In light of rapid changes in the retail market and great progress in technological advancement, momo has accelerated the expansion of our operations by integrating the Group’s resources based on an agile business model. With our forward-looking business expansion plan, momo not only set a new milestone of NT$100 billion in revenue in 2022, but also reported a record-high consolidated revenue of NT$109.24 billion in 2023, up 5.6% from the previous, and a net profit after tax of NT$3.6 billion. As our business channels encompass the Internet, TV, and catalogs, online shopping accounted for 96.24% of our revenue, up 6.6% from the previous year. Such outstanding business performance has firmly established online shopping as the leading e-commerce channel for the Company. In 2023, momo not only focused on live streaming and retail media advertising platform, but also accelerated the expansion of the “momo coins ecosystem” in collaboration with the Group while keeping abreast of the trend of digital empowerment and continuously developing innovative opportunities, so as to maintain our growth momentum.
Since 2020, momo has joined forces with the Group’s parent company, Taiwan Mobile, to launch “In-store Pickup 2.0” at all 800 myfone outlets in Taiwan, thereby realizing 24-hour in-store pickup across the country. In line with the sustainable development strategy, momo began rolling out initiatives to recycle reusable bags across Taiwan Mobile’s myfone outlets in the first quarter of 2024 while actively speeding up the planning of a logistics service roadmap by leveraging the Group’s resources. Furthermore, momo continues to invest in our wholly-owned subsidiary, Fu Sheng Logistics Co., Ltd., as well as the construction of warehouses with the aim of bolstering the connection of transportation capacity between logistics centers, satellite warehouses, customers, and suppliers, so that consumers can enjoy services of the highest quality. The key strategic developments at momo in 2023 are detailed as follow:
Business Performance
Through the precise execution of the strategic plan, momo has continued to grow steadily and achieved record results. In addition to regularly distributing surplus earnings to stakeholders, momo supports the government’s initiatives in promoting corporate innovation, research and development, economic growth, and rent reform. In 2023, momo reported a consolidated revenue of NT$109.2 billion, setting a new record high in our history.
Consolidated Financial Performance
Economic Value for Stakeholders
Sales Regions for Primary Products and Services
(Unit: NT$ thousands)
- *1: Products and services consisted of TV shopping, online shopping, catalog mail order, travel services, personal insurance agency, property insurance agency, and logistics services. We operated on a B2C model and individual consumers were our primary customer.
- * 2: Fubon Gehua, our subsidiary in China, sold a smaller range of products, most of which were non-essentials. The impact of COVID-19 between 2021-2022 led to a large decline in sales compared to the preceding period. Its sales in 2023 came from the sale of inventory goods. With no benefits to be gained from continuing operations due to long-term losses, Fubon Gehua was liquidated by resolution of the Board of Directors in October 2023, and was approved for deregistration on April 8, 2024.
Financial Assistance Received from the Government
(Unit: NT$ thousands)
Dividend Policy and Shareholder Equity
momo’s dividend policy adheres to the Company’s Articles of Incorporation and existing laws and regulations. In order to meet the operational demands of the Company and maximize shareholder equity in the present environment and stage of growth, the distribution of dividends is based on a combination of surplus dividend and high payout ratio. The Company’s future capital budget plan is used to gauge funding needs in upcoming years. Profitability, financial structure and the degree to which earnings per share are diluted are all taken into account. A suitable dividend distribution proposal is then devised by the Board of Directors and submitted to shareholders’ meeting for approval. Employee profit sharing is distributed as cash to safeguard shareholder equity.
Dividend Distribution in the Past Three Years
Annual Patents
