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，並明確表示概不就因本公告全部或任何 部分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。 ASIA COMMERCIAL HOLDINGS LIMITED 冠亞商業集團有限公司 * （於百慕達註冊成立之有限公司） （股份代號：104） 截至二零二五年三月三十一日止年度之 全年業績公告 財務摘要 | | 二零二五年 | 二零二四年 | 變動 | | --- | --- | --- | --- | | | 百萬港元 | 百萬港元 | % | | 經營 | | | | | 營業收入 | 709 | 705 | 1 | | 歸屬於本公司持有人之溢利 | 24 | 26 | (8) | | 每股盈利－基本 | 3.27港仙 | 3.51港仙 | (7) | | 報告期末後建議派發之末期股息 | 20 | 26 | (23) | | | 二零二五年 | 二零二四年 | 變動 | | | 百萬港元 | 百萬港元 | % | | 財務狀況 | | | | | 總資產 | 713 | 773 | (8) | | ...

Financial Performance - The company's revenue for the six months ended September 30, 2024, was HKD 337,849 million, a slight decrease of 0.05% compared to HKD 338,010 million in the same period last year[3]. - Net profit attributable to shareholders increased by 17% to HKD 35,816 million from HKD 30,715 million year-on-year[3]. - Basic and diluted earnings per share rose to 4.79 HKD cents, up 17% from 4.11 HKD cents in the previous year[3]. - Gross profit for the period was HKD 109,639 million, down from HKD 111,737 million, reflecting a decrease in gross margin[3]. - The company reported a pre-tax profit of HKD 57,533 million, up from HKD 47,387 million, indicating strong operational performance[3]. - The total comprehensive income for the period was HKD 43,575 million, significantly higher than HKD 21,596 million in the same period last year[27]. - Operating profit for the company was HKD 53,323,000, with a significant contribution from the watch sales segment, which generated an operating profit of HKD 50,406,000[44]. - Operating profit for the period was HKD 52,225,000, a decrease from HKD 49,378,000 in the previous year, reflecting a decline in profitability[70]. - Net profit for the period was HKD 36 million, an increase from HKD 31 million in the same period last year[95]. Assets and Liabilities - Total assets decreased by 5% to HKD 737 million from HKD 773 million as of March 31, 2024[3]. - Total assets as of September 30, 2024, amounted to HKD 503,638,000, an increase from HKD 496,162,000 as of the same date in 2023, reflecting a growth of 1.0%[28]. - The company’s total liabilities as of September 30, 2024, were HKD 328,088,000, reflecting a stable financial position[50]. - The company’s total liabilities were reported at HKD 274,488,000, with a significant portion attributed to tax liabilities of HKD 14,678,000[68]. - The total liabilities as of September 30, 2024, were HKD 82,134,000, with current liabilities accounting for HKD 79,390,000[106]. Cash Flow and Financial Costs - The company reported a net cash generated from operating activities of HKD 43,780,000 for the six months ended September 30, 2024, compared to HKD 29,407,000 for the same period in 2023, representing a 48.8% increase[32]. - The company reported a net decrease in cash and cash equivalents of HKD 41,089,000, ending the period with HKD 126,415,000 in cash[32]. - The company’s financial costs amounted to HKD 4,646,000, which includes interest expenses related to bank loans[44]. - For the six months ended September 30, 2024, the company reported total interest expenses on bank loans of HKD 3,616,000, an increase of 7.5% from HKD 3,363,000 in the same period of 2023[54]. - The company’s financial costs totaled HKD 4,139,000, which was consistent with the previous year's costs of HKD 4,589,000[70]. Dividends and Shareholder Equity - The company paid dividends totaling HKD 26,000,000 during the period, down from HKD 35,040,000 in the previous year[32]. - The interim dividend per share was HKD 0.0348, down from HKD 0.0469 in the previous year, totaling HKD 26 million[79]. - Equity attributable to shareholders increased by 4% to HKD 462 million from HKD 445 million[3]. - The company’s equity disclosure shows that Ms. Lam holds 443,034,400 shares, representing 59.29% of the total issued share capital[123]. Operational Insights - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk[17]. - The company has not reported any single external customer contributing 10% or more to total revenue during the reporting period, indicating a diversified customer base[52]. - The company operates 5 stores in China, focusing on core stores and streamlining operational costs to enhance cost efficiency[131]. - Future business prospects in China depend on the recovery of the economy amid current challenges[131]. - The company is enhancing its financial strength and is confident in improving business performance while adopting a prudent approach to future expansions[131]. Foreign Exchange and Employee Costs - The company experienced a foreign exchange loss of HKD 4,939,000 compared to a gain of HKD 2,689,000 in the previous year, indicating a significant negative shift in currency impacts[54]. - Employee costs, including directors' fees and remuneration, rose to HKD 26,423,000, up 9.5% from HKD 24,124,000 year-on-year[54]. Capital Expenditures and Investments - The company’s non-current assets increased by HKD 28,949,000 during the reporting period, indicating ongoing investment in long-term assets[50]. - As of September 30, 2024, contracted but unrecognized significant capital expenditures amounted to HKD 4,759,000 for property construction[128]. - The company’s investment properties were valued at HKD 327,784,000 as of September 30, 2024, an increase from HKD 316,497,000 as of March 31, 2024[126]. Administrative and Other Expenses - The administrative expenses for the period were HKD 11,000,000, a decrease of 39% compared to HKD 18,000,000 in the same period last year, primarily due to the impact of GBP appreciation on investment properties in the UK[116]. - Distribution costs increased by 4% year-on-year to HKD 48 million, up from HKD 46 million[129].

Financial Performance - For the six months ended September 30, 2024, the operating revenue was HKD 337,849,000, a slight decrease of 0.05% compared to HKD 338,010,000 in the same period last year[4][11] - Profit attributable to shareholders increased by 17% to HKD 35,816,000 from HKD 30,715,000 year-on-year[5][11] - Basic and diluted earnings per share rose to HKD 4.79, up 17% from HKD 4.11 in the previous year[7][11] - The total comprehensive income for the period was HKD 43,575,000, significantly higher than HKD 21,596,000 in the previous year, driven by foreign exchange gains[13][11] - The company reported a net profit of HKD 35,816,000 for the period, after accounting for income tax expenses of HKD 21,717,000[32] - The pre-tax profit for the six months ended September 30, 2024, was HKD 35,816,000, compared to HKD 30,715,000 for the same period in 2023, representing an increase of approximately 16.8%[48] - The group recorded a net profit of HKD 36 million for the period, compared to HKD 31 million in the same period last year[68] Assets and Liabilities - Total assets decreased by 5% to HKD 737,000,000 from HKD 773,000,000 as of March 31, 2024[9][11] - Total assets as of September 30, 2024, amounted to HKD 736,580,000, with segment assets for watch sales at HKD 359,414,000 and leasing properties at HKD 360,722,000[34] - The total liabilities as of September 30, 2024, were HKD 274,488,000, with segment liabilities for watch sales at HKD 210,690,000 and leasing properties at HKD 24,528,000[34] - Trade receivables from third parties decreased to HKD 46,098,000 as of September 30, 2024, from HKD 64,296,000 as of March 31, 2024, a decline of approximately 28.4%[53] - Total trade and other payables were HKD 82,134,000 as of September 30, 2024, slightly down from HKD 83,041,000 as of March 31, 2024, indicating a decrease of about 1.1%[56] Revenue and Sales - For the six months ended September 30, 2024, external revenue totaled HKD 337,849,000, a slight decrease from HKD 338,010,000 for the same period in 2023[39] - The group's revenue for the six months ended September 30, 2024, was HKD 338 million, unchanged from the previous year, with sales from China remaining stable[67] - Sales in Hong Kong and China were HKD 5 million and HKD 333 million, representing a decrease of 11% and a slight increase of 0.2% respectively compared to the same period last year[67] Costs and Expenses - Gross profit for the period was HKD 109,639,000, down from HKD 111,737,000, reflecting a decrease in gross margin[11] - The gross profit margin for the period was 32%, slightly down from 33% in the previous year[67] - Distribution costs increased by 4% to HKD 48 million, primarily due to rising rental and employee expenses[67] - Administrative expenses decreased by 39% to HKD 11 million, influenced by a foreign exchange gain of HKD 6 million from property investments in the UK[68] - The total cost of inventory recognized as an expense was HKD 228,210,000 for the six months ended September 30, 2024, slightly up from HKD 226,273,000 in 2023, showing a marginal increase of 0.9%[43] Cash Flow and Liquidity - The company reported a decrease in cash and cash equivalents to HKD 126,415,000 from HKD 164,940,000, indicating a reduction in liquidity[15][11] - As of September 30, 2024, total cash reserves were HKD 126 million, down from HKD 165 million as of March 31, 2024, mainly due to loan repayments and dividend payments[69] - The group's bank borrowings amounted to HKD 119 million as of September 30, 2024, compared to HKD 159 million as of March 31, 2024[69] Business Operations - The company continues to focus on watch sales and property leasing as its primary business activities, with no new product launches or major acquisitions reported during this period[19][11] - The operating profit for the watch sales segment was HKD 50,406,000, while the leasing segment reported an operating profit of HKD 5,554,000, resulting in a total operating profit of HKD 55,960,000[32] - The group is currently operating five stores in China and aims to enhance cost efficiency while focusing on core store operations[72] - The group is committed to strengthening its financial position and is confident in improving business performance while adopting a prudent approach to future expansions[72] Governance and Compliance - The company has adopted a code of conduct for directors regarding securities trading, which meets or exceeds the standards set out in the listing rules[78] - All directors confirmed compliance with the code of conduct during the review period[79] - The board has decided not to declare an interim dividend for the six months ending September 30, 2024 (2023: none)[80] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the six months ending September 30, 2024[81] Employee Information - As of September 30, 2024, the group employed a total of 106 employees, offering competitive compensation packages in line with market trends[82]

Financial Performance - The Group achieved a net profit of HK$26 million this year, down 41% from HK$44 million last year[17]. - The Group's revenue for the year amounted to HK$705 million, comparable to HK$711 million in the previous year, with sales in China at HK$693 million, down from HK$700 million[107][119]. - Profit attributable to owners of the Company decreased by 41% to HK$26 million from HK$44 million[118]. - Basic earnings per share fell by 40% to 3.51 HK cents from 5.84 HK cents[118]. - Profit before taxation decreased to HK$65,094,000, down 25.4% from HK$87,209,000 in 2023[162]. - Profit for the year attributable to the owners of the Company was HK$26,201,000, a decline of 40.2% compared to HK$43,654,000 in 2023[162]. - Other net losses amounted to HK$1 million this year, a decrease from net gains of HK$4 million in the previous year[27]. Cash and Debt Management - Total cash balance as of March 31, 2024, was HK$165 million, a decrease from HK$194 million as of March 31, 2023, primarily due to loan repayments and dividend payments[17]. - Bank loans amounted to HK$159 million as of March 31, 2024, down from HK$174 million as of March 31, 2023[17]. - The gearing ratio was 36% as of March 31, 2024, compared to 38% as of March 31, 2023[17]. - Finance costs increased by 22% to HK$11 million this year from HK$9 million last year due to rising interest rates on bank borrowings[16]. Operational Overview - The Group currently operates 5 stores in China and aims to enhance cost efficiency while facing challenges from the slowing economy[17]. - The Group is developing its "Properties leasing" segment and has acquired two residential properties in London in previous years[17]. - The total number of stores remained stable, with locations in Beijing, Shanghai, Xiamen, and Nantong[121]. Shareholder Information - The Directors recommended a final dividend of HK$0.0348 per share for the year ended March 31, 2024, compared to HK$0.0469 in 2023[4]. - The Company has a dividend policy that allows dividends to be paid out of profits or share premium account, subject to the Directors' recommendations[63]. - As of March 31, 2024, certain individuals hold 5% or more of the Company's issued share capital, as disclosed under the SFO[45]. - As of March 31, 2024, Century Hero International Limited holds approximately 38.98% of the issued share capital of the Company[68]. - Goodideal Industrial Limited holds approximately 6.84% of the issued share capital of the Company[68]. - Covenhills Limited holds approximately 8.60% of the issued share capital of the Company[68]. Compliance and Governance - The Group has complied with all relevant laws and regulations in China, Switzerland, and Hong Kong that significantly impact its operations as of March 31, 2024[63]. - The Company has maintained the prescribed public float under the Listing Rules as of the date of the annual report[73]. - No Directors have interests in competing businesses according to the Listing Rules as of the report date[66]. - The company disclosed that there were no interests or short positions in shares by Directors or chief executives that required notification under the SFO as of March 31, 2024[135]. Environmental and Social Responsibility - The environmental, social, and governance report is detailed on pages 38 to 45 of the annual report, highlighting initiatives to reduce disposable product usage and water consumption[60]. - The Group emphasizes environmental protection and sustainable development, implementing measures such as energy-saving practices and recycling initiatives[73]. - The Group recognizes employees as valuable assets and regularly reviews staff benefits for improvement, ensuring compliance with labor laws in Hong Kong and China[63]. - The Group made charitable donations during the year, reflecting its commitment to social responsibility[63]. Financial Statements and Reporting - The financial statements comply with all applicable Hong Kong Financial Reporting Standards (HKFRSs) and disclosure requirements of the Hong Kong Companies Ordinance[143]. - The consolidated financial statements for the year ended 31st March 2024 include the Company and its subsidiaries[143]. - The financial statements are presented in thousands of Hong Kong dollars (HK$'000)[143]. - The analysis of the Group's performance during the year using financial key performance indicators is included in the "Management Discussion and Analysis" section[4]. Lease and Asset Management - The Group recognizes a right-of-use asset and a lease liability at the lease commencement date, except for short-term leases of 12 months or less and leases of low-value assets[184]. - Lease liability is initially recognized at the present value of lease payments, discounted using the interest rate implicit in the lease or a relevant incremental borrowing rate[184]. - The cost of right-of-use assets includes the initial amount of lease liabilities plus any rent paid before the commencement date, minus any lease incentives received[189]. - The Group presents lease liabilities as a separate line item on the consolidated statement of financial position[200].

Revenue and Profitability - The group's revenue for the year ended March 31, 2024, was HKD 705,000,000, slightly down from HKD 711,000,000 in the previous year[29]. - The sales in China amounted to HKD 693,000,000, compared to HKD 700,000,000 in the previous year, indicating stability in performance[12]. - For the fiscal year ending March 31, 2024, the company's revenue was HKD 705 million, a decrease of 1% from HKD 711 million in the previous year[50]. - The profit attributable to the company's shareholders for the same period was HKD 26 million, down 41% from HKD 44 million in the prior year[50]. - Basic earnings per share decreased to HKD 3.51 from HKD 5.84, representing a decline of 40%[51]. - Operating profit for the year was HKD 26,201,000, down from HKD 43,654,000 in the previous year, reflecting a decline of 40%[91]. - The company recorded a net profit of HKD 26,000,000 for the year, down from HKD 44,000,000 in the previous year, representing a decline of approximately 40.9%[117]. Expenses and Costs - Administrative expenses increased by 11% to HKD 31,000,000, mainly due to higher legal and professional fees, director remuneration, and maintenance costs[15]. - Financial costs rose by 22% to HKD 11,000,000 due to increased bank borrowing rates[16]. - The financial cost for the year was HKD 10,578,000, up from HKD 8,822,000 in the previous year, representing an increase of 19.93%[88]. - Employee benefits expenses, including directors' remuneration, totaled HKD 52,301,000, an increase from HKD 49,132,000 in the previous year, reflecting a rise of 4.43%[96]. - The distribution costs for the year amounted to HKD 100,000,000, an increase of 14% from HKD 88,000,000 in the previous year, primarily due to higher depreciation and rental expenses[115]. Assets and Liabilities - The total assets as of March 31, 2024, were HKD 773 million, a decrease of 6% from HKD 821 million in the previous year[50]. - Total assets decreased from HKD 460,703,000 in 2023 to HKD 444,517,000 in 2024, representing a decline of approximately 3.5%[67]. - The total liabilities of the company were HKD 328,088,000, a decrease from HKD 360,281,000 in the previous year, indicating a reduction of 8.92%[91]. - Non-current liabilities decreased from HKD 63,663,000 in 2023 to HKD 51,645,000 in 2024, a reduction of about 18.9%[67]. - The company's total liabilities to equity ratio improved to 36% as of March 31, 2024, compared to 38% in the previous year[118]. Investment and Valuation - The investment property valuation loss for the year was HKD 32,000,000, up from HKD 26,000,000 in the previous year, attributed to a sluggish property market in London and Hong Kong[30]. - The net loss from fair value of investment properties was HKD 31.73 million, compared to a loss of HKD 26.1 million in the previous year[52]. - The company reported a net loss from investment properties of HKD 31,731,000 for the year, compared to a loss of HKD 26,097,000 in the previous year[91]. - The company reported a net loss of HKD 120,000 from the sale of investment properties in 2024, compared to no loss in 2023[78]. Cash Flow and Dividends - The cash balance as of March 31, 2024, was HKD 165,000,000, down from HKD 194,000,000 in the previous year, primarily due to loan repayments and dividend payments[31]. - The proposed final dividend per ordinary share is HKD 0.0348, down from HKD 0.0469 in the previous year[7]. - The proposed final dividend for the year is HKD 0.26 per share, down 26% from HKD 0.35 per share in the previous year[50]. - The company approved and paid a final dividend of HKD 0.0469 per ordinary share for the previous fiscal year, down from HKD 0.0536 per share in 2023, totaling HKD 35,040,000 compared to HKD 40,046,000 in the prior year[109]. Strategic Focus and Governance - The company plans to maintain a cautious approach in future expansions while focusing on core stores and improving operational efficiency[34]. - The company will continue to review and improve its corporate governance practices to ensure prudent regulation of business operations and decision-making processes[38]. - The company is developing its "leasing properties" segment, in addition to its core business of "watch sales," with investments in two residential properties in London[120]. - The company has implemented monitoring of foreign exchange risks and will use financial instruments to hedge when necessary[119]. Revenue Sources and Performance - Revenue from watch sales was HKD 696,162,000 in 2024, slightly down from HKD 701,523,000 in 2023, indicating a decrease of approximately 0.5%[82]. - Rental income from investment properties increased from HKD 7,414,000 in 2023 to HKD 8,295,000 in 2024, reflecting an increase of about 11.9%[82]. - Interest income from financial assets calculated at amortized cost rose to HKD 2,555,000 in 2024 from HKD 1,918,000 in 2023, marking an increase of approximately 33.2%[78]. - The company reported a decrease in advertising revenue from HKD 945,000 in 2023 to HKD 494,000 in 2024, a decline of approximately 47.8%[78]. - The company had no revenue from any single external customer accounting for 10% or more of total revenue for the years ended March 31, 2024, and March 31, 2023[87]. Taxation - The company has no tax provisions in Hong Kong due to accumulated tax losses exceeding estimated taxable profits[105]. - The company has no estimated taxable profits in Switzerland and the United States, resulting in no tax provisions for these jurisdictions[106][107].

Financial Performance - For the six months ended September 30, 2023, the operating revenue increased by 16% to HKD 338,010,000 compared to HKD 290,881,000 in the same period last year[2]. - The profit attributable to the company's shareholders surged by 339% to HKD 30,715,000, up from HKD 6,989,000 in the previous year[2]. - Basic and diluted earnings per share rose by 337% to HKD 4.11, compared to HKD 0.94 in the prior year[2]. - Gross profit for the period was HKD 111,737,000, representing an increase from HKD 94,931,000, with a gross margin improvement[5]. - The company reported a total comprehensive income of HKD 21,596,000 for the period, compared to a total comprehensive loss of HKD 14,897,000 in the previous year[6]. - The company reported a net profit of HKD 30,715,000 for the period, compared to HKD 6,989,000 for the same period in 2022, indicating a significant increase in profitability[36]. - The group's revenue for the six months ended September 30, 2023, was HKD 338 million, a 16% increase from HKD 291 million in the same period last year[74]. - The group recorded a net profit of HKD 31 million for the period, compared to HKD 7 million in the same period last year[76]. Assets and Liabilities - Total assets decreased by 9% to HKD 744,000,000 from HKD 821,000,000 as of March 31, 2023[2]. - Total assets as of September 30, 2023, amounted to HKD 733,896,000, with segment assets for watch sales at HKD 353,473,000 and rental properties at HKD 374,105,000[34]. - The total liabilities for the group were HKD 296,609,000, with segment liabilities for watch sales at HKD 235,873,000 and rental properties at HKD 23,311,000[34]. - Trade receivables, net of impairment, increased to HKD 60,409,000 as of September 30, 2023, from HKD 56,790,000 as of March 31, 2023[57]. - Trade payables amounted to HKD 2,468,000 as of September 30, 2023, compared to HKD 1,939,000 as of March 31, 2023[59]. Cash Flow and Liquidity - The cash and cash equivalents decreased significantly to HKD 118,059,000 from HKD 194,441,000, indicating a liquidity contraction[8]. - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 29,407,000, an increase of 48.9% compared to HKD 19,750,000 in the same period of 2022[14]. - Cash used in investing activities amounted to HKD 6,289,000, a decrease of 38.8% from HKD 10,301,000 in the previous year[14]. - The net cash used in financing activities was HKD 90,619,000, a slight improvement from HKD 97,595,000 in the prior year[14]. - The ending cash and cash equivalents balance as of September 30, 2023, was HKD 118,059,000, up from HKD 102,074,000 year-over-year[14]. - The company reported a decrease in cash and cash equivalents of HKD 67,501,000 for the period, compared to a decrease of HKD 88,146,000 in the previous year[14]. - As of September 30, 2023, the group's cash balance was HKD 118 million, down from HKD 194 million as of March 31, 2023, primarily due to loan repayments and dividend payments[77]. Shareholder Information - As of September 30, 2023, Lin Jin-feng holds 442,234,400 shares, representing 59.19% of the total issued share capital[90]. - Yang Yu holds 2,087,472 shares, accounting for 0.28% of the total issued share capital[90]. - Yang Feng-ming owns 707,400 shares, which is 0.09% of the total issued share capital[90]. - Major shareholders include Shih Hsiung International Limited with 291,210,668 shares (38.98%), Chanchhaya Trustee Holding Corporation with 59,176,800 shares (7.92%), Goodideal Industrial Limited with 51,133,864 shares (6.84%), and Covenhills Limited with 64,255,243 shares (8.60%)[96]. Corporate Governance - The company adheres to high standards of corporate governance, maintaining transparency and accountability to all shareholders[84]. - The board confirms compliance with the code of conduct regarding securities trading during the review period[88]. - The company did not report any changes in the interests of directors or senior executives in the company's shares or related securities as of September 30, 2023[97]. Operational Highlights - The company is actively exploring market expansion opportunities and new product development strategies to drive future growth[4]. - The company did not declare an interim dividend for the period, maintaining a focus on reinvestment[2]. - The company employed a total of 104 employees as of September 30, 2023, offering competitive compensation packages and discretionary bonuses to motivate staff[101]. - The group currently operates 5 stores in China, focusing on core stores and streamlining operational costs to enhance cost efficiency per store[80]. - The future business outlook for these stores depends on the economic recovery in China post-COVID-19[80]. Expenses and Costs - Distribution costs increased by 6% to HKD 46 million, up from HKD 44 million in the previous year, primarily due to higher depreciation, entertainment, and rental expenses[74]. - Administrative expenses decreased by 46% to HKD 18 million from HKD 33 million in the previous year, largely due to reduced losses from investment properties in the UK[74]. - Financial costs rose by 28% to HKD 5 million, up from HKD 4 million, due to increased bank loan interest[75]. - The total cost of inventory recognized as an expense was HKD 226,273,000 for the six months ended September 30, 2023, compared to HKD 195,950,000 in the previous year[45]. - The company reported a reversal of inventory write-downs amounting to HKD (1,677,000) for the six months ended September 30, 2023, compared to HKD (1,983,000) in the same period of 2022[45]. Taxation and Interest - The income tax expense for the six months ended September 30, 2023, was HKD 16,672,000, slightly down from HKD 17,099,000 in the previous year[47]. - Interest income from bank deposits rose to HKD 2,049,000, up from HKD 1,622,000, reflecting improved cash management[14]. - Interest income for the six months ended September 30, 2023, was HKD 2,094,000, up from HKD 1,628,000 in the previous year[44]. Strategic Initiatives - The company has completed renovation work on one property acquired in previous years and is evaluating current market conditions for strategic decisions[80]. - Another property is progressing well according to the original schedule and budget[80]. - The group is committed to enhancing its financial strength and is confident in improving business performance while adopting a prudent approach to future expansions[81].

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，並明確表示概不就因本公告全部或任何 部分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。 ASIA COMMERCIAL HOLDINGS LIMITED 冠 亞 商 業 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：104） 截至二零二三年九月三十日止六個月 未經審核中期業績公告 截至九月三十日止六個月 二零二三年 二零二二年 變動 千港元 千港元 百分比 （未經審核） （未經審核） 經營 營業收入 338,010 290,881 16 歸屬於本公司持有人之溢利 30,715 6,989 339 每股盈利 －基本及攤薄 4.11港仙 0.94港仙 337 ...

Financial Performance - The company reported a consolidated profit of $XX million for the fiscal year, representing a YY% increase compared to the previous year[53]. - The Group's revenue for the year ended March 31, 2023, was HK$711 million, a decrease of 9% from HK$785 million in the previous year[30]. - The Group achieved a net profit of HK$44 million this year, down from HK$83 million last year, reflecting a decline of approximately 47%[48]. - The final dividend proposed after the reporting period is HK$35 cents per share, down 13% from HK$40 cents last year[30]. - The final dividend recommended is HK$0.0469 per share, down from HK$0.0536 per share last year[68]. User and Market Growth - User data showed an increase in active users to ZZ million, up by AA% year-over-year[60]. - The company plans to expand its market presence in the Asia-Pacific region, targeting a growth rate of EE% over the next two years[60]. - The luxury retail sentiment in China remains stable, with expectations for improvement as the pandemic is under control[51]. Revenue Segments - New product launches are expected to contribute an additional $DD million in revenue, with a focus on innovative technology[60]. - The "Sale of watches" segment generated total revenue of HK$702 million this year, continuing to be a key revenue driver[35]. - Revenue from the "Properties leasing" segment fell by 42% to HK$7 million compared to HK$12 million last year due to vacancy issues[35]. Cost Management and Efficiency - The company aims to improve operational efficiency, targeting a reduction in costs by HH% over the next fiscal year[60]. - Distribution costs decreased by 15% to HK$88 million from HK$104 million last year, attributed to lower staff-related costs and rental expenses[41]. - Administrative expenses rose by 8% to HK$28 million compared to HK$26 million last year, mainly due to increased exchange losses[41]. Research and Development - Research and development expenses increased by GG%, reflecting the company's commitment to innovation[60]. Corporate Governance - The company has appointed Ms. Lam Kim Phung as the Chairman of the Board and the chairman of the Nomination Committee, ensuring compliance with corporate governance codes[180]. - The Board will continuously review and improve corporate governance practices to ensure prudent decision-making[192]. - All Directors confirmed compliance with the Model Code and Code of Conduct for the year ended March 31, 2023[195]. Sustainability and Social Responsibility - The board of directors emphasized a focus on sustainable practices, aiming for a reduction in carbon footprint by JJ% by 2025[60]. - The Group emphasizes environmental protection and sustainable development, implementing measures such as energy-saving initiatives and recycling programs[159]. - The company is committed to reducing disposable product usage and water consumption in its offices[170]. - The company made multiple charitable donations during the year[168]. Financial Position and Ratios - As of March 31, 2023, the Group's total cash balance was HK$194 million, a decrease from HK$208 million on March 31, 2022[49]. - The gearing ratio was 38% as of March 31, 2023, compared to 37% on March 31, 2022[49]. - Finance costs increased by 50% to HK$9 million this year from HK$6 million last year due to rising interest rates on bank borrowings[47]. Store Operations - The total number of stores decreased from 6 to 5, with one store in Beijing closing[39]. - The Group operates 5 stores in China and aims to enhance cost efficiency by streamlining operating costs[51]. Supplier and Customer Relations - The largest supplier contributed approximately 92% of total purchases for the year, indicating a high dependency on a single supplier[86]. - The total sales from the top five customers accounted for only 0.3% of the group's total sales during the year[95]. - The company has maintained effective communication with suppliers and established long-term stable relationships, with no significant disputes reported this year[166]. Shareholding and Directors - As of March 31, 2023, Ms. Lam Kim Phung held 441,484,400 shares, representing approximately 59.09% of the total issued share capital[108]. - The Company entered into a Sub-Tenancy Agreement with Honour Rich International Limited for a term of 26.5 months at a monthly rental of HK$359,706, which was renewed for 24 months at HK$163,713[119][123]. - No significant transactions, arrangements, or contracts involving Directors' interests were reported during the year[130].

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，並明確表示概不就因本公告全部或任何 部分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。 ASIA COMMERCIAL HOLDINGS LIMITED 冠 亞 商 業 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：104） 截至二零二三年三月三十一日止年度之 全年業績公告 財務摘要 二零二三年 二零二二年 變動 百萬港元 百萬港元 % 經營 營業收入 711 785 (9) 歸屬於本公司持有人之溢利 44 84 (48) 每股盈利－基本 5.84港仙 11.22港仙 (48) 已宣派及支付之中期股息 – 40 不適用 報告期末後建議派發之末期股息 35 40 (13) ...

2022 R 冠亞商業集團有限公司 財務摘要 截至九月三十日止六個月 二零二二年 二零二一年 變動 千港元 千港元 百分比 （未經審核） （未經審核） 經營 營業收入 290,881 430,559 (32) 歸屬於本公司持有人之溢利 6,989 35,356 (80) 每股盈利 －基本及攤薄 0.94港仙 4.73港仙 (80) 已宣派之中期股息 – 40,046 不適用 於二零二二年 九月三十日 於二零二二年 三月三十一日 變動 百萬港元 百萬港元 百分比 （未經審核） （經審核） 財務狀況 總資產 741 870 (15) 歸屬於本公司持有人之權益 414 468 (12) 01 冠亞商業集團有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公司（「本 集團」）截至二零二二年九月三十日止六個月之未經審核簡明綜合中期報告連同去年同 期比較數字。該中期財務報告已由本公司之審核委員會審閱。 簡明綜合損益表 截至二零二二年九月三十日止六個月 截至九月三十日 止六個月 二零二二年 二零二一年 附註 千港元 千港元 （未經審核） （未經審核） 營業收入 5 290,881 430,559 銷售成本 ( ...