Financial Performance - Total revenue for the first half of the year was HKD 744,851,000, a decrease of approximately 5% compared to HKD 783,156,000 in the same period last year[8]. - Overall gross profit was HKD 432,833,000, down about 5% from HKD 457,859,000 year-on-year, with a gross margin of 58.1%, slightly lower than 58.5% in the previous year[3][8]. - Operating profit for the period was HKD 186,365,000, a decline of approximately 4% from HKD 194,784,000 in the same period last year[9]. - Profit attributable to the company's owners was HKD 163,329,000, down about 5% from HKD 171,096,000 year-on-year[9]. - The group recorded operating rights income of HKD 42,063,000, a decrease of about 12% compared to the previous year[15]. - The group reported a total lease liability of HKD 27,997,000 as of January 1, 2019, with current lease liabilities of HKD 11,464,000 and non-current lease liabilities of HKD 16,533,000[65]. - The group’s profit before tax was HKD 197,997,000, resulting in a net profit of HKD 163,329,000 after tax expenses of HKD 34,668,000[94]. Revenue Breakdown - The company's retail sales in mainland China amounted to HKD 580,036,000, a decrease of approximately 5% compared to the previous year, although sales in RMB remained relatively stable[11]. - The group's total revenue for the period was HKD 744,851,000, with a breakdown of HKD 622,099,000 from apparel and accessories, HKD 31,044,000 from development, and HKD 91,708,000 from other segments[94]. - The group generated sales from goods amounting to HKD 611,080,000, down from HKD 644,152,000 year-on-year, indicating a decrease of about 5.1%[87]. - Rental income from investment properties was HKD 72,638,000, slightly down from HKD 73,204,000 in the previous year, reflecting a decrease of approximately 0.8%[87]. Expenses and Liabilities - The group’s administrative expenses were HKD 83,940,000, down 13% from HKD 96,202,000 in the same period last year[8]. - The group’s distribution and marketing costs accounted for 28.4% of total revenue, slightly higher than 27.9% in the previous year[8]. - The company’s total liabilities were HKD 928,116,000, slightly up from HKD 927,572,000, reflecting a marginal increase of about 0.1%[37]. - The group reported a decrease in business payables, with HKD 48,224,000 due within 90 days as of June 30, down from HKD 53,854,000 as of December 31[111]. Cash Flow and Capital Expenditure - As of June 30, 2019, the group's cash and bank balance was HKD 1,284,277,000, a decrease of approximately HKD 45,660,000 from the end of the previous year[30]. - The group recorded a net cash inflow from operating activities of HKD 94,847,000 and interest income of HKD 14,554,000 during the period[30]. - The total capital expenditure authorized but not contracted for the "Jinli Lai Garden" project in Meixian is approximately HKD 249,000,000[30]. - The group had commitments for investment properties of HKD 279,000,000 as of June 30, 2019, down from HKD 303,000,000 at the end of 2018, indicating a decrease of approximately 7.9%[127]. Market Outlook - The group maintains a cautious outlook for the remainder of 2019, anticipating significant downward pressure on the domestic economy and a slowdown in growth[24]. - The group expects the business of domestic agents to remain challenging in the second half of the year, with preliminary data indicating a double-digit decline in order amounts compared to the same quarter last year[27]. Shareholder Information - Major shareholders hold significant stakes, with the Sai family managing 613,034,750 shares, representing 62.42% of the issued share capital[152]. - The total number of shares held by directors and executives includes 614,438,750 shares, accounting for 62.56% of the issued share capital[147]. - The company did not repurchase any shares during the period and did not engage in any share trading activities[144]. Corporate Governance - The company has complied with the corporate governance code as per the Stock Exchange's listing rules for the six months ended June 30, 2019[154]. - The audit committee has reviewed the unaudited interim financial information for the six months ended June 30, 2019[156]. - The company has established an audit committee to oversee financial reporting and internal control systems[155].

Financial Performance - The total revenue for the year was HKD 1,681,640,000, an increase of approximately 5% compared to last year's HKD 1,602,786,000[13] - The overall gross profit for the year was HKD 977,426,000, up about 8% from last year's HKD 905,840,000, with a gross profit margin of approximately 58.1%[13] - Operating profit for the year was HKD 433,731,000, representing a 12% increase from last year's HKD 387,921,000, with an operating profit margin of 25.8%[20] - The net profit attributable to shareholders was HKD 376,244,000, an increase of approximately 17% from last year's HKD 322,275,000[20] - The company recorded cash and bank balances of HKD 1,329,937,000 as of December 31, 2018, an increase of approximately HKD 17,679,000 from the previous year[8] - The company proposed a final dividend of HKD 0.13 per share, amounting to approximately HKD 127,675,000, compared to HKD 122,764,000 last year[19] Sales and Market Performance - The total domestic apparel sales revenue for the year was HKD 1,322,328,000, representing an increase of approximately 5% compared to the previous year, primarily driven by wholesale business growth[22] - The sales to agents increased by about 9% year-on-year, attributed to a rise in order bookings and an increase in inventory sold at year-end[22] - The self-operated retail business (excluding outlet stores) experienced a decline of approximately 2% in revenue, with Chongqing seeing a drop of around 10%[22] - The e-commerce business grew by about 3%, accounting for approximately 30% of the group's domestic apparel sales[24] - The total sales revenue for the Singapore and Malaysia apparel business was HKD 62,268,000, a decrease of about 6% compared to the previous year[27] Cost and Expenses - The distribution and marketing costs for the year were HKD 432,179,000, a slight decrease of HKD 5,895,000 or 1% from the previous year[14] Property and Investment - The company had capital commitments of HKD 870,000,000 for property development projects as of December 31, 2018[9] - The rental and property management income from the Hong Kong Shatin property increased by approximately 10% year-on-year, mainly due to higher rental levels from new leases[29] - The property investment business will continue to enhance rental potential, ensuring stable rental income, with expected contributions from properties in Hong Kong and Guangzhou[31] - The property at 3 Sunrise Street, To Kwa Wan, Hong Kong, is projected to generate rental income in the first half of 2019, alongside the Guangzhou property expected to be leased by year-end[31] Environmental Impact - In 2018, the company emitted a total of 6,829 tons of CO2 equivalent, a decrease from 8,151 tons in 2017, representing a reduction of approximately 16%[82] - The greenhouse gas emission density per employee in 2018 was 3.78 tons of CO2 equivalent, down from 4.39 tons in 2017, indicating a reduction of about 14%[82] - The company reported a total of 75.8 tons of recyclable waste in 2018, including 63.8 tons of paper, 7.6 tons of metal, and 3.8 tons of clothing[84] - The company reduced its non-hazardous waste to 125.4 tons in 2018, down from 289.1 tons in 2017, a decrease of about 57%[84] - The company implemented effective energy-saving measures, resulting in a nearly 20% reduction in indirect emissions in 2018 compared to 2017[83] Employee and Workforce - As of December 31, 2018, the group had approximately 1,850 employees, a slight decrease from 1,860 in 2017, primarily due to restructuring in Singapore[119] - The overall employee turnover rate for 2018 was approximately 23%, an improvement from 24% in 2017, with a notable turnover rate of 32% for male employees[120] - The total retirement benefit contributions for 2018 amounted to approximately HKD 41,393,000, an increase from HKD 38,731,000 in the previous year[126] - The group maintains a competitive salary policy, regularly conducting market surveys to ensure employee compensation is competitive within the industry[122] - The group emphasizes work-life balance, with most employees working five days a week for a total of 40 hours[121] Training and Development - 57% of the group's employees received training in 2018, with a total of approximately 26.1 hours of training per participating employee[154] - The average training hours completed by female employees in 2018 was 30.6 hours, compared to 11.8 hours for male employees[156] - The company offers a variety of internal and external training programs to enhance employee skills and knowledge[146] Compliance and Ethics - The company strictly adheres to a "no child labor" policy and has not encountered any violations related to child or forced labor during the year[159] - The company has implemented measures to prevent bribery and conflicts of interest among employees and business partners[198] - The company has established multiple channels for reporting bribery and conflicts of interest, allowing partners and employees to report issues via phone, mail, or email[199]