Financial Performance - In 2022, the Group's revenue was approximately HKD 1,650.5 million, a decrease from HKD 2,266.9 million in 2021, representing a year-over-year decline of 27.1%[17]. - The gross profit for the year ended December 31, 2022, was HKD 1,182.5 million, compared to HKD 1,960.5 million in 2021, indicating a decline of 39.7%[19]. - The profit attributable to owners of the company for 2022 was a loss of HKD 51.2 million, compared to a profit of HKD 151.2 million in 2021[21]. - The Group's revenue for the year ended December 31, 2022, decreased by 19.25% to HK$1,334,269,000 compared to the previous year[55]. - Loss attributable to owners of the Company was approximately HK$51,239,000, an increase from HK$27,485,000 in the prior year[55]. - Total retail sales of consumer goods decreased by 0.2% year-on-year, with garment sales falling by 6.5%[54]. - Retail sales revenue was HK$877,155,000, accounting for 65.74% of total revenue, representing a decrease of 28.42% from the prior year[82]. - Revenue from e-commerce platforms increased by 14.21% to HK$411,478,000, making up 30.84% of total revenue, driven by increased consumer reliance on online shopping during the pandemic[82]. Retail Network and Sales - As of December 31, 2022, the Group had a total of 1,084 retail outlets, including 915 concessionary counters and 169 retail shops in Mainland China, Hong Kong, and Macau[10]. - The Group's retail network saw a net decrease of 167 retail outlets, retaining 1,084 outlets with higher sales efficiency, covering over 350 cities in China[42]. - The proportion of sales from Mainland China was 96.5% in 2022, slightly down from 97.0% in 2021[14]. - The lingerie segment represented 85.0% of total sales in 2022, down from 86.3% in 2021[15]. - The Group's concessionary counters saw a decrease in sales contribution to 56.7% in 2022, down from 63.6% in 2021[12]. - The Embry Form brand accounted for 52.3% of total sales in 2022, an increase from 49.6% in 2021[13]. Strategic Initiatives - The Group plans to continue expanding its retail network to capture growing opportunities in major cities across China[9]. - The Group adopted cost control measures and implemented flexible production in response to the challenging operating environment due to the pandemic[38]. - The Group strategically adjusted its store network to optimize the integration of online and offline sales channels[70]. - The Group launched a series of 'China-chic' underwear products, aligning with cultural trends and collaborating with young artists[65]. - The Group enhanced brand competitiveness through a multi-brand strategy, focusing on seven brands including EMBRY FORM and FANDECIE[59]. - The Group plans to explore segmented markets and leverage e-commerce growth to expand its market share in the online retail sector[119]. Corporate Governance - The Company emphasizes good corporate governance practices as essential for effective management and sustainable business growth[152]. - The Board has adopted the Corporate Governance Code from the Hong Kong Stock Exchange as its governance practices[153]. - The Company complied with all applicable provisions of the Corporate Governance Code during the year ended December 31, 2022[154]. - The Board consists of four Executive Directors and three Independent Non-Executive Directors, ensuring a balance of skills and experience[167]. - Independent Non-Executive Directors represent more than one-third of the Board, enhancing its independence and objectivity[168]. - The Company has established mechanisms to ensure independent views are available to the Board[185]. Management and Workforce - The management team includes individuals with extensive experience in strategic management and research and development, enhancing the company's innovation capabilities[137][138]. - Overall workforce gender ratio is 93.7% female and 6.3% male, with 4,298 total employees[176]. - Senior management consists of 50% female and 50% male[176]. - The Company aims for at least one-third of the Board members to be Independent Non-Executive Directors[177]. Market Conditions and Future Outlook - Looking ahead to 2023, the domestic economy is expected to see a mixed recovery, with the consumer sector anticipated to take time to fully recover[45]. - The group expects a mixed recovery in the overall economy in the first half of 2023, with the consumer sector's full recovery taking time due to the uncertain global economic environment[117]. - China's GDP growth in 2022 was 3.0%, lower than the expected 5.5%, impacting the retail consumer market[54]. Awards and Recognition - EMBRY FORM received the Hong Kong Top Brand award from 2007 to 2022, indicating strong brand recognition in the market[129]. - The group received multiple awards for excellence in tax payment, innovation in knitted underwear, and quality in product and service[125][127]. - Embry (Shandong) Garments Limited was recognized as a National Green Factory by the Ministry of Industry and Information Technology of the People's Republic of China[129].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 EMBRY HOLDINGS LIMITED 安莉芳控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號：1388) 公佈截至二零二二年十二月三十一日止全年度業績 業績摘要 二零二二年 二零二一年 變動 (千港元) (千港元) 收益 1,334,269 1,652,408 -19.25% 毛利 1,001,249 1,205,702 -16.96% 毛利率 75.04% 72.97% 2.07百分點 擁有人應佔年度虧損 (51,239) (27,485) -86.43% 虧損率 (3.84%) (1.66%) -2.18百分點 (港仙) (港仙) 每股基本虧損 (12.13) (6.51) -86.33% 每股攤薄虧損 (12.13) (6.51) -86.33% ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 742.5 million, a decrease of 16.7% compared to HKD 891.1 million for the same period in 2021[10] - Gross profit for the same period was HKD 563.7 million, down from HKD 655.5 million, reflecting a gross margin decline[10] - The net profit attributable to shareholders for the six months was HKD 1.1 million, a significant drop from HKD 33.0 million in the prior year[10] - The company reported a loss in other comprehensive income of HKD 85.5 million, compared to a gain of HKD 39.2 million in the previous year[11] - For the six months ended June 30, 2022, the company reported total revenue of HKD 4,224 million, a decrease from HKD 4,224 million in the same period last year[20] - The net cash flow from operating activities for the six months ended June 30, 2022, was HKD 102,874 million, compared to HKD 108,702 million for the same period in 2021, indicating a decline of approximately 5.5%[27] - The company reported a net profit attributable to shareholders of HKD 2,136 million for the six months ended June 30, 2022, compared to HKD 2,512 million in the same period last year, representing a decrease of approximately 15%[20] - The company reported a decrease in total comprehensive income for the period, amounting to HKD 1,116 million, down from HKD 1,734 million in the same period last year[20] - Profit attributable to the company's owners was approximately HKD 1,116,000, a significant decrease from HKD 32,956,000 in the previous period[93] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 2,876.7 million, down from HKD 2,968.2 million at the end of 2021[16] - The company's net asset value decreased to HKD 2,432.3 million from HKD 2,516.3 million at the end of 2021[16] - Non-current liabilities totaled HKD 444.4 million, slightly down from HKD 451.9 million at the end of 2021[16] - The company’s total liabilities decreased to HKD 2,428,112 million as of June 30, 2022, from HKD 2,512,049 million at the end of the previous year, indicating a reduction of approximately 3.3%[20] - The company’s bank loans as of June 30, 2022, totaled HKD 327,472,000, a decrease from HKD 346,482,000 as of December 31, 2021[72] Cash and Cash Equivalents - The company maintained a cash and cash equivalents balance of HKD 403.4 million as of June 30, 2022, compared to HKD 378.6 million at the end of 2021[15] - The company’s cash and cash equivalents increased by HKD 44,125 million during the period, compared to a decrease of HKD 39,312 million in the same period last year[27] Market Outlook and Strategy - The management indicated a cautious outlook for the second half of 2022 due to ongoing market challenges[10] - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[10] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[21] - The company plans to adapt its business strategy to the changing economic environment and focus on expanding its online retail market share[126] - The outlook for the second half of 2022 anticipates a recovery in the domestic retail market, although full recovery in the consumer sector is expected to take time[126] Revenue Breakdown - Revenue from retail stores was HKD 427,691,000 for the six months ended June 30, 2022, down from HKD 581,302,000 in 2021, representing a decline of 26.4%[40] - Revenue from the brand "Anlifang" was HKD 389,955,000 for the six months ended June 30, 2022, compared to HKD 433,841,000 in 2021, reflecting a decrease of 10.1%[42] - Retail revenue amounted to HKD 495,138,000, down 26.70%, accounting for 66.68% of total revenue, while e-commerce sales increased by 25.79% to HKD 221,468,000, representing 29.83% of total revenue[106] Employee and Management Costs - Employee costs totaled HKD 247,144,000, down from HKD 278,372,000 in the same period last year, with the number of employees reduced to approximately 4,805[105] - Total remuneration paid to key management personnel was HKD 6,451,000, down from HKD 9,335,000 in the previous year, reflecting a reduction of approximately 30.4%[58] Shareholder Information - The company reported a total of 143,041,031 ordinary shares held by Harmonious World Limited, representing a significant ownership stake[154] - Sinowide Investments Limited holds 30,000,000 ordinary shares, indicating a strong position in the company's equity[154] - The total percentage of shares held by major shareholders exceeds 5% of the company's issued share capital, indicating concentrated ownership[153] Compliance and Governance - The independent auditor reviewed the interim financial statements in accordance with the Hong Kong Accounting Standards, specifically HKAS 34[175] - The company confirmed compliance with all applicable corporate governance code provisions during the reporting period[172] - The report emphasizes the importance of shareholder transparency and compliance with regulatory requirements[167]

Embry Form EMBRY HOLDINGS LIMITED 安 莉 芳 控 股 有 限 公 司 於開曼群島註冊成立之有限公司 | --- | --- | --- | --- | |-----------------|-------|-------|-------| | | | | | | 股份代號 : 1388 | | | | | | | | | 目錄 2 公司資料 未經審核簡明綜合財務報表 3 收益表 4 全面收益表 5 財務狀況表 7 罐益變動表 9 現金流量表 10 簡明綜合財務報表附註 26 管理層討論及分析 36 其他資料 43 獨立審閱報告 公司資料 健倫中心2期7樓 | --- | --- | |---------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The Group's total revenue for the year ended December 31, 2020, was approximately HKD 2,339.5 million, a decrease from HKD 2,451.9 million in 2019, representing a decline of 4.6%[10]. - The Group's turnover for the year was HK$1,650,483,000, a decrease of 27.19% compared to the previous year[32]. - The Group's revenue for the year ended December 31, 2020, decreased by 27.19% to HKD 1,650,483,000, with a gross margin decline of 6.12 percentage points to 71.64%[51]. - Gross profit was approximately HK$1,182,487,000, with a gross profit margin of 71.64%[32]. - The loss attributable to owners of the Company was HK$2,824,000, resulting in a negative profit margin of 0.17%[32]. - The loss attributable to owners of the Company was HK$2,824,000 for the Current Year, compared to a profit of HK$80,322,000 in the Prior Year, reflecting a significant decline in operating income[94]. - Profit attributable to equity holders, excluding non-operating expenses, decreased by 7.67% to HK$79,635,000 from HK$86,246,000 compared to last year[94]. - Other income increased by 54.43% to HK$71,485,000, mainly due to an exchange gain of HK$11,536,000[83]. - Selling and distribution expenses decreased by 32.19% to HK$958,518,000, accounting for 58.07% of Group's revenue[88]. - Administrative expenses decreased by 26.97% to HK$172,840,000, accounting for 10.47% of Group's revenue[88]. - Total staff costs for the Current Year were HK$474,759,000, decreasing by 33.38% year-on-year[72]. - The impairment of right-of-use assets and other expenses amounted to HK$82,459,000, primarily due to weak retail sales performance impacted by the COVID-19 pandemic[92]. Retail Operations - As of December 31, 2020, the Group operated a total of 1,398 retail outlets, including 1,177 concessionary counters and 221 retail shops in Mainland China, Hong Kong, and Macau[6]. - The number of retail outlets net decreased by 266, maintaining a total of 1,398 outlets across over 380 cities in China[31]. - The concessionary counters contributed 62.2% to total sales in 2020, down from 70.3% in 2019, indicating a shift in sales strategy[7]. - Retail sales revenue was HK$1,203,246,000, accounting for 72.90% of total revenue, and decreased by 34.84% from the Prior Year[74]. - Revenue from the Mainland China market was HK$1,595,581,000, accounting for 96.67% of total revenue[75]. - Sales of lingerie decreased by 27.58% to HK$1,435,914,000, accounting for 87.0% of Group's revenue[80]. E-commerce Growth - Online sales increased significantly to 26.3% of total sales in 2020, up from 18.3% in 2019, highlighting the growing importance of e-commerce[7]. - Online sales grew steadily, with revenue increasing by 18.91% year-on-year[31]. - The online business continued to grow steadily, with revenue increasing by 18.91% year-on-year[36]. - The Group continued to enhance its online market presence by designing specialized products to attract potential customers and expand its network coverage[61]. Strategic Initiatives - The company continues to implement a multi-brand strategy to cater to diverse customer preferences, enhancing its market reach[4]. - The Group implemented a multi-brand strategy, operating seven brands, with a focus on maintaining brand influence and market share despite weak consumer sentiment[50]. - Future outlook includes further expansion of the retail network and increased focus on online sales channels to capture growing consumer demand[6]. - The Group aims to optimize its supply chain and production capacity to balance inventory levels and maximize operational efficiency[42]. - The Group plans to continue adjusting its multi-brand strategy and product mix to better align with consumer preferences and market demand[109]. - The Group aims to enhance production and delivery efficiency by leveraging its self-production model and a newly established intelligent material warehouse, optimizing the supply chain to better meet market demands[112]. Corporate Governance - The Company emphasizes good corporate governance practices as essential for effective management and sustainable business growth[149]. - The Company has adopted the Corporate Governance Code from the Stock Exchange as its own governance practices[150]. - The Directors believe the Company complied with all applicable code provisions under the CG Code during the year ended December 31, 2020[151]. - The Board consists of 5 Executive Directors and 3 Independent Non-Executive Directors, ensuring a diverse governance structure[152]. - A board diversity policy has been established to maintain a diverse Board, considering factors such as gender, age, and professional experience[155]. - The current structure of the Board is designed to ensure independence and objectivity, providing checks and balances to protect shareholder interests[159]. - The Company has a diversity policy for Board members, considering factors such as gender, age, cultural background, and professional experience[158]. - The Company maintains a commitment to appointing Directors based on merit while considering the benefits of diversity[158]. Management and Leadership - The Group's executives have extensive experience in the lingerie industry, with leadership spanning over 40 years[122][123]. - Ms. Cheng Pik Ho Liza has over 28 years of experience in the lingerie industry and has been with the Group since 1993[127]. - Mr. Cheng Chuen Chuen is responsible for the research and development center and has over 24 years of experience in technological research and development[131]. - Ms. Lu Qun has over 41 years of experience in management and administration, focusing on strategic management and marketing in Mainland China[132]. - Mr. Lau Siu Ki has been an independent non-executive director since November 2006 and is the chairman of the Audit Committee[138]. Community Engagement - The Group donated RMB1 million worth of thermal underwear to support Wuhan medical staff during the epidemic[27]. Future Outlook - The management remains optimistic about recovery in consumer spending and market conditions post-pandemic, guiding for gradual sales improvement in the upcoming year[6]. - The outlook for 2021 remains challenging due to geopolitical uncertainties and the fluctuating COVID-19 situation, affecting consumer markets[103]. - The Group anticipates that the market will take time to fully recover, focusing on maintaining competitiveness through a multi-brand strategy and adjusting product offerings to attract a diverse customer base[111].

Financial Performance - For the six months ended June 30, 2020, the company reported revenue of HKD 784.96 million, a decrease of 34.6% compared to HKD 1,199.36 million in the same period of 2019[5]. - Gross profit for the same period was HKD 558.94 million, down 40.2% from HKD 934.75 million year-on-year[5]. - The company recorded a loss attributable to shareholders of HKD 38.71 million, compared to a profit of HKD 67.40 million in the prior year, representing a significant decline[5]. - Basic and diluted loss per share was HKD 9.16, compared to earnings of HKD 15.96 per share in the previous year[5]. - Total revenue from customer contracts decreased to HKD 784,956,000 in 2020 from HKD 1,199,358,000 in 2019, representing a decline of approximately 34.6%[23]. - The group's revenue for the period was HKD 784,956,000, a decrease of 34.55% compared to the previous period, primarily due to the weak consumer sentiment caused by the pandemic[71]. - Retail revenue amounted to HKD 549,304,000, accounting for 69.98% of total revenue, down 44.64% from the previous period[71]. - The group recorded a gross profit of approximately HKD 558,940,000, a decrease of 40.20%, with a gross profit margin of 71.21%, down 6.73 percentage points year-on-year[75]. - The group reported a loss attributable to shareholders of HKD 38,713,000, compared to a profit of HKD 67,399,000 in the previous period[78]. Cash Flow and Liquidity - The net cash flow from operating activities for the six months ended June 30, 2020, was HKD 236,622,000, compared to HKD 95,476,000 for the same period in 2019, representing a significant increase[14]. - The total cash and cash equivalents at the end of the period was HKD 361,091,000, up from HKD 214,305,000 at the end of June 2019, showing strong liquidity[14]. - As of June 30, 2020, the group's cash and cash equivalents amounted to approximately HKD 361,091,000, an increase from HKD 200,230,000 as of December 31, 2019[79]. - The net cash outflow from investing activities was HKD 19,903,000, a decrease from HKD 65,456,000 in the previous year, indicating improved investment efficiency[14]. - The net cash outflow from financing activities was HKD 44,198,000, compared to a net inflow of HKD 25,349,000 in the prior year, reflecting changes in financing strategy[14]. Assets and Liabilities - Total assets as of June 30, 2020, were HKD 3,882.68 million, down from HKD 3,505.89 million as of December 31, 2019[9]. - Current liabilities decreased to HKD 429.10 million from HKD 498.61 million at the end of 2019, indicating improved liquidity management[9]. - The company’s net asset value was HKD 715.58 million, an increase from HKD 669.89 million at the end of 2019[9]. - Non-current assets totaled HKD 2,167.01 million, down from HKD 2,336.00 million at the end of 2019, reflecting a reduction in long-term investments[8]. - The total accounts receivable as of June 30, 2020, was HKD 82,089,000, an increase from HKD 79,814,000 as of December 31, 2019[46]. - The aging analysis of accounts payable showed a total of HKD 35,838,000 as of June 30, 2020, down from HKD 52,723,000 as of December 31, 2019[48]. - The company’s bank borrowings amounted to HKD 561,904,000 as of June 30, 2020, compared to HKD 524,472,000 as of December 31, 2019[51]. - Other payables were reported at HKD 81,659,000 as of June 30, 2020, slightly up from HKD 80,557,000 as of December 31, 2019[53]. - Contract liabilities, which represent the total transaction price allocated to unsatisfied performance obligations, were HKD 27,397,000 as of June 30, 2020, down from HKD 29,334,000 as of December 31, 2019[54]. Operational Changes and Strategies - The management indicated a focus on cost control and exploring new market opportunities to recover from the current downturn[6]. - The company plans to continue optimizing its sales network by closing underperforming stores to enhance overall operational efficiency[65]. - The company is accelerating its digital transformation to analyze consumer habits and improve online market coverage[65]. - The group aims to integrate online and offline retail channels to adapt to changing consumer behaviors post-pandemic[86]. - The company plans to enhance manufacturing efficiency and production flexibility to better respond to market demand fluctuations[86]. Impact of COVID-19 - The company recognized a rental reduction of HKD 6,866,000 due to COVID-19, which was accounted for as variable lease payments[21]. - The COVID-19 pandemic caused China's GDP to decline by 6.8% in Q1 2020, with a slight recovery of 3.2% in Q2, resulting in a 1.6% decline for the first half of the year[60]. - The group anticipates a slow recovery in the lingerie market due to the ongoing impact of the pandemic on consumer behavior and investment confidence[86]. Management and Governance - The company did not declare an interim dividend for the six months ended June 30, 2020, compared to an interim dividend of HKD 0.02 per share totaling approximately HKD 8,448,000 for the same period in 2019[42]. - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[105]. - The independent auditor did not identify any matters that would lead to a belief that the financial statements were not prepared in accordance with Hong Kong Accounting Standards[109].

Retail Network and Market Presence - As of December 31, 2019, the Group had a total of 1,664 retail outlets, including 1,382 concessionary counters and 282 retail shops in Mainland China, Hong Kong, and Macau[8] - The Group's market penetration strategy includes an extensive sales network covering major cities such as Beijing, Shanghai, and Guangzhou, enabling efficient customer response[7] - The number of retail outlets decreased by 173 to 1,664 as of December 2019, covering over 380 cities in China[32] - The Group continues to review and strategically adjust its sales network coverage to cope with market changes, closing or resetting underperforming stores[65] Financial Performance - The Group's revenue for the year ended December 31, 2019, was 2,216.1 million, a decrease from 2,339.5 million in 2018, reflecting a compound annual growth rate (CAGR) of -2.76%[11] - The Group's turnover for the year was HK$2,266,867,000, a decrease of 7.55% compared to the previous year[33] - For the year ended December 31, 2019, the Group's revenue decreased by 7.55% to HK$2,266,867,000, with a gross profit margin of 77.76%, down by 2.18 percentage points[54] - Profit attributable to owners of the Company was HK$80,322,000, resulting in a net profit margin of 3.54% and earnings per share of HK19.01 cents, compared to HK35.79 cents in 2018[54] - Net profit attributable to owners decreased by approximately 46.86% to HK$80,322,000, with a net profit margin of 3.54%[91] Product and Sales Strategy - The Group's online sales and wholesale accounted for 11.2% and 18.3% of total revenue in 2019, compared to 9.7% and 15.8% in 2018, respectively[11] - The Group aims to deepen its market penetration in China through a consumer-centric sales strategy and omni-channel retailing[4] - The Group is expanding into online sales channels to optimize its sales network[19] - The multi-brand strategy aims to cater to consumers in different-tiered cities and varying income levels[30] - The Group's diversified product portfolio includes lingerie, sleepwear, and swimwear, with respective revenue contributions of 45.5%, 24.7%, and 3.9% in 2019[11] Economic and Market Conditions - In 2019, China's economy grew at its weakest pace since 1990, reporting a growth rate of 6.1%[22] - The retail consumption sentiment has turned more cautious due to the economic slowdown, affecting the lingerie industry[22] - The overall retail market, particularly for non-essential goods, is expected to remain sluggish amid uncertainties from the global economic recovery[34] - The International Monetary Fund lowered the global growth forecast for 2020 to 3.2% and for China to 5.6%[106] Research and Development - The Group's research and development capability is crucial for success in an increasingly segmented market[29] - The Group is committed to investing in product research and development to enhance product quality and meet consumer demand[68] - The Group obtained 17 new patents in 2019, including 12 utility model patents and 5 appearance design patents[71] - The company has over 23 years of experience in research and development related to production and manufacturing technology, processes, and equipment[133] Corporate Governance and Management - The Company has adopted the Corporate Governance Code as its own code of corporate governance practices[148] - The Board consists of five Executive Directors and three Independent Non-Executive Directors, with Independent Non-Executive Directors representing more than one-third of the Board[159] - The Company has established a clear division of responsibilities between the Chairman and the Chief Executive Officer to avoid concentration of power[195] - The management team includes independent non-executive directors with extensive backgrounds in finance and law, ensuring robust governance[136][138] Impact of COVID-19 - The Group has temporarily suspended operations in various shops due to the COVID-19 outbreak, which is expected to significantly impact results this year[107] - The Group has temporarily closed multiple stores in affected provinces, anticipating a significant negative impact on this year's performance[109] - The Group established an anti-epidemic fund of RMB1 million to support staff affected by the epidemic[108] - The Group expects a global economic growth rate of 3.2% for 2020, with China's growth forecast reduced to 5.6% due to the impact of COVID-19[109] Marketing and Brand Awareness - The Group's brands, EMBRY FORM and IVU, sponsored the 2019 IMC Shanghai International Model Contest, enhancing brand awareness through media coverage from about forty platforms[61] - The Group leveraged new media for online promotions, utilizing fashion influencers to enhance brand image and reputation globally[63] - The company has received accolades for its marketing and brand value at the 2019 China (Shenzhen) International Brand Underwear Exhibition[123] Operational Efficiency - The Group plans to adopt a prudent approach in production planning and adjust inventory levels due to lowered market demand caused by the epidemic[40] - The intelligent warehouse in Shandong is expected to enhance supply chain integration and improve production efficiency in the long run[112] - The Group is focusing on improving operational efficiency by controlling new store openings and closing underperforming stores[112]

Financial Performance - Revenue for the six months ended June 30, 2019, was HKD 1,199,358,000, a decrease of 11.4% compared to HKD 1,354,425,000 in the same period of 2018[8] - Gross profit for the same period was HKD 934,752,000, down 13.7% from HKD 1,082,288,000 year-on-year[8] - Profit attributable to owners of the company was HKD 67,399,000, a decline of 42.0% from HKD 116,195,000 in the previous year[10] - Basic earnings per share decreased to HKD 15.96 from HKD 27.51, representing a drop of 42.0%[8] - The company reported a total comprehensive income of HKD 67,506 for the six months ended June 30, 2019, compared to HKD 116,195 in the previous year[16] - The company's pre-tax profit for the six months ended June 30, 2019, was HKD 67,399,000, a decrease from HKD 116,195,000 in 2018[64] - Net profit attributable to the company's owners was HKD 67,399,000, a decline of approximately 41.99%, with a net profit margin dropping from 8.58% to 5.62% due to ongoing retail challenges[92] Assets and Liabilities - Total non-current assets increased to HKD 2,361,231,000 from HKD 2,179,060,000, reflecting a growth of 8.3%[11] - Current assets rose to HKD 1,201,611,000, compared to HKD 1,111,191,000, marking an increase of 8.1%[11] - Total liabilities increased to HKD 1,193,186,000 from HKD 1,173,532,000, indicating a rise of 1.7%[11] - Net assets attributable to owners of the company were HKD 2,369,656,000, up from HKD 2,331,719,000, showing an increase of 1.6%[13] - The total assets at the end of the period were HKD 1,244,362,000, compared to HKD 1,177,389,000 at the end of 2018, indicating an increase of about 5.7%[67] - The group's bank borrowings as of June 30, 2019, totaled HKD 529,942,000, up from HKD 427,059,000 as of December 31, 2018[72] Cash Flow - The company reported a net cash position of HKD 214,305,000 as of June 30, 2019, compared to HKD 158,414,000 at the end of 2018[11] - The net cash flow from operating activities for the six months ended June 30, 2019, was HKD 95,476, a decrease from HKD 213,543 in the same period of 2018[17] - The cash and cash equivalents at the end of the period were HKD 214,305, down from HKD 399,645 in the previous year[17] Revenue Breakdown - Revenue from sales counters was HKD 866,306,000, down 16.2% from HKD 1,033,535,000 year-on-year[48] - Online sales and wholesale revenue increased to HKD 204,062,000, up 4.7% from HKD 194,612,000 in the previous year[48] - Revenue from the brand "Anlifang" was HKD 549,596,000, a decrease of 12% from HKD 624,036,000 in 2018[49] - Retail revenue amounted to HKD 992,276,000, accounting for 82.73% of total revenue, down 14.23% from the previous period; online and wholesale revenue increased by 4.86% to HKD 204,062,000, representing 17.02% of total revenue[88] Expenses and Costs - The cost of goods sold for the six months ended June 30, 2019, was HKD 264,606,000, down from HKD 272,137,000 in 2018, representing a decrease of approximately 2%[53] - Operating expenses for sales and distribution decreased by 9.72% to HKD 738,912,000, accounting for 61.61% of total revenue, while administrative expenses were HKD 120,404,000, down 15.22%[92] - Employee costs totaled HKD 375,617,000, a slight decrease from HKD 381,946,000 in the previous period, with the number of employees reduced to approximately 7,776[87] Dividends and Shareholder Information - The company declared an interim dividend of HKD 2.0 cents per share for 2019, down from HKD 3.5 cents per share in 2018, representing a decrease of about 42.9%[66] - The company declared an interim dividend of HKD 0.02 per ordinary share, amounting to approximately HKD 8,448,000[115] Corporate Governance - The board of directors has confirmed compliance with all applicable corporate governance code provisions during the reporting period[121] - The independent non-executive director, Mr. Li, has served for over 9 years and has been re-elected at the annual general meeting[120] Future Plans and Market Outlook - The company plans to focus on enhancing its product offerings and expanding its market presence in the upcoming periods[10] - The group plans to accelerate its online shopping market expansion by establishing independent online stores for its various brands[78] - The group anticipates that the uncertain global economic outlook will impact investment and consumer confidence, particularly in the non-essential retail sector[100] Accounting Standards and Compliance - The company's external auditor reviewed the interim financial statements for the six months ending June 30, 2019[114] - The independent review report confirms that the financial statements were prepared in accordance with Hong Kong Accounting Standards No. 34[123] - No significant issues were identified that would lead to a belief that the financial statements were not prepared in all material respects according to the applicable standards[126]

EMBRY HOLDINGS LIMITED 安莉芳控股有限公司 Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立之有限公司 Stock Code 股份代號 : 1388 | --- | --- | --- | --- | --- | --- | |-------|-------|-------|--------------|-------|-------| | | | | | | | | | | | | | | | | | | 追 求 | | | | | | | | | | | | | | Striving for | 卓越 | | | | | | EXCELLENCE | | | 2018 ANNUAL REPORT 年報 Solid self-development capabilities have always been one of the Group's competitive edges in the market. Adhering to the pursuit of product quality, th ...