Company Performance and Strategy - The company reported a strong performance with a focus on customer experience and innovation, emphasizing its commitment to sustainable development [4]. - The company has received numerous awards for brand management, product design, and e-commerce platforms, highlighting its market leadership and commitment to quality [6]. - Despite the challenges, the company managed to reduce losses by nearly 50% compared to the previous year, reflecting effective management strategies [17]. - The company is focused on providing high-value solutions and after-sales services to meet evolving consumer demands, positioning itself for sustainable growth [20]. - The company remains cautiously optimistic about the economic outlook for the coming year, focusing on strict cost control and enhancing resilience and flexibility to seize market share expansion opportunities [25]. Retail Segment Performance - The retail segment, Pricerite, has successfully integrated online and offline resources, enhancing the omnichannel retail model and improving customer shopping experiences [5]. - The retail sector in Hong Kong faced a significant challenge, with retail sales dropping by 7.3% compared to last year, and furniture retail sales decreasing by 14.4% [17]. - The retail segment has been recognized with multiple awards, including the "Hong Kong Brand Development Council's Ten-Year Achievement Award" and "Outstanding Service Award" from the Hong Kong Retail Management Association [6]. - The retail sector faced significant challenges, with total retail sales in Hong Kong expected to decline by approximately 7.3% in value and 9.0% in volume for 2024, despite a 31.0% year-on-year increase in visitor numbers to about 44.5 million [28]. - The company expanded its "Lengthen and Shorten" furniture modification service, which is the most comprehensive among local retailers [47]. Financial Services and Investment Management - The financial services segment, Times Financial, has established wealth management centers in Hong Kong, Shanghai, Shenzhen, and Qingdao, with plans for further expansion in key economic regions [10]. - Times Financial has been a pioneer in fintech, launching the advanced mobile trading app Alpha i to enhance user experience and service quality [11]. - The company holds multiple licenses from the Securities and Futures Commission, including Type 1, 2, 4, and 9 licenses, ensuring comprehensive financial and wealth management services [9]. - The company aims to combine traditional finance with new financial assets to provide a comprehensive wealth management service [11]. - The company’s investment management business achieved revenue of HKD 6.9 million and a net profit of HKD 10.4 million for the year ending December 31, 2024, compared to revenue of HKD 4.7 million and a net profit of HKD 3.8 million in 2023, reflecting a strong performance amid market volatility [31]. Economic and Market Conditions - In 2024, Hong Kong's GDP growth rate is expected to slow down to 2.5%, down from 3.2% in 2023, with private consumption declining by 0.6% year-on-year [16]. - The company is closely monitoring trade barriers and tariff restrictions that may impact logistics, ensuring agility in response to challenges [21]. - The ongoing "home economy" trend is driving demand for furniture and home products as consumers prioritize enhancing their living environments over luxury purchases [20]. - The government plans to deliver 190,000 new residential units over the next five years, which is expected to create growth opportunities for the furniture and home improvement industry [20]. - The company is enhancing its business layout in the Greater Bay Area by improving logistics and procurement facilities, aiming to shorten delivery times and increase efficiency [18]. Environmental, Social, and Governance (ESG) Initiatives - The company actively engages in environmental protection initiatives, receiving recognition for its contributions to sustainability [7]. - The company is committed to sustainable development and has implemented various environmental, social, and governance initiatives during the fiscal year ending December 31, 2024 [168]. - The total greenhouse gas emissions decreased by approximately 11% during the reporting period, primarily due to the closure of three retail stores, which reduced electricity consumption [180]. - The company aims to reduce total greenhouse gas emissions intensity by 25% by 2025 compared to the baseline year of 2021 [180]. - The company has implemented energy-saving measures to address the primary source of greenhouse gas emissions, which comes from purchased electricity [180]. Corporate Governance and Board Structure - The company has adopted various policies to ensure compliance with the corporate governance code, fully adhering to the code provisions for the year ending December 31, 2024, with some exceptions noted [94]. - The board consists of five executive directors and three independent non-executive directors, ensuring over one-third of the board members are independent [99]. - The independent non-executive directors are required to confirm their independence annually and disclose any potential conflicts of interest [102]. - The board has established a risk management and internal control system to identify, assess, manage, and report significant risks, including strategic, operational, compliance, reporting, information technology, and environmental, social, and governance risks [145]. - The company emphasizes the importance of stakeholder engagement in assessing and prioritizing significant environmental, social, and governance issues [169].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 883,657,000, a decrease of 13.1% compared to HKD 1,016,423,000 in 2023[3] - The net loss for the year was HKD 63,782,000, significantly improved from a net loss of HKD 142,925,000 in the previous year, representing a reduction of 55.5%[3] - Basic and diluted loss per share for the year was HKD 72.18, down from HKD 133.81 in 2023, indicating a 46.0% improvement[4] - Total comprehensive loss for the year was HKD 68,445,000, compared to HKD 143,189,000 in 2023, reflecting a decrease of 52.2%[4] - The company reported a pre-tax loss of HKD 65,596,000 for the year ended December 31, 2024, compared to a pre-tax loss of HKD 138,669,000 in 2023, indicating an improvement in overall financial performance[16] - The group reported a net loss attributable to shareholders of HKD 58.3 million in 2024, a 46.0% improvement from a loss of HKD 108.0 million in 2023[54] Revenue Breakdown - Retail segment revenue decreased to HKD 831,022,000 in 2024 from HKD 958,503,000 in 2023, representing a decline of 13.3%[16] - The investment management segment reported revenue of HKD 6,926,000, up from HKD 4,733,000 in the previous year, marking a growth of 46.3%[16] - The geographical revenue breakdown shows that Hong Kong contributed HKD 878,623,000 in 2024, down from HKD 1,011,690,000 in 2023, a decline of 12.9%[13] - Total revenue from major products and services decreased from HKD 1,016,423,000 in 2023 to HKD 883,657,000 in 2024, representing a decline of approximately 13.1%[21] - Retail segment's revenue from furniture and home goods was HKD 769,831,000 in 2024, down from HKD 854,538,000 in 2023, a decrease of about 9.9%[21] Assets and Liabilities - Non-current assets decreased to HKD 204,138,000 from HKD 286,339,000, a decline of 28.7% year-over-year[5] - Current assets totaled HKD 827,539,000, down from HKD 1,031,318,000, representing a decrease of 19.7%[5] - The total assets of the group as of December 31, 2024, were HKD 1,031,677,000, down from HKD 1,317,657,000 in 2023, indicating a decrease of 21.7%[18][19] - The total liabilities decreased to HKD 935,547,000 in 2024 from HKD 1,148,677,000 in 2023, a reduction of 18.6%[18][19] - Total equity attributable to owners of the company decreased to HKD 53,036,000 from HKD 115,965,000, a decline of 54.3%[6] Operating Expenses - The company reported a significant reduction in operating expenses, with salaries and related benefits decreasing to HKD 179,236,000 from HKD 194,992,000, a decrease of 8.1%[3] - The company's total operating, administrative, and selling expenses decreased from HKD 217,342,000 in 2023 to HKD 207,903,000 in 2024, a reduction of approximately 4.9%[23] Market and Strategic Initiatives - The company has not announced any new products or technologies, nor any market expansion or acquisition strategies during this reporting period[3] - The company aims to enhance sales and gross margins through targeted marketing, strategic store management, and cost control measures in response to the challenging retail environment[40] - The company plans to increase investments in its online and offline integrated business model and digital transformation initiatives to enhance operational efficiency and customer engagement[62] Employee and Governance - The group employed 502 employees as of December 31, 2024, with total employee wage costs amounting to approximately HKD 179,200,000[77] - The company has implemented various training programs aimed at enhancing employee skills and overall competitiveness, including product knowledge, customer service, and regulatory training[79] - The company has adhered to all corporate governance codes during the fiscal year ending December 31, 2024, with regular reviews and improvements planned[81] Investment Management - Investment management business recorded revenue of HKD 6,900,000 and net profit of HKD 10,400,000 for the year ending December 31, 2024, compared to revenue of HKD 4,700,000 and net profit of HKD 3,800,000 in 2023, reflecting a significant improvement[42] - The company achieved a remarkable return of 19.50% for the CASH Multi Strategy Fund in 2024, demonstrating consistent performance across various market conditions[64] - The CTA fund recorded an impressive return of 24.95% in 2024, capitalizing on opportunities in the volatile metals market[65] Challenges and Outlook - The retail sector in Hong Kong faced significant challenges, with total retail sales expected to decline approximately 7.3% in value and 9.0% in volume in 2024[39] - The furniture retail market faced a 14.4% decline in sales due to a sluggish residential property market[55] - 71% of fund managers anticipate stagflation in the global economy over the next 12 months, highlighting ongoing economic challenges[75]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 CELESTIAL ASIA SECURITIES HOLDINGS LIMITED 時富投資集團有限公司 * （於 百慕達註冊成立之有限公司） （股份編號：1049） 中期業績 截至二零二四年六月三十日止六個月 簡明綜合損益及其他全面收益表 Celestial Asia Securities Holdings Limited（時富投資集團有限公司）（「本公司」或「時富投資」）及其附屬公司 （「本集團」）截至二零二四年六月三十日止六個月之未經審核綜合業績，連同去年同期之比較數字如下： | --- | --- | --- | --- | |-----------------------------------|-------|----------------------------------------------|-------------------| | | 附註 | 截至六月三十日 ...

Financial Performance - The company reported a comprehensive income of HKD 1.2 billion for the fiscal year, representing a 15% increase compared to the previous year[4]. - The company reported a revenue of HKD 1,016,400,000 and a net loss attributable to shareholders of HKD 108,000,000 for the year ending December 31, 2023, compared to a revenue of HKD 1,210,900,000 and a net loss of HKD 33,600,000 in 2022, indicating a significant increase in losses[32]. - Total revenue decreased by 16.1% to HKD 1,016.4 million in 2023 from HKD 1,210.8 million in 2022[51]. - The group recorded revenue of HKD 958,500,000 for the year ending December 31, 2023, down from HKD 1,199,300,000 in 2022, with a segment loss of HKD 19,300,000 compared to a loss of HKD 13,000,000 in the previous year[34]. - The group reported a loss attributable to shareholders of HKD 108.0 million, a 221.4% increase compared to a loss of HKD 33.6 million in 2022[52]. User Growth and Market Expansion - User data showed a 20% growth in active users on the digital platform, reaching 500,000 users by the end of the year[12]. - The company expects revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[9]. - The company is preparing for the launch of Cross-Border Wealth Management Connect 2.0 in early 2024, leveraging over 50 years of reputation and a strong business foundation to expand in the Greater Bay Area[26]. - The Greater Bay Area has a population exceeding 86 million, accounting for 20% of China's ultra-high-net-worth and high-net-worth families, creating significant opportunities for wealth management services[26]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[99]. Product Development and Innovation - A new product line in eco-friendly home goods is set to launch, aiming to capture the growing demand for sustainable products[7]. - The company launched approximately 20% new products this year to maintain product relevance and enhance production efficiency and profit margins[60]. - The company is leveraging cutting-edge technologies, including generative AI, to enhance product offerings and strengthen risk management processes[73]. - The company plans to upgrade its home consultant service to provide personalized furniture and diverse affordable home products, addressing customer pain points in the personalized furniture market[67]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative financial technology solutions[99]. Customer Experience and Engagement - The company is focusing on enhancing customer experience through the application of generative AI and big data analytics[22]. - The company achieved over a 20% increase in conversion rates due to improvements in online search capabilities and the integration of artificial intelligence across various online channels[62]. - The company is adapting to changing consumer expectations by implementing robust digital transformation strategies and focusing on personalized interactions to cultivate customer loyalty[66]. - The company is actively engaging with clients through various online and offline events, enhancing customer relationships[84]. - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of recent service enhancements[99]. Corporate Strategy and Governance - The management team emphasized a commitment to corporate social responsibility, with initiatives aimed at reducing environmental impact[7]. - The company has fully complied with the corporate governance code as of December 31, 2023, with some exceptions noted for ongoing improvements[120]. - The company has established a risk management and internal control system to protect assets and ensure compliance with applicable laws and regulations[170]. - The board is responsible for corporate governance functions, including reviewing compliance with regulations and monitoring the training of directors and senior management[158]. - The company has a structured approach to reporting its ESG data, ensuring consistency and comparability with past performance[197]. Financial Services and Investments - The investment management business generated revenue of HKD 4,700,000 and a net profit of HKD 3,800,000 for the year ending December 31, 2023, compared to revenue of HKD 4,400,000 and a net profit of HKD 13,800,000 in 2022[35]. - Other financial services recorded revenue of HKD 53,200,000 with a segment loss of HKD 95,900,000 for the year ending December 31, 2023, compared to revenue of approximately HKD 7,100,000 and a segment loss of HKD 7,800,000 in the previous period[38]. - The proprietary trading portfolio achieved double-digit returns, benefiting from volatility in the energy and precious metals sectors, despite a slight decline in asset management scale due to overall low sentiment towards CTA funds[71]. - The newly launched CASH Multi Strategy Fund employs a market-neutral strategy focused on statistical arbitrage, aiming to minimize volatility and enhance risk-adjusted returns, significantly outperforming peers[71]. - The company is strategically collaborating with domestic and international financial institutions and fintech companies to explore the vast potential of the Greater Bay Area market[27]. Cost Management and Operational Efficiency - The company implemented a cost structure review to ensure streamlined and sustainable operations, including warehouse relocation and site selection in mainland China[21]. - The company plans to implement cost-cutting measures aimed at improving operational efficiency, targeting a 5% reduction in overhead costs[99]. - The group has implemented a cost-leading strategy and streamlined its physical store network to adapt to changing consumer behaviors[56]. - The company is focused on cost control and stimulating sales momentum while providing quality home solutions, particularly in urban housing contexts[66]. - The group recorded additional impairment provisions of approximately HKD 43,300,000 during the year, compared to HKD 7,500,000 in 2022, primarily due to declines in the market value of pledged securities[39]. Awards and Recognition - The company received multiple awards for excellence in brand management and customer service, reinforcing its market position[6]. - The company received the "Annual Excellence Family Office Award" and "Hall of Fame Award" from CORPHUB, recognizing its outstanding customer service[85]. Employee and Board Management - The total employee wage cost for the group was approximately HKD 195,000,000 for the year[92]. - The group employed 611 employees as of December 31, 2023[92]. - The management team has extensive experience in investment management, wealth management, and financial services, with over 30 years in the industry[110]. - The company is committed to employee development and maintaining a safe and healthy work environment to attract and retain top talent[123]. - The board consists of four executive directors and three independent non-executive directors, ensuring over one-third of the board members are independent[125].

Financial Performance - For the year ended December 31, 2023, the total revenue was HKD 1,016,423,000, a decrease of 16.0% compared to HKD 1,210,887,000 in 2022[3] - The cost of goods sold was HKD 553,580,000, down from HKD 691,433,000, reflecting a reduction of 20.0%[3] - The net loss for the year was HKD 142,925,000, compared to a loss of HKD 35,249,000 in the previous year, indicating an increase in losses of 304.5%[3] - Basic and diluted loss per share was HKD 133.81, compared to HKD 41.68 in 2022, representing an increase of 220.0%[4] - The group reported a pre-tax loss of HKD 138,669 for the year ended December 31, 2023, compared to a pre-tax loss of HKD 44,735 in 2022[17] - The group reported a net loss attributable to shareholders of HKD 108,009 thousand in 2023, compared to a loss of HKD 33,641 thousand in 2022, indicating a significant increase in losses[29] Assets and Liabilities - Total assets decreased to HKD 1,318,657,000 from HKD 1,786,542,000, a decline of 26.2%[6] - Current liabilities decreased to HKD 1,077,809,000 from HKD 1,420,382,000, a reduction of 24.1%[6] - Non-current assets decreased to HKD 286,339,000 from HKD 391,903,000, a decline of 26.9%[6] - Total assets as of December 31, 2023, amounted to HKD 1,317,657, a decrease from HKD 1,786,542 in 2022[19] - Total liabilities increased to HKD 1,148,677 in 2023 from HKD 1,495,268 in 2022, indicating a reduction of 23.2%[21] - The company's equity attributable to owners decreased to HKD 115,965,000 from HKD 196,094,000, a decrease of 40.8%[7] Revenue Segments - Retail segment revenue decreased to HKD 958,503 in 2023 from HKD 1,199,307 in 2022, representing a decline of 20.1%[14] - The investment management segment generated revenue of HKD 4,733, up from HKD 4,334 in 2022, reflecting an increase of 9.2%[14] - The brokerage and wealth management services segment saw revenue rise significantly to HKD 23,921 from HKD 2,568, marking an increase of 831.5%[14] - The retail division reported a loss of HKD 19,291, while the investment management division earned a profit of HKD 3,751[17] - For the year ended December 31, 2023, the group's other financial services business recorded revenue of HKD 53,200,000 and a segment loss of HKD 95,900,000, compared to revenue of approximately HKD 7,100,000 and a segment loss of HKD 7,800,000 in the previous period[46] Operational Changes - The company closed underperforming stores, reducing the number from 28 in January 2022 to 18 by December 2023, while maintaining operations at well-performing stores[42] - The company plans to continue focusing on resource allocation and performance evaluation across its operational segments[18] - The company plans to balance its capital structure through the issuance of new shares and debt or the redemption of existing debt[38] - The company closed or relocated underperforming stores, ending the year with a total of 18 physical stores, which were transformed into immersive experience venues[65] Market and Economic Conditions - Hong Kong's economy experienced a slight recovery in 2023, with real economic growth of 3.2%, while local retail sales increased by 16.2%, driven mainly by the luxury goods sector[61] - The average daily trading volume in the Hong Kong stock market dropped to HKD 105 billion in 2023, down from HKD 124.9 billion in 2022 and HKD 166.7 billion in 2021, reflecting a challenging market environment[81] - The Hang Seng Index and the Hang Seng China Enterprises Index fell by 13.8% and 14.0% respectively in 2023, marking one of the worst years in recent history for the Hong Kong stock market[81] Strategic Initiatives - The company is focusing on a customer-centric strategy to adapt to changing consumer behaviors and economic conditions, emphasizing value-for-money products[66] - The introduction of the "P-coin" loyalty program aims to enhance customer loyalty and gather insights on customer behavior and preferences[70] - The company plans to expand its service offerings by upgrading its home consultant service to interior design consultants, providing personalized furniture and diverse affordable home products to meet customer needs[74] - The company launched the CASH Multi Strategy Fund in December 2023, which employs a market-neutral strategy to minimize volatility and enhance overall risk-adjusted returns[78] Employee and Governance - The group employed 611 employees as of December 31, 2023, with total employee compensation costs amounting to approximately HKD 195,000,000[96] - The board of directors has confirmed compliance with the standard code of conduct for securities trading throughout the fiscal year ending December 31, 2023[99] - The company has adhered to all corporate governance codes, with some deviations noted regarding the roles of the chairman and CEO[101] Financial Reporting and Compliance - The company has implemented new Hong Kong Financial Reporting Standards, which may impact future financial reporting[11] - Deloitte has reviewed the consolidated financial statements for the fiscal year ending December 31, 2023, confirming consistency with the amounts approved by the board[104] - The company did not recommend a final dividend for the year ending December 31, 2023, compared to no dividend in 2022[39] Technology and Innovation - The company is focused on developing AI solutions to enhance its fintech business and provide superior investment and wealth management services[95] - Significant progress was made in automating procurement and payment processes, contributing to the company's digital transformation efforts[71] - The company continues to leverage advanced algorithms and machine learning technologies in AI to analyze financial data and predict market behavior[95]

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 508,756,000, a decrease of 19.4% compared to HKD 631,561,000 in the same period of 2022[6] - The company reported a loss of HKD 59,564,000 for the period, compared to a profit of HKD 4,228,000 in the previous year, indicating a significant decline in profitability[6] - Basic and diluted loss per share was HKD 62.0, compared to earnings of HKD 5.1 per share in the same period last year[7] - For the six months ended June 30, 2023, the group recorded revenue of HKD 508.8 million and a net loss of HKD 59.6 million, compared to revenue of HKD 631.6 million and a net profit of HKD 4.3 million for the same period in 2022[51] - The company incurred a loss before tax of HKD 59.542 million, compared to a profit before tax of HKD 4.252 million in the previous year[23] - The total comprehensive income for the period was HKD 4.095 million, compared to HKD 4.170 million in the same period last year[13] Revenue Breakdown - Retail segment revenue decreased to HKD 476.315 million from HKD 628.223 million, representing a decline of 24.2% year-over-year[23] - The asset management segment generated revenue of HKD 2.593 million, down from HKD 3.338 million in the previous year[23] - Other financial services contributed HKD 29.848 million in revenue, with no revenue reported in the same segment last year[20] Assets and Liabilities - Total assets decreased to HKD 1,160,575,000 as of June 30, 2023, from HKD 1,394,639,000 at the end of 2022, a decline of 16.8%[9] - Current liabilities were HKD 1,212,963,000, down from HKD 1,420,382,000, representing a decrease of 14.6%[10] - The company's equity attributable to owners decreased to HKD 186,180,000 from HKD 196,094,000, a reduction of 5.0%[10] - Cash and cash equivalents at the end of the period were HKD 225.738 million, a decrease from HKD 334.411 million at the beginning of the period[14] - Cash and bank balances totaled HKD 678.1 million as of June 30, 2023, a decrease from HKD 870.8 million at the end of 2022[59] Operational Highlights - The company has plans to enhance its market presence and explore new product development strategies in the upcoming quarters[6] - The company paid dividends amounting to HKD 12.108 million during the period[13] - The company has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the period[18] - The company launched the Investment Research Platform (ISR) and its auxiliary tools, CASH Radar and CASH ARM, to enhance research capabilities and maintain competitive strength in the industry[93] Market and Economic Conditions - The overall economic growth in Hong Kong for Q2 2023 is projected at only 1.5%, lower than the expected 3.5%[87] - Trading volume in the stock market has decreased by nearly 55% compared to the first half of 2022, indicating a bearish market sentiment[90] - The expected increase in major residential property transactions in 2023 is projected to be between 15,000 to 17,000 units, significantly up from 10,315 units in 2022[83] Strategic Initiatives - The group plans to expand its wealth management and family office business in the Greater Bay Area, anticipating stable revenue generation in this segment[58] - The company plans to establish a Qualified Foreign Institutional Investor (QFII) fund to allow foreign investors to invest in its domestic portfolio, expanding its asset management capabilities[86] - The company plans to establish a new logistics center in the Greater Bay Area to enhance logistics efficiency and reduce costs[77] - The company is strategically consolidating its brokerage business to provide added value services to wealth management clients amid a challenging market environment[97] Corporate Governance - The company has complied with the corporate governance code, with the exception of the dual role of the chairman and CEO[126] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[133] - The company is currently focused on completing the selection, recruitment, and nomination process for new independent non-executive directors[130] Shareholder Information - As of June 30, 2023, the beneficial ownership of the company's shares by key individuals includes 39,599,098 shares (49.79%) held by Guan Baihao through Cash Guardian Limited[107] - Guan Baihao holds 277,989,563 shares (73.58%) in the company, while Guan Tingxuan holds 2,472,000 shares (0.65%)[111] - Major shareholders include Hobart Assets Limited and Cash Guardian, each holding 39,599,098 shares, representing 49.05% of the company[123]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 CELESTIAL ASIA SECURITIES HOLDINGS LIMITED 時 富 投 資 集 團 有 限 公 司* （於百慕達註冊成立之有限公司） （股份編號：1049） 中期業績 截至二零二三年六月三十日止六個月 簡明綜合損益及其他全面收益表 Celestial Asia Securities Holdings Liited（時富投資集團有限公司）（「本公司」或「時富投資」）及其附屬公司 （「本集團」）截至二零二三年六月三十日止六個月之未經審核綜合業績，連同去年同期之比較數字如下： 未經審核 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 收益 (3) 508,756 631,561 存貨成本 (288,867) (359,202) 其他收入 15,692 6,030 其他收益及虧損 7,953 25,522 薪金、津貼及相關福利 (100,445) ( ...

Customer Experience and Innovation - The company reported a focus on enhancing customer experience through technology and innovation, with a commitment to sustainable development[3] - The retail segment, Pricerite, has pioneered "new retail" in Hong Kong, integrating online and offline resources to improve customer shopping experiences[4] - The company emphasizes a customer-centric approach, utilizing market research tools to understand customer needs and expectations[5] - The company is committed to improving customer satisfaction through data-driven insights and personalized products and services[23] - The introduction of Metaverse initiatives, including AR, VR, and MR experiences, has been well-received by consumers[20] - The company plans to launch a customer loyalty program with a new rewards points system (P-Coin) to retain customers and enhance loyalty in 2023[69] - The company aims to accelerate digital transformation to better understand customer needs and adapt to changing demands[68] - The company is focused on enhancing its "new retail" business model and improving supply chain flexibility to capitalize on post-pandemic economic recovery opportunities[69] Financial Services and Wealth Management - The financial services segment, Times Financial, has been a licensed operator since 1972, holding multiple licenses from the Securities and Futures Commission[9] - Times Financial plans to expand wealth management centers in the Greater Bay Area and Yangtze River Delta regions to enhance service offerings[10] - Times Financial aims to combine traditional and new financial assets to provide comprehensive wealth management services[11] - The company is focusing on a three-pronged business development strategy, including brokerage, wealth management, and asset management, which has started to yield more balanced revenue contributions[24] - The company plans to recruit more wealth management professionals to serve a growing client base as China reopens its borders[26] - Wealth management service revenue increased by 24.7% to approximately HKD 20,200,000, up from HKD 16,200,000 in the previous year[35] - The company anticipates strong growth in investment and wealth management demand due to China's monetary and fiscal stimulus policies[26] - The asset management business will focus on enhancing distribution channels and improving research, operations, and risk control processes[82] Financial Performance and Challenges - The company reported a net loss of HKD 35,200,000 for the year ended December 31, 2022[32] - The company experienced a net loss of approximately HKD 69,800,000 for the year, compared to a net loss of HKD 53,500,000 in the previous year[37] - The financial services segment recorded revenue of approximately HKD 68,800,000, a decline of 29.0% from HKD 96,900,000 in the previous year[34] - Brokerage income decreased by approximately 40.0% to HKD 25,800,000, reflecting a 25.0% drop in average daily trading volume in the Hong Kong securities market[34] - The group reported a shareholder attributable net loss of HKD 33.6 million in 2022, an improvement of 22.0% compared to a loss of HKD 43.1 million in 2021[53] - The group’s total revenue for 2022 was HKD 1,210.8 million, a decrease of 11.5% from HKD 1,368.1 million in 2021, with retail revenue declining by 12.0% and asset management revenue decreasing by 26.7%[52] - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[100] Corporate Governance and Management - The company has fully complied with the corporate governance code during the year ending December 31, 2022, except for the deviation from code provision C.2.1, which states that the roles of the chairman and CEO should be separated[117] - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring over one-third of the board members are independent[121] - The company emphasizes a strong corporate culture aligned with its vision and business strategy, focusing on integrity and ethical conduct in all activities[118][119] - The company has mechanisms in place to ensure the board receives independent opinions and assessments, which are reviewed annually[125] - The board is responsible for leading and monitoring the company, making strategic decisions, and overseeing financial and management performance[126] - The company has a policy for the appointment of directors, detailing the processes for identifying and integrating new board members[127] - The company has implemented a training program for directors to enhance their knowledge of corporate governance and industry information[131] Risk Management and Compliance - The company has established appropriate insurance arrangements for directors facing potential legal claims[132] - The board is responsible for establishing and maintaining effective risk management and internal control systems to achieve strategic objectives[169] - The risk management framework includes five steps: risk identification, assessment and prioritization, appointing risk managers, risk response, and risk information communication and monitoring[173] - The company has a zero-tolerance policy towards corruption, ensuring all employees comply with applicable anti-corruption laws and regulations[179] - The internal audit function provides independent and objective opinions on the adequacy and effectiveness of the company's risk management and internal control systems[176] - The company maintains a risk register to document significant risks that may hinder achieving business objectives[173] Sustainability and Community Engagement - Environmental initiatives have been recognized with awards such as the "Hong Kong Environmental Excellence Award" and "Corporate Sustainability Award" from the World Green Organization[6] - The company received the Corporate Sustainability Award from the World Green Organization for its achievements in community engagement and environmental protection[79] - The company is focused on reducing its operational impact on the natural environment and contributing to community improvement, particularly for future generations[200] - The company donated heating appliances to hospitals and furniture to veterinary clinics, contributing positively to the community and enhancing its corporate social responsibility image[67] - The Environmental, Social, and Governance (ESG) Committee is responsible for collecting and analyzing ESG data, ensuring compliance with relevant laws and regulations, and preparing ESG reports[199] Market Trends and Economic Outlook - In 2022, Hong Kong's economy recorded a negative growth of 3.5%, with total merchandise exports dropping by 13.9%[18] - The local market saw 47 securities firms cease operations in 2022, marking a record high in Hong Kong's financial history[24] - The company anticipates a rebound in the Hong Kong IPO market in 2023, driven by increased financing demand for IPOs[81] - Commodity prices remained high in the first half of 2022 due to quantitative easing and supply disruptions from the Russia-Ukraine conflict[85] - The Hang Seng Index experienced a significant decline of 15.5% in 2022, closing at 19,781 points, down from 23,397 points in 2021[72]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 CELESTIAL ASIA SECURITIES HOLDINGS LIMITED 時 富 投 資 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份編號：1049） 公佈 截至二零二二年十二月三十一日止年度 之 年終業績 綜合損益及其他全面收益表 Celestial Asia Securities Holdings Limited（時富投資集團有限公司）（「本公司」或「時富投資」）及其附屬公司 （「本集團」）截至二零二二年十二月三十一日止年度之經審核綜合業績，連同去年同期之比較數字如下： 二零二二年 二零二一年 附註 千港元 千港元 收益 (3) 1,210,887 1,368,066 存貨成本 (691,433) (793,738) 其他收入 15,601 13,215 其他收益及虧損 65,661 7,342 薪金、津貼及相關福利 (199,011) (195,73 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 631,561,000, a decrease of 5.8% compared to HKD 670,923,000 in the same period of 2021[6] - The cost of goods sold was HKD 359,202,000, down from HKD 379,241,000, reflecting a 5.3% reduction[6] - Other income increased to HKD 6,030,000 from HKD 3,088,000, representing a growth of 95.4%[6] - The net profit for the period was HKD 4,228,000, compared to a loss of HKD 10,307,000 in the previous year, marking a significant turnaround[6] - Basic earnings per share improved to HKD 5.1 from a loss of HKD 12.9 per share in the prior year[8] - Total comprehensive income for the period was HKD 4,170,000, compared to a loss of HKD 10,178,000 in the same period last year[8] - The company reported a net loss of HKD 10,443,000 for the six months ended June 30, 2021, compared to a profit of HKD 4,153,000 for the same period in 2022, indicating a significant turnaround in performance[16] - Total revenue for the six months ended June 30, 2022, was HKD 631,561,000, a decrease of 5.8% from HKD 670,923,000 in the same period of 2021[24] - Retail sales of furniture and home goods generated HKD 628,223,000 in revenue for the first half of 2022, down from HKD 668,631,000 in 2021, reflecting a decline of approximately 6%[24] - The company’s total comprehensive income for the six months ended June 30, 2022, was a loss of HKD 7,938,000, compared to a loss of HKD 30,358,000 in the same period of 2021[16] - The company recorded a net loss of approximately HKD 35 million for the six months ended June 30, 2022, compared to a net loss of approximately HKD 19 million in the same period last year[49] Assets and Liabilities - Non-current assets increased to HKD 536,349,000 from HKD 509,433,000, indicating a growth of 5.3%[10] - Current liabilities decreased to HKD 675,383,000 from HKD 681,157,000, showing a slight reduction of 0.8%[12] - The company's cash and bank balances decreased to HKD 98,475,000 from HKD 167,274,000, a decline of 41.2%[10] - The total equity attributable to the owners of the company was HKD 232,627,000, down from HKD 240,640,000, reflecting a decrease of 3.3%[12] - The company’s total equity as of June 30, 2022, was HKD 194,756,000, a decrease from HKD 228,777,000 as of June 30, 2021[16] - As of June 30, 2022, the company's total outstanding borrowings amounted to approximately HKD 209.1 million, down from HKD 235.7 million at the end of the previous year[50] - The liquidity ratio as of June 30, 2022, was 0.67, a decrease from 0.74 at the end of the previous year, primarily due to an increase in accrued liabilities[51] - Total assets decreased by 4.9% to HKD 991.4 million from HKD 1,042.0 million[62] Cash Flow - The company’s cash and cash equivalents decreased to HKD 98,475,000 as of June 30, 2022, compared to HKD 100,228,000 at the end of the previous year[18] - Operating cash flow for the first half of 2022 was negative HKD 92,215,000, contrasting with a positive cash flow of HKD 76,053,000 in the same period of 2021[18] - Cash on hand decreased by 1.9% to HKD 152.8 million, while borrowings increased by 4.1% to HKD 209.1 million[62] Market and Economic Conditions - The retail market in Hong Kong saw a total sales amount of HKD 169.87 billion, a decline of 2.6% year-on-year[65] - The retail sales value in Hong Kong decreased by 2.6% year-on-year, reflecting a significant decline in consumer sentiment due to the fifth wave of COVID-19[42] - Online sales surged over 50% compared to the same period last year, as the company shifted more resources to online channels to offset the decline in offline sales[42] - The Hong Kong government has revised the GDP growth forecast for 2022 from 2%-3.5% to 1%-2% due to deteriorating export prospects and rising interest rates[70] - The local GDP contracted by 3.9% in Q1 and further shrank by 1.4% in Q2, marking the second recession in three years[74] - The average daily trading volume in the Hong Kong securities market decreased by 26.5% during the period[74] - The number of new IPOs in Hong Kong was only 27, a decrease of 41.3% compared to the previous year, representing the lowest level since 2009[77] - The tourism sector employs approximately 257,000 people, accounting for 6.6% of total employment in Hong Kong, but strict travel restrictions continue to hinder economic growth[70] Strategic Initiatives - The company plans to continue focusing on expanding its retail and asset management segments to drive future growth[24] - The company is focusing on developing new brands and enhancing product offerings to adapt to changing consumer behaviors due to the pandemic[68] - The introduction of augmented reality (AR) applications aims to improve the online shopping experience for customers[67] - The company plans to expand its product categories and services through new brand developments, enhancing the overall home living experience for customers[68] - The company aims to enhance its "online and offline" business integration to improve customer service and reduce operational costs amid economic uncertainty[70] - The company plans to expand its asset management business as part of a long-term sustainable strategy[73] - The company is committed to digital transformation, launching the "Alpha i 2.0" app, which has gained popularity for its user-friendliness and speed, enhancing customer experience[85] Shareholder Information - The company holds a significant stake, with the largest shareholder owning approximately 49.79% of the shares, indicating strong insider confidence[91] - Major shareholders include Hobart Assets Limited and Cash Guardian, each holding 39,599,098 shares, representing 49.05% of the company[102] - Dr. Kwan, the chairman and CEO, holds a total of 40,197,599 shares, which accounts for 49.79% of the company's equity[102] Compliance and Governance - The company has adhered to the corporate governance code as per the listing rules, except for the separation of the roles of chairman and CEO[103] - All directors confirmed compliance with the trading code during the review period[104] - The company’s governance structure ensures a balanced distribution of power and authority among the board and senior management[103] - The company’s audit committee reviewed the unaudited consolidated performance for the first half of 2022[106] Employee Information - The company employed 787 staff members as of June 30, 2022, with total employee wage costs amounting to approximately HKD 89.6 million during the reporting period[87] - The company is actively pursuing training programs to enhance employee skills and overall competitiveness, including compliance training as mandated by regulatory authorities[89] Stock Options - The company has a total of 41,427,000 stock options available, with 23,550,000 options remaining unexercised as of June 30, 2022[100] - The stock options granted to directors and employees include a total of 12,709,500 options that are unexercised, representing 2.76% of the issued shares[96] - The old stock option plan was terminated and replaced by a new stock option plan approved on September 30, 2021[98] - The exercise price for stock options ranges from HKD 0.480 to HKD 1.450, with varying exercise periods[100] - The stock options vest in phases, with specific performance milestones required for exercise[99] - The company aims to align the interests of its advisors and directors with the long-term goals of the organization through the stock option plan[100]