威高国际2023年年报

Page Corporate Information2-4 Chairman’s Statement5-13 Directors’ Report14-26 Corporate Governance Report27-56 Independent Auditor’s Report57-64 Consolidated Statement of Profit or Lossand Other Comprehensive Income65 Consolidated Statement of Financial Position66 Consolidated Statement of Changes in Equity67-68 Consolidated Statement of Cash Flows69-70 Notes to the Consolidated Financial Statements71-183 Financial Summary184 C orporate Information Directors Executive directors Mr. CHENG Chung Man, Johnny(Chairman)Ms. LAM Yuk Sum(Chief Executive Officer) Non-executive directorMr. LAM Man Tin Independent non-executive directors Mr. AU-YEUNG Hau CheongMr. CHENG Man Loong, MontyMr. YEUNG Wing Kay Audit Committee Members Mr. YEUNG Wing Kay(Chairman)Mr. AU-YEUNG Hau CheongMr. CHENG Man Loong, Monty Nomination Committee Members Mr. CHENG Chung Man, Johnny(Chairman)Mr. AU-YEUNG Hau CheongMr. CHENG Man Loong, MontyMs. LAM Yuk SumMr. YEUNG Wing Kay Remuneration Committee Members Mr. YEUNG Wing Kay(Chairman)Mr. AU-YEUNG Hau CheongMr. CHENG Chung Man, JohnnyMr. CHENG Man Loong, MontyMs. LAM Yuk Sum Authorised Representatives Mr. CHENG Chung Man, JohnnyMs. LAM Yuk Sum Company SecretaryMs. WONG Chi Ying C orporate Information Legal Adviser as to Cayman Islands Law Conyers Dill & Pearman, CaymanZephyr HouseGeorge TownGrand CaymanBritish West Indies Conyers Dill & Pearman, CaymanZephyr HouseGeorge TownGrand CaymanBritish West Indies Legal Adviser as to Hong Kong Law Chiu & Partners40th Floor, Jardine House1 Connaught PlaceHong Kong •140 Auditor Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27th Floor, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong 97927 Registered Office Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Head Office and Principal Place of Business 10th Floor, Wyler Centre Phase II192-200 Tai Lin Pai RoadKwai Chung, New TerritoriesHong Kong 192-200 C orporate Information Principal Share Registrar and Transfer Office Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Hong Kong Branch Share Registrar and Transfer Office Tricor Secretaries Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 1617 Principal Bankers Bank of China (Hong Kong) LimitedChiyu Banking Corporation LimitedThe Hongkong and Shanghai Banking Corporation Limited Website Addresses www.veeko.com.hkwww.irasia.com/listco/hk/veeko/index.htm www.veeko.com.hkwww.irasia.com/listco/hk/veeko/index.htm Stock Code 1173 1173 C hairman’s Statement MANAGEMENT DISCUSSION AND ANALYSIS 118ColourmixMORIMORVeekoWanko The Group is a retailer which sells cosmetics products and ladies fashion throughour retail network consisting of approximately 118 points of sale in Hong Kongand Macau, to provide quality and value for money cosmetics products and fashionapparel and accessories to a wide range of consumers at cosmetics stores, namelyColourmixandMORIMOR, and ladies fashion stores, namelyVeekoandWanko,respectively. Business Review 2023331472,625,0002022499,849,0005.4%2022Omicron202320232420231344.1%317.1%20233315.4% During the year ended 31st March, 2023 (the “Review Financial Year”), the Grouprecorded revenue of HK$472,625,000 (2022: HK$499,849,000), representing adecrease of 5.4% as compared to the same period last year. During the ReviewFinancial Year, Hong Kong economy continued to face grave challenges. At thebeginning of 2022, a COVID-19 variant, Omicron, broke out in Hong Kong,leading to the fifth outbreak. To contain the spread of the COVID-19 virus, strictanti-pandemic measures were implemented in the city, including vaccine pass,compulsory quarantine measures and extension of the border lockdown, whichadversely affected various industries, such as tourism and retail. At the start of2023, the global COVID-19 pandemic was gradually under control. In light ofwhich, Hong Kong economy and retail market also entered the phase of recovery.In February 2023, Hong Kong reopened its border, allowing tourists from otherregions to visit as in the past. As a result, the number of tourists increased, andretail business in turn showed signs of improvement. The Group recorded asignificant year-on-year increase of 44.1% in revenue during the fourth quarter(January to March 2023). However, the positive effects brought by the reopeningof the border was inadequate to recover the decrease in revenue of 17.1% recordedduring the first three quarters of the Review Financial Year. Furthermore, theGroup has fewer stores as we closed down those with unsatisfactory performancelast year. As a result, the revenue of the Group decreased by 5.4% for the yearended 31st March, 2023. C hairman