Summary of Key Points Core Viewpoint - As of May 28, a total of 65 stocks reached their 52-week highs, with notable performances from Kingway Medical Holdings (08559), China Silver Technology (00515), and Honghui Group (00183) leading the list with high rates of increase [1]. Group 1: Stocks Reaching 52-Week Highs - Kingway Medical Holdings (08559) achieved a closing price of 0.027 with a peak of 0.045, marking a high rate of 32.35% [1]. - China Silver Technology (00515) closed at 0.280, reaching a maximum of 0.305, resulting in a high rate of 28.15% [1]. - Honghui Group (00183) had a closing price of 0.255, with a peak price of 0.255, reflecting a high rate of 27.50% [1]. - Other notable stocks include Emperor Watch and Jewellery (00887) with a high rate of 27.14% and Sogo Department Store (00312) at 21.79% [1]. Group 2: Additional Stocks with Significant Increases - Lehua Entertainment (02306) reached a high rate of 13.73% with a closing price of 2.540 [1]. - Kingway Medical (08143) had a closing price of 0.124 and a peak of 0.230, resulting in a high rate of 10.05% [1]. - Other stocks with notable increases include Zhu Feng Gold (01815) at 6.98% and Yaoshi Bang (09885) at 6.68% [1]. Group 3: Stocks with Lower Performance - The report also includes stocks that did not perform as well, with some reaching their 52-week lows, such as China Parenting Network (01736) with a low rate of -14.40% [2]. - XI Nan Tes-U (09366) and XI Nan Tes (07366) also showed declines of -10.08% and -8.60% respectively [2]. - Other stocks like He Fu Hui Huang (00733) and Pai Ge Biomedical-B (02565) experienced decreases of -7.04% and -6.95% [2].

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Financial Performance - Total revenue increased by 8.4% to HK$5,230.3 million in 2024, compared to HK$4,823.2 million in 2023[19] - Revenue from Hong Kong rose by 16.5% to HK$2,923.2 million, accounting for 55.9% of total revenue[19] - Revenue from the jewellery segment surged by 41.0% to HK$1,893.0 million, representing 36.2% of total revenue[19] - Gross profit for the year was HK$1,480.9 million, slightly up from HK$1,450.3 million in 2023[20] - Net profit decreased by 14.0% to HK$256.7 million, down from HK$299.2 million in 2023[20] - Basic earnings per share fell to HK3.79 cents, compared to HK4.41 cents in the previous year[20] Dividends - The company recommended a final dividend of HK0.45 cent per share, down from HK0.56 cent in 2023[20] - Total dividends for the full year amounted to HK1.10 cents per share, a decrease from HK1.32 cents in 2023[20] - The Group's interim dividend for the Year was HK$0.65 per share, totaling approximately HK$44.1 million, a decrease from HK$51.5 million in 2023[101] - The proposed final dividend is HK$0.45 per share, amounting to approximately HK$32,700,000, down from HK$0.56 per share and HK$38,000,000 in 2023[106] Market Environment - Market uncertainties, including geopolitical tensions and soft consumer confidence in China, impacted the business environment[24] - The Group expects the overall retail market to regain growth momentum due to increased foot traffic and disposable income following recent economic stimulus measures[50] Business Strategy and Operations - The company continues to be a leading retailer of European-made watches and jewellery products under its own brand, "Emperor Jewellery"[25] - The Group aims to enhance its brand positioning and increase market share in the wedding market by expanding product diversity and personalisation[44] - The Group is focused on maintaining solid relationships with major high-end luxury Swiss watch brands to uphold its leading position in the watch industry[35] - The Group plans to optimise product offerings in response to dynamic market conditions and enhance its competitive edge[54] - The Group has established a presence on several online shopping platforms, including HKTVmall, Tmall, and jd.com, to enhance customer experience and expand revenue sources[46] Store and Market Presence - As of December 31, 2024, the Group operates a total of 82 stores across Hong Kong, Macau, Mainland China, Singapore, and Malaysia, with 34 stores in Mainland China alone[32] - Approximately 75% of the Group's stores in Mainland China are located in first-tier and new first-tier cities, aligning with its customer targeting strategy[33] Financial Position - As of December 31, 2024, the Group's bank balances and cash increased to HK$949.8 million, up from HK$619.6 million in 2023, with no bank borrowings reported[55] - The Group's current assets and current liabilities were approximately HK$4,071.8 million and HK$531.2 million, respectively, resulting in a current ratio of 7.7, an increase from 7.3 in 2023[56] - The Group maintained a net cash position with a net gearing ratio of zero as of December 31, 2024, consistent with the previous year[58] - The current ratio and quick ratio improved to 7.7 and 2.0, respectively, indicating strong liquidity[56] - The Group has approximately HK$1,043.3 million in unutilized banking facilities available for future use[55] Shareholder Information - As of December 31, 2024, Ms. Cindy Yeung holds 4,298,630,000 shares, representing 63.41% of the issued voting shares of the Company[141] - The Company has a share option scheme with 687,308,812 options available for grant, equating to 9.47% of the issued shares as of the report date[151] - The total number of shares held by Ms. Cindy Yeung in Emperor E Hotel is 636,075,041, which is 53.52% of the issued voting shares[148] Corporate Governance - The Board is committed to high standards of corporate governance, ensuring accountability, responsibility, and transparency towards shareholders and stakeholders[199] - The company fully complied with all code provisions of the Corporate Governance Code during the year[200] Connected Transactions - The Group's transactions with connected persons were deemed non-exempt continuing connected transactions under Chapter 14A of the Listing Rules[179] - The independent auditor issued an unqualified conclusion regarding the Non-exempt Continuing Connected Transactions (CCTs) in accordance with the Listing Rules[181]

Financial Performance - Total revenue increased by 8.4% to HKD 5,230 million for the year ended December 31, 2024, compared to HKD 4,823 million in 2023[4] - Net profit decreased by 14.0% to HKD 257 million, down from HKD 299 million in the previous year[4] - Adjusted EBITDA decreased by 7.9% to HKD 433 million, reflecting challenges in operational performance[4] - Basic earnings per share fell by 14.0% to HKD 3.79, down from HKD 4.41 in 2023[6] - The company's gross profit for the same period was HKD 1,480,943,000, slightly up from HKD 1,450,281,000 in 2023, indicating a gross margin improvement[24] - The net profit for the year was HKD 256,737,000, down from HKD 299,219,000 in 2023, reflecting a decrease of 14.2%[24] - The company reported a pre-tax profit of HKD 317,038,000 for the year ended December 31, 2024, compared to HKD 367,732,000 in 2023, a decrease of approximately 13.8%[34] - Total tax expenses for 2024 amounted to HKD 60,301,000, a decrease of 11.9% from HKD 68,513,000 in 2023[43] Revenue Breakdown - Revenue from Hong Kong increased by 16.5% to HKD 2,923 million, accounting for 55.9% of total revenue[5] - Jewelry segment revenue surged by 41.0% to HKD 1,893 million, representing 36.2% of total revenue[5] - Sales of watches amounted to HKD 3,319,145,000 in 2024, down from HKD 3,465,488,000 in 2023, reflecting a decline of approximately 4.2%[39] - Jewelry sales increased significantly to HKD 1,892,997,000 in 2024, up from HKD 1,342,848,000 in 2023, marking a growth of around 40.9%[39] - The segment profit for the Asia-Pacific region was HKD 581,146,000 for 2024, compared to HKD 609,402,000 in 2023, indicating a decrease of about 4.6%[34] Dividends and Shareholder Returns - The company has proposed a final dividend of HKD 0.45 per share, down from HKD 0.56 per share in the previous year[6] - The board proposed a final dividend of HKD 0.0045 per share, down from HKD 0.0056 per share in 2023, subject to shareholder approval[21] - The company proposed a final dividend of HKD 0.0045 per share for 2024, down from HKD 0.0056 per share in 2023, representing a decrease of 19.6%[47] Operational Highlights - The total number of stores reached 82 across Hong Kong, Macau, mainland China, Singapore, and Malaysia[10] - The company plans to enhance its e-commerce business by leveraging online platforms to capture the potential of internet and mobile users[15] - The company aims to expand its market share in the wedding jewelry sector by diversifying product offerings and enhancing brand exposure[14] - The company continues to explore market expansion opportunities and new product development to enhance future growth prospects[44] Financial Position - The company maintained a strong liquidity position with a current ratio of 7.7 and a quick ratio of 2.0 as of December 31, 2024[17] - The company reported cash and cash equivalents of HKD 916,360,000 as of December 31, 2024, a significant increase from HKD 458,750,000 in 2023[26] - The company has approximately HKD 1,043,300,000 in available but undrawn bank financing, indicating strong financial flexibility[17] - The company incurred financing costs of HKD 24,119,000 in 2024, compared to HKD 10,228,000 in 2023, indicating an increase of approximately 136.5%[34] - The company’s total assets decreased to HKD 223,822,000 in 2024 from HKD 271,677,000 in 2023, indicating a decline of 17.6%[50] - The company’s cash and cash equivalents were reported at HKD 116,704,000 in 2024, down from HKD 177,341,000 in 2023, a decrease of 34.2%[50] Employee Costs - The total employee cost for the year was HKD 370,300,000, an increase from HKD 340,000,000 in 2023, reflecting a focus on talent retention and competitive compensation[20] - The total employee costs, including director remuneration, rose to HKD 370,281,000 in 2024 from HKD 339,996,000 in 2023, an increase of about 8.9%[42] Market Conditions - Total revenue from operations in 2024 is expected to be impacted by ongoing market conditions, with a focus on cost management strategies[44] - The company has not recognized any tax provisions for Malaysia due to no taxable profits generated in 2024[46] Governance and Reporting - The board of directors consists of executive and independent non-executive members, ensuring diverse governance[63] - The annual performance announcement has been published on the Hong Kong Stock Exchange website and the company's website[62] - The annual report will be published at an appropriate time on the aforementioned websites and sent to shareholders[62]

Financial Performance - Total revenue increased by 11.5% to HKD 2,597 million for the six months ended June 30, 2024, compared to HKD 2,330 million in 2023[3] - Gross profit rose by 7.6% to HKD 780 million, up from HKD 725 million in the previous year[4] - Adjusted EBITDA increased by 2.9% to HKD 282 million, compared to HKD 274 million in 2023[3] - Net profit remained stable at HKD 185 million, slightly down from HKD 186 million in 2023, resulting in basic earnings per share of HKD 2.72[4] - Revenue for the six months ended June 30, 2024, was HKD 2,597 million, an increase of 11.5% from HKD 2,330 million in the same period of 2023[16] - The profit for the period was HKD 185,919,000, contributing to a total comprehensive income of HKD 184,159,000 after accounting for dividends paid[19] - The pre-tax profit for the six months ended June 30, 2024, was HKD 224,739,000, compared to HKD 223,314,000 for the same period in 2023, indicating a marginal growth[31] - The company reported a segment profit of HKD 341,971,000 for the six months ended June 30, 2024, compared to HKD 348,146,000 for the same period in 2023, showing a decrease of approximately 1.5%[31] Revenue Segmentation - Revenue from the jewelry segment surged by 77.4% to HKD 965 million, accounting for 37.2% of total revenue, compared to 23.3% in 2023[4] - Revenue from external sales in Hong Kong was HKD 1,456,042,000, while sales in China amounted to HKD 665,038,000[27] Dividends and Equity - The board declared an interim dividend of HKD 0.65 per share, down from HKD 0.76 per share in 2023[4] - The board declared an interim dividend of HKD 0.65 per share for 2024, down from HKD 0.76 per share in 2023, amounting to HKD 44,066,000 compared to HKD 51,524,000 in the previous year[37] - The total equity of the group increased to HKD 5,187 million as of June 30, 2024, from HKD 5,047 million as of December 31, 2023[18] - The company’s total equity as of June 30, 2024, was HKD 5,186,911,000, an increase from HKD 4,987,185,000 at the beginning of the year[19] Cash Flow and Financial Position - As of June 30, 2024, the group's bank balance and cash on hand increased to HKD 733 million, up from HKD 620 million as of December 31, 2023[13] - The group maintained a net cash position with a net debt ratio of zero as of June 30, 2024[13] - The company’s cash and cash equivalents at the end of the period increased to HKD 688,720,000, compared to HKD 455,338,000 at the end of the previous year[20] - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 321,790,000, a decrease from HKD 368,996,000 in the same period last year[20] - The company reported a decrease in cash flow from investing activities, with a net cash used of HKD 92,894,000 compared to HKD 217,772,000 in the prior year[20] Costs and Expenses - Total employee costs for the period amounted to HKD 185 million, an increase from HKD 161 million in 2023[15] - Employee costs, including director remuneration, totaled HKD 184,969,000 for the six months ended June 30, 2024, compared to HKD 160,690,000 in 2023, reflecting an increase of about 15.1%[33] - The cost of sales for the six months ended June 30, 2024, was HKD 1,812,224,000, an increase from HKD 1,599,267,000 in 2023, representing a rise of approximately 13.3%[32] - The company incurred financing costs of HKD 3,842,000 for the six months ended June 30, 2024, compared to HKD 12,258,000 in the previous period, indicating a significant reduction[31] - The company incurred interest expenses of HKD 2,482,000 for the six months ended June 30, 2024, significantly higher than HKD 993,000 in the previous period, indicating increased borrowing costs[45] Assets and Liabilities - The group's current assets and current liabilities were approximately HKD 3,981 million and HKD 526 million, respectively, resulting in a current ratio of 7.6, compared to 7.3 as of December 31, 2023[14] - Total liabilities as of June 30, 2024, were HKD 175,040,000, a decrease of 35% from HKD 269,059,000 as of December 31, 2023[42] - The company reported a decrease in accrued bonuses from HKD 23,601,000 as of December 31, 2023, to HKD 12,750,000 as of June 30, 2024, reflecting a reduction of 46%[42] - The aging analysis of trade receivables shows that 30 days overdue receivables were HKD 41,962,000, down from HKD 73,036,000 in the previous period, indicating a significant reduction in short-term receivables[41] Strategic Initiatives - The company plans to enhance its e-commerce business by leveraging online shopping platforms to capture the potential of internet and mobile users[10] - New jewelry collections have been launched to cater to the preferences of millennials and Generation Z, focusing on customization and diversity[9] - The company aims to strengthen its market position in the wedding jewelry sector by expanding product diversity and enhancing brand exposure through wedding events[9] - The group plans to enhance brand promotion and customer relationship management to increase brand exposure in the Chinese and Southeast Asian markets[12] Corporate Governance - The company has complied with all corporate governance codes as per the listing rules during the reporting period[56] - The interim financial statements for the period were reviewed by the company's audit committee, consisting of three independent non-executive directors[57] - The company has not disclosed any unannounced price-sensitive information violations by relevant employees during the reporting period[56] Shareholder Information - As of June 30, 2024, Ms. Yang Nuo Si holds 4,298,630,000 shares, representing 63.41% of the voting shares of the company[48] - Ms. Yang Nuo Si also has significant holdings in affiliated companies, including 2,747,611,223 shares (74.71%) in Emperor International Holdings Limited and 851,353,645 shares (71.63%) in Emperor Entertainment Hotel Limited[50] - Brandes Investment Partners, L.P. holds 339,017,288 shares, accounting for 5.00% of the voting shares[53] - There were no changes in the interests of directors or senior management in the company or its affiliates as of June 30, 2024, apart from those disclosed[51] Related Party Transactions - Related party transactions included sales of goods to directors and their close relatives amounting to HKD 1,326,000 for the six months ended June 30, 2024, compared to HKD 1,277,000 in the same period of 2023[45] - The total amount of deposits paid to related companies decreased from HKD 16,679,000 as of December 31, 2023, to HKD 13,991,000 as of June 30, 2024, a reduction of 16.3%[47] - The company has recognized lease liabilities related to transactions with related companies amounting to HKD 88,325,000 as of June 30, 2024, up from HKD 53,213,000 as of December 31, 2023, reflecting a 66% increase[47] Miscellaneous - The company has not granted any stock options under its stock option plan since its adoption on May 23, 2018, with an authorized limit of 687,308,812 options available for grant[56] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the reporting period[57]

Financial Performance - Total revenue increased by 11.5% to HKD 2,597 million for the six months ended June 30, 2024, compared to HKD 2,330 million in 2023[2] - Gross profit rose by 7.6% to HKD 780 million, while net profit remained stable at HKD 185 million, down 0.5% from HKD 186 million in 2023[3] - Adjusted EBITDA increased by 2.9% to HKD 282 million, reflecting the company's core operational performance[2] - The group reported a revenue of HKD 2,597 million for the six months ended June 30, 2024, compared to HKD 2,330 million for the same period in 2023, representing an increase of approximately 11.5%[14] - The gross profit for the same period was HKD 780 million, up from HKD 725 million in 2023, indicating a growth of about 7.6%[14] - The company reported a pre-tax profit of HKD 224,739,000 for the six months ended June 30, 2024, compared to HKD 223,314,000 for the same period in 2023, reflecting a slight increase of about 0.6%[27] - The company reported a basic earnings per share of HKD 0.0272 for the six months ended June 30, 2024, compared to HKD 0.0274 for the same period in 2023, reflecting a slight decrease in profitability[31] Sales and Market Performance - Jewelry sales surged by 77.4% to HKD 965 million, accounting for 37.2% of total revenue, compared to 23.3% in 2023[3] - The total external sales from Hong Kong amounted to HKD 1,456,042,000, while sales from China and other Asia-Pacific regions were HKD 665,038,000 and HKD 307,638,000, respectively[24] - The segment profit for Hong Kong was HKD 137,223,000, while Macau and China reported segment profits of HKD 28,923,000 and HKD 119,146,000, respectively, contributing to a total segment profit of HKD 341,971,000[25] Store Operations and Expansion - The company operates a total of 90 stores across Hong Kong, Macau, mainland China, Singapore, and Malaysia as of June 30, 2024[4] - Over 75% of the stores in mainland China are located in first-tier and new first-tier cities, aligning with the company's target customer base[5] - The company plans to continue expanding its market presence in Hong Kong, Macau, and China, focusing on retail sales of watches and jewelry[22] Product Development and Marketing - The company launched new jewelry collections aimed at millennials and Generation Z, enhancing its product diversity and personalization in the wedding jewelry market[7] - The company aims to enhance brand recognition and value to increase market share in the wedding market and strengthen customer relationships[7] - The group plans to enhance brand promotion and customer relationship management to increase brand exposure and capture market opportunities in China and Southeast Asia[9] Financial Position and Liquidity - As of June 30, 2024, the group's bank balance and cash on hand increased to HKD 733 million, up from HKD 620 million on December 31, 2023[10] - The net cash position of the group was zero, with a net debt ratio of zero as of June 30, 2024, maintaining a strong financial position[10] - The current ratio improved to 7.6 from 7.3, and the quick ratio increased to 1.6 from 1.5, reflecting enhanced liquidity[10] - The company has approximately HKD 1,043 million in available but undrawn bank financing, providing additional financial flexibility[10] - The total equity of the group as of June 30, 2024, was HKD 5,187 million, an increase from HKD 5,047 million at the end of 2023, reflecting a solid capital structure[17] Employee and Operational Costs - The total employee cost for the period was HKD 185 million, an increase from HKD 161 million in 2023, indicating a rise in workforce expenses[11] - Employee costs, including director remuneration, totaled HKD 170,699,000 for the six months ended June 30, 2024, up from HKD 147,223,000 in the same period of 2023, representing an increase of approximately 15.9%[27] Dividend and Taxation - The board declared an interim dividend of HKD 0.65 per share, down from HKD 0.76 per share in 2023[3] - The total tax expense for the six months ended June 30, 2024, was HKD 38,606,000, slightly lower than HKD 38,820,000 for the same period in 2023[5] - The company has no tax provisions for Malaysia as its subsidiaries did not generate taxable profits during the periods[29] Inventory and Receivables Management - The company reported a significant inventory cost of HKD 1,135,000,000 included in the cost of sales for the six months ended June 30, 2024, compared to zero inventory write-downs in the same period of 2023[27] - Trade receivables decreased to HKD 43,199,000 as of June 30, 2024, from HKD 73,437,000 as of December 31, 2023, indicating improved collection efficiency[33] - Trade payables decreased significantly to HKD 59,629,000 as of June 30, 2024, from HKD 122,063,000 as of December 31, 2023, suggesting better cash management[37] Corporate Governance and Compliance - The company has adopted its own securities trading code for directors, which complies with the standards set out in the Listing Rules Appendix C3[40] - No purchases, sales, or redemptions of the company's listed securities were made by the company or any of its subsidiaries during the period[41] - The interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website, with the interim report to be issued at an appropriate time[42] - The board announced a change in the composition of the remuneration committee, effective October 1, 2024, with Ms. Fan Min Cheung appointed as a member[43] - The company secretary and authorized representative will change, with Ms. Zhong Hao Ying resigning and Ms. Feng Pei Ling appointed effective September 2, 2024[44]

Customer and Supplier Dynamics - The Group's sales to its five largest customers accounted for approximately 1.5% of total turnover in the Year, down from 2.6% in 2022[9] - The Group's five largest suppliers contributed approximately 86.8% of total purchases during the Year, a decrease from 93.2% in 2022[9] Market Expansion and Strategy - The Group plans to continue expanding its market presence in Hong Kong and mainland China, leveraging its brand reputation[39] - The Group anticipates benefiting from domestic consumption trends in China as the RMB continues to fluctuate[39] - Economists have lowered global growth forecasts, but the Group aims to leverage its brand reputation in China to expand in Hong Kong and mainland China markets[65] - The Group's strategy includes analyzing user data and internet behavior to formulate effective product strategies[63] - The Group aims to strengthen its brand presence through various online platforms in response to changing consumer behaviors due to the pandemic[173] Financial Performance and Position - The Group's financial performance analysis is detailed in the Five-year Financial Summary on page 152 of the annual report[2] - As of December 31, 2023, the Group's bank balances and cash on hand amounted to HK$619.6 million, a decrease from HK$664.4 million in 2022, with no bank borrowings reported[42] - The Group maintained a net cash position with a net gearing ratio of zero, consistent with the previous year[42] - The Group has unutilised banking facilities of approximately HK$1,043.6 million available[42] - As of December 31, 2023, the Group's current assets were approximately HK$3,859.1 million, an increase from HK$3,505.9 million in 2022, while current liabilities rose to HK$531.1 million from HK$433.5 million[183] - The current ratio decreased to 7.3 in 2023 from 8.1 in 2022, and the quick ratio fell to 1.5 from 1.9[183] Corporate Governance and Compliance - The Group has complied with relevant laws and regulations, as discussed in the 2023 Environmental, Social and Governance Report[2] - The independent auditor issued an unqualified conclusion regarding the Group's non-exempt connected transactions[38] - The company maintains a sufficient public float of at least 25% as required by listing rules[72] - The company has fully complied with all code provisions of the Corporate Governance Code during the year[93] - The Board consists of seven Directors, including four Executive Directors and three Independent Non-Executive Directors (INEDs)[81] - The company has adopted a Board Diversity Policy to ensure a balanced composition of skills and perspectives[104] - The Company aims to maintain a high level of corporate governance to ensure accountability and transparency for shareholders and stakeholders[118] - The Board has established mechanisms to ensure effective governance, which were reviewed and deemed effective during the year[129] Employee and Management Structure - The Group's employee remuneration is determined based on individual performance and market pay levels, including various competitive benefits[67] - The Company has a total workforce comprising 69% female and 31% male, with senior management including 70% female and 30% male[142] - The Board consists of 57% female directors, with a target of maintaining at least 25% female representation[158] - The Nomination Committee will continue to review the Board's composition to maintain diversity without proposing further enhancement targets at this time[112] - The management is responsible for shaping the corporate culture and strategic direction of the Group, focusing on employee engagement and compliance[97] - Independent Non-executive Directors (INEDs) have not served on the Board for more than 9 years, ensuring independence[124] Product Offerings and Collections - The "Auspicious Dragon and Phoenix" collection symbolizes harmony and includes various jewelry pieces, emphasizing craftsmanship and detail[86] - The "Spotlight" light luxury collection features 10 diamonds per piece, designed for both weddings and everyday wear[87] - The "CORE & ENCORE" collection draws inspiration from music and aims to resonate with current fashion trends, promoting casual luxury[88] - The Group's official website features a diverse range of luxury watch brands, including Patek Philippe, Rolex, Tudor, and Cartier, with plans for further collaborations[64] Market Conditions and Consumer Sentiment - The market faced disruptions in the second half of the year due to a global economic slowdown, with factors such as inflation and geopolitical tensions affecting consumer confidence[196] - Despite the challenges, consumption sentiment in the Hong Kong and Macau markets remained stable[196] - The total number of visitors to Hong Kong for the year was 34 million, approximately 61% of the 2019 levels, indicating a recovery in retail activities[195] - The Group's performance was positively impacted by the normalization of global outbound travel and the recovery of consumer demand in the first half of the year[195] Dividends and Financial Announcements - The final dividend declared is HK$0.56 per share, with the payment date set for June 20, 2024[189] - The annual results announcement was made on March 19, 2024, detailing the audited consolidated results for the year ended December 31, 2023[190] Strategic Initiatives - The Group has established a jewellery presence on multiple online shopping platforms, including HKTV Mall, Tmall, and jd.com, to enhance customer experience and expand revenue sources[63] - The Group launched multiple jewelry promotional events during the year to showcase products and enhance sales opportunities[174] - The Group plans to seek collaboration opportunities with other watch brands to expand its offerings[175] - The Company has implemented new strategies to navigate the volatile economic environment and maintain stable operations[196]

Financial Performance - The group's revenue for the year ended December 31, 2023, was HKD 4,823,223,000, representing a 30.8% increase from HKD 3,684,261,000 in 2022[9] - The gross profit for the same period was HKD 1,450,281,000, up 23.1% from HKD 1,177,262,000 in 2022[9] - The net profit for the year was HKD 299,219,000, an increase of 34.7% compared to HKD 222,125,000 in 2022[9] - Total revenue for the year increased by 30.9% to HKD 4,823,200,000, compared to HKD 3,684,300,000 in 2022[33] - Gross profit rose by 23.2% to HKD 1,450,300,000, up from HKD 1,177,300,000 in the previous year[34] - Net profit increased by 34.7% to HKD 299,200,000, compared to HKD 222,100,000 in 2022[34] - Basic earnings per share improved by 34.5% to HKD 4.41, up from HKD 3.28 in the prior year[34] - The adjusted EBITDA increased by 25.0% to HKD 470,000,000 from HKD 376,000,000 in 2022[36] Dividend Information - The company plans to pay a final dividend of HKD 0.56 per share, down from HKD 0.62 per share in 2022, pending shareholder approval[3] - The company declared a total dividend of HKD 93,557,000 for the year 2023, compared to HKD 42,033,000 for the previous year, reflecting a substantial increase[101] - The company proposed a final dividend of HKD 0.56 per share for 2023, down from HKD 0.62 per share in 2022, reflecting a decrease of 9.7%[116] Operational Expansion - The group has established a strategic sales network in prime locations in Hong Kong and mainland China, with over 80% of stores located in tier-one and new tier-one cities[11] - The company has expanded its e-commerce business by establishing jewelry operations on several online shopping platforms, including HKTV Mall, Tmall, and JD.com[14] - The company plans to continue expanding its retail network in Hong Kong and major cities in mainland China[26] - The company aims to leverage its brand reputation in China to expand its market presence in Hong Kong and mainland China amid uncertain economic conditions[15] Employee and Cost Information - The total employee cost for the year was HKD 340,000,000, an increase from HKD 262,900,000 in 2022, with a workforce of 1,008 employees[17] - The company reported a total employee cost of HKD 339,996,000 in 2023, up from HKD 262,910,000 in 2022, which is an increase of approximately 29.3%[96] Asset and Liability Overview - The group reported a cash balance of HKD 619,600,000 as of December 31, 2023, down from HKD 664,400,000 in 2022, with no bank borrowings[16] - Total non-current assets decreased slightly to HKD 1,849,216,000 in 2023 from HKD 1,875,927,000 in 2022, reflecting a decline of 1.4%[39] - Current assets increased significantly to HKD 3,859,148,000 in 2023, up 10.1% from HKD 3,505,902,000 in 2022[39] - Inventory levels rose sharply to HKD 3,060,276,000 in 2023, a 13.2% increase from HKD 2,703,418,000 in 2022[39] - The company's total equity increased to HKD 5,046,688,000 in 2023, up 4.2% from HKD 4,845,059,000 in 2022[39] - The company reported a significant increase in trade payables and accrued expenses, which rose to HKD 269,059,000 in 2023 from HKD 159,505,000 in 2022, marking a 68.8% increase[39] - Cash and cash equivalents slightly decreased to HKD 458,750,000 in 2023 from HKD 466,192,000 in 2022, a decline of 1.0%[39] Market and Economic Conditions - The total number of visitors to Hong Kong reached 34,000,000, approximately 61% of the 2019 levels, boosting retail activity[38] - The company will continue to monitor market trends and adjust strategies and product offerings to maintain stable business performance[15] Segment Performance - Revenue from Hong Kong and mainland China accounted for 52.0% and 28.5% of total revenue, respectively[33] - The segment profit for Hong Kong was HKD 232,908,000, while Macau and China reported segment profits of HKD 48,680,000 and HKD 210,017,000 respectively, contributing to a total segment profit of HKD 609,402,000[71] - Revenue from watch sales increased to HKD 3,465,488,000 in 2023, up from HKD 3,008,968,000 in 2022, representing a growth of approximately 15.2%[95] - Revenue from jewelry sales surged to HKD 1,342,848,000 in 2023, compared to HKD 666,618,000 in 2022, marking a significant increase of about 101.3%[95] Compliance and Governance - The company confirmed compliance with all corporate governance codes as per the listing rules during the year[128] - The audit committee, along with Deloitte, reviewed the consolidated financial statements for the year, ensuring they were prepared in accordance with applicable accounting standards[127]

Financial Performance - Total revenue increased by 41.6% to HKD 2,330 million for the six months ended June 30, 2023, compared to HKD 1,646 million in 2022[9] - Gross profit rose by 38.1% to HKD 725 million, up from HKD 525 million in the previous year[9] - Adjusted EBITDA surged by 77.9% to HKD 274 million, compared to HKD 154 million in 2022[6] - Net profit more than doubled, increasing by 116.3% to HKD 186 million, up from HKD 86 million in 2022[9] - Earnings per share increased to HKD 2.74, a rise of 115.7% from HKD 1.27 in the previous year[6] - The profit before tax for the period was HKD 224.7 million, significantly up from HKD 104.3 million in the previous year[30] - The total comprehensive income attributable to owners for the period was HKD 184.2 million, compared to HKD 68.0 million in 2022[30] - The company reported a pre-tax profit of HKD 224,739 for the six months ended June 30, 2023, compared to HKD 104,261 for the same period in 2022, indicating a growth of approximately 115.0%[57] - The company's profit before tax for the six months ended June 30, 2023, was HKD 185,919,000, compared to HKD 85,932,000 for the same period in 2022, representing a growth of 116.5%[76] Revenue Breakdown - Revenue from mainland China grew by 64.8% to HKD 712 million, while Hong Kong revenue increased by 49.7% to HKD 1,153 million[9] - The jewelry segment saw sales increase by 86.3% to HKD 544 million, while watch sales rose by 31.9% to HKD 1,786 million[9] - The revenue breakdown shows that sales from Hong Kong amounted to HKD 1,220,007, while sales from China reached HKD 712,064, marking substantial contributions from both regions[57] Store Expansion and Market Presence - The number of stores expanded to 91 across Hong Kong, Macau, mainland China, Singapore, and Malaysia, with a focus on prime retail locations[12] - The company plans to continue expanding its market presence in the Asia-Pacific region, particularly in Hong Kong and China, to leverage growth opportunities[57] - The retail network spans Hong Kong, Macau, mainland China, Singapore, and Malaysia, with a focus on expanding business outside Greater China[96] Financial Position - As of June 30, 2023, the group's bank balance and cash on hand increased to HKD 843 million, up from HKD 664 million as of December 31, 2022[24] - The group reported a net cash position with a net debt ratio of zero, consistent with December 31, 2022[24] - Current assets and current liabilities were approximately HKD 3,696 million and HKD 445 million, respectively, resulting in a current ratio of 8.3 and a quick ratio of 2.2[24] - The company's total equity increased to HKD 4,987.2 million from HKD 4,845.1 million at the end of 2022[34] - The company’s total assets decreased from HKD 214,782,000 at the end of 2022 to HKD 191,580,000 as of June 30, 2023, a decline of 10.8%[78] - The company’s total liabilities increased from HKD 159,505,000 at the end of 2022 to HKD 165,369,000 as of June 30, 2023, an increase of 3.4%[83] Employee Costs and Dividends - Total employee costs for the period were approximately HKD 161 million, an increase from HKD 128 million in 2022[25] - The board declared an interim dividend of HKD 0.76 per share, totaling approximately HKD 51.5 million, compared to HKD 25.8 million in 2022[28] - The company declared an interim dividend of HKD 0.76 per share for 2023, up from HKD 0.38 per share in 2022, amounting to HKD 51,524,000 compared to HKD 25,762,000 in the previous year[74] Economic Outlook and Management Strategy - The management remains cautious about potential economic challenges, including interest rate hikes and inflation, while focusing on maintaining operational efficiency and profitability[20] - The company plans to enhance its online business and has established a presence on multiple e-commerce platforms to capture internet and mobile user potential[18] Corporate Governance and Compliance - The company has adhered to all corporate governance codes as outlined in the listing rules during the reporting period[104] - The company’s independent non-executive directors reviewed the interim financial report, ensuring compliance with corporate governance standards[119] Related Party Transactions - The company reported sales to directors and related parties of HKD 1,277,000 for the six months ended June 30, 2023, down 44.9% from HKD 2,318,000 in the same period of 2022[125] - The company incurred service fees of HKD 8,430,000 to related companies, an increase of 36.3% compared to HKD 6,185,000 in the previous year[125] - The company paid HKD 2,453,000 in variable lease payments to related companies, an increase of 88.2% from HKD 1,303,000 in the previous year[125] - The company has deposits paid to related companies amounting to HKD 17,463,000 as of June 30, 2023, up from HKD 17,009,000 as of December 31, 2022[127] Asset Management - Non-current assets as of June 30, 2023, were valued at HKD 1,812.3 million, down from HKD 1,875.9 million as of December 31, 2022[32] - Trade receivables as of June 30, 2023, were HKD 43,049,000, down from HKD 52,393,000 at the end of 2022, indicating a decrease of 17.8%[81] - Trade payables increased to HKD 71,729,000 as of June 30, 2023, compared to HKD 51,362,000 at the end of 2022, marking an increase of 39.5%[83] - The company has capital commitments for property, machinery, and equipment amounting to HKD 9,681,000 as of June 30, 2023, compared to HKD 6,922,000 as of December 31, 2022, reflecting a 39.5% increase[87] Product Development and Marketing - The company actively participates in promotional activities with major brands to enhance product visibility and customer engagement[94] - The new product line "The Spotlight" features a light luxury pendant designed for modern weddings, showcasing ten diamonds[98]

Financial Performance - Total revenue increased by 41.6% to HKD 2,330 million, up from HKD 1,646 million in 2022[4] - Gross profit rose by 38.1% to HKD 725 million, compared to HKD 525 million in 2022[4] - Net profit increased by 116.3% to HKD 186 million, up from HKD 86 million in 2022[19] - Basic earnings per share rose by 115.7% to HKD 2.74, compared to HKD 1.27 in 2022[19] - The profit before tax increased to HKD 224,739,000, compared to HKD 104,261,000 in the previous year, reflecting a growth of 115.0%[56] - The net profit for the period was HKD 185,919,000, which is a significant increase of 116.5% from HKD 85,932,000 in 2022[56] - The company reported a basic earnings attributable to shareholders of HKD 185,919,000 for the six months ended June 30, 2023, compared to HKD 85,932,000 for the same period in 2022, representing an increase of 116%[98] Revenue Breakdown - Jewelry segment sales surged by 86.3% to HKD 544 million, while watch segment sales grew by 31.9% to HKD 1,786 million[4] - Revenue from mainland China and Hong Kong increased by 64.8% and 49.7%, reaching HKD 712 million and HKD 1,153 million respectively, accounting for 30.6% and 49.5% of total revenue[21] Cash and Assets - Cash and cash equivalents increased to HKD 843 million, up from HKD 664 million as of December 31, 2022[4] - The group maintains a net cash position with bank balances and cash increasing to HKD 843 million, and no bank borrowings as of June 30, 2023[29] - Current assets increased to HKD 3,696,014,000 from HKD 3,505,902,000, showing a growth of 5.4%[57] - Non-current assets as of June 30, 2023, were valued at HKD 1,812,290,000, a slight decrease from HKD 1,875,927,000 at the end of 2022[57] - The total equity of the company rose to HKD 4,987,185,000 from HKD 4,845,059,000, indicating a positive trend in shareholder value[58] Store Expansion and Market Presence - The group opened one jewelry store in Hong Kong and two in mainland China during the period[7] - The group plans to continue expanding its presence in key markets, particularly in Hong Kong and mainland China[10] - The group has a total of 91 retail stores across Hong Kong, Macau, mainland China, Singapore, and Malaysia, with approximately 75% of stores located in tier-one and new tier-one cities in mainland China[22] Online and E-commerce Strategy - The online shopping platform for jewelry and watches has been strengthened, with a focus on expanding e-commerce operations[10] - The group is leveraging online shopping platforms to expand its jewelry business and enhance customer experience[26] Employee and Operational Costs - Total employee costs for the period amounted to HKD 161 million, with an increase in sales personnel from 633 to 715[30] Dividends - The board declared an interim dividend of HKD 0.76 per share, up from HKD 0.38 per share in the previous year[21] - The interim dividend declared is HKD 0.76 per share for the fiscal year ending December 31, 2023, up from HKD 0.38 per share in 2022, totaling HKD 51,524,000 compared to HKD 25,762,000 in the previous year[77] Financial Challenges and Caution - The group is cautious about expansion due to potential economic challenges, including interest rate hikes and inflation, and aims to maintain operational efficiency[28] Compliance and Governance - The company maintained compliance with all corporate governance codes as per the listing rules during the reporting period[86] - The interim financial statements have been reviewed by the company's audit committee, consisting of three independent non-executive directors[105] - There were no known violations of the standard code of conduct by employees who may possess price-sensitive information during the reporting period[106]