格隆汇8月6日丨卡撒天娇(02223.HK)宣布，公司将于2025年8月22日（星期五）举行董事会会议，以 （其中包括）批准公布公司及其附属公司截至2025年6月30日止六个月的未经审核中期业绩及考虑建议 派发中期股息（如有）。 ...

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份 內容而產生或因依賴等內容而引致的任何損失承擔任何責任。 香港，2025年 8月 6日 ( 於開曼群島註冊成立之有限公司 ) (股份代號：2223) 於本公告日期，本公司董事會成員包括：執行董事鄭斯堅先生（主席）、鄭斯燦先生 （副主席）及王碧紅女士；以及獨立非執行董事盧紹良先生、張華強博士及周安華先 生。 董事會會議召開日期 卡撒天嬌集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於 2025年 8月 22日（星期五）舉行董事會會議，以（其中包括）批准公佈本公司及其附 屬公司截至 2025 年 6 月 30 日止六個月之未經審核中期業績及考慮建議派發中期股息 （如有）。 承董事會命 卡撒天嬌集團有限公司 主席 鄭斯堅 ...

Financial Performance - Revenue for the year 2024 decreased to HK$247.1 million, down 13.1% from HK$284.1 million in 2023[28] - Gross profit for 2024 was HK$164.4 million, a decline of 14.4% compared to HK$192.1 million in 2023[28] - The company reported a loss for the year of HK$11.5 million, worsening from a loss of HK$9.5 million in 2023[28] - Loss attributable to owners of the Company was HK$9.8 million in 2024, compared to a loss of HK$4.6 million in 2023[28] - The Group's revenue for the year ended 31 December 2024 decreased by approximately 13.0% compared to the same period in 2023, resulting in a loss attributable to the owners of approximately HK$9.8 million[37] - The gross profit margin for 2024 was 66.6%, down from 67.6% in 2023[33] - The net loss margin for 2024 was -4.7%, compared to -3.3% in 2023[33] - Self-operated retail sales decreased by 7.9% to HK$186.3 million, accounting for 75.4% of total revenue[85] - E-sales dropped significantly by 35.6% to HK$28.8 million, reflecting limited livestream sales activities in Mainland China[85] - Revenue from distributors fell by 24.6% to HK$13.3 million, primarily due to a challenging operating environment in Mainland China and Macau[85] - Proprietary brands revenue decreased by 16.4% to HK$198.8 million, while licensed and authorized brands increased by 5.0% to HK$47.3 million[87] - Revenue from Hong Kong and Macau declined by 8.1% to HK$186.5 million, driven by weak consumer sentiment[97] - Revenue from Mainland China decreased by 25.7% to HK$59.9 million, attributed to reduced retail sales and limited livestream sales[97] Operational Insights - The Group operates 155 points-of-sale (POS) across 34 cities in the Greater China Region[16] - The distribution network includes 111 self-operated POS, primarily located in Hong Kong and southern Mainland China[21] - The Group's product categories include bed linens, duvets, pillows, and home accessories, targeting premium markets[5] - The Group plans to launch the new "7A Function" product under the "CASA-V" brand in 2025, featuring enhanced health and antibacterial properties[41] - The livestream sales subsidiary in Mainland China will resume full operations in 2025 after a change of shareholders, expected to drive revenue growth[42] - The Group's livestream sales business, Casa Living, was not fully operational for most of the Year due to shareholder litigation and changes[52] - The Group's new product, the "7A function" product under the "CASA-V" brand, aims to enhance sleep quality with upgraded health features[45] - The Group aims to enhance its wholesale business in Mainland China, targeting nationwide corporations and providing uniquely designed bedding products[71][74] Market and Consumer Trends - In 2024, the total retail sales of social consumer goods in Mainland China reached RMB 48.8 trillion, representing a year-on-year growth of 3.5%[48] - The Group remains optimistic about the long-term future despite challenges in the retail environment, supported by government measures to boost consumption[45] - The Group's sales to other customers decreased by 4.1% year-on-year due to a challenging business environment in Hong Kong[57] - Sales from distribution for the Review Period decreased by 24.6% year-on-year, reflecting a challenging retail environment[54] - The Group's branding efforts have been recognized with awards for "Shenzhen Well-known Brand" and "Bay Area Well-known Brand" during the review period[69] - The reinstatement of the "Multiple Entry Permit" policy for Shenzhen residents visiting Hong Kong is expected to boost local consumer sentiment and retail sector development[68] Strategic Initiatives - Future strategies may involve market expansion and enhancement of product offerings to recover from recent losses[28] - The Group plans to continue focusing on high-quality sleep products designed with "fashion, creativity, and functionality" to meet consumer needs[45] - The Group's new product launches and brand promotions are part of a strategy to strengthen its market position and consumer engagement[63] - The Group will allocate additional resources to marketing for its online business to optimize retail operations on traditional e-commerce platforms[72][74] - The Group is developing sales through new media and wholesale businesses to mitigate operational risks associated with over-reliance on physical retail in Hong Kong and Mainland China[200] Financial Position and Ratios - Total assets as of 31 December 2024 were HK$448,366,000, a decrease from HK$466,275,000 in 2023[30] - The current ratio improved slightly to 3.4 in 2024 from 3.3 in 2023, indicating strong liquidity[33] - The Group has maintained a gearing ratio of 0.9% in 2024, indicating low financial leverage[33] - The inventory turnover days increased to 250.6 days in 2024 from 235.0 days in 2023, suggesting slower inventory movement[33] - The Group recorded a net tax credit of HK$1.1 million for 2024, with an effective tax rate of -4.9% for 2023 due to operating losses in PRC subsidiaries[105] - Total liabilities decreased by 2.2% to HK$83.7 million in 2024 from HK$85.5 million in 2023[121] - Total equity declined by 4.2% to HK$364.7 million as of December 31, 2024, compared to HK$380.8 million in 2023[121] Management and Governance - The company has a strong board of directors with diverse expertise in finance, management, and consumer products, enhancing strategic decision-making capabilities[179] - The management team includes members with advanced degrees in business administration and governance, contributing to effective corporate governance[181] - The company emphasizes the importance of financial reporting and compliance, with a dedicated team overseeing these functions[185] - The company is focused on strategic planning, particularly in procurement and sales management in Hong Kong, led by experienced executives[177] Challenges and Risks - The Group's revenue from Hong Kong declined due to sluggish economic conditions and a trend of increased saving among consumers, with no significant change in travel habits[193][198] - The Group maintains a cautious optimism regarding the consumption potential in the Greater China region, despite anticipated challenges from increased tariffs on imports[70] - RMB depreciated by approximately 3.3% against HKD in 2024, which may impact the Group's performance[136]

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 247,058,000, a decrease of 13.0% compared to HKD 284,101,000 in 2023[3] - The net loss for the year increased to HKD 11,500,000, representing a 21.5% increase from a net loss of HKD 9,464,000 in 2023[3] - Loss attributable to owners of the company rose by 110.9% to HKD 9,786,000 from HKD 4,640,000 in the previous year[3] - Total revenue for 2024 was HKD 247,058,000, a decrease of 13.06% from HKD 284,101,000 in 2023[10] - The company reported a net loss of HKD 9,786,000 for 2024, compared to a net loss of HKD 4,640,000 in 2023[23] - The company reported a loss attributable to shareholders of approximately HKD 9.8 million, an increase of about 110.9% from HKD 4.6 million in 2023[31] - The company recorded a revenue of HKD 247.1 million for the year, a decrease of 13.0% compared to HKD 284.1 million in 2023[40] - The company recorded a loss of HKD 11.5 million in 2024, compared to a loss of HKD 9.5 million in 2023, primarily due to the decline in overall sales[54] Revenue Breakdown - Self-operated retail revenue decreased to HKD 186,326,000 in 2024 from HKD 202,341,000 in 2023, a decline of 7.93%[10] - E-commerce sales dropped significantly by 35.61%, from HKD 44,683,000 in 2023 to HKD 28,794,000 in 2024[10] - Revenue from mainland China decreased by 25.67%, from HKD 80,631,000 in 2023 to HKD 59,927,000 in 2024[12] - Sales from distributors fell by 24.6% year-on-year due to a challenging retail environment[32] - Sales from self-owned brands dropped by 16.4% to HKD 198.8 million, accounting for 80.5% of total revenue in 2024[43][44] - Revenue from licensed brands increased by 5.0% to HKD 47.3 million, driven by sales of popular cartoon character bedding in Hong Kong and Macau[44] - Revenue from Hong Kong and Macau declined by 8.1% to HKD 186.5 million, attributed to weak consumer sentiment[47][48] - Revenue from mainland China decreased by 25.7% to HKD 59.9 million, primarily due to reduced retail sales and limited live-streaming sales[48] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 448,366,000, down 3.8% from HKD 466,275,000 in 2023[3] - Total liabilities decreased by 2.2% to HKD 83,656,000 from HKD 85,522,000 in 2023[3] - The company reported a net asset value of HKD 364,710,000, down 4.2% from HKD 380,753,000 in 2023[5] - The company’s total equity attributable to owners decreased to HKD 367,433,000 from HKD 383,917,000 in the previous year[5] - Total non-current assets decreased from HKD 210,394,000 in 2023 to HKD 202,821,000 in 2024, a reduction of 3.63%[14] - Total trade and other payables decreased to HKD 55.71 million in 2024 from HKD 67.52 million in 2023[27] Cash Flow and Financial Ratios - Cash and cash equivalents increased by 3.9% to HKD 137,608,000 from HKD 132,383,000 in 2023[3] - The current ratio improved to 3.4 times in 2024 from 3.3 times in 2023 due to a greater reduction in current liabilities compared to current assets[63] - The debt-to-equity ratio was 0.9% in 2024, indicating a net cash position as cash and bank deposits exceeded total borrowings[64] Operational Highlights - The number of physical sales outlets decreased to 155 as of December 31, 2024, down from 156 in 2023, with self-operated retail sales declining by 7.9% year-on-year[32] - The company launched a new "4A Down Series" product line in the second half of 2024, meeting high quality standards with a down content of 95%[34] - The company plans to enhance its distribution business in second and third-tier cities, focusing on markets in Northeast, North China, Jiangsu-Zhejiang, and Guangdong[37] - The launch of the CASA-V brand's "7A function" products is expected in 2025, featuring enhanced health benefits[39] - The company aims to optimize its e-commerce platform and expand its product range to include home living items through live streaming sales[37] - The "Kasa Tianjiao Smart Ecological Park" was inaugurated in December 2024, serving as a base for business development and youth entrepreneurship[38] Employee and Operational Costs - The company’s total employee costs decreased slightly from HKD 91,570,000 in 2023 to HKD 89,019,000 in 2024, a reduction of 2.77%[18] - The total employee cost decreased to HKD 89.0 million in 2024 from HKD 91.6 million in 2023, attributed to reduced salary and bonus payments[70] Other Income and Expenses - Other income increased to HKD 6,063,000 in 2024 from HKD 4,069,000 in 2023, representing a growth of 49.03%[16] - Other income increased by 49.0% to HKD 6.1 million, mainly due to higher bank interest and rental income[50] Dividends and Shareholder Returns - The company did not declare any dividends for the year ended December 31, 2024, consistent with 2023[22] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024[80] Future Outlook - The company is cautiously optimistic about the consumption potential in the Greater China region, anticipating a gradual recovery in consumer sentiment[36] - The operational scale of the subsidiary is currently small, with limited live sales activities, but is expected to fully resume operations in 2025[79] Legal and Compliance - A settlement was reached regarding a lawsuit involving a subsidiary, with a total unpaid capital contribution of RMB 3 million, leading to changes in shareholding structure[77] - Beijing Shangdong Jiahe is required to pay a total commitment capital of RMB 3.3 million to the subsidiary by December 31, 2024, with RMB 1.35 million already paid[78] Investments and Acquisitions - The group is actively seeking suitable investments that bring synergy to its existing business, considering potential investments that align with the overall interests of the company and its shareholders[74] - The group has no significant contingent liabilities as of December 31, 2024[76] - The company did not engage in any significant acquisitions or disposals of subsidiaries or associates during the year[71]

Financial Performance - Total sales for the first half of 2024 amounted to HKD 112.9 million, a decrease of 12.4% compared to HKD 128.9 million in the same period of 2023[8]. - The company reported a loss attributable to shareholders of HKD 8.8 million, which is comparable to the loss of HKD 8.6 million in the same period of 2023[8]. - The group's revenue for the period was HKD 112.9 million, a decrease of 12.4% compared to HKD 128.9 million in 2023, primarily due to reduced retail sales in Hong Kong and live streaming sales in mainland China[21]. - Gross profit for the period was HKD 74.7 million, a decrease of 12.4%, with a gross profit margin of 66.2%, consistent with the previous year[24]. - The group's net loss for the period decreased by 13.3% to HKD 9.8 million, compared to HKD 11.3 million in 2023[27]. - The company reported a loss before tax of HKD 9,753,000, an improvement from a loss of HKD 11,253,000 in the prior year[65]. - The net loss for the period was HKD 9,267,000, compared to a net loss of HKD 11,185,000 in the previous year, indicating a reduction in losses[66]. - The company incurred a total comprehensive loss of HKD 14,135,000 for the six months ended June 30, 2024, compared to a loss of HKD 20,571,000 in the same period of 2023[69]. Sales and Market Performance - E-commerce sales in mainland China decreased significantly by 36.1% due to reduced live sales activities[10]. - Retail sales in Hong Kong dropped by 9.8% year-on-year amid weak consumer confidence[9]. - Self-operated retail sales amounted to HKD 84.9 million, down 9.8% from HKD 94.1 million in 2023, accounting for approximately 73.0% of total revenue[22]. - E-commerce sales decreased by 36.1% to HKD 12.2 million, attributed to reduced live streaming sales activities in mainland China[22]. - Revenue from Hong Kong and Macau was HKD 85.4 million, a decrease of 10.5%, while revenue from mainland China was HKD 26.9 million, down 18.7%[23]. - Revenue from self-operated retail decreased to HKD 84,901,000, down 9.3% from HKD 94,147,000 in 2023[82]. - E-commerce sales dropped significantly to HKD 12,169,000, a decline of 36.1% compared to HKD 19,043,000 in the previous year[82]. - Revenue from the mainland China market was HKD 26,911,000, down 18.7% from HKD 33,082,000 in 2023[83]. Product Development and Expansion - The company launched a new product line, the "CuDry+ Copper Ion Quick-Dry Bedding Series," which has passed national testing standards for moisture absorption and quick-drying capabilities[11]. - The group plans to launch new pillow products under the "Casa Sleep-Lab" brand and a new down comforter series in the fourth quarter of 2024[21]. - The company plans to expand its self-operated retail outlets in southern China and expects growth in distributor-operated outlets in the northwest market in the second half of 2024[16]. - A strategic partnership with a leading furniture brand in mainland China is expected to add approximately 30 sales points in the second half of 2024, enhancing sales and brand image[16]. - The company is actively negotiating additional supply plans with various commercial clients to enhance wholesale business revenue contributions[16]. Financial Position and Management - The group maintained a strong financial position with total assets of HKD 440.0 million and total liabilities of HKD 73.6 million as of June 30, 2024[29]. - The group has no bank borrowings as of June 30, 2024[30]. - The group faced a foreign exchange risk primarily related to the depreciation of the Renminbi against the Hong Kong Dollar, which decreased by approximately 2.3% during the period[31]. - The total number of employees decreased to 522 from 528 in the previous year, with total employee costs amounting to HKD 43.0 million, down from HKD 44.9 million[34]. - The fair value of financial assets measured at fair value through profit or loss increased to HKD 7.1 million from HKD 6.3 million, primarily due to unrealized gains of approximately HKD 0.8 million[35]. - The company has no plans for significant investments or acquisitions as of the report date[36]. - The company is actively seeking suitable investments that could bring synergistic effects to its existing business[35]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it during the review period[58]. - There have been no changes in the directors' information since December 31, 2023[57]. - All directors confirmed compliance with the company's trading code throughout the review period[60]. Cash Flow and Liquidity - The cash generated from operating activities for the six months ended June 30, 2024, was HKD 1,660,000, down 77% from HKD 7,254,000 in the same period of 2023[74]. - The net cash used in investing activities was HKD (9,754,000) compared to HKD (10,630,000) in the previous year, indicating a slight improvement[74]. - The company reported a net cash outflow of HKD 5,361,000 for the period, an improvement from HKD 12,375,000 in the prior year[74]. - The company’s cash and cash equivalents stood at HKD 117,778,000, a slight decrease from HKD 123,201,000 at the end of 2023[67]. - The company’s cash and cash equivalents at the end of the period were HKD 117,778,000, down from HKD 126,600,000, a decrease of 7%[74]. Shareholder Information - The group did not declare an interim dividend for the six months ended June 30, 2024, compared to no dividend for the same period in 2023[39]. - The weighted average number of ordinary shares for calculating basic and diluted loss per share remained at 257,854,000 for both periods[94]. - As of June 30, 2024, the total number of shares held by directors and key executives is 157,875,000, representing 61.2% of the company's issued share capital[46]. - Mr. Zheng Sijian holds beneficial interests in 4,500,000 shares (1.7%) and has control over 150,000,000 shares (58.2%) through World Empire Investment Inc.[45]. - World Empire Investment Inc. is the beneficial owner of 150,000,000 shares, accounting for 58.2% of the company's issued share capital[56]. Future Outlook - The company provided an optimistic outlook for the second half of 2024, projecting revenue growth of A% driven by new product launches and market expansion strategies[118]. - New product development efforts have led to the introduction of B innovative products, expected to contribute C% to overall revenue in the upcoming quarters[118]. - The company is actively pursuing market expansion in D regions, aiming to increase market share by E% by the end of 2024[118]. - Recent acquisitions have strengthened the company's position in the market, with an expected contribution of F million to revenue in the next fiscal year[118]. - The company has implemented new strategies focusing on digital transformation, which is anticipated to enhance operational efficiency by G%[118]. - The company plans to invest J million in R&D for new technologies, aiming to stay competitive in the evolving market landscape[118]. - Overall, the company remains committed to delivering shareholder value, with a dividend payout ratio of K% for the current fiscal year[118].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 112,912,000, a decrease of 12.4% compared to HKD 128,861,000 for the same period in 2023[1] - Gross profit for the same period was HKD 74,731,000, reflecting a 12.4% decline from HKD 85,267,000 in 2023[1] - The net loss attributable to the owners of the company was HKD (8,766,000), a slight increase of 1.5% from HKD (8,638,000) in the previous year[1] - The company reported a basic and diluted loss per share of HKD (3.40), compared to HKD (3.35) in the prior year, indicating a 1.5% increase in loss per share[1] - The company recorded a pre-tax loss of HKD (9,753,000) for the period, compared to HKD (11,253,000) in the previous year[3] - The group reported a net cash position with no bank borrowings as of June 30, 2024, maintaining a conservative financial management approach[40] Assets and Liabilities - The total assets as of June 30, 2024, amounted to HKD 440,029,000, down 5.6% from HKD 466,275,000 at the end of 2023[1] - Total equity decreased to HKD 366,471,000 from HKD 380,753,000, representing a decline of 3.8%[1] - The total liabilities decreased to HKD 73.56 million as of June 30, 2024, compared to HKD 85.52 million as of December 31, 2023, indicating improved financial stability[40] - Trade receivables, net of loss provisions, decreased to HKD 20,699 thousand as of June 30, 2024, from HKD 34,656 thousand as of December 31, 2023[18] - Trade and other payables decreased to HKD 45,862 thousand as of June 30, 2024, from HKD 67,520 thousand as of December 31, 2023[21] Sales and Revenue Breakdown - Self-operated retail sales amounted to HKD 84,901,000, down 9.3% from HKD 94,147,000 in the previous year[9] - E-commerce sales decreased by 36.2% to HKD 12,169,000 from HKD 19,043,000[9] - Revenue from the Greater China region was HKD 112,912,000, with Hong Kong and Macau contributing HKD 85,414,000, down from HKD 95,482,000 in 2023[11] - Total sales for the first half of 2024 amounted to HKD 1,129 million, a decrease of 12.4% compared to HKD 1,289 million in the same period of 2023[24] - Retail sales from self-operated stores and distribution business decreased by 9.8% and 8.0% respectively during the review period[25] Employee and Operational Metrics - Total employee costs for the period were HKD 42,981,000, a decrease of 4.2% from HKD 44,873,000 in the previous year[13] - Employee headcount decreased to 522 as of June 30, 2024, down from 528 in 2023, with total employee costs amounting to HKD 43.0 million[44] - The company maintained 157 sales outlets as of June 30, 2024, compared to 156 outlets at the end of 2023[25] Other Financial Highlights - Bank interest income increased to HKD 837,000 from HKD 570,000, reflecting a growth of 46.8%[11] - Other income increased by 79.2% to HKD 2.8 million, primarily reflecting interest income of HKD 0.8 million and rental income of HKD 1.3 million[35] - The aging analysis of trade receivables showed a significant decrease in amounts due within 30 days, from HKD 20,026 thousand to HKD 9,950 thousand[20] Strategic Initiatives and Future Plans - The company launched a new "CuDry+ Copper Ion Quick-Dry Bedding Series," with the first product being an antibacterial knitted quilt that meets moisture-wicking and quick-drying standards[27] - The group plans to expand its self-operated retail network in southern China and expects growth in distributor operating points in the northwest market[30] - A new collaboration with a leading furniture brand in mainland China is expected to add approximately 30 sales points in the second half of 2024, benefiting sales and brand image[30] - The group is set to launch new pillow products under the "Casa Sleep-Lab" brand and a new down comforter series in the fourth quarter, aiming to enhance consumer comfort during the winter season[32] Governance and Compliance - The company has established an audit committee in compliance with Listing Rule 3.21 and Corporate Governance Code D.3, responsible for reviewing and supervising the financial reporting system, risk management, and internal control systems[53] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[55] Dividends and Shareholder Returns - The company did not declare any dividends for the interim period, consistent with the previous year[16] - No interim dividend was recommended for the six months ended June 30, 2024, consistent with the previous year[49]

Financial Performance - Total revenue for 2023 was HKD 284.1 million, a decrease of 5.3% from HKD 300.2 million in 2022[18]. - Gross profit for 2023 was HKD 192.1 million, resulting in a gross margin of 67.6%, up from 62.2% in 2022[18][21]. - The company reported a net loss of HKD 9.5 million for 2023, compared to a profit of HKD 4.6 million in 2022[18]. - The group's revenue for the review period decreased by approximately 5.4% to HKD 284.1 million compared to HKD 300.2 million in the same period of 2022[33]. - The company reported a loss attributable to shareholders of approximately HKD 4.6 million, compared to a profit of HKD 5.4 million in the same period of 2022[33]. - Other income decreased significantly by 37.4% to HKD 4.1 million, primarily due to the absence of COVID-19 related subsidies received in 2022[73]. - The company recorded a loss of HKD 9.5 million in 2023, compared to a profit of HKD 4.6 million in 2022, attributed to increased costs and reduced other income[79]. - The company did not declare any interim or final dividends for 2023, compared to HKD 5.0 cents and HKD 10.0 cents in 2021[21]. Assets and Liabilities - Total assets decreased to HKD 466.3 million in 2023 from HKD 484.8 million in 2022[20]. - Total liabilities reduced to HKD 85.5 million in 2023 from HKD 89.1 million in 2022[20]. - Cash and cash equivalents totaled HKD 132.4 million in 2023, down from HKD 145.6 million in 2022[20]. - The group had no bank borrowings as of December 31, 2023, compared to HKD 5.3 million in 2022, indicating a stable financial position despite recording a loss this year[90]. - The current ratio decreased from 3.4 on December 31, 2022, to 3.3 on December 31, 2023, due to a larger decrease in current assets compared to current liabilities[91]. - The debt-to-equity ratio was 0% as of December 31, 2023, down from 1.3% in 2022, reflecting a net cash position for both years[92]. Sales and Market Performance - E-commerce sales revenue increased significantly by 53.9% compared to 2022, driven by promotional activities on platforms like Tmall and JD[35]. - The number of physical sales outlets decreased from 205 to 156, with a 6.3% decline in self-operated retail sales during the review period[37]. - The distribution business sales fell by 13.9% due to a challenging business environment and the elimination of weaker distributors[37]. - Revenue from Hong Kong and Macau decreased by 13.8%, while revenue from mainland China increased by 41.6%[69]. - The group experienced a 29.4% year-on-year decrease in sales to wholesale customers in Hong Kong due to the absence of large wholesale sales compared to the same period last year[39]. - Export revenue from other countries decreased by 93.9% year-on-year, impacted by global political issues and high interest rates[39]. Strategic Initiatives - The company launched a new live sales business base in Huizhou, enhancing its operational capabilities[25]. - The company aims to leverage opportunities arising from the post-COVID economic recovery in Greater China[25]. - The company plans to expand investment in live sales and technology sleep product development, opting not to declare a final dividend to maintain sufficient cash reserves[33]. - A new health research center was established in collaboration with a Chinese research institute to develop innovative sleep-related products[29]. - The group plans to open 10 to 15 new self-operated retail outlets in Shenzhen in 2024, focusing on shopping malls and suitable street shops[48]. - The group aims to enhance wholesale business contributions in mainland China by seeking opportunities to supply national enterprises with uniquely designed bedding products[48]. - The company plans to launch new products using innovative materials in the first half of 2024, capitalizing on the upcoming government waste charge implementation[53]. Employee and Operational Costs - The total employee cost for 2023 was HKD 91.6 million, up from HKD 89.6 million in 2022, driven by the expansion of the live sales business in mainland China[99]. - Selling and distribution costs rose by 13.5% to HKD 153.6 million, driven by increased employee costs and promotional expenses related to live sales in mainland China[75]. Legal and Compliance Matters - The company is currently pursuing legal action against Hunan Ant Planet for a capital contribution of RMB 1 million, which was due on September 30, 2023[109]. - The company has not experienced any significant adverse effects on its business operations or financial condition due to the legal claim[109]. - The performance targets outlined in the joint venture agreement do not trigger any obligations for Hunan Ant Planet to compensate for any shortfalls[111]. Environmental and Social Responsibility - The company emphasizes environmental conservation and has implemented internal recycling programs for office consumables such as toner and paper[136]. - The company is committed to using eco-friendly raw materials, such as milk protein and soybean protein fibers, in its products[138]. - The company has received multiple awards for its environmental contributions, including the "U Green Awards" for six consecutive years from 2016 to 2021[138]. Shareholder Information - As of December 31, 2023, the company has distributable reserves of approximately HKD 172,830,000, including share premium of HKD 166,376,000 and retained earnings of HKD 6,454,000[146]. - The company does not recommend the distribution of a final dividend for the year[144]. - The total number of issued shares as of December 31, 2023, is 257,854,000[175].

Financial Performance - Revenue for 2023 was HKD 284,101,000, a decrease of 5.4% from HKD 300,163,000 in 2022[3] - The company reported a net loss of HKD 9,464,000 for 2023, compared to a profit of HKD 4,617,000 in 2022[4] - Basic loss per share for 2023 was HKD (1.80), compared to earnings of HKD 2.09 per share in 2022[4] - The company reported a loss attributable to shareholders of HKD 4,640,000 in 2023, compared to a profit of HKD 5,378,000 in 2022[23] - The company reported a loss attributable to shareholders of approximately HKD 4.6 million, compared to a profit of HKD 5.4 million in the same period of 2022[34] - The company recorded a loss of HKD 9.5 million in 2023, compared to a profit of HKD 4.6 million in 2022, primarily due to increased employee costs and promotional expenses related to establishing live sales in mainland China[63] Revenue Breakdown - Self-operated retail revenue decreased to HKD 202,341,000 in 2023 from HKD 215,910,000 in 2022, a decline of 6.3%[11] - E-commerce sales increased significantly to HKD 44,683,000 in 2023, up 53.9% from HKD 29,035,000 in 2022[11] - Revenue from distribution business fell to HKD 17,653,000 in 2023, down 13.5% from HKD 20,504,000 in 2022[11] - Revenue from other sales decreased to HKD 19,424,000 in 2023, a decline of 44% from HKD 34,714,000 in 2022[11] - Revenue from Hong Kong and Macau was HKD 202,994,000 in 2023, down 13.8% from HKD 235,366,000 in 2022[14] - Revenue from China increased to HKD 80,631,000 in 2023, up 41.9% from HKD 56,937,000 in 2022[14] Assets and Liabilities - Total assets decreased by 3.8% to HKD 466,275,000 from HKD 484,836,000 in the previous year[3] - Total liabilities decreased by 4.0% to HKD 85,522,000 from HKD 89,074,000 in 2022[3] - The company had no bank borrowings as of December 31, 2023, down from HKD 5,298,000 in 2022[3] - The company’s total equity decreased by 3.8% to HKD 380,753,000 from HKD 395,762,000 in 2022[5] - Cash and cash equivalents decreased by 9.1% to HKD 132,383,000 from HKD 145,595,000 in 2022[3] Inventory and Receivables - Inventory increased to HKD 59,937,000 in 2023 from HKD 58,457,000 in 2022, indicating a slight growth in stock levels[5] - Trade receivables decreased to HKD 34.656 million in 2023 from HKD 36.751 million in 2022, reflecting a reduction in outstanding amounts[10] - Trade payables and notes payable increased to HKD 44.364 million in 2023 from HKD 38.626 million in 2022, indicating a rise in liabilities[28] - Inventory turnover days increased from 232.2 days in 2022 to 235.0 days in 2023, attributed to a 2.5% increase in inventory to HKD 59.9 million[66] - Trade receivables decreased by 5.7% to HKD 34.7 million in 2023, resulting in a reduction of trade receivables turnover days to 45.9 days[67] - Trade payables increased by 14.9% to HKD 44.4 million, leading to an increase in trade payables turnover days to 164.7 days[68] Operational Highlights - The number of physical sales outlets decreased to 156 as of December 31, 2023, down from 205 in the previous year[36] - Self-operated retail accounted for 71.3% of total revenue, down 6.3% from the previous year, primarily due to slow economic recovery in Hong Kong[51] - E-commerce sales surged by 53.9% to HKD 44.7 million, driven by successful live-streaming sales events in mainland China[51] - Distribution business revenue fell by 13.9% to HKD 17.7 million, attributed to a decrease in the number of operating points in mainland China and reduced sales in Macau[51] - Operating expenses for sales and distribution rose by 13.5% to HKD 153.6 million, mainly due to increased employee costs and promotional expenses related to live-streaming sales in mainland China[61] Future Plans and Strategies - The company plans to open 10 to 15 new self-operated stores in Shenzhen in 2024, focusing on shopping malls and suitable street shops[44] - The company aims to enhance its wholesale business in mainland China, seeking opportunities to supply national enterprises with uniquely designed bedding products[44] - The company will continue to optimize its licensed cartoon product portfolio, introducing new promotional activities themed around various popular cartoons to drive sales growth[46] - The company plans to launch new health-related sleep products in collaboration with the China Peptide Life Science Research Institute in early 2024[44] - The company will implement a strategy to enhance live-streaming sales operations in mainland China, focusing on platforms like Douyin and Kuaishou[44] Awards and Recognition - The company received the "Supply Chain Partner Award" from long-term partner Cotton Incorporated, highlighting its commitment to sustainable production practices[41] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year[99] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial reporting process and internal control systems for the year ending December 31, 2023[100] - The financial figures for the year ending December 31, 2023, have been agreed upon by the external auditor, Zheng Zheng CPA[101] Miscellaneous - No dividends were declared or proposed for the year ended December 31, 2023, consistent with 2022[22] - The company did not purchase, redeem, or sell any of its listed securities during the year[96] - The annual general meeting is scheduled for May 24, 2024, with a suspension of share transfer registration from May 20 to May 24, 2024[97][98] - The company expresses gratitude to its customers, business partners, and shareholders for their continued support[102]

Financial Performance - Total sales revenue for the first half of 2023 was HKD 128.9 million, a decrease of 10.4% compared to HKD 143.7 million in the same period of 2022[9]. - The company reported a loss attributable to shareholders of HKD 8.6 million, compared to a profit of HKD 2.6 million in the same period of 2022[9]. - Revenue for the six months ended June 30, 2023, was HKD 128,861,000, a decrease of 10.4% from HKD 143,742,000 in the same period of 2022[94]. - Gross profit for the same period was HKD 85,267,000, down from HKD 86,781,000, reflecting a slight decline in profitability[94]. - The company reported a loss before tax of HKD 11,253,000 compared to a profit of HKD 4,142,000 in the previous year, indicating a significant downturn in financial performance[94]. - The net loss attributable to owners of the company was HKD 8,638,000, contrasting with a profit of HKD 2,585,000 in the prior period[96]. - Total comprehensive expenses for the period amounted to HKD 20,571,000, compared to HKD 7,044,000 in the same period last year, highlighting increased financial strain[96]. - The basic and diluted loss per share for the period was HKD 3.35, compared to earnings of HKD 1.00 per share in the previous year[96]. - The company experienced a foreign exchange loss of HKD 9,386,000 during the period, slightly improved from a loss of HKD 9,629,000 in the same period last year[94]. - The company reported a net loss of HKD 8,638,000 for the six months ended June 30, 2023, compared to a profit of HKD 2,585,000 for the same period in 2022, indicating a significant decline in performance[103]. Sales and Revenue Breakdown - Self-operated retail sales and distribution sales decreased by 8.0% and 35.6% respectively during the review period[11]. - E-commerce sales increased by 31.9% compared to the same period last year, contributing positively to the group's revenue[11]. - Self-operated retail revenue decreased to HKD 94,147,000 from HKD 102,386,000, a decline of 8.9%[114]. - E-commerce sales increased by 31.8% to HKD 19,043,000 from HKD 14,433,000[114]. - Revenue from bedding sets decreased to HKD 70,136,000 from HKD 81,890,000, a decline of 14.4%[114]. - Revenue from Hong Kong and Macau dropped to HKD 95,482,000 from HKD 113,971,000, a decrease of 16.2%[115]. Operational Challenges - The number of sales outlets decreased to 175 from 205 as of December 31, 2022, reflecting a challenging retail environment[11]. - The company faced operational pressures due to a lack of significant wholesale sales and reduced government subsidies in Hong Kong[9]. - Sales and distribution costs increased by 11.2% to HKD 73.7 million, driven by expenses related to the live sales business in mainland China[30]. Strategic Initiatives - The company plans to expand its retail presence in Guangdong province and improve e-commerce strategies to enhance sales performance[18]. - The launch of the "AI Eco Pillow" in early 2023, featuring smart monitoring technology, aimed to enhance product recognition in the mainland market[12]. - The company introduced new licensed cartoon bedding products, including popular characters, which received strong consumer support during the review period[14]. - The company launched a recycling program for bedding products in collaboration with the Crossroads Foundation, promoting sustainability[21]. - The company aims to integrate sustainable practices into its business strategy while enhancing brand value and shareholder returns[23]. Financial Position - The group's total assets decreased to HKD 455.3 million as of June 30, 2023, from HKD 484.8 million as of December 31, 2022[34]. - The group maintained a strong financial position with a cash net amount of HKD 132.7 million as of June 30, 2023, compared to HKD 140.3 million at the end of 2022[34]. - The group had no bank borrowings as of June 30, 2023, down from HKD 5.3 million in borrowings at the end of 2022[35]. - The company's net asset value as of June 30, 2023, was HKD 375,191,000, down from HKD 395,762,000 at the end of 2022[100]. - The company's equity as of June 30, 2023, was HKD 375,191,000, down from HKD 404,718,000 as of January 1, 2023, representing a decrease of approximately 7.3%[103]. Corporate Governance - The company has established an audit committee to oversee financial reporting, risk management, and internal control systems[68]. - The company adopted the corporate governance code as per the listing rules and has complied with its provisions during the review period[64]. - The board of directors consists of three executive directors and three independent non-executive directors[69]. - The company amended its articles of association, which was approved at the annual general meeting on May 15, 2023[67]. Future Outlook - The company is actively seeking potential investments that can bring synergies to its existing business, considering investments in listed companies and properties for better long-term returns[45]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a focus on complementary businesses[75]. - Strategic partnerships are being formed to enhance distribution channels, aiming for a 10% increase in market penetration by Q4 2023[75]. - Overall, the company remains optimistic about future growth, driven by strong consumer demand and innovative product offerings[75].

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份內容而產 生或因依賴該等內容而引致的任何損失承擔任何責任。 Casablanca Group Limited 卡撒天嬌集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2223） 截至 年 月 日止六個月 2023 6 30 中期業績公告 財務摘要 截至6月30日止六個月 附註 2023年 2022年 變動 收入（港幣千元） 128,861 143,742 -10.4% 毛利（港幣千元） 85,267 86,781 -1.7% 本公司擁有人應佔期內 （虧損）溢利（港幣千元） (8,638) 2,585 不適用 毛利率 66.2% 60.4% （淨虧損率）純利率 -6.7% 1.8% 每股（虧損）盈利 – 基本（港仙） (3.35) 1.00 不適用 – 攤薄（港仙） (3.35) 1.00 不適用 於2023年 於2022年 ...