to HKD 352,877,000 in 2022, representing a year-over-year increase of approximately 33.6%[30]. - The revenue generated from Shanghai-style restaurants increased by approximately 47.8% from about HKD 125.1 million to approximately HKD 184.9 million, primarily due to the opening of a new restaurant in July 2023[55]. - Revenue from Japanese restaurants rose by approximately 62.8% from about HKD 72.3 million to approximately HKD 117.7 million, attributed to a new restaurant opened in January 2023[56]. - Revenue from Vietnamese restaurants increased by approximately 47.8% from about HKD 43.3 million to approximately HKD 64.0 million, benefiting from the lifting of social distancing measures[59]. - Revenue from Italian restaurants grew by approximately 23.1% from about HKD 42.0 million to approximately HKD 51.7 million, also benefiting from the removal of social distancing measures[60]. - Revenue from Thai restaurants decreased by approximately 22.7% from about HKD 68.3 million to approximately HKD 52.8 million, mainly due to the closure of two restaurants[58]. Expenses and Costs - The group experienced a significant increase in operating expenses, including employee benefits, which rose to HKD 167.7 million from HKD 133.3 million in the previous year[7]. - Total operating expenses for 2023 amounted to HKD 51,626 thousand, up from HKD 45,286 thousand in 2022, reflecting a year-over-year increase of approximately 14%[32]. - Employee benefits expenses increased to approximately HKD 167.7 million, representing 35.5% of total revenue, up from 37.8% in the previous year[62]. - Cost of goods sold amounted to approximately HKD 125.8 million for the year ended December 31, 2023, representing 26.7% of total revenue, compared to HKD 102.0 million and 29.1% in 2022, indicating a reduction in the percentage due to cost-cutting measures[64]. - Depreciation and amortization expenses rose to approximately HKD 85.6 million for the year ended December 31, 2023, representing 18.1% of revenue, up from 17.3% in 2022, attributed to new restaurants and equipment[68]. - Rental expenses increased by approximately 92.2% to HKD 9.8 million for the year ended December 31, 2023, accounting for 2.1% of revenue, compared to 1.4% in 2022, driven by increased restaurant revenue[74]. Assets and Liabilities - Total assets increased to HKD 333,035,000 in 2023 from HKD 251,523,000 in 2022, representing a growth of 32.3%[10]. - Total liabilities increased to HKD 261,691,000 in 2023 from HKD 175,742,000 in 2022, marking a rise of 49.0%[11]. - The company's equity attributable to owners decreased to HKD 58,390,000 in 2023 from HKD 64,716,000 in 2022, a decline of 9.9%[11]. - Cash and cash equivalents increased to HKD 64,766,000 in 2023 from HKD 54,175,000 in 2022, reflecting a growth of 19.5%[10]. - Trade payables rose to HKD 22,444,000 in 2023, compared to HKD 19,539,000 in 2022, an increase of 9.8%[11]. - The capital debt ratio as of December 31, 2023, was approximately 71.5%, an increase from 53.8% in 2022, primarily due to new bank borrowings[85]. Strategic Initiatives - The group continues to focus on expanding its restaurant operations and consulting services as part of its growth strategy[21]. - The group plans to continue opening new restaurants and expanding its network, anticipating increases in rental and depreciation expenses in the future[70]. - The group plans to diversify revenue sources by expanding into various businesses, including food supply chain operations in Hong Kong and China[101]. - New products under the company's own brand will include a range of items such as Chinese soup packs and pre-packaged meals, reflecting the company's commitment to innovation[101]. - The company opened two new restaurants in Hong Kong during the fiscal year ending December 31, 2023, and closed two loss-making restaurants[49]. - The company has extended lease agreements for three existing restaurants in Hong Kong, with new lease terms ranging from 2024 to 2026[50]. Governance and Communication - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, and believes they are prepared in accordance with applicable accounting standards[110]. - The company emphasizes the importance of effective communication with shareholders to promote understanding of its business and strategies[113]. - The company has established a shareholder communication policy to ensure timely and comprehensive information dissemination[115]. - The audit committee has reviewed the effectiveness of the shareholder communication policy as of December 31, 2023, and considers it effective[116]. - The company expresses gratitude to its customers, business partners, and shareholders for their continuous support[117].
1957 & CO.(08495) - 2023 - 年度业绩