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 ( ...

Financial Performance - The company reported a consolidated profit or loss statement showing significant financial performance metrics, with total revenue reaching HKD 1.2 billion, representing a 15% increase year-over-year[3]. - The Group's revenue for the year was HK$785 million, a decrease of 33% from HK$1,165 million last year, primarily due to the termination of the watches wholesale business in China and the closure of the only retail store in Hong Kong[48]. - The group achieved a net profit of HK$83 million for the year, compared to a net profit of HK$56 million in the previous year[62][69]. - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of 10% to 12% driven by new product launches and market expansion strategies[3]. Customer and Market Growth - User data indicated a growth in customer base, with a 20% increase in active users compared to the previous year, totaling approximately 500,000 active users[3]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share within the next two years[3]. - The Group's largest supplier contributed approximately 86% of total purchases for the year, while the top five suppliers accounted for about 99.8% of total purchases[88]. Product Development and Investment - Investment in new product development was highlighted, with an allocation of HKD 50 million towards R&D initiatives aimed at enhancing product offerings and technological advancements[3]. - The "Sale of watches" segment generated total revenue of HK$770 million this year, continuing to play a key role in the Group's operations[48]. Operational Efficiency - The company reported a 5% increase in gross margin, reaching 40%, attributed to cost control measures and operational efficiencies[3]. - Gross profit margin increased by 9% to 29% due to an improved product mix with higher gross profit margins[51]. - Distribution costs amounted to HK$104 million, a 13% decrease from HK$119 million last year, due to reductions in staff-related costs and amortization charges[52]. - Administrative expenses decreased by 32% to HK$26 million compared to HK$38 million last year, mainly due to lower professional fees and consultancy costs[52]. Sustainability and Corporate Responsibility - Future guidance includes a commitment to sustainability initiatives, with a target to reduce carbon emissions by 30% over the next five years[3]. - The Group emphasizes environmental protection and sustainable development, implementing measures such as energy-saving initiatives and recycling programs[116]. - No charitable donations were made by the Group during the year[124]. Corporate Governance - The Company has complied with all code provisions in the Corporate Governance Code throughout the year ended March 31, 2022, except for certain deviations related to the Chairman position[132]. - The position of the Chairman was vacant until June 30, 2022, when Ms. Lam Kim Phung was appointed as the Chairman of the Board[132]. - The Board has recognized that the current arrangement for Directors has proven effective over several years[142]. - The Company has adopted a code for securities transactions by Directors that meets or exceeds the standards set out in the Model Code[142]. Risk Management and Internal Control - The Board has overall responsibility for overseeing the Group's risk management and internal control systems to ensure their effectiveness[196]. - The Company has established a risk management policy to identify, evaluate, and manage principal risks affecting the business[196]. - The internal audit department was established to review the effectiveness of the internal control system, which includes financial, operational, and compliance controls[196]. Shareholder Communication - The Company is committed to timely, accurate, and detailed disclosure of material information about the Group[196]. - The Company uses various communication tools to keep shareholders informed, including general meetings and reports[200]. - The procedure for voting by poll has been read out by the chairman at general meetings to ensure transparency[200].

Financial Performance - For the six months ended September 30, 2021, the operating revenue was HKD 430,559,000, a decrease of 10% compared to HKD 476,513,000 in the same period of 2020[3] - The profit attributable to the owners of the company for the same period was HKD 35,356,000, down 12% from HKD 40,109,000 in 2020[3] - Basic and diluted earnings per share decreased to HKD 4.73 from HKD 5.37, representing a 12% decline[3] - Gross profit for the six months was HKD 111,381,000, compared to HKD 101,402,000 in the previous year, indicating an increase of 9.5%[7] - The total comprehensive income for the period was HKD 37,608,000, down from HKD 46,495,000, a decrease of 19%[11] - The company reported a net profit of HKD 34,756 for the period, after accounting for income tax expenses of HKD 21,365[40] - The company recorded a net profit of HKD 35 million for the period, down from HKD 40 million in the same period last year[105] Assets and Liabilities - Total assets as of September 30, 2021, were HKD 753,000,000, an 8% decrease from HKD 815,000,000 as of March 31, 2021[3] - The total assets as of September 30, 2021, amounted to HKD 752,513, with reportable segment assets of HKD 722,286[44] - The total liabilities as of September 30, 2021, were HKD 300,710, with reportable segment liabilities of HKD 256,106[44] - The company's total liabilities as of September 30, 2021, were HKD 101,342,000, slightly up from HKD 99,917,000 as of March 31, 2021[76] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2021, was HKD 118,386, an increase of 127.5% compared to HKD 52,116 in 2020[20] - The total cash and cash equivalents at the end of the period were HKD 145,412, up from HKD 84,045 in the previous year, reflecting a growth of 73.0%[20] - The company’s total cash balance was HKD 145 million, up from HKD 131 million as of March 31, 2021, primarily due to increased operating cash flow[105] Dividends - The company declared an interim dividend of HKD 40,046,000, which was not applicable in the previous year[3] - The company declared an interim dividend of HKD 0.0536 per share for the six months ended September 30, 2021, compared to no dividend in the same period of 2020[134] Shareholder Information - Major shareholder Ms. Lin Jinfeng holds 441,484,400 shares, representing approximately 59.09% of the total issued share capital[125] - Major shareholder Shih Hsiung International Limited holds 291,210,668 shares, representing approximately 38.98% of the total issued share capital[125] - Major shareholder Chanchhaya Trustee Holding Corporation holds 59,176,800 shares, representing approximately 7.92% of the total issued share capital[125] Operational Highlights - The company plans to focus on its core retail business while also developing its leasing property segment, having acquired two prestigious residential properties in London in previous years[108] - The company aims to enhance operational efficiency and cost-effectiveness in its stores in China, where it currently operates six locations[108] - The company anticipates that the luxury retail market in China will continue to improve as the COVID-19 pandemic is further controlled[108] Employee Information - The company employed a total of 119 employees as of September 30, 2021, offering competitive compensation packages[137] - The company’s employee costs, including directors' fees and remuneration, amounted to HKD 26,277,000 for the six months ended September 30, 2021, down from HKD 28,555,000 in 2020[57] Risk Management and Governance - The financial risk management policies have remained unchanged since the end of the last fiscal year, indicating stability in risk management practices[29] - The board will continue to review and improve the company's corporate governance practices to ensure proper regulation of business operations and decision-making processes[117] Other Financial Metrics - The company incurred total interest expenses of HKD 2,981,000 for the six months ended September 30, 2021, compared to HKD 5,242,000 in 2020, reflecting a decrease of 43.93%[57] - The company's debt-to-equity ratio was 21% as of September 30, 2021, down from 40% as of March 31, 2021[105] - The gross profit margin increased by 5% to 26% due to an improved product mix with higher margins[104]

Financial Performance - The company reported a consolidated profit of $X million for the fiscal year, representing a Y% increase compared to the previous year[3]. - The Group's revenue for the year amounted to HK$1,165 million, representing a 46% increase compared to HK$800 million in the previous year[25]. - The Group achieved a net profit of HK$59 million this year, a significant recovery from a net loss of HK$146 million last year, driven by strong retail sales performance[39]. User and Market Growth - User data showed an increase in active users to Z million, reflecting a growth rate of A% year-over-year[3]. - The company provided a forward guidance of $B million in revenue for the next quarter, indicating a projected growth of C%[3]. - New product launches contributed to a D% increase in sales, with specific emphasis on the success of the E product line[3]. - Market expansion efforts have led to entry into G new regions, expected to generate an additional $H million in revenue[3]. Investments and Acquisitions - The company is investing $F million in R&D for new technologies aimed at enhancing operational efficiency and product offerings[3]. - The company completed an acquisition of I, which is anticipated to enhance its market position and add $J million in annual revenue[3]. - Strategic partnerships have been established with J companies to leverage synergies and drive growth in key markets[3]. Cost Management and Profitability - The company has implemented cost-cutting measures that are projected to save $K million annually, improving overall profitability[3]. - Distribution costs decreased by 26% to HK$119 million from HK$161 million last year, primarily due to reduced amortization charges for right-of-use assets[29]. - Administrative expenses fell by 19% to HK$38 million compared to HK$47 million last year, mainly due to lower bank charges, consultancy fees, and director's remuneration[29]. Asset and Equity Changes - Total assets increased slightly to HK$815 million from HK$807 million, a 1% rise[19]. - Equity attributable to owners of the Company rose by 21% to HK$414 million from HK$343 million[19]. - The Group's total cash balance as of March 31, 2021, was HK$131 million, up from HK$69 million on March 31, 2020[39]. Corporate Governance - The Company has maintained a high standard of corporate governance practices throughout the year ended March 31, 2021, except for certain deviations from the Corporate Governance Code[121]. - The position of Chairman has been vacant since the passing of Mr. Eav Yin on September 4, 2020, with executive duties shared among remaining executive directors[121]. - The Board currently comprises two Executive Directors and three independent non-executive Directors[145]. Environmental and Social Responsibility - The Group emphasizes environmental protection and sustainable development, implementing measures such as energy-saving practices and recycling initiatives[111]. - The Group promotes energy saving by encouraging staff to switch off air-conditioning and lighting before leaving the office[111]. - The Group did not make any charitable donations during the year[113]. Remuneration and Training - The total remuneration of the auditors for statutory audit services is HK$1,200,000 for the year ended March 31, 2021, compared to HK$1,270,000 in 2020[180]. - The Remuneration Committee held one meeting during the year to assess the performance of executive directors and senior management[178]. - The Company has arranged training for all Directors to refresh their knowledge and skills during the year[195]. Compliance and Regulations - The Company has confirmed compliance with the disclosure requirements of Chapter 14A regarding continuing connected transactions[69]. - The Group has complied with all relevant laws and regulations in mainland China, Switzerland, and Hong Kong that significantly impact the Group as of March 31, 2021[113]. - The Company has maintained the prescribed public float under the Listing Rules as of the date of the annual report[109].

Financial Performance - For the six months ended September 30, 2020, the operating revenue was HKD 476,513,000, a decrease of 1% compared to HKD 482,213,000 in the same period of 2019[3] - The profit attributable to the owners of the company increased by 88% to HKD 40,109,000, compared to HKD 21,303,000 in the previous year[3] - Basic and diluted earnings per share rose to HKD 5.37, an increase of 88% from HKD 2.85 in the prior year[3] - Gross profit for the period was HKD 101,402,000, down from HKD 127,344,000, indicating a decrease in gross margin[7] - The total comprehensive income for the period was HKD 46,495,000, compared to HKD 14,422,000 in the same period last year[11] - The company reported a net profit of HKD 39,282,000 for the period ending September 30, 2020[41] - The company recorded a net profit of HKD 40 million for the period, compared to HKD 21 million in the same period last year, with a one-time gain of HKD 23 million from the reassessment of lease liabilities[93] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 825,000,000, reflecting a 2% increase from HKD 807,000,000 as of March 31, 2020[3] - Equity attributable to owners of the company increased by 14% to HKD 391,000,000 from HKD 343,000,000 as of March 31, 2020[3] - The total assets as of September 30, 2020, amounted to HKD 824,929,000, with segment assets for watch sales at HKD 447,628,000 and rental properties at HKD 348,225,000[43] - The total liabilities were reported at HKD 437,025,000, with segment liabilities for watch sales at HKD 370,624,000 and rental properties at HKD 9,032,000[43] - The total liabilities as of September 30, 2020, were HKD 465,372,000, with current liabilities including income tax payable of HKD 4,875,000[54] - The company's total liabilities as of September 30, 2020, were HKD 109,082 million, up from HKD 98,587 million as of March 31, 2020, reflecting an increase of approximately 10.2%[76] Cash Flow and Financing - The company reported a net cash position of HKD 84,045,000 as of September 30, 2020, down from HKD 69,121,000 as of March 31, 2020[13] - The net cash generated from operating activities for the six months ended September 30, 2020, was HKD 52,116,000, compared to HKD 26,509,000 for the same period in 2019, representing a 96.5% increase[19] - The net cash used in investing activities was HKD (553,000) for the six months ended September 30, 2020, significantly improved from HKD (9,100,000) in the previous year[19] - The net cash used in financing activities was HKD (38,690,000), compared to HKD (31,195,000) in the same period of 2019, indicating an increase in financing outflows[19] - The cash and cash equivalents at the end of the period increased to HKD 84,045,000 from HKD 53,138,000 year-over-year, reflecting a growth of 58.0%[19] Market and Operational Strategies - The company plans to continue exploring market expansion opportunities and enhancing product offerings in the upcoming periods[5] - The group is implementing cost control measures to tighten operating costs and enhance revenue generation strategies to maintain liquidity[25] - The group is in discussions with banks to renew and obtain new bank credit facilities to support ongoing operations[25] - The company is focusing on enhancing cost efficiency in its stores and has streamlined rental costs due to the pandemic[96] - The company is developing its leasing property business and has acquired two well-known residential properties in London in the previous year[96] Shareholder Information - As of September 30, 2020, the company had a total of 812,136 shares held by Ms. Yang Xinqi, representing approximately 0.11% of the total issued share capital[103] - Major shareholder Ms. Lin Jinfeng owned 444,201,236 shares, which is 59.45% of the total issued share capital[110] - Mr. Yang Fengming held 1,807,275 shares, accounting for approximately 0.24% of the total issued share capital, with 1,099,875 shares being stock options[107] Corporate Governance - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set by the Stock Exchange[103] - The board of directors confirmed that all directors complied with the code of conduct during the review period[103] - The company will continue to review and improve its corporate governance practices to ensure prudent regulation of business operations and decision-making processes[103] - The company has taken sufficient measures to ensure that its corporate governance practices are not less stringent than those prescribed by the code[103] Employee Information - As of September 30, 2020, the company employed 152 staff members and provided competitive compensation packages to motivate employees[121] - The company continues to focus on employee incentives through competitive compensation and share reward plans[121] Dividends and Share Options - The company did not recommend any interim dividend for the six months ended September 30, 2020, compared to a dividend of HKD 0.0256 per share in 2019[66] - The company did not declare an interim dividend for the six months ended September 30, 2020, compared to no dividend in 2019[119] - There were no stock options granted, exercised, or canceled during the six months ended September 30, 2020, with 5,975,983 unexercised stock options remaining[126] - The exercise price for the unexercised stock options as of September 30, 2020, was HKD 2.688[126] Financial Risks - The group faced various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the annual financial statements[29]

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 482,213,000, representing a 17% increase compared to HKD 411,410,000 in the same period of 2018[5]. - Profit attributable to owners of the company decreased by 21% to HKD 21,303,000 from HKD 27,100,000 year-on-year[5]. - Basic and diluted earnings per share were HKD 2.85, down 18% from HKD 3.46 in the previous year[5]. - The company reported a total comprehensive income of HKD 14,422,000, down from HKD 18,090,000 in the previous year[9]. - The net profit for the same period was HKD 20,737,000, adjusted to HKD 24,559,000 under the previous accounting standard[62]. - The company incurred financial costs of HKD 7,188,000 for the six months ended September 30, 2019, compared to HKD 236,000 for the same period in 2018[102]. - The group recorded a net profit of HKD 21 million, a slight decrease from HKD 27 million in the same period last year[145]. Assets and Liabilities - Total assets increased by 24% to HKD 1,013,000,000 as of September 30, 2019, compared to HKD 816,000,000 as of March 31, 2019[5]. - The total liabilities were reported at HKD 502,721,000, with segment liabilities for watch sales at HKD 435,242,000 and property leasing at HKD 8,657,000[88]. - The carrying amount of right-of-use assets as of April 1, 2019, was HKD 236,010,000, which includes HKD 234,194,000 related to operating leases and HKD 16,203,000 from reclassification of lease prepayments, offset by HKD 14,387,000 for accrued lease liabilities related to rent-free periods[53]. - The total non-current assets value increased to HKD 679,951,000 after the adoption of HKFRS 16, compared to HKD 459,677,000 prior to the adoption[57]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 26,509,000, a decrease of 56% compared to HKD 60,301,000 in 2018[25]. - The cash and cash equivalents at the end of the period were HKD 53,138,000, down from HKD 64,022,000 in the previous year, showing a decline of approximately 17%[25]. - The principal portion of lease payments made was HKD 39,119,000, while interest payments on leases amounted to HKD 4,994,000, indicating a significant cash outflow related to financing activities[65]. Expenses - Administrative expenses increased to HKD 26,910,000 from HKD 19,451,000, indicating rising operational costs[5]. - The gross profit margin decreased by 5% to 26% due to obsolete inventory provisions[141]. - Distribution costs decreased by 5% to HKD 85 million, primarily due to reduced sales commissions and fees[141]. - The company reported a depreciation and amortization expense of HKD 3,310,000 for the six months ended September 30, 2019, compared to HKD 1,644,000 in the same period of 2018[102]. Corporate Governance - The board of directors has confirmed compliance with the corporate governance code, ensuring high levels of transparency and accountability to all shareholders[150]. - The company has taken sufficient measures to ensure that its corporate governance practices are not less stringent than those prescribed by the code[151]. - The company has a commitment to high-quality board governance and effective internal controls[150]. Business Operations - The group is primarily engaged in watch trading (retail and wholesale) and property leasing, indicating a focus on these sectors for future growth[28]. - The company is diversifying its business by developing its property leasing segment and has acquired two well-known residential properties in London last year[148]. - In August 2019, the company acquired a food manufacturing and retail business to further diversify its operations[148]. - The overall atmosphere of the luxury retail business in China remains stable, but recent events in Hong Kong have partially impacted business driven by tourists[147]. Shareholder Information - As of September 30, 2019, Mr. Yang Ren holds 459,801,236 shares, representing 61.54% of the total issued share capital[157]. - Major shareholders included Lin Jin-feng with 61.54% and Shih Hsiung International Limited with 38.98% of the issued share capital[163]. - The company declared a final dividend of HKD 0.0256 per share, totaling HKD 19,126,000, consistent with the previous year's final dividend[112]. Financial Risks - The group faces various financial risks, including market risk (foreign currency, interest rate, and price risks), credit risk, and liquidity risk, which are critical for financial management[68]. - The valuation process for financial instruments is led by a team under the financial manager, reporting directly to the CFO and the audit committee, ensuring rigorous oversight[79].

Financial Performance - The company reported a consolidated profit of $X million for the fiscal year, representing a Y% increase compared to the previous year[41] - The Group's revenue for the year amounted to HK$935 million, a decrease of 6% from HK$991 million in the previous year[43] - The "Sale of watches" segment generated revenue of HK$925 million, down 6% from HK$983 million due to reduced sales in China[43] - The Group achieved a net profit of HK$70 million, up from HK$63 million in the previous year[55] - Gross profit margin increased to 30%, compared to 22% in the previous year, attributed to lower discounts and inventory provisions[46] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of B%[41] - New product launches are expected to contribute an additional C million in revenue, with a focus on innovative technology[42] - The company is planning to expand its market presence in regions D and E, targeting a market share increase of F%[41] - Future guidance indicates an expected EBITDA margin improvement of K% over the next year[42] Operational Efficiency - Recent acquisitions are anticipated to enhance operational efficiency and are expected to generate G million in synergies[42] - The company aims to reduce operational costs by J% through process optimization initiatives[41] - Distribution costs rose to HK$177 million, a 3% increase from HK$172 million, influenced by higher entertainment expenses[47] - Administrative expenses increased by 28% to HK$41 million, up from HK$32 million, due to rising staff-related costs and professional fees[47] Market and Customer Engagement - User data showed an increase in active users by Z%, reaching a total of A million users[42] - The management discussed strategies to improve customer engagement, which is projected to increase retention rates by I%[42] - The overall sentiment in the luxury retail business is improving in Hong Kong, which is expected to positively impact the Group's business[55] Shareholder Information - Final dividend proposed after the reporting period decreased to HK$19 million from HK$20 million, a 5% decline[34] - Special dividend proposed after the reporting period was eliminated, down 100% from HK$20 million in the previous year[34] - The company repurchased a total of 36,310,000 listed shares at an average price of HK$0.481 per share, with an aggregate purchase consideration of HK$17,466,650[68] - The repurchased shares were fully cancelled, leading to a reduction in the company's issued share capital by the par value of the repurchased shares[70] Corporate Governance - The Company is committed to maintaining high standards of corporate governance practices, emphasizing a quality board of directors and sound internal control[11] - The Board consists of four Executive Directors and three independent non-executive Directors, ensuring a balanced composition for effective decision-making[162] - The independent non-executive Directors have confirmed their independence, and the Company considers all of them to be independent[164] - The Company has taken sufficient measures to ensure that its corporate governance practices are not less exacting than those in the Code[146] Compliance and Regulations - The Group complied with all relevant laws and regulations in mainland China, Switzerland, and Hong Kong during the year ended March 31, 2019[7] - The consolidated financial statements for the year ended March 31, 2019, were audited by Crowe (HK) CPA Limited[10] - There are no material uncertainties relating to events or conditions that may cast significant doubt upon the Company's ability to continue as a going concern[200] Employee and Remuneration - As of March 31, 2019, the Group employed 149 employees and offers competitive remuneration packages aligned with market trends[2] - The total remuneration of the auditors for statutory audit services was HK$1,330,000 for the year ended March 31, 2019, compared to HK$1,230,000 in 2018[193] - The Remuneration Committee held 2 meetings during the year to advise the Board on the overall policy and structure of remuneration for Directors and senior management[193]