香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）對 本 公 告 之 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之任何損失承擔任何責 任。 B & S INTERNATIONAL HOLDINGS LTD. 賓仕國際控股有限公司 （股份代號：1705） （「本公司」） （於開曼群島註冊成立的有限公司） 截至二零二五年三月三十一日止年度的 年度業績公告 財務摘要 較 上 一 財 政 年 度（「二零二四財年」）的 約34.9百萬港元，截至二零二五年三月三 十 一 日 止 年 度（「二零二五財年」），本 集 團 純 利 錄 得 約18.9百萬港元。 繼於二零二五財年派付中期股利每股2.5港 仙（二 零 二 四 財 年：2.5港 仙）後，董 事會建議宣派及派付二零二五財年末期股利每股股份2.5港 仙（二 零 二 四 財 年： 3.0港 仙）。 | | | | 截 至 | 截 至 | | | --- | --- | --- | --- | --- | --- | | | | | 二 ...

Financial Performance - The company reported a revenue of approximately HKD 244.7 million for the six months ended September 30, 2024, a decrease of about 5.1% compared to HKD 257.8 million for the same period in 2023[12]. - Net profit for the six months ended September 30, 2024, was approximately HKD 10.6 million, representing a decrease of about 40.4% from HKD 17.8 million in the previous year[10]. - For the six months ended September 30, 2024, the group's revenue was approximately HKD 244.7 million, a decrease of about 5.1% compared to approximately HKD 257.8 million for the same period in 2023[25]. - The gross profit for the same period was HKD 57.6 million, down 5.8% from HKD 60.9 million year-on-year[47]. - Operating profit decreased significantly to HKD 13.0 million, a decline of 38.2% from HKD 21.2 million in the previous year[47]. - The net profit attributable to the company's owners was HKD 10.2 million, down 41.0% from HKD 17.3 million in the same period last year[47]. - The profit attributable to the company's owners for the six months ended September 30, 2024, was HKD 10,172,000, a decrease of 41.5% compared to HKD 17,272,000 for the same period in 2023[104]. - The basic earnings per share for the six months ended September 30, 2024, was HKD 2.5, down from HKD 4.3 in the previous year, reflecting a decline of 41.9%[104]. Revenue Breakdown - Retail business revenue decreased to approximately HKD 123.6 million for the six months ended September 30, 2024, down from HKD 127.3 million in the same period last year, a decline of about 3.7%[17]. - Distribution business revenue for the same period was approximately HKD 121.1 million, down from HKD 130.5 million, reflecting a decrease due to weakened consumer sentiment in Hong Kong[22]. - For the six months ended September 30, 2024, total segment revenue was HKD 244,693,000, with distribution business contributing HKD 121,102,000 and retail business contributing HKD 123,591,000[80]. Expenses and Costs - Selling and distribution expenses increased by approximately 10.0% to about HKD 20.9 million, primarily due to inflation-related increases in marketing and salary expenses[27]. - Administrative expenses rose by approximately 8.5% to about HKD 21.8 million, attributed to inflation across various expenditures[28]. - The cost of goods sold for the six months ended September 30, 2024, was HKD 103,965, down from HKD 116,917 in the previous year, representing a decrease of about 11.1%[97]. - Employee benefit expenses for the six months ended September 30, 2024, increased to HKD 60,652 from HKD 55,766 in the previous year, reflecting an increase of approximately 8.5%[97]. Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.025 per share, with a payout ratio of approximately 98.3% of the profit attributable to owners, compared to 58.1% in the previous year[10]. - The board has declared an interim dividend of HKD 0.025 per share for the six months ending September 30, 2024, to be distributed around December 24, 2024[153]. - Major shareholders hold 25.0% of the company each, with 100,000,000 shares attributed to ACAC Investment Limited, SCSC Holdings Limited, and CCST Investment Limited[159][160][163]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 270.9 million, a slight increase from HKD 267.3 million as of March 31, 2024[56]. - The total segment assets as of September 30, 2024, amounted to HKD 167,380, down from HKD 174,472 as of March 31, 2024, indicating a decrease of about 4.3%[89]. - The total segment liabilities as of September 30, 2024, were HKD 91,073, a decrease from HKD 97,291 as of March 31, 2024, reflecting a reduction of approximately 6.4%[91]. Cash Flow and Financing - Cash flow from operating activities for the six months was HKD 35.3 million, an increase of 74.0% compared to HKD 20.3 million in the previous year[62]. - As of September 30, 2024, the group's cash and cash equivalents amounted to approximately HKD 91.4 million, compared to approximately HKD 80.6 million as of March 31, 2024[34]. - The company reported a decrease in trade receivables to HKD 59.0 million from HKD 66.8 million, indicating improved cash collection[51]. - Net financing costs increased by approximately 100.0% to about HKD 0.8 million, mainly due to more lease agreements being renewed, resulting in higher lease liability interest[29]. Operational Highlights - The average same-store sales growth for the "Ten Ren Tea" retail stores remained stable at 0% for the six months ended September 30, 2024[19]. - The average price of tea drinks increased to HKD 31.1 per cup, up from HKD 29.1, due to inflation adjustments[20]. - Average daily sales of tea drinks decreased to 18,000 cups from 19,000 cups, attributed to local residents' consumption trends[20]. - The company maintained 63 self-operated retail stores as of September 30, 2024, unchanged from the previous year[17]. Legal and Compliance - The group is involved in ongoing litigation regarding a supply agreement for masks, with claims totaling approximately HKD 9,083,000 against the supplier[148]. - The group is facing a counterclaim from the supplier amounting to approximately HKD 27,186,000 related to the same supply agreement[150]. - Management believes that the supplier's claims are unreasonable and unsubstantiated, and expects to win the lawsuit, which could result in the termination of trade payables for delivered masks[151]. - If the company loses the lawsuit, it may incur additional litigation losses of approximately HKD 17,936,000 related to the supplier's claims for undelivered masks[151]. Governance and Management - The company has adopted the corporate governance principles outlined in the Appendix C1 of the Listing Rules, emphasizing effective board management and high transparency[168]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence[172]. - The audit committee reviewed the unaudited interim consolidated results and financial statements, confirming compliance with applicable accounting standards[175].

Financial Performance - For the six months ended September 30, 2024, the group recorded a net profit of approximately HKD 10.6 million, a decrease of about 40.4% compared to HKD 17.8 million for the same period in 2023[1]. - Revenue for the six months ended September 30, 2024, was HKD 244.7 million, representing a decrease of 5.1% from HKD 257.8 million in the same period of 2023[1]. - Gross profit for the same period was HKD 57.6 million, down 5.4% from HKD 60.9 million in 2023[1]. - Basic earnings per share for the six months ended September 30, 2024, were HKD 2.5, a decrease of 41.9% from HKD 4.3 in the previous year[1]. - Operating profit for the period was HKD 12.986 million, compared to HKD 21.157 million in the same period last year[6]. - The company reported a net profit of HKD 10,567,000 for the six months ended September 30, 2024[37]. - The profit before tax for the previous year was HKD 20,798,000, with a net profit of HKD 17,849,000[39]. - The total tax expense for the six months ended September 30, 2024, was 1,649 thousand HKD, down from 2,949 thousand HKD in the same period of 2023, representing a decrease of approximately 44.1%[59]. - The net other losses for the six months ended September 30, 2024, amounted to (1,930) thousand HKD, compared to (572) thousand HKD in 2023, indicating an increase in losses[50]. Dividends and Payouts - The board declared an interim dividend of HKD 0.025 per share, resulting in a payout ratio of approximately 58.1% of the profit attributable to the owners of the company for the six months ended September 30, 2024[1]. - The company declared an interim dividend of 2.5 HKD cents per share, totaling 10,000,000 HKD, consistent with the previous year[65]. Assets and Liabilities - The total assets as of September 30, 2024, amounted to HKD 270.896 million, an increase from HKD 267.254 million as of March 31, 2024[19]. - Total liabilities as of September 30, 2024, were HKD 99.232 million, a decrease from HKD 104.687 million as of March 31, 2024[19]. - The equity attributable to the owners of the company increased to HKD 168.518 million from HKD 158.346 million[19]. - Trade receivables from third parties decreased from 66,780 thousand HKD as of March 31, 2024, to 59,040 thousand HKD as of September 30, 2024, a reduction of approximately 11.6%[66]. - Trade payables as of September 30, 2024, were HKD 14.985 million, a decrease from HKD 20.385 million as of March 31, 2024[74]. - Other payables increased to HKD 24.715 million as of September 30, 2024, compared to HKD 24.013 million as of March 31, 2024[74]. - Total liabilities decreased from 104,687 thousand HKD as of March 31, 2024, to 99,232 thousand HKD as of September 30, 2024, representing a reduction of approximately 5.2%[48]. Business Operations - The company continues to engage in the distribution of food and beverage products and the provision of catering services in Hong Kong[22]. - For the six months ended September 30, 2024, the total revenue from distribution business was HKD 121,102,000, while retail business revenue was HKD 123,591,000, totaling HKD 244,693,000[37]. - The profit before tax for the distribution business was HKD 30,072,000, and for the retail business, it was HKD 4,509,000, resulting in a total profit before tax of HKD 12,216,000[37]. - The total assets for the distribution business as of September 30, 2024, were HKD 87,887,000, and for the retail business, HKD 79,493,000, totaling HKD 167,380,000[41]. - The total liabilities for the distribution business were HKD 19,702,000, while the retail business liabilities were HKD 71,371,000, resulting in total liabilities of HKD 91,073,000[45]. - The company has not identified geographical segments as all sales and operating profits are derived from Hong Kong[36]. - The company is currently involved in litigation regarding a supply agreement for masks, with potential claims amounting to approximately HKD 27.186 million from the supplier[82]. - Management believes that the supplier's claims are unfounded and expects to prevail in the litigation, which could result in the termination of related trade payables[82]. - The company has established a cautious cost control strategy to improve profit margins in its retail business[85]. - The company is actively exploring market expansion opportunities despite the current economic challenges[84]. Employee and Operational Metrics - The group employed 648 employees as of September 30, 2024, a decrease from 714 employees as of March 31, 2024[122]. - The average same-store sales growth rate for the retail stores was 0%, compared to a growth of 5.6% in the previous year[88]. - The average daily sales of tea drinks decreased to 18,000 cups, down from 19,000 cups in the previous year[89]. - The average selling price of tea drinks increased to HKD 31.1 per cup, up from HKD 29.1 in the previous year[89]. - Retail business revenue accounted for approximately 50.5% of the company's total revenue for the six months ended September 30, 2024[86]. - The company maintained 63 self-operated retail stores as of September 30, 2024, unchanged from the previous year[85]. Financial Strategy and Future Outlook - The company plans to adopt new accounting standards effective from April 1, 2025, which are not expected to have a significant impact on the financial statements[31]. - The company plans to expand its brand and product portfolio in the distribution business to maintain market competitiveness[93]. - The company aims to optimize its cost structure and business model by reviewing lease agreements with landlords[93]. - Capital expenditure for the six months ending September 30, 2024, was approximately HKD 19.8 million, compared to HKD 18.8 million for the same period in 2023[109]. - The group continues to face foreign exchange risks primarily involving JPY, TWD, RMB, and USD due to overseas procurement and foreign currency-denominated borrowings[111]. - The group has not made any significant investments or acquisitions of capital assets during the six months ending September 30, 2024[117]. Governance and Compliance - The company has adopted corporate governance principles to maintain high standards and protect shareholder interests[127]. - The audit committee reviewed the unaudited interim consolidated results and financial statements for the six months ending September 30, 2024[136]. - The audit committee confirmed that the interim results were prepared in accordance with applicable accounting standards and appropriate disclosures were made[136]. - The interim report will be sent to shareholders and made available on the company's website and the Hong Kong Stock Exchange website[136].

Financial Performance - For the fiscal year 2024, the company reported revenue of approximately HKD 520.8 million, an increase of 7.0% compared to HKD 486.8 million in the fiscal year 2023[14]. - The gross profit for fiscal year 2024 was HKD 121.9 million, reflecting a 16.0% increase from HKD 105.1 million in the previous year[14]. - Net profit for fiscal year 2024 reached HKD 34.9 million, marking a 20.3% increase from HKD 29.0 million in fiscal year 2023[14]. - Basic earnings per share for fiscal year 2024 were HKD 8.40, up 21.0% from HKD 6.94 in the previous year[14]. - The distribution business generated revenue of HKD 269.1 million, a 10.2% increase from HKD 244.3 million in fiscal year 2023[16]. - The retail business reported revenue of HKD 251.7 million, which is a 3.8% increase from HKD 242.5 million in the previous year[16]. - The overall financial performance significantly improved due to the recovery of the Hong Kong economy from the COVID-19 pandemic[16]. - Profit attributable to the company's owners for fiscal year 2024 was approximately HKD 33.6 million, up about 20.9% from HKD 27.8 million in fiscal year 2023[44]. - Distribution business revenue increased to approximately HKD 269.1 million in fiscal year 2024, compared to HKD 244.3 million in fiscal year 2023, accounting for about 51.7% of total revenue[46]. - Retail business revenue rose to approximately HKD 251.7 million in fiscal year 2024, up from HKD 242.5 million in fiscal year 2023, representing about 48.3% of total revenue[51]. Business Strategy and Operations - The company plans to pay a final dividend of HKD 3.0 cents per share for fiscal year 2024, compared to HKD 2.5 cents in fiscal year 2023, resulting in a total dividend payout ratio of approximately 65.3%[17]. - The company successfully conducted marketing activities that stimulated sales growth, reflecting the effectiveness of its strategic initiatives[21]. - The company continues to focus on promoting existing products while actively sourcing new quality products globally to capitalize on the economic recovery in Hong Kong[21]. - The group aims to expand its brand and product portfolio in the distribution business to remain competitive in the market[25]. - The retail business will continue to enhance customer experience and product innovation to solidify its market position[25]. - The group anticipates challenges in the Hong Kong retail market due to declining consumer spending and rising operational costs[25]. - The group is committed to adjusting its business model to navigate uncertainties in the economic environment[25]. - The average same-store sales growth rate for the fiscal year 2024 is projected to be 8.4%, up from 6.9% in 2022[54]. - The average selling price of tea beverages increased to HKD 27.9 per cup in 2024 from HKD 26.4 in 2023[56]. Corporate Governance - The company has adopted corporate governance principles to enhance shareholder value and ensure sustainable development[77]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, emphasizing effective board leadership and accountability[101]. - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a high level of independence[107]. - The company has maintained compliance with the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by the same individual[101]. - The board is responsible for establishing strategic plans and overseeing operational and production plans, as well as financial reporting and risk management[105]. - The company has a strong commitment to high standards of corporate governance to protect shareholder interests and ensure sustainable development[101]. - The board will periodically review its structure and composition to maintain high corporate governance standards[102]. - The company has confirmed that all directors complied with the securities trading standards during the reporting period[103]. - The independent non-executive directors bring extensive experience from various sectors, enhancing the board's effectiveness[96]. - The remuneration committee held two meetings during the year ending March 31, 2024, focusing on the remuneration policies for directors and senior management[117]. Risk Management - The group continues to face foreign exchange risks primarily related to transactions in Japanese Yen, New Taiwan Dollar, and US Dollar[81]. - The company maintains a prudent treasury policy with monitoring procedures in place to ensure timely recovery of overdue debts[83]. - The risk management and internal control system has been evaluated and deemed effective for the fiscal year ending March 31, 2024[138]. - The company has established a clear organizational structure with defined responsibilities and authority for risk management[142]. - The company has no internal audit function but believes that the current organizational structure provides sufficient risk management oversight[138]. - The board conducts an annual review of the effectiveness of the risk management and internal control systems, including financial, operational, and compliance controls[138]. Sustainability and Corporate Social Responsibility - The company has committed to integrating sustainability into its core business strategy, emphasizing its role as a key driver of global sustainable development goals in the food and beverage industry[158]. - Significant achievements in the fiscal year ending March 31, 2024, include a focus on reducing water consumption, which is highlighted as one of the most important accomplishments[159]. - The company has developed a roadmap to address climate challenges over the next decade, supporting Hong Kong's goal of achieving net-zero carbon emissions by 2050[159]. - The company has actively engaged with stakeholders to identify significant environmental, social, and governance issues, enhancing corporate social responsibility practices[163]. - The company plans to explore additional green and innovative solutions to further reduce its carbon footprint as part of its sustainability journey[159]. - The company has established a diverse workforce and aims to strengthen relationships with local suppliers to support the community[158]. - The company has implemented measures to ensure transparency and ethical business operations, which are key concerns for shareholders and investors[164]. - The company’s environmental, social, and governance report is prepared in accordance with the guidelines to ensure balanced and measurable disclosures[157]. - The company emphasizes the importance of stakeholder communication and the need for continuous improvement in its engagement strategies[163]. Employee Welfare and Compliance - The company emphasizes the importance of occupational health and safety, employee compensation, benefits, and rights, as well as product health and safety[172]. - The company has established a comprehensive employee handbook detailing office regulations and benefits, distributed to all employees for reference[191]. - The company actively monitors potential infringers in the market and takes swift action to protect its intellectual property rights[184]. - The company has developed a clean standard procedure to ensure compliance with its policies and maintain high hygiene standards in all cooking areas[182]. - The company reported a total of 203 workdays lost due to minor injuries during the reporting period, with management implementing safety measures to prevent future incidents[194]. - There were no work-related fatalities reported for the fiscal year ending March 31, 2024, and no violations of Hong Kong health and safety laws were noted[195]. - The company provides ongoing training for employees to enhance knowledge acquisition and retention, which is considered a key element for business success[197]. - Employees participated in hygiene supervisor training courses organized by the Food and Environmental Hygiene Department to comply with health manager and hygiene supervisor program requirements[197]. - The company adheres strictly to laws and regulations regarding the prevention of child labor and forced labor, conducting identity checks during the hiring process[198]. - No incidents of non-compliance with labor standards were reported for the fiscal year ending March 31, 2024[199].

Revenue Performance - Revenue from distribution business increased by approximately HKD 24.8 million to about HKD 269.1 million for the year ended March 31, 2024, accounting for approximately 51.7% of the group's total revenue[1]. - For the fiscal year ending March 31, 2024, the group's performance significantly improved compared to the previous year, driven by the recovery of the Hong Kong economy from COVID-19[20]. - The group generated total revenue of HKD 520.8 million in FY2024, compared to HKD 486.8 million in FY2023, reflecting a growth in sales[82]. - The retail business revenue was HKD 251.7 million, up HKD 9.2 million or 3.8% from HKD 242.5 million in the previous year[20]. - The distribution business generated revenue of approximately HKD 269.1 million, up from approximately HKD 244.3 million in 2023, representing an increase of about HKD 24.8 million and accounting for approximately 51.7% of total revenue for the fiscal year 2024[123]. - The retail business revenue increased by approximately HKD 9.2 million to about HKD 251.7 million for the fiscal year ending March 31, 2024, compared to approximately HKD 242.5 million in 2023, driven by the post-pandemic economic recovery in Hong Kong[133]. Profitability - Gross profit for the year ended March 31, 2024, was approximately HKD 121.9 million, an increase of about 16.0% from approximately HKD 105.1 million in 2023, with a gross margin increase to approximately 23.4%[3]. - The net profit for the year ended March 31, 2024, rose by approximately 20.9% to about HKD 33.6 million from HKD 27.8 million in the previous year, with a net profit margin of approximately 6.7%[110]. - Basic earnings per share increased to HKD 8.40 in 2024 from HKD 6.94 in 2023, reflecting a growth of approximately 20.9%[65]. - The attributable profit for FY2024 is approximately HKD 33.6 million, up by about HKD 5.8 million or 20.9% compared to FY2023[76]. - The operating profit for the fiscal year was HKD 42.4 million, an increase from HKD 35.9 million in the previous year[187]. Expenses and Costs - Cost of sales for the year ended March 31, 2024, was approximately HKD 398.9 million, an increase of about 4.5% compared to approximately HKD 381.7 million in the same period of 2023, representing about 76.6% of total revenue[2]. - Selling and distribution expenses for the year ended March 31, 2024, were approximately HKD 38.4 million, an increase of about 6.4% from approximately HKD 36.1 million in the same period of 2023[4]. - Administrative expenses for the year ended March 31, 2024, were approximately HKD 42.0 million, a decrease of about 1.4% from approximately HKD 42.6 million in 2023[5]. - The group recognized a total of HKD 479,337,000 in expenses for 2024, up from HKD 460,368,000 in 2023, representing an increase of approximately 4.1%[62]. Financial Position - As of March 31, 2024, the group had cash and bank deposits of approximately HKD 50.6 million, down from approximately HKD 76.4 million in 2023, with a debt-to-equity ratio of approximately 26.6%[8]. - Total assets as of March 31, 2024, were HKD 267,254 million, slightly down from HKD 267,673 million in the previous year[23]. - Total equity increased to HKD 162,567 million from HKD 148,687 million in the previous year[23]. - Total segment assets amounted to HKD 174,472,000, with distribution business assets at HKD 92,327,000 and retail business assets at HKD 82,145,000[55]. - Total segment liabilities decreased to HKD 97,291,000 in 2024 from HKD 108,528,000 in 2023, with distribution liabilities at HKD 25,321,000 and retail liabilities at HKD 71,970,000[56]. Market Challenges and Strategies - The group continues to face challenges in the Hong Kong retail market, particularly in the tea beverage sector, due to intense competition and consumer spending pressures[15][16]. - The group is actively monitoring foreign exchange risks related to currency fluctuations, particularly involving the Japanese Yen, New Taiwan Dollar, and US Dollar[9][14]. - The group continues to prioritize marketing existing products while actively sourcing new quality products globally to leverage opportunities from the economic recovery in Hong Kong[40]. - The retail business is expected to face challenges due to soft consumer sentiment, prompting the group to develop a comprehensive sales and marketing plan to stimulate consumer interest[131]. - The group plans to optimize its cost structure and business model by reviewing lease agreements and controlling operating costs, including labor and rental expenses[131]. Dividends and Shareholder Returns - The group declared a dividend of HKD 10,000,000, maintaining a dividend of HKD 2.5 per share for both 2024 and 2023[67]. - The company plans to declare a final dividend of HKD 3.0 per share for the fiscal year, compared to HKD 2.5 per share in the previous year, resulting in a total payout ratio of approximately 65.3%[184]. Employee and Operational Metrics - The group employed 714 employees as of March 31, 2024, an increase from 692 employees in 2023, reflecting a 3.2% growth in workforce[142]. - The average same-store sales growth for the "Ten Ren Tea" retail stores was 8.4% for the fiscal year 2024, with average sales per store increasing to HKD 3.76 million[127]. - The group operates 63 self-operated retail stores as of March 31, 2024, focusing on marketing and product development to increase revenue and market share[125]. Legal and Compliance Issues - The company is currently involved in litigation related to quality issues with suppliers, with potential estimated losses of approximately HKD 17.9 million if the litigation is unsuccessful[100]. - The group has implemented new accounting standards and amendments, which are not expected to have a significant impact on the current or future periods[28].

Financial Performance - For the six months ended September 30, 2023, the company's revenue was approximately HKD 257.8 million, an increase of 9.8% compared to HKD 234.7 million in the same period of 2022[9]. - Gross profit for the same period was HKD 60.9 million, representing a 20.4% increase from HKD 50.6 million year-on-year[9]. - Net profit decreased by 14.8% to approximately HKD 17.8 million, down from HKD 20.9 million in the previous year[9]. - Operating profit decreased to HKD 21,157,000, down 13.0% from HKD 24,448,000 in the previous year[45]. - The company's profit attributable to owners for the six months ended September 30, 2023, was HKD 17,272,000, a decrease of 15.0% from HKD 20,297,000 in the same period of 2022[100]. - Basic earnings per share for the six months ended September 30, 2023, was HKD 4.3, down from HKD 5.1 in the previous year, reflecting a decline of 15.7%[100]. Revenue Breakdown - Retail business revenue increased to approximately HKD 127.3 million, up from HKD 118.1 million, reflecting a growth of about 9.2%[11]. - Distribution business revenue was approximately HKD 130.5 million, an increase from HKD 116.6 million, indicating a significant recovery post-COVID-19[16]. - For the six months ended September 30, 2023, total revenue was HKD 257,846,000, with distribution business contributing HKD 130,503,000 and retail business contributing HKD 127,343,000[79]. - Distribution business revenue was HKD 130,503,000, up from HKD 116,561,000, representing a growth of 11.9%[89]. - Retail business revenue increased to HKD 127,343,000 from HKD 118,110,000, marking a rise of 7.4%[89]. Expenses and Costs - Selling and distribution expenses were approximately HKD 19.0 million, an increase of about 8.6% from approximately HKD 17.5 million in the same period of 2022[24]. - Administrative expenses were approximately HKD 20.1 million, reflecting an increase of about 4.7% from approximately HKD 19.2 million in the same period of 2022[25]. - Employee benefit expenses increased to HKD 55,766,000 from HKD 50,313,000, representing a rise of 10.9%[94]. - Depreciation of property, plant, and equipment decreased to HKD 2,442,000 from HKD 4,854,000, a decline of 49.7%[94]. - Total expenses related to short-term leases amounted to HKD 8,549,000 for the six months ended September 30, 2023, compared to HKD 8,358,000 in 2022, reflecting an increase of approximately 2.3%[123]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.025 per share, with a payout ratio of approximately 58.1% of the profit attributable to shareholders[9]. - The interim dividend declared on November 27, 2023, is HKD 0.025 per share, totaling HKD 10,000,000, consistent with the previous year's dividend[101]. Assets and Liabilities - Total assets as of September 30, 2023, were HKD 269,529,000, a slight increase from HKD 267,673,000 as of March 31, 2023[49]. - Total liabilities decreased to HKD 103,483,000 from HKD 118,986,000, indicating improved financial stability[49]. - Cash and cash equivalents at the end of the period were HKD 58,717,000, down from HKD 75,630,000 at the beginning of the period[54]. - Trade receivables from third parties increased to HKD 65,860,000 as of September 30, 2023, up 21.1% from HKD 54,434,000 as of March 31, 2023[110]. - Trade payables decreased to HKD 16,550,000 as of September 30, 2023, down from HKD 19,541,000 as of March 31, 2023, a reduction of 15.2%[116]. Corporate Governance - Major shareholders include ACAC Investment Limited, SCSC Holdings Limited, and CCST Investment Limited, each holding 25.0% (100,000,000 shares) of the company's total issued shares[153]. - The company emphasizes high standards of corporate governance, adhering to the principles of the corporate governance code as of September 30, 2023[157]. - The roles of Chairman and CEO are held by the same individual, Mr. Chen Jinquan, to enhance agility and efficiency in business strategy formulation and execution[157]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence[159]. Financial Risks and Litigation - The group continues to face various financial risks, including market risk, credit risk, and liquidity risk, with no changes in risk management policies since the last reporting date[71][72]. - The company is involved in ongoing litigation regarding a supply agreement for masks, with potential claims amounting to HKD 27,186,000 from the supplier, which includes HKD 9,750,000 for delivered masks[142]. - Management believes that the supplier's claims are unfounded and expects to prevail in the litigation, with no additional provisions required for the remaining claim amounts[143].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 之內容概不負責，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之任何損失承 擔任何責任。 B & S INTERNATIONAL HOLDINGS LTD. 賓 仕 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （「本公司」） （股份代號：1705） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 財務摘要 • 截至二零二三年九月三十日止六個月的純利較二零二二年同期減少約 14.8%。 • 本集團截至二零二三年九月三十日止六個月錄得純利約17.8百萬港元。 倘不計及收到截至二零二二年九月三十日止六個月香港政府的工資補 貼，與二零二二年同期相比，本集團實際上錄得純利增加約6.6百萬港 元。（附註1） • 董事會已議決就截至二零二三年九月三十日止六個月宣派中期股利每 股2.5港仙，即本公司擁有人應佔溢利的派息率約為58.1%（截至二零二二 ...

Financial Performance - For the fiscal year ending March 31, 2023, the company reported revenue of approximately HKD 486.8 million, an increase of 4.0% compared to HKD 468.2 million in the previous fiscal year[18]. - The gross profit for the fiscal year was HKD 105.1 million, reflecting a significant increase of 36.3% from HKD 77.1 million in the prior year[18]. - Net profit surged to HKD 29.0 million, a remarkable increase of 2,316.7% compared to HKD 1.2 million in the previous fiscal year[17]. - Basic earnings per share rose to HKD 6.94, up 4,526.7% from HKD 0.15 in the previous year[18]. - The retail business achieved revenue of HKD 242.5 million, an increase of 8.2% from HKD 224.2 million in the previous year, while the distribution business remained stable at HKD 244.3 million[20]. - The retail segment's profit increased by 300.0% to HKD 14.0 million, compared to HKD 3.5 million in the previous fiscal year[20]. - The overall financial performance improved significantly due to the recovery of the Hong Kong economy starting from the second quarter of 2022[25]. - The profit attributable to the company's owners surged to approximately HKD 27.8 million, a remarkable increase of about 4,533.3% from HKD 0.6 million in the previous year[41]. - The distribution business generated revenue of approximately HKD 244.3 million, slightly up from HKD 244.0 million in the previous year, accounting for about 50.2% of the total revenue[43]. - The retail business's revenue rose to approximately HKD 242.5 million, an increase of about HKD 18.3 million from HKD 224.2 million in the previous year, representing about 49.8% of total revenue[47]. Cost Control and Profit Margins - The company focused on cost control measures to enhance profit margins in its retail operations, alongside successful marketing campaigns that stimulated sales growth[19]. - The gross profit margin improved to approximately 21.6% in 2023 from about 16.5% in 2022, attributed to cost control measures and currency depreciation[67]. - Operating costs decreased to approximately HKD 381.7 million, a reduction of about 2.4% from approximately HKD 391.2 million in the previous year[66]. - The company aims to optimize its cost structure and business model by reviewing lease agreements and controlling operating costs, including labor and rent expenses[62]. - The company is committed to prudent cost control measures to enhance profit margins in its retail operations[47]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.025 per share, resulting in a total dividend payout ratio of approximately 71.9% for the fiscal year[21]. Business Strategy and Development - The company plans to continue its multi-brand development strategy and focus on high-quality products to capture consumer spending driven by the economic recovery in Hong Kong[30]. - The company aims to expand its brand and product portfolio in the distribution business to maintain market competitiveness and leverage opportunities from the economic recovery[30]. - The company will continue to adjust its business model to navigate uncertainties in the challenging economic environment[30]. Corporate Governance - The company has adopted the corporate governance code principles to ensure high standards of corporate governance and protect shareholder interests[77]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence[105]. - The roles of Chairman and CEO are held by the same individual, Mr. Chen, which the board believes enhances agility and efficiency in strategy formulation and execution[105]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and ensure sustainable development[105]. - The board will periodically review its structure and composition to maintain high corporate governance standards[106]. Employee and Workplace Policies - The group employed 692 staff as of March 31, 2023, compared to 609 in 2022, with employee benefit expenses (including director remuneration) amounting to approximately HKD 106.9 million, up from HKD 96.9 million in the previous year[88]. - The company is committed to providing a workplace free from discrimination and harassment, ensuring equal opportunities for employees from diverse backgrounds[199]. - The company has established a comprehensive employee handbook detailing office regulations, benefits, and rules for reference by all employees[200]. - A formal reporting procedure is in place to allow employees to report issues without fear of retaliation or negative evaluation[200]. Environmental, Social, and Governance (ESG) Initiatives - The company reported a commitment to sustainable development, recognizing its role in promoting sustainability during uncertain times[165]. - Significant achievements include a focus on reducing water usage, which was highlighted as a key accomplishment for the fiscal year ending March 31, 2023[166]. - The company aims to support Hong Kong's goal of achieving net-zero carbon emissions by 2050, with a roadmap addressing climate challenges over the next decade[166]. - The company has established a multi-channel communication policy to enhance engagement with shareholders and potential investors, which has been deemed effective for the fiscal year ending March 31, 2023[157]. - The company has established a governance framework to manage ESG-related risks and opportunities effectively[182]. Risk Management and Compliance - The company has implemented a zero-tolerance policy against bribery, extortion, and fraud, promoting ethical conduct across its operations[146]. - The company is committed to ensuring compliance with relevant laws and regulations, as well as monitoring the training and professional development of directors and senior management[136]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, concluding that they are adequate and effective for the fiscal year ending March 31, 2023[143]. Quality Assurance and Product Safety - The company has implemented strict quality assurance measures to ensure compliance with food safety laws and regulations, with zero reported cases of product recalls due to safety and health reasons during the reporting period[193]. - The company has established a quality assurance team to evaluate food ingredients and ensure compliance with safety standards[188].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 之內容概不負責，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之任何損失承 擔任何責任。 B & S INTERNATIONAL HOLDINGS LTD. 賓 仕 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （「本公司」） （股份代號：1705） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 的 年 度 業 績 公 告 財務摘要 較上一財政度（「二零二二財年」）的約1.2百萬港元相比，截至二零二三年三月 三十一日止年度（「二零二三財年」），本集團純利錄得約29.0百萬港元。 截至 截至 二零二三年 二零二二年 三月三十一日 三月三十一日 止年度 止年度 增幅 百萬港元 百萬港元 ...

Financial Performance - For the six months ended September 30, 2022, the company's net profit increased by approximately 216.7% to about HKD 20.9 million compared to HKD 6.6 million in the same period last year[14]. - The company's revenue for the same period was approximately HKD 234.7 million, a decrease of about 1.7% from HKD 238.8 million in the previous year, primarily due to a reduction in the number of retail stores[18]. - The gross profit for the six months ended September 30, 2022, was HKD 50.6 million, an increase of 8.1% from HKD 46.8 million in the previous year[16]. - The company declared an interim dividend of HKD 0.025 per share, with a payout ratio of approximately 49.3% of the profit attributable to shareholders[14]. - The retail segment's profit increased by approximately 35.3% to about HKD 4.6 million for the six months ended September 30, 2022, compared to HKD 3.4 million in the previous year[21]. - The profit before tax for the period was HKD 22,909,000, with a net profit of HKD 20,883,000[1]. - Net profit attributable to owners for the six months ended September 30, 2022, was approximately HKD 20.3 million, an increase of about 227.4% from HKD 6.2 million in the prior year[39]. - Operating profit rose significantly to HKD 24,448,000, compared to HKD 9,729,000 in the previous year, marking a 151.5% increase[53]. - Basic and diluted earnings per share increased to HKD 5.1 from HKD 1.5, reflecting strong profitability growth[53]. Revenue Breakdown - Retail business revenue for the six months ended September 30, 2022, was approximately HKD 118.1 million, down from HKD 121.0 million in the previous year, representing a decrease of about 2.9 million[20]. - Distribution business revenue for the six months ended September 30, 2022, was approximately HKD 116.6 million, relatively stable compared to HKD 117.8 million for the same period in 2021[27]. - Total revenue for the group for the six months ended September 30, 2022, was approximately HKD 234.7 million, a decrease of about 1.7% from HKD 238.8 million in the same period of 2021[30]. - Retail business revenue decreased by approximately HKD 2.9 million to about HKD 118.1 million, accounting for approximately 50.3% of total revenue[30]. - Distribution business revenue for the six months ended September 30, 2022, was HKD 117,760,000, while retail business revenue was HKD 121,015,000, totaling HKD 238,775,000[107]. Cash and Assets - As of September 30, 2022, the group had cash and cash equivalents of approximately HKD 62.2 million, up from HKD 55.2 million as of March 31, 2022[42]. - Total assets as of September 30, 2022, amounted to HKD 262,076,000, up from HKD 251,807,000 as of March 31, 2022[57]. - Cash and cash equivalents at the end of the period were HKD 62,239,000, an increase from HKD 54,809,000 at the beginning of the period[69]. - The trade receivables from third parties as of September 30, 2022, were HKD 54,441,000, up from HKD 52,914,000 as of March 31, 2022, indicating an increase of 2.9%[129]. - The inventory balance as of September 30, 2022, was HKD 20,359,000, compared to HKD 19,781,000 as of March 31, 2022, reflecting a rise of 2.9%[124]. Liabilities and Expenses - Total liabilities decreased to HKD 111,054,000 from HKD 120,868,000, indicating improved financial stability[60]. - The total liabilities decreased from HKD 111,149,000 as of March 31, 2022, to HKD 101,315,000 as of September 30, 2022[106]. - Employee benefits expenses increased to HKD 50,313,000 from HKD 48,815,000 year-on-year[112]. - The group incurred lease liabilities of HKD 44,449,000 as of September 30, 2022, down from HKD 51,033,000, a reduction of 12.83%[140]. Government Subsidies and Financial Support - The company received approximately HKD 9.7 million in wage subsidies from the Hong Kong government, which significantly impacted the net profit figures[16]. - The company reported a government subsidy of HKD 9,740,000 received during the period, compared to none in the previous year[110]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules, emphasizing effective board management and high transparency[179]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence[181]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[179]. Legal Matters - The group has ongoing litigation with a supplier regarding a mask supply agreement valued at HKD 31,500,000, with HKD 9,250,000 of masks delivered but failing to meet quality standards[159]. - The company has filed a claim against a supplier for damages amounting to HKD 9,083,000 due to non-compliance with quality standards in delivered goods[160]. - The supplier has counterclaimed against the company for HKD 9,750,000 plus damages, alleging breach of contract related to unpaid amounts for delivered masks[162]. - The management believes the supplier's claims are unfounded and expects to win the lawsuit based on test reports from accredited laboratories[163]. - If the company loses the lawsuit, it could incur additional losses of approximately HKD 17,936,000 related to the supplier's claims and legal costs[163]. Employee and Management Information - The company employed 684 staff as of September 30, 2022, up from 609 as of March 31, 2022, with employee benefits expenses totaling approximately HKD 50.3 million[51]. - The total remuneration for key management personnel was HKD 1,852,000 for the six months ended September 30, 2022, an increase from HKD 1,554,000, reflecting a growth of 19.21%[157]. Accounting and Financial Reporting - The financial data is presented in Hong Kong dollars (HKD) and is prepared in accordance with Hong Kong Accounting Standards[74]. - The company has adopted several new or revised accounting standards, which are not expected to have a significant impact on the group's interim performance and financial position[77]. - The management's significant judgments and estimates in applying accounting policies remain consistent with those applied in the annual financial statements[83].