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]