Investment Rating - The investment rating for Emperor Watch and Jewelry (0887.HK) is not explicitly stated in the provided documents, but the report indicates a positive outlook based on the company's performance and growth strategies [1]. Core Insights - The company reported a revenue of HKD 57.65 billion for 2025, representing a year-on-year increase of 10.2%, and a net profit of HKD 4.31 billion, which is a significant increase of 67.7% [1]. - In the second half of 2025, the company achieved a revenue of HKD 29.72 billion, up 12.9% year-on-year, and a net profit of HKD 2.62 billion, reflecting a remarkable increase of 263.7% [1]. - The company plans to expand its franchise model and enhance its multi-channel strategy, including online retail and e-commerce platforms, to drive future growth [3]. Revenue Breakdown - In 2025, the revenue by product category was HKD 35.3 billion from watches and HKD 22.4 billion from jewelry, accounting for 61% and 39% of total revenue, respectively. The year-on-year growth for watches was 5.8% and for jewelry was 18.1% [2]. - By region, the revenue distribution was HKD 33.1 billion from Hong Kong, HKD 3.4 billion from Macau, HKD 16.3 billion from mainland China, and HKD 4.9 billion from Southeast Asia, with mainland China showing a significant growth rate of 20.3% [2]. Franchise and Channel Expansion - As of the end of 2025, the company operated 64 stores across various regions, including 28 in Hong Kong, 9 in Macau, 20 in mainland China, 6 in Singapore, and 1 in Malaysia. The company plans to open additional stores in 2026, particularly in mainland China [3]. - The company has seen growth in its jewelry wholesale business, primarily driven by its franchise channel, which has created additional revenue streams [2]. Profitability and Cost Management - The company's gross margin for 2025 was 30.9%, an increase of 2.6 percentage points year-on-year, and the net profit margin was 8.0%, up 3.0 percentage points [3]. - The management has effectively controlled operating expenses, with sales and administrative expenses decreasing as a percentage of revenue [3]. Profit Forecast - The forecast for the company's net profit for 2026 to 2028 is projected to be HKD 5.5 billion, HKD 6.5 billion, and HKD 7.5 billion, respectively, with corresponding price-to-earnings ratios of 4.2X, 3.5X, and 3.0X [4].

EF001 第 2 頁 共 2 頁 v 1.1.1 | EF001 | | --- | | 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，董事會成員為： | | | 執行董事： | | | 楊諾思女士 | | | 梁浩昌先生 | | | 范敏嫦女士 | | | 獨立非執行董事： | | | 廖慶雄先生 | | | 羅家明先生 | | | 黎家鳳女士 | | 免責聲明 | 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告的內容概不負責，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 公告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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 英皇鐘錶珠寶有限公司 | | 股份代號 | 00887 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至202 ...

| EF001 | | --- | | 其他信息 | | | --- | --- | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，董事會成員為： | | | 執行董事： | | | 楊諾思女士 | | | 梁浩昌先生 | | | 范敏嫦女士 | | | 獨立非執行董事： | | | 廖慶雄先生 | | | 羅家明先生 | | | 黎家鳳女士 | | EF001 免責聲明 | 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告的內容概不負責，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 公告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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 英皇鐘錶珠寶有限公司 | | 股份代號 | 00887 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日止年度之末期股息 | | 公告日期 | 2026年3月25日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | ...

Financial Performance - Total revenue increased by 10.2% to HKD 5,765 million for the year ended December 31, 2025, compared to HKD 5,230 million in 2024[3] - Net profit surged by 67.7% to HKD 431 million, up from HKD 257 million in the previous year[5] - Adjusted EBITDA rose by 49.2% to HKD 646 million, compared to HKD 433 million in 2024[3] - Gross profit increased by 20.2% to HKD 1,780 million, with a gross margin improvement to 30.9% from 28.3%[5] - The group's revenue for the year ended December 31, 2025, was HKD 5,765,299,000, representing a 10.2% increase from HKD 5,230,331,000 in 2024[22] - The gross profit for the same period was HKD 1,779,500,000, up from HKD 1,480,943,000 in 2024, indicating a growth of 19.9%[22] - The net profit for the year was HKD 431,290,000, compared to HKD 256,737,000 in 2024, reflecting a significant increase of 67.9%[22] - The operating profit for the Asia-Pacific region was HKD 882,353,000 for the year ended December 31, 2025, compared to HKD 581,146,000 in 2024, showing a significant increase of about 51.8%[32][33] - The company reported a pre-tax profit of HKD 531,401,000 for the year ended December 31, 2025, compared to HKD 317,038,000 in 2024, indicating a growth of approximately 67.5%[32][33] - The company's profit before tax for 2025 was HKD 458,436,000, a significant increase from HKD 256,737,000 in 2024, representing an increase of approximately 78.3%[45] Revenue Sources - Revenue from Hong Kong grew by 13.3% to HKD 3,313 million, accounting for 57.5% of total revenue[4] - Revenue from mainland China increased by 20.3% to HKD 1,625 million, representing 28.2% of total revenue[4] - The jewelry segment's revenue rose by 18.1% to HKD 2,236 million, while the watch segment's revenue increased by 5.8% to HKD 3,529 million[4] - Retail sales of watches generated HKD 3,492,386,000 in 2025, up from HKD 3,319,145,000 in 2024, indicating a growth of about 5.2%[37] - Jewelry retail sales increased to HKD 2,123,572,000 in 2025 from HKD 1,892,997,000 in 2024, reflecting a growth of approximately 12.2%[37] Strategic Initiatives - The company plans to expand its jewelry business in mainland China through a strategic partnership with a seasoned industry expert[8] - The company aims to enhance its online presence through platforms like Xiaohongshu and Douyin, and plans to engage in e-commerce live streaming[9] - The group plans to open a multi-store Rolex specialty store and a multi-brand watch store in Tsim Sha Tsui, enhancing its competitive edge in the luxury watch retail market[13] - The company has established a joint venture to design, produce, and sell precious metal and jewelry products under the "Emperor Jewelry" brand in mainland China[18] Financial Position - The company maintained a net cash position of HKD 1,598,000,000 as of December 31, 2025, up from HKD 950,000,000 in 2024[14] - The current assets and current liabilities were approximately HKD 5,002,000,000 and HKD 837,000,000, respectively, resulting in a current ratio of 6.0[14] - Non-current assets increased to HKD 1,917,426 thousand in 2025 from HKD 1,870,537 thousand in 2024, representing a growth of 2.5%[23] - Current assets rose to HKD 5,001,595 thousand in 2025, up from HKD 4,071,818 thousand in 2024, marking an increase of 22.8%[23] - Total liabilities increased to HKD 837,417 thousand in 2025 from HKD 531,188 thousand in 2024, showing a growth of 57.5%[23] - Total equity increased to HKD 5,885,798 thousand in 2025, compared to HKD 5,214,090 thousand in 2024, reflecting a growth of 12.8%[23] Employee and Operational Costs - The total employee cost for the year was HKD 399,000,000, up from HKD 370,000,000 in 2024, with a workforce of 540 sales personnel and 244 office staff[19] - The company’s employee costs, including directors' remuneration, rose to HKD 399,197,000 in 2025 from HKD 370,281,000 in 2024, reflecting an increase of approximately 7.8%[46] Dividends and Shareholder Returns - The board has proposed a final dividend of HKD 0.0114 per share, an increase from HKD 0.0045 per share in 2024, subject to shareholder approval[20] - The company proposed a final dividend of HKD 0.0114 per share for 2025, up from HKD 0.0045 per share in 2024, representing an increase of approximately 153.3%[44] Compliance and Governance - The company has applied new and revised Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the financial statements for the current and prior years[24] - The auditor's report for the financial statements of both years was unqualified, indicating no significant issues were raised[25] - The independent auditor Deloitte confirmed that the preliminary announcement figures align with the audited consolidated financial statements approved by the board on March 25, 2026[55] - The audit committee, along with Deloitte, reviewed the audited consolidated financial statements, affirming they were prepared in accordance with applicable accounting standards[56] - The company adhered to all corporate governance code provisions as outlined in the listing rules during the year[57] - The company has adopted its own code of conduct for securities trading, which meets or exceeds the standards set by the listing rules[58] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[61] Miscellaneous - The company completed the acquisition of Empire Investment Limited for HKD 79,981,000 on August 29, 2025, aimed at expanding its retail operations[52] - The company incurred a net loss of HKD 48,917,000 from gold lending in 2025, which was not present in 2024[51] - The average number of ordinary shares for calculating basic earnings per share increased to 7,230,557,444 in 2025 from 6,779,458,129 in 2024, an increase of about 6.6%[45] - The company recognized other reserves of HKD 83,509,000 from the sale of partial interests in subsidiaries while retaining control, with the consideration received amounting to HKD 210,458,000[54] - No purchases, sales, or redemptions of the company's listed securities occurred during the year[59] - The annual performance announcement has been published on the Hong Kong Stock Exchange and the company's website[60]

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告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分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。 承董事會命 英皇鐘錶珠寶有限公司 公司秘書 馮佩玲 獨立非執行董事： 廖慶雄先生 羅家明先生 黎家鳳女士 董事會會議日期 英皇鐘錶珠寶有限公司（「本公司」）董事會（「董事會」）宣佈，本公司將於 2026 年 3 月 25 日（星期三）舉行董事會會議，藉以（其中包括）批准本公司及其附屬公 司截至 2025 年 12 月 31 日止年度之全年業績公告，以及考慮會否建議派發末期股息。 （於香港註冊成立之有限公司） （股份代號：887） 香港，2026年3月13日 於本公告日期，董事會成員為： | 執行董事： | 楊諾思女士 | | --- | --- | | | 梁浩昌先生 | | | 范敏嫦女士 | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年2月28日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 英皇鐘錶珠寶有限公司 | | | 呈交日期: | 2026年3月5日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00887 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 7,256,708,129 0 7,256,708,129 增加 / 減少 (-) 0 0 本月底結存 7,256,708,129 0 7,256,708,129 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.37D(1)條或第25.21D ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年2月28日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 英皇鐘錶珠寶有限公司 | | | 呈交日期: | 2026年3月4日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00887 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 7,256,708,129 0 7,256,708,129 增加 / 減少 (-) 0 0 本月底結存 7,256,708,129 0 7,256,708,129 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.37D(1)條或第25.21D ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 英皇鐘錶珠寶有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00887 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 7,256,708,129 0 7,256,708,129 增加 / 減少 (-) 0 0 本月底結存 7,256,708,129 0 7,256,708,129 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.37D(1)條或第25.21D(1)條，我們在此確認，就上述所列股份類別而言，截至本月底: | | --- | | ✔ 已符合適用的公眾持股量要求（見 ...

Core Viewpoint - Emperor Watch and Jewellery (00887) experienced a significant increase of over 36%, reaching HKD 0.32 with a trading volume of HKD 13.8084 million, following the announcement of strong financial projections for the upcoming years [1] Financial Performance - The company anticipates a net profit of no less than HKD 420 million for the fiscal year ending December 31, 2025, and a net profit of HKD 257 million for 2024 [1] - The substantial increase in net profit of over 60% for the current year is attributed to strong retail performance in Hong Kong and mainland China, leading to an increase in total revenue and overall gross profit [1]

Core Viewpoint - Emperor Watch and Jewelry (00887) experienced a significant stock price increase of over 36%, with a current price of HKD 0.315 and a trading volume of HKD 16.1997 million, following the announcement of strong financial projections for the upcoming years [1][4]. Financial Performance - The company expects to achieve a net profit of no less than HKD 420 million for the fiscal year ending December 31, 2025, and a net profit of HKD 257 million for 2024 [4]. - The net profit for the current year is projected to increase by over 60%, primarily due to strong retail performance in Hong Kong and mainland China, leading to an increase in total revenue and overall gross profit [4].