Financial Performance - The total rental income for the six months ended June 30, 2023, was HKD 346,267,000, representing an increase of 13.3% from HKD 305,522,000 in the previous year[14]. - The company reported a mid-term profit of HKD 34,245,000, slightly down from HKD 34,374,000 for the same period last year, maintaining a stable dividend of 3.5 HK cents per share[8]. - The company reported a profit attributable to shareholders of HKD 78,608,000 for the six months ended June 30, 2023, a decrease of approximately 5% compared to HKD 82,919,000 for the same period last year[27]. - The total revenue for the first half of 2023 was HKD 661,236,000, representing a 7% increase from HKD 615,489,000 in the previous year[55]. - The group's operating profit for the period was HKD 77,869,000, a decrease of approximately 6% compared to HKD 82,556,000 in the same period last year, with an operating profit margin of 11.8% down from 13.4%[59]. - The group recorded a fair value loss on investment properties of HKD 22,856,000, an increase of approximately 32.5% from HKD 17,244,000 in the same period last year[57]. - The group recorded a total revenue of HKD 661,236,000 for the six months ended June 30, 2023, with a gross profit of HKD 389,127,000[108]. - The profit for the period was HKD 78,608,000, compared to HKD 82,919,000 for the same period in 2022, reflecting a decrease of approximately 5.3%[131]. Assets and Liabilities - The total amount of prepayments, deposits, and other receivables reached HKD 113,465,000, a significant increase of 40.9% compared to HKD 80,503,000 as of December 31, 2022[1]. - The total liabilities as of June 30, 2023, were HKD 910,360,000, compared to HKD 1,043,404,000 as of December 31, 2022[127]. - The total assets as of June 30, 2023, amounted to HKD 5,315,368,000, a decrease from HKD 5,490,787,000 as of December 31, 2022[127]. - The accounts receivable net amount as of June 30, 2023, was HKD 60,394,000, a decrease from HKD 125,091,000 at the end of 2022[195]. - The total assets held for sale in development properties amounted to HKD 714,362,000 as of June 30, 2023, down from HKD 767,938,000 at the end of 2022[193]. Revenue Streams - The group recorded a rental and property management fee income of HKD 77,324,000 and HKD 20,737,000 respectively, a total decrease of approximately 1% compared to the same period last year[71]. - The rental income from investment properties was HKD 77,324, slightly down from HKD 78,995 in the previous year, indicating a decrease of 2.1%[146]. - The total sales from the apparel and accessories segment amounted to HKD 500,403, representing a growth of 23.5% compared to HKD 407,000 in the previous period[168]. - Self-operated retail sales in mainland China increased by approximately 29% year-on-year, benefiting from a low base due to previous pandemic impacts[52]. - The group's e-commerce sales increased by approximately 18% in RMB terms compared to the previous year, accounting for about 28% of domestic apparel sales[64]. Expenses and Costs - The company’s operating expenses for distribution and marketing increased by 10% to HKD 207,278,000, primarily due to the resumption of promotional activities that were previously delayed[48]. - The group's administrative expenses amounted to HKD 81,124,000, an increase of 4% compared to HKD 77,906,000 in the same period last year[58]. - The group incurred direct operating expenses of HKD 18,209,000 related to investment properties during the period[182]. - The company incurred a provision for inventory impairment of HKD 4,441,000, lower than HKD 11,205,000 in the previous year[47]. - The group’s employee costs, including directors' remuneration, totaled HKD 111,546,000 for the period[182]. Shareholder Information - The company’s major shareholders include the Zhang family, holding 62.65% of the issued share capital, indicating a strong control over the company[9]. - The company declared an interim dividend of HKD 0.035 per share, totaling HKD 34,245,000, which is similar to the previous year's dividend of HKD 34,374,000[40]. - The company has no plans to repurchase any shares during the reporting period[42]. Future Outlook and Plans - The group expects business conditions to remain challenging due to various uncertainties in both domestic and external markets[92]. - The group plans to establish a new energy company in China, focusing on photovoltaic business, with a registered capital of RMB 30,000,000, expected to commence operations in the second half of the year[73]. - The group aims to strengthen its sales network in the Singapore apparel business to ensure continuous operational improvement[93]. - The group plans to enhance the rental situation of "Jinli Lai Digital Network Building" and other properties to reduce vacancies and improve rental potential[94]. Compliance and Governance - The company has maintained compliance with the corporate governance standards as per the listing rules, ensuring all directors adhered to the relevant regulations during securities transactions[11]. - The company’s tax rate for profits derived from China remains at 25%, consistent with the previous year, while a reduced tax rate of 5% applies to qualifying subsidiaries[6]. Financial Risks and Management - The group continues to face various financial risks, including market risk, credit risk, and liquidity risk, with no changes in risk management policies since the end of the last fiscal year[143][144]. - The group’s management has made significant judgments in applying accounting policies, which are consistent with those used in the preparation of the consolidated financial statements for the year ended December 31, 2022[145].

Financial Performance - The group reported a total revenue of HKD 661,236,000 for the six months ended June 30, 2023, representing an increase of 7.4% compared to HKD 615,489,000 for the same period in 2022[14]. - The group's net profit attributable to shareholders for the period was HKD 6,547,000, a significant recovery from a loss of HKD 45,157,000 in the previous year[6]. - The gross profit for the six months ended June 30, 2023, was HKD 389,127,000, compared to HKD 366,939,000 in the previous year, indicating a year-on-year increase of about 6.0%[19]. - The operating profit decreased to HKD 77,869,000 for the six months ended June 30, 2023, down from HKD 82,556,000 in the same period of 2022, reflecting a decline of approximately 5.5%[19]. - The profit attributable to the company's owners for the period was HKD 78,608,000, compared to HKD 82,919,000 in the prior year, a decrease of about 5.0%[20]. - Basic and diluted earnings per share for the six months ended June 30, 2023, were HKD 8.03, down from HKD 8.44 in the same period of 2022, representing a decline of approximately 4.9%[19]. Assets and Liabilities - The total assets of the group as of June 30, 2023, were HKD 5,315,368,000, a decrease from HKD 5,490,787,000 as of December 31, 2022[7]. - The group’s total liabilities decreased to HKD 910,360,000 as of June 30, 2023, from HKD 1,043,404,000 at the end of the previous year[7]. - The group’s cash and cash equivalents amounted to HKD 305,346,000 as of June 30, 2023, slightly down from HKD 309,805,000 at the end of 2022[7]. - As of June 30, 2023, the group had no bank loans or overdrafts, resulting in a debt-to-equity ratio of zero[75]. - As of June 30, 2023, the group's cash and bank balances were approximately HKD 1,168,440,000, a decrease of HKD 8,436,000 from the end of the previous year[97]. Inventory and Expenses - The group reported a decrease in inventory to HKD 167,254,000 from HKD 204,578,000 year-on-year, indicating improved inventory management[7]. - The group’s operating expenses increased to HKD 560,511,000 for the six months ended June 30, 2023, compared to HKD 515,689,000 in the same period last year[16]. - The group's administrative expenses amounted to HKD 81,124,000, up 4% from HKD 77,906,000 in the same period last year[59]. - The company reported a total sales cost of HKD 272,109,000, which includes clothing sales costs of HKD 218,044,000 and inventory impairment provisions of HKD 4,441,000[36]. Revenue Segmentation - The operating segment in mainland China and Hong Kong generated revenue of HKD 502,618,000, slightly up from HKD 500,403,000 in the previous year, with a segment profit of HKD 63,258,000[29]. - The property investment and development segment reported revenue of HKD 146,408,000, an increase from HKD 102,774,000 in the same period last year, with a segment profit of HKD 44,904,000[29]. - The apparel business revenue increased by 3%, while property investment and licensing revenue decreased by 1% and 19% respectively[55]. - The group's e-commerce sales in RMB increased by approximately 18% compared to the previous year, with sales of special products accounting for 94% of total sales[43]. - The self-operated retail sales revenue increased by approximately 29% year-on-year, accounting for about 18% of the group's domestic clothing sales[86]. Fair Value and Impairment - The group experienced a fair value loss on investment properties of HKD 22,856,000 for the six months ended June 30, 2023, compared to HKD 17,244,000 in the same period last year[16]. - The group recorded a fair value loss on investment properties of HKD 22,856,000, an increase from HKD 17,244,000 in the previous year[58]. - The group’s inventory impairment provision for the period was HKD 1,218,000, compared to a reversal of HKD 3,484,000 in the previous year[67]. Future Plans and Developments - The group plans to continue focusing on property investment and development, alongside its core business in apparel and accessories distribution[14]. - The group plans to focus on the construction progress of the second phase of the "Jinli Lai Garden" property development project and aims to sell the remaining units[96]. - The group has established a new energy company in China with a registered capital of RMB 30,000,000, expected to commence operations in the second half of the year[72]. Compliance and Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[108]. - The audit committee has reviewed the unaudited interim financial information for the six months ending June 30, 2023, ensuring adherence to the relevant accounting standards[109].

Environmental Goals - The company aims to reduce energy consumption per square meter by 16.7% by 2030 compared to the 2020 baseline, equating to an annual reduction of 1.67%[16]. - The company targets a 28% reduction in greenhouse gas emissions per square meter by 2030 compared to the 2020 baseline, which translates to an annual reduction of 2.8%[17]. - The company plans to decrease water consumption per HKD 100,000 of revenue by 43% by 2030 compared to the 2020 baseline, representing an annual reduction of 4.3%[19]. - The company is exploring opportunities to transform its business into a low-carbon operation to meet public expectations and avoid reputational damage[14]. - The company aims to achieve water conservation goals through measures such as installing faucet aerators and rainwater collection, estimating annual savings of approximately 10,000 cubic meters from air conditioning and 20,000 cubic meters from toilet renovations[49]. Environmental Performance - Total greenhouse gas emissions decreased from 8,003 metric tons CO2 equivalent in 2021 to 7,114 metric tons CO2 equivalent in 2022, representing a reduction of approximately 11.1%[24]. - The total energy consumption decreased from 14,284,826 kWh in 2021 to 13,302,791 kWh in 2022, a decline of about 6.9%[25]. - The total water consumption increased from 146,703 cubic meters in 2021 to 156,157 cubic meters in 2022, an increase of approximately 6.2%[25]. - The total hazardous waste generated decreased from 0.089 tons in 2021 to 0.051 tons in 2022, a reduction of about 42.7%[25]. - The total packaging materials used increased from 108.7 tons in 2021 to 140.6 tons in 2022, an increase of approximately 29.3%[25]. - The carbon emissions per employee decreased from 4.76 metric tons CO2 equivalent in 2021 to 4.19 metric tons CO2 equivalent in 2022, a reduction of about 11.9%[24]. - The carbon emissions per square meter of floor area remained stable at 0.07 metric tons CO2 equivalent in both 2021 and 2022[24]. - The paper recycling rate for office and apparel distribution and manufacturing business decreased from 28.3% in 2021 to 26.5% in 2022[25]. - The total non-hazardous waste generated increased from 39.3 tons in 2021 to 45.8 tons in 2022, an increase of approximately 16.5%[25]. - The total energy consumption per employee decreased from 8,493 kWh in 2021 to 7,830 kWh in 2022, a decline of about 7.8%[25]. Occupational Health and Safety - The company has implemented ISO 45001:2018 certification for occupational health and safety management systems at its production site in Meizhou, demonstrating the effectiveness and efficiency of its safety management[5]. - The company has adopted various occupational health and safety programs to minimize accidents and ensure workplace safety[5]. - The company has established strict recruitment screening processes to ensure compliance with labor laws, preventing the hiring of candidates below the legal working age of 18[2]. Corporate Governance - The company regularly communicates with shareholders through various channels, including interim and annual reports, press releases, and shareholder meetings[65]. - The company reported a 100% attendance rate for all executive directors during the board meetings[67]. - The board believes that having the same person serve as both chairman and CEO enhances strategic planning and decision-making efficiency[70]. - The audit committee is responsible for reviewing the group's interim and annual performance, ensuring compliance with accounting standards[103]. - The company has adopted a diversity policy for board members, considering factors such as race, gender, age, and professional experience[74]. - The risk management framework includes a three-tier structure involving the board, senior management, and subsidiary management[87]. - The company has not encountered any significant adverse changes in risks related to its business during the year[88]. - The remuneration committee regularly reviews the compensation of executive directors to ensure alignment with performance[99]. - The company has established a nomination committee to evaluate board composition and diversity considerations[94]. - The audit committee consists of three independent non-executive directors and one non-executive director, chaired by a member with extensive accounting experience[102]. - The company has implemented appropriate procedures for handling and disclosing insider information[88]. - The company continues to maintain high standards of corporate governance, as detailed in the corporate governance report[169]. Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 1,415,709,000, representing a 3.2% increase from HKD 1,372,184,000 in 2021[139]. - Gross profit decreased by 11.3% to HKD 769,790,000 from HKD 868,327,000 in the previous year[139]. - Operating profit fell by 36.6% to HKD 152,708,000 compared to HKD 240,848,000 in 2021[139]. - Net profit for the year was HKD 154,462,000, down 30.1% from HKD 221,043,000 in the prior year[139]. - Basic and diluted earnings per share decreased to HKD 15.73, a decline of 30.1% from HKD 22.51[139]. - The company declared a total dividend of HKD 8.5 per share, down 22.7% from HKD 11.0 in the previous year[139]. - Cash generated from operations dropped significantly by 75.4% to HKD 62,960,000 from HKD 256,076,000[139]. - Total assets decreased by 5.2% to HKD 5,490,787,000 from HKD 5,790,323,000[139]. - Total liabilities reduced by 10.5% to HKD 1,043,404,000 compared to HKD 1,165,583,000 in 2021[139]. - The current ratio improved to 4.1 from 3.8 in the previous year, indicating better short-term financial health[139]. - The group's annual cost of goods sold for apparel was HKD 475,055,000, a decrease of 7% compared to last year's HKD 511,921,000, aligning closely with the decline in apparel sales[141]. - The gross profit margin, excluding inventory impairment effects, was 50.8%, slightly down from 51.6% last year, primarily due to a slight reduction in gross margin for domestic products[141]. - Inventory impairment provision recorded during the year was HKD 33,813,000, compared to a reversal of HKD 50,591,000 last year, resulting in a difference of HKD 84,404,000[141]. - The company provided guarantees for mortgage loans amounting to HKD 77,318,000 for certain property buyers, with no provisions made in the financial statements as the realizable net value of the properties is deemed sufficient to cover the mortgage defaults[140]. - The total amount for statutory audit and interim review fees was HKD 3,080,000, with additional tax and consultancy services costing HKD 850,000, bringing the total to HKD 3,930,000[145]. - The company repurchased a total of 3,678,000 shares during the year, with a total cost of HKD 4,383,890[158]. - The shareholding structure indicates that the family trust holds 62.65% of the total issued shares, with significant stakes also held by other entities[163]. - The financial statements for the year ended December 31, 2022, were audited by PwC, who expressed willingness to be reappointed[170]. - The group has established a whistleblowing procedure for employees to report any misconduct or fraud confidentially[143]. - The company repurchased a total of 3,678,000 ordinary shares at a total cost of HKD 4,383,890 during the year, with all repurchased shares subsequently canceled[188]. - As of December 31, 2022, the total number of issued shares was 978,436,035, down from 982,114,035 in the previous year, indicating a decrease of approximately 0.7%[188]. - The largest supplier accounted for 12% of total purchases, while the top five suppliers represented 41% of total purchases, highlighting significant supplier concentration[197]. - The largest customer contributed 4% to total revenue, and the top five customers accounted for 12%, indicating a moderate customer concentration risk[197].

Financial Performance - The group's total revenue for the year was HKD 933,461,000, representing a decrease of approximately 9% compared to the previous year[18]. - The operating profit for the year was HKD 152,708,000, a decline from HKD 240,848,000 in the previous year[11]. - The net profit attributable to the company's owners for the year was HKD 154,462,000, compared to HKD 221,043,000 in the previous year[22]. - The group's gross profit was HKD 769,790,000, down from HKD 868,327,000 in the previous year[11]. - The group reported a basic and diluted earnings per share of HKD 15.73 for the year, compared to HKD 22.51 in the previous year[21]. - The group’s net profit attributable to shareholders for the year was HKD 154,462,000, a decrease of approximately 30% from HKD 221,043,000 in the previous year[114]. - The group's basic earnings per share were HKD 0.157, down from HKD 0.225 in the previous year[75]. Expenses and Costs - Administrative expenses for the year amounted to HKD 153,775,000, down 10% from HKD 170,680,000 in the previous year, primarily due to impairment losses related to mask manufacturing[8]. - Distribution and marketing costs totaled HKD 406,197,000, down 6% from HKD 430,022,000 in the previous year, primarily due to reduced sales expenses from domestic retail and e-commerce sales[53]. - The company reported a cost of goods sold of HKD 645,919,000, up from HKD 503,857,000 in the previous year[43]. - The group incurred operating expenses of HKD 27,853,000 and impairment provisions of HKD 10,703,000 related to the newly opened cultural lifestyle stores in Shanghai and Guangzhou[117]. - Overall expenses for the year increased to HKD 18,356,000, up from HKD 15,188,000 last year due to the absence of local government wage subsidies and rising sales-related costs[122]. Assets and Liabilities - The group's non-current assets totaled HKD 3,070,818,000, down from HKD 3,236,149,000 in the previous year[12]. - The total assets amounted to HKD 5,490,787,000, while total liabilities were HKD 1,043,404,000[60]. - The group’s total equity was HKD 4,447,383,000, reflecting a slight increase from HKD 4,624,740,000 in the previous year[60]. - The group’s current assets and liabilities were HKD 2,419,969,000 and HKD 586,828,000 respectively, resulting in a current ratio of 4.1[100]. - As of December 31, 2022, the group had no bank loans or overdrafts, with a debt-to-equity ratio of zero[131]. Investment Properties - The group recorded a loss on the fair value of investment properties of HKD 18,786,000, compared to HKD 13,897,000 in the previous year[55]. - The total value of the investment property portfolio at year-end was approximately HKD 2,775,582,000, a decrease of about 7% from HKD 2,994,394,000 at the end of last year, with a fair value loss of HKD 57,110,000 recorded[123]. - Rental and property management fee income for the year was HKD 154,866,000 and HKD 40,787,000 respectively, representing an overall increase of about 5% compared to last year[123]. - The rental and property management fee income from the Guangzhou "Goldlion Digital Network Building" increased by approximately 4% year-on-year, with an overall occupancy rate of about 81%, up from 78% last year[124]. - The direct operating expenses of investment properties generating rental income were HKD 38,483,000, slightly down from HKD 40,797,000 in the previous year[43]. Market Performance - Self-operated retail sales in China decreased by 23% year-on-year in RMB terms, with a decline of 27% when excluding stores acquired since April of the previous year[86]. - The clothing business and franchise income decreased by 9% and 10% respectively compared to the previous year[79]. - The group's e-commerce performance fell short of expectations, with sales in RMB down approximately 10% year-on-year, primarily due to weakened clothing demand and delivery disruptions caused by lockdown measures[87]. - The group anticipates continued challenges in the clothing business for 2023, with a cautious outlook for recovery in the market[97]. Dividends and Share Repurchase - The company proposed a final dividend of HKD 0.05 per share, amounting to approximately HKD 48,922,000, down from HKD 68,748,000 in the previous year[49]. - The board believes that the share repurchase will enhance earnings per share and return on assets, benefiting the company's capital structure and shareholder equity[143]. - During the year, the company repurchased a total of 3,678,000 ordinary shares at an average price of HKD 1.192 per share, totaling approximately HKD 4,419,000[143]. - As of December 31, 2022, the total number of issued shares was 978,436,035, down from 982,114,035 in the previous year[146]. Future Plans - The group plans to enhance domestic apparel business operations and improve the performance of new businesses "Goldlion 3388" and "g+"[127]. - The group aims to improve the rental situation of the "Goldlion Digital Network Building" in Guangzhou and reduce vacancies[129].

Financial Performance - The total revenue for the first half of 2022 was HKD 615,489,000, an increase of 4% compared to HKD 589,659,000 in the same period last year, primarily driven by property investment and domestic apparel wholesale business [3]. - The cost of sales increased by 21% to HKD 248,550,000, mainly due to changes in inventory impairment provisions, while the gross profit margin decreased to 53.4% from 54.9% year-on-year [4]. - Operating profit for the period was HKD 82,556,000, a slight increase of approximately 2% from HKD 81,145,000 in the previous year, with an operating profit margin of about 13.4% [8]. - Net profit attributable to shareholders was HKD 82,919,000, up about 5% from HKD 78,988,000 in the same period last year, while excluding the fair value loss on investment properties, the profit was HKD 91,165,000, down about 4% year-on-year [9]. - Domestic apparel sales recorded a revenue of HKD 451,951,000, an increase of approximately 4% year-on-year, despite challenges from COVID-19 restrictions [10]. - The e-commerce performance was below expectations, with sales accounting for about 26% of domestic apparel sales, impacted by weakened demand and delivery obstacles due to lockdown measures [18]. - The group recorded a fair value loss on investment properties of HKD 17,244,000, lower than HKD 25,347,000 in the same period last year [5]. - The administrative expenses increased by 3% to HKD 77,906,000 compared to HKD 75,702,000 in the previous year [6]. - The group's rental and property management fee income for the period was HKD 78,995,000 and HKD 20,548,000, respectively, representing an increase of approximately 8% compared to the same period last year [24]. - The total revenue from property management fees was HKD 20,548,000, up from HKD 19,722,000, indicating a growth of 4.2% year-on-year [76]. - The investment property rental income increased to HKD 78,995,000 from HKD 72,155,000, representing an increase of 9.5% [76]. Cash Flow and Financial Position - The group recorded a net cash inflow from operating activities of HKD 38,813,000 and interest income of HKD 10,233,000, but paid dividends of HKD 68,748,000 during the period [29]. - As of June 30, 2022, the group's cash and bank balances amounted to approximately HKD 1,271,289,000, a decrease of HKD 79,925,000 compared to the end of last year [29]. - The group's current assets and liabilities were HKD 2,462,741,000 and HKD 627,161,000, respectively, resulting in a current ratio of 3.9 [31]. - The company reported a net cash generated from operating activities for the six months ended June 30, 2022, was HKD 38,813, compared to HKD 172,226 for the same period in 2021, representing a decrease of approximately 77.5% [58]. - The net cash used in investing activities was HKD 67,447 for the six months ended June 30, 2022, compared to HKD 157,560 for the same period in 2021, indicating a reduction of about 57.3% [58]. - The net cash used in financing activities was HKD 75,521 for the six months ended June 30, 2022, compared to HKD 70,656 for the same period in 2021, showing an increase of approximately 6.3% [58]. - The total cash and cash equivalents increased by HKD 30,739 for the six months ended June 30, 2022, compared to a decrease of HKD 55,990 for the same period in 2021 [58]. - The company reported a significant increase in restricted cash, which rose to HKD 676 from HKD 97,894 in the previous period [58]. - As of June 30, 2022, accounts receivable amounted to HKD 59,246,000, a decrease from HKD 101,985,000 as of December 31, 2021, representing a reduction of approximately 42% [95]. - The total amount of prepayments, deposits, and other receivables decreased to HKD 93,597,000 as of June 30, 2022, down from HKD 126,445,000 as of December 31, 2021, indicating a decline of about 26% [96]. - The company's total liabilities for accounts payable were HKD 26,829,000 as of June 30, 2022, compared to HKD 48,594,000 as of December 31, 2021, reflecting a decrease of approximately 45% [99]. - The total income tax expense for the six months ended June 30, 2022, was HKD 9,527,000, a decrease from HKD 11,786,000 for the same period in 2021, representing a reduction of about 19% [109]. Property Development and Investment - The total expenditure for the "Jinli Lai Garden" property development project in Meixian reached HKD 814,082,000, an increase of HKD 98,275,000 compared to the end of last year [25]. - The rental and property management fee income for the "Jinli Lai Digital Network Building" in RMB increased by approximately 3% year-on-year, with an overall occupancy rate maintained at about 79% [24]. - The first phase of the "Jinli Lai Garden" property development project is expected to be completed in the fourth quarter of this year, with the second phase's construction progress being a focus [28]. - The total value of properties held for sale was HKD 814,082,000 as of June 30, 2022, up from HKD 715,807,000 as of December 31, 2021, reflecting a growth of 13.8% [91]. - The development costs for properties held for sale rose to HKD 704,821,000 as of June 30, 2022, compared to HKD 600,873,000 as of December 31, 2021, marking an increase of 17.2% [90]. Shareholder Information and Corporate Governance - Major shareholders include Top Grade Holdings Limited with 613,034,750 shares, representing 62.42% of the issued share capital [178]. - Silver Disc Limited holds 160,616,000 shares, accounting for 16.35% of the issued share capital [178]. - The charity trust managed by Zeng Huizi holds 53,880,750 shares, which is 5.49% of the issued share capital [180]. - FMR LLC owns 63,061,331 shares, representing 6.42% of the issued share capital [178]. - The company has complied with the corporate governance code as per the Stock Exchange listing rules for the six months ending June 30, 2022 [182]. - The audit committee consists of four members, including independent non-executive directors, ensuring oversight of financial reporting and risk management [183]. - The external auditor has reviewed the unaudited interim financial information for the six months ending June 30, 2022 [184]. Challenges and Outlook - The group plans to continue improving the operational situation of its Singapore clothing business, ensuring profitability since last year is maintained [28]. - The group anticipates challenges in business operations due to economic recession concerns and ongoing pandemic impacts, with a cautious outlook for the remainder of the year [27].

Financial Performance - The company reported a revenue of HKD 1,372,184,000 for the year, representing a 10.7% increase from HKD 1,239,276,000 in the previous year[6] - Gross profit increased by 19.5% to HKD 868,327,000, up from HKD 726,500,000[6] - Operating profit rose by 45.6% to HKD 240,848,000 compared to HKD 165,408,000 in the prior year[6] - Net profit for the year was HKD 221,043,000, a 49.1% increase from HKD 148,286,000[6] - Basic and diluted earnings per share increased to HKD 22.51, up 49.1% from HKD 15.10[6] - The company declared a total dividend of HKD 11.0 per share, a 15.8% increase from HKD 9.5 in the previous year[6] - Cash and bank balances stood at HKD 1,351,214,000, an increase of 9.2% from HKD 1,237,817,000[6] Profitability and Margins - The overall gross profit increased by approximately 20% to HKD 868,327,000 from HKD 726,500,000, with a gross margin of 51.7%, down from 52.8% last year[22] - Operating profit for the year was HKD 240,848,000, up about 46% from last year's HKD 165,408,000, resulting in an operating margin of approximately 18%, compared to 13% last year[27] - Net profit attributable to the company's owners was HKD 221,043,000, a rise of about 49% from HKD 148,286,000 last year[25] Revenue Sources - Domestic apparel sales revenue was HKD 1,031,030,000, an increase of about 11% year-on-year, with a 4% increase when calculated in RMB[29] - The revenue from operating rights for various products increased by approximately 22% to HKD 124,898,000, compared to the previous year[30] - The apparel business recorded sales of HKD 29,316,000, a decrease of approximately 16% compared to last year's HKD 34,831,000[33] Expenses and Costs - The total sales cost for the year was HKD 503,857,000, a decrease of 2% compared to the previous year[21] - Total expenses for the year decreased by about 45% to HKD 15,188,000 from HKD 27,395,000 last year[34] Investment Properties - The total value of the investment property portfolio at year-end was approximately HKD 2,994,394,000, an increase from HKD 2,950,107,000 last year[36] - The net rental income from investment properties was HKD 664,000, up from HKD 336,000 last year, contributing to a profit of HKD 8,802,000 compared to a loss of HKD 14,547,000 last year[34] - Rental and property management fee income amounted to HKD 147,009,000 and HKD 39,931,000, respectively, representing an overall increase of about 8%[37] Corporate Governance - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse range of expertise and experience[183] - All independent non-executive directors have confirmed their independence in accordance with the listing rules, and the board believes they provide sufficient checks and balances to protect shareholders' interests[186] - The board held a total of four meetings during the year, discussing overall group strategy, monitoring financial and business performance, and approving financial reports and significant contracts[188] - Attendance rate for the board meetings was 100% for all directors, indicating strong engagement and commitment[189] Environmental, Social, and Governance (ESG) - The company is committed to adhering to environmental, social, and governance reporting guidelines, ensuring transparency and accountability in its operations[67] - A total of 19 significant environmental, social, and governance (ESG) issues were identified as important for the company's operations[86] - The company received over 80 valid responses from stakeholders during the ESG consultation process, which helped shape its strategies[86] Employee Welfare and Training - As of December 31, 2021, the company employed a total of 1,682 employees, with an additional 386 contractors[112] - The employee turnover rate for the company was 20% in 2021, down from 22% in 2020[113] - The company provided medical insurance for full-time employees, covering doctor visits, outpatient services, and hospitalizations[116] Sustainability Initiatives - The company aims to reduce energy consumption by 16.7% per HKD 100,000 revenue by 2030, compared to the 2020 baseline[135] - The greenhouse gas emissions target is to reduce emissions by 28% per HKD 100,000 revenue by 2030, compared to the 2020 baseline[135] - The company has implemented energy-saving measures, including replacing traditional lights with LED and optimizing consumption through data monitoring[135]

Financial Performance - The total revenue for the first half of the year was HKD 589,659,000, an increase of 9% compared to HKD 539,403,000 in the same period last year[3]. - The overall gross profit rose to HKD 384,023,000, up 32% from HKD 290,648,000 year-on-year, with a gross margin of approximately 54.9%, down 0.9 percentage points from 55.8%[4]. - Operating profit for the period was HKD 81,145,000, representing a 42% increase from HKD 57,326,000 in the previous year, with an operating margin of 14% compared to 11% last year[8]. - Net profit attributable to the company's owners was HKD 78,988,000, a 42% increase from HKD 55,792,000 year-on-year, while excluding the fair value loss of investment properties, profit would be HKD 95,009,000, up 36% from HKD 70,111,000[9]. - For the six months ended June 30, 2021, the company reported revenue of HKD 589,659,000, an increase of 9.5% compared to HKD 539,403,000 for the same period in 2020[34]. - Gross profit for the same period was HKD 384,023,000, representing a significant increase of 32.1% from HKD 290,648,000 in the previous year[34]. - The operating profit for the six months ended June 30, 2021, was HKD 81,145,000, compared to HKD 0 for the same period in 2020[34]. - The net profit attributable to the company's owners for the period was HKD 78,988,000, up from HKD 55,792,000 in the prior year, reflecting a growth of 41.5%[36]. Sales and Revenue Breakdown - Domestic apparel sales amounted to HKD 436,116,000, a 6% increase year-on-year, but a 3% decrease when calculated in RMB due to currency fluctuations[10]. - The revenue from operating rights for various products increased by approximately 73% to HKD 45,558,000, due to last year's fee reductions related to the pandemic[14]. - In Singapore, sales for the eyewear business reached HKD 16,000, an increase of about 2% from HKD 15,864,000 in the same period last year[15]. - The sales of goods accounted for HKD 452.224 million, up from HKD 427.363 million, reflecting a growth of 5.8% year-on-year[65]. Expenses and Costs - The overall expenses for distribution and marketing rose to HKD 201,829,000, a 38% increase from HKD 145,861,000 year-on-year, reflecting the recovery of business activities[6]. - The company incurred employee costs of HKD 111,454,000, which is a significant component of operational expenses[109]. - The company’s total direct operating expenses related to investment properties were HKD 43,077,000 for the period[109]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 5,444,133,000, an increase from HKD 5,290,467,000 at the end of 2020[31]. - The group recorded a net cash inflow from operating activities of HKD 172,226,000 during the period[24]. - As of June 30, 2021, the group's cash and bank balances, including restricted cash, amounted to approximately HKD 1,349,982,000, an increase of HKD 112,165,000 from the end of last year[24]. - The group has no bank loans or overdrafts, resulting in a debt-to-equity ratio of zero as of June 30, 2021[24]. - The total amount of properties held for sale as of June 30, 2021, was HKD 514,843,000, an increase from HKD 424,548,000 as of December 31, 2020, representing a growth of about 21.3%[89]. - The group's business receivables as of June 30, 2021, amounted to HKD 42,201,000, down from HKD 99,257,000 as of December 31, 2020, indicating a decrease of approximately 57.5%[92]. - The total amount of prepayments, deposits, and other receivables as of June 30, 2021, was HKD 125,139,000, slightly up from HKD 121,930,000 as of December 31, 2020, reflecting an increase of about 2.7%[93]. Property and Investment - The value of the group's investment properties at the end of the period was approximately HKD 2,957,584,000, an increase from HKD 2,950,107,000 at the end of last year, primarily due to a 9% rise in the RMB exchange rate[18]. - Rental and property management fee income for the period was HKD 72,155,000 and HKD 19,722,000 respectively, representing an overall increase of approximately 7% compared to the same period last year[18]. - The overall occupancy rate for the group's properties was approximately 79%, down from 83% in the same period last year[18]. - The construction expenditure for the "Jinli Lai Garden" project in Meixian reached HKD 514,843,000, an increase of HKD 90,295,000 compared to the end of last year[21]. - The average rental and property management fee income for the "Jinli Lai Group Center" in Shatin decreased by approximately 11% due to the pandemic[21]. Shareholder Information - As of June 30, 2021, the company had a total of 614,438,750 shares outstanding, with major shareholders holding 62.42% of the shares[142]. - The company reported that the top shareholder, Top Grade Holdings Limited, holds 613,034,750 shares, representing 62.42% of the issued share capital[142]. - The second-largest shareholder, Silver Disc Limited, holds 160,616,000 shares, accounting for 16.35% of the issued share capital[142]. - The major shareholders include FMR LLC, which holds 63,108,250 shares, representing 6.43% of the issued share capital[142]. - The company has a total of 53,880,750 shares held by the Zeng Hsien-Tzu Charity (Management) Limited, accounting for 5.49% of the issued share capital[143]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules during the six months ending June 30, 2021[145]. - The audit committee has reviewed the unaudited interim financial information for the six months ending June 30, 2021[147]. - The company has established an audit committee to oversee financial reporting, risk management, and internal control systems[146]. - The company’s governance structure is deemed effective for monitoring management, with the chairman and CEO being the same individual to enhance decision-making efficiency[145]. Future Plans - The group plans to continue construction and pre-sale activities for the "Jinli Lai Garden" project, with the first phase expected to be completed around mid-next year[22]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[36]. - The company has established a mask factory in Meizhou with an investment of RMB 9,170,000, and will commence production and sales based on actual conditions[22].

Financial Performance - The company's revenue for the year was HKD 1,239,276,000, a decrease of 22.2% compared to HKD 1,591,930,000 in the previous year[8] - Gross profit was HKD 726,500,000, down 20.5% from HKD 913,353,000, resulting in a gross margin of 58.6%, an increase of 1.2 percentage points[8] - Operating profit decreased by 52.8% to HKD 165,408,000 from HKD 350,267,000, leading to an operating margin of 13.3%, down 8.7 percentage points[8] - Net profit for the year was HKD 148,286,000, a decline of 51.5% from HKD 306,028,000, with a net profit margin of 12.0%, down 7.2 percentage points[8] - The total revenue for the year was HKD 1,239,276,000, a decrease of approximately 22% compared to last year's HKD 1,591,930,000, with the apparel sales business being the most affected, down about 25%[19] - The overall gross profit for the year was HKD 726,500,000, down about 20% from last year's HKD 913,353,000, resulting in a gross margin of approximately 58.6%, slightly higher than last year's 57.4%[21] - Operating profit for the year was HKD 165,408,000, a decline of about 53% from last year's HKD 350,267,000, with an operating margin of approximately 13%, down from 22% last year[25] - Net profit attributable to the company's owners was HKD 148,286,000, a decrease of about 52% from last year's HKD 306,028,000, with a normalized profit of HKD 195,463,000, down about 24% from last year's HKD 257,415,000[26] Cash and Assets - The company reported cash and bank balances of HKD 1,237,817,000, an increase of approximately HKD 29,816,000 from the previous year[10] - The current ratio stood at 5.4, with current assets of HKD 2,089,945,000 and current liabilities of HKD 388,830,000[10] - Total assets increased to HKD 5,290,467,000 from HKD 5,181,108,000, while total liabilities decreased to HKD 870,229,000 from HKD 957,734,000[8] - The company has no bank loans or overdrafts, resulting in a zero debt-to-equity ratio[10] Inventory and Sales - The average inventory turnover days increased to 152 days from 132 days, while average accounts receivable turnover days increased to 31 days from 27 days[8] - The overall sales for the self-operated retail business decreased by about 18% compared to last year, with total sales amounting to HKD 929,642,000, a decline of approximately 24%[29] - Sales to agents decreased by about 30% compared to last year, significantly impacted by the pandemic[29] - The apparel business sales in Singapore and Malaysia recorded only HKD 34,831,000 for the year, down about 45% from the previous year[32] Costs and Expenses - The total sales cost for the year was HKD 512,776,000, down 24% compared to last year's figures, including direct operating expenses of investment properties which decreased by 15% to HKD 32,137,000[20] - Distribution and marketing costs were HKD 354,888,000, a decrease of 20% from last year's HKD 443,324,000, due to reduced sales-related expenses and the cancellation of various business activities[24] Investment Properties - The company recorded a fair value loss on investment properties of HKD 60,255,000, compared to a fair value gain of HKD 51,518,000 last year[22] - The total value of the investment property portfolio at the end of the year was approximately HKD 2,950,107,000, an increase from HKD 2,900,247,000 at the end of the previous year[34] - The group recorded a fair value loss of HKD 60,255,000 on investment properties, approximately 2% of the total property value at the end of the previous year[34] - The average occupancy rate for the year was about 81%, down from approximately 90% the previous year[36] Property Development - The company has ongoing property development projects with authorized but uncontracted expenditures of HKD 132,000,000 and contracted but unprovided expenditures of HKD 460,006,000[11] - The group has started the construction of the "Jinli Lai Garden" property development project, with expenditures of HKD 424,548,000 incurred by the end of the year[36] - The group continues construction and pre-sale work on the "Jinli Lai Garden" property development project in Meizhou, adjusting each aspect based on actual conditions[39] Environmental, Social, and Governance (ESG) - The company has established a dedicated environmental, social, and governance (ESG) team to formulate strategies and oversee ESG performance[81] - During the reporting period, the company did not identify any non-compliance issues related to bribery, extortion, fraud, or money laundering[82] - The company received over 80 valid feedback responses during the stakeholder engagement process, identifying 19 significant ESG issues[93] - The company adheres to relevant laws and regulations, including the Product Quality Law and Consumer Rights Protection Law, ensuring high product quality and service[96] - The company has implemented a quality management system that complies with government and industry standards, ensuring product safety and quality[97] - The company emphasizes ethical business practices and has a zero-tolerance policy towards corruption[82] - The company actively engages with stakeholders to understand their opinions on ESG management and performance[86] - The company has established a whistleblowing policy to allow employees to report misconduct confidentially[82] Employee and Labor Practices - The group employed a total of 1,688 employees as of December 31, 2020, with a turnover rate of 22%, up from 19% in 2019[114] - The employee composition by gender shows 73% male (1,229) and 27% female, while 98% are full-time employees[114] - Among employees, 76% are aged between 30 to 50 years, while 11% are under 30 and 13% are over 50[114] - The group contributed HKD 24,595,000 to employee retirement funds in 2020, adhering to local regulations[109] - The group has a strict policy against using unauthorized or pirated software in the workplace[103] - The group achieved a training participation rate of 68% among employees in 2020, with 81% for management staff and 66% for general employees[123] - The average training hours for the group in 2020 was 21.8 hours, with management staff receiving an average of 29.3 hours and general employees receiving 21.1 hours[123] - The group reported zero work-related fatalities during the reporting period and a total of 32 days lost due to work-related injuries, down from 68 days in 2019[117] Community Engagement and Support - The company actively participated in community support during the COVID-19 pandemic, providing essential assistance to mitigate its impact[140] - The company donated RMB 500,000 to establish the Jinli Education Scholarship in Meizhou, Guangdong Province, in July 2020[141] - The company provided medical equipment and supplies to hospitals in mainland China, including approximately 120,000 surgical masks and 200 air disinfection machines, in response to the COVID-19 pandemic[141] - A mask factory was established in Meizhou to increase the production of surgical masks to ensure a stable supply for hospitals in mainland China[141] Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance and has complied with the relevant rules and codes[168] - The chairman and CEO positions are held by Mr. Zeng Zhiming, who has over 30 years of experience in the group, enhancing strategic planning and decision-making efficiency[182] - The board consists of six members, including one non-executive director and three independent non-executive directors, ensuring a balanced distribution of power and adequate governance[182] - The nomination committee held two meetings during the year to review the board's size, structure, and composition, including diversity considerations[188] - The company has adopted a nomination policy to regulate the nomination process, considering various factors such as integrity, qualifications, and business experience[186] - The remuneration committee, established in 2005, is responsible for setting transparent procedures for determining the remuneration policy for executive directors and senior management[196] - The remuneration committee held two meetings during the year to review the remuneration of individual executive directors and senior management[200] - All directors confirmed compliance with the relevant provisions of the standard code of conduct during the year[195]

GOLDLION HOLDINGS LIMITED 金利來集團有限公司 Stock Code 股份代號：00533 Interim R 中期報告 y Goldlion 金利來集團有限公司 主席報告 經營業績 聲業叙及毛利 自新型冠狀病毒疫情於二零二零年年初爆發,疫情對服裝零售行業帶來沉重的衝擊,集團業 務亦受到嚴重影響。 集團上半年總營業額為539,403,000港元,較去年同期之744,851,000港元下跌約28%,各項 業務的銷售額皆低於去年同期,其中以服裝服飾和批授經營權業務的跌幅較大,而來自物業 投資的整體收入則錄得單位數字的跌幅。 期闪整體毛利為290,648,000港元,較去年同期之432,833,000港元下跌約33%。豎於疫情發 生後令銷售環境變得不明朗,期內於銷售成本內計提的存貨減值撥帶顯著上升,避 45,920,000港元(去年同期為減值撥備回撥1,294,000港元)。如不計算存貨減值的影響,期內 服裝銷售業務毛利率約55.8%,較去年同期的51.6%上升约4.2個百分點,主要因期內折扣銷 售減少。 經營費用及經營溢利 期內分銷及市務成本為145,861,000港元,較去年同期下降約3 ...

GOLDLION HOLDINGS LIMITED 金利來集團有限公司 Stock Code 股份代號：00533 ANNUAL REPORT 年報 AGoldlion 目錄 02 公司資料 03 財政摘要 05 於中國大陸之銷售網絡 06 主席報告 12 集團物業一覽表 20 環境、社會及管治報告 47 企業管治報告 60 董事會報告 70 獨立核數師報告 76 綜合資產負債表 78 綜合收益表 79 綜合全面收益表 80 綜合權益變動表 81 綜合現金流量表 82 財務報表附註 142 五年財務摘要 二零一九年年報 曾智明先生 太平紳士 公司資料 | --- | --- | |------------------------------------|---------------------------------------------------------------| | | | | 董事 | 律師 | | 主席兼行政總裁： | 胡關李羅律師行 | | 曾智明先生 太平紳士 | 核數師 | | 執行董事： 黃麗群女士 | 羅兵咸永道會計師事務所 香港執業會計師及註冊公眾利益實體核數師 | | 非執 ...