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]

Financial Performance - The group's revenue increased by 8.5% to HKD 2,920,775,000 compared to HKD 2,692,460,000 in the previous fiscal year[27] - Gross profit rose by 9.7% to HKD 1,334,677,000, with a gross margin of 45.7% compared to 45.2% in the previous year[28] - Profit attributable to equity holders was HKD 220,822,000, down from HKD 254,918,000 in the previous year, which included HKD 70,999,000 from the government's employment support scheme[28] - Total operating expenses for the year were HKD 1,102,666,000, accounting for 37.8% of total revenue, down from 38.9% in 2020/21[73] - Retail sales revenue reached HKD 2,892,753,000, an increase of 8.0% from HKD 2,677,789,000 in 2020/21, representing 99.0% of total revenue[78] - The profit in the Hong Kong market for the year was HKD 213,681,000, down from HKD 241,092,000 in 2020/21, which included government wage subsidies of HKD 70,999,000[83] - Revenue from the Hong Kong market increased by 9.3% to HKD 2,608,532,000, with same-store sales growth of 6.7%[82] - In Singapore, revenue grew by 2.7% to HKD 265,698,000, with gross profit increasing by 7.6% to HKD 110,686,000, compared to HKD 258,788,000 and HKD 102,914,000 respectively in 2020/21[85] Dividends - The board proposed a final dividend of HKD 0.12 per share, totaling an annual dividend of HKD 0.267 per share, up from HKD 0.242 in the previous year[29] - The total dividend for the year was HKD 26.7 cents per share, up from HKD 24.2 cents per share in 2020/21, with a total payout of approximately HKD 191,784,000[90] - The interim and special dividends were HKD 10.5 cents and HKD 4.2 cents per share respectively, totaling around HKD 105,623,000[90] Market Performance - Same-store sales growth in Hong Kong was 6.7%, compared to 4.4% in the previous year[30] - The group continued to achieve profitability in its three major markets: Hong Kong, Singapore, and Macau[29] - Revenue from the Macau market was HKD 46,545,000, slightly down from HKD 47,320,000 in 2020/21, indicating stable performance[84] - Hong Kong continues to be the company's primary market, accounting for 89.3% of total revenue, up from 88.6% in 2020/21[83] Cash and Assets - Cash and cash equivalents stood at HKD 416,923,000, slightly down from HKD 428,459,000 in the previous year[30] - Total assets increased to HKD 1,738,760,000 from HKD 1,737,618,000 in the previous year[30] - The group's total borrowings amounted to HKD 21,767,000 as of April 30, 2022, compared to HKD 19,078,000 in the previous year, with a leverage ratio of 3.2%[69] - The group maintained a current ratio of 1.5, consistent with the previous year[69] Business Strategy and Development - The company aims to transform into a full-channel retail chain convenience store (GMS) to enhance customer convenience and increase foot traffic[62] - The company has expanded its product offerings to include fast-moving consumer goods, such as food and personal care items[49] - The company is focusing on the development of OEM products to expand market penetration and enhance revenue contribution[62] - The company has established a strong partnership with major third-party e-commerce operators like foodpanda mall and Yoho to stimulate e-commerce business[62] - The company plans to offer a wider range of durable and large items through its electronic platform to create a one-stop shopping experience[63] - The company is focused on monitoring procurement prices and controlling operating expenses to maintain profitability[83] - The company aims to explore new business opportunities and expand into new markets, leveraging established personal relationships and networks[103] Employee and Management - The group employed approximately 2,140 staff as of April 30, 2022, down from 2,391 staff in the previous year, with total employee costs of HKD 405,825,000[77] - The company is committed to maintaining a dedicated employee team to ensure operational success and prepare for new initiatives and challenges[63] - The management team includes experienced professionals with over 25 years in retail management and over 20 years in consumer goods and beauty industry management[121][122] Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring over one-third independence[174] - The company aims to ensure effective corporate governance through regular training and updates for all directors[181] - The audit committee is responsible for recommending the appointment and remuneration of external auditors, ensuring their independence and effectiveness[189] - All independent non-executive directors have confirmed their independence according to the relevant listing rules[175] Shareholder Information - The company reported a total equity of 346,320,000 shares, representing 47.90% ownership by Mr. Liu Baifai as of April 30, 2022[125] - Ms. Wei Lixia holds a total equity of 357,426,000 shares, which accounts for 49.44% ownership, including 21,970,000 personal shares and 324,000,000 shares through controlled corporations[125] - The company has a total of 722,969,000 shares issued as of April 30, 2022, which is the basis for calculating the ownership percentages[125] Related Party Transactions - The company has not entered into any significant transactions with related parties during the year, aside from those disclosed in the annual report[155] - The company has confirmed that the ongoing related party transactions are conducted on normal commercial terms and are fair and reasonable[162] - The independent auditor has issued an unqualified opinion on the group's ongoing related party transactions as disclosed in the annual report[162]

Financial Performance - The group's revenue increased by 8.5% year-on-year, reaching HKD 2,920,775,000 (2020/21: HKD 2,692,460,000) [2] - Gross profit rose by 9.7% to HKD 1,334,677,000, with a gross margin of 45.7% (2020/21: 45.2%) [2] - Profit attributable to equity holders was HKD 220,822,000, down from HKD 254,918,000 in the previous year, which included HKD 70,999,000 from the government's employment support scheme [2] - Retail sales revenue reached HKD 2,892,753,000 for the year, representing an 8.0% increase from HKD 2,677,789,000 in the previous year, driven by same-store sales growth and increased average transaction value [18] - The company reported a net profit of HKD 220,318 for the year, down from HKD 257,842 in the previous year, indicating a decrease of approximately 14.5% [31] - The group reported a net profit of HKD 257,842,000 for the year ended April 30, 2022, compared to HKD 287,698,000 in 2021, indicating a decrease of approximately 10.4% [50] Store Operations - The group operates a retail network of 384 stores across Hong Kong, Singapore, Macau, Malaysia, Cambodia, and Australia [6] - The group operates a total of 384 stores across Hong Kong, Singapore, Macau, Malaysia, Cambodia, and Australia as of April 30, 2022, a slight decrease from 385 stores in the previous year [14] - The group plans to continue expanding its store network in Hong Kong, particularly in new residential areas and public housing developments [14] Market Performance - Same-store sales growth in Hong Kong was 6.7%, compared to 4.4% in the previous year [10] - The Hong Kong market generated revenue of HKD 2,608,532,000, a 9.3% increase from HKD 2,386,352,000 in the previous year, with same-store sales growth of 6.7% [19] - In Singapore, revenue grew by 2.7% to HKD 265,698,000, with gross profit increasing by 7.6% to HKD 110,686,000 [22] - The group’s revenue from Singapore was HKD 265,698,000 for the year ended April 30, 2022, compared to HKD 258,788,000 in 2021, reflecting a growth of approximately 2.3% [66] Dividends and Shareholder Returns - The group proposed a final dividend of HKD 0.12 per share, totaling HKD 0.267 per share for the year, up from HKD 0.242 per share in the previous year [3] - The company declared an interim dividend of HKD 214,661,000 for 2022, which is HKD 29.9 per share, compared to HKD 143,518,000 or HKD 20.0 per share in 2021 [75] - Proposed final dividend for the year ended April 30, 2022, is HKD 12.0 per share, totaling approximately HKD 86,161,000, not yet recognized in the financial statements [75] Expenses and Liabilities - Total operating expenses accounted for 37.8% of revenue, down from 38.9% in the previous year [10] - Total expenses for the year ended April 30, 2022, amounted to HKD 2,688,764,000, an increase of 6.5% from HKD 2,523,853,000 in 2021 [4] - Total liabilities as of April 30, 2022, were HKD 843,905,000, slightly down from HKD 844,322,000 in 2021 [35] - Current liabilities totaled HKD 612,419,000, compared to HKD 617,718,000 in the previous year [35] Cash and Assets - The group maintained a cash and cash equivalents balance of HKD 416,923,000, compared to HKD 428,459,000 in the previous year [8] - The total assets as of April 30, 2022, amounted to HKD 1,738,760, slightly up from HKD 1,737,618 in 2021 [33] - Non-current assets (excluding intangible assets and deferred tax assets) totaled HKD 801,575,000 as of April 30, 2022, compared to HKD 784,423,000 in 2021, showing a slight increase [66] Strategic Initiatives - The group has increased the proportion of OEM products to capture more market opportunities [7] - The company aims to enhance its e-commerce capabilities by launching the Easy Buy platform in Singapore and relocating its warehouse to improve distribution efficiency [22] - The company plans to improve logistics efficiency through closer collaboration with suppliers and expand its product range on the JHC electronic platform [26] - The company is transitioning to a full-channel retail model, leveraging its extensive retail network to increase customer traffic and convenience [26] Corporate Governance - The company has adopted all provisions of the corporate governance code as per the listing rules, ensuring high standards of corporate governance [86] - The audit committee reviewed the consolidated financial statements for the year ended April 30, 2022, confirming consistency with the preliminary results announcement [88] Employee Information - The group employed approximately 2,140 employees as of April 30, 2022, a decrease from 2,391 employees in the previous year, with total employee costs amounting to HKD 405,825,000 [15]