证券时报网讯，据国家统计局，2024年，全国房地产开发投资100280亿元，比上年下降10.6%（按可比 口径计算）；其中，住宅投资76040亿元，下降10.5%。 2024年，房地产开发企业房屋施工面积733247万平方米，比上年下降12.7%。 其中，住宅施工面积513330万平方米，下降13.1%。 房屋新开工面积73893万平方米，下降23.0%。 其中，住宅新开工面积53660万平方米，下降23.0%。 房屋竣工面积73743万平方米，下降27.7%。 其中，住宅竣工面积53741万平方米，下降27.4%。 校对：吕久彪 ...

Financial Performance - Total revenue for the period reached HKD 387.3 million, an increase of 6.4% from HKD 363.9 million in the same period last year[9]. - Net profit attributable to shareholders decreased to HKD 37.0 million, down 15.3% from HKD 43.7 million in the previous year[9][14]. - Retail business revenue increased by 7.0% to HKD 387.2 million, driven by a mid-single-digit growth in jewelry sales despite challenging economic conditions[10]. - Gross profit margin improved from 30.4% to 31.9%, resulting in a gross profit increase of HKD 12.8 million[13]. - Same-store sales growth reached 8.6% during the period, supported by a loyal customer base and strong supplier relationships[10]. - Operating profit decreased to HKD 36,926 thousand from HKD 45,383 thousand, indicating a decline of 18.5% year-over-year[55]. - Profit before tax was HKD 34,644 thousand, down from HKD 43,737 thousand, representing a decrease of 20.8%[55]. - Net profit for the period was HKD 37,044 thousand, compared to HKD 43,737 thousand in the previous year, a decline of 15.4%[55]. - Total comprehensive income for the period was HKD 39,761 thousand, slightly lower than HKD 43,689 thousand from the same period last year[55]. Market Outlook - The geopolitical tensions and high gold prices are expected to continue affecting consumer sentiment in the short term[16]. - The company anticipates a gradual recovery in the luxury goods market in the medium to long term due to recent government measures aimed at stabilizing the economy[16]. Investment and Development - The company plans to continue investing in the design and production of daily wear gold products and unique jewelry to meet customer preferences[16][17]. - Continued investment in employee development, brand building, digital marketing, and creative product design is planned to better serve existing and potential customers[20]. - The introduction of the "Gold for Diamonds" product line has been successful and will be expanded across all stores[17]. Financial Position - As of September 30, 2024, the group's current assets and current liabilities were approximately HKD 861.1 million and HKD 170.1 million, respectively[21]. - The total borrowings of the group were approximately HKD 68.5 million, resulting in a healthy debt-to-equity ratio of 8.9%[21]. - Total assets as of September 30, 2024, amounted to HKD 957,956 thousand, a slight increase from HKD 917,316 thousand as of March 31, 2024[58]. - Current liabilities increased to HKD 170,117 thousand from HKD 147,758 thousand, indicating a rise of 15.1%[58]. - Equity attributable to owners of the company was HKD 771,339 thousand, up from HKD 755,220 thousand, reflecting a growth of 2.1%[58]. Cash Flow and Investments - The company's cash and cash equivalents at the end of the period were HKD 192,925,000, a decrease from HKD 353,914,000 at the end of the previous period, reflecting a reduction of approximately 45.5%[64]. - Operating cash flow before changes in working capital was HKD 60,577,000, compared to HKD 62,407,000 in the prior year, showing a slight decrease of about 2.9%[64]. - The company experienced a net cash outflow from investing activities of HKD 63,832,000, compared to HKD 58,020,000 in the previous year, indicating an increase in cash outflow of approximately 10.5%[64]. - The company reported a foreign exchange gain of HKD 143,000 from the translation of overseas operations for the period[61]. - The company’s investment income recognized at fair value through other comprehensive income amounted to HKD 1,570,000 for the period[61]. Employee and Management - The group employed approximately 139 employees as of September 30, 2024, with a performance-based bonus reward program in place[27]. - Employee benefits expenses for the six months ended September 30, 2024, amounted to HKD 37,588,000, a slight decrease from HKD 38,013,000 in the same period of 2023, reflecting a 1.1% decline[106]. - The total salary, allowances, and benefits for key management personnel reached HKD 8,350,000 for the six months ended September 30, 2024, an increase from HKD 8,033,000 in the same period last year[162]. Dividends and Share Capital - The company has not established a dividend policy or predetermined dividend rate, with future dividends to be considered based on various factors[41]. - The company declared an interim dividend of 0.4 HKD per share for the 2024/25 fiscal year, consistent with the previous year's interim dividend[98]. - The total issued share capital remained unchanged at HKD 393,354,000 with 909,308,465 shares as of both September 30, 2024, and March 31, 2024[142]. Accounting and Compliance - The company anticipates that the adoption of new accounting standards will not have a significant impact on its financial performance or position[73]. - The group expects to adopt all relevant accounting standards upon their effective dates, ensuring compliance with regulatory requirements[75]. - The company's auditor provided an unqualified opinion on the financial statements for the year ending March 31, 2024[44].

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 387,301 thousand, an increase of 6.4% compared to HKD 363,913 thousand for the same period in 2023[2] - Gross profit for the same period was HKD 123,546 thousand, representing a gross margin of 31.9%, up from HKD 110,721 thousand in 2023[2] - Operating profit decreased to HKD 36,926 thousand, down 18.5% from HKD 45,383 thousand in the previous year[2] - Profit before tax was HKD 34,644 thousand, a decline of 20.8% compared to HKD 43,737 thousand in the prior period[2] - The net profit for the period was HKD 37,044 thousand, down from HKD 43,737 thousand, reflecting a decrease of 15.4%[2] - Total comprehensive income for the period was HKD 39,761 thousand, slightly lower than HKD 43,689 thousand in the previous year[4] - Basic and diluted earnings per share were HKD 4.07, down from HKD 4.81 in the same period last year[4] - The company reported total revenue of HKD 387.3 million for the six months ended September 30, 2024, an increase of HKD 23.4 million or 6.4% compared to HKD 363.9 million for the same period last year[43] - The unaudited consolidated profit attributable to the company's owners for the period was HKD 37.0 million, down from HKD 43.7 million in the same period last year[43] Revenue Breakdown - Revenue from gold jewelry, jewelry, watches, and gift retail was HKD 341,151,000, while bullion trading and diamond wholesale generated HKD 46,039,000 and HKD 111,000 respectively for the six months ended September 30, 2024[20] - Retail business revenue increased by HKD 25.2 million or 7.0% to HKD 387.2 million, despite a challenging economic environment in Hong Kong and mainland China[44] - Same-store sales growth reached 8.6% during the period, supported by loyal customer base and partnerships with high-end watch suppliers[44] Costs and Expenses - The cost of sales for the six months ended September 30, 2024, was HKD 263,183,000, compared to HKD 252,436,000 for the same period in 2023, indicating an increase of about 4.0%[26] - Net profit decreased by HKD 6.7 million or 15.3%, primarily due to unrealized non-cash losses on gold lending of HKD 10.4 million[46] Assets and Equity - The company's total assets as of September 30, 2024, were HKD 957,956 thousand, compared to HKD 917,316 thousand as of March 31, 2024[6] - Current assets amounted to HKD 861,108 thousand, a slight decrease from HKD 863,965 thousand in the previous period[6] - The company's equity attributable to owners was HKD 771,339 thousand, an increase from HKD 755,220 thousand as of March 31, 2024[7] Dividends - The company declared a final dividend of HKD 2.6 per ordinary share for the fiscal year 2023/24, compared to HKD 2.0 per share for the previous year, representing a 30% increase[28] - The interim dividend declared for the six months ended September 30, 2024, is HKD 0.004 per ordinary share, unchanged from the previous year[40] - The company will suspend the registration of share transfers on December 9, 2024, for shareholders to receive the interim dividend[42] Accounting and Reporting - The company has identified a single reporting segment, which is retail, bullion trading, and diamond wholesale, with over 90% of revenue generated from operations in Hong Kong[17] - The company expects that the application of new accounting standards will not have a significant impact on its financial performance and position[14] - The company is currently assessing the impact of the new accounting standards and amendments that will come into effect starting January 1, 2026[14] - No single customer accounted for 10% or more of the total revenue for the six months ended September 30, 2024[18] Investments and Future Outlook - The company plans to continue investing in product design and production of gold jewelry to meet customer demand and preferences[48] - The introduction of the "Gold for Diamonds" product line is aimed at expanding the customer base following the relocation of the store in Harbour City[48] - The company anticipates that geopolitical tensions and high gold prices will continue to affect consumer sentiment in the short term[47] - The company expects a gradual recovery in the luxury goods market in the medium to long term due to recent government policies aimed at stabilizing the real estate and capital markets in mainland China[47] - The company will continue to invest in employee development, brand building, digital marketing, and creative product design[48] Share Transactions - The company did not repurchase or cancel any ordinary shares during the six months ended September 30, 2024[30] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending September 30, 2024[49] Lease and Assets - The right-of-use assets recognized for the period amounted to HKD 10,407,000 and HKD 16,624,000 for additions and lease adjustments, respectively[33] - The impairment loss provision for right-of-use assets was HKD 2,124,000 for the period, compared to HKD 3,271,000 for the same period last year[33] - The lease liabilities at the end of the reporting period were HKD 49,252,000, with future interest expenses totaling HKD 3,213,000[36] - Trade receivables as of September 30, 2024, totaled HKD 5,346,000, compared to HKD 8,047,000 as of March 31, 2024[40]

Financial Performance - The group reported a revenue of HKD 1.2 billion for the fiscal year ending March 31, 2024, representing a 15% increase compared to the previous year[25]. - Total revenue for the fiscal year ending March 31, 2024, was HKD 775.6 million, a decrease of 13.3% from HKD 894.7 million in the previous year[32]. - The net profit attributable to the company's owners increased to HKD 85.2 million, up 7.2% from HKD 79.5 million in the previous year, primarily due to improved product gross margins and increased interest income[32]. - Gross profit for the same period was HKD 240,785,000, down 10.8% from HKD 269,941,000 in 2023[166]. - Operating profit increased to HKD 86,740,000, up 4.0% from HKD 82,779,000 in the previous year[166]. - Net profit for the year was HKD 85,191,000, representing an increase of 7.2% compared to HKD 79,452,000 in 2023[166]. - Basic and diluted earnings per share rose to HKD 9.37, up from HKD 8.73 in the prior year, reflecting a growth of 7.3%[166]. - The company reported a total comprehensive income of HKD 82,904,000 for the year, compared to HKD 78,435,000 in 2023, an increase of 5.9%[166]. Revenue Growth and Projections - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[25]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on luxury jewelry lines[25]. - Market expansion plans include entering two new Asian markets, aiming for a 5% market share within the first year[25]. - A new marketing strategy focusing on digital channels is anticipated to increase customer engagement by 30%[25]. Cost Management and Efficiency - The company aims to reduce operational costs by 8% through efficiency improvements in supply chain management[25]. - The distribution and selling costs decreased to HKD 109.4 million from HKD 128.2 million, a reduction of 14.7%[32]. - The company's administrative expenses increased to HKD 52.4 million, up 3.8% from HKD 50.5 million, mainly due to higher employee salaries and bonuses[32]. Dividends and Shareholder Returns - The board has approved a dividend of HKD 0.50 per share, reflecting a 25% increase from the previous year[25]. - The board proposed a final dividend of HKD 0.026 per share, compared to HKD 0.020 per share in 2023, and a special dividend of HKD 0.000 per share, down from HKD 0.080 per share in 2023, totaling HKD 23.6 million[28]. - The company declared an interim dividend of HKD 0.4 per share and proposed a final dividend of HKD 2.6 per share for the fiscal year ending March 31, 2024, compared to HKD 2.0 per share in the previous year[54]. - The company paid dividends totaling HKD 94,228,000 during the year, significantly higher than the HKD 18,209,000 paid in the previous year[174]. Inventory and Asset Management - The group reported inventory of approximately HKD 414,979,000 as of March 31, 2024, primarily consisting of jewelry, gold ornaments, and watches[149]. - The provision for inventory impairment and obsolescence amounted to approximately HKD 7,894,000 for the fiscal year ending March 31, 2024[149]. - The company's inventory increased by HKD 35,784,000, compared to an increase of HKD 37,056,000 in the previous year, showing a slight improvement in inventory management[174]. Corporate Governance and Compliance - The company has established a robust environmental, social, and governance reporting system, with annual reports available on its website[48]. - The board of directors includes a mix of executive and non-executive members, ensuring compliance with independence standards[62]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules, with some deviations noted[1]. - The audit committee consists of three members, with a meeting attendance rate of 100% for the chairman and other members during the fiscal year ending March 31, 2024[119]. Risk Management - The risk management framework includes a three-line model, with the board of directors responsible for risk assessment and management[126]. - The internal audit department has conducted independent evaluations of the risk management and internal control systems, identifying areas for improvement[110]. - The company has established a risk universe map to ensure all risk areas, including environmental, social, and governance risks, are identified[135]. - The audit committee conducts reviews of the risk management and internal control systems three times a year, ensuring adequate resources and training for effective systems[128]. Employee and Management Structure - The company has approximately 139 employees as of March 31, 2024, with a performance-based bonus scheme in place[49]. - The gender ratio among all employees as of March 31, 2024, is 58% female to 42% male, with a 2:1 ratio of female to male in senior management[120]. - The company appointed a new CEO, Ms. Wu Yingxian, effective May 2, 2024[102]. Future Outlook - Future outlook suggests potential improvement in consumer sentiment due to anticipated interest rate cuts and stabilization in the stock and property markets[38].

Financial Performance - For the fiscal year ending March 31, 2024, the group's revenue was HKD 775,573,000, a decrease of 13.3% from HKD 894,702,000 in 2023[2] - Gross profit for the same period was HKD 240,785,000, down 10.8% from HKD 269,941,000 in the previous year[2] - Operating profit increased to HKD 86,740,000, up 4.0% from HKD 82,779,000 in 2023[2] - The net profit for the year was HKD 85,191,000, representing a 7.2% increase compared to HKD 79,452,000 in 2023[2] - The total comprehensive income for the year was HKD 82,904,000, compared to HKD 78,435,000 in the previous year, reflecting a growth of 5.9%[4] - Basic and diluted earnings per share increased to HKD 9.37 from HKD 8.73, marking a rise of 7.3%[4] Revenue Breakdown - Total revenue for the year ended March 31, 2024, was HKD 775,573,000, a decrease of 13.3% from HKD 894,702,000 for the year ended March 31, 2023[20] - Revenue from gold jewelry, jewelry, watches, and gifts retail was HKD 733,364,000, down 12.1% from HKD 834,659,000 in the previous year[20] - Revenue from bullion trading was HKD 39,863,000, a decline of 31.4% compared to HKD 58,220,000 in the prior year[20] - Retail revenue decreased by 13.4%, from HKD 892.9 million to HKD 773.2 million, due to a sluggish jewelry market and the closure of certain retail stores[44] Expenses and Liabilities - The cost of goods sold for the year was HKD 533,645,000, down 14.5% from HKD 623,824,000 in the previous year[25] - The pre-tax profit for the year was significantly impacted by a decrease in revenue and increased operating expenses, with total operating expenses amounting to HKD 17,444,000 for the year ended March 31, 2024[23] - Current liabilities were HKD 147,758,000, significantly higher than HKD 74,948,000 in the previous year[6] - Trade payables increased to HKD 17,732 million in 2024 from HKD 9,690 million in 2023, reflecting a significant rise in liabilities[39] - Administrative expenses increased to HKD 52.4 million from HKD 50.5 million, primarily due to higher employee salaries and bonuses[43] Assets and Cash Flow - Total assets as of March 31, 2024, amounted to HKD 917,316,000, an increase from HKD 854,184,000 in 2023[6] - The company's cash and cash equivalents decreased to HKD 231,231,000 from HKD 301,060,000, a decline of 23.2%[6] - Trade receivables increased significantly to HKD 8,047,000 in 2024 from HKD 1,070,000 in 2023, showing a substantial growth[37] - The company reported a significant decrease in other receivables from HKD 35,969,000 in 2023 to zero in 2024, indicating a complete write-off or collection of these receivables[37] Dividends - The proposed final dividend for the year ended March 31, 2024, is HKD 2.6 per share, up from HKD 2.0 per share in 2023, while the special dividend has been set to zero, down from HKD 8.0 per share in 2023[28] - The company reported a total of HKD 94,568,000 in dividends declared during the year, compared to HKD 18,209,000 in the previous year, marking a significant increase[27] - The board proposed a final dividend of HKD 0.026 per share for the year ended March 31, 2024, compared to HKD 0.020 per share in the previous year[41] - The company has not established a dividend policy or predetermined dividend rate, with the board considering various factors for future dividend announcements[51] Operational Developments - The group primarily operates in the retail of gold jewelry, watches, and gifts, with a focus on expanding its market presence[8] - The company opened a new watch store and a new jewelry store in December 2023, focusing on exclusive brands to enhance product diversification and customer experience[45] - Same-store sales growth was recorded at 1% despite the overall revenue decline, attributed to cost reductions and improved gross margins[47] - The company plans to expand its jewelry and watch brand portfolio and improve operational efficiency while maintaining strict cost and inventory controls in the upcoming year[48] Accounting and Audit - The company is currently evaluating the impact of new accounting standards and revisions, expecting no significant effect on the consolidated financial statements[13] - The audit committee reviewed the accounting policies and practices, risk management systems, and financial reporting matters for the year ending March 31, 2024[53] - The auditor, Hong Kong Lixin Dehao CPA Limited, confirmed that the preliminary performance announcement figures align with the audited consolidated financial statements for the year ending March 31, 2024[54] - The auditor's reports for both financial years were unqualified and did not include any emphasis of matter[55]

Financial Performance - For the six months ended September 30, 2023, the company recorded total revenue of HKD 363.9 million, a decrease of HKD 48.6 million or 11.8% compared to HKD 412.5 million in the same period last year[7] - The net profit attributable to the company's owners reached HKD 43.7 million, an increase from HKD 38.6 million in the same period last year[7] - Retail business revenue decreased by HKD 49.8 million or 12.1% to HKD 362.0 million compared to HKD 411.8 million in the previous year[8] - Operating profit increased to HKD 45,383,000, up 11.5% from HKD 40,750,000 in the previous year[48] - Net profit for the period was HKD 43,737,000, a rise of 13.4% compared to HKD 38,627,000 in 2022[48] - Total comprehensive income for the period was HKD 43,689,000, compared to HKD 37,435,000 in the same period last year, reflecting an increase of 16.5%[48] - Basic and diluted earnings per share increased to HKD 4.8, up from HKD 4.2 in the previous year[48] - The company reported a pre-tax profit of HKD 43,735,000 for the six months ended September 30, 2023, compared to HKD 38,626,000 for the same period in 2022, an increase of 13.4%[76] Revenue Breakdown - Revenue for the six months ended September 30, 2023, was HKD 363,913,000, a decrease of 11.8% compared to HKD 412,514,000 in 2022[65] - Revenue from gold jewelry, jewelry, watches, and gifts retail was HKD 342,357,000, down 8.3% from HKD 373,176,000 in the previous year[65] - Revenue from gold bar trading decreased by 49.1% to HKD 19,637,000 from HKD 38,637,000[65] - Diamond wholesale revenue increased significantly to HKD 1,919,000 from HKD 701,000, marking a growth of 173.0%[65] - Other income for the six months ended September 30, 2023, was HKD 14,195,000, compared to HKD 6,268,000 in the same period of 2022, representing a growth of 126.5%[67] Dividends and Shareholder Information - The company will pay an interim dividend of HKD 0.4 per share for the six months ended September 30, 2023, consistent with the previous year[4] - The company declared a total dividend of HKD 90,931,000 for the 2022/23 fiscal year, significantly higher than HKD 14,570,000 in the previous year[74] - Major shareholder Yang Zhi Cheng Holdings Limited held 586,195,857 shares, representing 64.47% of the issued share capital as of September 30, 2023[30] - Directors' shareholdings as of September 30, 2023, included Mr. Tang with 7,528,500 shares (0.83%), Mr. Ho with 6,657,000 shares (0.73%), and Dr. Feng with 5,856,517 shares (0.64%)[27] Liquidity and Financial Position - The company reported a current ratio with current assets of approximately HKD 913.5 million and current liabilities of approximately HKD 228.7 million, indicating a healthy liquidity position[18] - The total borrowings as of September 30, 2023, were approximately HKD 50.8 million, resulting in a debt-to-equity ratio of 7.1%[18] - Cash and cash equivalents rose to HKD 353,914,000, compared to HKD 301,060,000 at the end of March 2023[49] - The company reported a significant increase in cash flow from financing activities, with total liabilities from financing activities amounting to HKD 199,294,000 as of September 30, 2023[113] Employee and Management Information - As of September 30, 2023, the company had a total of approximately 133 employees, with a performance-based bonus reward program in place[24] - Employee benefit expenses for the six months ended September 30, 2023, totaled HKD 38,013,000, an increase of 5.5% from HKD 35,082,000 in the same period of 2022[83] - The total remuneration for key management personnel for the six months ended September 30, 2023, was HKD 8,033,000, an increase from HKD 7,323,000 in the previous year[120] Corporate Governance and Compliance - The company has complied with all provisions of the corporate governance code during the six months ended September 30, 2023, except for the absence of formal appointment letters for directors[35] - The company’s auditor, Hong Kong Li Xin De Hao Accounting Firm, reviewed the interim financial statements for the six months ended September 30, 2023[38] - The company has not established a dividend policy or predetermined dividend rate, with future dividends to be considered based on various factors[36] Asset and Inventory Management - Total assets as of September 30, 2023, were HKD 971,271,000, an increase from HKD 854,184,000 as of March 31, 2023[49] - The company reported a significant increase in inventory, which stood at HKD 394,582,000, up from HKD 387,379,000 as of March 31, 2023[49] - Trade receivables as of September 30, 2023, amounted to HKD 8,067,000, a substantial increase from HKD 1,070,000 as of March 31, 2023[18] - Inventory as of September 30, 2023, totaled HKD 394,582,000, compared to HKD 387,379,000 as of March 31, 2023, with jewelry being the largest component at HKD 232,575,000[19] Investment and Capital Expenditures - The total cash outflow from investing activities was HKD 58,020,000, compared to a cash inflow of HKD 16,557,000 in the same period last year, indicating a shift in investment strategy[53] - Capital expenditures for the six months ended September 30, 2023, were approximately HKD 119,000, a significant decrease from HKD 8,392,000 in the same period of 2022[85] - The company recognized a total of HKD 10,766,000 in right-of-use asset additions for the six months ended September 30, 2023[89] Fair Value Measurements - The fair value of investments in equity securities listed in Hong Kong was HKD 145,000 as of September 30, 2023, down from HKD 173,000 as of March 31, 2023[101] - The fair value of unlisted equity securities increased from HKD 326,000 at the beginning of the period to HKD 654,000 at the end of the period, reflecting a significant change in fair value recognized in other comprehensive income[125] - The fair value measurement of unlisted equity securities is based on observable inputs classified as Level 3, with a valuation technique using market approach and significant unobservable inputs[127] - The fair value of unlisted equity securities is sensitive to the price-to-book ratio, which ranged from 0.16 to 0.49 as of September 30, 2023, compared to 0.22 to 0.85 as of March 31, 2023[129]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 截截截截至至至至 2023 年年年年 9 月月月月 30 日日日日止止止止 6 個個個個月月月月之之之之中中中中期期期期業業業業績績績績 景福集團有限公司（「本公司」）董事會（「董事會」）宣佈，本公司及其附屬公司（統稱「本集團」）於截至 2023年9月30日止6個月之未經審核中期簡明綜合財務報表連同去年同期之比較數字如下： 簡簡簡簡明明明明綜綜綜綜合合合合損損損損益益益益及及及及其其其其他他他他全全全全面面面面收收收收益益益益表表表表 未未未未經經經經審審審審核核核核 截截截截至至至至9月月月月30日日日日止止止止6個個個個月月月月 2023年年年年 2022年 附註 千千千千港港港港元元元元 千港元 收收收收入入入入 5 363,913 412,514 銷售成本 (253,192) (283,848) 毛毛毛毛利利利利 110,721 128,666 其他收益及收入 6 14,195 ...

Financial Performance - For the fiscal year ending March 31, 2023, the company reported a profit before tax of HKD 79,452,000, an increase of 32.3% compared to HKD 60,040,000 in 2022[12] - Total revenue for the year ended March 31, 2023, was HKD 894.7 million, an increase of 9.2% from HKD 819.2 million in 2022[117] - Gross profit for the same period was HKD 269.9 million, up from HKD 234.2 million, reflecting a gross margin improvement[117] - Operating profit increased to HKD 82.8 million from HKD 65.9 million, representing a growth of 25.8%[117] - Profit before tax rose to HKD 79.5 million, compared to HKD 60.0 million in the previous year, marking a 32.5% increase[117] - The company reported a net profit of HKD 79.5 million for the year, consistent with the profit before tax figure[117] - The company's total comprehensive income for the year was HKD 78,435,000, an increase from HKD 59,995,000 in the previous year, representing a growth of approximately 30.7%[156] - Basic and diluted earnings per share increased to HKD 8.73 from HKD 6.59, reflecting a year-over-year growth of approximately 32.5%[156] - The company reported a profit of HKD 79,466,000 for the year, compared to HKD 60,050,000 in the previous year, marking a significant increase of 32.3%[170] Cash Flow and Liquidity - The company’s cash flow from financing activities showed a total cash outflow of HKD 114,838,000, primarily due to repayments of gold loans and lease liabilities[18] - The net cash generated from operating activities was HKD 98,627,000, a decrease from HKD 172,467,000 in the prior year, indicating a decline of 42.7%[167] - The company reported a net increase in cash and cash equivalents of HKD 46,671,000, compared to HKD 45,254,000 in the previous year, showing a slight increase of 3.1%[167] - As of March 31, 2023, total cash and cash equivalents stood at HKD 301,060,000, up from HKD 254,519,000 in the previous year, representing a growth of 18.3%[167] - Cash and cash equivalents rose to HKD 301,060,000 from HKD 254,519,000, indicating improved liquidity[79] Assets and Liabilities - Total assets as of March 31, 2023, amounted to HKD 854,184,000, a decrease of 1.3% from HKD 863,288,000 in 2022[121] - Current assets increased to HKD 817,195,000 from HKD 782,690,000, reflecting a growth of 4.4%[121] - Current liabilities decreased to HKD 74,948,000 from HKD 135,303,000, a reduction of 44.7%[121] - The company's total financial liabilities amounted to HKD 70,987,000, with trade payables at HKD 9,690,000 and lease liabilities at HKD 42,731,000[149] - The group’s lease liabilities amounted to approximately HKD 14,849,000, a decrease from HKD 15,397,000 in 2022[32] Equity and Retained Earnings - The net asset value as of March 31, 2023, was HKD 570,901,000, down from HKD 586,675,000 in 2022[32] - The company's retained earnings decreased to HKD 177,547,000 from HKD 193,321,000 in the previous year[32] - Total equity as of March 31, 2023, was HKD 766,977,000, up from HKD 707,686,000, reflecting an increase of 8.4%[121] - The company's retained earnings increased to HKD 338,917,000 from HKD 278,595,000, showing a growth of approximately 21.7%[160] Risk Management - The group has engaged external consultants to enhance risk management processes and provide overall commentary on the risk management system[36] - The internal audit department plays a crucial role in maintaining effective risk management and internal control systems[48] - The group conducts semi-annual self-assessments of its internal control systems to ensure compliance and effectiveness[47] - The group has established a risk management and internal control system that is deemed effective and sufficient for the reporting period[49] - The group has undergone a review of its risk management processes with the assistance of external consultants[49] Financial Management Practices - The group has adopted a conservative approach to financial risk management, focusing on minimizing potential adverse impacts on financial performance[79] - The company has implemented effective policies for managing foreign exchange risk, which are expected to mitigate significant impacts on profit and reserves[127][128] - The company has not utilized any derivative instruments for hedging purposes, maintaining a straightforward financial strategy[79] - The company’s financial risk management practices are aligned with the Hong Kong Financial Reporting Standards, ensuring transparency in fair value measurements[153] Changes in Accounting Standards - The company adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on its accounting policies[176] - The new insurance contract standards established principles for recognition, measurement, presentation, and disclosure, replacing the previous standards[183] - The company highlighted that the revised standards aim to simplify financial performance interpretation and provide additional transitional exemptions[183] - The company reported that the fair value measurement framework is divided into three levels based on the reliability of significant inputs used[194] - The company indicated that the revised accounting standards would come into effect for annual periods beginning on or after January 1, 2024[190]

Financial Performance - For the six months ended September 30, 2022, the company recorded total revenue of HKD 412.5 million, an increase of HKD 15.8 million or 4.0% compared to HKD 396.7 million in the same period last year[10]. - The company's unaudited consolidated profit attributable to owners reached HKD 38.6 million, compared to HKD 36.2 million in the same period last year[10]. - Retail business revenue increased by HKD 16.5 million or 4.2% to HKD 411.8 million, despite the impact of the COVID-19 pandemic and reduced customer traffic[14]. - Revenue for the six months ended September 30, 2022, was HKD 412,514,000, an increase of 4.3% compared to HKD 396,678,000 for the same period in 2021[55]. - Gross profit for the same period was HKD 128,666,000, up from HKD 115,321,000, reflecting a gross margin improvement[55]. - Operating profit increased to HKD 40,750,000 from HKD 39,155,000, indicating a growth of 4.1%[55]. - Profit for the period was HKD 38,627,000, compared to HKD 36,190,000 in the previous year, representing an increase of 6.7%[55]. - Total comprehensive income for the period was HKD 37,435,000, up from HKD 35,999,000, showing a growth of 4.0%[55]. - Basic and diluted earnings per share increased to HKD 4.2 from HKD 4.0, reflecting a 5.0% rise[55]. Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.4 per share, totaling HKD 3.6 million, consistent with the previous year[6]. - The company has not established a formal dividend policy or predetermined dividend rate[41]. - The company reported a total of 910,158,465 ordinary shares issued as of September 30, 2022, a decrease from 911,658,465 shares as of March 31, 2022[139]. - Mr. Tang holds 7,528,500 shares, representing 0.83% of the total shareholding[30]. - Mr. Ho holds 6,657,000 shares through a company, representing 0.73% of the total shareholding[30]. - Dr. Feng holds 5,856,517 shares through a controlled company, representing 0.64% of the total shareholding[30]. Assets and Liabilities - As of September 30, 2022, the company's current assets and current liabilities were approximately HKD 814.8 million and HKD 125.9 million, respectively[18]. - The total borrowings amounted to approximately HKD 27.5 million, resulting in a healthy debt-to-equity ratio of 3.8%[21]. - Total assets as of September 30, 2022, were HKD 870,362,000, compared to HKD 863,288,000 as of March 31, 2022[58]. - Net assets increased to HKD 729,939,000 from HKD 707,686,000, indicating a growth of 3.1%[58]. - Current liabilities decreased to HKD 125,867,000 from HKD 135,303,000, showing a reduction of 6.5%[58]. - Non-current liabilities increased to HKD 744,495,000 from HKD 727,985,000, reflecting a rise of 2.3%[58]. Cash Flow and Investments - The net cash generated from operating activities was HKD 51,227,000 for the six months ended September 30, 2022, compared to HKD 88,027,000 for the same period in 2021, representing a decrease of approximately 42%[64]. - The cash flow from investment activities showed a net outflow of HKD 16,557,000, a significant improvement from a net outflow of HKD 62,606,000 in the previous year[64]. - The total cash and cash equivalents at the end of the period were HKD 267,572,000, an increase from HKD 212,345,000 at the end of the previous period[64]. - The company paid dividends amounting to HKD (14,394,000) during the period, compared to no dividends paid in the same period last year[64]. - The cash inflow from financing activities was impacted by the repayment of gold loans amounting to HKD (11,710,000)[64]. Operational Developments - The company plans to modernize its store network and is seeking opportunities for expansion[15]. - A new independent watch brand partnership with Henry Moser commenced in June 2022, with a new store opening planned for December 2022[17]. - Capital expenditures during the period were approximately HKD 8.4 million, primarily for property renovations and equipment[24]. - Employee benefits expenses increased to HKD 35,082,000 for the six months ended September 30, 2022, up from HKD 33,451,000 in 2021, representing a rise of 4.9%[109]. - Capital expenditures for the group amounted to approximately HKD 8,392,000, significantly higher than HKD 1,846,000 for the same period in 2021, indicating a focus on asset enhancement[111]. Compliance and Governance - The company’s auditor has issued an unqualified opinion on the financial statements for the year ending March 31, 2022[45]. - The company has complied with all provisions of the corporate governance code during the six months ending September 30, 2022, except for one deviation regarding formal appointment letters for directors[40]. - The company’s board of directors has adhered to the securities trading code during the six months ending September 30, 2022[39]. - The company has made adjustments to its impairment assessments based on management's estimates of future cash flows, considering factors such as sales forecasts and operating cost changes[112]. Market and Economic Conditions - The group anticipates that revenue will depend on the timing of the relaxation of COVID-19 travel restrictions and the recovery of customer spending starting from the second half of the fiscal year ending March 31, 2023[114]. - The company has not identified any single customer contributing 10% or more to total revenue, indicating a diversified customer base[82]. Fair Value Measurements - The fair value of non-listed equity securities decreased from HKD 771 million as of March 31, 2022, to HKD 370 million as of September 30, 2022, representing a decline of 52%[169]. - The fair value measurement of financial assets and liabilities is categorized into three levels, with non-listed equity securities classified under Level 3 due to the use of unobservable inputs[171]. - The fair value of non-listed equity securities is sensitive to market price multiples, with a range of 0.12 to 0.85 for price-to-book ratios as of September 30, 2022[171]. - The fair value of financial liabilities is determined based on observable market data, classified under Level 1 of the fair value hierarchy[168]. - The company’s total financial liabilities from gold lending amounted to HKD 44,045 million as of September 30, 2022[168].

Financial Performance - The group reported a revenue of HKD 1.2 billion for the fiscal year ending March 31, 2022, representing a year-on-year increase of 15%[39] - The company expects a revenue growth of 10% for the upcoming fiscal year, projecting a target of HKD 1.32 billion[39] - The company recorded total revenue of HKD 819.1 million for the fiscal year, an increase of 27.9% compared to HKD 640.6 million in the previous year[47] - The net profit attributable to the company's owners reached HKD 60.0 million, up 109.8% from HKD 28.6 million in the previous year, primarily driven by revenue growth in the retail business[47] - The retail business revenue increased from HKD 639.6 million to HKD 817.4 million, reflecting a growth of 27.8% due to new store openings and improved consumer confidence[48] - The jewelry retail business achieved over 19% growth in gold sales during the year, supported by stable supply and increased customer purchases[48] - The watch business also saw significant growth of over 27% during the fiscal year, attributed to efforts in attracting new customers[49] Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[39] - A strategic acquisition of a local jewelry brand was completed, expected to enhance the company's product offerings and customer base[39] - The company plans to enhance its online sales platform, aiming for a 40% increase in e-commerce revenue by the next fiscal year[39] - The company has a strategy for market expansion and potential acquisitions, although specific details were not disclosed in the provided content[67] Product Development and Innovation - New product launches contributed to a 25% increase in sales in the jewelry segment, with a total of 150 new items introduced[39] - Research and development expenses increased by 18%, focusing on innovative jewelry designs and sustainable materials[39] Corporate Governance - The company is committed to improving corporate governance practices, with new policies set to be implemented in the next quarter[39] - The board includes a mix of executive and independent non-executive members, ensuring governance and oversight[78] - The company has established a nomination committee effective January 1, 2022, to enhance corporate governance practices[112] - The company has adopted a standard code for securities trading by directors, ensuring compliance during the fiscal year ending March 31, 2022[115] - The company has complied with the disclosure requirements under the listing rules[92] - The board has adopted a diversity policy to ensure a diverse range of skills and experiences among its members[138] Risk Management - The board emphasized the importance of risk management strategies, particularly in supply chain resilience, to mitigate potential disruptions[39] - The company has established a risk management framework guided by a "three lines of defense" model, ensuring comprehensive risk management and internal control systems[163] - The risk management committee is responsible for designing, implementing, and monitoring the risk management system, reporting to the audit committee and the board[166] - A mixed approach of top-down and bottom-up methods was used to identify risks, categorized into financial, operational, compliance, human resources, and reputational risks[173] - The audit committee oversees the risk management and internal control systems, conducting annual reviews to ensure effectiveness[165] Employee and Operational Development - The company aims to improve competitiveness and profitability by expanding its high-end customer base and investing in employee development[50] - The company has approximately 140 employees as of March 31, 2022, with a performance-based bonus reward program in place[62] - The company is focused on improving customer service through employee training programs[62] - The company has arranged and funded two training courses for directors to enhance their professional development[133] Shareholder Information - The board proposed a final dividend of HKD 0.016 per share, totaling HKD 14.6 million, compared to HKD 0.010 per share in the previous year[42] - The company has not set a formal dividend policy or predetermined payout ratio, with future dividends to be considered based on various factors[114] - The company encourages shareholder participation in annual meetings to discuss relevant matters, with all board members present during the last annual meeting[157] Financial Position - As of March 31, 2022, the company's current assets and liabilities were approximately HKD 782.7 million and HKD 135.3 million, respectively, with a healthy debt-to-equity ratio of 6.2%[54] - Capital expenditures for the year amounted to approximately HKD 10.4 million, primarily for property renovations and equipment costs[57] - The company's distributable reserves as of March 31, 2022, amount to HKD 193,321,000[72] Audit and Compliance - The consolidated financial statements for the year ending March 31, 2022, were audited by Hong Kong Li Xin De Hao CPA Limited[107] - The audit committee reviewed the interim and annual financial reports, ensuring the effectiveness of the internal control system[151] - The auditor's fees for the year amounted to approximately HKD 795,000 for audit services and HKD 188,000 for non-audit services[150] - The internal audit department plays a crucial role in providing independent assessments and assurances regarding the effectiveness of the risk management and internal control systems[180]