Financial Performance - For the fiscal year ending July 31, 2021, the company's revenue decreased to HKD 112 million, down approximately 26% from HKD 151.27 million in 2020[19]. - The gross profit fell by about 23% to HKD 81.44 million, compared to HKD 105.31 million in the previous year[19]. - Revenue from the "garment and related accessories" segment dropped approximately 38% to HKD 59.14 million, down from HKD 94.87 million in 2020[19]. - The company reported a loss attributable to shareholders of HKD 1.93 million for the year, compared to a loss of HKD 290.5 million in the previous year[133]. - Total assets as of July 31, 2021, were HKD 2.2 billion, down from HKD 2.3 billion in 2020, reflecting a decrease of approximately 4.6%[133]. - Total liabilities decreased to HKD 669.1 million from HKD 779.7 million in 2020, representing a reduction of about 14.1%[133]. - The equity attributable to shareholders increased slightly to HKD 1.53 billion from HKD 1.53 billion in 2020, showing a marginal increase of 0.05%[133]. - The company made charitable donations totaling approximately HKD 84,000 during the year, significantly up from HKD 13,000 in 2020[130]. - The top five customers accounted for less than 30% of the total revenue, indicating a diversified customer base[131]. - The procurement from the top five suppliers accounted for 84.8% of total procurement, with the largest supplier contributing 23%[132]. Segment Performance - Losses in the "garment and related accessories" segment decreased by about 86% to approximately HKD 15.11 million, compared to HKD 105.25 million in 2020[20]. - Rental income from the "property investment and leasing" segment was HKD 52.86 million, slightly down from HKD 56.40 million in 2020[22]. - The "securities trading" segment reported a profit of HKD 4.67 million, recovering from a loss of HKD 17.52 million in 2020[22]. - The total comprehensive income attributable to the company's owners for the year was HKD 4.78 million, a significant improvement from a loss of HKD 292.02 million in 2020[22]. - In mainland China, the segment's revenue increased to HKD 7,687,000, up from HKD 7,248,000 in the previous year, despite a decrease in the number of stores from 14 to 13[29]. - Royalty income from the "Crocodile" brand in Hong Kong, Macau, and mainland China rose to HKD 5,098,000, compared to HKD 2,354,000 in the previous year[30]. Dividend and Shareholder Information - The board of directors has decided not to recommend a final dividend for the fiscal year ending July 31, 2021[23]. - No interim dividend was declared during the year, consistent with the previous year[24]. - The group did not recommend the payment of a final dividend for the year, consistent with the previous year where no interim dividend was declared[60]. - The company reported a total of 947,543,695 shares issued as of July 31, 2021[103]. - Dr. Lin Jianming held 491,203,000 shares, representing approximately 51.84% of the total issued shares[112]. - Rich Promise Limited owned 472,200,000 shares, accounting for about 49.83% of the total issued shares[111]. Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors, meeting the minimum requirements set by the listing rules[154]. - The company has established specific committees, including an executive committee, audit committee, and remuneration committee, to assist the board in its functions[150]. - The board has delegated daily management of the company to the management team and the executive committee, focusing on long-term goals and strategies[151]. - The company has adopted a nomination policy to enhance the transparency of the nomination process since January 2019[150]. - The company has ensured that all independent non-executive directors meet the independence criteria as per the listing rules[159]. - The company has established a governance policy that emphasizes accountability, transparency, fairness, and integrity, which has been in place for several years[176]. - The independent auditor's representative participated in the review of the audited financial statements, ensuring transparency and accuracy in financial reporting[180]. Risk Management and Financial Position - The group adopts a conservative strategy in treasury management, regularly monitoring interest and foreign exchange risks[43]. - As of July 31, 2021, the group's cash and cash equivalents amounted to HKD 40,953,000, a decrease of 52.6% from HKD 86,402,000 in 2020[44]. - The total outstanding borrowings, including margin loans, were HKD 559,628,000, with secured margin loans at HKD 4,396,000 and secured bank term loans at HKD 214,992,000[45]. - The debt-to-equity ratio as of July 31, 2021, was approximately 37%, indicating a cautious approach to business development amid global economic volatility[46]. - The group pledged assets with a book value of HKD 1,713,651,000 as collateral for bank credit facilities[48]. Workforce and Employment - As of July 31, 2021, the total number of employees was 157, down from 203 in 2020, reflecting a reduction in workforce[51]. Strategic Focus and Future Plans - The company plans to focus on local consumer preferences and maintain operational efficiency due to reliance on local consumption in the upcoming fiscal year[35]. - The company will offer favorable leasing terms to attract and retain key tenants in response to declining demand for commercial properties[35]. - The group aims to streamline its logistics structure to enhance operational efficiency[40]. - The company continues to focus on its core business in fashion manufacturing, retail, and property investment in Hong Kong and mainland China, with no significant changes in business nature[57]. Compliance and Reporting - The financial statements are prepared in accordance with statutory requirements and appropriate financial reporting standards[195]. - The audit committee held two meetings during the year and reviewed the audited consolidated financial statements for the year ended July 31, 2020, and the unaudited interim results for the six months ended January 31, 2021[180]. - The company has not disclosed any new product developments or market expansions in the current report[120]. - The company did not report any major acquisitions or mergers during the fiscal year[119].

Financial Performance - The company reported a revenue of HKD 59,455,000 for the six months ended January 31, 2021, a decrease of 35.4% compared to HKD 91,959,000 in the same period last year[9]. - Gross profit for the same period was HKD 41,538,000, down 33.9% from HKD 62,839,000 year-on-year[9]. - The company recorded a profit attributable to owners of HKD 10,412,000, a significant recovery from a loss of HKD 176,677,000 in the previous year[8]. - Total comprehensive income for the period was HKD 17,214,000, compared to a loss of HKD 177,341,000 in the prior year[10]. - Basic and diluted earnings per share were HKD 1.10, recovering from a loss of HKD 18.65 per share in the previous year[10]. - The group reported a loss before tax of HKD 10,412,000, compared to a loss of HKD 177,083,000 in the same period last year, indicating an improvement in financial performance[25]. - The group recorded a loss of HKD 91,000 for the six months ended January 31, 2021, compared to a loss of HKD 43,627,000 in 2020[74]. - Total comprehensive income attributable to the company's owners for the six months ended January 31, 2021, was HKD 17,214,000, a significant improvement from a loss of HKD 177,341,000 in 2020[75]. Revenue Breakdown - Total revenue for the six months ended January 31, 2021, was HKD 70,172,000, a decrease of 25.4% compared to HKD 94,049,000 for the same period in 2020[25]. - Revenue from the garment and related accessories business was HKD 42,889,000, down 34.3% from HKD 65,338,000 in the previous year[25]. - The property investment and leasing business generated revenue of HKD 27,283,000, a decrease of 5.0% from HKD 28,711,000 in the prior year[25]. - Revenue from the "garment and related accessories" segment dropped by 48.6% to HKD 32,603,000, compared to HKD 63,377,000 in the previous year[74]. - Rental income from property investment and leasing business for the six months ended January 31, 2021, was HKD 26,852,000, down from HKD 28,582,000 in 2020[75]. - The apparel and related accessories segment generated revenue of HKD 4,825,000 in mainland China for the six months ended January 31, 2021, compared to HKD 4,464,000 in 2020[80]. Cost Management - Selling and distribution expenses decreased to HKD 23,759,000 from HKD 65,224,000, reflecting cost-cutting measures[9]. - Administrative expenses were reduced to HKD 24,445,000 from HKD 29,071,000, showcasing improved operational efficiency[9]. - Financing costs decreased to HKD 5,658,000 for the six months ended January 31, 2021, down from HKD 11,598,000 in the previous year, reflecting a reduction of 51%[30]. - Rental expenses and depreciation for retail stores significantly decreased following the impairment loss of HKD 39,349,000 recognized at the end of the previous fiscal year[74]. Asset Management - As of January 31, 2021, total assets amounted to HKD 1,939,872 thousand, slightly down from HKD 1,941,325 thousand as of July 31, 2020[12]. - The company’s inventory decreased to HKD 36,413 thousand from HKD 49,116 thousand year-over-year, indicating improved inventory management[12]. - The company’s non-current assets totaled HKD 1,939,872 thousand, with investment properties accounting for HKD 1,725,512 thousand[12]. - The carrying amount of investment properties at the end of the period was HKD 1,725,512,000, slightly down from HKD 1,727,756,000 at the end of the previous period[41]. - The fair value loss of investment properties held by the group was HKD 3,965,000 as of January 31, 2021, significantly lower than HKD 129,721,000 in 2020[75]. Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 24,399 thousand for the six months ended January 31, 2021, compared to a net outflow of HKD 9,100 thousand for the same period in 2020[16]. - The net cash and cash equivalents at the end of the period were HKD 76,461 thousand, down from HKD 86,402 thousand at the beginning of the period[16]. - As of January 31, 2021, the group held cash and cash equivalents amounting to HKD 76,461,000, a decrease of 11.1% from HKD 86,402,000 as of July 31, 2020[94]. - The total outstanding borrowings, including margin loans, amounted to HKD 626,162,000 as of January 31, 2021, with short-term bank loans constituting HKD 398,859,000[94]. - The debt-to-equity ratio was reported at 41% as of January 31, 2021, indicating a cautious approach to business development amid global economic uncertainties[97]. Strategic Initiatives - The company aims to expand its market presence and enhance product offerings in the upcoming periods, although specific figures were not disclosed in the report[9]. - The company plans to optimize its market layout by relocating stores and seeking rent reductions from landlords to mitigate the adverse retail environment[87]. - The company aims to enhance the competitiveness of its investment properties to attract and retain key tenants amid declining demand for commercial real estate[88]. - The group will continue to manage its financial assets portfolio prudently to achieve sustainable returns[89]. Governance and Compliance - The company has adopted a securities trading code for directors and designated employees, confirming compliance for the six months ending January 31, 2021[107]. - The company’s governance includes compliance with the Securities and Futures Ordinance regarding the interests of directors and key executives[115]. - The Audit Committee reviewed the interim report for the six months ending January 31, 2021[137]. Employee and Management - The total number of employees, including part-time sales staff, decreased to 189 as of January 31, 2021, down from 253 in the previous year[101]. - Short-term employee benefits for key management personnel amounted to HKD 6,363,000, compared to HKD 6,726,000 in the previous year[70]. - The company expresses gratitude to all employees and management for their contributions and support[139].

Financial Performance - For the fiscal year ending July 31, 2020, the company's revenue decreased to HKD 151,267,000, down 36% from HKD 235,348,000 in 2019[22] - The gross profit fell approximately 36% to HKD 105,310,000, compared to HKD 163,334,000 in the previous year[22] - The "Garment and Related Accessories" segment experienced a revenue decline of 47% to HKD 94,868,000, resulting in a loss of HKD 105,250,000[22] - The company recorded a fair value loss of HKD 161,185,000 on investment properties, compared to a gain of HKD 57,414,000 in the previous year[23] - The "Securities Trading" segment reported a loss of HKD 17,523,000, down from a profit of HKD 5,857,000 in 2019[25] - The total comprehensive expenses attributable to the owners amounted to HKD 292,024,000, compared to a profit of HKD 28,649,000 in the previous year[25] - The company reported a loss attributable to shareholders of HKD (290,483,000) for the fiscal year, compared to a profit of HKD 30,607,000 in the previous year[131] - Total assets as of July 31, 2020, were HKD 2,306,406,000, down from HKD 2,566,190,000 in the previous year, representing a decrease of 10.1%[131] - Total liabilities increased to HKD 779,665,000 from HKD 747,425,000, marking an increase of 4.3%[131] - The total equity of the group decreased to HKD 1,526,741,000 from HKD 1,818,765,000, reflecting a decline of 16.0%[131] Dividends and Shareholder Returns - The board of directors has decided not to recommend a final dividend for the fiscal year ending July 31, 2020[26] - No interim dividend was declared during the year, consistent with the previous year[27] - The group did not recommend the payment of a final dividend for the year, consistent with the previous year[61] Operational Changes - The group operated 17 "Lacoste" retail stores as of July 31, 2020, down from 21 stores in 2019, indicating a reduction of 19.0% in store count[32] - The group has increased its number of self-operated stores in mainland China to 7 as of July 31, 2020, up from 5 in 2019, indicating a strategic focus on direct retail operations[32] - The total number of employees, including part-time sales staff, was 203 as of July 31, 2020, down from 298 in 2019[52] Investment and Financial Strategy - The group plans to enhance the quality of investment properties and offer attractive leasing terms to retain valuable tenants amid a declining non-residential property market in Hong Kong[42] - The group aims to maintain inventory at reasonable levels to mitigate the risk of excess stock, focusing on key products to meet customer preferences[39] - The group will strengthen its investment strategy in managing financial assets at fair value to maintain flexibility in a volatile financial market[42] - The group maintained a conservative treasury management strategy, regularly monitoring interest and foreign exchange risks[44] - The company has not engaged in any major investments, acquisitions, or disposals during the fiscal year ending July 31, 2020, except for a sale completed on September 12, 2019[51] Debt and Financial Position - As of July 31, 2020, the total outstanding borrowings of the group amounted to HKD 634,332,000, which includes mortgage loans of HKD 541,000,000 and margin loans of HKD 13,097,000[47] - The group's cash and cash equivalents as of July 31, 2020, were HKD 86,402,000, a decrease from HKD 105,570,000 in 2019[45] - The debt-to-equity ratio as of July 31, 2020, was 42%, indicating a cautious approach to business development amid global economic uncertainties[48] - The group had pledged assets with a book value of HKD 1,745,104,000 as collateral for bank credit facilities as of July 31, 2020[49] Corporate Governance - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors, meeting the minimum requirements set by listing rules[149] - The company has established specific committees, including an executive committee, audit committee, and remuneration committee, to assist the board in its functions[146] - The company has adopted a corporate governance policy that emphasizes accountability, transparency, fairness, and integrity, which has been in place for several years[169] - The board is responsible for overseeing the company's overall management and ensuring its sustainability while considering the interests of shareholders and other stakeholders[146] - The company has established a nomination policy to enhance the transparency of the nomination process[145] Risk Management - The board confirmed its responsibility to establish and maintain an effective risk management and internal control system to enhance operational efficiency and asset security[192] - The internal control system includes comprehensive budgeting, data reporting, and performance monitoring[192] - A risk assessment was completed, identifying and prioritizing risk factors faced by the group, with results submitted to the management and board for review[197] - The board believes that the risk management system is effective and sufficient, with actions planned to address identified areas for improvement[197] Share Options and Ownership - The company has a total of 94,754,369 shares available for issuance under the 2015 Share Option Scheme, representing 10% of the total issued shares at the time of approval[95] - As of July 31, 2020, the company has unexercised options involving a total of 2,900,000 shares, approximately 0.31% of the total issued shares[96] - The company plans to grant further options under the 2015 Share Option Scheme for up to 91,854,369 shares, which is about 9.69% of the total issued shares as of the reporting date[96] - The total number of stock options granted under the 2015 stock option plan during the year was 5,800,000, with 2,900,000 options expiring[97] - The company’s major shareholders include Lin Jianming and Rich Promise Limited, both of whom have significant control over the company’s shares[112]

Financial Performance - Revenue for the six months ended January 31, 2020, was HKD 91,959,000, a decrease compared to the previous year's revenue[8]. - Gross profit for the same period was HKD 62,839,000, reflecting a significant decline due to increased costs[8]. - The company reported a loss before tax of HKD 177,083,000, compared to a profit in the previous year[8]. - Loss attributable to shareholders for the period was HKD 176,677,000, indicating a challenging financial environment[8]. - Total revenue for the six months ended January 31, 2020, was HKD 65,338,000, a decrease of 32.5% compared to HKD 96,772,000 for the same period in 2019[75]. - Revenue from external customers in the garment and related accessories business was HKD 63,377,000, down 33.5% from HKD 95,418,000 in the previous year[75]. - The group reported a net loss of HKD 176,677,000 attributable to shareholders for the six months ended January 31, 2020, compared to a profit of HKD 41,610,000 in the same period of 2019[88]. - Financing costs increased to HKD 11,598,000, up 37.5% from HKD 8,471,000 in the previous year[81]. - The group recorded a fair value loss of HKD 129,721,000 on investment properties as of January 31, 2020, compared to a gain of HKD 51,262,000 in 2019[147]. Assets and Liabilities - Total assets as of January 31, 2020, were HKD 2,041,918,000, down from HKD 2,126,295,000 in the previous year[12]. - The company's net asset value decreased to HKD 1,641,424,000 from HKD 1,818,765,000 year-on-year[12]. - The company has a current liability net value of HKD (343,865,000), indicating liquidity challenges[12]. - The company has a current liability exceeding current assets by approximately HKD 343,865,000, raising concerns about liquidity[28]. - The total outstanding borrowings amounted to HKD 593,482,000, including various secured loans[167]. - The group’s total equity as of January 31, 2020, was HKD 332,323,000, with 947,543,695 shares issued and fully paid[101]. Cash Flow and Financing - The net cash generated from operating activities was a negative HKD 9,100,000, indicating a decrease in cash flow from operations[22]. - Cash and cash equivalents at the end of the period amounted to HKD 85,323,000, down from HKD 105,570,000 at the beginning of the period, reflecting a decrease of approximately 19.2%[22]. - The company incurred a total expenditure of HKD 177,341,000 during the period, which is a significant financial outflow[16]. - New bank loans added during the financing activities amounted to HKD 8,000,000, while repayments of bank loans totaled HKD 45,901,000, indicating a net cash outflow from financing activities of HKD 45,433,000[22]. - The company believes it has sufficient financial resources to meet its obligations in the foreseeable future, supported by good relationships with banks[28]. Inventory and Receivables - Inventory increased to HKD 55,576,000, up from HKD 48,437,000, indicating potential overstocking issues[12]. - The group's trade receivables amounted to HKD 14,828,000 as of January 31, 2020, compared to HKD 14,643,000 as of July 31, 2019, showing a slight increase of 1.3%[94]. - The group maintained a rigorous control over its receivables, with overdue balances regularly reviewed by senior management to minimize credit risk[96]. Dividends and Share Options - The company declared dividends amounting to HKD 9,475,000 to its shareholders during the period[16]. - The group did not declare any interim dividends for the six months ended January 31, 2020, consistent with the previous year[86]. - As of January 31, 2020, the company had unexercised stock options totaling 2,900,000 shares, representing approximately 0.31% of the total issued shares[108]. - The company can grant options to subscribe for up to 91,854,369 shares under the 2015 share option plan, which is about 9.69% of the total issued shares as of the reporting date[182]. Accounting Standards and Compliance - The company has applied new accounting standards, including HKFRS 16 on leases, which may impact financial reporting[34]. - The transition to HKFRS 16 did not have a significant impact on the consolidated financial statements for the period[70]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange, with some deviations noted[177]. - The company has not established a nomination committee, with its functions performed by the entire board of directors[179]. Market Conditions and Strategy - The overall real estate market in Hong Kong is expected to stagnate, with rental pressure from increased office supply in the East Kowloon area[160]. - The group aims to attract and retain key tenants to maintain stable rental income and drive market value growth[160]. - The group plans to manage its retail network prudently and control inventory to improve cash flow and financial conditions amid a challenging environment[160]. - The group's management implemented strict cost control measures in sales, marketing, and logistics to navigate the challenging market conditions[149].

Financial Performance - For the fiscal year ending July 31, 2019, the company's revenue decreased to HKD 235.35 million, down 11.2% from HKD 265.00 million in 2018[25]. - The gross profit fell approximately 9% to HKD 163.33 million, compared to HKD 180.47 million in the previous year[25]. - The overall revenue from the "Garment and Related Accessories" segment declined by 14% to HKD 178.05 million, resulting in a loss of HKD 24.49 million, an improvement from the loss of HKD 40.40 million in 2018[25]. - The total comprehensive income attributable to the company's owners for the year was HKD 28.65 million, a significant decrease from HKD 159.69 million in 2018[30]. - Profit attributable to owners of the company for the fiscal year was HKD 30,607,000, down 81.2% from HKD 162,493,000 in 2018[143]. - Total assets as of July 31, 2019, were HKD 2,566,190,000, a decrease from HKD 2,769,161,000 in 2018[143]. - Total liabilities decreased to HKD 747,425,000 in 2019 from HKD 969,570,000 in 2018, representing a reduction of 22.8%[143]. - Total equity increased slightly to HKD 1,818,765,000 in 2019 from HKD 1,799,591,000 in 2018, reflecting a growth of 1.1%[143]. Dividends and Shareholder Returns - The company decided not to declare a final dividend for the fiscal year, compared to a dividend of HKD 0.01 per share in 2018[31]. - The company did not recommend the payment of a final dividend for the year, consistent with the previous year where no interim dividend was declared[67]. - The available reserves for distribution to shareholders as of July 31, 2019, are approximately HKD 1,357,990,000[130]. Revenue Sources and Segments - Rental income from the "Property Investment and Leasing" segment was HKD 57.30 million, slightly up from HKD 57.19 million in 2018[26]. - The fair value gain from investment properties dropped by 69% to HKD 57.41 million, down from HKD 184.05 million in the previous year[26]. - The company's licensing revenue for the "Crocodile" brand in mainland China decreased to HKD 740,000 for the year ended July 31, 2019, down from HKD 908,000 in 2018[35]. - As of July 31, 2019, the company operated 13 stores in mainland China, a reduction from 16 stores in 2018, with total revenue from this category at HKD 10,052,000, down from HKD 11,424,000 in 2018[36]. - Rental income from investment properties in Hong Kong was HKD 56,018,000 for the year ended July 31, 2019, slightly down from HKD 56,042,000 in 2018, while rental income from mainland China increased to HKD 1,282,000 from HKD 1,148,000[42]. Operational Changes and Strategies - The company streamlined its logistics and administrative processes to reduce overhead costs[34]. - The company plans to enhance product displays and improve customer service to strengthen the "Crocodile" brand image amid challenges in the "Apparel and Related Accessories" segment[48]. - The company aims to restructure its sales network and logistics framework to improve operational efficiency and will continue to monitor market conditions in Hong Kong and mainland China for potential business expansion opportunities[48]. - The company will adopt a prudent strategy in managing its financial assets portfolio to avoid performance deviations in the "Securities Trading" category, despite anticipated global monetary easing[48]. Securities Trading and Investments - The company recorded a profit of HKD 5.86 million from "Securities Trading," recovering from a loss of HKD 4.06 million in the first half of the fiscal year[26]. - The company recorded a loss of HKD 4,059,000 in the first half of the fiscal year due to market volatility, but later achieved a profit of HKD 5,857,000 for the year ended July 31, 2019, compared to HKD 5,446,000 in 2018 in the "Securities Trading" category[43]. - The group did not engage in any major investments, acquisitions, or disposals during the fiscal year ending July 31, 2019[58]. - The company did not engage in any share buybacks or securities transactions during the fiscal year[134]. Governance and Management - The company has a strong governance structure with various committees, including the audit and remuneration committees, to oversee operations and executive compensation[99]. - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors, complying with the minimum requirements set by the listing rules[161]. - The company has established specific committees, including an executive committee, audit committee, and remuneration committee, to assist in effective governance[160]. - The company has a governance policy that emphasizes accountability, transparency, fairness, and integrity since March 27, 2012[181]. - The Audit Committee is responsible for monitoring the integrity of the company's financial statements and ensuring compliance with applicable standards[181]. Employee and Director Information - The total number of employees, including part-time sales staff, increased to 298 as of July 31, 2019, up from 274 in 2018[59]. - The current executive directors have extensive experience in the garment industry, with Dr. Lin Jianming having been involved in daily management since 1958[81]. - Ms. Lin Weishan has over 21 years of experience in the fashion industry and has received multiple awards for her contributions[82]. - Dr. Lin Jianyue has rich experience in property development, investment, and media, having served in various leadership roles[85]. - Mr. Lin Jiankang has extensive experience in property development and corporate financing in Hong Kong and mainland China[89]. Share Options and Ownership - The company has a total of 5,800,000 unexercised stock options under the 2015 stock option plan, representing approximately 0.61% of the total issued shares as of July 31, 2019[100]. - The maximum number of shares that can be issued under the 2015 stock option plan is 94,754,369 shares, which accounts for 10% of the total issued shares at the time of approval[100]. - The exercise price for the stock options granted ranges from HKD 0.842 to HKD 0.994 per share[104]. - The company has not granted, exercised, canceled, or expired any stock options under the 2015 stock option plan during the reporting year, aside from those mentioned[106]. - The total number of shares held by Dr. Lin and related entities amounts to 493,003,000 shares, which is 52.03% of the total issued shares[110]. Risk Management and Financial Position - The company maintains a conservative treasury management strategy, regularly monitoring interest rate and foreign exchange risks, with no significant exposure to unforeseen currency exchange risks[52]. - The total outstanding borrowings, including margin loans, amounted to HKD 619,618,000 as of July 31, 2019, with various secured loans contributing to this total[54]. - The debt-to-equity ratio was reported at 34% as of July 31, 2019, indicating a cautious approach to business development amid global economic uncertainties[57]. - As of July 31, 2019, the company reported no significant contingent liabilities[49].

Financial Performance - Revenue for the six months ended January 31, 2019, was HKD 123,886,000, a decrease of 5.5% compared to HKD 131,258,000 for the same period in 2018[5] - Gross profit for the period was HKD 83,007,000, down from HKD 85,544,000, reflecting a gross margin of 67%[5] - Profit attributable to owners of the company was HKD 41,610,000, a decline of 37.2% from HKD 66,266,000 in the previous year[5] - Total revenue for the six months ended January 31, 2019, was HKD 125,902,000, a decrease of 11.3% from HKD 142,050,000 in the same period of 2018[25] - The group reported a profit before tax of HKD 41,296,000, down from HKD 65,814,000, reflecting a decrease of 37.2%[32] - Total comprehensive income attributable to the company's owners for the six months was HKD 43,844,000, down from HKD 75,457,000 in the previous year[98] Assets and Liabilities - Total assets as of January 31, 2019, were HKD 2,185,041,000, an increase from HKD 2,132,221,000 as of July 31, 2018[7] - The net asset value increased to HKD 1,833,960,000 from HKD 1,799,591,000 year-on-year[7] - The company’s total liabilities decreased to HKD 649,083,000 from HKD 714,205,000[7] - The total bank borrowings as of January 31, 2019, were HKD 707,181,000, a decrease from HKD 801,519,000 as of July 31, 2018[53] - The company has a current liability exceeding current assets by approximately HKD 102,506,000, prompting careful consideration of future liquidity[15] Cash Flow and Investments - The net cash generated from operating activities for the six months ended January 31, 2019, was HKD 92,780,000, compared to a net cash outflow of HKD 84,085,000 for the same period in 2018[11] - The net cash used in investing activities was HKD 10,798,000, a decrease from HKD 40,726,000 in the previous year, reflecting reduced capital expenditures[11] - The net cash used in financing activities was HKD 88,520,000, compared to a net cash inflow of HKD 9,486,000 in the previous year, highlighting increased repayment of bank loans[11] - The company reported a significant decrease in cash and cash equivalents net decrease of HKD 6,538,000, compared to HKD 33,873,000 in the previous year[11] - The cash and cash equivalents at the end of the period were HKD 98,287,000, slightly up from HKD 96,160,000 in the previous year[11] Segment Performance - Revenue from external customers in the apparel and related accessories business was HKD 95,418,000, down from HKD 102,905,000, representing a decline of 7.3%[25] - The group reported a loss of HKD 5,789,000 in the segment profit for the apparel and related accessories business, improving from a loss of HKD 15,007,000 in the previous year[25] - The "Securities Trading" segment recorded a loss of HKD 4,059,000, compared to a profit of HKD 5,257,000 in 2018, due to significant devaluation of financial assets[97] - Rental income from the "Property Investment and Leasing" segment remained stable at HKD 28,468,000, slightly up from HKD 28,353,000 in 2018[96] Shareholder Information - The company’s issued share capital remained at 947,543,695 shares with a total value of HKD 332,323,000 as of January 31, 2019[59] - As of January 31, 2019, the company’s major shareholder, Rich Promise Limited, holds 472,200,000 shares, representing approximately 49.83% of the total shares issued[139] - The total equity held by the chairman and CEO, Lin Jianming, is 489,897,000 shares, which constitutes 51.70% of the total shares issued[138] - Lin Jianming purchased a total of 2,979,000 shares during the six months ending January 31, 2019[139] Economic and Market Conditions - Retail market recovery in Hong Kong and Macau shows signs of weakness, with a decline in sales of high-end products due to reduced consumer spending power, particularly from mainland Chinese tourists[100] - The economic outlook remains challenging due to potential trade conflicts and declining consumer confidence, impacting the group's apparel and accessories business[108] Corporate Governance - The audit committee consists of three independent non-executive directors[157] - The company expresses gratitude to all employees and management for their contributions and support[158]