Financial Performance - Revenue for the six months ended December 31, 2019, was HKD 286,211,000, an increase of 16.9% compared to HKD 244,755,000 in the same period of 2018[10] - Gross profit for the same period was HKD 77,437,000, representing a gross margin of 27.0%, up from HKD 58,592,000 in 2018[10] - Net profit for the period was HKD 5,911,000, a significant increase of 136.7% compared to HKD 2,496,000 in the previous year[10] - Basic earnings per share increased to HKD 0.1 from HKD 0.04, reflecting improved profitability[11] - The company reported a net profit margin of 18.36%, indicating strong profitability despite market challenges[21] - The profit attributable to shareholders for the six months ended December 31, 2019, was HKD 6,788,000, compared to HKD 2,498,000 for the same period in 2018, representing a significant increase of 171.5%[64] - The weighted average number of ordinary shares used to calculate basic earnings per share remained unchanged at 6,831,182,580 for both 2019 and 2018[64] Cash Flow and Assets - Cash and cash equivalents decreased to HKD 547,336,000 from HKD 621,380,000, indicating a cash outflow during the period[17] - The company reported a net cash outflow from operating activities of HKD 9,911,000, compared to HKD 15,664,000 in the previous year[18] - Investment activities resulted in a net cash outflow of HKD 51,594,000, a decrease from HKD 141,159,000 in the same period last year[18] - Total assets as of December 31, 2019, were HKD 2,586,676,000, slightly down from HKD 2,591,757,000 as of June 30, 2019[12] - The total equity attributable to owners of the company was HKD 2,218,407,000, down from HKD 2,238,793,000 as of June 30, 2019[14] Accounting Standards and Financial Reporting - The company has adopted new accounting standards, including HKFRS 16, which may impact financial reporting but has not significantly affected the reported amounts[26] - The adoption of HKFRS 16 resulted in the recognition of right-of-use assets amounting to HKD 1,645 million as of July 1, 2019[32] - The total lease liabilities recognized on July 1, 2019, amounted to HKD 1,680 million, with current liabilities of HKD 958 million and non-current liabilities of HKD 722 million[37] - The impact of adopting HKFRS 16 did not affect the opening equity balance[32] - The new definition of leases under HKFRS 16 allows for the recognition of assets and liabilities for most leases, significantly changing the accounting treatment[42] - The group has opted not to capitalize low-value assets and leases with a term of less than 12 months under HKFRS 16[45] Strategic Outlook and Future Plans - Future outlook indicates a focus on expanding market presence and enhancing product offerings, with an emphasis on innovation and technology development[27] - The company plans to invest in new product development, aiming to capture a larger market share in the upcoming fiscal year[27] - The strategic focus for the upcoming year includes enhancing customer engagement through digital platforms and improving service delivery[27] - The management provided guidance for the next quarter, projecting a revenue growth of 10% to 12% based on current market trends[21] - The outlook for 2020 is challenging due to ongoing trade tensions between China and the US, Brexit uncertainties, and the impact of the COVID-19 pandemic on consumer demand, particularly for luxury goods[122] Investments and Acquisitions - The group completed the acquisition of 85% equity in two US jewelry companies for a total consideration of USD 5,100,000 (approximately HKD 39,829,000) on August 7, 2019[111] - The group acquired subsidiaries for HKD 295,680,000 during the period, contributing to the increase in development properties[76] - The group has invested a total of HKD 18,000,000 in the Metropolitan Opportunity Fund SPC, focusing on underperforming assets to transform them into boutique serviced apartments and offices[120] Operational Efficiency - The financial report highlights a significant increase in operational efficiency, with a reduction in costs by approximately 5.6% compared to the previous year[21] - The company experienced a foreign exchange loss of HKD 7,506,000 during the period, compared to a loss of HKD 17,887,000 in the previous year[10] Shareholder Information - The company did not recommend any interim dividend for the six months ended December 31, 2019, consistent with the previous year[61] - The company’s major shareholder, Dr. Chen Shengze, holds 74.12% of the company’s issued share capital[139] - The company’s major shareholder, Dr. Chen Shengze, provided a loan of RMB 4,000,000 (approximately HKD 4,481,000)[131] Risk Management - The company has entered into forward foreign exchange contracts to mitigate currency risk due to fluctuations in the British Pound[135] - The company’s financial risk management strategy is conservative, maintaining market risk at minimal levels[135] Employee Information - As of December 31, 2019, the company employed approximately 677 staff, an increase from 664 as of June 30, 2019[132]

Financial Performance - The Group's consolidated revenue increased by approximately HK$49.1 million or 12.5%, from HK$391.9 million in the previous year to HK$441.0 million[20] - Profit attributable to owners of the Company was HK$43.7 million, a significant decrease from HK$354.8 million in the previous year[20] - The decrease in profit was primarily due to the absence of a one-off gain from the disposal of a 50% joint venture in a shopping mall in Shanghai, which amounted to approximately HK$363.2 million[20] - The profit sharing from the joint venture recorded in 2018 was approximately HK$68.9 million, which was not present in the current year[20] - Basic earnings per share decreased to HK$0.64 cent from HK$5.19 cent in the previous year[20] Revenue Segments - The Group's jewellery revenue increased by approximately HK$32.9 million or 8.5%, from HK$386.3 million to HK$419.2 million[25] - The segment result decreased from HK$7.7 million to approximately HK$5.2 million for the year ended 30 June 2019[25] - The revenue increase is attributed to the expansion of the jewellery business in the UK initiated in November 2018[25] - The prolonged US-China trade tensions are expected to significantly impact the luxury market, particularly with a drop in jewellery sales in the USA due to tariffs imposed in September 2019[35] - The jewellery business in the UK is expected to deliver better results due to higher efficiency and cost savings from combined operations[35] Investments and Acquisitions - The Group has acquired 12 floors of the Yuen Long Properties for HK$129 million, with a gross floor area of approximately 14,508 sq. ft.[30] - The redevelopment of the Wan Chai Property is expected to be completed in 2021, with a total gross floor area of approximately 86,970 sq. ft.[30] - The Group invested HK$18 million into the Metropolitan Opportunity Fund SPC, focusing on repositioning underperforming assets[32] - The expected completion date for the redevelopment of the Cheung Wah Property is around the second quarter of 2022[32] - The Group acquired 90% interests in Equal Glory Limited for approximately HK$159,912,000, making Equal Glory a 90% owned subsidiary[47] Financial Position - As of June 30, 2019, the Group's gearing ratio was 0.0692, indicating a low level of debt relative to equity[41] - Cash and cash equivalents decreased to HK$621,380,000 as of June 30, 2019, down from HK$1,128,664,000 in 2018, primarily due to property acquisitions and loan repayments[41] - The Group's investment properties and other assets had a net carrying value of HK$1,823,879,000 as of June 30, 2019, up from HK$1,320,921,000 in 2018[41] - The Group's bank loans amounted to HK$743,575,000 as of June 30, 2019, an increase from HK$611,000,000 in 2018[41] - The Group's total borrowings are denominated in Hong Kong Dollar and Renminbi, with interest rates linked to the Hong Kong Interbank Offered Rate and the People's Bank of China's benchmark lending rate[43] Corporate Governance - The company has complied with the Corporate Governance Code during the financial year ended 30 June 2019, with deviations from provisions A.2.1, A.4.1, A.6.7, and C.2.5 explained in subsequent paragraphs[99] - The Board held six meetings during the financial year ended 30 June 2019, with full attendance from executive directors[105] - The company has arranged Directors and Officers Liability Insurance for its Directors and Officers[109] - The Company is committed to maintaining high standards of corporate governance practices to maximize shareholder benefits[98] - The Company has established a Nomination Committee responsible for formulating nomination policy and making recommendations to the Board on the nomination and appointment of Directors[126] Risk Management - The Group employs conservative strategies for financial risk management, keeping market risk to a minimum, with all transactions primarily denominated in US Dollar, Hong Kong Dollar, and Renminbi[69] - The Group entered into foreign exchange forward contracts to minimize exchange rate risk due to fluctuations in the British Pound[69] - The Group's risk management and internal control systems have been evaluated on an ongoing basis, with no significant weaknesses identified[158] - The Audit Committee is responsible for overseeing the financial reporting system, risk management, and internal control systems[164] - The effectiveness of the Group's risk management and internal control systems is regularly reviewed by the Audit Committee[164] Shareholder Communication - The Company maintains a corporate website to publish financial reports and shareholder information, enhancing communication with shareholders[189] - The proposed final dividend will be paid on or about January 2, 2020, subject to shareholder approval at the AGM[73] - All resolutions at general meetings will be conducted by poll, except for procedural matters allowed by the Chairman[196] - The Chairman of the AGM will explain the voting procedures at the start of the meeting, with results published the following business day[200] - The Company ensures that all Directors receive adequate and reliable information in a timely manner[112]

Financial Performance - Revenue for the six months ended December 31, 2018, was HKD 244,755,000, an increase of 19% compared to HKD 205,527,000 in the same period of 2017[3] - Gross profit for the same period was HKD 58,592,000, up from HKD 40,778,000, reflecting a significant increase in profitability[3] - The net profit attributable to the owners of the company for the period was HKD 2,496,000, a decrease of 96.5% from HKD 71,648,000 in the previous year[3] - Total comprehensive income for the period was HKD (15,054,000), compared to HKD 131,620,000 in the same period last year, indicating a substantial decline[6] - The group recognized a net profit before tax of HKD 2,772 thousand, down from HKD 4,622 thousand in the previous year, indicating a decline of approximately 40%[55] - For the six months ended December 31, 2018, the profit attributable to the company's owners was HKD 2,498,000, a significant decrease of 96.5% compared to HKD 71,650,000 for the same period in 2017[65] - The basic earnings per share for the six months ended December 31, 2018, was HKD 0.000366, compared to HKD 0.0105 for the same period in 2017[67] - The basic earnings per share for the period were HKD 0.04, down from HKD 1.05 in the previous year[110] Assets and Liabilities - The company's total assets as of December 31, 2018, were HKD 2,714,772,000, a slight decrease from HKD 2,771,677,000 as of June 30, 2018[11] - Cash and cash equivalents at the end of the period were HKD 972,838,000, down from HKD 1,128,664,000 at the beginning of the period[15] - The company's equity attributable to owners decreased to HKD 2,201,477,000 from HKD 2,250,685,000, showing a decline in shareholder value[13] - The company's total liabilities include guarantees for bank loans amounting to HKD 611,831,000 as of December 31, 2018[121] - The company's bank loans due within one year amounted to HKD 93,216,000 as of December 31, 2018, compared to HKD 139,000,000 as of June 30, 2018[77] - The company's debt-to-equity ratio as of December 31, 2018, was 0.01, compared to 0.00 as of June 30, 2018[119] Cash Flow and Operating Activities - The company reported a net cash outflow from operating activities of HKD (15,664,000) for the six months ended December 31, 2018, compared to HKD (22,270,000) in the previous year[15] - The management emphasized the importance of maintaining a strong cash flow, with a reported cash balance of 1,053.1 million as of the latest quarter[18] - As of December 31, 2018, the company's cash and cash equivalents amounted to HKD 972,838,000, a decrease from HKD 1,128,664,000 as of June 30, 2018[119] Revenue Growth and Market Strategy - The company reported a revenue of 2,344.4 million for the year ending December 31, 2018, representing a 2.0% increase compared to the previous year[18] - User data indicated a total of 1,302,090 active users, which is a significant growth from the previous year's 1,216,529[18] - The company provided a future outlook with a revenue guidance of 2,498 million for the upcoming fiscal year, reflecting a positive growth trajectory[18] - The company is exploring market expansion opportunities in Asia, aiming to increase its market share by 15% over the next two years[18] - The jewelry segment achieved a revenue increase of approximately 13.6%, rising from HKD 205,373,000 to HKD 233,266,000, driven by strategic investments and market penetration in the UK[111] Investments and Acquisitions - A strategic acquisition was announced, targeting a company with a valuation of 380.6 million to enhance product offerings and market presence[18] - The group completed the acquisition of 12 floors of a commercial building in Yuen Long for a total consideration of HKD 129,000,000, which is expected to provide stable rental income[114] - The group plans to redevelop a site in Wanchai into a 26-story office and retail complex, with construction expected to be completed by 2021[112] - The group plans to diversify its property investment portfolio using proceeds from the sale of its joint venture in Shanghai[114] Financial Reporting Standards - The company has adopted new accounting standards, including HKFRS 9 and HKFRS 15, which are expected to impact financial reporting positively[20] - The adoption of HKFRS 9 resulted in a change in the impairment model to an "expected loss model," replacing the previous "incurred loss model" under HKAS 39[35] - The expected credit loss model requires the group to recognize expected credit losses for trade receivables and financial assets measured at amortized cost earlier than under HKAS 39[35] - The adoption of HKFRS 15 did not have a significant impact on the group's revenue recognition[39] Corporate Governance and Management - The company has complied with all applicable corporate governance codes during the six months ending December 31, 2018, with some deviations noted[176] - The company has not established an internal audit function as of December 31, 2018, but believes that the current organizational structure and management oversight provide sufficient internal control and risk management[180] - The independent non-executive directors are required to attend the annual general meeting to understand shareholders' opinions, although one director was absent due to other commitments[179] Employee and Shareholder Information - As of December 31, 2018, the company employed approximately 692 employees, an increase from 660 employees as of June 30, 2018[132] - The company has granted a total of 120,000,000 stock options to several directors, with exercise prices ranging from HKD 0.121 to HKD 0.245 per share[132] - The total number of unexercised stock options as of December 31, 2018, is 110,000,000[166] - The company’s total issued share capital is 5,063,395,220 shares, with Dr. Chen Shengze and Ms. Zheng Xiaoyan holding a combined 74.12%[171]