| --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | GIORDANO | | | | | | | Giordano International Limited | | | | | | | | | | | | | | 佐 丹 奴 國 際 有 限 公 司 (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) | | | | | | | | | | | | | Interim Report 2024 中期報告 (Stock Code 股份代號: 709) 目 錄 CONTENTS 所有Heading如要隔空行， 財務摘 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 佐 丹 奴 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：709） 截 至2024年6月30日止六個月 之未經審核中期業績公佈 | --- | --- | |-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - Revenue for 2023 increased to HK$3,873 million, up 2% from HK$3,799 million in 2022[3] - Gross profit rose to HK$2,263 million in 2023, with a gross margin of 58.4%, up from 56.5% in 2022[3] - Operating profit improved to HK$503 million in 2023, with an operating margin of 13.0%, compared to HK$425 million and 11.2% in 2022[3] - EBITDA increased to HK$1,015 million in 2023, with an EBITDA margin of 26.2%, up from HK$913 million and 24.0% in 2022[3] - Net profit attributable to shareholders grew to HK$345 million in 2023, with a net profit margin of 8.9%, compared to HK$268 million and 7.1% in 2022[3] - Revenue for 2023 reached HK$3,873 million, showing a slight increase from HK$3,799 million in 2022[5] - Gross profit for 2023 was HK$2,263 million, with a gross margin of 58.4%, up from 56.5% in 2022[5] - Operating profit for 2023 stood at HK$503 million, a significant improvement from HK$425 million in 2022, with an operating margin of 13.0%[5] - EBITDA for 2023 was HK$1,015 million, with an EBITDA margin of 26.2%, compared to HK$913 million and 24.0% in 2022[5] - Net profit attributable to shareholders for 2023 was HK$345 million, with a net profit margin of 8.9%, up from HK$268 million and 7.1% in 2022[5] - Net profit increased by 28.7% to HK$345 million compared to the previous year[8] - Group revenue increased by 1.9% to HK$3,873 million (2022: HK$3,799 million), or 3.8% growth at constant exchange rates[11][16] - Group gross margin improved by 1.9 percentage points, with retail gross margin reaching 60.6% (2022: 59.5%)[11] - Net profit attributable to shareholders increased by 28.7% to HK$345 million (2022: HK$268 million)[11] - Group same-store sales increased by 6.9% to HK$2,819 million (2022: HK$2,638 million)[13] - Global brand sales grew by 2.7% to HK$4,746 million (2022: HK$4,620 million)[13] - Online sales grew by 7.1%, driven by continued growth in mainland China[16] - Group revenue grew by 1.9% to HK$3,873 million, with comparable retail store sales increasing by 6.9%[17] - Online sales improved by 7.1%, driven by growth in Mainland China, while offline sales increased by 4.7% despite a 2.6% reduction in store count[17] - Gross margin improved by 1.9 percentage points to 58.4%, with retail gross margin reaching 60.6%[20] - Operating profit increased by 18.4% to HK$503 million, with an operating expense-to-revenue ratio of 47.2%[24] - Profit after income taxes attributable to shareholders rose to HK$345 million, with a net margin of 8.9%[28] - 2023 PATS increased to HK$351 million at constant exchange rates, up from HK$268 million in 2022, representing a 31.0% growth[29] - Revenue increased by 6.5% to HK$676 million in 2023, with gross profit rising by 7.8% to HK$429 million[43] - Operating profit grew by 16.1% to HK$130 million, driven by strong performance in the GCC region[43] - Revenue increased to HK$3,873 million in 2023, up from HK$3,799 million in 2022, representing a growth of 1.9%[156] - Gross profit rose to HK$2,263 million in 2023, compared to HK$2,146 million in 2022, reflecting a 5.5% increase[156] - Operating profit improved to HK$503 million in 2023, up from HK$425 million in 2022, showing an 18.4% growth[156] - Profit after income taxes for the year increased to HK$389 million in 2023, compared to HK$329 million in 2022, a rise of 18.2%[156][158] - Earnings per share (basic) increased to 21.6 HK cents in 2023, up from 17.0 HK cents in 2022, a 27.1% growth[156] - Total comprehensive income for the year was HK$377 million in 2023, compared to HK$250 million in 2022, a 50.8% increase[158] - Operating profit before income taxes increased to HK$508 million in 2023 from HK$436 million in 2022, reflecting a 16.5% year-over-year growth[164] - Net cash inflow from operating activities rose to HK$942 million in 2023, up from HK$810 million in 2022, indicating a 16.3% increase[164] - Cash generated from operations reached HK$1,093 million in 2023, compared to HK$911 million in 2022, marking a 20% growth[164] - Profit after income taxes for the year 2023 was HK$345 million, contributing to the total comprehensive income of HK$333 million[168] Store Operations and Inventory - Total number of stores worldwide decreased to 1,822 in 2023 from 1,874 in 2022, with direct-operated stores at 1,055 and franchised stores at 767[3] - Inventory turnover days improved to 108 days in 2023 from 135 days in 2022[3] - The number of stores worldwide at the end of 2023 was 4,259, a significant increase from 2,733 in 2022[5] - Inventory levels were significantly reduced and variable cost ratio increased[8] - The company added 27 overseas franchised stores in 2023, primarily in emerging markets[49] - Inventory turnover days decreased by 27 days to 108 days due to stringent purchase control[57] - System inventories decreased to HK$709 million in 2023, down from HK$893 million in 2022[58] - Total store count in Greater China decreased to 695 in 2023 from 776 in 2022, primarily due to the closure of loss-making direct-operated stores in Mainland China[36] - Southeast Asia and Australia store count remained stable at 565, with Indonesia adding 5 new stores to reach 238 by year-end 2023[40] Cash Flow and Financial Position - Cash and bank balances less bank loans stood at HK$905 million in 2023, down from HK$948 million in 2022[3] - The company's total assets for 2023 were HK$3,856 million, a decrease from HK$4,008 million in 2022[5] - Total liabilities for 2023 were HK$1,544 million, down from HK$1,486 million in 2022[5] - Cash and bank balances, net of bank loans, stood at HK$905 million on December 31, 2023 (2022: HK$948 million)[11] - Capital expenditure during the year was HK$87 million (2022: HK$66 million)[11] - Cash and bank balances decreased to HK$935 million in 2023 from HK$960 million in 2022, a 2.6% decline[159] - Total current assets decreased to HK$1,735 million in 2023 from HK$1,977 million in 2022, a 12.2% reduction[159] - Total liabilities increased to HK$1,544 million in 2023 from HK$1,486 million in 2022, a 3.9% rise[161] - Equity attributable to shareholders of the Company decreased to HK$2,189 million in 2023 from HK$2,317 million in 2022, a 5.5% decline[161] - Net cash outflow from investing activities was HK$155 million in 2023, higher than the HK$76 million outflow in 2022[166] - Dividends received from a joint venture amounted to HK$28 million in 2023, down from HK$32 million in 2022[166] - Net cash outflow from financing activities was HK$926 million in 2023, slightly higher than the HK$853 million outflow in 2022[166] - Cash and cash equivalents at the end of 2023 stood at HK$720 million, a decrease from HK$860 million at the end of 2022[166] - Purchase of property, plant, and equipment totaled HK$87 million in 2023, up from HK$66 million in 2022[166] - Interest income decreased to HK$23 million in 2023 from HK$12 million in 2022[166] - Dividends paid to non-controlling interests were HK$3 million in 2023, compared to HK$2 million in 2022[166] - Total equity decreased from HK$2,522 million at the beginning of 2023 to HK$2,312 million at the end of 2023, reflecting a reduction of HK$210 million[168] - The company paid a final dividend of HK$240 million for 2022 and an interim dividend of HK$274 million for 2023[168] - Non-controlling interests decreased from HK$205 million at the beginning of 2023 to HK$123 million at the end of 2023, a reduction of HK$82 million[168] - Retained profits decreased from HK$819 million at the beginning of 2023 to HK$611 million at the end of 2023, a reduction of HK$208 million[168] - The company issued shares worth HK$47 million upon the exercise of share options[168] - The acquisition of additional interest in a subsidiary resulted in a decrease of HK$53 million in non-controlling interests[168] - The disposal of partial interest in a subsidiary resulted in an increase of HK$2 million in non-controlling interests[168] - The fair value change on financial assets at fair value through other comprehensive income resulted in a loss of HK$8 million[168] - Exchange adjustments on translation of overseas subsidiaries, a joint venture, and branches resulted in a loss of HK$10 million[168] Dividends and Shareholder Returns - Dividend per share increased to HK$0.305 in 2023 from HK$0.235 in 2022, with a dividend payout ratio of 141.3%[3] - Total dividend for the year rose by 29.8% to 30.5 HK cents per share[8] - The Company's Board recommended a final dividend of 13.5 HK cents per share, with total dividends for the year increasing by 29.8% to 30.5 HK cents per share[11] - Full-year dividend increased by 29.8% to 30.5 HK cents per share (2022: 23.5 HK cents per share)[62] - The Board recommended a final dividend of 13.5 HK cents per share for the year ended December 31, 2023, payable on June 14, 2024[122] - The company's dividend policy, adopted on November 8, 2018, aims to allow shareholders to participate in profits while retaining reserves for future growth[117] - The company may consider declaring special dividends in addition to semi-annual dividends, depending on financial conditions and commitments[117] - The company's ability to pay dividends depends on factors such as distributable profits, operating results, and capital expenditure plans of its subsidiaries[117] - The Board has discretion on dividend payments, subject to shareholder approval, with decisions based on operations, earnings, capital needs, and financial conditions[118] Market Capitalization and Shareholding - Market capitalization rose to HK$4,259 million in 2023 from HK$2,733 million in 2022[3] - Market capitalization for 2023 was HK$1,613,417 million, slightly up from HK$1,579,817 million in 2022[5] - Director Lau Kwok Kuen, Peter holds 27,518,000 shares, representing approximately 1.71% of the total shareholding[131] - Director Chan Ka Wai holds 8,456,000 shares, including 7,700,000 share options, representing approximately 0.52% of the total shareholding[131] - Director Mark Alan Loynd holds 9,064,000 shares through share options, representing approximately 0.56% of the total shareholding[131] - Cheng Yu Tung Family (Holdings) Limited and related entities hold 388,180,000 shares, representing 24.05% of the total issued shares of 1,613,416,518 as of December 31, 2023[135][136] - Sino Wealth International Limited, a wholly-owned subsidiary of Chow Tai Fook Nominee Limited, holds 388,180,000 shares, with Chow Tai Fook Capital Limited holding an 81.03% interest in Chow Tai Fook (Holding) Limited[135] - The company maintained sufficient public float as required by the Listing Rules, with no purchase, sale, or redemption of listed securities during the year ended December 31, 2023[140] - The total number of shares issued by the company as of December 31, 2023, is 1,613,416,518[129] Corporate Governance and Board Composition - The company emphasizes corporate governance and social responsibility, treating staff and suppliers as equal partners[9] - The Board adopted new Terms of Reference for the Remuneration Committee on January 1, 2023, and revised the shareholders' communication policy on March 9, 2023, and December 31, 2023[72] - The Board reviewed the Board Diversity Policy and the Nomination Policy on November 2, 2023[72] - The Company fully complied with the Corporate Governance Code provisions except for deviations from Code Provisions B.2.2 and C.2.1[72] - The Board is responsible for setting the Group's overall objectives, strategies, and monitoring financial performance[73] - The Board ensures independent views and input are available, with a strong independence element in its current composition[75] - The Board reviewed the implementation and effectiveness of the board independence mechanism for the year ended December 31, 2023, and considered it effective[75] - The Board is responsible for developing, reviewing, and updating corporate governance policies and practices[76] - The Board determines the nature and extent of significant risks, including ESG risks, in achieving strategic objectives[76] - The Board reviews and monitors the Group's disclosure process, including the accuracy and materiality of inside information[76] - The Board consists of three Independent Non-executive Directors, two Non-executive Directors, and three Executive Directors as of December 31, 2023[77] - The Independent Non-executive Directors and Non-executive Directors provide diverse expertise, skills, and experience, offering effective guidance and an outside perspective on major decisions[77] - The Board emphasizes diversity, including gender diversity, across all levels of the Group, with details on gender ratio available in the ESG Report[77] - The Board has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee, along with a Management Committee and Risk Management Committee[77] - Dr. LAU Kwok Kuen, Peter serves as the Chairman and Chief Executive, and is a member of the Nomination Committee and Remuneration Committee[79] - Dr. Barry John BUTTIFANT is the Chairman of the Audit Committee and a member of the Nomination and Remuneration Committees[79] - Professor WONG Yuk is the Chairman of the Remuneration Committee and a member of the Audit and Nomination Committees[79] - Mr. TSANG On Yip, Patrick, a Non-executive Director, is the CEO and a director of Chow Tai Fook Enterprises Limited, a substantial shareholder[80] - Mr. LEE Chi Hin, Jacob, a Non-executive Director, serves as a senior vice president of Chow Tai Fook Enterprises Limited[80] - The Board believes that the relationships of the Non-executive Directors do not affect their independent judgment and integrity in executing their roles[81] - The appointment of a new Director is made by the Board upon recommendation by the Nomination Committee, considering diversity in accordance with the Company's Board Diversity Policy[82] - Any new Director (other than the Chairman or the Managing Director) appointed by the Board must retire and be re-elected by Shareholders at the next AGM following their appointment[82] - At each AGM, one-third (or the number nearest to, but not less than one-third) of the Directors (other than the Chairman or the Managing Director) will retire from office by rotation[82] - Non-executive Directors have an initial term of three years and can continue in office subject to termination by not less than one month's prior notice in writing[82] - The Board believes that stability and continuation are key factors to the successful implementation of business plans of the Group, and the Chairman should be exempt from retirement by rotation[82] - Dr. Barry John BUTTIFANT, an Independent Non-executive Director, has served since March 3, 1995, and continues to provide invaluable expertise and experience to the Board[83] - All Independent Non-executive Directors provided confirmation of independence in accordance with rule 3.13 of the Listing Rules, and the Board considers them independent[83] - Dr. BUTTIFANT voluntarily retired and was re-elected as Director at the AGM held on May 20, 2022, and will retire by rotation at the forthcoming AGM[83] - The Board held four regular meetings and passed six sets of written resolutions during the year ended December 31, 2023, focusing on quarterly operational updates, future strategies, policies, and budgets[84] - All Executive Directors attended 4 out of 4 Board meetings, while Independent Non-executive Directors had varying attendance rates, with some attending 3 out of 4 meetings[87] - The Company provides comprehensive induction packages to newly appointed Directors to ensure they are aware of their responsibilities as directors of a Hong Kong-listed company[90] - The Company has arranged appropriate directors' and officers' liability insurance in line with the Corporate Governance Code[91] - The Company Secretary regularly updates Directors on changes in Listing Rules, corporate governance practices, and other regulatory regimes, providing

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 佐 丹 奴 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：709） 截 至2023年12月31日止年度 之業績公佈 | --- | --- | |-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 概覽 | | | • | 本集團為國際服裝零售商，擁有眾多自有、加盟及授權經營 ...

| --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | GIORDANO | | | | | | | Giordano International Limited | | | | | | | | | | | | | | 佐 丹 奴 國 際 有 限 公 司 (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) | | | | | | | | | | | | | Interim Report 2023 中期報告 (Stock Code 股份代號: 709) 目 錄 CONTENTS 所有Heading如要隔空行， 請將空 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 佐 丹 奴 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：709） 截 至2023年6月30日止六個月 之未經審核中期業績公佈 | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------------------------| | | | | 概 覽 | | | • | 本集團銷售額增加 5.0% 至 19.70 億 港 元（ 2022 年： 18.77 億 港 元）。大 中 華、東 南 亞 及海灣阿拉伯國家合作委員會三大市場均錄得增長。 | | • | 毛利率上升 3.6 個百分點至 58.7% （ 2022 年： 55.1% ），此 乃 售 價 上 升 和 ...

| --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | GIORDANO | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Giordano International Limited | | | | | | | | | | | | | | | | 佐 丹 奴 國 際 有 限 公 司 | | | | | | | | | | | | | | | | (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) | | | | | | | | | | | | ...