Financial Performance - Revenue for the six months ended September 30, 2021, was HK$4,172,121, an increase from HK$3,407,293 in the same period of 2020, representing a growth of approximately 22.5%[12] - Gross profit for the period was HK$1,177,250, compared to HK$1,012,312 in 2020, indicating a gross profit margin improvement[12] - Profit for the period was HK$137,243, slightly down from HK$140,064 in the previous year, reflecting a decrease of about 2%[15] - Total comprehensive income for the period was HK$165,353, down from HK$276,102 in 2020, showing a decline of approximately 40.1%[15] - Earnings per share attributable to ordinary equity holders was 10.0 HK cents, compared to 10.1 HK cents in the same period last year[12] - Other income and gains decreased to HK$61,720 from HK$87,652 in 2020, a decline of about 29.6%[12] - Selling and distribution expenses increased to HK$601,714 from HK$552,200, reflecting a rise of approximately 9%[12] - Administrative expenses rose to HK$455,719 from HK$332,640, indicating an increase of about 37%[12] - The Group's total revenue, including other income, reached HK$4,220,305,000, up from HK$3,479,480,000 in 2020, marking an increase of approximately 21%[46] - Profit for the period was HK$137,243,000, compared to HK$140,064,000 in the prior year, indicating a decrease of about 2%[46] Assets and Liabilities - Total non-current assets increased to HK$2,601,016,000 as of September 30, 2021, up from HK$2,535,973,000 as of March 31, 2021, representing a growth of 2.6%[17] - Current assets rose to HK$6,789,264,000, compared to HK$6,204,421,000, reflecting an increase of 9.4%[17] - Total current liabilities increased to HK$3,546,461,000, compared to HK$2,872,405,000, indicating a rise of 23.4%[17] - Non-current liabilities totaled HK$416,883,000, down from HK$468,236,000, a reduction of 10.9%[20] - Net current assets decreased to HK$3,242,803,000 from HK$3,332,016,000, a decline of 2.7%[20] - Total assets less current liabilities stood at HK$5,843,819,000, slightly down from HK$5,867,989,000, a decrease of 0.4%[20] Cash Flow and Dividends - Net cash flows from operating activities for the six months ended September 30, 2021, were HK$470,033, compared to HK$563,598 in the previous year, indicating a decrease of about 16%[26] - Cash and cash equivalents at the end of the period stood at HK$1,568,683, up from HK$1,004,125, reflecting an increase of approximately 56%[26] - Proposed interim dividends amounted to HK$110,536,000, compared to HK$138,170,000, reflecting a decrease of 20%[20] - The company declared dividends of HK$138,170 for the period, consistent with the previous year[23] Segment Performance - Segment revenue from external customers increased to HK$3,040,170,000 in 2021 from HK$2,308,488,000 in 2020, representing a growth of approximately 32%[46] - The retailing and distribution segment reported a loss before tax of HK$187,457,000, compared to a loss of HK$172,749,000 in the previous year[46] - Net sales for the retail and distribution business increased by 3.0% to HK$1,131 million for the six months ended 30 September 2021, compared to HK$1,098 million for the same period in 2020[129] - The gross profit margin for the retail and distribution business improved to 45.0%, up from 42.3% in the previous year[130] Management and Governance - The company’s audit committee has reviewed the interim results, ensuring compliance and accuracy in financial reporting[11] - The Group's finance department is responsible for determining the policies and procedures for fair value measurement, reporting directly to the Board[104] - The Audit Committee reviewed the interim report and risk management, providing recommendations to the Board[177] - The Company complied with all provisions of the Corporate Governance Code except for the chairman's attendance at the annual general meeting[178] Shareholder Information - As of September 30, 2021, Poon Bun Chak holds 698,446,104 ordinary shares, representing 50.55% of the Company's issued share capital[162] - Pandanus Associates Inc. and Pandanus Partners L.P. each hold 96,812,000 ordinary shares, representing 7.01% of the Company's issued share capital[168] - Fidelity Funds is a beneficial owner of 69,148,000 ordinary shares, representing 5.00% of the Company's issued share capital[168] Social Responsibility - The Group participated in various charitable activities, including donations to the Educational Fund in Dongguan City and the Hong Kong Red Cross[158] - The Group encourages participation in social, educational, and environmental protection activities to foster community development[158] - The Group continues to invest resources in major social and environmental activities for community betterment[158]

Financial Performance - The turnover for the year 2021 was HK$7,352 million, a decrease of 3.6% from HK$7,630 million in 2020[8]. - Profit attributable to ordinary equity holders was HK$274 million, an increase of 62.2% compared to HK$169 million in 2020[8]. - Total equity increased to HK$5,400 million, up from HK$4,930 million in 2020, reflecting a growth of 9.5%[8]. - Total assets reached HK$8,740 million, compared to HK$8,312 million in 2020, marking a rise of 5.2%[8]. - EBITDA for the year was HK$903 million, representing an increase of 10% from HK$821 million in 2020[8]. - Basic earnings per share rose to HK$19.8 cents, up from HK$12.2 cents in the previous year, reflecting a growth of 62.3%[8]. - The Group's profit attributable to shareholders increased by 62.1% to HK$274 million compared to HK$169 million in 2020[13]. - Profit before tax increased to HK$419,692, up 55% from HK$270,976 in the previous year[61]. - The gross profit margin slightly decreased to 31.0%, down from 32.0% in the previous year[15]. Dividends - Dividends per share were declared at HK$15.0 cents, compared to HK$10.0 cents in 2020, an increase of 50%[8]. - The Board has recommended a final dividend of HK10.0 cents per share, an increase of 50.0% from the previous year's total dividend of HK10.0 cents[16]. - An interim dividend of HK5.0 cents per ordinary share was paid on January 8, 2021, and a final dividend of HK10.0 cents per ordinary share is recommended for payment[56]. - The Group intends to make semiannual dividend distributions based on anticipated consolidated annual profits and other relevant factors[56]. Liquidity and Financial Stability - The current ratio improved to 2.2 times, indicating a stable liquidity position compared to 2.0 times in 2020[8]. - Cash and cash equivalents at year-end 2021 were HK$1,700 million, slightly down from HK$1,737 million in 2020[36]. - The interest cover increased to 15 times in 2021, up from 5 times in 2020, indicating improved financial stability[36]. - Current ratio at year-end was 2.2, down from 2.0 in the previous year, with total bank loans decreasing to HKD 855 million from HKD 1,230 million[38]. - Unused bank credit facilities at year-end amounted to HKD 5,910 million, compared to HKD 5,491 million in the previous year[38]. Workforce and Employment - The number of employees in Mainland China was 11,981, an increase from 11,111 in 2020, indicating a growth in workforce[8]. - The Group employed approximately 12,536 employees at year-end, an increase from 11,589 in the previous year[41]. Capital Expenditure - Capital expenditure was temporarily tightened, amounting to HK$126 million[20]. - Capital expenditures for the year totaled HKD 183 million, a decrease from HKD 222 million in the previous year, with HKD 126 million allocated to textile and apparel business[39]. - Capital expenditure for the retail and distribution business was HK$57 million in 2021, significantly lower than HK$146 million in 2020[37]. Business Operations - The textile business turnover decreased by 5.6% to HK$4,644 million, representing 63.2% of the Group's total revenue[17]. - Retail and distribution business sales amounted to HK$2,705 million in 2021, a slight decrease from HK$2,709 million in 2020, representing 36.8% of the Group's total turnover[23]. - The Group plans to establish a new garment factory in Henan, China, to enhance productivity[13]. - The Group is exploring the establishment of a new textile factory in Southeast Asia to diversify its business[53]. Environmental and Social Responsibility - The Group's environmental management system is aligned with ISO 14001:2015, aimed at reducing environmental risks and improving energy performance[43]. - The Group complied with all applicable environmental protection laws regarding wastewater and greenhouse gas emissions during the year[45]. - Charitable contributions made by the group during the year totaled HK$2,465,000, up from HK$1,136,000 in 2020[66]. - The Group actively participates in corporate social responsibility initiatives, including donations and support for educational and environmental activities[53]. Corporate Governance - The Board is responsible for the overall management of the Group and delegates day-to-day management to the executive management[109]. - The Company has arranged appropriate insurance cover for the directors in connection with their responsibilities[112]. - The Group is committed to maintaining high standards of corporate governance and enhancing corporate value and accountability[105]. - The independent non-executive directors confirmed their independence for the year ended March 31, 2021[108]. - The Company complied with all code provisions of the CG Code throughout the financial year, except for the chairman's attendance at the annual general meeting[151]. Risk Management - The Board has overall responsibility for the Group's risk management and internal control systems, which are designed to mitigate risks to an acceptable level[161]. - The Audit Committee oversees the effectiveness and efficiency of the Group's risk management and internal control systems annually[162]. - The internal audit team conducts risk-based audits on major operating activities and reports findings to the Audit Committee[163]. - A "top-down" approach is complemented by a "bottom-up" method for identifying operational risks, involving management and department heads[165]. Shareholder Engagement - The Group values feedback from shareholders to promote transparency and foster investor relationships[179]. - The Company has established a Shareholder Communication Policy to ensure quality information dissemination and engagement with shareholders[173]. - Shareholders holding at least 10% of the paid-up capital can requisition a special general meeting within two months of their request[171]. - Voting results from the AGM are posted on the Company's and Stock Exchange's websites on the same day[176].

Revenue and Profitability - Revenue for the six months ended September 30, 2020, was HK$3,407,293, a decrease of 18.8% compared to HK$4,197,328 in 2019[10] - Profit for the period attributable to ordinary equity holders was HK$140,064, representing a decline of 33.8% from HK$211,566 in 2019[10] - Basic and diluted earnings per share decreased to 10.1 HK cents, down from 15.3 HK cents in the previous year[10] - Profit before tax for the period was HK$192,943, compared to HK$255,161 in the previous year, reflecting a decrease of 24.4%[48] - The income tax expense for the period was HK$52,879, an increase from HK$43,595 in the prior year, marking a rise of 21.5%[54] - The gross profit margin was 29.7%, down 2.0 percentage points from 31.7% in the same period last year[112] Comprehensive Income and Dividends - Total comprehensive income for the period attributable to ordinary equity holders was HK$276,102, compared to HK$29,722 in 2019[13] - Interim dividends declared amounted to HK$69,085,000, consistent with the previous period[18] - The interim dividend for the six months ended 30 September 2020 was HK$69,085,000, down from HK$138,170,000 in the same period of 2019, representing a 50% decrease[57] - The interim dividend per ordinary share decreased to 5.0 HK cents from 10.0 HK cents year-over-year[57] Expenses and Cost Management - Selling and distribution expenses decreased to HK$552,200, down 19.0% from HK$680,898 in 2019[10] - Administrative expenses were reduced to HK$332,640, a decrease of 23.0% compared to HK$431,571 in 2019[10] - Finance costs decreased significantly to HK$17,642, down 49.1% from HK$34,654 in 2019[10] - The Group continued to focus on cost reduction to enhance operating profitability amid challenging market conditions[143] Assets and Liabilities - Total non-current assets decreased from HK$2,651,472,000 to HK$2,548,021,000, a decline of approximately 3.9%[15] - Current assets decreased from HK$5,660,860,000 to HK$5,271,534,000, representing a reduction of about 6.9%[15] - Total equity increased from HK$4,930,213,000 to HK$5,217,404,000, marking a growth of approximately 5.8%[18] - Cash and cash equivalents decreased from HK$1,737,012,000 to HK$1,055,710,000, a decline of approximately 39.2%[15] - The ageing analysis of trade payables showed an increase to HK$1,089,829,000 as of 30 September 2020 from HK$708,400,000 as of 31 March 2020, reflecting a significant rise in liabilities[63] Cash Flow and Financial Position - Net cash flows from operating activities for the six months ended September 30, 2020, were HK$563,598, compared to HK$502,878 in 2019[24] - Cash and cash equivalents at the end of the period were HK$1,004,125, down from HK$2,045,039 in the previous year[24] - The current ratio improved to 2.4 as of 30 September 2020, compared to 2.0 as of 31 March 2020[181] - Total bank borrowings decreased to HK$134 million from HK$1,230 million as of 31 March 2020[181] Segment Performance - The Group's operating segments include the production, dyeing, and sale of knitted fabric, yarn, and garments; retailing and distribution of casual apparel and accessories; and a segment for franchise services and property investment[41] - The textile business revenue dropped by 19.0% to HK$2,308 million, representing 67.7% of the group's total turnover[143] - Retail and distribution business sales fell by 18.4% to HK$1,098 million, accounting for 32.2% of the group's total turnover[172] Financial Instruments and Fair Value - The fair value of financial assets at fair value through profit or loss was HK$96,449,000 as of 30 September 2020, down from HK$131,722,000 as of 31 March 2020[93] - The carrying amount of debt instruments at amortised cost was HK$141,795,000 as of 30 September 2020, compared to HK$137,027,000 as of 31 March 2020[93] - The fair values of long-term rental deposits and non-current interest-bearing bank borrowings were calculated by discounting expected future cash flows using current rates for similar instruments[97] Impact of COVID-19 - The adverse market conditions due to COVID-19 led to delays and cancellations of business orders, impacting overall performance[143] - The COVID-19 pandemic has caused a significant slowdown in global economic activities, with interest rates expected to remain low for the next few years[186] - The retail business performance is anticipated to improve in the second half of 2020 as COVID-19 is under control in China[195] Management and Governance - Total compensation paid to key management personnel for the six months ended 30 September 2020 was HK$19,063,000, a decrease from HK$26,292,000 in the same period of 2019[90] - Key management personnel voluntarily waived part of their compensation totaling HK$4,876,800 due to the impact of COVID-19[90] - The Group considers that adequate tax provisions have been made in the financial statements, despite ongoing tax reviews[75] Charitable Activities and Community Engagement - The Group participated in various charitable activities, including donations to educational funds and environmental initiatives[192]

Financial Performance - Turnover for 2020 was HK$7,630 million, a decrease of 7% from HK$8,210 million in 2019[8] - Profit attributable to ordinary equity holders was HK$169 million, down 48% from HK$325 million in 2019[8] - Total equity decreased to HK$4,930 million from HK$5,378 million in 2019, reflecting a decline of 8%[8] - Total assets amounted to HK$8,312 million, down from HK$8,579 million in 2019, a decrease of 3%[8] - Basic earnings per share decreased to HK$12.2 cents from HK$23.5 cents in 2019, a decline of 48%[8] - Dividends per share were HK$10.0 cents, down from HK$30.0 cents in 2019, a reduction of 66.7%[8] - For the fiscal year ended March 31, 2020, the Group's total revenue decreased by 7.1% to HK$7,630 million, down from HK$8,210 million in 2019[21] - Profit attributable to shareholders dropped by 48.0% to HK$169 million, compared to HK$325 million in the previous year[21] - Operating profit for the year was HK$540 million, compared to HK$354 million in 2019[26] - Profit before tax for the same period was HK$270,976, down 32% from HK$397,753 in the prior year[79] Business Segments - The textile business turnover rose by 3.4% to HK$4,919 million, representing 64.5% of the Group's total revenue[23] - Retail and distribution business sales fell by 21.4% to HK$2,709 million, accounting for 35.5% of total turnover[29] - Retail and distribution business net sales decreased by 21.4% to HK$2,709 million in 2020, compared to HK$3,448 million in 2019[30] - Gross profit margin for the retail and distribution business was 47.5% in 2020, down from 50.1% in 2019[31] - Comparable store sales growth was (17.1%) in 2020, compared to (12.8%) in 2019[31] - Operating loss for the retail and distribution business was HK$316 million in 2020, compared to a loss of HK$110 million in 2019[31] - Net sales in Mainland China decreased by 25% to HK$2,085 million in 2020, down from HK$2,767 million in 2019[37] - Hong Kong net sales decreased by 8% to HK$624 million in 2020, compared to HK$681 million in 2019[39] Capital Expenditure and Assets - Capital expenditure for the year was HK$76 million, down from HK$160 million in 2019[26] - Total capital expenditure for the Group was HK$222 million in 2020, a slight decrease from HK$236 million in 2019[43] - Total assets as of March 31, 2020, amounted to HK$8,312,332,000, a decrease from HK$8,578,956,000 in 2019[82] - Total liabilities as of March 31, 2020, were HK$3,382,119,000, compared to HK$3,201,402,000 in 2019[82] Employee and Operational Metrics - The number of employees in Mainland China was 11,111, a decrease from 11,879 in 2019[8] - The number of sales associates in Mainland China decreased to 3,446 in 2020 from 4,182 in 2019[37] - The Group had approximately 11,589 employees at year-end, a decrease from 12,657 employees last year, with remuneration based on industry practices and individual performance[48] Financial Stability and Risk Management - Current ratio remained stable at 2.0 times, consistent with previous years[8] - The current ratio remained stable at 2.0, with total bank borrowings decreasing to HK$1,230 million in 2020 from HK$1,529 million in 2019[41] - Cash and cash equivalents at year-end were HK$1,737 million, down from HK$2,080 million in 2019[42] - Interest coverage ratio decreased to 5 times from 12 times last year, primarily due to the adoption of HKFRS 16 and the impact of COVID-19, resulting in a significant decline in profit before tax[45] - The Group's financial risk management details are disclosed in note 40 of the financial statements[66] Corporate Governance and Compliance - The Group is committed to high standards of corporate governance, adhering to the principles of the Corporate Governance Code[151] - The independent non-executive directors confirmed that continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[143] - Ernst & Young issued an unqualified letter regarding the Group's continuing connected transactions, confirming compliance with relevant listing rules[144] - The Board of Directors consists of six members, including three executive directors and three independent non-executive directors, ensuring compliance with the Listing Rules[160] - All independent non-executive directors confirmed their independence for the year ended 31 March 2020[160] Environmental and Social Responsibility - The Group is committed to environmental sustainability, having established environmental and energy management systems in compliance with ISO standards[50] - The Group complied with applicable environmental protection laws regarding wastewater, greenhouse gas emissions, and solid waste from textile manufacturing operations[52] - Charitable contributions made by the group during the year totaled HK$1,136,000, an increase from HK$684,000 in 2019[90] - The Group plans to continue investing resources in social, educational, and environmental protection activities for community development[60] Management and Leadership - The company has a strong management team with extensive experience in the textile industry, including over 48 years of experience from Mr. Poon Bun Chak[124] - Mr. Chan Chi Hon, the financial controller, has over 33 years of experience in auditing and accounting[124] - The company is focused on expanding its textile business, leveraging the expertise of its senior management team[125] - The principal roles of the Board include setting objectives, monitoring performance, and managing risks[164]

Financial Performance - Revenue for the six months ended September 30, 2019, was HK$4,197,328, a decrease of 3.4% from HK$4,345,938 in 2018[13] - Gross profit for the same period was HK$1,331,423, slightly down from HK$1,342,800, reflecting a gross margin of approximately 31.7%[13] - Profit for the period increased to HK$211,566, representing a growth of 11.1% compared to HK$190,446 in 2018[17] - Earnings per share attributable to ordinary equity holders of the Company rose to HK$15.3, up from HK$14.1 in the previous year[11] - Total comprehensive income for the period was HK$29,722, a significant improvement from a loss of HK$58,986 in 2018[17] - Profit before tax for the period was HK$255,161, up from HK$236,643 in 2018, reflecting an increase of approximately 7.8%[80] - The income tax expense for the period was HK$43,595, slightly down from HK$46,197 in 2018, showing a decrease of about 3.3%[82] - Interest income increased to HK$34,861 from HK$29,310 in 2018, marking a growth of approximately 19.5%[76] - The company reported a profit for the period of HK$211,566, an increase from HK$190,446 in 2018, representing a growth of about 11.1%[80] Expenses and Cost Management - Selling and distribution expenses decreased by 15.5% to HK$680,898 from HK$806,192, indicating improved cost management[13] - Administrative expenses increased slightly to HK$431,571 from HK$419,213, reflecting ongoing operational costs[13] - Other income and gains totaled HK$76,255, down from HK$81,729, indicating a decline in ancillary revenue sources[13] - The Company reported finance costs of HK$34,654, which increased from HK$15,121, suggesting higher borrowing costs[13] - The segment results for the retailing and distribution of yarn and seamless garments showed a loss of HK$62,677, compared to a loss of HK$14,827 in 2018, indicating a worsening performance[74] Assets and Liabilities - Total non-current assets increased to HK$2,859,068,000 as of September 30, 2019, from HK$2,380,992,000 as of March 31, 2019, representing a growth of approximately 20%[19] - Current assets rose to HK$6,358,157,000 as of September 30, 2019, compared to HK$6,197,964,000 as of March 31, 2019, indicating an increase of about 2.6%[19] - Total current liabilities rose to HK$3,523,820,000 as of September 30, 2019, from HK$3,065,547,000 as of March 31, 2019, which is an increase of approximately 15%[22] - Net current assets decreased to HK$2,834,337,000 as of September 30, 2019, from HK$3,132,417,000 as of March 31, 2019, indicating a decline of about 9.5%[22] - Total equity attributable to ordinary equity holders of the Company was HK$5,200,022,000 as of September 30, 2019, compared to HK$5,377,554,000 as of March 31, 2019, reflecting a decrease of approximately 3.3%[22] Cash Flow and Dividends - Net cash flows from operating activities for the six months ended September 30, 2019, were HK$502,878, compared to a cash outflow of HK$104,462 in the same period of 2018[28] - Cash and cash equivalents at the end of the period increased to HK$2,045,039 from HK$1,416,152 in the previous year[28] - The company declared dividends of HK$207,254, consistent with the previous period's dividend[25] - The interim dividend declared is HK$138,170,000, down from HK$207,254,000 in the previous year, representing a decrease of approximately 33.4%[86] - The interim dividend per ordinary share is 10.0 HK cents, compared to 15.0 HK cents in the previous year, indicating a reduction of 33.3%[86] Accounting Standards and Policies - The Group adopted HKFRS 16 using the modified retrospective method with the date of initial application on 1 April 2019[48] - The adoption of the new and revised HKFRSs, except for HKFRS 16, had no significant financial effect on the condensed interim financial statements[43] - The Group's accounting policies remain consistent with those used in the annual financial statements for the year ended 31 March 2019[45] - The Group recognized an increase in right-of-use assets amounting to HK$720,297,000[59] - Total assets increased by HK$705,482,000 following the adoption of HKFRS 16[59] Segment Performance - Segment revenue for the production, dyeing, and sale of knitted fabric was HK$2,849,791, an increase from HK$2,625,980 in 2018, representing a growth of approximately 8.5%[74] - Textile business revenue increased by 8.5% to HK$2,850 million, accounting for 67.9% of the Group's total turnover[143] - Retail and distribution business sales dropped by 21.7% to HK$1,346 million, representing 32.1% of the Group's total turnover[171] - The gross profit margin for the retail and distribution business was 49.8%, a decrease of 1.0 percentage point from the previous year[171] Market Conditions and Outlook - The Group focused on closing underperforming stores and accelerating the development of export franchising business in response to challenging market conditions[171] - The Group's fabric business is not directly impacted by the US-China trade war, but the global economic slowdown may negatively affect its export business[191] - The retail business faces significant challenges due to the US-China trade dispute and social unrest in Hong Kong[192] - The Group maintains a prudent but positive outlook for performance in the second half of the year despite an uncertain operating environment[195]

Financial Performance - Turnover for 2019 was HK$8,210 million, a decrease of 3.8% from HK$8,531 million in 2018[9] - Profit attributable to ordinary equity holders was HK$325 million, up from HK$304 million in 2018, representing a growth of 6.9%[9] - Total equity decreased to HK$5,378 million from HK$5,725 million in 2018, a decline of 6.1%[9] - Total assets were HK$8,579 million, down from HK$9,220 million in 2018, reflecting a decrease of 7.0%[9] - EBITDA for the year was HK$693 million, down from HK$769 million in 2018, a decline of 9.9%[9] - Basic earnings per share increased to HK$23.5 cents from HK$22.0 cents, marking a rise of 6.8%[9] - Dividends per share were HK$30.0 cents, down from HK$35.0 cents in 2018, a decrease of 14.3%[9] - Profit before tax for the year was HK$397,753, down from HK$467,858 in the previous year, indicating a decrease of about 15%[78] - Profit for the year attributable to ordinary equity holders was HK$320,417, slightly up from HK$316,750 in 2018, showing a marginal increase of 0.2%[78] - Total liabilities decreased to HK$3,201,402 from HK$3,494,818 in 2018, a reduction of about 8.4%[80] Business Segments - Textile business turnover rose by 4.9% to HK$4,759 million, representing 58.0% of the Group's total turnover[27] - Retail and distribution business sales decreased by 13.6% to HK$3,448 million, accounting for 42.0% of total turnover[34] - Comparable store sales growth was (12.8%) in 2019, compared to (6.9%) in 2018[36] - Net sales in Mainland China decreased by 19% to HK$2,767 million, with a retail floor area of 1,626,047 sq. ft.[44] - Hong Kong net sales increased by 18% to HK$681 million, with a retail floor area of 87,752 sq. ft.[46] - Garment manufacturing revenue decreased by 37.4% to HK$196 million, with a net profit contribution of HK$55 million[47] Employee and Operational Metrics - The number of employees totaled 12,657, a decrease from 13,345 in 2018, reflecting a reduction of 5.2%[9] - The Group's current ratio remained stable at 2.0, consistent with the previous year[9] - Capital expenditure for the year was HK$160 million, slightly down from HK$162 million in the previous year[30] - The Group had approximately 12,657 employees at year-end, down from 13,345 in 2018, with remuneration based on industry practices and individual performance[58] Financial Position and Cash Flow - Cash and cash equivalents decreased to HK$2,080 million from HK$2,445 million in 2018, primarily due to tax reserve certificate purchases[51] - The Group maintained a strong financial position with a current ratio of 2.0, total bank loans of HKD 1,529 million, and a capital debt ratio of -0.1 at year-end[54] - The Group's cash and cash equivalents were primarily placed in fixed deposits with established financial institutions, with a maturity due within one year[58] Governance and Management - The Group's senior management includes individuals with extensive experience, such as Mr. Chan Chi Hon with over 32 years in auditing and accounting[104] - The Company has a strong governance structure with independent non-executive directors possessing significant industry experience[97][98][99] - The Board comprised six members as of March 31, 2019, including three executive directors and three independent non-executive directors[131] - The roles of the executive chairman and the chief executive officer are segregated, with Mr. Poon Bun Chak as the executive chairman and Mr. Ting Kit Chung as the CEO[131] - The Company has established three board committees to oversee specific aspects of its affairs, with terms of reference approved by the Board[149] Risk Management and Compliance - The Board is responsible for the Group's risk management and internal control systems, which aim to mitigate inherent business risks[190] - The internal audit team conducts risk-based audits on major operating activities and reports findings to the Audit Committee[192] - The Group has established policies to ensure timely and equal dissemination of inside information to the public[196] - The Group has adopted a whistleblowing policy to facilitate confidential reporting of misconduct by employees and stakeholders[200] Future Outlook and Strategy - The Group remains optimistic about future prospects despite facing a challenging operating environment due to global economic uncertainties[21] - The Group plans to introduce more new and value-added products to improve business performance, supported by a strong research and development team[70] - The retail sector will implement stringent cost control measures to reduce operational expenses and further develop kids' products to broaden the customer base[70] - The Group aims to expand its overseas franchising business as a core focus[70]