Business Strategy and Growth - The company aims to become a leading financial investor in the region, with a focus on providing high-quality financial products to achieve stable profits[5]. - The company plans to expand its market presence and enhance its product offerings through new technology and product development initiatives[5]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its business portfolio[5]. - The company is actively engaging in strategic partnerships to leverage synergies and drive growth in its core business areas[5]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year[39]. - A strategic acquisition is in progress, which is anticipated to enhance the company's product offerings and increase market competitiveness[39]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[126]. Financial Performance - The company reported a significant increase in revenue from its core business segments, with financial investment and retail clothing showing strong growth[5]. - The revenue for the last fiscal year reached $500 million, representing a 15% increase compared to the previous year[40]. - The company reported a significant increase in revenue for the fiscal year 2020, achieving a total of HKD 1.2 billion, representing a growth of 15% compared to the previous year[126]. - The total revenue for the year 2020 was HKD 707,548,000, a decrease of 41.64% compared to HKD 1,212,288,000 in 2019[57]. - Profit attributable to equity holders was HKD 90,018,000, down 18.45% from HKD 110,383,000 in the previous year[57]. - The company reported a net profit margin of 12%, reflecting effective cost management and operational efficiency[126]. - The profit attributable to equity holders decreased by 18.45% to HKD 90,018,000, compared to HKD 110,383,000 in 2019[77]. - The company’s total equity attributable to equity holders increased to HKD 2,578,352,000 from HKD 2,515,126,000 in 2019[98]. Shareholder Returns - The company plans to declare a final dividend for the fiscal year ending December 31, 2020, reflecting its commitment to shareholder returns[10]. - The company proposed a final dividend of HKD 0.042 per share, an increase of 23.53% from HKD 0.034 per share in 2019[58]. - The company proposed a final dividend of HKD 0.042 per share, totaling HKD 92,330,000 for the year, which represents 102.57% of the profit attributable to equity holders[78]. - The group reported a mid-term dividend of HKD 0.018 per share distributed on September 29, 2020, and proposed a final dividend of HKD 0.042 per share for shareholders listed on June 10, 2021[200]. Corporate Governance - The company is focused on enhancing its corporate governance and transparency through regular audits and compliance measures[6]. - The company emphasized its commitment to corporate governance, adhering to the principles outlined in the Hong Kong Stock Exchange's corporate governance code[128]. - The board of directors consists of at least three independent non-executive directors, ensuring compliance with listing rules and enhancing oversight[135]. - The company has established a dedicated committee to monitor and review corporate governance practices regularly, ensuring alignment with best practices[129]. - All independent non-executive directors confirmed their independence annually as per listing rules, with the board affirming their independence[141]. - The company has adopted a board diversity policy to enhance performance quality, considering various factors such as gender, age, and professional experience[137]. Operational Efficiency - The company has invested $10 million in research and development for new technologies aimed at improving operational efficiency[39]. - The internal audit department operates independently and follows the COSO control framework to evaluate the effectiveness of risk management and internal control systems[177]. - The company aims to focus on "quality management" and "precise management" to enhance competitiveness and achieve sustainable development[73]. - The company adjusted its investment and marketing strategies in response to the impacts of COVID-19 and the US-China trade tensions[54]. Market Conditions - The anticipated economic growth for China in 2020 is projected to decline to 2.3% from 6.1% in 2019, while Hong Kong's economy is expected to contract by over 6%[53]. - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[39]. - User data showed a 20% increase in active users, reaching 500,000 by the end of 2020, indicating strong customer engagement[126]. Risk Management - The board of directors is responsible for the risk management and internal control systems, which are reviewed at least annually[173]. - The company has adopted a policy for insider information to ensure timely and equal disclosure to the public[170]. - The company has established a code of conduct for securities trading by employees to prevent insider trading[169].

Financial Performance - The company reported a total revenue of HKD 457,785,000 for the six months ended June 30, 2020, a decrease of 30.9% compared to HKD 663,544,000 in the same period of 2019[8]. - Gross profit for the period was HKD 74,291,000, representing a gross margin of 16.2%, down from HKD 114,135,000 and a gross margin of 17.2% in the previous year[8]. - The net profit attributable to equity holders was HKD 36,484,000, a decline of 34.6% from HKD 55,761,000 in the prior year[11]. - Basic earnings per share decreased to HKD 2.39 from HKD 3.65, reflecting a 34.5% drop year-over-year[13]. - The company declared an interim dividend of HKD 1.80 per share, down from HKD 2.60 in the previous year, indicating a reduction of 30.8%[13]. - For the six months ended June 30, 2020, the total comprehensive income amounted to HKD 26,174,000, compared to a loss of HKD 53,148,000 in the same period of 2019, representing a significant turnaround[25]. - The company reported a profit before tax of HKD 63,220,000 for the six months ended June 30, 2020, down from HKD 70,924,000 in the same period of 2019, indicating a decline of about 10.5%[40]. - The interim profit for the period was HKD 56,843,000, compared to HKD 55,761,000 for the same period in 2019, showing a slight increase of approximately 1.9%[40]. Assets and Liabilities - Total assets as of June 30, 2020, were HKD 3,008,651,000, compared to HKD 3,453,324,000 as of December 31, 2019, representing a decrease of 12.9%[19]. - Current assets increased to HKD 2,022,419,000 from HKD 1,791,099,000, showing a growth of 12.9% year-over-year[19]. - The company’s total liabilities were HKD 474,615,000, slightly up from HKD 449,456,000, indicating a 5.6% increase[19]. - The net asset value attributable to equity holders decreased to HKD 2,488,310,000 from HKD 2,515,126,000, a decline of 1.1%[22]. - The total equity attributable to equity holders of the company as of June 30, 2020, was HKD 2,506,687,000, a decrease from HKD 2,524,203,000 as of June 30, 2019[25]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2020, was HKD 65,184,000, a recovery from a cash outflow of HKD 14,677,000 in the prior year[27]. - The company reported a decrease in cash and cash equivalents of HKD 156,520,000 for the period, compared to a decrease of HKD 435,219,000 in the same period of 2019[27]. - As of June 30, 2020, the cash and cash equivalents balance was HKD 577,296,000, down from HKD 625,956,000 at the end of June 2019[27]. - The company’s investment activities resulted in a net cash outflow of HKD 163,756,000 for the six months ended June 30, 2020, compared to a net inflow of HKD 84,866,000 in the prior year[27]. - The net cash and cash equivalents as of June 30, 2020, were HKD 2,571,973,000, a slight increase of 0.33% from HKD 2,563,490,000 at the end of 2019[78]. Market and Operational Insights - The company is focusing on expanding its market presence and enhancing its product offerings through new technology and strategic initiatives[8]. - Sales of apparel exports to the United States dropped by 65.82% due to the impact of COVID-19[68]. - Revenue from the retail and overseas franchise business of the brand "Jusco" declined by 35.48%[68]. - The financial investment business recorded a growth of 37.31% despite the challenging environment[68]. - Revenue from interior design and renovation increased slightly by 0.98%, reaching HKD 313,023,000 compared to HKD 309,973,000 in the previous year[75]. - Retail and overseas franchise and wholesale revenue decreased by 35.48%, from HKD 26,246,000 to HKD 16,935,000 year-on-year[77]. Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the deviation regarding the attendance of the chairman at the annual general meeting due to COVID-19[92]. - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and internal controls for the interim results[97]. - The company did not report any changes in the securities transactions of directors during the six months ended June 30, 2020[95]. - The company has not disclosed any new product or technology developments in the provided documents[100]. - There are no reported mergers or market expansions in the provided documents[100].

Business Strategy and Goals - The company aims to become a leading financial investor in the region, focusing on providing high-quality financial products to achieve stable profits[3]. - The retail business targets to be the market leader in the local clothing retail sector, enhancing customer satisfaction and shareholder returns[3]. - The company plans to expand its clothing export business to become one of the best suppliers for clothing operators[3]. - The interior design and renovation business aspires to be an industry leader, ensuring value-added services for customers[3]. - The company emphasizes the importance of sustainable growth and social benefits for all stakeholders involved[3]. Financial Performance - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[31]. - The total revenue for the year 2019 was HKD 1,212,288,000, a decrease of 4.62% from HKD 1,271,001,000 in 2018[53]. - The company's net profit attributable to shareholders was HKD 110,383,000, representing an increase of 2.75% compared to HKD 107,430,000 in the previous year[53]. - Earnings per share (basic) rose to HKD 7.22, up 3.14% from HKD 7.00 in 2018[53]. - The financial and property investment business generated revenue of HKD 118,505,000, down 6.32% from HKD 126,501,000 in 2018[55]. - Export business revenue fell significantly by 40.09% to HKD 335,934,000 from HKD 560,761,000 in the previous year[58]. - The total revenue for the interior design and renovation business reached HKD 705,194,000 for the year ended December 31, 2019, representing a 40.16% increase compared to HKD 503,151,000 in 2018[62]. - The group's consolidated revenue decreased by 4.62% to HKD 1,212,288,000 for the year ended December 31, 2019, down from HKD 1,271,001,000 in 2018[74]. - The profit attributable to equity holders of the company was HKD 110,383,000 for the year ended December 31, 2019, reflecting a 2.75% increase from HKD 107,430,000 in 2018[74]. Shareholder Matters - The annual general meeting will address the declaration of a final dividend for the year ending December 31, 2019[8]. - The company proposed a final dividend of HKD 3.40 per share, an increase from HKD 3.36 per share in 2018[54]. - The board proposed a final dividend of HKD 0.034 per share, totaling HKD 91,700,000 for the year, which is 83.07% of the profit attributable to equity holders[75]. - The company will also suspend share transfer registration from May 22 to May 26, 2020, for the distribution of proposed final dividends[19]. - The interim dividend of HKD 0.026 per share was distributed on September 20, 2019, and the board recommends a final dividend of HKD 0.034 per share to be paid on May 26, 2020[192]. Corporate Governance - The board of directors will propose the appointment of several executive and independent non-executive directors during the annual general meeting[8]. - The company emphasizes the importance of board diversity in skills, knowledge, and experience to align with business needs[20]. - The company has confirmed that the independent directors meet the independence guidelines as per the listing rules[20]. - The company is committed to maintaining compliance with all relevant listing rules and regulations regarding board composition and governance[125]. - The company established an Audit Committee in 1998, currently composed of three independent non-executive directors, to oversee financial reporting and risk management[140]. Risk Management and Compliance - The company has a risk management and internal control system in place, which is reviewed at least annually to ensure its effectiveness[166]. - The board believes that the internal control system is sufficient and effective, complying with the relevant code provisions under the corporate governance code[170]. - The company has a policy for the disclosure of inside information to ensure confidentiality until public release in accordance with regulations[172]. - The company has not hedged its foreign currency risks and closely monitors foreign exchange rate fluctuations[81]. - The COVID-19 pandemic has introduced uncertainties that may impact the company's operations and financial condition, which are being closely monitored[94]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to $1.32 billion[31]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[31]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share within the next two years[31]. - The management aims to adopt new technologies and environmental concepts in renovation projects to explore new opportunities[71]. Customer and Market Insights - User data showed a growth in active users, reaching 5 million, which is a 25% increase compared to the previous year[31]. - Customer satisfaction ratings improved, with a reported 90% satisfaction rate, up from 85% last year[31]. - Sales to the top five customers accounted for 65.12% of the total sales, with the largest customer, Jeanswest Corporation Pty. Ltd., contributing 40.91%[200].

Financial Performance - For the six months ended June 30, 2019, the company reported revenue of HKD 603,882,000, a decrease of 4.5% compared to HKD 630,719,000 in the same period of 2018[7] - The gross profit for the same period was HKD 114,135,000, down 14.4% from HKD 133,322,000 year-on-year[7] - The profit attributable to equity holders of the company was HKD 56,843,000, a decrease of 35.3% compared to HKD 87,755,000 in the previous year[7] - Basic and diluted earnings per share from continuing operations were HKD 3.65, compared to HKD 5.63 in the previous year[12] - The total comprehensive income for the period was HKD 109,979,000, significantly up from HKD 11,139,000 in the same period last year[14] - The company reported total revenue of HKD 674,510,000 for the six months ended June 30, 2019[53] - The net profit from continuing operations for the same period was HKD 56,843,000[61] - The net profit attributable to shareholders for the first half of 2019 was HKD 55,761,000, an increase of 44.38% from HKD 38,620,000 in the same period last year[110] - Basic earnings per share for the first half of 2019 rose to HKD 3.65, a 45.42% increase from HKD 2.51 in the previous year[110] Assets and Liabilities - Non-current assets totaled HKD 1,688,444,000, down from HKD 1,896,451,000 at the end of 2018[16] - Current assets decreased to HKD 1,294,734,000 from HKD 1,451,454,000 at the end of 2018[16] - Current liabilities were reduced to HKD 427,821,000 from HKD 877,769,000 at the end of 2018, indicating improved liquidity[16] - The total assets of the company as of June 30, 2019, amounted to HKD 49,242,000[39] - The total liabilities, including current and non-current lease liabilities, were HKD 53,207,000[41] - As of June 30, 2019, accounts receivable totaled HKD 216,875,000, an increase from HKD 171,890,000 as of December 31, 2018, with aging analysis showing amounts less than four months at HKD 175,692,000[79] - Accounts payable as of June 30, 2019, amounted to HKD 101,292,000, down from HKD 134,554,000 as of December 31, 2018, with amounts less than four months at HKD 100,522,000[80] Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2019, was HKD (14,677,000), compared to HKD 11,555,000 for the same period in 2018, indicating a significant decline[22] - The net cash flow from investing activities was HKD 84,866,000, while in 2018 it was HKD (9,494,000), showing a positive shift in investment cash flow[22] - The net cash flow from financing activities was HKD (505,408,000) for the first half of 2019, compared to HKD (475,235,000) in the same period of 2018, reflecting increased financing outflows[22] - Cash and cash equivalents decreased by HKD 435,219,000 in the first half of 2019, compared to a decrease of HKD 286,270,000 in the same period of 2018[22] - As of June 30, 2019, cash and cash equivalents stood at HKD 625,956,000, down from HKD 684,861,000 a year earlier[22] Dividends - The company declared an interim dividend of HKD 2.60 per share, slightly up from HKD 2.50 in the previous year[12] - The company declared an interim dividend of HKD 0.026 per share for the six months ended June 30, 2019, compared to HKD 0.025 per share in 2018[104] - The company plans to pay the interim dividend on September 20, 2019, to shareholders listed as of September 6, 2019[105] Share Capital and Ownership - The company had issued share capital of HKD 152,834,000 as of June 30, 2019, slightly down from HKD 152,876,000 as of December 31, 2018[86] - The company reported a net increase in issued shares from 1,528,760,000 to 1,528,336,000 due to share buybacks[84] - As of June 30, 2019, the company reported a total of 968,358,499 shares held by its directors, representing 63.36% of the issued share capital[126] - Major shareholders include Glorious Sun Holdings (BVI) Limited with 622,263,000 shares (40.715%) and Advancetex Holdings (BVI) Limited with 207,810,000 shares (13.597%) as of June 30, 2019[133] Corporate Governance - The company has complied with the corporate governance code except for deviations noted in A.5.5(2) and A.6.7[136] - The company’s independent non-executive directors, who serve on more than seven listed companies, were re-elected at the 2019 annual general meeting[137] - The company’s board believes that the independent non-executive directors will dedicate sufficient time and focus to the company’s affairs despite their other commitments[137] - The company has adopted a stock option plan effective from June 2, 2015, which is valid for ten years unless amended or terminated[130] - No other individuals, apart from the directors, disclosed any interests or short positions in the company's shares as of June 30, 2019[129] - The company’s independent non-executive directors were unable to attend the 2019 annual general meeting due to prior commitments[138] - There were no changes in director information that required disclosure since the publication of the 2018 annual report[139] Employee Information - The company has approximately 750 employees, with compensation levels aligned with market averages[120] - The fixed monthly salaries for executive directors were adjusted, with the highest being HKD 93,500 for Mr. Bao Shiji[144] Financial Reporting Standards - The company adopted new and revised Hong Kong Financial Reporting Standards effective January 1, 2019, which did not have a significant financial impact on the financial statements[29] - The implementation of HKFRS 16 "Leases" requires the company to recognize all leases on the balance sheet, affecting the accounting treatment of lease liabilities and right-of-use assets[30] - The company has chosen to exempt low-value asset leases and short-term leases from recognizing right-of-use assets and lease liabilities[31] - The initial measurement of lease liabilities is based on the present value of remaining lease payments, discounted at the company's incremental borrowing rate as of January 1, 2019[34] - The audit committee consists of four independent non-executive directors who reviewed the accounting principles and internal controls for the interim results[145] Segment Performance - The company’s segment revenue from export business was HKD 270,131,000 for the six months ended June 30, 2019[51] - The company's total sales for the first half of 2019 amounted to HKD 663,544,000, a decrease of 4.60% compared to HKD 695,571,000 in the same period last year[110] - The export sales decreased by 9.16%, totaling HKD 264,463,000, down from HKD 291,135,000 in the previous year[113] - Retail and overseas franchise and wholesale sales dropped significantly by 26.09%, amounting to HKD 26,246,000, compared to HKD 35,510,000 last year[114] - The indoor design and renovation business saw a revenue increase of 7.15%, reaching HKD 309,973,000, up from HKD 289,294,000 in the previous year[117] Financing Costs and Tax - The company incurred financing costs of HKD 4,724,000 during the reporting period[58] - The deferred tax expense for the period was HKD 6,377,000[60] - The company’s debt instruments had a total face value of HKD 1,838,503,000 as of June 30, 2019, down from HKD 1,857,333,000 at the end of 2018[119] Future Outlook - The company expects stable performance in financial and property investment, as well as indoor design and renovation businesses, provided that trade negotiations between China and the US improve[121]

旭 日 企 業 有 限 公 司 ( 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ) 股份代號：393 2018業績報告 Jeans west 核心業務 ● 金融投資 ● 服裝零售 ● 服裝出口 ● 室內設計及裝修 企業宏圖 金融投資業務 成為區內突出的金融投資者 零售業務 成為所處地區服裝零售巿場的領導者 出口業務 成為服裝經營者的最佳供應商之一 室內設計及裝修業務 成為行業的領先者 企業使命 ● 向顧客提供物超所值的產品及服務 ● 做好優質金融產品投資達致穩健利潤 務求令： ‧ 顧客滿意、 ‧ 員工有機會發揮所長、 ‧ 股東獲取合理回報、 ‧ 合作伙伴同步成長， 最終獲取社會效益。 旭 日 企 業 有 限 公 司 集團資料 2 股東週年大會通告 4 董事長報告 9 管理層討論與分析 15 財務摘要 19 企業管治報告 22 董事局報告 33 獨立核數師報告 47 合併損益表 53 合併全面收入表 54 合併財務狀況表 55 合併股東權益變動表 57 合併現金流量表 59 財務報表附註 62 財務概要 177 集團資料 一零 | 八年業績 報 | --- | --- | --- | --- | --- ...