Group 1 - The company expects to record a loss attributable to shareholders of approximately HKD 17 million for the fiscal year 2025, compared to a profit of approximately HKD 33.6 million for the fiscal year ending June 30, 2024 [1] - The board attributes this change primarily to a decrease in revenue of about 22% for the fiscal year 2025 compared to 2024, mainly due to global trade tensions weakening consumer sentiment in the Chinese retail market, adversely affecting local economic and employment growth [1] - Additionally, the company is facing fair value losses on investment properties due to a weak property market in Hong Kong and China [1]

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，並明確表示概不就因本公告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （於開曼群島註冊成立的有限公司） （股份代號：2033） Time Watch Investments Limited 時計寶投資有限公 司 盈利警告 本公告乃由時計寶投資有限公司（「本公司」，連同其附屬公司統稱「本集團」） 根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(1)條及香 港法例第571章證券及期貨條例第XIVA部項下的內幕消息條文（定義見上市規 則）而作出。 主席兼執行董事 董觀明 香港，2025年9月18日 於本公告日期，執行董事為董觀明先生、董觀國先生、董偉傑先生及鄧光磊先 生；及獨立非執行董事為王泳強先生、蔡浩仁先生及羅敏儀女士。 2 1 本公司仍在編製本集團2025財政年度綜合業績的過程中。因此，上述資料為基 於現時所得資料的初步資料，且未經董事會轄下的審核委員會審閱，或未經 本公司獨立核數師審核或審閱。此資料將視乎2025財政年度的財務業績作出 調整及落實。因 ...

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，並明確表示概不就因本公告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （於開曼群島註冊成立的有限公司） （股份代號：2033） Time Watch Investments Limited 時計寶投資有限公 司 董事會會議通告 時計寶投資有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，將於 2025年9月29日（星期一）舉行董事會會議，以（其中包括）批准本公司及其附屬 公司截至2025年6月30日止年度的經審核財務業績、於香港聯合交易所有限公 司及本公司的網站上公佈有關業績公告，以及考慮宣派末期股息（如有）。 承董事會命 於本公告日期，執行董事為董觀明先生、董觀國先生、董偉傑先生及鄧光磊先 生；及獨立非執行董事為王泳強先生、蔡浩仁先生及羅敏儀女士。 時計寶投資有限公司 主席兼執行董事 董觀明 香港，2025年9月17日 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 時計寶投資有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02033 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.1 HKD | | 10,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.1 HKD | | 10,000,000 ...

Core Viewpoint - The company, 时计宝 (02033), has entered into a subscription agreement with KKR Associates Asia Tactical Credit GP SCSp to invest a total of $10 million in KKR Fund II, aiming to enhance capital returns and explore investment opportunities in the Asia-Pacific region [1] Investment Strategy - KKR Fund II focuses on building a diversified investment portfolio, targeting high-conviction, core, and event-driven sectors and companies [1] - The fund primarily invests in various types of credit, including but not limited to high-yield bonds, term loans, self-originated loans, and structured products [1] - KKR Fund II employs a strict capital allocation strategy that emphasizes cross-regional and cross-industry investments to provide attractive risk-adjusted returns [1] Company Background - The company primarily engages in watch manufacturing, retail, and e-commerce in China [1] - The subscription agreement is seen as a prudent way for the company to allocate its idle funds effectively, thereby improving overall capital returns [1] - Participation in a professionally managed fund structure is expected to reduce direct investment risks while providing access to investment opportunities in the Asia-Pacific market [1]

Group 1 - The company, Timepiece Treasure (02033.HK), announced a subscription agreement with general partners on August 29, 2025, agreeing to invest a total subscription amount of 10 million USD, equivalent to approximately 78.49 million HKD, for limited partnership interests in KKR Fund II [1]

Group 1 - The company, 时计宝 (02033), has entered into a subscription agreement with KKR Associates Asia Tactical Credit GP SCSp to invest a total of $10 million in KKR Fund II [1] - KKR Fund II aims to build a diversified investment portfolio focusing on high-conviction, core, and event-driven sectors, targeting attractive and liquid credit opportunities in the Asia-Pacific region [1] - The fund primarily invests in various types of credit, including but not limited to high-yield bonds, term loans, self-originated loans, and structured products, employing a strict capital allocation strategy across regions and industries to provide attractive risk-adjusted returns [1] Group 2 - The company is primarily engaged in watch manufacturing, retail, and e-commerce in China [1] - The board believes that the subscription will allow the company to prudently and effectively allocate its idle funds, thereby enhancing overall capital returns [1] - The subscription also provides the company with investment opportunities in the Asia-Pacific market while reducing direct investment risks through participation in a professionally managed fund structure [1]

認購事項 董事會欣然宣佈，於2025年8月29日，本公司與普通合夥人訂立認購協議，據 此，本公司同意以總認購金額10,000,000美元（相當於約78,490,000港元）認購 KKR基金II的有限合夥權益。 （於開曼群島註冊成立的有限公司） Time Watch Investments Limited 時計寶投資有限公 司 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，並明確表示概不就因本公告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （股份代號：2033） 須予披露交易 認購KKR基金II的有限合夥權益 上市規則的涵義 茲提述本公司日期為2023年7月25日的公告，內容有關本公司於KKR基金I中 的先前認購事項（由KKR投資管理擔任投資管理人）。於2025年6月30日，本 公司於KKR基金I中的有限合夥權益約為1,578,000美元（相當於約12,386,000 港元）。 1 據本公司經作出一切合理查詢後所知、所悉及所信，於本公告日期，普通合 夥人、KKR投資管理及KKR Associates Ascendan ...

Revenue and Profitability - Revenue for the first half of the 2025 fiscal year decreased by approximately 20.6% to about HKD 343.0 million from HKD 432.0 million in the same period of 2024[10]. - Gross profit dropped by approximately 25.5% to about HKD 235.1 million, with a gross profit margin decline from 73.1% to 68.5%[14]. - The revenue from the Tian Wang watch business, which accounted for approximately 83.1% of total revenue, decreased by about 24.9% to HKD 284.8 million[11]. - The company recorded a loss attributable to owners of approximately HKD 10.9 million, compared to a profit of HKD 11.5 million in the previous year[19]. - The group reported a loss before tax of HKD 22,756,000, compared to a profit of HKD 15,360,000 in the previous year[46]. - The company reported a net loss attributable to owners of HKD 10,914,000 for the six months ended December 31, 2024, compared to a profit of HKD 11,482,000 in the same period of 2023, representing a significant decline[47]. - Total comprehensive loss attributable to owners was HKD 14,597,000 for the six months ended December 31, 2024, down from a total comprehensive income of HKD 17,150,000 in 2023[47]. Sales and Distribution - The number of retail points for Tian Wang watches reduced from 1,695 to 1,573, a net decrease of 122 points[11]. - Offline retail sales of Tianwang watches decreased by approximately 25.2% in the first half of the 2025 fiscal year compared to the same period in 2024[22]. - The revenue contribution from the Tianwang watch business for the first half of the 2025 fiscal year was approximately 83.1%, down from 87.8% in the first half of the 2024 fiscal year[22]. - The group aims to reduce underperforming sales points and optimize its sales network to maintain market coverage amid declining sales revenue[43]. Other Income and Expenses - Other income and losses decreased by approximately 16.5% to HKD 33.0 million, primarily due to a drop in interest income and government subsidies[15]. - Selling and distribution costs decreased by approximately 16.5% to HKD 247.7 million, attributed to the closure of retail points and reduction in full-time staff[16]. - The company incurred a loss of HKD 7,513,000 from other gains and losses for the six months ended December 31, 2024, compared to a loss of HKD 7,384,000 in the previous year[62]. - The group’s administrative costs for the six months ended December 31, 2024, were HKD 18,249,000, compared to HKD 17,515,000 in the same period of 2023[59]. Cash Flow and Investments - The cash and cash equivalents as of December 31, 2024, were approximately 861.9 million HKD, down from 959.2 million HKD as of June 30, 2024[27]. - The net cash used in investment activities for the first half of the 2025 fiscal year was approximately 118.7 million HKD, primarily due to purchases of property, plant, and equipment[28]. - Cash generated from operating activities was HKD 56,501,000 for the six months ended December 31, 2024, down from HKD 84,281,000 in the same period of 2023, a decrease of about 33%[51]. - Cash used in investing activities was HKD 118,693,000 for the six months ended December 31, 2024, compared to cash generated of HKD 133,080,000 in 2023, indicating a shift in cash flow dynamics[51]. - The company reported a net cash outflow from financing activities of HKD 39,661,000 for the six months ended December 31, 2024, compared to HKD 85,767,000 in the same period of 2023, showing an improvement in financing cash flow[51]. Assets and Liabilities - The total equity as of December 31, 2024, was approximately 2,265.4 million HKD, a decrease of about 50.8 million HKD from 2,316.2 million HKD as of June 30, 2024[28]. - Non-current assets decreased to HKD 1,109,432,000 as of December 31, 2024, from HKD 995,364,000 as of June 30, 2024, indicating an increase of approximately 11.4%[48]. - Current assets decreased to HKD 1,362,933,000 as of December 31, 2024, from HKD 1,545,509,000 as of June 30, 2024, reflecting a decline of about 11.8%[48]. - The company’s current liabilities increased to HKD 159,037,000 as of December 31, 2024, from HKD 154,723,000 as of June 30, 2024, reflecting a rise of about 2.1%[49]. Employee and Management - The total number of full-time employees was approximately 2,800 as of December 31, 2024, down from about 3,000 on June 30, 2024[35]. - Employee costs for the first half of the 2025 fiscal year were approximately HKD 126.4 million, compared to HKD 137.4 million in the first half of the 2024 fiscal year[35]. - Total employee costs decreased to HKD 126,405,000 in 2024 from HKD 137,426,000 in 2023, reflecting a reduction of approximately 8.2%[66]. - The total remuneration for key management personnel was HKD 6,294,000 for the six months ended December 31, 2024, slightly up from HKD 6,279,000 in the previous year[86]. Shareholding and Corporate Governance - As of December 31, 2024, the chairman and CEO, Mr. Tung Koon Ming, held 1,466,869,000 shares, representing 71.27% of the company[97]. - Major shareholder Tung Koon Ming Family (PTC) Limited held 1,456,277,000 shares, accounting for 70.76% of the company's total shares[99]. - The total number of issued shares as of December 31, 2024, was 2,058,068,000[100]. - The company confirmed compliance with the corporate governance code during the first half of the 2025 fiscal year[93].

Financial Performance - Revenue for the first half of the fiscal year 2025 was approximately HKD 343.0 million, a decrease of about HKD 89.0 million compared to HKD 432.0 million in the first half of fiscal year 2024[5]. - The loss attributable to the owners of the company for the first half of fiscal year 2025 was approximately HKD 10.9 million, compared to a profit of HKD 11.5 million in the first half of fiscal year 2024[5]. - Basic loss per share for the first half of fiscal year 2025 was HKD 0.5 cents, while it was a profit of HKD 0.6 cents in the first half of fiscal year 2024[7]. - Gross profit for the first half of fiscal year 2025 was HKD 235.1 million, down from HKD 315.6 million in the same period of the previous year, representing a decrease of approximately 25.5%[6]. - Total comprehensive loss for the period amounted to HKD 15.8 million, compared to a total comprehensive income of HKD 17.2 million in the previous year[7]. - The group reported a pre-tax loss of HKD 22,756,000 for the six months ended December 31, 2024, compared to a pre-tax profit of HKD 15,360,000 for the same period in 2023[20][22]. - The group reported a net loss attributable to shareholders of HKD 10,914,000 for the six months ended December 31, 2024, compared to a profit of HKD 11,482,000 in the same period of 2023[36][37]. - Other income, gains, and losses decreased by approximately HKD 6.5 million or 16.5% to HKD 33.0 million in the first half of FY2025[60]. - The company recorded a loss attributable to owners of approximately HKD 10.9 million in the first half of FY2025, compared to a profit of HKD 11.5 million in the first half of FY2024[65]. Dividend and Equity - The board of directors did not recommend the payment of an interim dividend for the first half of fiscal year 2025, consistent with the previous year[5]. - The group did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous year[34]. - Total equity as of December 31, 2024, was approximately HKD 2,265.4 million, a decrease of about HKD 50.8 million from HKD 2,316.2 million as of June 30, 2024[80]. - The company’s net asset value attributable to owners was HKD 2,265.0 million, down from HKD 2,314.6 million, a decrease of about 2.1%[11]. Cash Flow and Assets - Cash and cash equivalents decreased to HKD 861.9 million from HKD 959.2 million, a decline of about 10.1%[9]. - Trade receivables decreased to HKD 78.0 million from HKD 131.6 million, indicating a reduction of approximately 40.7%[9]. - The company reported a net cash used in operating activities for the first half of the 2025 fiscal year was approximately HKD 56.5 million, a decrease of about HKD 27.8 million from HKD 84.3 million in the first half of the 2024 fiscal year[78]. - Total assets decreased to HKD 2,313.3 million from HKD 2,386.2 million, reflecting a reduction of approximately 3.1%[11]. Sales and Market Performance - The external sales for the Tian Wang watch business were HKD 284,848,000, down from HKD 379,400,000 in the previous year, indicating a decrease of about 25%[20][22]. - The revenue from the Tianwang watch business, which accounted for approximately 83.1% of total revenue in the first half of FY2025, decreased by about HKD 94.6 million or 24.9% to approximately HKD 284.8 million[54]. - The number of sales points for the Tianwang watch business decreased from 1,695 to 1,573, a net reduction of 122 sales points[54][68]. - The company plans to continue optimizing its sales network by reducing underperforming sales points to maintain market coverage[89]. Employee and Operational Costs - The group incurred a total employee cost of HKD 126,405,000 for the six months ended December 31, 2024, compared to HKD 137,426,000 in the same period of 2023, reflecting a reduction of approximately 8%[33]. - Employee costs for the first half of the 2025 fiscal year were approximately HKD 126.4 million, down from HKD 137.4 million in the first half of the 2024 fiscal year[87]. - The company employed approximately 2,800 full-time employees as of December 31, 2024, down from approximately 3,000 as of June 30, 2024[87]. Future Outlook and Strategy - The retail market in China is expected to perform poorly in the second half of 2024 due to ongoing adjustments in the real estate market and international trade tensions, impacting overall retail performance[89]. - The company has successfully controlled sales and operating expenses during revenue contraction to maintain profitability[89]. - The company does not plan any significant acquisitions or disposals of subsidiaries, joint ventures, or major investments in the first half of fiscal year 2025[95]. - The financial position of the company remains strong due to a conservative approach to cash management, ensuring sufficient liquidity and operational capital[91]. - The Chinese retail market in 2025 will be influenced by macroeconomic conditions, policy environment, and consumer trends, with government policies aimed at boosting economic development[92]. Product Development - In the first half of the fiscal year 2025, the company launched a diverse range of fashion watches and carefully designed jewelry products[91]. - The company launched over 10 new models of Tianwang watches in the first half of FY2025, priced between approximately RMB 1,499 and RMB 6,180[69]. - The company has started supplying OEM/ODM watches to corporate clients, monitoring production growth and expanding facilities as needed[91].