智通财经APP讯，创辉珠宝(08537)发布公告，董事会自2021年3月19日起采纳股份奖励计划。 截至本公告日期，并无任何合资格人士获授任何奖励。鉴于受托人截至本公告日期持有已根据股份奖励 计划购买但尚未授予的公司106.3万股股份，且公司不打算于下一财政年度根据股份奖励计划授予进一 步奖励，且公司已于2025年7月31日授出购股权计划，以向合资格参与者提供奖励或奖赏，以奖励其对 集团增长及发展所作出的贡献，为降低公司的行政成本，董事会已决议自2025年8月1日起终止股份奖励 计划。 于股份奖励计划终止后，受托人须于须于接获有关出售通知后，于1年(经受托人与公司协定，或公司可 能另行决定的较长期间)内出售股份池余下的所有股份，并将有关出售的所有现金及所得款项净额以及 股份池余下的其他资金(根据信托契约就所有出售成本、开支及其他现有及未来负债作出适当扣减后)汇 付予公司。 ...

创辉珠宝(08537)发布公告，董事会自2021年3月19日起采纳股份（301122）奖励计划。 截至本公告日期，并无任何合资格人士获授任何奖励。鉴于受托人截至本公告日期持有已根据股份奖励 计划购买但尚未授予的公司106.3万股股份，且公司不打算于下一财政年度根据股份奖励计划授予进一 步奖励，且公司已于2025年7月31日授出购股权计划，以向合资格参与者提供奖励或奖赏，以奖励其对 集团增长及发展所作出的贡献，为降低公司的行政成本，董事会已决议自2025年8月1日起终止股份奖励 计划。 于股份奖励计划终止后，受托人须于须于接获有关出售通知后，于1年(经受托人与公司协定，或公司可 能另行决定的较长期间)内出售股份池余下的所有股份，并将有关出售的所有现金及所得款项净额以及 股份池余下的其他资金(根据信托契约就所有出售成本、开支及其他现有及未来负债作出适当扣减后)汇 付予公司。 ...

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，概不對就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 創 輝 珠 寶 集 團 控 股 有 限 公 司 Chong Fai Jewellery Group Holdings Company Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：8537） 終止股份獎勵計劃 茲提述創輝珠寶集團控股有限公司（「本公司」）日期為2021年3月19日的公告（「該公告」）， 內容有關採納股份獎勵計劃。除另有界定者外，本公告所用詞彙與該公告所界定者具有 相同涵義。 董事會自2021年3月19日起採納股份獎勵計劃。根據股份獎勵計劃，董事獲授權(i)認可及 獎勵合資格人士對本集團作出或將予作出的貢獻或潛在貢獻；(ii)使合資格人士的利益與 本公司的利益保持一致，並使其為本集團的未來發展及擴張奮鬥；及(iii)吸引優秀人才加 入本集團，並激勵彼等為本集團的持續經營及發展效力。 根據股份獎勵計劃的規則，股份獎勵計劃須於(i)採納日期的第八 ...

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7月31日 狀態: 新提交 呈交日期: 2025年8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) | 08537 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,500,000,000 | HKD | | 0.1 | HKD | | 750,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 7,500,000,000 | HKD | | 0.1 | HKD | | 750,000,000 | 本月底法定/註冊股本總額： HKD 750,000,000 FF301 第 1 頁 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對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。 本公告的資料乃遵照香港聯合交易所有限公司的GEM證券上市規則（「GEM上市規則」）而 刊載，旨在提供有關創輝珠寶集團控股有限公司（「本公司」）的資料；本公司董事（「董事」） 願就本公告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就 其所知及所信，本公告所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且 並無遺漏任何其他事項，足以令致本公告或其所載任何陳述產生誤導。 創 輝 珠 寶 集 團 控 股 有 限 公 司 Chong Fai Jewellery Group Holdings Company Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：8537） 於2025年7月31日舉行的 股東週年大會的投票表決結果 — 1 — 於2025年7月31日舉行的本公司股東週年大會（「股東週年大會」）上，日期為2025年7月9 日的股東週年大會 ...

創 輝 珠 寶 集 團 控 股 有 限 公 司 Chong Fai Jewellery Group Holdings Company Limited （ 於 開 曼 群 島 註 冊 成 立 的 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，概不對就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：8537） 於2025年7月31日舉行的 股東特別大會的投票表決結果 茲提述創輝珠寶集團控股有限公司（「本公司」）(i)日期為2025年4月28日的公告及(ii)日期均 為2025年7月16日的通函（「通函」）及股東特別大會（「股東特別大會」）通告（「通告」）。除另 有所指外，本公告所用詞彙與通函所界定者具相同涵義。 董事會欣然宣佈，日期為2025年7月16日的股東特別大會通告所載的所有提呈決議案已獲 股東於股東特別大會以投票表決方式正式通過。 執行董事傅鎮強先生、張麗玉女士、傅雲玲女士及傅浩瀚先生；獨立非執行董事陳昌達 先生、王泳強先生及陳子明先生均已親身出席股東特別大會。 於 ...

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

(Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 Stock code 股份代號 : 8537 2024/25 ANNUAL REPORT 年報 ANNUAL REPORT 年報 2024/25 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") 香港聯合交易所有限公司（「聯交所」）GEM 的特色 GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Main Board. Prospective investors should be aware of the potential risks o ...

General Information & Disclaimers [Disclaimers and GEM Characteristics](index=1&type=section&id=Disclaimers%20and%20GEM%20Characteristics) The Board confirms the announcement's accuracy and completeness, noting the GEM market's higher investment risks for small and medium-sized companies - The Board confirms the information in this announcement is true, accurate, and complete in all material respects, without misleading or fraudulent content[2](index=2&type=chunk)[3](index=3&type=chunk) - The GEM market is designed for small and medium-sized companies, carrying higher investment risks and potentially greater market volatility[4](index=4&type=chunk)[5](index=5&type=chunk)[6](index=6&type=chunk) - Information for GEM listed companies is primarily published via the HKEX website www.hkexnews.hk[7](index=7&type=chunk)[9](index=9&type=chunk) [Company Information](index=3&type=section&id=Company%20Information) In this announcement, "we" refers to Chong Fai Jewellery Group Holdings Limited and its subsidiaries, with the Board pleased to announce the audited consolidated results for the year ended March 31, 2025 - "We" refers to Chong Fai Jewellery Group Holdings Limited and its subsidiaries[11](index=11&type=chunk)[15](index=15&type=chunk) - The Company's Board of Directors announces the audited consolidated results for the year ended March 31, 2025[8](index=8&type=chunk)[10](index=10&type=chunk) Annual Results Highlights [Key Financial Performance](index=2&type=section&id=Key%20Financial%20Performance) For the year ended March 31, 2025, the Group's profit significantly decreased to HK$0.5 million, revenue fell by 5.3%, and basic earnings per share were substantially reduced 2025 Fiscal Year Key Financial Data Summary | Metric | 2025 (HK$ million) | 2024 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Profit | 0.5 | 1.6 | -68.75% | | Revenue | 134.7 | 142.3 | -5.3% | | Gross Profit Margin | 27.2% | 27.5% | -0.3 percentage points | | Basic Earnings Per Share (HK cents) | 0.24 | 1.96 | -87.76% | | Final Dividend | Nil | Nil | - | Management Discussion and Analysis [Outlook](index=3&type=section&id=Outlook) Facing a challenging Hong Kong retail market, the Group plans to deepen market understanding, optimize resources, expand jewelry designs, and enhance social media marketing for future growth - The Hong Kong retail market remains disappointing and challenging, leading to a decline in the Group's total revenue[13](index=13&type=chunk)[17](index=17&type=chunk) - The Group will continue to leverage its in-depth understanding of market and consumer trends, optimizing operational resources to achieve better results[13](index=13&type=chunk)[17](index=17&type=chunk) - Future plans include expanding jewelry design collections, increasing retail presence, and enhancing social media marketing activities to promote long-term growth[14](index=14&type=chunk)[17](index=17&type=chunk) [Business Review](index=4&type=section&id=Business%20Review) The Group operates as a vertically integrated jeweler in Hong Kong, managing seven "Chong Fai Jewellery" retail stores and engaging in wholesale and gold recycling - The Group is a vertically integrated jeweler in Hong Kong, operating **7 "Chong Fai Jewellery" branded retail stores**[18](index=18&type=chunk)[21](index=21&type=chunk) - The Group's main products include gem-set and gold jewelry, also engaging in wholesale and recycled gold product trading[19](index=19&type=chunk)[22](index=22&type=chunk) - The vertically integrated model allows control over the diversity, quality, and pricing of its own jewelry designs[18](index=18&type=chunk)[21](index=21&type=chunk) [Financial Review](index=4&type=section&id=Financial%20Review) The Group's FY2025 revenue decreased by 5.3% to HK$134.7 million, impacted by lower jewelry sales but partially offset by increased recycled gold trade, with declining gross profit and margins 2025 Fiscal Year Revenue Overview | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 134.7 | 142.3 | -7.6 | -5.3% | - The decline in revenue was primarily due to reduced sales of gem-set and pure gold products, partially offset by an increase in recycled gold product trade revenue[20](index=20&type=chunk)[23](index=23&type=chunk) [Revenue by Products](index=5&type=section&id=Revenue%20by%20Products) Revenue from gem-set and gold jewelry products significantly decreased due to reduced local consumption, while recycled gold trade revenue surged from rising global gold prices Revenue Change by Product Category | Product Category | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gem-set Jewelry Products | 47.2 | 55.5 | -8.3 | -14.8% | | Gold Jewelry Products | 24.0 | 52.4 | -28.4 | -54.2% | | Recycled Gold Product Trade | 63.5 | 34.4 | +29.1 | +84.4% | - The decrease in revenue from gem-set and gold jewelry products was mainly attributed to local residents' preference for consumption in mainland China, leading to reduced foot traffic in Hong Kong retail stores[24](index=24&type=chunk)[25](index=25&type=chunk)[27](index=27&type=chunk)[28](index=28&type=chunk) - The significant increase in recycled gold product trade revenue was primarily due to global pure gold prices reaching historical highs in 2025, attracting customers to sell gold products for recycling[26](index=26&type=chunk)[28](index=28&type=chunk) [Revenue by Business (sales channels)](index=6&type=section&id=Revenue%20by%20Business%20%28sales%20channels%29) Retail and wholesale revenues declined due to reduced local consumption, while recycled gold trade revenue significantly increased, mirroring product-based trends Revenue Change by Business Category | Business Category | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Retail Business | 63.6 | 95.7 | -32.1 | -33.5% | | Wholesale | 7.6 | 12.2 | -4.6 | -37.4% | | Recycled Gold Product Trade | 63.5 | 34.4 | +29.1 | +84.4% | - The decline in retail business revenue was mainly due to local residents' preference for consumption in mainland China, leading to reduced foot traffic in Hong Kong retail stores[29](index=29&type=chunk)[30](index=30&type=chunk) - The growth in recycled gold product trade revenue was primarily due to global pure gold prices peaking in 2025, attracting customers to sell gold products[29](index=29&type=chunk)[30](index=30&type=chunk) [Cost of goods sold](index=7&type=section&id=Cost%20of%20goods%20sold) The Group's cost of goods sold decreased by 4.9% year-on-year to HK$98.1 million Cost of Goods Sold Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Cost of Goods Sold | 98.1 | 103.1 | -5.0 | -4.9% | [Overall Gross Profit and Gross Profit Margin](index=7&type=section&id=Overall%20Gross%20Profit%20and%20Gross%20Profit%20Margin) Gross profit decreased by 6.5% to HK$36.6 million, with the gross profit margin slightly declining from 27.5% to 27.2% Gross Profit and Gross Profit Margin Change | Metric | 2025 (HK$ million/%) | 2024 (HK$ million/%) | Change (HK$ million/percentage points) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gross Profit | 36.6 | 39.2 | -2.6 | -6.5% | | Gross Profit Margin | 27.2% | 27.5% | -0.3 percentage points | - | - There were no significant changes in the gross profit margin policy for gem-set jewelry products in FY2025[32](index=32&type=chunk)[35](index=35&type=chunk) [Other income](index=7&type=section&id=Other%20income) Other income increased by HK$0.3 million to HK$1.0 million, primarily driven by higher bank interest income Other Income Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | | :--- | :--- | :--- | :--- | | Other Income | 1.0 | 0.7 | +0.3 | - The increase in other income was mainly due to higher bank interest income[33](index=33&type=chunk)[36](index=36&type=chunk) [Other gains/(losses), net](index=8&type=section&id=Other%20gains%2F%28losses%29%2C%20net) Net other gains improved to HK$0.5 million from a net loss in FY2024, mainly due to fair value gains on financial assets at fair value through profit or loss Other Gains/(Losses), Net Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | | :--- | :--- | :--- | | Other Net Gains/(Losses) | 0.5 | (0.5) | - The net gain was primarily due to a net gain of approximately **HK$0.4 million** on financial assets at fair value through profit or loss in FY2025, compared to a net loss of approximately **HK$0.6 million** in FY2024[37](index=37&type=chunk)[41](index=41&type=chunk) [Finance costs](index=8&type=section&id=Finance%20costs) Finance costs decreased year-on-year to HK$1.0 million Finance Costs Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | | :--- | :--- | :--- | | Finance Costs | 1.0 | 1.2 | [Selling and distribution costs](index=8&type=section&id=Selling%20and%20distribution%20costs) Selling and distribution costs decreased by 6.1% to HK$19.1 million, primarily due to reduced staff salaries and benefits Selling and Distribution Costs Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Selling and Distribution Costs | 19.1 | 20.4 | -1.3 | -6.1% | - The cost reduction was mainly due to a decrease of approximately **HK$0.7 million** in other staff salaries and benefits[39](index=39&type=chunk)[43](index=43&type=chunk) [General and administrative expenses](index=8&type=section&id=General%20and%20administrative%20expenses) General and administrative expenses decreased by 3.4% to HK$15.3 million, mainly attributable to lower staff salaries and benefits General and Administrative Expenses Change | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | General and Administrative Expenses | 15.3 | 15.8 | -0.5 | -3.4% | - The decrease in expenses was mainly due to a reduction of approximately **HK$0.4 million** in other staff salaries and benefits[40](index=40&type=chunk)[44](index=44&type=chunk) Liquidity and Financial Resources and Treasury Policy [Liquidity and Financial Resources](index=9&type=section&id=Liquidity%20and%20Financial%20Resources) Total assets increased to HK$140.1 million, total liabilities decreased, and shareholders' equity increased, with a significantly improved liquidity ratio of 2.94 times Liquidity and Financial Resources Overview | Metric | 2025 (HK$ million) | 2024 (HK$ million) | | :--- | :--- | :--- | | Total Assets | 140.1 | 118.1 | | Total Liabilities | 42.9 | 47.2 | | Shareholders' Equity | 97.2 | 70.9 | | Total Interest-bearing Borrowings | 16.5 | 22.8 | | Current Ratio | 2.94 times | 1.88 times | - The improvement in the current ratio was primarily due to a decrease in bank borrowings and an increase in bank balances and cash[46](index=46&type=chunk)[49](index=49&type=chunk) - The Directors believe that the Group's financial resources are sufficient to support its business and operations[48](index=48&type=chunk)[51](index=51&type=chunk) [Gearing Ratio](index=9&type=section&id=Gearing%20Ratio) The gearing ratio decreased from 32.1% to 17.0%, primarily due to a reduction in bank borrowings Gearing Ratio Change | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Gearing Ratio | 17.0% | 32.1% | - The decrease in the gearing ratio was mainly due to a reduction in bank borrowings[47](index=47&type=chunk)[50](index=50&type=chunk) - As of March 31, 2025, the Group had no available unused bank loan facilities[47](index=47&type=chunk)[51](index=51&type=chunk) [Treasury Policy](index=10&type=section&id=Treasury%20Policy) The Group maintains a prudent financial management strategy, ensuring robust liquidity, regularly reviewing trade receivables, and centralizing treasury activities - The Group adopts a prudent financial management strategy to maintain a sound liquidity position[52](index=52&type=chunk)[56](index=56&type=chunk) - Management regularly reviews the recoverability of trade receivables and centrally manages treasury activities[52](index=52&type=chunk)[56](index=56&type=chunk) - Cash is generally deposited with major licensed banks in Hong Kong and denominated in Hong Kong dollars[52](index=52&type=chunk)[56](index=56&type=chunk) [Contingent Liabilities](index=10&type=section&id=Contingent%20Liabilities) As of March 31, 2025, the Group and the Company had no significant contingent liabilities - As of March 31, 2025, the Group and the Company had no significant contingent liabilities (2024: Nil)[53](index=53&type=chunk)[57](index=57&type=chunk) [Capital Commitments](index=10&type=section&id=Capital%20Commitments) As of March 31, 2025, the Group had no capital commitments - As of March 31, 2025, the Group had no capital commitments (2024: Nil)[54](index=54&type=chunk)[58](index=58&type=chunk) [Pledge of Assets](index=10&type=section&id=Pledge%20of%20Assets) As of March 31, 2025, the Group had no assets pledged - As of March 31, 2025, the Group had no assets pledged (2024: Nil)[55](index=55&type=chunk)[59](index=59&type=chunk) Corporate Governance and Other Information [Dividends](index=3&type=section&id=Dividends) The Board does not recommend paying any final dividend for the year ended March 31, 2025 - The Board does not recommend paying any final dividend for the year ended March 31, 2025 (2024: Nil)[12](index=12&type=chunk)[16](index=16&type=chunk) [Corporate Governance Practice](index=11&type=section&id=Corporate%20Governance%20Practice) The Company adheres to GEM Listing Rules' Corporate Governance Code, with the Chairman and CEO roles combined, deemed in the Group's best interest with effective checks and balances - The Company is committed to achieving and maintaining the highest level of corporate governance and complies with the Corporate Governance Code in Appendix C1 of the GEM Listing Rules[60](index=60&type=chunk)[63](index=63&type=chunk) - The combined roles of Chairman and Chief Executive Officer, held by Mr. Fu Zhenqiang, deviate from Code Provision C.2.1[60](index=60&type=chunk)[61](index=61&type=chunk)[63](index=63&type=chunk) - The Board believes this arrangement is in the best interest of the Group, with senior management and the Board providing effective checks and balances on Mr. Fu's power[61](index=61&type=chunk)[63](index=63&type=chunk) [Directors' Securities Transaction](index=11&type=section&id=Directors%27%20Securities%20Transaction) The Company adopted GEM Listing Rules' trading standards for directors' securities transactions, with all directors confirming compliance in FY2025 - The Company has adopted the required standards of dealing as set out in Rules 5.48 to 5.67 of the GEM Listing Rules[62](index=62&type=chunk)[64](index=64&type=chunk) - All Directors confirmed compliance with the required standards of dealing for the year ended March 31, 2025, with no non-compliance incidents found[62](index=62&type=chunk)[64](index=64&type=chunk) [Purchase, Sale or Redemption of Listing Securities](index=12&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Listing%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's shares during the year ended March 31, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's shares during the year ended March 31, 2025[65](index=65&type=chunk)[69](index=69&type=chunk) [Audit Committee](index=12&type=section&id=Audit%20Committee) The Company established an Audit Committee comprising three independent non-executive directors, responsible for reviewing the Group's audited consolidated financial information - The Company has established an Audit Committee comprising three independent non-executive Directors: Mr. Chan Tsz Ming (Chairman), Mr. Chan Cheong Tat, and Mr. Wong Wing Keung[66](index=66&type=chunk)[70](index=70&type=chunk) - The Audit Committee has reviewed the financial information for FY2025 contained in this announcement, which has been audited by the Group's external auditor[67](index=67&type=chunk)[70](index=70&type=chunk) [Event After the Reporting Period](index=12&type=section&id=Event%20After%20the%20Reporting%20Period) Post-reporting period, Depasser acquired an additional 17% equity in associate Grand Rise for HK$9.7 million, increasing the Group's indirect stake to 30% - On April 10, 2025, Depasser Group Holdings Company Limited (a wholly-owned subsidiary of the Company) entered into a sale and purchase agreement with Mr. Fu (holder of 87% equity in Grand Rise Creation Limited)[68](index=68&type=chunk)[71](index=71&type=chunk) - Depasser acquired a **17% equity interest** in Grand Rise for a cash consideration of approximately **HK$9.7 million**[68](index=68&type=chunk)[71](index=71&type=chunk) - Following the acquisition, the Group will indirectly hold a **30% equity interest** in Grand Rise, which remains an associate of the Group[68](index=68&type=chunk)[71](index=71&type=chunk) [Sufficiency of Public Float](index=13&type=section&id=Sufficiency%20of%20Public%20Float) According to public information and the Directors' knowledge, the Company maintained a sufficient public float of not less than 25% as required by GEM Listing Rules - The Company maintains a sufficient public float of not less than **25%** of its issued shares, as required by the GEM Listing Rules[72](index=72&type=chunk)[76](index=76&type=chunk) [Annual General Meeting](index=13&type=section&id=Annual%20General%20Meeting) The Company expects to hold its Annual General Meeting on August 7, 2025, with the notice to be published and dispatched to shareholders in due course - The Company expects to hold its Annual General Meeting on **Thursday, August 7, 2025**[73](index=73&type=chunk)[77](index=77&type=chunk) - The notice convening the Annual General Meeting will be published and dispatched to shareholders in due course[73](index=73&type=chunk)[77](index=77&type=chunk) [Publication of Annual Results Announcement and Annual Report](index=13&type=section&id=Publication%20of%20Annual%20Results%20Announcement%20and%20Annual%20Report) This results announcement is published on the HKEX and Company websites, with the 2024/25 Annual Report to be dispatched and published in due course - This results announcement has been published on the HKEX website www.hkexnews.hk and the Company's website www.chongfaiholdings.com[74](index=74&type=chunk)[78](index=78&type=chunk) - The 2024/25 Annual Report will be dispatched to shareholders and published on the GEM and Company websites in due course[74](index=74&type=chunk)[78](index=78&type=chunk) [Auditor's Scope of Work](index=13&type=section&id=Auditor%27s%20Scope%20of%20Work) Grant Thornton Hong Kong Limited confirmed the preliminary results align with audited financial statements but did not provide assurance on the preliminary announcement content - The Group's auditor, Grant Thornton Hong Kong Limited, has agreed that the figures in the preliminary results announcement are consistent with the amounts in the audited consolidated financial statements[75](index=75&type=chunk)[79](index=79&type=chunk) - The work performed by Grant Thornton Hong Kong Limited in this respect does not constitute an assurance engagement, and therefore no assurance is provided on the preliminary announcement content[75](index=75&type=chunk)[79](index=79&type=chunk) [Appreciation](index=14&type=section&id=Appreciation) The Board, through its Chairman and CEO, extends gratitude to management, staff, regulators, shareholders, and customers for their contributions and support - Mr. Fu Zhenqiang, Chairman and Chief Executive Officer of the Board, expresses gratitude to the Group's management and staff for their efforts and contributions[80](index=80&type=chunk)[82](index=82&type=chunk) - Appreciation is also extended to regulatory bodies for their guidance and to shareholders and customers for their long-term support[80](index=80&type=chunk)[82](index=82&type=chunk) Consolidated Financial Statements [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=15&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended March 31, 2025, the Group reported revenue of HK$134.7 million, profit for the year of HK$0.5 million, and basic earnings per share of HK$0.24 cents Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 134,678 | 142,274 | | Cost of Goods Sold | (98,057) | (103,091) | | Gross Profit | 36,621 | 39,183 | | Other Income | 970 | 688 | | Other Gains/(Losses), Net | 502 | (498) | | Selling and Distribution Costs | (19,131) | (20,366) | | General and Administrative Expenses | (15,270) | (15,804) | | Finance Costs | (1,018) | (1,249) | | Share of Loss of an Associate | (1,327) | (102) | | Profit Before Tax | 1,347 | 1,852 | | Income Tax Expense | (847) | (260) | | Profit for the Year | 500 | 1,592 | | Other Comprehensive Expense for the Year | (115) | (864) | | Total Comprehensive Income for the Year | 385 | 728 | | Basic and Diluted Earnings Per Share (HK cents) | 0.24 | 1.96 | [Consolidated Statement of Financial Position](index=16&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, total assets were HK$140.1 million, with non-current assets at HK$36.1 million and current assets at HK$104.0 million, resulting in net assets of HK$97.2 million Consolidated Statement of Financial Position Summary | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 15,069 | 13,530 | | Interests in an Associate | 14,981 | 17,322 | | Deferred Tax Assets | 4,681 | 5,528 | | Other Receivables | 1,338 | 704 | | **Total Non-current Assets** | **36,069** | **37,084** | | **Current Assets** | | | | Inventories | 66,577 | 62,890 | | Trade and Other Receivables | 4,617 | 5,151 | | Financial Assets at Fair Value Through Profit or Loss | 1,613 | 1,844 | | Bank Balances and Cash | 31,229 | 11,159 | | **Total Current Assets** | **104,036** | **81,044** | | **Current Liabilities** | | | | Trade and Other Payables | 5,480 | 6,171 | | Contract Liabilities | 6,035 | 5,882 | | Refund Liabilities | 334 | 444 | | Lease Liabilities | 7,008 | 7,769 | | Bank Borrowings | 16,513 | 22,799 | | Long Service Payment Obligations | 4 | 11 | | **Total Current Liabilities** | **35,374** | **43,076** | | **Non-current Liabilities** | | | | Lease Liabilities | 6,642 | 3,433 | | Long Service Payment Obligations | 892 | 695 | | **Total Non-current Liabilities** | **7,534** | **4,128** | | **Net Assets** | **97,197** | **70,924** | | **Total Equity** | **97,197** | **70,924** | Notes to the Consolidated Financial Statements [General Information (Note 1)](index=17&type=section&id=General%20Information%20%28Note%201%29) Chong Fai Jewellery Group Holdings Limited is a public company registered in the Cayman Islands, listed on the GEM of HKEX, with Mr. Fu Zhenqiang as its ultimate controlling party - The Company is a public company incorporated in the Cayman Islands, with its shares listed on the GEM of The Stock Exchange of Hong Kong Limited[88](index=88&type=chunk)[91](index=91&type=chunk) - The ultimate controlling party of the Company is Mr. Fu Zhenqiang[89](index=89&type=chunk)[91](index=91&type=chunk) [Adoption of New and Amended HKFRS Accounting Standards (Note 2)](index=17&type=section&id=Adoption%20of%20New%20and%20Amended%20HKFRS%20Accounting%20Standards%20%28Note%202%29) The Group adopted several revised HKFRS accounting standards in FY2025, which had no significant impact on current or prior period financial statements, with no material future impact expected - The Group first applied several revised HKFRS accounting standards, including amendments to HKFRS 16, HKAS 1, HKAS 7, and HKFRS 7[90](index=90&type=chunk)[92](index=92&type=chunk) - These adoptions had no significant impact on the preparation and presentation of the results and financial position for the current and prior periods[90](index=90&type=chunk)[92](index=92&type=chunk) - New and amended HKFRS accounting standards issued but not yet effective are not expected to have a significant impact on the Group's consolidated financial statements[95](index=95&type=chunk)[98](index=98&type=chunk) [Revenue and Segment Information (Note 3)](index=19&type=section&id=Revenue%20and%20Segment%20Information%20%28Note%203%29) Revenue primarily stems from jewelry sales, recycled gold trade, and processing services, with all external customer revenue generated in Hong Kong, and all operations treated as a single segment - Revenue refers to amounts received and receivable from the sale of jewelry products and recycled gold products, and the provision of jewelry processing services during the year[100](index=100&type=chunk)[102](index=102&type=chunk) - The executive directors consider all operating activities as a single operating segment, thus no segment analysis is presented[101](index=101&type=chunk)[102](index=102&type=chunk) Revenue by Nature of Business | Business Nature | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Jewelry Business | 71,209 | 107,850 | | - Retail Business of Jewelry Stores | 63,584 | 95,662 | | - Wholesale of Jewelry Products | 7,625 | 12,188 | | Recycled Gold Product Trade | 63,469 | 34,424 | | **Total** | **134,678** | **142,274** | Jewelry Business Revenue by Product Category | Product Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Gem-set Jewelry Products | 47,233 | 55,456 | | Gold Jewelry Products | 23,976 | 52,394 | | **Total Jewelry Business** | **71,209** | **107,850** | - The original expected duration of all sales contracts was one year or less, and all external customer revenue was generated from Hong Kong[112](index=112&type=chunk)[113](index=113&type=chunk) [Other Income (Note 4)](index=21&type=section&id=Other%20Income%20%28Note%204%29) Other income increased to HK$0.97 million, mainly due to higher bank interest income and government grants, including funding from the Hong Kong Technology Voucher Programme Other Income Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Bank Interest Income | 381 | 136 | | Dividend Income from Financial Assets at Fair Value Through Profit or Loss | 57 | 59 | | Government Grants | 488 | 432 | | Miscellaneous Income | 44 | 61 | | **Total** | **970** | **688** | - Government grants include cash subsidies from the Chinese government (**HK$336 thousand**) and funding support from the Hong Kong Technology Voucher Programme (**HK$152 thousand**)[115](index=115&type=chunk)[118](index=118&type=chunk) - There are no unfulfilled conditions or other contingencies attached to the receipt of these grants, but there is no guarantee of future receipt[116](index=116&type=chunk)[119](index=119&type=chunk) [Other Gains/(Losses), Net (Note 5)](index=22&type=section&id=Other%20Gains%2F%28Losses%29%2C%20Net%20%28Note%205%29) Net other gains improved to HK$0.502 million from a net loss in FY2024, primarily driven by fair value gains and disposal gains on financial assets at fair value through profit or loss Other Gains/(Losses), Net Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net Exchange Gain | 69 | 111 | | Net Fair Value Gain/(Loss) on Financial Assets at Fair Value Through Profit or Loss | 282 | (26) | | Net Gain/(Loss) on Disposal of Financial Assets at Fair Value Through Profit or Loss | 151 | (583) | | **Total** | **502** | **(498)** | [Finance Costs (Note 6)](index=22&type=section&id=Finance%20Costs%20%28Note%206%29) Finance costs for FY2025 totaled HK$1.018 million, mainly comprising interest on bank borrowings and finance charges on lease liabilities Finance Costs Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest on Bank Borrowings | 704 | 959 | | Finance Charges on Lease Liabilities | 314 | 290 | | **Total** | **1,018** | **1,249** | [Profit Before Income Tax (Note 7)](index=23&type=section&id=Profit%20Before%20Income%20Tax%20%28Note%207%29) Profit before income tax was HK$1.347 million, with key expenses including depreciation, staff costs totaling HK$18.434 million, and increased inventory write-downs Key Expenses for Profit Before Income Tax | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Lease Expenses (Short-term Leases) | 96 | 519 | | Total Depreciation of Property, Plant and Equipment | 9,235 | 9,429 | | Directors' Remuneration | 4,325 | 4,186 | | Total Staff Costs | 18,434 | 20,088 | | Cost of Inventories Recognized | 96,673 | 97,518 | | Write-down of Inventories to Net Realizable Value | 497 | 152 | - The write-down of inventories to net realizable value increased to **HK$497 thousand** in FY2025, primarily involving certain finished goods[126](index=126&type=chunk)[127](index=127&type=chunk) [Earnings Per Share (Note 8)](index=24&type=section&id=Earnings%20Per%20Share%20%28Note%208%29) Basic earnings per share significantly decreased to HK$0.24 cents from HK$1.96 cents in FY2024, with diluted EPS being the same due to no dilutive ordinary shares Earnings Per Share Data | Metric | 2025 | 2024 (Restated) | | :--- | :--- | :--- | | Profit for the Year (HK$ thousand) | 500 | 1,592 | | Weighted Average Number of Shares | 205,961,954 | 81,376,518 | | Basic and Diluted Earnings Per Share (HK cents) | 0.24 | 1.96 | - The weighted average number of ordinary shares for FY2024 has been restated to account for the bonus element effect from the rights issue completed in FY2025[130](index=130&type=chunk) - Diluted earnings per share are the same as basic earnings per share as there are no outstanding potential dilutive ordinary shares[131](index=131&type=chunk) [Income Tax Expense (Note 9)](index=25&type=section&id=Income%20Tax%20Expense%20%28Note%209%29) Income tax expense was HK$0.847 million, primarily deferred tax, with no provision for Hong Kong profits tax or PRC corporate income tax due to carried forward tax losses Income Tax Expense Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong Profits Tax - Current Year | – | – | | PRC Corporate Income Tax - Current Year | – | – | | Deferred Tax | 847 | 260 | | **Total Income Tax Expense** | **847** | **260** | - No provision has been made for Hong Kong profits tax and PRC corporate income tax due to available tax losses carried forward from prior years[133](index=133&type=chunk)[134](index=134&type=chunk) - The corporate income tax rate for PRC subsidiaries is **25%**[134](index=134&type=chunk) [Dividends (Note 10)](index=26&type=section&id=Dividends%20%28Note%2010%29) No dividends were paid or proposed for the years ended March 31, 2025, and 2024, nor were any proposed after the reporting period - The Group has not paid or proposed any dividends for the years ended March 31, 2025, and 2024, nor has it proposed any dividends since the end of the reporting period[137](index=137&type=chunk)[139](index=139&type=chunk) [Trade and Other Receivables (Note 11)](index=26&type=section&id=Trade%20and%20Other%20Receivables%20%28Note%2011%29) Net trade receivables decreased to HK$1.222 million, with approximately 86% neither past due nor impaired, managed through internal credit ratings and a provisioning matrix Trade and Other Receivables Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Receivables (Net) | 1,222 | 1,847 | | Lease Deposits | 2,495 | 2,373 | | Prepayments, Other Deposits and Other Receivables | 920 | 1,252 | | Dividends Receivable from an Associate | 1,014 | – | | Right of Return Assets | 304 | 383 | | **Total** | **5,955** | **5,855** | | Less: Non-current Portion | (1,338) | (704) | | **Current Portion** | **4,617** | **5,151** | Aging Analysis of Trade Receivables (Net) | Aging | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | 0 to 30 days | 480 | 695 | | 31 to 60 days | 236 | 655 | | 61 to 90 days | 288 | 340 | | Over 90 days | 218 | 157 | | **Total** | **1,222** | **1,847** | - Approximately **86%** of trade receivables (2024: 92%) are neither past due nor impaired and are assessed to be of good credit quality[145](index=145&type=chunk)[146](index=146&type=chunk) - The Group manages credit risk using internal credit ratings and a provisioning matrix, with regular reviews of groupings to update debtor information[148](index=148&type=chunk)[149](index=149&type=chunk) [Trade and Other Payables (Note 12)](index=29&type=section&id=Trade%20and%20Other%20Payables%20%28Note%2012%29) Total trade and other payables decreased to HK$5.480 million, with trade payables typically having credit terms within 90 days, extending up to one year for key suppliers Trade and Other Payables Details | Category | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Payables | 1,511 | 2,160 | | Accrued Staff Costs | 2,660 | 2,820 | | Other Payables and Accrued Expenses | 1,309 | 1,191 | | **Total** | **5,480** | **6,171** | Aging Analysis of Trade Payables | Aging | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | 0 to 30 days | 168 | 118 | | 31 to 60 days | 54 | 320 | | 61 to 90 days | 217 | 14 | | Over 90 days | 1,072 | 1,708 | | **Total** | **1,511** | **2,160** | - The credit period for trade payables is generally within **90 days**, but for three major suppliers, the credit period is within **1 year**[155](index=155&type=chunk) - Trade payables include amounts denominated in USD totaling **HK$1.475 million**[158](index=158&type=chunk) [Share Capital (Note 13)](index=30&type=section&id=Share%20Capital%20%28Note%2013%29) The Company implemented a share consolidation on May 28, 2024, increased its authorized share capital, and completed a rights issue in September 2024, raising approximately HK$27 million Share Capital Movement Details | Category | Number of Shares ('000) | Par Value (HK$ thousand) | | :--- | :--- | :--- | | **Authorized Share Capital** | | | | April 1, 2023, March 31, 2024, and April 1, 2024 | 1,500,000 | 15,000 | | Share Consolidation | (1,350,000) | – | | New Issue | 7,350,000 | 735,000 | | **March 31, 2025** | **7,500,000** | **750,000** | | **Issued and Fully Paid Share Capital** | | | | April 1, 2023, March 31, 2024, and April 1, 2024 | 750,000 | 7,500 | | Share Consolidation | (675,000) | – | | Issue of Rights Shares | 225,000 | 22,500 | | **March 31, 2025** | **300,000** | **30,000** | - The Company implemented a share consolidation on **May 28, 2024**, where every **10 shares of HK$0.01** each were consolidated into **1 share of HK$0.1** each[162](index=162&type=chunk) - To facilitate the rights issue and future development, the Company increased its authorized share capital to **HK$750 million** on **August 8, 2024**[165](index=165&type=chunk) - A rights issue was completed in **September 2024**, issuing **225 million rights shares** with total proceeds of approximately **HK$27 million** and net proceeds of approximately **HK$25.888 million**[165](index=165&type=chunk) [Event After the Reporting Period (Note 14)](index=31&type=section&id=Event%20After%20the%20Reporting%20Period%20%28Note%2014%29) On April 10, 2025, Depasser acquired an additional 17% equity in associate Grand Rise for HK$9.7 million, increasing the Group's indirect stake to 30% - On **April 10, 2025**, Depasser Group Holdings Company Limited (a wholly-owned subsidiary of the Company) entered into a sale and purchase agreement with Mr. Fu (holder of 87% equity in Grand Rise Creation Limited)[163](index=163&type=chunk)[164](index=164&type=chunk) - Depasser acquired a **17% equity interest** in Grand Rise for a cash consideration of approximately **HK$9.7 million**[163](index=163&type=chunk)[164](index=164&type=chunk) - Following the acquisition, the Group will indirectly hold a **30% equity interest** in Grand Rise, which remains an associate of the Group[163](index=163&type=chunk)[164](index=164&type=chunk)

Financial Performance - The Group's profit for the six months ended September 30, 2024, was approximately HK$0.3 million, a decrease from approximately HK$1.2 million in the same period of 2023[15]. - The Group's revenue for the six months ended September 30, 2024, was approximately HK$64.0 million, representing a decrease of approximately 20.1% compared to HK$80.1 million for the same period in 2023[15]. - The Group's gross profit decreased by approximately HK$3.7 million, or approximately 16.5%, from approximately HK$22.4 million for the six months ended 30 September 2023 to approximately HK$18.7 million for the six months ended 30 September 2024[40]. - Profit for the period was HK$349,000, a significant decline of 72% compared to HK$1,240,000 in the previous year[150]. - Basic earnings per share decreased to 0.29 HK cents from 1.25 HK cents, reflecting a 77% drop[150]. - The total comprehensive income for the period was a loss of HK$447,000, compared to a profit of HK$995,000 for the same period in 2023[157]. - The net cash generated from operating activities for the six months ended September 30, 2024, was HK$2,270,000, a decrease of 59.8% compared to HK$5,644,000 for the same period in 2023[159]. Revenue Breakdown - Revenue from Gem-set Jewellery Products decreased by approximately HK$5.7 million or 19.0%, totaling approximately HK$24.2 million for the six months ended September 30, 2024[27]. - Revenue from pure gold products decreased by approximately HK$23.2 million or 64.7%, totaling approximately HK$12.7 million for the six months ended September 30, 2024[28]. - Revenue from trading of recycled gold products increased by approximately HK$12.8 million or 88.9%, totaling approximately HK$27.2 million for the six months ended September 30, 2024[35]. - Retail channel revenue was approximately HK$32.7 million, a decrease of approximately HK$26.5 million or 44.9% compared to approximately HK$59.2 million for the same period in 2023[37]. - Wholesale channel revenue was approximately HK$4.2 million, a decrease of approximately HK$2.3 million or 35.4% compared to approximately HK$6.5 million for the same period in 2023[37]. Dividends and Shareholder Returns - The Board does not recommend the payment of any dividend for the six months ended September 30, 2024, consistent with the previous year[15]. - The Board does not recommend the payment of any interim dividend for the six months ended September 30, 2024[20]. - The Group is extending its marketing campaign to social media to enhance shareholder returns and support long-term growth[22]. Assets and Liabilities - As of September 30, 2024, the Group's total assets were approximately HK$136.7 million, an increase from approximately HK$118.1 million as of March 31, 2024[64]. - The Group's total liabilities were approximately HK$40.2 million as of September 30, 2024, down from approximately HK$47.2 million as of March 31, 2024[64]. - The total interest-bearing borrowings of the Group as of September 30, 2024, were approximately HK$19.7 million, a decrease from approximately HK$22.8 million as of March 31, 2024[64]. - The current ratio as of September 30, 2024, was approximately 2.75 times, up from approximately 1.88 times as of March 31, 2024[64]. - The Group's gearing ratio decreased from approximately 32.1% as of March 31, 2024, to approximately 20.4% as of September 30, 2024[64]. Rights Issue and Capital Expenditure - The Company completed a rights issue on 12 September 2024, issuing 225,000,000 Rights Shares and raising approximately HK$26.0 million in net proceeds[52]. - Approximately HK$12.0 million from the rights issue will be invested to open a new retail store by the end of 2024[53]. - Approximately HK$3.0 million will be used to renovate existing retail stores by the end of 2025[53]. - Approximately HK$7.0 million will be allocated to repay bank borrowings and interest due within the following year[53]. Operational Efficiency - Selling and distribution costs were approximately HK$11.7 million for the six months ended September 30, 2024, representing a decrease of approximately HK$0.8 million or approximately 6.3% compared to the corresponding period in 2023[41]. - General and administrative expenses were approximately HK$6.2 million for the six months ended September 30, 2024, a decrease of approximately HK$0.9 million or approximately 13.2% compared to the previous year[45]. - The Group's total staff costs decreased to HK$9,502,000 from HK$10,093,000 in the previous year[191]. Compliance and Governance - The company has confirmed compliance with the trading regulations set forth in the GEM Listing Rules during the review period[80]. - No non-compliance events were discovered during the review period ending September 30, 2024[80]. - The Audit Committee reviewed the Group's unaudited consolidated interim results for the six months ended September 30, 2024, ensuring compliance with accounting standards[137]. - The Board conducted regular reviews of the risk management and internal control systems to ensure their effectiveness[144]. Market Conditions - The overall retail market in Hong Kong remained vulnerable during the reporting period, impacting the Group's performance[26]. - The Group plans to expand its jewellery design collection and retail presence in response to market trends and customer preferences[22]. - The expansion of the retail network aims to capture the growing demand for the Group's jewelry products across various regions[55].