Financial Performance - The group's revenue for the year ended March 31, 2020, was HKD 615.7 million, an increase of HKD 63.8 million or 11.6% compared to HKD 551.9 million in the previous year[55]. - The consolidated profit attributable to the company's owners was HKD 5.7 million, compared to HKD 0.8 million in the previous year[55]. - The first quarter of 2020 saw a revenue decline of 14.8% compared to the same period last year due to the impact of the COVID-19 pandemic[55]. - The company experienced a 20.5% revenue growth in the first three quarters of the year, driven by local high-end customer sales[55]. - Retail revenue increased from HKD 549.3 million to HKD 613.2 million, reflecting an 11.6% growth despite challenges from trade disputes and the COVID-19 pandemic[62]. - Same-store sales growth was 14.8% for the year, with a notable decline of 14.8% in the fourth quarter due to the pandemic[62]. Dividends and Shareholder Meetings - The company declared a final dividend of HKD 0.02 per share for the year ending March 31, 2020[26]. - The board proposed a final dividend of HKD 0.002 per share, totaling HKD 1.8 million, compared to no dividend in 2019[57]. - The annual general meeting is scheduled for September 11, 2020, to review the audited financial statements for the year[26]. - Shareholders are encouraged to appoint a representative to vote at the meeting instead of attending in person[36]. COVID-19 Impact and Response - The company will implement health and safety measures at the annual general meeting due to the ongoing COVID-19 pandemic[35]. - The ongoing challenges in the luxury retail market in Hong Kong are expected to persist due to the COVID-19 pandemic[56]. - The group has accelerated the development of an online platform to better meet customer shopping needs due to the COVID-19 outbreak[63]. Operational Efficiency and Strategy - The company plans to continue providing high-quality products and explore online business platforms to improve services[56]. - The company is taking measures to improve operational efficiency, including inventory control and reducing rental expenses[56]. - The group plans to enhance competitiveness by adjusting store locations, operating costs, and product mix in response to changing market demands[63]. Risk Management and Internal Controls - The company has established a risk management framework guided by a "three lines of defense" model, ensuring comprehensive risk assessment and management[167]. - The risk management committee, composed of financial and operational executives, is responsible for designing, implementing, and monitoring the risk management system[170]. - The company employs a mixed approach to risk identification, utilizing both top-down and bottom-up methods, and has categorized identified risks into financial, operational, compliance, human resources, and reputational categories[176]. - The audit committee is responsible for overseeing the effectiveness of the risk management and internal control systems, conducting quarterly reviews[169]. - The internal control system aims to ensure effective operations, reliable financial reporting, compliance with applicable laws, and a robust risk management system[178]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange, with some deviations explained[127]. - The board of directors is responsible for overseeing the company's overall strategy, annual and interim performance, and significant acquisitions or disposals[132]. - The independent non-executive directors have potential competitive interests due to their roles in other jewelry companies, but the company is managed independently by experienced senior management[114]. - The company has adopted a board diversity policy to ensure a diverse range of skills and experiences among board members[150]. Financial Position - As of March 31, 2020, the group's current assets and current liabilities were approximately HKD 696.9 million and HKD 110.6 million, respectively, with cash and cash equivalents of about HKD 194.3 million[66]. - The total borrowings amounted to approximately HKD 31.3 million, resulting in a healthy debt-to-equity ratio of 4.9%[66]. - The group reported inventory of approximately HKD 471,461,000 as of March 31, 2020, primarily consisting of jewelry, gold ornaments, and watches[190]. - The provision for inventory impairment and obsolescence amounted to approximately HKD 6,364,000 for the fiscal year ending March 31, 2020[190]. Auditor and Financial Reporting - The financial statements for the year ending March 31, 2020, were audited by Hong Kong Li Xin De Hao CPA Limited[124]. - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2020[187]. - The board is responsible for preparing consolidated financial statements in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[197].

Financial Performance - The group recorded total revenue of HKD 322.0 million for the six months ended September 30, 2019, an increase of HKD 57.7 million or 21.8% compared to HKD 264.3 million in the same period last year[6]. - The retail business revenue increased by HKD 57.5 million or 21.9% to HKD 320.0 million, driven by sales growth to local high-end customers[9]. - Same-store sales grew by 28.0% compared to the same period last year[9]. - The group turned a profit of HKD 2.4 million for the period, compared to a loss of HKD 5.0 million in the previous year[6]. - Gross profit increased from HKD 71.9 million to HKD 82.1 million, despite a slight decline in gross margin from 27.2% to 25.5%[9]. - Revenue for the six months ended September 30, 2019, was HKD 321,971,000, an increase of 21.8% compared to HKD 264,347,000 in 2018[50]. - Gross profit for the same period was HKD 82,100,000, up from HKD 71,891,000, reflecting a gross margin improvement[50]. - Operating profit for the six months was HKD 4,399,000, a significant recovery from an operating loss of HKD 3,518,000 in the previous year[50]. - The net profit for the period was HKD 2,374,000, compared to a net loss of HKD 4,952,000 in 2018[50]. - Total comprehensive income for the period was HKD 2,291,000, recovering from a loss of HKD 5,817,000 in the same period last year[50]. - Basic and diluted earnings per share for the period were HKD 0.3, compared to a loss per share of HKD 0.5 in 2018[50]. - The company reported a pre-tax profit of HKD 2,371,000 for the six months ended September 30, 2019, compared to a loss of HKD 4,955,000 for the same period in 2018[114]. - The company reported a pre-tax profit of HKD 2,374,000 for the six months ended September 30, 2019, compared to a loss of HKD 4,952,000 for the same period in 2018[144]. Assets and Liabilities - As of September 30, 2019, the group had current assets of approximately HKD 686.0 million and current liabilities of approximately HKD 107.2 million, with cash and cash equivalents of about HKD 180.0 million[14]. - The total borrowings amounted to approximately HKD 29.4 million, resulting in a healthy debt-to-equity ratio of 4.6%[14]. - Total assets as of September 30, 2019, amounted to HKD 769,287,000, an increase from HKD 687,978,000 as of March 31, 2019[53]. - Current liabilities totaled HKD 107,241,000, compared to HKD 54,282,000 in the previous period, indicating increased short-term obligations[53]. - The company's equity attributable to owners was HKD 632,540,000, slightly down from HKD 633,643,000 as of March 31, 2019[53]. - The company recognized lease liabilities of approximately HKD 22,969,000 and right-of-use assets of approximately HKD 23,064,000 related to leases with Danway as of September 30, 2019[159]. - The fair value of listed equity securities decreased to HKD 265,000 as of September 30, 2019, down from HKD 316,000 as of March 31, 2019, reflecting a decline of about 16.2%[136]. - The fair value of unlisted equity securities was HKD 3,267,000, reflecting an increase from HKD 2,836,000 as of March 31, 2019[162]. - The fair value of financial liabilities related to gold borrowing was HKD 29,403,000, up from HKD 22,494,000 as of March 31, 2019[164]. Cash Flow - Net cash generated from operating activities increased to HKD 43,365,000, up from HKD 20,485,000 year-on-year[59]. - Cash and cash equivalents at the end of the period were HKD 179,959,000, compared to HKD 175,236,000 at the end of the same period last year[59]. - The net cash outflow from investing activities was HKD 1,801,000, compared to a negligible outflow of HKD 7,000 in the previous year[59]. - The net cash outflow from financing activities was HKD 23,508,000, a decrease from HKD 44,776,000 in the same period of 2018[59]. - The total cash flow from financing activities showed a net increase of HKD 10,000,000 from loan proceeds during the reporting period[149]. Operational Efficiency and Strategy - The group plans to continue expanding its retail network following the opening of a new store in Harbour City, Kowloon in November 2019[10]. - The group aims to enhance operational efficiency through negotiations on rent, inventory management, and cost control measures[13]. - The company has adopted a standard code for directors' securities trading compliance, with all directors adhering to it during the six-month period[29]. - The company has not established a formal dividend policy or predetermined dividend rate, with future dividends to be considered based on various factors[36]. - The company has not established a nomination committee, believing that all directors should participate in fulfilling related responsibilities[33]. Accounting and Compliance - The company's auditor, BDO Limited, reviewed the interim financial statements for the six months ending September 30, 2019, without any reservations[48]. - The financial statements were prepared in accordance with Hong Kong Accounting Standards, specifically HKAS 34 for interim financial reporting[42]. - The company continues to assess the impact of new accounting standards on its financial reporting and compliance[73]. - The company did not apply any new or revised Hong Kong Financial Reporting Standards that have not yet come into effect during the reporting period[71]. - The company continues to account for investment properties under HKAS 40 and property, plant, and equipment under HKAS 16, with no significant impact from the adoption of HKFRS 16[93]. Shareholder Information - Major shareholder Yang Zhicheng Holdings Limited holds 554,624,457 shares, representing 60.70% ownership as of September 30, 2019[27]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries in the six months ending September 30, 2019[28]. - The company recorded a total of 913,650,465 ordinary shares issued and fully paid as of September 30, 2019, unchanged from March 31, 2019[142]. Employee and Management Costs - Employee benefits expenses increased to HKD 29,959,000, up from HKD 26,246,000 in the previous year, marking a rise of 10.3%[110]. - The total remuneration for key management personnel was HKD 4,322,000 for the six months ended September 30, 2019, compared to HKD 4,202,000 in the prior year[160]. Lease and Asset Management - The company recognized a right-of-use asset addition of HKD 35,390,000 during the period, reflecting new lease agreements for properties and fixtures[117]. - A provision for impairment loss of HKD 3,600,000 was recognized for right-of-use assets based on cash flow forecasts[117]. - The transition to HKFRS 16 has not resulted in a significant impact on the group's retained earnings, with an adjustment of HKD (3,391,000) noted[73]. - The group did not restate comparative figures for the adoption of HKFRS 16, continuing to report under HKAS 17 for prior periods[73]. - The company has made significant judgments and estimates in applying accounting policies, particularly related to the adoption of HKFRS 16[99].

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year ending March 31, 2019, representing a 5% increase compared to the previous year[9]. - The group's total revenue for the year ended March 31, 2019, was HKD 551.9 million, an increase of HKD 34.2 million or 6.6% compared to HKD 517.6 million in the previous year[33]. - Gross profit for the year was HKD 149,941,000, compared to HKD 122,516,000 in the previous year, indicating a year-over-year increase of about 22.4%[193]. - Operating profit for the year was HKD 2,653,000, a significant recovery from an operating loss of HKD 19,165,000 in 2018[193]. - The company reported a profit before tax of HKD 664, contrasting with a loss before tax of HKD 22,741,000 in the previous year[193]. - Total comprehensive income for the year was HKD 226,000, a recovery from a total comprehensive loss of HKD 21,754,000 in 2018[193]. - Basic and diluted earnings per share for the year were HKD 0.08, compared to a loss per share of HKD 2.49 in the previous year[193]. - Total assets decreased from HKD 747,769,000 to HKD 687,978,000, a decline of approximately 8%[1]. - Current assets increased from HKD 4,461,000 to HKD 6,888,000, representing a growth of about 54%[1]. - Current liabilities decreased from HKD 116,437,000 to HKD 54,282,000, a reduction of approximately 53%[1]. - Net asset value remained stable at HKD 626,808,000 compared to HKD 626,871,000, showing minimal change[1]. - Equity attributable to owners increased from HKD 631,194,000 to HKD 633,643,000, a slight increase of about 0.39%[1]. User Growth and Market Expansion - User data showed a growth in active users by 15% year-over-year, reaching 2 million active users[9]. - Market expansion plans include entering two new regions, which are projected to increase market share by 8%[9]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 15%[9]. - New product launches are expected to contribute an additional HKD 200 million in revenue in the upcoming year[9]. Operational Efficiency and Investments - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[9]. - The company is investing HKD 50 million in research and development for new technologies aimed at enhancing user experience[9]. - The group plans to continue investing in personnel management, digital marketing channels, and product design to enhance customer service and operational efficiency[41]. Shareholder Value and Capital Management - The board has authorized a share buyback program of up to 10% of the company's outstanding shares to enhance shareholder value[9]. - The company has not purchased, sold, or redeemed any of its shares during the year[97]. Governance and Compliance - The company has established a robust environmental, social, and governance reporting system, with annual reports available on its website[51]. - The board of directors confirmed the independence of all independent non-executive directors as per the listing rules[68]. - The company has confirmed compliance with the disclosure requirements of the Listing Rules regarding connected transactions[89]. - The company has adhered to the risk management and internal control code provisions during the year ending March 31, 2019[134]. - The company has implemented measures to ensure timely and transparent disclosure of important information, adhering to applicable laws and regulations[153]. Risk Management - The company has established a risk management system to identify, assess, and respond to risks associated with its business operations, ensuring alignment with strategic objectives[156]. - The risk management framework follows a "three lines of defense" model, ensuring that business units are responsible for managing risks within their operations[157]. - The audit committee is responsible for reviewing the effectiveness of the risk management system and reports findings to the board of directors[163]. Inventory Management - As of March 31, 2019, the group's inventory amounted to approximately HKD 477,738,000, primarily consisting of jewelry, gold ornaments, and watches[173]. - The inventory provision and impairment for the fiscal year ending March 31, 2019, was approximately HKD 9,146,000, based on management's estimates regarding obsolete and outdated inventory[173]. Director Remuneration and Training - The remuneration for director Zheng Guo Cheng has increased to HKD 283,250 per year, while chairman Deng Ri Shan's remuneration has risen to HKD 1,800,000 per year[99]. - The company arranged and funded one training course for directors to enhance their professional development[120].