Financial Performance - The company recorded revenue of HKD 1,270,635,000 for the six months ended October 31, 2024, a decrease of 3.9% compared to HKD 1,322,485,000 for the same period in 2023/24[5] - Profit attributable to equity holders of the company was HKD 32,959,000, down 35.1% from HKD 50,764,000 in the previous year[7] - Gross profit for the same period was HKD 596,681, down 3.6% from HKD 618,819 in 2023[35] - Operating profit decreased to HKD 46,858, a decline of 30.3% compared to HKD 67,146 in the previous year[35] - Net profit for the period was HKD 30,016, down 38.6% from HKD 48,920 in 2023[35] - Basic earnings per share decreased to HKD 4.58, down from HKD 7.06 in the same period last year[35] - The total income tax expense for the six months ended October 31, 2024, was HKD 7,348,000, a decrease of 32.9% from HKD 10,892,000 in 2023[73] - The company declared an interim dividend of HKD 0.04 per share for the six months ended October 31, 2024, compared to HKD 0.056 per share in 2023, representing a reduction of 28.6%[79] Liquidity and Financial Position - The company maintained a strong liquidity position with cash and cash equivalents of HKD 308,072,000 as of October 31, 2024, compared to HKD 318,775,000 a year earlier[10] - The current ratio improved to 1.6 from 1.5 as of April 30, 2024[10] - Total assets decreased from HKD 1,742,182 thousand as of April 30, 2024, to HKD 1,669,489 thousand as of October 31, 2024, representing a decline of approximately 4.18%[37] - Total liabilities decreased to HKD 784,128,000 as of October 31, 2024, from HKD 848,474,000 as of April 30, 2024[67] - Total equity decreased from HKD 893,708 thousand to HKD 885,361 thousand, a decline of approximately 0.39%[38] - Cash and cash equivalents decreased from HKD 338,501 thousand to HKD 308,072 thousand, a reduction of about 8.99%[40] - Operating cash flow generated was HKD 204,232 thousand, down from HKD 259,338 thousand, indicating a decrease of approximately 21.23%[40] Operational Efficiency and Cost Control - The company is focusing on cost control and operational efficiency to maintain market share and brand awareness[20] - Total employee costs decreased by 8.1% to HKD 216,886,000 from HKD 199,383,000 in the previous year[11] - The company employed approximately 2,070 staff as of October 31, 2024, down from about 2,190 a year earlier[11] - Cost control measures have been implemented, including optimizing the workforce and negotiating lease agreements, which are expected to positively impact financial performance in the coming years[27] - The company is focusing on enhancing core business operations and strict budget management to mitigate external uncertainties[27] Revenue Sources and Market Performance - Retail sales revenue reached HKD 1,257,698,000, accounting for 99.0% of total revenue[15] - Revenue from Hong Kong decreased by 4.1% to HKD 1,099,958,000, representing 86.6% of total revenue[18] - Singapore's revenue declined by 3.7% to HKD 147,986,000[20] - Macau's revenue increased by approximately 4% to HKD 22,691,000[21] - The wholesale and franchise income grew to HKD 12,937,000, up from HKD 3,962,000[16] Strategic Initiatives - The company plans to expand its product range and maintain appropriate inventory levels to meet customer demand[9] - The company aims to enhance its brand loyalty and product diversification by developing new private label products[9] - The company plans to upgrade its membership program to convert 300,000 out of 1,000,000 members to gold status by 2025[24] - The launch of a one-hour "Click and Collect" service on the online shopping platform JHCeshop aims to enhance customer convenience[24] - The company plans to expand its private label product range to improve gross margins and meet customer demand[25] - The company aims to respond quickly to market trends and customer needs, emphasizing operational efficiency and strategic growth plans[28] Shareholder and Governance Information - The company declared an interim dividend of HKD 0.04 per share, totaling approximately HKD 28.8 million, compared to HKD 40.315 million for the previous year[125] - The company has adopted the corporate governance code and is committed to maintaining high standards of corporate governance[120] - The company’s chairman and CEO, Ms. Wei, holds both positions, which the board believes is in the best interest of the group[120] - The company’s total equity held by directors and senior management as of October 31, 2024, included 361,902,000 shares held by Ms. Wei Lixia, representing 49.98%[107] - The company’s major shareholders include Webb David Michael with 8.01% and Preferable Situation Assets Limited with 5.00%[113] Financial Risks and Accounting Standards - The group faces various financial risks, including foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk[51] - The group has adopted new and revised accounting standards effective from May 1, 2024, with no significant impact on previously reported amounts[47] - The group has not adopted new and revised accounting standards that will take effect after May 1, 2024, and preliminary assessments indicate no significant impact on operational performance or financial position[49] - The group is currently evaluating the impact of new and revised standards on its financial statements, with no major changes expected in risk management policies since April 30, 2024[51]

Financial Performance - The group recorded revenue of HKD 1,270,635,000 for the six months ended October 31, 2024, a decrease of 3.9% compared to HKD 1,322,485,000 in the same period of 2023/24[5]. - Profit attributable to equity holders decreased by 35.1% to HKD 32,959,000 from HKD 50,764,000 in the previous year[5]. - Retail sales revenue, including consignment commission income, reached HKD 1,257,698,000, accounting for 99.0% of total revenue, down from HKD 1,318,523,000 in the previous year[29]. - Revenue from Hong Kong was HKD 1,099,958,000, a decline of 4.1% from HKD 1,147,066,000 in the previous year, representing 86.6% of total revenue[30]. - Revenue in Singapore decreased by 3.7% to HKD 147,986,000 from HKD 153,598,000 in the previous year[14]. - Revenue from Macau increased by approximately 4% to HKD 22,691,000, compared to HKD 21,821,000 in the previous year[34]. - Operating profit for the period was HKD 46,858 thousand, with a pre-tax profit of HKD 37,364 thousand after financial costs of HKD 12,591 thousand[56]. - Net profit for the period was HKD 30,016 thousand, representing a decline of 38.6% from HKD 48,920 thousand in the same period last year[68]. - Total comprehensive income for the period was HKD 30,869 thousand, down 33.3% from HKD 46,253 thousand in the prior year[68]. - Basic earnings per share decreased to HKD 4.58 from HKD 7.06, reflecting a drop of 35.1%[68]. Liquidity and Assets - The group maintained a strong liquidity position with cash and cash equivalents amounting to HKD 308,072,000 as of October 31, 2024, down from HKD 318,775,000 a year earlier[6]. - The total assets as of October 31, 2024, were HKD 1,669,489,000, down from HKD 1,742,182,000 as of April 30, 2024[43]. - Total liabilities decreased to HKD 784,128 thousand as of October 31, 2024, from HKD 848,474 thousand as of April 30, 2024, a reduction of 7.6%[70]. - Total equity as of October 31, 2024, was HKD 885,361 thousand, down from HKD 893,708 thousand as of April 30, 2024, a decrease of 0.9%[70]. - The average trade receivables for the period were HKD 178,331,000, compared to HKD 179,443,000 in the previous period[92]. Cost Management - Total employee costs decreased by 8.1% to HKD 216,886,000 from HKD 199,383,000 in the previous year[7]. - The group is implementing strict cost control measures, including budget management and workforce optimization, to address rising operational costs[12]. - The company is focusing on strict budget management and cost control measures to address high operational costs[39]. - The group is committed to improving service quality and enhancing the shopping experience for customers through flexible frontline sales personnel[63]. Strategic Initiatives - The group plans to enhance its private label product offerings to improve gross margins and meet customer demand[20]. - The company plans to enhance its online and offline marketing strategies, including a one-hour "click and collect" service for online orders[37]. - The group aims to increase its J-Fun registered members to 1 million by 2025, with 300,000 expected to upgrade to gold members, enhancing customer loyalty and retail revenue[63]. - The group plans to adjust its product mix by introducing more fast-moving consumer goods to enhance shopping convenience and competitiveness[62]. - The company is actively expanding supplier partnerships in favorable exchange rate regions to procure high-quality products at competitive prices[64]. - The group is restructuring its logistics and distribution centers to serve as a core hub for global procurement, enhancing delivery efficiency for future growth[64]. Market Outlook - The company remains cautiously optimistic about medium to long-term prospects, focusing on markets in Hong Kong, Singapore, and Macau[29]. - The retail market in Hong Kong is undergoing transformation, with a shift in consumer behavior due to the pandemic, necessitating agile responses to market trends[62]. - The company is focusing on optimizing operations and improving productivity to enhance efficiency and profitability while maintaining market share in Singapore[60]. Governance - The executive directors include Ms. Wei Lixia, Mr. Liu Baihui, and Mr. Zheng Shengxu[129]. - The independent non-executive directors are Mr. Meng Yongming, Mr. Wu Shiyuan, and Mr. Yang Yaoqiang[129].

Financial Performance - The group's revenue for the fiscal year ending April 30, 2024, was HKD 2,687,036,000, a decrease of 4.9% compared to HKD 2,825,994,000 in the previous year due to high base effects from COVID-19 demand [5]. - Profit attributable to equity holders of the company was HKD 101,070,000, down 32% from HKD 149,634,000 after adjusting for government wage subsidies [5]. - Operating profit for the year was HKD 137,422,000, compared to HKD 225,454,000 in the previous year [6]. - Total retail sales revenue reached HKD 2,679,417,000, a decrease from HKD 2,798,792,000 in the previous year, accounting for 99.7% of total revenue [31]. - Revenue from Hong Kong was HKD 2,330,164,000, down from HKD 2,485,838,000, representing 86.7% of total revenue [32]. - Singapore market revenue increased by 7.8% to HKD 311,896,000, with gross profit rising 11.8% to HKD 139,242,000 [33]. - The company reported a net financial expense of HKD 17,653,000 for the year ended April 30, 2024, compared to HKD 11,477,000 in 2023, indicating an increase of 54.0% [133]. - The total comprehensive income for the year ended April 30, 2024, was a loss of HKD 104,166,000, compared to a profit of HKD 176,834,000 for the previous year [140]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.056 per share, totaling HKD 0.112 per share for the year, down from HKD 0.220 per share in the previous year [5]. - The company declared an interim dividend of HKD 0.056 per share, down from HKD 0.12 per share in the previous year, totaling approximately HKD 40,305,000 [37]. - The total dividend for the year is expected to be HKD 0.112 per share, compared to HKD 0.22 per share in the previous year, amounting to approximately HKD 80,610,000 [37]. Cash Flow and Liquidity - Cash and cash equivalents stood at HKD 338,501,000, up from HKD 318,775,000 as of October 31, 2023 [5]. - Cash generated from operating activities for the year was HKD 524,146,000, a decrease from HKD 563,720,000 in 2023 [142]. - The net cash generated from operating activities was HKD 466,692,000, down from HKD 528,887,000 in the prior year [142]. - The company reported a net cash outflow from investing activities of HKD 56,033,000, compared to HKD 24,691,000 in 2023 [142]. - The net cash used in financing activities was HKD 474,433,000, a slight improvement from HKD 519,935,000 in the previous year [142]. - As of April 30, 2024, cash and cash equivalents totaled HKD 338,501,000, down from HKD 402,310,000 at the beginning of the year [142]. Assets and Liabilities - Total assets amounted to HKD 1,742,182,000, while total liabilities were HKD 848,474,000 [6]. - The total number of directly managed stores decreased to 376 from 379, with a net decrease of 3 stores across Hong Kong, Singapore, and Macau [29]. - Total liabilities decreased to HKD 848,474,000 as of April 30, 2024, from HKD 873,035,000 in 2023, a reduction of 2.8% [138]. - The company reported a total of 724,023,000 shares issued, with major shareholders holding significant stakes, including Hiluleka Limited with 324,000,000 shares, representing 44.75% [56]. Strategic Initiatives - The company established a new subsidiary in Japan for producing its own brand of masks, Smile 365 [14]. - The company aims to enhance online and offline sales channels and strengthen customer engagement through digital and social media [14]. - The group entered a strategic investment in the online shopping platform Youhe, enhancing its e-commerce capabilities [15]. - The launch of the new online shopping platform "JHCeshop" in November 2023 aims to provide a more attractive and flexible shopping experience [20]. - The company plans to introduce a one-hour "online order pickup" service by June 2024, leveraging its extensive retail network [20]. - The group is focusing on optimizing supply chain management to improve replenishment efficiency and reduce delivery times [21]. - Continuous development of private label products is prioritized to enhance brand loyalty and product diversification [22]. Corporate Governance - The company has a robust board of directors with extensive experience in retail and management across various regions, enhancing governance and strategic direction [49]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring over one-third independence [78]. - The company has adopted the corporate governance code and is committed to maintaining high standards of corporate governance [76]. - The board has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee specific company affairs [85]. - The independent non-executive directors have confirmed their independence according to the relevant listing rules [78]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a clear governance framework for environmental, social, and governance (ESG) matters, with a dedicated committee responsible for strategy and performance monitoring [108]. - The greenhouse gas emissions intensity for the reporting market was 3 tons of CO2 equivalent per HKD 1 million in sales, an increase from 2.80 tons in the previous year [110]. - The company aims to reduce greenhouse gas intensity by 10% per million HKD in sales by 2027, using the fiscal year ending April 30, 2022, as the baseline [111]. - The group has been awarded the "Caring Company" logo for 15 consecutive years by the Hong Kong Council of Social Service for its contributions to the community [121]. - The company encourages employees to extend overseas business trips to reduce travel frequency and promote virtual meetings, thereby minimizing greenhouse gas emissions [110]. Employee and Operational Metrics - The total employee cost for the year was HKD 436,746,000, up from HKD 421,958,000 in the previous year [30]. - The company employed approximately 2,127 staff as of April 30, 2024, down from 2,146 staff a year earlier [30]. - The employee turnover rate was 36% for males and 34% for females, with an overall employee count of 2,127 as of April 30, 2024 [114]. - The average number of training hours completed per employee was 3 hours, with 85% of employees receiving training [116]. - The company reported 1,173 lost workdays due to work-related injuries, a significant increase from 292 days in the previous year [115]. Risk Management - The company faces various financial risks, including market risk (foreign exchange risk, cash flow, and fair value interest rate risk), credit risk, liquidity risk, and price risk [198]. - The board confirmed that the risk management and internal control systems are effective and adequate as of the year ending April 30, 2024 [99]. - The company has implemented a formal risk assessment guideline, with senior management identifying and ranking risks annually based on their impact and likelihood [97].

Financial Performance - The company's revenue for the fiscal year ended April 30, 2024, was HKD 2,687,036,000, a decrease of 4.9% compared to HKD 2,825,994,000 in the previous year, primarily due to a high base effect from increased demand for pandemic-related supplies in the prior year [28]. - Retail sales revenue for the year reached HKD 2,679,417,000, a decrease of 4.3% from HKD 2,798,792,000 in the previous year, accounting for 99.7% of total revenue [40]. - Revenue from Hong Kong was HKD 2,330,164,000, down from HKD 2,485,838,000, primarily due to a high base effect from increased demand for anti-epidemic supplies during COVID-19 [41]. - Macau's revenue was HKD 44,976,000, a decrease from HKD 50,878,000, but the business remained profitable despite challenges similar to those in Hong Kong [42]. - Operating profit decreased to HKD 137,422,000 from HKD 225,454,000, reflecting a decline of 39.0% [49]. - Net profit for the year was HKD 99,797,000, down from HKD 181,875,000, representing a decrease of 45.0% [49]. - Basic earnings per share decreased to 14.0 HK cents from 25.3 HK cents, a decline of 44.5% [49]. - The company reported a profit attributable to owners of the company of HKD 101,070,000 for the year ended April 30, 2024, a decrease of 44.4% compared to HKD 181,571,000 in 2023 [128]. - Total comprehensive income for the year ending April 30, 2024, is HKD 102,743,000, compared to HKD 176,834,000 for the previous year, indicating a decrease of about 42% [175]. Dividends - The company proposed a final dividend of HKD 0.056 per share, totaling HKD 0.112 per share for the year (2022/23: HKD 0.220) [2]. - The total interim dividend declared was HKD 40,305,000, with an interim dividend per share of HKD 5.6, compared to HKD 12.0 in 2023 [110]. - The company declared a dividend of HKD 112,228,000 for 2024, with a proposed final dividend of HKD 40,305,000, reflecting a decrease from HKD 172,540,000 in 2023 [131]. Operational Changes - The total number of directly managed stores decreased to 376 from 379, with a net decrease of 3 stores [13]. - The company is focusing on adjusting its product mix based on market demand to maintain competitiveness in the Hong Kong market [16]. - The company plans to expand its store network in response to housing and population growth opportunities over the next five to ten years [37]. - The company is focusing on expanding its presence in Singapore by establishing stores in high-density residential areas, which is expected to improve brand awareness and customer loyalty [44]. - The company plans to open new stores in high-potential areas, focusing on markets in Hong Kong, Singapore, and Macau [166]. Cost Management - Operating costs increased due to rising human resource costs and the end of rent reductions for retail tenants, but the company has implemented strict cost control measures [167]. - The company is actively seeking new revenue sources while strictly controlling costs to maintain sustainable profitability and stable dividend levels [1]. - The company is focusing on optimizing supply chain management to ensure product quality and supply stability, which is crucial for maintaining competitiveness in the market [1]. E-commerce and Technology - The company aims to enhance its e-commerce operations by deploying the Easy Buy platform in some Singapore stores [18]. - The company has launched a new self-operated online shopping platform "JHCeshop" in November 2023, integrating online and offline shopping experiences [1]. - The company plans to implement in-store automation technologies, including self-checkout machines and digital price tags, to enhance operational efficiency and customer experience [45]. - The company has introduced a one-hour "online store pickup" service, enhancing customer convenience and flexibility while leveraging store inventory [1]. Market Strategy - The company is committed to improving marketing and supply chain operational efficiency to meet changing consumer demands and market conditions [1]. - The company aims to enhance brand loyalty and product diversification by developing new private label products and expanding into different categories [1]. - The company emphasized a customer-centric approach to improve product offerings and store performance, aiming for continuous innovation [71]. Financial Position - The company maintained a stable current ratio of 1.5 as of April 30, 2024 (2023: 1.5) [10]. - Total borrowings increased to HKD 22,820,000 (2023: HKD 13,381,000) [10]. - The company reported a significant increase in inventory, rising to HKD 402,599 thousand from HKD 360,188 thousand in the previous year, indicating an 11.5% increase [76]. - Total assets of the company decreased to HKD 1,742,182 thousand from HKD 1,777,438 thousand, marking a 2.0% decrease year-over-year [77]. - Total liabilities as of April 30, 2024, decreased to HKD 848,474,000 from HKD 873,035,000 in 2023, representing a decline of about 2.8% [123]. Human Resources - As of April 30, 2024, the company employed approximately 2,127 staff, a slight decrease from 2,146 in the previous year, with total employee costs amounting to HKD 436,746,000 [38]. - The company aims to maintain a stable workforce by providing professional development and career advancement opportunities [73]. - The company plans to address labor shortages through an input labor program and increased automation in stores [71]. Management and Governance - The management team will regularly review its composition to ensure adaptability to business development needs, aiming for greater agility in a dynamic business environment [48]. - The board believes that the dual role of the chairperson and CEO is in the best interest of the company for effective management and business development [152]. - The board of directors confirmed compliance with the standard code of conduct for securities trading throughout the fiscal year ending April 30, 2024 [153].

Financial Performance - The company's revenue for the period reached HKD 1,322,485,000, marking a 4.6% decrease compared to HKD 1,386,665,000 in the previous year due to a high base from COVID-19 related demand[10]. - Profit attributable to equity holders was HKD 50,764,000, a decrease of 35% from HKD 110,350,000 in the previous year, excluding government wage subsidies[14][29]. - Total comprehensive income for the six months ended October 31, 2023, was HKD 46,253,000, compared to HKD 105,809,000 for the same period last year, representing a decrease of approximately 56.2%[74]. - Operating profit for the period was HKD 67,146,000, down from HKD 135,760,000 in the previous year, indicating a decrease of 50.6%[50]. - Basic earnings per share for equity holders was HKD 7.06, compared to HKD 15.37 in the previous year, reflecting a decrease of approximately 54.0%[74]. Revenue Breakdown - Revenue from the Hong Kong market was HKD 1,147,066,000, a decrease of 6.5% from HKD 1,227,140,000 in the previous year[21]. - Retail sales revenue, including consignment commission income, reached HKD 1,318,523,000, a decrease from HKD 1,365,174,000 in 2022/23, accounting for 99.7% of total revenue[37]. - Business revenue in Singapore increased by 10.3% year-on-year to SGD 26,500,000, up from SGD 24,036,000 in 2022/23[40]. - Revenue in Macau recorded HKD 21,821,000, down from HKD 24,469,000 in 2022/23, while maintaining profitability[41]. - Total revenue for the retail segment in Hong Kong and Macau was HKD 1,164,925,000, with a gross profit margin of 47.36%[130]. Cost and Expenses - Total employee costs for the year reached HKD 216,886,000, an increase from HKD 192,564,000 in 2022/23, with approximately 2,190 employees as of October 31, 2023, compared to 2,060 a year earlier[34]. - The total cash outflow for leases was HKD 213,042,000 for the six months ended October 31, 2023, compared to HKD 204,876,000 for the same period in 2022, indicating a year-over-year increase of about 3.4%[151]. - Interest expenses on lease liabilities for the six months ended October 31, 2023, were HKD 11,261,000, up from HKD 7,828,000 in the previous year, indicating a significant increase of 43.8%[169]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.056 per share[30]. - The company reported a dividend payment of HKD 71,925 thousand, compared to HKD 86,161 thousand in the same period last year, reflecting a decrease of 16.5%[78]. - The interim dividend declared was HKD 0.056 per share, totaling approximately HKD 40,315,000, a decrease from HKD 86,380,000 in the previous year[166]. Assets and Liabilities - Total assets amounted to HKD 1,774,251,000, slightly down from HKD 1,777,438,000, a decrease of about 0.9%[76]. - Total liabilities increased to HKD 895,071,000 from HKD 873,035,000, representing an increase of approximately 2.5%[76]. - Non-current assets increased to HKD 944,208,000 from HKD 893,674,000, marking an increase of about 5.6%[76]. - Cash and cash equivalents decreased to HKD 318,775,000 from HKD 402,310,000, indicating a reduction of approximately 20.8%[76]. Strategic Initiatives - The company plans to open new stores in potential markets such as Hong Kong, Singapore, and Macau, focusing on quality and value for middle-class customers[19][22]. - The company is enhancing global procurement and partnerships to launch affordable health and wellness products[22]. - The establishment of a new self-operated logistics and distribution center is expected to improve product delivery efficiency and support long-term business development[39]. - The company is launching a new online platform "JHCeshop" in November 2023 to enhance the online shopping experience and integrate inventory management between online and physical stores[67]. Market Outlook - The company remains cautiously optimistic about future growth opportunities in light of government measures to increase housing supply in Hong Kong[59]. - The company acknowledges the importance of technology for future success and plans to invest in tools that enhance productivity and reduce costs[68]. Financial Management - The company reported a foreign exchange loss of HKD 2,482,000 during the period, contributing to the overall decrease in comprehensive income[77]. - The company received government subsidies of approximately HKD 1,880,000 during the six months ended October 31, 2023, a significant decrease from HKD 32,681,000 in the same period of 2022[120]. - The company is evaluating the impact of new and revised accounting standards, with preliminary conclusions indicating no significant impact on operational performance or financial position[86].

Revenue Performance - Total revenue for the six months ended October 31, 2023, was HKD 1,322,485,000, a decrease of 4.6% from HKD 1,386,665,000 in the same period of 2022[11] - Revenue in Singapore increased by 10.3% year-on-year to SGD 26,500,000, up from SGD 24,036,000[25] - Revenue from Hong Kong, Singapore, and Macau for the six months ended October 31, 2023, was HKD 1,322,485,000, down from HKD 1,386,665,000 in the previous year[38] - Revenue from the Hong Kong market reached HKD 1,147,066,000, a decrease of 6.5% compared to the previous year due to high base effects from COVID-19 demand[93] - The company recorded revenue of HKD 21,821,000 from its Macau operations, down from HKD 24,469,000 in the previous year[107] Profitability - The operating profit for the six months was HKD 59,812,000, a decrease from HKD 129,495,000 in the same period last year[11] - Net profit for the period was HKD 48,920,000, down from HKD 109,866,000 in the previous year, representing a decline of 55.6%[11] - The group reported a profit attributable to equity holders of HKD 50,764,000 for the six months ended October 31, 2023, down from HKD 110,350,000 in the same period last year[43] - Profit attributable to equity holders of the company was HKD 50,764,000, a decrease of 35% from HKD 110,350,000 in the previous year[82] - The gross profit margin increased to 46.8% for the period, compared to 46.7% in 2022/23[78] Employee Costs - The total employee cost for the year was HKD 216,886,000, up from HKD 192,564,000 in the previous year, reflecting an increase of 12.6%[1] - Employee benefit expenses increased to HKD 216,886,000 from HKD 192,564,000 year-on-year[50] - The company employed approximately 2,190 staff as of October 31, 2023, an increase from 2,060 staff in the previous year[1] Market and Strategic Initiatives - The company plans to continue exploring new revenue sources by opening new stores in strategic locations, particularly in large shopping centers in Hong Kong[10] - The company aims to expand its health and wellness product offerings in response to increasing consumer demand for health-conscious products[10] - The group plans to introduce competitive OEM products from Hong Kong to diversify its product offerings[25] - The company aims to develop more competitive OEM products and enhance its own brand product lines to increase profitability[87] - The company is expanding its global supplier network, particularly in Japan and South Korea, to enhance product supply and meet market trends[87] Financial Position - The total equity as of October 31, 2023, was HKD 879,180,000, a decrease from HKD 904,403,000 as of April 30, 2023[13] - The group’s total liabilities amounted to HKD 895,071,000 as of October 31, 2023, compared to HKD 873,035,000 as of April 30, 2023[38] - The company’s total liabilities as of October 31, 2023, were HKD 240,285,000, compared to HKD 218,426,000 as of April 30, 2023, reflecting an increase of 10%[55] - Total assets as of October 31, 2023, amounted to HKD 1,774,251,000, a slight decrease from HKD 1,777,438,000 as of April 30, 2023[110] Cash Flow and Dividends - Cash and cash equivalents as of October 31, 2023, were HKD 318,775,000, down from HKD 402,310,000 as of April 30, 2023, primarily due to tax payments[99] - The company declared an interim dividend of HKD 0.056 per share, totaling approximately HKD 40,315,000, compared to HKD 86,380,000 for the interim dividend in the previous year[58] Operational Efficiency - The group aims to enhance operational efficiency through technology investments, including automated inventory replenishment and digital price tags[27] - The management emphasizes the need to improve operational efficiency and control costs to maintain competitiveness in a challenging market environment[97] - The logistics and distribution center restructuring caused temporary disruptions, but the new self-operated centers are expected to enhance procurement advantages and improve product delivery efficiency[128] - The company is continuously improving supply chain operations to enhance competitiveness and drive future growth[128] Challenges and External Factors - The group's revenue was impacted by decreased demand for pandemic-related supplies, post-pandemic travel habits in Hong Kong, and extreme weather conditions[128] - Increased employee costs led to a rise in operating expenses, affecting profitability[128] - The company is actively implementing effective measures to mitigate operational impacts from various external factors[128] Inventory Management - Inventory increased to HKD 385,040,000, up from HKD 360,188,000, reflecting a growth of about 6.5%[110] - The group is focused on optimizing inventory management and reducing costs through automation to enhance overall productivity[27]

Financial Performance - Retail sales revenue reached HKD 2,798,792,000, representing a slight decrease from HKD 2,892,753,000 in the previous year, maintaining 99.0% of total revenue[14] - The group's revenue for the year reached HKD 2,825,994,000, a decrease of 3.2% compared to the previous fiscal year due to high demand for anti-epidemic supplies during the fifth wave of COVID-19 in Hong Kong[166] - The annual profit amounted to HKD 181,875,000, an increase of 26.7% to HKD 149,938,000 when excluding the wage subsidy income from the Hong Kong government's "Employment Support Scheme"[153] - The gross profit margin rose to 46.4%, up from 45.7% in the previous year[154] - The total borrowings of the group decreased to HKD 13,381,000 from HKD 21,767,000 in the previous year, resulting in a debt-to-equity ratio of 2.26%[124] - Cash and cash equivalents stood at HKD 402,310,000, slightly down from HKD 416,923,000 in the previous year[156] - The group reported profitability across its major markets, including Hong Kong, Singapore, and Macau[155] - The company has maintained its dividend payout level despite challenges faced during the fiscal year[187] - The board proposed a final dividend of HKD 0.08 per share and a special dividend of HKD 0.02 per share, totaling HKD 0.10 per share, with a total dividend of HKD 0.22 per share for the year[156] Market Expansion and Strategy - Macau's revenue increased by 9.3% to HKD 50,878,000, driven by growth in food, beverage, and personal care product sales[15] - The company plans to continue expanding its retail network in Hong Kong, Singapore, and Macau, leveraging its established brand and supplier network[6] - The company is optimistic about the profitability prospects in the Singapore market and is exploring various ways to broaden revenue sources[17] - The company aims to explore new business opportunities and enhance its market position in the home goods retail sector[24] - The group continues to focus on expanding its FMCG supply, including food and beverages, personal care products, and household cleaning supplies, to strengthen its market share[130] - The company is focusing on expanding its health and wellness product lines, responding to increased consumer spending in this category post-pandemic[188] - The company plans to enhance its product offerings in travel-related accessories, anticipating sustained strong demand in the travel sector[188] Operational Efficiency and Innovation - The company aims to enhance operational efficiency and productivity while providing diverse and quality services to customers[2] - The logistics and distribution center restructuring is expected to improve overall distribution capacity for future business growth[7] - The company has restructured its logistics and distribution centers to improve supply chain efficiency, which is expected to enhance overall distribution capabilities for future business growth[196] - The company is investing in new technologies, including the implementation of a digital price tag system and expanding self-checkout machines across all stores to improve operational efficiency[198] - The company has integrated a "SAP ERP" system to enhance operational efficiency and productivity[198] - The group is committed to enhancing its operational systems through technology improvements[131] Leadership and Governance - The company reported a significant contribution from its co-founder and CEO, Ms. Wei, who has been instrumental in developing the business since its inception in 1991[24] - The company has established a solid foundation for further business expansion and market penetration, leveraging Ms. Wei's personal relationships and networks[24] - The company’s board includes experienced members such as Mr. Liu, who has over 40 years of experience in wholesale and retail, and has held senior positions in major retail companies[29] - The Chief Financial Officer, Mr. Zheng, has over 30 years of accounting and financial experience, ensuring robust financial management within the company[27] - The board's composition includes independent non-executive directors with extensive experience in retail and management, contributing to sound governance[28] - The independent non-executive directors have confirmed that the ongoing connected transactions are conducted on normal commercial terms and are fair and reasonable[95] Shareholder Information - The company reported a total of 724,023,000 shares issued as of April 30, 2023[51] - Hiluleka Limited holds 324,000,000 shares, representing 44.75% of the company's equity as of April 30, 2023[56] - David Michael Webb controls 50,603,000 shares, accounting for 6.99% of the company's equity[56] - The total equity held by Ms. Wei Lixia is 362,702,000 shares, representing 50.10% of the company[59] - Mr. Liu Baihui holds a total equity of 350,570,000 shares, which is 48.42% of the company[59] - The company has a commitment to transparency regarding shareholdings and interests of directors and senior management[52] Stock Options and Incentives - The company has granted options for a total of 280,000 shares that remain unexercised as of April 30, 2023[73] - The share options plan allows for a maximum of 10% of the total issued shares to be granted, equating to 72,000,000 shares, unless otherwise approved by shareholders[62] - As of the report date, 65,325,125 shares, or approximately 9.0% of the issued capital, are available for issuance under the share option plan[62] - The total number of stock options granted during the year was 2,265,000, with a weighted average closing price of HKD 2.588 per share prior to the vesting date[82] - The company has a stock reward plan that allows for a maximum of 5% of the issued share capital to be granted as stock rewards, with individual employees limited to a maximum of 1%[80] - The total number of stock rewards available for grant at the beginning and end of the year was approximately 13,467,450 shares and 11,255,150 shares, respectively, representing about 1.9% and 1.6% of the issued share capital[81] Challenges and Resilience - The company maintains a positive outlook for medium to long-term development despite challenges faced in the fourth quarter[8] - The company has implemented immediate measures to address labor shortages, including reviewing employee benefits and recruitment strategies[7] - The group demonstrated strong resilience during the COVID-19 pandemic, adapting and growing in a volatile market[200] - The strategy of providing a diverse range of essential goods at competitive prices proved effective in a fluctuating market[200] - Measures such as optimizing product mix, enhancing global product supply, and improving sales efficiency yielded positive results[200]

Financial Performance - The group's profit for the year reached HKD 181,875,000, an increase of 26.7% compared to the pre-pandemic fiscal year ending April 30, 2019, excluding government wage subsidies[1] - The group's annual revenue for the year ended April 30, 2023, was HKD 2,825,994,000, a decrease of 3.2% compared to the previous fiscal year due to a high base from the COVID-19 pandemic[18] - Annual profit attributable to shareholders was HKD 181,571, a decline of 17.8% from HKD 220,822 in the prior year[47] - The operating profit decreased to HKD 225,454, down 18.9% from HKD 278,115 in the previous year[47] - Total comprehensive income for the year ended April 30, 2023, was HKD 176,834,000, down from HKD 219,226,000 in the previous year, representing a decline of 19.2%[67] Revenue Breakdown - The group's revenue for the year was HKD 2,825,994,000, the second highest in history, with a gross margin of 46.4%, up from 45.7% in the previous year[5] - Revenue from the Hong Kong market reached HKD 2,485,838,000, representing a 4.5% real growth, with Hong Kong accounting for 88.0% of total group revenue[39] - In Singapore, revenue increased by 8.9% to HKD 289,278,000, with gross profit rising by 12.6% to HKD 124,576,000[41] - The group's Macau business recorded a revenue increase of 9.3% to HKD 50,878,000, driven by sales growth in food, beverages, and personal care products[14] Cash and Financial Position - The group's cash and cash equivalents stood at HKD 402,310,000 as of April 30, 2023, compared to HKD 416,923,000 on April 30, 2022[2] - The group maintained a strong financial position with cash and cash equivalents of HKD 402,310,000 as of April 30, 2023, compared to HKD 416,923,000 a year earlier[25] - The total assets as of April 30, 2023, amounted to HKD 1,777,438, an increase from HKD 1,738,760 in the previous year[49] - The total liabilities increased to HKD 873,035,000 as of April 30, 2023, compared to HKD 843,905,000 in 2022, marking a rise of 3.9%[70] Dividends - The group proposed a final dividend of HKD 0.08 per share and a special dividend of HKD 0.02 per share, totaling HKD 0.10 per share, resulting in a total dividend of HKD 0.22 per share for the year[20] - The total dividends for the year amount to HKD 158,302,000, down from HKD 191,784,000 in the previous year, reflecting a decrease of 17.5%[120] Operational Strategies - The group plans to continue developing its own brand products and expanding into new categories, including health and fitness, to maintain market competitiveness[6] - The group is enhancing its online platform services and expanding product offerings to provide a seamless shopping experience[9] - The group is focusing on developing OEM products to build brand loyalty and increase overall sales and profits[17] - The company plans to enhance operational efficiency through the implementation of a digital price tag system and expansion of self-checkout machines across all stores[46] Employee and Cost Management - The total employee cost for the year was HKD 421,958,000, an increase from HKD 405,825,000 in the previous year, with approximately 2,146 employees as of April 30, 2023[29] - Employee benefits expenses, including director remuneration, increased to HKD 421,958,000 in 2023 from HKD 405,825,000 in 2022, a rise of 4.0%[89] Market Outlook - The group is optimistic about future growth in the Singapore market and is exploring various ways to broaden its revenue sources[43] - The group aims to expand its retail network in Hong Kong, Singapore, and Macau, leveraging its established brand recognition and supplier network[28] Corporate Governance - The company has adopted all code provisions of the Corporate Governance Code as per the Listing Rules, emphasizing the importance of good corporate governance[140] - The company confirmed compliance with the standards set out in the Securities Transactions Code for directors for the fiscal year ending April 30, 2023[141] Miscellaneous - The company expressed gratitude to its employees for their hard work during the COVID-19 pandemic, highlighting their commitment to serving the public[143] - The company will publish its annual report for the fiscal year ending April 30, 2023, at an appropriate time, available on the Stock Exchange and the company's website[142]

Financial Performance - The group's revenue reached a record high of HKD 1,386,665,000, representing a growth of 5.5% compared to HKD 1,314,301,000 in the previous year[7]. - Adjusted profit increased by 10.3% to HKD 83,744,000, up from HKD 75,901,000 in the previous year, excluding COVID-19 related subsidies[8]. - The profit attributable to equity holders increased by 16.0% to HKD 110,350,000 for the period, compared to HKD 95,141,000 in 2021/22[29]. - The group's gross profit rose by 5.0% to HKD 646,953,000, up from HKD 616,416,000 in 2021/22[30]. - Net profit for the period was HKD 109,866,000, a rise of 14.3% from HKD 96,104,000 in the prior year[49]. - Operating profit increased to HKD 135,760,000, representing a growth of 13.6% compared to HKD 119,470,000 in the previous year[49]. - Basic earnings per share increased to HKD 15.37, up from HKD 13.26, reflecting a growth of 15.9%[49]. - The company reported a total comprehensive income of HKD 105,809,000 for the period, compared to HKD 96,365,000 in the previous year, indicating an increase of 9.5%[49]. Revenue Sources - Revenue from the Hong Kong market grew by 5.6% to HKD 1,227,140,000, with same-store sales increasing by 4.5%[21]. - In Singapore, revenue increased by 7.1% to SGD 24,036,000, with same-store sales growth of 13.8% despite a reduction in store count from 49 to 46[22]. - The group recorded revenue of HKD 24,469,000 from its Macau operations, an increase from HKD 22,726,000 in 2021/22[43]. - Retail sales revenue, including consignment commission income, reached HKD 1,365,174,000, representing 98.5% of total revenue, compared to 99.3% in 2021/22[39]. - Revenue for the six months ended October 31, 2022, was HKD 1,386,665,000, an increase of 5.5% from HKD 1,314,301,000 in the same period of 2021[49]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.12 per share, an increase of 14.3% compared to the previous special dividend of HKD 0.042 per share[9]. - The company declared an interim dividend of 12.0 HKD cents per share, totaling approximately HKD 86,380,000, compared to HKD 105,600,000 in the previous year[138]. Employee and Operational Costs - The total employee cost for the period was HKD 192,564,000, compared to HKD 187,603,000 in the previous year, with approximately 2,061 employees[18]. - Employee benefit expenses, including director remuneration, rose to HKD 192,564,000 from HKD 187,603,000, indicating an increase of about 2.1%[135]. - Short-term employee benefits increased to HKD 7,388,000 for the six months ended October 31, 2022, compared to HKD 7,111,000 in the same period of 2021, reflecting a growth of approximately 3.9%[199]. - Other long-term benefits rose significantly to HKD 718,000, up from HKD 405,000, marking an increase of approximately 77.3%[199]. Liquidity and Financial Position - The group’s liquidity ratio improved to 1.6, up from 1.5 in the previous period, with total borrowings at HKD 21,139,000[16]. - The group maintained a strong cash position with cash and cash equivalents amounting to HKD 468,846,000 as of October 31, 2022, up from HKD 416,923,000 on April 30, 2022[35]. - Cash and cash equivalents increased to HKD 468,846,000 from HKD 416,923,000, reflecting a growth of approximately 12.4%[51]. - Operating cash flow for the six months ended October 31, 2022, was HKD 310,881,000, a decrease from HKD 323,173,000 in 2021, representing a decline of approximately 3.9%[55]. Strategic Initiatives - The group is actively expanding its product range, including more fast-moving consumer goods and OEM products, to enhance sales and profit margins[14]. - The group plans to launch a new logistics distribution center in Hong Kong's Kwai Chung ATL Logistics Center in the first half of 2023 to improve supply chain operations[28]. - The company plans to continue expanding its retail network, particularly in newly developed residential areas and public housing projects in Hong Kong[58]. - The company aims to enhance its product categories by increasing offerings of fast-moving consumer goods and OEM products to drive sales and improve gross margins[63]. - The group aims to provide a seamless shopping experience by integrating online and offline inventory records and enhancing its e-commerce platform[44]. Market Performance and Outlook - The company maintains a positive outlook for medium to long-term growth, focusing on markets in Hong Kong, Singapore, and Macau, with plans to open new stores in high-potential areas[59]. - In Singapore, despite the removal of retail subsidies, the company reported improved performance compared to the same period last year, indicating resilience in this strategic market[61]. Financial Management and Accounting - The group’s financial risk management policies have not undergone any significant changes since the last fiscal year-end[88]. - The group has adopted revised accounting standards effective from May 1, 2022, with no significant impact on previously reported amounts[84]. - The group is currently evaluating the impact of new accounting standards that will become effective on January 1, 2023, with preliminary conclusions indicating no significant impact on operational performance[86]. - The group’s management has made significant judgments and estimates in preparing the interim financial information, consistent with the previous fiscal year[87]. Assets and Liabilities - Total assets as of October 31, 2022, were HKD 1,735,259,000, slightly down from HKD 1,738,760,000 at April 30, 2022[51]. - Total liabilities decreased from HKD 843,905,000 as of April 30, 2022, to HKD 816,773,000 as of October 31, 2022, representing a reduction of approximately 3.9%[102]. - Trade payables were HKD 183,524,000 as of October 31, 2022, compared to HKD 176,111,000 on April 30, 2022[155]. Customer and Market Insights - The company’s largest customer accounted for less than 10% of total revenue for the periods ended October 31, 2022, and 2021, indicating a diversified customer base[118]. - The group’s main market remains Hong Kong, contributing 88.5% to total revenue, slightly up from 88.4% in 2021/22[40].

Financial Performance - The group's revenue reached a record high of HKD 1,386,665,000, representing a growth of 5.5% compared to HKD 1,314,301,000 in the previous period[3] - Profit attributable to equity holders increased by 16.0% to HKD 110,350,000, up from HKD 95,141,000 in the previous period[4] - Adjusted profit, excluding COVID-19 related subsidies, grew by 10.3% to HKD 83,744,000, compared to HKD 75,901,000 in the previous period[4] - Gross profit rose by 5.0% to HKD 646,953,000, compared to HKD 616,416,000 in the previous period[5] - Operating profit increased to HKD 135,760 thousand, a rise of 13.6% from HKD 119,470 thousand in the previous year[30] - Net profit for the period was HKD 109,866 thousand, reflecting a year-on-year increase of 14.4% from HKD 96,104 thousand[30] - Basic earnings per share rose to HKD 15.37, compared to HKD 13.26 for the same period last year, marking an increase of 15.9%[30] - The company reported a total comprehensive income of HKD 105,809 thousand for the period, up from HKD 96,365 thousand in the previous year, representing a growth of 9.5%[30] Dividends - The board declared an interim dividend of HKD 0.12 per share, an increase of 14.3%[6] - The company declared an interim dividend of 12.0 HKD cents per share, totaling approximately HKD 86,380,000, compared to HKD 105,600,000 in the previous year[79] - The interim dividend represents an increase from the previous interim dividends of HKD 0.105 and special dividend of HKD 0.042 per share for the 2021/22 period[84] Cash and Assets - The group maintained a strong cash position with cash and cash equivalents amounting to HKD 468,846,000 as of October 31, 2022, up from HKD 416,923,000 on April 30, 2022[15] - Total assets as of October 31, 2022, were HKD 1,735,259 thousand, slightly down from HKD 1,738,760 thousand as of April 30, 2022[34] - Cash and cash equivalents increased to HKD 468,846 thousand from HKD 416,923 thousand, indicating a growth of 12.4%[32] - The group’s non-current assets (excluding intangible assets and deferred tax assets) totaled HKD 733,896 thousand as of October 31, 2022, down from HKD 801,575 thousand as of April 30, 2022, a decrease of about 8.4%[62] Market Performance - Retail sales revenue reached HKD 1,365,174,000, an increase of 4.6% from HKD 1,305,512,000 in the previous year, accounting for 98.5% of total revenue[21] - Revenue from the Hong Kong market grew by 5.6% to HKD 1,227,140,000, with same-store sales increasing by 4.5%[23] - Singapore revenue increased by 7.1% to SGD 24,036,000, despite a reduction in store count, with same-store sales growing by 13.8%[24] - Macau's revenue recorded HKD 24,469,000, up from HKD 22,726,000 in the previous year[24] - Wholesale and franchise income surged to HKD 21,491,000, up from HKD 8,789,000 in the previous year[22] Operational Developments - The group employed approximately 2,061 staff, with total employee costs amounting to HKD 192,564,000, compared to HKD 187,603,000 in the previous period[16] - The new logistics center in Kwai Chung is set to commence operations in the first half of 2023, aimed at enhancing supply chain capabilities[26] - The company is actively exploring new product categories such as food, 3C products, and smart living products to diversify its offerings[12] - The company aims to enhance its OEM product offerings to improve market penetration and contribute to revenue and gross margin[27] - The group continues to expand its global supplier network and enhance procurement across various product categories[11] - The company is actively expanding its global supplier network to reduce procurement costs and improve gross margins[26] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and emphasizes the importance of good corporate governance practices[81] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the period[82] - The company has confirmed compliance with the standard code for securities transactions by directors throughout the reporting period[83] - The chairman and CEO roles are currently held by the same individual, which the board believes is in the best interest of the company[81] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[37] - The group expects to continue evaluating new strategies for market expansion and product development in the upcoming periods[44] - The group is currently assessing the impact of new accounting standards effective from January 1, 2023, with an initial conclusion that they are not expected to have a significant impact on the group's financial performance[44] Miscellaneous - The company expresses gratitude to management, employees, customers, business partners, and shareholders for their support and trust[90] - The company will suspend share transfer registration from January 10 to January 13, 2023, to facilitate the payment of the interim dividend[88] - The interim results announcement for the six months ending October 31, 2022, will be published on the stock exchange and the company's website[89] - The group had no inter-segment sales for the six months ended October 31, 2022, indicating all reported revenue came from external customers[55]