Business Operations - The Group has been the sole authorized distributor of FUJIFILM photography products in Hong Kong and Macau since 1968, and of ASTALIFT skincare products since 2010[24]. - The Group operates retail businesses in Hong Kong through its Fotomax retail chain, providing photofinishing and imaging solutions[24]. - In August 2015, the Group acquired a 49% stake in the Hong Kong operations of kikki.K, an international retail chain[24]. - Since July 2019, the Group has been providing imaging operations at Hong Kong Disneyland Resort, expanding its business in a new field[24]. - The Group organized various activities to promote its brands despite challenges posed by the pandemic[35]. - The Group's diversified business portfolio helped navigate challenges posed by the pandemic[80]. - The Group's operations were significantly disrupted in Q4 due to the fifth wave of the pandemic and stringent government measures[94]. - The Group's services segment experienced a significant sales increase of 47.6% YOY, driven by the reactivation of previously suspended projects[129]. - The Group's sales orders from hotels and casinos in Macau contributed to sustaining sales in the B-to-B segment[116]. Financial Performance - Revenue for the year ended 31 March 2022 was HK$1,015,240,000, an increase of 10.8% from HK$916,750,000 in 2021[30]. - Profit attributable to owners of the Company for the year was HK$18,110,000, compared to HK$33,635,000 in the previous year, reflecting a decrease of 46.1%[30]. - Basic earnings per share decreased to 1.53 HK cents from 2.84 HK cents, a decline of 46.1%[30]. - Total assets less current liabilities increased to HK$716,694,000 from HK$707,094,000, a growth of 0.2%[30]. - Current ratio for the year was 287.73, down from 296.92 in the previous year, indicating a decrease in liquidity[30]. - The dividend pay-out ratio increased to 65.45% from 35.24% in the previous year, indicating a higher proportion of earnings distributed as dividends[30]. - Cash and bank balances decreased to HK$229,230,000 from HK$282,663,000, a decline of 18.9%[30]. - The Group recorded a consolidated turnover of HK$1,015 million, representing a year-on-year growth of 10.7%[94]. - Net profit attributable to shareholders was HK$18.1 million, a decrease of 46.2% or HK$15.5 million compared to FY2020/21[98]. - Basic earnings per share were HK$0.0153, down from HK$0.0284 in FY2020/21[80]. Product Development and Launches - FUJIFILM launched the instax mini 11 BTS Butter special edition, which was well received by fans[38]. - The instax Link WIDE, launched in December 2021, is the first wide-format film printer featuring QR Code and collage printing functions[39]. - The instax mini STONE GRAY instant film was introduced, featuring a gray frame that imitates rock color with silver metallic accents[40]. - The GFX50S II digital camera, launched in September 2021, weighs only 900g and features a 51.4-megapixel large-format sensor[52]. - The X-T30 II digital camera, launched in September 2021, includes a new algorithm for improved autofocus and up to 18 film simulation modes[53]. - The instax mini Evo hybrid instant printer, launched in December 2021, combines instant camera and printer features with 100 different photo styles[58]. - The instax mini 40 instant camera, launched in May 2021, features a built-in self-timer and automatic shutter speed adjustment[55]. - The instax Link WIDE photo printer weighs approximately 340g and is available in two colors: Ash White and Mocha Gray[56]. - The instax mini 11 BTS Butter special edition features a cream yellow body color inspired by the BTS album cover[59]. - The instax WIDE BLACK instant film was launched in December 2021, expanding the product line[60]. - The Group launched several new products in FY2021/22, including the instax mini 40 and instax mini Evo, which were well received in the market[104]. Marketing and Sales Strategies - The Group enhanced its online shopping platforms to improve user experience and accommodate various payment methods[82]. - The Group organized marketing events on social media, achieving high engagement rates and strong sales during product launches[106]. - Seasonal promotions, including complimentary photo services during Mother's Day and Father's Day, were implemented to strengthen customer engagement[126]. - The Group's promotional activities were cost-effective, primarily utilizing word-of-mouth and social media platforms like Facebook and Instagram[119]. - The Group maintained a healthy inventory level and focused on brand building and close contact with potential commercial customers through eDM[116]. Employee Engagement and Corporate Culture - The Group emphasizes the importance of corporate culture for sustainable development and management[4]. - The Group encourages employees to propose innovative working solutions to enhance competitiveness[13]. - The Group focuses on professional knowledge training for employees and their personal potential development[13]. - The Group promotes a harmonious and cooperative team spirit to maximize employee capacities[18]. - The Group has been committed to providing quality services and products for over half a century[170]. - A comprehensive Key Performance Indicators (KPI) program was implemented to enhance operational efficiency and measure staff performance[140]. - The Group had a total of 530 staff members as of 31 March 2022, an increase from 525 in the previous year[139]. Corporate Social Responsibility and Sustainability - The Group is committed to creating high-quality products and services while fulfilling corporate social responsibility[16]. - During FY2021/22, the Group contributed to society through donations and voluntary services, including distributing COVID-19 rapid antigen testing kits[82]. - The Group's Social Responsibility Team organized various voluntary services targeting those in need, including the physically and mentally handicapped, elderly, and abandoned animals[141]. - The Group's ESG Committee is responsible for overseeing sustainability policies and performance, focusing on environment, workplace, supply chains, and community[170]. - The Group has adopted various green office initiatives, including the development of e-forms and materials recycling, to reduce environmental impact[170]. - The Group actively collaborates with stakeholders to work towards a more sustainable future despite challenges posed by the COVID-19 pandemic[170]. Risk Management and Financial Strategy - The Group adopted a conservative approach to financial risk management, avoiding highly leveraged or speculative derivatives products[133]. - The Group has implemented cost-cutting measures that are expected to save $J million annually, improving overall profitability[157]. - The Group's approach to procurement includes managing relationships with suppliers and subcontractors, focusing on environmental and labor aspects[193]. - The Group's governance practices enhance transparency in risk management and anti-corruption efforts[195].

Financial Performance - The Group achieved a revenue growth of 5.3% to HK$476 million for the six months ended September 30, 2021, compared to HK$452 million in the previous period[6]. - Net profit attributable to shareholders was HK$3.0 million, representing a drop of 84.0% or HK$15.7 million compared to the previous period's profit of HK$18.7 million[6]. - Basic earnings per share for the period amounted to HK0.25 cents, down from HK1.57 cents in the previous period[6]. - Total comprehensive income for the period was HK$3,821,000, down from HK$19,613,000, a decrease of 80.5%[97]. - Profit for the period decreased significantly to HK$3,152,000 from HK$18,037,000, indicating a decline of 82.5%[97]. - The Group's profit before income tax for the six months ended September 30, 2021, was HK$3,655,000, a decrease from HK$18,736,000 in the same period of 2020[140]. - The profit attributable to owners of the Company for the six months ended September 30, 2021, was HK$2,996,000, a significant decrease of 84.0% from HK$18,667,000 in the same period of 2020[157]. Revenue and Sales Trends - Sales of digital cameras and lenses dropped by 34.8% compared to the previous period, impacted by travel restrictions and global semiconductor shortages[10]. - Sales of instant cameras and films increased dramatically by 54.8% compared to the previous period, driven by the relaxation of social distancing measures[10]. - Consumer electronic products and household appliances segment saw a sales growth of 12.6%, with retail sales increasing by 9.5% and same-store sales up by 11.9%[14]. - Sales of TV sets grew by 13.1%, while audio systems sales increased by 14.0%, accounting for 86.4% of total sales in the consumer electronics segment[14]. - The imaging services segment saw an overall sales increase of 11.0% compared to the previous period, despite ongoing pandemic challenges[22]. - Sales of photo developing and processing (D&P) increased by 5.6%, while ID photo-taking sales rose by 6.9% as schools resumed normal operations[25]. Cost Management and Expenses - Advertising and marketing expenses were kept at a low level, only 0.7% of total sales during the period[6]. - The Group focused on cost control and eliminated unnecessary spending across all aspects of operations[6]. - The Group plans to adopt a cautious approach to spending, particularly in marketing and advertising, due to unfavorable market conditions[43]. Inventory and Assets - The Group maintained a healthy inventory level and adjusted product offerings to meet increasing market demand despite semiconductor shortages[14]. - As of September 30, 2021, the Group had cash and bank balances of HK$262 million and was debt-free, indicating strong financial resources[38]. - The Group's trade receivables stood at HK$59 million, while inventories were valued at HK$114 million as of September 30, 2021[39]. - Total assets as of September 30, 2021, amounted to HK$874,612,000, slightly up from HK$870,746,000 as of March 31, 2021[101]. - Total liabilities increased to HK$238,858,000 from HK$226,960,000, reflecting a rise of 5.1%[105]. Market Strategy and Product Development - The Group launched several new instant camera models during the period, including instax mini 40 and Mickey and Friends mini film[10]. - The group launched new instant camera products, including the instax mini 40 and Mickey & Friends mini film, to enhance market presence[12]. - The Group plans to expand its product portfolio to include imaging services at schools and wedding events, and to organize pop-up imaging events[32]. - The Group introduced innovative products like the B&W Nautilus speakers to capture market opportunities[14]. Shareholding and Corporate Governance - Directors' total shareholdings represent 60.11% of the company's issued share capital, with Dr. Sun Tai Lun Dennis holding 712,496,214 shares[51]. - The company has complied with the Corporate Governance Code throughout the six months ended September 30, 2021[78]. - The Company did not purchase, sell, or redeem any of its listed securities during the period[82]. - The Board does not recommend the payment of any interim dividend for the six months ended 30 September 2021[82]. Security and Compliance - An unauthorized access to certain systems and databases was discovered on 26 October 2021, but it is believed to have no material adverse impact on the Group's operation and financial position[82]. - The unauthorized access to the system and database has been investigated, and the board believes it has no significant adverse impact on the group's operations and financial condition[182]. - The group is taking appropriate measures to enhance the security of its information systems following the incident[182].

Business Operations - The Group has been the sole authorized distributor of FUJIFILM photography products in Hong Kong and Macau since 1968, and of ASTALIFT skincare products since 2010[15]. - In August 2015, the Group acquired a 49% stake in the Hong Kong operations of kikki.K, an international retail chain specializing in premium Scandinavian-designed products[15]. - Since July 2019, the Group has been providing imaging operations at Hong Kong Disneyland Resort, leveraging its expertise in the field[15]. - The Group operates retail businesses through its Fotomax chain, offering photofinishing and imaging solutions, as well as consumer electronics under various brand names[15]. Financial Performance - Total revenue for the year ended March 31, 2021, was HK$916,750,000, a decrease from HK$880,298,000 in 2020[17]. - Profit before income tax for 2021 was HK$34,472,000, compared to a loss of HK$36,054,000 in 2020[17]. - Basic earnings per share for 2021 was 2.84 HK cents, an improvement from a loss of 2.45 HK cents in 2020[17]. - Cash and bank balances increased to HK$282,663,000 in 2021 from HK$197,314,000 in 2020, representing a growth of 43.1%[17]. - Non-current assets totaled HK$384,826,000 in 2021, slightly up from HK$378,053,000 in 2020[17]. - Current liabilities rose to HK$163,652,000 in 2021 from HK$147,449,000 in 2020, indicating an 11.5% increase[17]. - The company declared a final dividend of 1 HK cent per ordinary share for the year ended March 31, 2021[19]. - The debt to equity ratio remained stable, with no specific percentage provided for 2021[17]. - The return on equity for 2021 was 5.22%, a recovery from a negative return of 7.29% in 2020[17]. Product Development and Launches - The company launched the new X-S10 digital camera and FUJINON binoculars series to enhance product offerings and market presence[25]. - FUJIFILM launched the instax mini 11 instant camera in April 2020, featuring five colors and automatic exposure adjustment[30]. - The GFX100S digital camera, launched in January 2021, weighs only 900g and features a 102-megapixel sensor with a five-axis IBIS mechanism[38]. - The X-E4 mirrorless digital camera was reintroduced in January 2021 after a four-year hiatus, enhancing image quality and stability[39]. - The X-T4 flagship mirrorless digital camera offers the world's fastest continuous shooting at 15 frames per second and autofocus speed of 0.02 seconds[42]. - The instax SQUARE SQ1 instant camera, launched in October 2020, features a modern design with three color options[45]. - The instax mini BLUE MARBLE and instax SQUARE WHITE MARBLE films were newly launched, expanding the product line[29]. - The instax SQUARE RAINBOW instant film was introduced in October 2020, adding variety to the instant film offerings[46]. - The X-S10 digital camera, launched in November 2020, features a 26.1-megapixel sensor and is designed for lightweight photography[41]. - FUJIFILM held its first live streaming launch conference for the GFX100S in January 2021, attracting significant viewer engagement[35]. Market Trends and Sales Performance - The Group's revenue increased by 4.1% year on year to HK$917 million, driven by strong sales in consumer electronics and household appliances[71]. - E-commerce sales of AV Life products surged by over 300% year on year, despite a decline in online sales through the Fotomax site[72]. - The Group achieved a net profit of HK$33.6 million for FY2020/21 and increased its cash balance by HK$85 million compared to FY2019/20[76]. - The pandemic significantly impacted the photographic products and services segment, particularly at Hong Kong Disneyland Resort, which faced a substantial drop in visitor numbers[70]. - Sales of TVs and audio equipment rose significantly, compensating for declines in other business segments[71]. - The Group's diversified product portfolio helped maintain sales during the pandemic, with online platforms rapidly developed to meet changing consumer trends[69]. Sustainability and Corporate Responsibility - The Group is committed to sustainability, creating value for shareholders, employees, customers, and the social environment[12]. - The Group has reduced GHG emissions by 38% during FY2020/21[156]. - The Group's commitment to safe and high-quality products is emphasized during the COVID-19 pandemic[156]. - The Group will continue to work towards a more sustainable future through collaboration with stakeholders[156]. - The Group's dedication to reducing environmental impact includes the development of e-forms and materials recycling[156]. - The Group's ESG Committee, chaired by the COO, oversees sustainability policies and sets objectives related to environment, workplace, supply chains, and community[160]. Employee Development and Management - The Group focuses on professional knowledge training and personal potential development for employees to enhance competitiveness[9]. - The Group's core values include accountability, curiosity to learn, and open-mindedness, fostering a culture of innovation and excellence[8][10][11]. - The management team emphasized cautious inventory management due to the uncertain COVID-19 situation and semiconductor supply shortages[100][104]. - The group employed a total of 525 staff as of March 31, 2021, a slight decrease from 527 staff in the previous year[133]. - The group continued to support staff development through various training activities, adhering to anti-pandemic measures[133]. Marketing and Customer Engagement - The Group's marketing efforts included collaborations with various partners and a revamped website aimed at attracting younger customers[114]. - Marketing efforts for ASTALIFT included social media campaigns and promotions, such as the "BeTrulyYou" campaign featuring KOL recommendations[109]. - The Group plans to enhance e-commerce capabilities and develop mobile apps for personalized customer experiences[80]. Inventory and Cost Management - The Group implemented stringent inventory and cost management measures, resulting in substantial rent concessions from landlords[72]. - The Group adopted an aggressive inventory management approach, resulting in a stock clearance that yielded a reversal of inventory provisions amounting to HK$4.2 million[90]. - The Group's inventory level dropped by 34.4% compared to the end of March 2020, reflecting a cautious inventory management strategy[123].

Financial Performance - For the six months ended September 30, 2020, the Group's consolidated turnover was HK$452 million, a decrease of 5.0% from HK$476 million in the same period last year[5]. - The Group's net profit attributable to shareholders was HK$18.7 million, compared to a loss of HK$2.0 million in the same period last year[5]. - Basic earnings per share were HK1.57 cents, while the previous year recorded a basic loss per share of HK0.17 cent[5]. - The group's gross profit margin decreased to 21.8% in the first six months of the fiscal year, down from 23.6% in the same period last year, primarily due to a decline in sales of high-margin printing and imaging services[9]. - Revenue for the six months ended 30 September 2020 was HK$452,014,000, a decrease of 5.1% from HK$476,185,000 in the same period of 2019[77]. - Gross profit for the period was HK$98,453,000, down 12.4% from HK$112,417,000 in the previous year[77]. - Operating profit for the six months ended 30 September 2020 was HK$20,135,000, compared to an operating loss of HK$281,000 in the same period of 2019[77]. - Profit before income tax was HK$18,736,000, a significant recovery from a loss of HK$2,052,000 in the prior year[77]. - Profit for the period attributable to owners of the Company was HK$18,667,000, compared to a loss of HK$1,988,000 in the same period of 2019[77]. - Total comprehensive income for the period amounted to HK$19,613,000, compared to a loss of HK$3,026,000 in the prior period[83]. Sales and Market Trends - Sales of consumer electronic products and household appliances grew significantly during the review period, helping to offset losses in other segments[7]. - The overall volume of local retail sales in Hong Kong dropped by 30% from January to September 2020 compared to the same period in 2019[5]. - Sales of digital cameras and lenses dropped by 23.6%, while sales of instant cameras and films decreased by 46.6% compared to the same period last year[16]. - Sales for consumer electronic products and household appliances rose by 19.4%, with retail sales increasing by 27.3% and same-store sales growing by 24.0%[16]. - The Group's sales in the B-to-B commercial and professional AV products segment dropped by 20.8% due to COVID-19 related cancellations of large events[22]. - The photofinishing and imaging services segment saw a 25.5% decline in overall sales compared to the same period last year, with online sales falling by 11.3%[28]. Cost Control and Operational Efficiency - The Group implemented stringent cost control initiatives and an aggressive stock clearance program to maintain a healthy level of working capital[7]. - Management achieved short-term gains by negotiating rental concessions and reducing working hours of part-time staff during the pandemic[7]. - The management conducted a comprehensive strategic business review and implemented a KPI program to enhance operational efficiency[11]. - The group is closing underperforming stores upon lease expiry and seeking new locations with low rent and good growth potential[11]. - Cost control measures included negotiating short-term rent waivers and reducing part-time staff hours during the pandemic[9]. - The management aims to maintain a robust operating capital level through strict cost control and active inventory clearance plans[9]. Government Support and Financial Position - Government subsidies received during the review period amounted to HK$18.2 million, recorded under "Other Income," which helped the group continue operations without layoffs[12]. - The Group achieved a foreign exchange gain of HK$1.0 million during the period, compared to a foreign exchange loss of HK$2.1 million in the same period last year, resulting in a turnaround of over HK$3 million[12]. - As of September 30, 2020, the Group had cash and bank balances of HK$274 million and was debt-free, indicating strong financial resources[37]. - The Group's trade receivables stood at HK$44 million, while inventories were valued at HK$115 million as of September 30, 2020[37]. - The total number of full-time and part-time employees increased to 527 as of September 30, 2020, up from 482 in the previous year[37]. Strategic Initiatives and Future Outlook - The Group plans to focus on acquiring business from NGOs and the public sector, such as hospitals and educational organizations, in response to the challenging commercial project landscape[33]. - The Group aims to expand its product offerings, particularly in the growing consumer electronics and household appliances segment[35]. - The Group will become FUJIFILM Japan's official distributor in Hong Kong for binoculars and certain cleaning products, enhancing its product portfolio[35]. - The Group plans to improve its e-commerce capabilities by revamping brand websites and collaborating with third-party online shopping platforms[35]. - The Group's management is closely monitoring the ongoing impact of the COVID-19 outbreak, which remains uncertain and may affect future operations and financial performance[188]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the six months ended 30 September 2020[56]. - The audit committee reviewed the financial statements for the six months ended 30 September 2020, confirming compliance with applicable accounting standards[61]. - The financial information was reviewed by PricewaterhouseCoopers, with no significant issues identified[75]. - The company has established written guidelines for employees regarding securities transactions to prevent non-compliance[56]. - No interim dividend was recommended for the six months ended September 30, 2020[62].

t CHKP CHINA-HONGKONG PHOTO PRODUCTS HOLDINGS TIMILED 中 港 照 相 器 材 集 團 有 限 公 司 (Stock Code 股份代號：1123) 2019/20 Annual Report 年 度 業 績 報 告 CORE VALUES 核心價值 (Stock Code 股份代號 : 1123) The Group has established over half a century, and has been confronted with the rapid development of technology, the fierce market competition and the uncertainty of the business environment. We are aware of the importance of corporate culture in the sustainable development and management of the Group as well as its indispensable gui ...

Financial Performance - The Group's consolidated turnover for the six months ended September 30, 2019, was HK$476 million, a slight decrease of 0.6% compared to HK$479 million recorded in the same period last year [5]. - The net loss attributable to shareholders during this period was HK$2.0 million, an improvement of HK$5.7 million compared to the same period last year [6]. - Overall sales of photographic products declined by 16.5% compared to the same six-month period last year, with a notable drop of 32.6% in the last three months of the reporting period due to escalating retail challenges in Hong Kong [10]. - The Group's photofinishing and imaging services segment registered year-on-year growth during the traditional peak back-to-school season of August and September [9]. - The Group's advertising and marketing expenses were reduced by HK$2.9 million, a decrease of 20.0% compared to the same period last year, as the Group focused on lower-cost promotional activities [11]. - The Group's hospitality TV sales experienced a remarkable increase of 95.3% year-on-year, reflecting the hotel sector's adoption of innovative technologies [24]. - The Group's wholesale business for consumer electronic products and household appliances achieved a revenue increase of 47.8% compared to the same period last year, driven primarily by strong television sales [24]. - The Group's retail sales for consumer electronics and home appliances decreased by 9.2% year-on-year, while same-store sales increased by 1.5% [21]. - The Group's DocuXpress service recorded a sales increase of 17.1% during the review period, reflecting its growing popularity [31]. - The Group's imaging operation services at Hong Kong Disneyland generated encouraging turnover, although it was below initial forecasts due to a significant drop in visitors starting in July [31]. Cost Management - The Group's careful spending on controllable costs has helped secure profitability in a challenging economic environment [9]. - The Group is focusing on maximizing returns by analyzing sales performances and closing underperforming stores upon lease expiry [9]. - The Group closed one underperforming store, reducing the total number of stores to 13 as of September 30, 2019 [19]. - The Group will negotiate with landlords for rental concessions and adjust store operating hours to improve efficiency during challenging retail conditions [40]. - The Group intends to maintain strict cost controls and flexibility in business decisions to weather the current economic storm and benefit from complementary business interests once the retail environment stabilizes [40]. Market Challenges - The ongoing Sino-US trade dispute and social unrest in Hong Kong negatively impacted consumer sentiment and spending, particularly affecting non-essential and luxury items [7]. - The Group anticipates a continued slowdown in the consumer market due to reduced Mainland tourist arrivals and weaker local sentiment, particularly affecting luxury and discretionary spending segments [37]. - Sales of luxury cameras and high-end electrical appliances are expected to decline further before stabilizing, while sales of essential consumer goods like skincare products are projected to remain stable [37]. Product Development and Innovation - The Group plans to introduce new products this year to attract consumers seeking to upgrade their equipment [9]. - The Group launched the FUJIFILM GFX100, a high-end camera retailing for approximately US$10,000, which has received positive market feedback and initial sales have been good [13]. - The Group introduced a hybrid instant camera, the "instax mini LiPlay," which has achieved encouraging sales due to its new features and portability [15]. - The Group plans to launch new FUJIFILM models, including the X-A7 for entry-level users and the X-Pro3 for premium users, in the next half-year to stimulate sales [37]. - A new FUJIFILM projector with the world's first two-axial rotatable binding lens is expected to be launched in the coming half-year, generating significant consumer interest [40]. Financial Position - As of September 30, 2019, the Group had cash and bank balances of HK$182 million and was debt-free, indicating strong financial resources [44]. - The Group's trade receivables stood at HK$53 million, while inventories were valued at HK$203 million as of September 30, 2019 [44]. - The Group's total liabilities rose to HK$252,586,000 from HK$190,439,000, representing an increase of approximately 32.6% [99]. - Total equity attributable to owners of the company decreased to HK$633,498,000 from HK$640,423,000, a decline of about 1.4% [95]. - The Group's cash and bank balances decreased to HK$181,959,000 from HK$198,178,000, a decline of about 8.2% [95]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the six months ended 30 September 2019 [68]. - No incidents of non-compliance with the Employees Written Guidelines were noted by the company [68]. - The audit committee reviewed the financial statements and confirmed compliance with applicable accounting standards [73]. - The Company’s auditors, PricewaterhouseCoopers, conducted a review of the interim financial information and found no issues [78]. Accounting Policies and Standards - The Group adopted HKFRS 16 "Leases" effective from 1 April 2019, changing its accounting policies for leases [119]. - The Group's financial information for the six months ended 30 September 2019 has been prepared in accordance with HKAS 34, "Interim financial reporting" [114]. - The Group plans to adopt new accounting standards and revisions upon their effective dates, which may impact future financial reporting [120]. - The Group is currently evaluating the financial impact of the newly issued and revised standards [120].

Financial Performance - Revenue for the year ended March 31, 2019, was HK$959,045,000, an increase from HK$929,839,000 in 2018, representing a growth of approximately 13.2%[13] - The Group reported a loss attributable to owners of the Company of HK$46,691,000 for 2019, compared to a profit of HK$38,206,000 in 2018, indicating a significant decline in profitability[13] - The Group recorded revenue of HK$959 million for the year, representing a year-on-year growth of 3.1% from HK$930 million last year[71] - The group confirmed an impairment provision of HKD 32.7 million for receivables from an associate due to high credit risk[72] - The Group experienced a net loss attributable to shareholders of HK$46.7 million, compared to a net profit of HK$38.2 million for the previous year[71] Assets and Liabilities - Current assets totaled HK$506,010,000, while current liabilities were HK$155,454,000, resulting in a net current asset value of HK$350,556,000[13] - The Group's non-current assets amounted to HK$326,587,000, with investment properties valued at HK$235,580,000[13] - The Group's cash and bank balances were HK$198,178,000, down from HK$219,486,000 in the previous year[13] - The current ratio was reported at 325.50, indicating a strong liquidity position compared to previous years[13] Market and Product Development - The Group aims to expand its market presence through innovative product offerings and collaborations[20] - The Group has introduced new products such as the instax SQUARE SQ20 and SQ6, featuring enhanced functionalities and retro designs[40][38] - The skincare business achieved stable sales growth of 9.1%, with online sales growing by 12.0% and 48.0% of total sales coming from the ASTALIFT website[80] - The Group plans to launch the GFX100 digital camera in June 2019 and introduce a new rental service for instax mini 8 cameras from May to July 2019[79] Sales and Marketing - Advertising and marketing expenses increased by 38.2% due to extensive promotional activities celebrating the 50th anniversary of Fuji Photo Products[71] - Sales growth in the first half of the year was 5.0%, but slowed to 1.4% in the second half due to the US-China trade war[71] - The Group opened five new Fotomax stores and closed six underperforming ones, ending the year with a total of 63 stores[64] Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainability and social responsibility during the fiscal year 2018/19[142] - The Group established an ESG Committee this year, chaired by the Chief Operating Officer, to promote ESG practices across the organization[144] - The Group's total greenhouse gas (GHG) emissions during the reporting period were approximately 1,310 tonnes of CO2 equivalent, a reduction of 11% compared to 1,470 tonnes in 2017/18[155][159] - The Group has implemented various low-carbon and emission reduction measures to minimize resource consumption[150] Employee and Workforce Management - The Group had a total of 474 employees at the end of the reporting period, a decrease from 486 in the previous year[186] - Employee gender distribution is 53% male and 47% female, showing a slight increase in female representation from the previous year[195] - The Group emphasizes a fair and safe work environment, with no reported incidents of discrimination during the reporting period[189] - The Group provided a total of 1,558 hours of employee training during the reporting period, an increase from 1,411 hours in the previous year[200] Leadership and Management - Dr. Sun Tai Lun Dennis has over 40 years of experience in the photographic products industry and has been with the Group since 1976[117] - Mr. Sun Tao Hung Stanley, the Deputy Chairman and CEO, has been with the Group since 2005 and oversees overall marketing and sales[118] - Ms. Chan Wai Kwan Rita was appointed as CFO and Company Secretary on April 1, 2019, and has over 15 years of experience in auditing and financial management[125] - The Group's leadership team consists of experienced professionals with diverse backgrounds in finance, marketing, and operations[124]