香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因公告全部或任何部份內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 於百慕達註冊成立的有限公司 網址：http://www.stelux.com 股份編號：84 業績公佈 截至2025年3月31日止年度 寶光實業（國際）有限公司（「本公司」）董事會公佈本公司及其附屬公司（以下合稱「本集團」）截至2025年 3月31日止年度的業績如下： 綜合收益表及全面收益表 截至2025年3月31日止年度 | | | 2025年 | 2024年 | | --- | --- | --- | --- | | | 附註 | 港幣仟元 | 港幣仟元 | | 收入 | 3 | 615,215 | 767,561 | | 銷售成本 | | (334,359) | (381,888) | | 毛利 | | 280,856 | 385,673 | | 其他（虧損）╱收益 | 4 | (27,650) | 514,791 | | 其他收入 | | 35,777 | 28,865 | | 銷售支出 | | ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 302,242,000, a decrease of 18% compared to HKD 368,294,000 for the same period in 2023[4] - Gross profit for the period was HKD 141,919,000, down from HKD 178,641,000, resulting in a gross margin of approximately 46.9%[4] - The company reported a loss before tax of HKD 52,049,000, compared to a loss of HKD 26,263,000 in the previous year, indicating a significant increase in losses[4] - The net loss for the period was HKD 55,268,000, compared to HKD 29,904,000 in the same period last year, reflecting a year-over-year increase of 84%[4] - The basic and diluted loss per share for the period was HKD (5.30), compared to HKD (2.86) in the same period last year, reflecting a deterioration in earnings per share[4] - The group reported a loss before tax of HKD 52,049,000 for the period, with a total loss of HKD 55,268,000[29] - The company reported a net loss of HKD 29,904 thousand for the six months ended September 30, 2024, compared to a net loss of HKD 29,942 thousand in the same period of 2023[41] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 1,456,870,000, an increase from HKD 1,428,625,000 as of March 31, 2024[15] - The company’s total liabilities increased to HKD 558,728,000 from HKD 516,340,000, indicating a rise in financial obligations[15] - Cash and cash equivalents at the end of the period were HKD 71,731,000, up from HKD 62,768,000 at the end of the same period last year[17] - The company experienced a net cash outflow from operating activities of HKD 5,963,000, a significant decrease from HKD 22,534,000 in the prior year[17] - Bank loans increased to HKD 276,183,000 as of September 30, 2024, compared to HKD 233,984,000 on March 31, 2024, reflecting a growth of approximately 17.9%[54] - Trade and other payables totaled HKD 135,997,000 as of September 30, 2024, up from HKD 118,513,000 as of March 31, 2024, indicating an increase of about 14.8%[52] Revenue Breakdown - Total revenue for the six months ended September 30, 2024, was HKD 302,242,000, with sales to external customers contributing HKD 302,242,000[29] - The retail segment in Mainland China generated revenue of HKD 113,409,000, while the remaining regions contributed HKD 88,447,000[29] - The wholesale business reported revenue of HKD 100,386,000, resulting in a total of HKD 371,054,000 when including inter-segment sales[29] - Revenue from property management fees was HKD 1,290,000 for the six months ended September 30, 2024, consistent with the same period in 2023[58] - The company reported shared service income of HKD 2,016,000 for the six months ended September 30, 2024, down from HKD 7,200,000 in the same period of 2023, representing a decline of approximately 72%[58] - Total purchases from related companies amounted to HKD 11,475,000 for the six months ended September 30, 2024, compared to HKD 14,104,000 in the same period of 2023, a decrease of about 18.5%[61] Operational Efficiency and Costs - The group’s administrative net expenses amounted to HKD 15,719,000, which includes financial costs[29] - The company incurred depreciation expenses of HKD 36,049 thousand for property, plant, and equipment for the six months ended September 30, 2024, compared to HKD 31,426 thousand in the same period of 2023[37] - The total employee costs incurred during the period amounted to HK$95.0 million, compared to HK$92.6 million for the six months ended September 30, 2023, and HK$183.9 million for the year ended March 31, 2024[88] - The provision for executive bonuses under the executive bonus plan was HK$1 million for the six months ended September 30, 2024, down from HK$1.62 million in the first half of 2023[87] - The management emphasized the importance of improving operational efficiency, targeting a 10% reduction in costs over the next year[122] Corporate Governance and Structure - The company has complied with the corporate governance code, except for the combined roles of the Chairman and CEO, which the board believes enhances strategic planning and operational efficiency[108] - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of power and oversight[109] - The audit committee reviewed the effectiveness of the internal control system and discussed the financial reporting for the six months ending September 30, 2024[115] - All directors have complied with the standard code of conduct for securities trading during the six months ending September 30, 2024[120] - There were changes in the board of directors, including the appointment of new independent non-executive directors[104] Future Outlook and Strategic Plans - The company provided an optimistic outlook for the next quarter, projecting a revenue increase of 25% to $625 million[122] - New product launches are expected to contribute an additional $50 million in revenue over the next fiscal year[122] - The company is investing in new technology development, allocating $10 million towards R&D initiatives[122] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[122] - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $30 million earmarked for potential deals[122] - The company plans to enhance its digital marketing strategy, aiming for a 15% increase in online sales[122]

Financial Performance - The company reported a revenue of HKD 302,242,000 for the six months ended September 30, 2024, a decrease of 18% compared to HKD 368,294,000 in the same period of 2023[2]. - The company incurred a loss before tax of HKD 55,268,000, compared to a loss of HKD 29,904,000 in the previous year, indicating a significant increase in losses[4]. - The basic and diluted loss per share was HKD 5.30, up from HKD 2.86 in the prior year, reflecting a worsening financial performance[4]. - The group reported a loss before tax of HKD 52,049,000 for the six months ended September 30, 2024, compared to a loss of HKD 29,904,000 for the same period in 2023[42][43]. - The loss attributable to equity holders was HKD 55.4 million for the first half of 2024, compared to a loss of HKD 29.9 million in the first half of 2023[62]. - The group’s segment performance showed a loss of HKD 24,798,000 across all segments for the six months ended September 30, 2024[29]. Assets and Liabilities - Total assets increased to HKD 1,456,870,000 as of September 30, 2024, compared to HKD 1,428,625,000 as of March 31, 2024[17]. - Current assets totaled HKD 482,754,000, an increase from HKD 462,779,000 in the previous period, indicating improved liquidity[8]. - The total assets of the group as of September 30, 2024, amounted to HKD 1,456,870,000, with total liabilities of HKD 558,728,000[33][35]. - Non-current liabilities decreased to HKD 66,927,000 from HKD 78,641,000, suggesting a reduction in long-term financial obligations[13]. - The company's debt ratio increased to 22.9% as of September 30, 2024, up from 18.3% as of March 31, 2024[72]. - The group's current assets and current liabilities were approximately HK$482.8 million and HK$491.8 million, respectively, resulting in a current ratio of about 0.98[75]. Cash Flow and Income - The company’s cash and cash equivalents increased to HKD 71,731,000 from HKD 67,711,000, indicating a slight improvement in cash flow[8]. - Interest income increased significantly to HKD 9,267,000 for the six months ended September 30, 2024, compared to HKD 67,000 in the same period of 2023[46]. - The group’s total income from other sources, including rental income and government subsidies, was HKD 18,222,000 for the six months ended September 30, 2024[46]. - The total employee cost incurred during the period was HKD 95.0 million, compared to HKD 92.6 million for the six months ended September 30, 2023[81]. Operational Performance - Total revenue for the six months ended September 30, 2024, was HKD 302,242,000, with contributions from retail and wholesale segments of HKD 113,409,000 and HKD 100,386,000 respectively[29]. - The "Time Corridor" group's revenue decreased by 21.6% to HK$201.9 million for the first half of 2024, down from HK$257.6 million in the same period of 2023[64]. - The Greater China "Time Corridor" business reported revenue of HK$113.4 million, a decline of 23.2% year-on-year[65]. - The Southeast Asia business revenue was HK$88.4 million, a decrease of 19.5% year-on-year, with a loss before interest and tax of HK$9.8 million[67]. Governance and Compliance - The company has adopted new accounting standards effective from April 1, 2024, which may impact future financial reporting[22]. - The group is currently evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18 on its financial statements[26]. - The company has adopted the provisions of the Code regarding the remuneration committee, excluding the part related to reviewing and determining the remuneration of senior management[92]. - The audit committee reviewed the effectiveness of the internal control system and discussed the financial reporting matters for the six months ending September 30, 2024[93]. - All directors have complied with the standards set out in the Code regarding securities trading during the six months ending September 30, 2024[98]. - The company has confirmed that there have been no violations of the standards set for directors' securities trading[97]. Shareholder and Management Information - The group did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[50]. - The group had no significant investments or acquisitions planned as of September 30, 2024[77]. - The group did not engage in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[80]. - The group repurchased a total of 9,555,000 shares at a total cost of HK$839,287, with 1,716,000 shares cancelled[85]. - The board believes that the continuity of the roles of the Chairman and CEO, Chumphol Kanjanapas, and Vice Chairman, Suriyan Kanjanapas, is essential for the stability and sustainability of the group[91]. - The company will publish its interim report for the fiscal year 2024/2025 at an appropriate time[99].

Financial Performance - Total revenue for the year ended March 31, 2024, was HK$767.6 million, a decrease of 4.7% from HK$805.5 million in 2023[20] - The Group's net profit for the year was HK$473.3 million, a significant increase compared to a net profit of HK$51.1 million in 2023[20] - Profit attributable to equity holders of the company was HK$473.2 million, significantly up from HK$50.8 million in the previous fiscal year[149] - Group turnover decreased by 4.7% to HK$767.6 million compared to HK$805.5 million in the previous fiscal year[149] - Group turnover for FY2023/24 was HK$727.3 million, a decrease of 9.7% compared to FY2022/23, excluding sales of HK$40.3 million from the Disposal of Watches[175] - City Chain Group's turnover increased by 2.6% year-on-year to HK$543.0 million in FY2023/24, compared to HK$529.2 million in FY2022/23[175] - The Group reported a loss of HK$54.6 million in FY2023/24, compared to a loss of HK$52.5 million in FY2022/23 when excluding special items[175] Revenue Sources - Revenue from Hong Kong, Macau, and Mainland China was HK$504.3 million, slightly up from HK$500.97 million in 2023, representing a growth of 0.7%[7] - The Group had no revenue exceeding 10% from any single external customer for the year[7] - Greater China turnover for City Chain operations rose by 17.3% to HK$321.5 million, driven by retail shop growth in Hong Kong and Macau[153] - Same store sales growth in Hong Kong was recorded at 5.6% for FY2023/24[153] - Retail shop sales in Mainland China decreased by 28.1% due to weakened consumer spending power[153] - Turnover for City Chain operations in Southeast Asia was HK$221.5 million, a decline of 13.2% year-on-year due to inflation and a slowdown in private consumption[179] Cost Management - Salaries and allowances decreased to HK$167.9 million from HK$177.7 million, a reduction of 5.0%[15] - Interest on bank borrowings increased to HK$21.5 million from HK$15.1 million, reflecting a rise of 42.5%[12] - The Group has adopted a conservative approach to ordering and purchasing stock due to the adverse business environment[23] - Continuous inventory control and prudent stock procurement measures are in place to strengthen balance sheet management[175] Assets and Liabilities - The total assets of the Group as of March 31, 2024, were HK$1,428.6 million, compared to HK$1,063.1 million in 2023, marking an increase of 34.4%[20] - The Group's shareholders' funds increased to HK$906.6 million from HK$424.1 million, a growth of 113.5%[20] - As of March 31, 2024, current assets were approximately HK$462.8 million, and current liabilities were HK$437.7 million, resulting in a current ratio of approximately 1.06[180] - The Group's total financial liabilities as of March 31, 2024, were HK$435,599,000, compared to HK$549,375,000 as of March 31, 2023, reflecting a decrease of approximately 20.7%[161] Dividends and Reserves - No interim dividend was paid during the year, consistent with the previous year[52] - The directors did not recommend the payment of a final dividend for the year ended March 31, 2024, also in line with the previous year[52] - As of March 31, 2024, the distributable reserves available for distribution as dividends to shareholders amounted to HK$32.737 million, unchanged from the previous year[52] Management and Governance - The company reported a resignation of CFO Kelly Liao on November 24, 2023, and appointed Ching Mei as the new CFO on the same date[54] - Directors Jeff Ho Chi Kin and Honnus Cheung Ho Ling will retire by rotation at the upcoming Annual General Meeting and will not seek re-election[54] - The company confirms that there are no disagreements with retiring directors and no matters need to be brought to shareholders' attention[54] - The company’s directors have extensive experience in various sectors, including online platforms, wealth management, and corporate restructuring[59] Risk Management - The Group's financial risks and management policies are detailed in the "Finance" section of the Management, Discussion and Analysis[23] - The Group's liquidity management policy includes regular monitoring of current and expected liquidity requirements to maintain sufficient cash reserves[161] - The Group's financial risk management includes a focus on liquidity risk to ensure it meets short and long-term obligations[161] Inventory and Supply Chain - Effective inventory management is crucial as inventory levels impact sales, profitability, and cash flows; the Group has implemented systems to monitor inventory metrics closely[23] - The inventory balance as of March 31, 2024, was HK$226.3 million, a slight increase of 1.9% from HK$222.1 million on March 31, 2023[175] - Product sourcing significantly impacts Group turnover and gross margins; CITY CHAIN focuses on maintaining good relationships with principal suppliers and forming strategic brand partnerships[23] - The largest supplier accounted for 62% of the Group's purchases, while the five largest suppliers combined represented 79%[78] Compliance and Regulations - Laws and regulations governing consumer protection, employment, and personal data significantly impact the Group's retail operations[23] - The company’s auditor issued an unqualified letter regarding the continuing connected transactions, confirming compliance with relevant regulations[104] - The independent non-executive directors confirmed that all continuing connected transactions were entered into by the Group on normal commercial terms[80]

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 767,561,000, a decrease of 4.7% from HKD 805,454,000 in 2023[3] - Gross profit increased to HKD 385,673,000, up 5.6% from HKD 365,145,000 in the previous year[3] - The company achieved a significant increase in other income, reporting HKD 514,791,000 compared to HKD 93,315,000 in 2023, marking a growth of 438.5%[3] - Profit before tax surged to HKD 481,706,000, a substantial increase from HKD 59,571,000 in the prior year, reflecting a growth of 707.5%[3] - Net profit for the year reached HKD 473,325,000, compared to HKD 51,105,000 in 2023, representing an increase of 826.5%[3] - Basic and diluted earnings per share rose to HKD 45.21, up from HKD 4.85 in the previous year, indicating a growth of 831.5%[4] - The group reported a net profit of HKD 473,325,000 for the year, compared to HKD 51,105,000 in the previous year[27][31] Assets and Liabilities - Total assets increased to HKD 1,428,625,000, compared to HKD 1,063,123,000 in 2023, reflecting a growth of 34.4%[6] - The company's total liabilities decreased to HKD 516,340,000 from HKD 633,060,000, a reduction of 18.4%[7] - The net asset value increased to HKD 912.3 million from HKD 430.1 million as of March 31, 2023[54] - The group's debt-to-equity ratio improved to 18.3% from 60.7% in the previous year[54] - The group's debt ratio improved to 18.3% from 60.7% as of March 31, 2023, with net debt reduced to HKD 166.3 million[69] Revenue Breakdown - Total revenue for the year ended March 31, 2024, was HKD 946,243,000, an increase from HKD 986,501,000 in the previous year[27][31] - Retail sales in Hong Kong, Macau, and mainland China amounted to HKD 321,506,000, while sales in other Asian regions were HKD 221,506,000[27] - The wholesale business generated revenue of HKD 403,231,000, contributing to a total of HKD 767,561,000 in sales to external customers[27] - Revenue from the sale of watches was HKD 40.3 million; excluding this, total revenue would have decreased by 9.7%[54] - The group's revenue for the "Time Corridor" segment increased by 2.6% to HKD 543.0 million, while excluding the sales from the watch sale, the revenue decreased by 5.0%[59] - The revenue from the Greater China "Time Corridor" business was HKD 321.5 million, a year-on-year increase of 17.3%[60] - The Southeast Asia "Time Corridor" business revenue decreased by 13.2% to HKD 221.5 million, with a pre-tax loss of HKD 10.6 million[63] - The supply chain and wholesale trade segment's revenue declined by 18.7% to HKD 224.5 million, with a pre-tax profit of HKD 27.2 million[64] Accounting Standards and Policies - The group has adopted revised Hong Kong Financial Reporting Standards effective from April 1, 2023, which include HKAS 8, HKAS 12, and related amendments[12] - The adoption of HKAS 12 has narrowed the scope of initial recognition exemptions, excluding transactions that generate equal and deductible temporary differences, such as leases[17] - The group assessed that the adoption of these revised standards did not have a significant impact on the financial position and performance for the years ended April 1, 2022, March 31, 2023, and March 31, 2024[18] - The group has made accounting policy changes in response to the cancellation of the MPF offsetting mechanism for long service payments, effective from May 1, 2025[20] - The group will treat employer MPF contributions as employee contributions for long service payment liabilities, following the guidance from the Hong Kong Institute of Certified Public Accountants[21] - Adjustments for cumulative prior year profits related to long service payment obligations have been confirmed for the year ending March 31, 2024, but were not significant enough to restate comparative figures[22] - The group expects no significant impact from the adoption of new accounting standards effective from April 1, 2024[24] Operational Measures - The company has taken measures to improve liquidity, including closing underperforming retail stores and implementing cost control measures[10] - As of March 31, 2024, the company had unused bank financing of approximately HKD 60,000,000, indicating a focus on maintaining sufficient working capital[10] - The group incurred financial costs of HKD 29,993,000, which impacted the overall profitability[27] - The company reported a significant increase in inventory provisions, with a reversal of HKD 20,921,000 noted during the year[29] - The company has no significant plans for major investments or capital asset changes as of March 31, 2024[75] - The group will continue to invest in e-commerce to enhance brand visibility and customer experience in the Greater China region[62] Corporate Governance - The company has adopted the standard code for securities trading by directors and confirmed compliance during the reporting period[85] - The company has adopted the scope of responsibilities outlined in the code provision B.3.1 regarding the nomination committee[90] - The nomination committee held two meetings on June 27, 2023, and June 25, 2024, to review the independence of retiring independent non-executive directors[90] - Mr. He Zhijian and Ms. Zhang Keling will retire at the 2024 annual general meeting and have decided not to seek re-election[90] - The corporate governance committee is chaired by Ms. Liao Jingwei, the Chief Financial Officer, along with three independent non-executive directors[91] - The audit committee reviewed the performance for the fiscal year 2023/24[76] Dividends and Shareholder Information - The group did not declare any dividends for the fiscal year ending March 31, 2024, consistent with the previous year[44] - The board did not recommend a final dividend for the year ending March 31, 2024, consistent with the previous year[57] - The company will publish its 2024 annual report at an appropriate time, which will be sent to shareholders and uploaded to the relevant websites[92] Employee Information - The group employed approximately 825 employees as of March 31, 2024, a decrease from 842 employees the previous year[77]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 368,294,000, a decrease of 9.8% compared to HKD 408,349,000 in the same period of 2022[4] - Gross profit for the same period was HKD 178,641,000, down 1.0% from HKD 181,449,000 year-over-year[4] - The company reported a loss before tax of HKD 26,263,000, compared to a profit of HKD 59,549,000 in the previous year, indicating a significant decline[4] - Net loss for the period was HKD 29,904,000, compared to a profit of HKD 53,386,000 in the same period last year[4] - Basic and diluted loss per share was HKD 2.86, compared to earnings of HKD 5.08 per share in the prior year[4] - The group reported a loss of HKD 29,904,000 for the period, with an operating loss of HKD 26,263,000 before tax[15] - The total comprehensive loss for the period was HKD 40,652,000, including foreign exchange losses of HKD 10,911,000[15] - The company recorded a loss attributable to equity holders of HKD 29.9 million, while in the previous year, it reported a profit of HKD 53.2 million[50] Assets and Liabilities - Total assets as of September 30, 2023, amounted to HKD 1,099,734,000, an increase from HKD 1,063,123,000 as of March 31, 2023[7] - Total liabilities increased to HKD 710,750,000 from HKD 633,060,000, reflecting a rise in financial obligations[7] - As of September 30, 2023, the group had total equity of HKD 388,984,000, down from HKD 430,063,000 as of April 1, 2023[10] - The group’s total liabilities increased from HKD 633,060,000 as of March 31, 2023, to HKD 710,750,000[19] - The group’s borrowing ratio increased to 72.3% as of September 30, 2023, compared to 60.7% on March 31, 2023, with net debt rising to HKD 277.3 million from HKD 257.4 million[58] - Current assets and current liabilities as of September 30, 2023, were approximately HKD 429.1 million and HKD 633.2 million, respectively, resulting in a current ratio of about 0.68 (down from 0.74 on March 31, 2023)[59] Cash Flow - Cash and cash equivalents decreased to HKD 62,768,000 from HKD 85,426,000, indicating a cash outflow during the period[8] - Operating cash flow for the six months was HKD 39,736,000, down from HKD 54,272,000 in the previous year[8] - The company experienced a net cash outflow of HKD 22,733,000 in cash and cash equivalents during the period[8] Revenue Segments - For the six months ended September 30, 2023, total revenue from the watch retail segment was HKD 147,737,000 in Hong Kong, Macau, and mainland China, and HKD 109,845,000 in other Asian regions, totaling HKD 368,294,000 from external customers[15] - The watch wholesale business generated revenue of HKD 208,453,000, contributing to a total segment revenue of HKD 466,035,000[15] - The revenue from the Greater China "Time Corridor" business was HKD 147.7 million, an increase of 11.4% year-on-year, with retail sales in Hong Kong and Macau growing by 18.6%[52] - The Southeast Asia "Time Corridor" business revenue was HKD 109.8 million, a decrease of 14.2% year-on-year, impacted by inflation and a slowdown in private consumption[53] - The group's watch supply chain and wholesale trade segment revenue decreased by 25.2% to HKD 110.7 million (compared to HKD 147.9 million in the first half of 2022) with a profit of HKD 13.5 million (down from HKD 25.3 million in the first half of 2022)[55] Expenses and Costs - The group’s administrative net expenses were HKD 14,698,000, impacting overall profitability[15] - Depreciation expenses for property, plant, and equipment rose to HKD 9,993,000 in 2023 from HKD 9,185,000 in 2022, while depreciation for right-of-use assets increased to HKD 31,426,000 from HKD 28,622,000[23] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2023, compared to no dividend in the same period of 2022[24] - As of September 30, 2023, Mr. Huang Chuangzeng holds a total of 549,341,014 shares, representing 52.49% of the issued share capital[76] - The company did not repurchase any shares during the reporting period[80] Corporate Governance - The company has complied with the corporate governance code, except for the combined roles of Chairman and CEO held by Mr. Huang Chuangzeng[81] - The Audit Committee reviewed the effectiveness of the internal control system and financial reporting procedures for the six months ending September 30, 2023[85] - All directors have complied with the standard code of conduct for securities trading during the six months ending September 30, 2023[89] - The company has adopted the standard code of conduct for securities trading as per the listing rules[88] Employee and Management Information - As of September 30, 2023, the group had approximately 851 employees, a slight increase from 846 employees a year earlier[69] - The management has set aside HKD 1.62 million for executive bonuses under the executive bonus plan for the six months ended September 30, 2023, compared to HKD 1.12 million in the same period of 2022[70] Risk Management - The group closely monitors capital management and financial risks related to currency and interest rate fluctuations[57] - The group maintains a cautious short-term outlook for the retail sector due to uncertainties from rising interest rates, inflation, and geopolitical conflicts[56]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因公告全部或任何部份內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 於百慕達註冊成立的有限公司 網址：http://www.stelux.com 股份編號：84 業績公佈 截至2023年9月30日止六個月 寶光實業（國際）有限公司（「本公司」）董事會公佈本公司及其附屬公司（以下合稱「本集團」）截至2023年 9月30日止六個月的中期業績及財務資料如下： 簡明綜合收益表 截至2023年9月30日止六個月 未經審核 截至9月30日止六個月 2023年 2022年 附註 港幣千元 港幣千元 收入 2 368,294 408,349 銷售成本 (189,653) (226,900) ...

Financial Performance - Revenue for the year ended March 31, 2023, was HK$805.5 million, an increase of 16.3% compared to HK$692.5 million in 2022[4] - The net profit for the year was HK$51.1 million, a significant recovery from a net loss of HK$106.5 million in the previous year[4] - Shareholders' funds increased to HK$424.1 million as of March 31, 2023, compared to HK$378.1 million in 2022, reflecting a growth of 12.5%[4] - The earnings per share for the year was HK$0.0485, a turnaround from a loss per share of HK$0.102 in the previous year[4] - The Group's total assets as of March 31, 2023, were HK$1,063.1 million, down from HK$1,182.0 million in 2022, indicating a decrease of 10.1%[4] - The Group's liabilities decreased to HK$639.0 million from HK$803.9 million, a reduction of 20.5%[4] - Profit attributable to equity holders was HK$50.8 million, a significant recovery from a loss of HK$106.7 million in the prior year[170] - Excluding disposal gains and non-cash items, the Group reported a loss of HK$45.6 million, a 55.3% reduction from the previous year's loss of HK$102.0 million[170] Business Operations - The Group's watch wholesale business continues to thrive, with a network of independent dealers in Hong Kong, Singapore, and Malaysia, many of whom have been partners for over 25 years[18] - The Group emphasizes sustainable relationships with suppliers and lenders, maintaining strong communication to ensure stable credit facilities[20] - The Group is focused on enhancing employee satisfaction and retention, addressing the challenges posed by changing workforce demographics[19] - There were no significant events affecting the Group since the end of FY2022/23, indicating stability in operations[8] - The Group strengthened cash flow management due to a challenging business environment, implementing measures to improve liquidity[24] - Effective inventory management is crucial as inventory levels impact sales, profitability, and cash flows; the Group adopts a conservative approach to ordering stock[25] - Securing suitable store locations at appropriate rental rates is a key driver of performance, affecting turnover and profitability[26] - Product sourcing significantly impacts Group turnover, gross margins, and inventory levels; the Group focuses on maintaining good relationships with principal suppliers[27] Dividends and Reserves - The Group's distributable reserves available for dividends to shareholders amounted to HK$32.737 million as of March 31, 2023, unchanged from the previous year[50] - No interim or final dividends were paid during the year ended March 31, 2023[45][46] - The Group did not recommend a final dividend for the year ended 31 March 2023, consistent with the previous year[177] Governance and Compliance - The Group's financial risks and management policies are detailed in the "Finance" section of the Management Discussion and Analysis[28] - Climate change and social issues may impact business decisions; the Group's environmental policy is based on the principles of reduce, reuse, and recycle[42] - The Group has not experienced any material non-compliance with applicable consumer protection laws for the year ended March 31, 2023[35] - The provision for the executive bonus scheme for the year ended March 31, 2023, amounted to HK$1,450,000, consistent with the previous year[63] - No director has a service contract that cannot be terminated by the employer within one year without compensation, other than statutory compensation[62] - The directors have formal letters of appointment outlining the key terms and conditions of their roles[63] - The company has no significant transactions, arrangements, or contracts involving directors and their connected parties that had material interests during the year[68] Management and Directors - Mr. Joseph C. C. Wong did not participate in the executive bonus scheme for the year ended March 31, 2023[63] - Mr. Wallace Kwan Chi Kin and Mr. Ricky Lai Kai Ming will retire by rotation at the upcoming Annual General Meeting and are eligible for re-election[65] - Mr. Wallace Kwan Chi Kin has been with the Group since November 2011 and has 30 years of experience in financial management[75] - Mr. Suriyan Kanjanapas was appointed as a non-executive director on October 20, 2021, and has a background in law and management[70] - Mr. Jeff Ho has over 20 years of experience in wealth management services, focusing on corporate restructuring and mergers and acquisitions[80] - Honnus Cheung has expertise in mergers and acquisitions and digital transformation across various industries, including fintech[86] Shareholding and Interests - As of March 31, 2023, Mr. Joseph C. C. Wong holds a total of 549,341,014 shares, representing approximately 52.49% of the total shares issued[94] - Yee Hing Company Limited, through its subsidiary, holds 855,200 shares, with Mr. Joseph C. C. Wong deemed to have an interest in these shares via a discretionary trust[96] - Mr. Joseph C. C. Wong holds 209,000 preference shares in City Chain (Thailand) Company Limited, representing approximately 99.52% of the total preference shares issued[99] - Mr. Joseph C. C. Wong also holds 600 preference shares in Stelux Watch (Thailand) Company Limited, representing approximately 16.67% of the total preference shares issued[99] - Mr. Joseph C. C. Wong owns 5,100 preference shares in Stelux (Thailand) Limited, representing 100% of the total preference shares issued[99] - The Company and its subsidiaries did not establish or operate any share option scheme for the year ended March 31, 2023[89] - No directors or chief executives of the Company have any other interests or short positions in the shares or underlying shares of the Company as of March 31, 2023[100] - The Company has maintained a register of interests as required under the Securities and Futures Ordinance[101] - The interests of shareholders are disclosed pursuant to the Securities and Futures Ordinance as of March 31, 2023[101] - The Company has not granted or exercised any rights related to shares or debentures by its directors or chief executives[100] Supplier and Customer Relations - The largest supplier accounted for 63% of the Group's purchases, while the five largest suppliers combined accounted for 82%[109] - The largest customer contributed 3% to the Group's sales, with the five largest customers combined accounting for 7%[109] Rental and Property Management - The total monthly rental for Premises A, B, and C amounted to HK$584,347.5, excluding rates, government rent, and management charges[129] - The total monthly license fees for storerooms and carpark amounted to HK$24,840 and HK$36,100 respectively, inclusive of rates, government rent, and management charges[129] - The monthly license fees for the warehouse and parking space were determined on an arm's length basis, reflecting favorable market rates[136] - The management and property agency liaison services agreement was renewed for a term of three years from 1 April 2022 to 31 March 2025[139] - The Group has been using the office premises, storerooms, warehouses, and parking spaces primarily for office, administrative, and storage purposes over a long period[136] - The monthly rents and license fees were based on a rental valuation conducted by an independent property valuer[130] - The Group intends to continue leasing the relevant properties to avoid disruption to its business due to relocation[136] - The directors considered the tenancy agreements and licenses to be on normal commercial terms and fair to the Company and its shareholders[130] Continuing Connected Transactions - Continuing connected transactions were conducted on normal commercial terms and are subject to annual review under the Listing Rules[118] - The Group's internal audit function verified compliance of continuing connected transactions with the Listing Rules[119] - The independent non-executive directors confirmed that all continuing connected transactions were entered into by the Group[120] - The aggregate annual cap for continuing connected transactions for the financial year ended 31 March 2023 was approximately HK$8,100,000[136] - Annual cap for the continuing connected transaction was set at HK$2,580,000 for the financial year ended 31 March 2023[146] - Total monthly rental for properties leased to Optical 88 Entities approximated HK$260,000, exclusive of rates and management charges[155] - Aggregate annual cap for the continuing connected transactions for the financial year ended 31 March 2023 was approximately HK$9,999,999[158] - All rents incurred during FY2022/23 were paid during the year[155] Market Outlook and Strategy - The Group maintains a cautious outlook on short-term performance due to inflationary pressures and uncertainties in post-pandemic economic recovery[199] - The Group continues to invest in e-commerce development to integrate online and offline channels[199] - Capital management and financial risks are actively monitored, with prudent treasury management policies in place to address liquidity needs[200]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因公告全部或任何部份內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 於百慕達註冊成立的有限公司 網址：http://www.stelux.com 股份編號：84 業績公佈 截至2023年3月31日止年度 重點 • 集團營業額上升16.3%至HK$805.5佰萬 • 本公司權益持有人應佔溢利為HK$50.8佰萬已經計及下列項目： – 出售一間香港物業收益（「出售收益」）HK$78.7佰萬(2021/22財政年度：無）； – 香港財務報告準則第16號租賃的會計影響（非現金）HK$12.4佰萬（收入）(2021/22財政年 度：HK$29.1佰萬（收入））； – 有關使用權資產的減值虧損（非現金）HK$5.6佰萬(2021/22財政年度：HK$8.1佰萬），主要 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 408,349,000, an increase of 33.5% compared to HKD 306,229,000 for the same period in 2021[4] - Gross profit for the same period was HKD 181,449,000, representing a gross margin of 44.4%, up from HKD 141,474,000 and a gross margin of 46.1% in 2021[4] - The net profit for the six months ended September 30, 2022, was HKD 53,386,000, compared to a net loss of HKD 49,289,000 in the previous year[4] - Earnings per share for the period was HKD 5.08, a significant improvement from a loss per share of HKD 4.71 in 2021[4] - The group recorded a profit before tax of HKD 59,549,000 for the period, compared to a loss of HKD 48,438,000 in the previous year, marking a turnaround in financial performance[24][29] - Total comprehensive income for the period was HKD 32,787,000, compared to a total comprehensive loss of HKD 52,935,000 in the same period last year[11] - Profit attributable to equity holders was HK$53.2 million, including a non-audited gain of HK$78.7 million from the sale of a property in Hong Kong[67] - The group recorded a loss of HK$25.5 million excluding the sale gain, an improvement of 48% from a loss of HK$49.3 million in the previous year[67] Assets and Liabilities - Total assets as of September 30, 2022, were HKD 1,099,579,000, down from HKD 1,182,030,000 as of March 31, 2022[15] - Total assets as of September 30, 2022, amounted to HKD 1,099,579,000, with total liabilities of HKD 682,044,000, resulting in a net asset position[27] - Bank loans secured as of September 30, 2022, were HKD 360.22 million, down from HKD 473.88 million as of March 31, 2022[49] - The group's debt ratio improved to 58.0% from 95.7% as of March 31, 2022, with net debt reduced to HK$239.0 million from HK$361.8 million[78] - As of September 30, 2022, the group's current assets and current liabilities were approximately HK$487.6 million and HK$624.4 million, respectively, resulting in a current ratio of 0.78[80] Cash Flow and Investments - The company reported a cash inflow from operating activities of HKD 43,499,000, compared to HKD 32,593,000 in the same period last year[16] - The group reported an operating cash inflow of HK$54.3 million as of September 30, 2022, with unused bank financing amounting to HK$62.0 million[79] - The group acquired properties, machinery, and equipment amounting to approximately HKD 29.46 million for the six months ended September 30, 2022, down from HKD 51.38 million in 2021[40] - The group added right-of-use assets of approximately HKD 26.57 million for the six months ended September 30, 2022, compared to HKD 32.02 million in 2021[41] - The group completed the sale of a property for a total consideration of HKD 12 million, recognizing an unaudited gain of HKD 7.87 million for the six months ended September 30, 2022[46] Revenue Segmentation - The retail segment in Hong Kong, Macau, and mainland China generated revenue of HKD 132,560,000, while the rest of Asia contributed HKD 127,928,000, indicating strong performance in both regions[24] - The wholesale business reported revenue of HKD 147,861,000, contributing to a total of HKD 408,349,000 in sales to external customers[24] - Revenue from property management fees for the six months ended September 30, 2022, was HKD 1.29 million, slightly up from HKD 1.23 million in 2021[54] - The group's Southeast Asia business recorded a revenue increase of 79.6% to HK$127.9 million, with a profit before interest and tax of HK$3.2 million[74] - The Greater China "Time Avenue" business achieved revenue of HK$132.6 million, an 8.5% increase from HK$122.2 million in the previous year[72] - The revenue of the watch supply chain and wholesale trade segment increased by 31.1% to HK$147.9 million, with a profit of HK$31.6 million excluding exchange rate factors[76] Operational Performance - The retail segment's performance showed a loss of HKD 23,496,000 in Hong Kong, Macau, and mainland China, while the wholesale segment achieved a profit of HKD 25,282,000[24][29] - The group experienced a foreign exchange loss of HKD 20,533,000 related to overseas operations, compared to a loss of HKD 3,626,000 in the previous year[8] - The group experienced a foreign exchange loss of HKD 5,174,000 during the period, which impacted overall profitability[31] - The group reported a significant increase in administrative expenses, totaling HKD 95,111,000, compared to HKD 88,805,000 in the previous year[35] Corporate Governance and Management - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by Huang Chuangzeng[106] - The audit committee reviewed the effectiveness of the internal control system and financial reporting procedures for the six months ending September 30, 2022[111] - The company has adopted the standard code of conduct for securities trading by directors and confirmed compliance among all directors[115][116] - No directors or their associates have disclosed any interests in competing businesses[104] Future Outlook and Strategy - The group plans to continue investing and expanding its e-commerce business in mainland China to increase market share[73] - The group aims to optimize its store portfolio and implement cost control measures to enhance profitability[74] - The management emphasized the importance of enhancing customer engagement, aiming for a 30% increase in customer satisfaction scores[119] - The company plans to implement cost-cutting measures, targeting a reduction of operational expenses by 8%[119] - Future guidance includes maintaining a gross margin of approximately 40%[119] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $300 million earmarked for potential deals[119] Employee and Shareholder Information - The group employed approximately 846 employees as of September 30, 2022, down from 968 employees a year earlier[90] - As of September 30, 2022, Huang Chuangzeng holds a total of 549,341,014 shares, representing approximately 52.49% of the issued share capital[100] - Huang Chuangzeng's voting rights through his preferred shares amount to approximately 8.6%[98] - The company did not repurchase any shares during the reporting period[105]