Group 1 - The company reported revenue of HKD 17.68 million for the six months ending June 30, 2025, representing a year-on-year decrease of 59.47% [1] - The company achieved a profit of HKD 9.705 million during the same period, marking a turnaround from a loss to profitability [1] - The basic earnings per share were HKD 0.0059 [1]

Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 17,680,000, a decrease of 59.5% compared to HKD 43,620,000 for the same period in 2024[4] - Gross profit for the same period was HKD 17,209,000, down 34.4% from HKD 26,299,000 in 2024[4] - Operating profit for the six months was HKD 11,866,000, compared to an operating loss of HKD 6,585,000 in the previous year[4] - Profit before tax was HKD 9,705,000, a significant recovery from a loss of HKD 8,104,000 in 2024[4] - Basic earnings per share from continuing operations was HKD 0.59, compared to a loss of HKD 0.49 in the previous year[6] - The company reported a total comprehensive loss of HKD 2,203,000 for the period, compared to a loss of HKD 37,586,000 in 2024[7] - The group reported a profit of HKD 9,705,000 from continuing operations for the six months ended June 30, 2025, compared to a loss of HKD 14,198,000 for the same period in 2024[29] - Overall revenue from continuing operations decreased by HKD 25,940,000 (or 59%), while the overall gross profit margin increased to 97% from 60% in 2024[44] Assets and Liabilities - Total assets as of June 30, 2025, were HKD 1,050,209,000, compared to HKD 1,037,799,000 as of December 31, 2024[8] - Non-current assets decreased to HKD 429,308,000 from HKD 437,622,000 in the previous period[8] - Current assets increased to HKD 620,901,000 from HKD 600,177,000 as of December 31, 2024[8] - As of June 30, 2025, the company reported total equity of HKD 1,022,544,000, a slight decrease from HKD 1,024,747,000 as of December 31, 2024[9] - The company recorded a loss of HKD 1,224,274,000 in accumulated losses as of June 30, 2025, compared to HKD 1,233,979,000 at the end of 2024[9] - Total liabilities increased to HKD 27,665,000 as of June 30, 2025, from HKD 13,810,000 at the end of 2024[19] - The company's asset-to-liability ratio was 0.2% as of June 30, 2025, compared to 0.3% as of December 31, 2024, indicating stable financial health[69] Revenue Segmentation - Revenue from external customers for the retail fashion and accessories segment was HKD 7,817,000 for the six months ended June 30, 2025, down from HKD 34,840,000 for the same period in 2024[18] - The investment segment generated revenue of HKD 9,863,000 for the six months ended June 30, 2025, compared to HKD 8,780,000 in the previous year[18] - Retail fashion and accessories revenue dropped by 78% to HKD 7.82 million from HKD 34.84 million year-on-year[39] - The company’s fashion retail business saw a revenue decline of HKD 27.02 million (or 78%) and a gross profit decrease of HKD 10.17 million (or 58%) compared to the previous year[40] Investment Performance - The investment portfolio generated a net realized and unrealized income of HKD 18,372,000, more than double the HKD 8,103,000 reported in 2024[42] - The company recorded a net unrealized fair value gain of HKD 4,576,000 from private equity fund investments, a significant turnaround from a net unrealized loss of HKD 12,889,000 in 2024[43] - The company experienced a net fair value loss of HKD 2.1 million on investment properties, primarily due to a weak property market in Hong Kong[38] - The total book value of private equity fund investments was HKD 48,724,000 as of June 30, 2025, with a net income of HKD 4,648,000 for the six months ended June 30, 2025, compared to a net loss of HKD 12,752,000 in the same period of 2024[61] Cost Management - Administrative expenses for the company were HKD 649,000 for the six months ended June 30, 2025, down from HKD 1,947,000 in the same period of 2024[19] - Selling and distribution expenses decreased by 69% to HKD 4,488,000, down from HKD 14,457,000 in 2024, due to the closure of the flagship store and reduced advertising costs[45] - Administrative expenses decreased by 25% to HKD 15,632,000, down from HKD 20,780,000 in 2024, mainly due to workforce streamlining[45] - The company reported a significant reduction in financing costs, with bank loan interest at zero and lease liability interest at HKD 61,000, down from HKD 137,000 and HKD 282,000 respectively in 2024[47] Future Outlook - The company has not provided specific guidance for future performance or new product developments in the current report[2] - There were no significant events after the financial period that would impact the company's financial position or future outlook[71] - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ending June 30, 2025[66] Corporate Governance - The company has maintained compliance with all corporate governance codes as outlined in the listing rules during the reporting period[73]

成員 會議次數及議事程序 ENM HOLDINGS LIMITED 安 寧 控 股 有 限 公 司 （於香港成立之有限公司） （股份代號：00128） 薪酬委員會的職權範圍 （中文版本僅供參考，一切以英文版本為準。） 股東週年大會 9. 委員會主席應盡可能出席本公司股東週年大會，並回答股東就委員會工作範 圍提出的任何問題。 2025 年 8 月 1 1. 薪酬委員會（「委員會」）須由安寧控股有限公司（「本公司」）的董事會 （「董事會」）委任，由不少於三名成員組成，而成員當中大多數應為獨立 非執行董事。 2. 委員會主席須由董事會委任，並且應為獨立非執行董事。 3. 委員會秘書須由董事會委任。 4. 委員會須於每年至少舉行一次會議。若委員會有工作需要，可召開額外會 議。 5. 會議的法定人數為兩名委員會成員。 6. 委員會之會議及程序須受本公司組織章程細則所載的董事會會議及程序規定 所監管。 7. 在任何委員會會議上提出的問題，須由過半數出席成員的票數決定。如票數 均等，則會議主席有權投第二票或決定票。 8. 委員會可不時邀請任何董事會成員或本集團之高級管理層或顧問（包括不限 於外聘顧問或顧問）出席會議，向委員 ...

Group 1 - The company, Anning Holdings (00128.HK), announced that its board meeting will be held on August 26, 2025, to approve the interim results for the six months ending June 30, 2025 [1]

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佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就本公佈全部或任何部分內容而產 生或因依賴該等內容而引致之任何損失承擔任何責任。 於本公佈日期，本公司董事包括： 董事會召開日期 安寧控股有限公司（「本公司」）董事會（「董事會」）宣佈，董事會會議將於 二零二五年八月二十六日（星期二）舉行，藉以（其中包括）批准本公司及其附 屬公司截至二零二五年六月三十日止六個月之中期業績公佈。 承董事會命 公司秘書 鄭佩敏 香港，二零二五年八月十三日 ENM HOLDINGS LIMITED 安 寧 控 股 有 限 公 司 （於香港成立之有限公司） （股份代號：0 0 128） 執行董事： Penny Soh Peng CROSBIE-WALSH（行政總裁） 非執行董事： 王弘瀚（非執行主席） 獨立非執行董事： 張建榮 凌潔心 曾憲芬 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 安寧控股有限公司 | | | 呈交日期: | 2025年8月6日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00128 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,650,658,676 | | | | 1,650,658,676 | | 增加 / 減少 (-) | | | | | | | ...

Financial Performance - The company recorded a loss attributable to shareholders of HKD 7,904,000 for the year ending December 31, 2024, a decrease of HKD 11,843,000 (or 60%) compared to the previous year[40]. - Revenue from continuing operations decreased by 31% to HKD 74,763,000 compared to HKD 108,031,000 in the previous year[42]. - The overall revenue and gross profit from continuing operations decreased by 31% and 15%, respectively, primarily due to declines in fashion retail sales and dividend income[47]. - The investment division recorded a profit of HKD 8,088,000, down from HKD 10,027,000 in the previous year[46]. - The loss from discontinued operations in the resort and club business decreased by 47% to HKD 6,080,000 from HKD 11,373,000[47]. - The company experienced a 48% decline in online sales compared to the previous year, attributed to a continued drop in global online sales post-COVID[44]. - The company implemented increased discounting strategies to attract customers, which pressured profit margins but led to a significant reduction in operating losses[45]. - The company's total investment cost was HKD 388.771 billion, with a fair value loss of HKD 289 million for the year[78]. Business Operations - The group terminated its vacation center and club business on June 16, 2024[4]. - The company decided not to renew the lease for its flagship store in Central, reflecting a strategic shift in operations[40]. - The company has submitted a land exchange application to the Lands Department, receiving a preliminary offer on July 30, 2024, with the next government procedure expected to take over 18 months[41]. - The fashion retail business revenue decreased by 36% during the same period[41]. - The company terminated the operations of its resort and club business in June 2024, contributing to the reduction in overall losses[41]. - The company faced significant challenges in 2024, leading to the closure of flagship stores to reduce procurement and operating expenses[111]. - Sales revenue for the fashion retail segment is expected to continue its downward trend due to weak high-end retail consumption in Hong Kong and China[111]. Investment Strategy - The group aims to reduce direct investments in individual listed securities and increase investments in professionally managed unit trusts and bond funds to improve performance while managing risk[66]. - The group committed USD 4,000,000 (approximately HKD 31,120,000) to ACIF III, with a total investment of HKD 24,250,000 and a net loss of HKD 6,484,000 for the year[64]. - The group also committed USD 4,000,000 (approximately HKD 31,120,000) to ACIF IV, with a total investment of HKD 30,044,000 and a net loss of HKD 599,000 for the year[65]. - The group’s investment portfolio is exposed to various market risks due to tightening monetary policies by central banks, leading to significant market price fluctuations[92]. - The investment market is expected to remain highly volatile due to uncertainties surrounding U.S. policies and macroeconomic factors[93]. Corporate Governance - The company has maintained compliance with all corporate governance codes as of December 31, 2024[128]. - The board consists of five members, including one executive director and three independent non-executive directors[129]. - The company emphasizes high transparency and open communication as part of its corporate culture[131]. - The independent non-executive directors have confirmed their understanding of their obligations under the listing rules[132]. - The company has a remuneration policy for directors, which is detailed in the corporate governance report[125]. - The company values human capital and has employee reward programs in place[131]. - The company is committed to maintaining high standards of corporate governance to enhance shareholder value[127]. Risk Management - Financial risks include foreign exchange risk, price risk, credit risk, liquidity risk, and interest rate risk[100]. - The management has taken appropriate measures to strengthen budget control and provide intelligent data for strategic decision-making[94]. - The risk management framework is continuously strengthened to identify and manage risks associated with achieving business objectives[186]. - Regular reviews of key business risks and monitoring measures are conducted to mitigate risks and improve assessment procedures[189]. - The internal audit department independently reviews the effectiveness of the group's governance, risk management, and internal control systems[196]. Employee and Talent Management - The total employee cost for the year ended December 31, 2024, was HKD 35,781,000, a decrease from HKD 49,928,000 in 2023[110]. - The gender ratio among all employees is 87% female and 13% male, reflecting the fashion retail industry's traditional demographic[154]. - The company is committed to hiring a gender-diverse management team to create a pool of potential successors for the board[152]. Compliance and Legal Risks - Legal and compliance risks are present due to the regulatory environment, which may lead to enforcement actions and potential fines[99]. - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the year[155]. - The company reviewed compliance with corporate governance regulations and the implementation of the board diversity policy[175].

Financial Performance - For the year ending December 31, 2024, total revenue decreased to HKD 74,763,000 from HKD 108,031,000, representing a decline of approximately 30.8%[3] - Gross profit for the same period was HKD 50,094,000, down from HKD 58,774,000, indicating a decrease of about 14.4%[3] - The operating loss narrowed to HKD 1,344,000 compared to a loss of HKD 7,188,000 in the previous year, showing an improvement of approximately 81.3%[3] - The total comprehensive loss for the year was HKD 43,618,000, a reduction from HKD 74,408,000, reflecting a decrease of about 41.4%[5] - Basic loss per share from continuing operations was HKD 0.11, compared to HKD 0.51 in the previous year, indicating an improvement of approximately 78.4%[4] - The company reported a pre-tax loss from continuing operations of HKD 1,825,000 for 2024, compared to a loss of HKD 8,011,000 in 2023[27] - The company reported a loss from continuing operations of HKD 1,824,000 for the year 2024, compared to a loss of HKD 8,374,000 in 2023, indicating a reduction in losses[38] - The group recorded a loss attributable to shareholders of HKD 7,904,000 for the year ending December 31, 2024, a decrease of HKD 11,843,000 (or 60%) compared to the previous year[47] Revenue Breakdown - The group reported revenue from external customers of HKD 74,763,000, with retail fashion and accessories contributing HKD 55,964,000 and investment segment contributing HKD 18,799,000[24] - Revenue from external customers for the retail segment was HKD 86,867,000, and for the investment segment was HKD 21,164,000, totaling HKD 108,031,000 for the year ended December 31, 2023[26] - Revenue from Hong Kong was HKD 63,574,000 in 2024, compared to HKD 92,963,000 in 2023, indicating a decline[28] - The retail fashion and accessories segment saw a revenue decline of 36%, from HKD 86,867,000 in 2023 to HKD 55,964,000 in 2024[51] Asset and Equity Changes - Non-current assets totaled HKD 437,622,000, down from HKD 482,428,000, indicating a decrease of approximately 9.3%[6] - Current assets decreased to HKD 600,177,000 from HKD 621,907,000, representing a decline of about 3.5%[6] - The company's total equity stood at HKD 1,023,989,000, down from HKD 1,067,607,000, reflecting a decrease of approximately 4.1%[7] - The total carrying value of the financial instruments investment portfolio decreased to HKD 388.77 million as of December 31, 2024, down from HKD 525.37 million in 2023, representing approximately 37.5% of total assets[66] Operational Changes - The group ceased operations of its holiday center and club business on June 16, 2024, and the financial data for these discontinued operations is no longer reviewed by senior management[20] - The company has ceased operations of its club business effective June 6, 2024, due to ongoing losses, which will no longer be included in operational segments[36] - The closure of the flagship store in Central led to the opening of a new pop-up store in Causeway Bay, although online sales revenue halved compared to the previous year[63] Cost Management - The cost of sales for the year 2024 was HKD 24,669,000, a decrease from HKD 49,257,000 in 2023, indicating a reduction in operational costs[34] - Selling and distribution expenses decreased by 29% to HKD 22,813,000 in 2024, primarily due to the closure of retail stores leading to reduced rental and employee costs[58] - Administrative expenses decreased by 17% to HKD 38,612,000 in 2024, mainly due to cost control measures and a reduction in board member numbers[58] - Cost reduction measures implemented in 2024 will extend into 2025 to minimize fixed operating costs[90] Investment Performance - The group’s investment portfolio generated a net realized and unrealized income of HKD 23,415,000 for the year ending December 31, 2024, down from HKD 27,681,000 in 2023[55] - The investment division recorded a segment profit of HKD 8,088,000 in 2024, compared to HKD 10,027,000 in 2023[55] - The total investment in ACIF IV reached HKD 30,044,000, with a capital value of HKD 27,297,000, leading to a net loss of HKD 599,000 for the year[81] Market Conditions - The retail market in Hong Kong faced significant challenges, impacting luxury brand sales due to reduced tourist numbers and changing consumer spending behavior[62] - Financial markets are expected to remain highly volatile in the coming year due to uncertainties from new government policies in the U.S., impacting investment market returns[92] Compliance and Reporting - The company has submitted its consolidated financial statements for the year ending December 31, 2023, in accordance with Hong Kong law[8] - The auditor has reported that there are no reservations or emphasis of matter in the audit report for the consolidated financial statements for the two years[9] - The consolidated financial statements have been prepared in accordance with the applicable Hong Kong Financial Reporting Standards[11] - The company is in compliance with the disclosure requirements of the Listing Rules of the Hong Kong Stock Exchange[11]

Financial Performance - Total revenue for the first half of 2024 was HKD 43,620,000, a decrease of HKD 10,907,000 or 20% compared to HKD 54,527,000 in the same period last year[3]. - Retail fashion and accessories revenue dropped to HKD 34,840,000, down 21% from HKD 43,867,000 year-on-year[4]. - The operating loss for the group was HKD 6,585,000, a significant increase of 213% from a loss of HKD 2,102,000 in the previous year[4]. - The loss attributable to owners for the first half of 2024 was HKD 14,198,000, compared to a loss of HKD 8,548,000 in the same period last year, representing a 74% increase[3]. - The retail segment experienced a 19% decrease in sales, with online sales dropping by 45% compared to the first half of 2023[6]. - The group's overall revenue and gross profit from continuing operations decreased by HKD 10,907,000 (20%) and HKD 6,665,000 (20%), respectively, primarily due to reduced sales in the fashion and retail business[8]. - Gross profit for the same period was HKD 26,299,000, down 20.1% from HKD 32,964,000 in 2023[45]. - Loss before tax for the period was HKD 8,104,000, compared to a loss of HKD 2,427,000 in the previous year, reflecting a significant increase in losses[45]. - Total comprehensive loss for the six months was HKD 37,586,000, compared to HKD 53,232,000 in 2023, indicating a reduction in overall losses[47]. Investment Performance - The group's investment properties recorded a net loss of HKD 1,100,000, a decline of 467% from a gain of HKD 300,000 in the previous year[4]. - The group's net realized and unrealized gains for the six months ended June 30, 2024, amounted to HKD 8,103,000, a decrease from HKD 11,809,000 in 2023, with interest and dividend income at HKD 6,050,000 compared to HKD 8,465,000 in 2023[7]. - The group's investment portfolio's total carrying value was HKD 502,954,000 as of June 30, 2024, down from HKD 525,371,000 at the end of 2023, representing approximately 47.7% of total assets[12]. - The group recorded an unrealized fair value loss of HKD 10,842,000 from its private equity fund investment in Asia China Investment Fund III during the first half of 2024[7]. - The total investment value in private equity funds decreased to HKD 37,394,000 as of June 30, 2024, down from HKD 49,822,000 as of December 31, 2023, resulting in a net loss of HKD 12,752,000 for the six months ended June 30, 2024[23]. - The Group's investment in China Motor Corporation recorded a net loss of HKD 1,133,000 for the six months ended June 30, 2024, compared to a net loss of HKD 85,000 in the same period of 2023[22]. - The fair value of the group's investment portfolio in marketable securities was HKD 289,118,000 as of June 30, 2024, representing approximately 27.4% of total assets[14]. Operational Changes - The group plans to close the Cheung Tat Country Club to mitigate ongoing losses, aligning with shareholder interests[3]. - The group plans to open a new store in Lee Garden Two, Causeway Bay, Hong Kong, in early September 2024, following the closure of the flagship store[10]. - The group plans to close its flagship store in Central Hong Kong by September 30, 2024, which is not expected to have a significant impact on the financial statements[39]. - The group terminated its resort and club business on June 16, 2024, and the related financial data is no longer reviewed by management[62]. Cash and Liquidity - As of June 30, 2024, the group's cash and non-collateral deposits amounted to HKD 116,953,000, an increase from HKD 109,576,000 as of December 31, 2023[37]. - Cash and cash equivalents increased to HKD 93,613,000 from HKD 87,622,000, marking an increase of approximately 6.8%[50]. - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 20,087,000, a significant improvement from a net cash outflow of HKD 930,000 in the same period last year[50]. - Total borrowings and lease liabilities were HKD 2,062,000 and HKD 4,593,000 respectively, down from HKD 5,079,000 and HKD 8,396,000 as of December 31, 2023[37]. - The group's debt-to-equity ratio was 0.6% as of June 30, 2024, compared to 1.3% as of December 31, 2023[37]. - The current ratio remained strong at 25.9 times as of June 30, 2024, compared to 16.9 times as of December 31, 2023[37]. Shareholder Information - As of June 30, 2024, major shareholders include Solution Bridge Limited with 408,757,642 shares (24.76%) and Diamond Leaf Limited with 162,216,503 shares (9.83%) [100]. - Parasia Limited and Huamao Group Holdings Limited each hold 570,974,145 shares, representing 34.59% of the company [100]. - The total shares held by Mr. Zhuang Rijie and Mr. Huang Dewei, as trustees, amount to 730,974,145 shares, which is 44.28% of the company [101]. Governance and Compliance - The company has adhered to all corporate governance codes as per the listing rules during the six-month period ending June 30, 2024 [104]. - The interim financial statements for the six months ending June 30, 2024, were reviewed by external auditors and the audit committee [106]. - The company has implemented a comprehensive code of conduct for all employees, including executive directors, to ensure compliance and ethical behavior[41]. Future Outlook - The group continues to focus on property land exchange applications, working closely with relevant government departments to expedite the process[34]. - The group has maintained a prudent strategy for cash management and foreign exchange risk, regularly reviewing its financial position[36]. - The group expects that the amendments to Hong Kong Financial Reporting Standard No. 21 will not have a significant impact on the consolidated financial statements[56].

Financial Performance - For the six months ended June 30, 2024, the company reported a revenue of HKD 43,620,000, a decrease of 20.4% compared to HKD 54,527,000 for the same period in 2023[4] - The gross profit for the same period was HKD 26,299,000, down 20.1% from HKD 32,964,000 year-on-year[4] - The operating loss for the six months was HKD 6,585,000, compared to a loss of HKD 2,102,000 in the previous year, indicating a significant decline in operational performance[4] - The total comprehensive loss for the period was HKD 37,586,000, compared to HKD 53,232,000 in the same period last year, reflecting a reduction in overall losses[6] - The company reported a basic loss per share from continuing and discontinued operations of HKD (0.86) cents, compared to HKD (0.52) cents in the previous year[5] - The group reported a consolidated loss from continuing operations of HKD (8,104,000) for the six months ended June 30, 2024, compared to a loss of HKD (2,427,000) for the same period in 2023[16] - The company reported a loss from continuing operations of HKD 14,198,000 for the six months ended June 30, 2024, compared to a loss of HKD 8,548,000 for the same period in 2023[23] - The group recorded a net loss attributable to shareholders of HKD 14,198,000 for the first half of 2024, compared to a loss of HKD 8,548,000 in the same period last year[34] Assets and Liabilities - Non-current assets decreased to HKD 444,321,000 from HKD 482,428,000 as of December 31, 2023, indicating a decline in asset value[7] - Current assets totaled HKD 609,192,000, a slight decrease from HKD 621,907,000 at the end of 2023[7] - The company’s net asset value was HKD 1,030,021,000, down from HKD 1,067,607,000 as of December 31, 2023[7] - As of June 30, 2024, the total equity attributable to shareholders was HKD 1,030,780,000, a decrease from HKD 1,068,364,000 as of December 31, 2023, representing a decline of approximately 3.5%[8] - Cumulative losses increased to HKD (1,240,273,000) from HKD (1,226,075,000), indicating a rise in losses of about 1.2%[8] - Other reserves decreased to HKD 1,064,347,000 from HKD 1,087,733,000, reflecting a reduction of approximately 2.2%[8] - The total liabilities for the group were HKD (23,492,000) as of June 30, 2024, compared to HKD (36,728,000) for the same period in 2023[16] Accounting Standards and Compliance - The company has adopted new accounting standards effective January 1, 2024, which include revisions to the classification of liabilities and financial statement presentation[10] - Management anticipates that the new accounting standards will not have a significant impact on the consolidated financial statements[12] - The company has not made retrospective adjustments due to the adoption of the revised accounting standards, and there were no significant changes in the classification of borrowings[11] - The financial data for the six months ending June 30, 2024, is unaudited and should be read in conjunction with the audited financial statements for the year ended December 31, 2023[9] - The company has adhered to all corporate governance codes as stipulated in the listing rules during the reporting period[71] Market and Operational Focus - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[2] - The company continues to focus on retail fashion and accessories, as well as investment activities for short-term and long-term returns[13] - The group plans to close the Central flagship store by September 30, 2024, which is expected to have no significant impact on the financial statements[32] - The company plans to open a new store in the Lee Garden Phase II in September 2024, enhancing customer experience and attracting new clientele[45] Sales and Revenue Trends - Revenue from external customers for the retail fashion and accessories segment was HKD 43,867,000 for the six months ended June 30, 2023, compared to HKD 34,840,000 for the same period in 2024, representing a growth of 26.4%[15] - Retail sales of fashion and accessories decreased by 21%, from HKD 43,867,000 to HKD 34,840,000 year-on-year[36] - The group experienced a significant decline in luxury apparel sales, with a 13.2% drop in sales figures reported by the Hong Kong government[34] - Online sales dropped by 45% compared to the first half of 2023, reflecting a decline in post-pandemic online shopping[38] - Overall revenue declined due to the closure of Paule Ka stores, resulting in a sales revenue drop of HKD 7,113,000 and a more than 45% decrease in online sales[45] Investment Performance - The investment segment reported a profit of HKD 2,597,000 for the six months ended June 30, 2023, compared to a loss of HKD 857,000 for the same period in 2024[15] - The company recognized a fair value loss of HKD 10,842,000 in its private equity fund investments during the first half of 2024[39] - The group recorded a net loss of HKD 1,133,000 from its investment in China Automotive Limited for the six months ending June 30, 2024, compared to a net loss of HKD 85,000 in the previous year[58] - The total investment value in private equity funds decreased to HKD 37,394,000 as of June 30, 2024, from HKD 49,822,000 as of December 31, 2023, with a net loss of HKD 12,752,000 for the period[59] Cost Management - Selling and distribution expenses reduced by 14% to HKD 14,457,000, mainly due to the closure of the Paule Ka retail store[43] - Administrative expenses decreased by 8% to HKD 20,780,000, attributed to one-time legal and professional fees related to privatization and reduced employee costs[43] - Total financing costs decreased by HKD 206,000 (or 33%) to HKD 419,000, driven by lower interest expenses on lease liabilities[44] Cash and Liquidity - As of June 30, 2024, the group's cash and non-pledged deposits amounted to HKD 116,953,000, an increase from HKD 109,576,000 on December 31, 2023[66] - The total borrowings and lease liabilities were HKD 2,062,000 and HKD 4,593,000 respectively, down from HKD 5,079,000 and HKD 8,396,000 on December 31, 2023[66] - The group's debt-to-equity ratio improved to 0.6% as of June 30, 2024, compared to 1.3% on December 31, 2023[67] - The current ratio stood at 25.9 times as of June 30, 2024, up from 16.9 times on December 31, 2023, indicating strong liquidity[67] Management and Governance - The executive director is Penny Soh Peng Crosbie-Walsh, serving as the CEO, with a non-executive chairman and independent non-executive directors also in place[72]