Core Viewpoint - The performance of Luk Fook Holdings in the fiscal year 2025 highlights the challenges faced by gold and jewelry companies during periods of rapidly rising gold prices, with significant sales declines impacting retail revenue despite improved gross margins due to higher gold prices [1][29]. Financial Performance - Luk Fook Holdings reported a revenue of HKD 13.34 billion for the fiscal year 2025, a year-on-year decline of 12.9%, and an annual profit of HKD 1.068 billion, down 39.3% [2][15]. - The company had previously issued a profit warning on June 17, predicting a nearly 40% decline in annual profit, which led to a 13% drop in stock price over three trading days [2][29]. - Following the earnings announcement, the stock initially rose by 9% but closed with a gain of 4.36% as the actual results aligned with the profit warning [2][29]. Market Comparison - Compared to newly listed competitors like Chow Tai Fook and other peers, Luk Fook's stock performance post-earnings was less impressive, although it outperformed some other gold and jewelry companies [5][29]. Gold Price Impact - The average spot gold price reached HKD 600 per gram in fiscal year 2025, a 28.5% increase year-on-year, negatively affecting consumer sentiment and leading to a 15% decrease in sales of gold and platinum products by weight, with an estimated sales volume drop of 34% [7][29]. Store Network and Sales - The total number of global stores decreased to 3,287, a net reduction of 296 stores or 9% year-on-year, with a significant decline in the number of franchise stores in mainland China [10][29]. - Retail revenue, which is the core income source for the company, fell by 13.5% to HKD 11.03 billion, accounting for 82.7% of total revenue [16][29]. Operational Efficiency - Luk Fook's inventory turnover days exceeded 400, indicating significant inventory management challenges compared to competitors like Chow Tai Fook [23][29]. - The company’s gross profit margin improved by 5.9 percentage points to 33.1%, while its operating profit margin decreased to 10.6% [25][29]. Financial Strategy - The company maintains a conservative financial strategy with a low debt-to-asset ratio of 26.57% and a cautious expansion approach, resulting in a total asset turnover rate below 80% [27][29]. - The net asset return rate for Luk Fook was 8.43%, significantly lower than Chow Tai Fook's 22.69%, reflecting the need for improvements in capital efficiency [29].

Financial Performance - Revenue reached HK$13,341 million[8] - Operating profit was HK$1,412 million, a decrease of 33.3% year-over-year[8,10] - Profit attributable to equity holders amounted to HK$1,100 million, down 37.8%[8] - Adjusted operating profit (excluding gold hedging losses) was HK$1,904 million, up 14.8%[8] - Basic earnings per share were HK$1.87, a decrease of 37.9%[8] Dividends - Annual dividend per share was HK$1.10[8] - Dividend payout ratio was 59%[8] - Proposed final dividend per share is HK$0.55[8] Key Financial Indicators - Inventories increased to HK$10,739 million, a rise of 12.2%[18] - Net cash/ (borrowing) was -HK$205 million, a decrease of 135.9%[18] - Average inventory turnover days increased to 427 days[18] Revenue Breakdown - Revenue from Hong Kong, Macau & Overseas was HK$8,068 million[22] - Revenue from Mainland China was HK$5,273 million[22] - Retailing revenue was HK$11,031 million[25] - Wholesaling revenue was HK$1,406 million[25] - Licensing revenue was HK$904 million[25]

Financial Data and Key Metrics Changes - Revenue reached HKD 13.3 billion, a 12.9% decrease compared to the same period last year, primarily due to a decline in sales of gold products caused by high gold prices [6] - The group's profit for the year decreased by 39.3% to HKD 1 billion, with basic earnings per share decreasing by 37.9% to HKD 1.87 [6][7] - Total operating expenses increased by 13.7% to around HKD 2.6 billion, leading to an increase in the ratio of total operating expenses to revenue by 4.6 percentage points to 19.6% [8][27] - The group's NAV per share was HKD 22.38, a 2.2% increase from the same period last year [11] Business Line Data and Key Metrics Changes - Retailing revenue decreased by 13.5% to HKD 11.1 billion, accounting for 82.7% of the group's total revenue, with segment profit decreasing by 17.7% to HKD 1 billion [14] - Licensing income decreased by 12.6% to HKD 904 million, accounting for 6.8% of the group's total revenue [16] - Wholesaling revenue declined by 8.8% to HKD 1.4 billion, accounting for 10.5% of the group's total revenue, with segment profit decreasing to HKD 14 million [15] Market Data and Key Metrics Changes - Revenue from Hong Kong, Macau, and overseas markets decreased by 19.6% to HKD 8.07 billion, accounting for 60.5% of the group's revenue [11] - Revenue from the Mainland market decreased by 0.2% to RMB 5.3 billion, accounting for 59.5% of the group's total revenue, with segment profit decreasing by 40.7% to HKD 577 million [12] - Retailing revenue in Mainland increased by 10.4% to HKD 3.1 billion, accounting for 59.9% of Mainland market's total [21] Company Strategy and Development Direction - The group has set a new three-year corporate strategy focusing on overseas market expansion, market-oriented products, and operational efficiency enhancements [29] - Plans to enter three more countries and establish 50 new overseas shops within the next three years [29] - The group aims to net 50 shops in the Mainland market and approximately 20 shops in overseas markets in financial year 2026 [31] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about medium to long-term business prospects in the Mainland and expects improvement in the Hong Kong market [30][52] - The group anticipates a rebound in sales performance in the Mainland market due to new product launches and effective marketing strategies [48][52] - Management noted that the high gold prices have affected consumer sentiment but expect sales of gold products to normalize as consumers adapt [41][42] Other Important Information - The average international gold price increased nearly 30% year on year, impacting sales of gold and platinum products [17] - The group has integrated ESG principles into its corporate planning and received 40 awards in FY '25 [40] Q&A Session Summary Question: Can you elaborate on the recovery in sales momentum for Mainland China? - Management noted strong performance in fixed price gold jewelry products due to new collections and effective promotions, with a new ambassador contributing positively [48][49][51] Question: What is the ASP trend for fixed price gold products? - The contribution of fixed price gold products to overall retailing revenue increased from 33% to 54%, with expectations for continued growth [56][66] Question: What is the guidance for same store sales growth and profitability? - Management expects double-digit growth for same store sales across all regions in FY 2026, with a stable gold hedging ratio maintained around 20% to 27% [61][62]

Financial Data and Key Metrics Changes - Revenue reached HKD 13.3 billion, a 12.9% decrease compared to the same period last year, primarily due to a decline in sales of gold products caused by high gold prices [5] - The group's profit for the year decreased by 39.3% to HKD 1 billion, with basic earnings per share decreasing by 37.9% to HKD 1.87 [6] - Proposed final dividend of HKD 0.55 per share, with an annual dividend of HKD 1.1 per share and a dividend payout ratio of 59% [6] - Total operating expenses increased by 13.7% to around HKD 2.6 billion, leading to an increase in the ratio of total operating expenses to revenue by 4.6 percentage points to 19.6% [7][27] Business Line Data and Key Metrics Changes - Retailing revenue decreased by 13.5% to HKD 11 billion, accounting for 82.7% of the group's total revenue, with segment profit decreasing by 17.7% to HKD 1 billion [13] - Licensing income decreased by 12.6% to HKD 904 million, accounting for 6.8% of the group's total revenue [15] - Wholesaling revenue decreased by 8.8% to HKD 1.4 billion, accounting for 10.5% of the group's total revenue, with segment profit decreasing to HKD 14 million [14] Market Data and Key Metrics Changes - Revenue from Hong Kong, Macau, and overseas markets decreased by 19.6% to HKD 8.07 billion, accounting for 60.5% of the group's revenue [10] - Revenue from the Mainland market decreased by 0.2% to RMB 5.3 billion, accounting for 59.5% of the group's total revenue [11] - Retailing revenue in Mainland increased by 10.4% to HKD 3.1 billion, accounting for 59.9% of Mainland market's total [21] Company Strategy and Development Direction - The group has set a new three-year corporate strategy focusing on overseas market expansion, market-oriented products, and operational efficiency enhancements [29] - Plans to enter three more countries and establish 50 new overseas shops within the next three years [30] - Commitment to developing e-commerce business and optimizing its own platforms to sustain growth in e-commerce revenue [30] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about medium to long-term business prospects in Mainland and plans to continue expanding in the Mainland market [31] - The group expects same store sales growth across all regions to be in the double digits for FY 2026 [63] - Management noted that high gold prices may affect sales performance, but increased profit margins will help mitigate the impact of declining sales [42] Other Important Information - The average international gold price increased nearly 30% year on year, affecting consumer sentiment and leading to a 15% decrease in sales of gold and platinum products by weight [16] - The group aims to net 50 shops in the Mainland market in FY 2026 and is optimistic about growth potential in overseas markets [31] Q&A Session Summary Question: Can you elaborate on the recovery in sales momentum for Mainland China? - Management noted strong performance in fixed price gold jewelry products due to new collections and effective promotions, with a new ambassador contributing positively to sales [49][50] Question: What is the ASP trend for fixed price gold products? - The contribution of fixed price gold products to overall retailing revenue increased from 33% to 54%, with expectations for continued growth [56][68] Question: What is the guidance for same store sales growth and profitability? - Management expects double-digit growth in same store sales across all regions for FY 2026, with a stable gold hedging ratio maintained [63][61]

Group 1 - The company aims to open 50 new overseas stores in the next three years [1] - The company will continue to expand its presence in the mainland market [1]

EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 六福集團（國際）有限公司 | | 股份代號 | 00590 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年3月31日止年度之末期股息 | | 公告日期 | 2025年6月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年3月31日 | | 宣派股息的報告期末 | 2025年3月31日 | | 宣派股息 | 每 股 0.55 HKD | | 股東批准日期 | 2025年8月21日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.55 HKD | | 匯率 | 1 HKD ...

Financial Performance - The group's revenue for the fiscal year ending March 31, 2025, was HKD 13.34 billion, a decrease of 12.9% compared to the previous year[4] - Net profit for the year decreased by 39.3% to HKD 1.07 billion, primarily due to increased gold hedging losses of HKD 493 million and a comparison with one-time gains from the previous year's acquisition[4] - Operating profit decreased by 33.3% to HKD 1.41 billion, with an operating margin of 10.6%, down 3.2 percentage points[4] - The company reported a total comprehensive income of HKD 976.88 million for the year, down from HKD 1.38 billion in the previous year[6] - Total revenue for the year ended March 31, 2025, reached HKD 13,341,295, an increase from the previous year's HKD 15,325,962[19] - The net profit attributable to equity holders of the company for the year was HKD 1,099,864, down from HKD 1,767,305 in the prior year, indicating a decline of about 38%[19] - The company reported external customer sales of HKD 12,436,940, which is a decrease from HKD 14,291,496 in the previous year, representing a decline of approximately 13%[18] - Total revenue decreased by 12.9% to HKD 13,341,295,000 compared to HKD 15,325,962,000 in 2024[36] - Operating profit fell by 33.3% to HKD 1,412,051,000, with an operating margin decline of 3.2 percentage points to 10.6%[36] - Profit attributable to equity holders decreased by 37.8% to HKD 1,099,864,000, resulting in basic earnings per share dropping by 37.9% to HKD 1.87[29][36] Dividends - The proposed final dividend is HKD 0.55 per share, with a total annual dividend of HKD 1.10 per share, resulting in a payout ratio of 59%[4] - The board of directors proposed a final dividend of HKD 0.55 per share for the year ending March 31, 2025, totaling HKD 645,818,000 in annual dividends[85] - The total dividend for the year, including interim dividends, amounts to HKD 1.10 per share, compared to HKD 1.41 per share in the previous year[85] Store Operations - The company closed 296 stores during the fiscal year[3] - The total number of global stores decreased by 296 to 3,287, including a net decrease of 312 "Lukfook" stores[37] - The number of stores in Mainland China decreased to 3,179, down from 3,490, with a net reduction of 329 "Luk Fook" brand stores[64] - The group opened 10 new overseas stores, increasing the total to 31, including 5 in the USA and Australia each[55] - The company plans to open 50 new stores in the mainland market by the fiscal year 2025/26, reflecting a cautious optimism about long-term business prospects in the region[80] - The company aims to increase its overseas store count by approximately 20 stores in the current fiscal year, targeting significant growth potential in international markets[80] Revenue Breakdown - Retail revenue decreased by 13.5% to HKD 11,031 million, accounting for 82.7% of total revenue[42] - Wholesale revenue declined by 8.8% to HKD 1,406 million, representing 10.5% of total revenue[43] - Brand business revenue fell by 12.6% to HKD 904 million, contributing 6.8% to total revenue[44] - Gold and platinum sales dropped by 15.0% to HKD 8,822 million, making up 70.9% of total sales[46] - The overall revenue from the mainland market decreased by 0.2% to HKD 5,273 million, representing 39.5% of the group's total revenue[69] Profit Margins - Gross profit increased by 5.8% to HKD 4.42 billion, with a gross margin improvement of 5.9 percentage points to 33.1%[4] - The gross profit for gold and platinum products increased by 16.2% to HKD 2,325 million, with a gross margin of 26.4%[47] - The adjusted segment profit for retail was HKD 1,418 million, up 8.4% when excluding gold hedging losses[42] - The overall segment profit decreased by 22.6% to HKD 1,666,000,000, with a profit margin of 12.5%[51] Financial Position - Total assets as of March 31, 2025, amounted to HKD 17.90 billion, an increase from HKD 16.85 billion in the previous year[7] - The company’s total liabilities were reported at HKD 4,755,533, indicating a significant financial obligation[20] - The group’s net debt increased to HKD 205 million, with a debt-to-equity ratio of 36.0%[71] - Inventory increased by 12.2% to HKD 10,739 million, with an average inventory turnover days of 427 days[73] Strategic Initiatives - The company plans to focus on expanding its brand and service fee income, which reached HKD 785,487 for the year[18] - A new three-year corporate strategy starting from the fiscal year 2025/26 will focus on "overseas market expansion," "market-oriented products," and "operational efficiency optimization" to drive future growth[80] - The company is committed to enhancing its e-commerce business and optimizing its platform to boost sales, particularly targeting the young consumer market with its light luxury jewelry offerings[82] - The company will continue to develop market-oriented products, extending its offerings to both high-end and light luxury segments, while utilizing market data for targeted product development[83] - Operational efficiency will be improved through supply chain management, automation, big data analytics, and the application of artificial intelligence technologies[84] Corporate Governance - The company has maintained good corporate governance practices, adhering to the principles of the corporate governance code as per the Hong Kong Stock Exchange[87] - No purchases, sales, or redemptions of the company's listed securities were conducted by the company or its subsidiaries during the review year[89] - The group has confirmed that the preliminary performance announcement aligns with the draft consolidated financial statements for the year ending March 31, 2025[91] - The full-year performance announcement is available on the Hong Kong Stock Exchange website and the company's website[92] Market Performance - Same-store sales improved significantly, with nearly 20% growth in mainland China and stable performance in Hong Kong and Macau from April 1 to June 21, 2025[3] - Overall same-store sales declined by 25.1%, with gold and platinum products down by 28.5% and priced jewelry products down by 14.1%[48] - Retail revenue in Hong Kong dropped by 20.0% to HKD 5,087,290,000, while revenue from Macau fell by 28.5% to HKD 2,068,985,000[54] - Revenue from Hong Kong, Macau, and overseas markets decreased by 19.6% to HKD 8,067,968,000, accounting for 60.5% of total group revenue[59] - Retail revenue in mainland China increased by 10.4% to HKD 3,160,312,000, representing 59.9% of mainland market revenue[62]

1. 成立 1.1 根據本公司於 2011 年 11 月 28 日召開之董事會（「董事會」）會議，董事會決 議成立一個董事會轄下的委員會，稱為提名委員會（「委員會」）。 (「本公司」) 提名委員會 - 職權範圍書 2. 成員 3. 秘書 4. 法定人數 4.1 法定人數須為三名成員，當中包括兩名獨立非執行董事及一名執行董事。經 適當地召集及有法定人數出席之委員會會議，可充份地行使全部或任何賦予 委員會或其可行使之職權、權力及酌情權。 第1頁, 共4頁 2.1 委員會的成員（「成員」）須由董事會委任。委員會須由至少五位成員組成， 而至少一名成員為不同性別。 2.2 委員會主席將會由董事會主席或獨立非執行董事（「獨立非執行董事」）擔任， 成員須由獨立非執行董事佔大多數。 2.3 如委員會主席及／或被委任之代表缺席時，其餘出席的成員須推選其中一位 成員主持會議。惟當處理有關主席繼任人事宜時，董事會主席不能出任委員 會主席。 2.4 只有成員方有權出席委員會會議。但若有適當需要，其他人士如行政總裁、 人力資源部主管及外界顧問可獲邀出席所有或部份會議。 3.1 公司秘書或其代理人須作為委員會秘書。 3.2 委員會可不時 ...

審核委員會 - 職權範圍書 1. 成立 1.1 根據六福集團（國際）有限公司（「本公司」）於 1999 年 2 月 1 日召開之董 事會會議，董事會（「董事會」）決議成立一個董事會轄下的委員會，稱為 審核委員會（「委員會」）。 2. 成員 6. 會議通告 第2頁, 共7頁 3.1 委員會秘書須由本公司之公司秘書擔任。 3.2 委員會可不時委任其他任何具備恰當資格及經驗之人士為委員會之秘書。 5.1 每年應於公佈中期及末期業績前舉行不少於兩次會議。委員會主席、任何 成員或本公司之外聘核數師可在其認為有需要時要求召開會議。 5.2 會議可由成員親身出席、透過電話或視像會議之方式舉行。成員可透過會 議電話或類似通訊設備（所有與會人士均能夠透過該設備聆聽對方）參與 會議。 5.3 於任何會議提呈之委員會決議案，須由出席成員以大多數票數通過。 5.4 委員會全體成員簽署的書面決議應當與在適當召開並舉行的委員會會議上 通過的決議一樣有效和具有效力。 第1頁, 共7頁 2.1 委員會成員（「成員」）須由董事會委任，且委員會必須由至少三名成員 組成。 2.2 成員須限為非執行董事，其中大部分成員須為獨立非執行董事及至少一名 ...

本公告乃六福集團（國際）有限公司（「本公司」）及其附屬公司（「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 條及香港法例第 571 章證券 及期貨條例第 XIVA 部項下內幕消息條文（定義見上市規則）而發出。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，根據對本集 團截至 2025 年 3 月 31 日止年度（「2025 財年」）之未經審核綜合管理賬目草稿進行的 初步審閱為基準，集團預期 2025 財年的年內溢利較去年同期下跌約四成，主要由於金 價飆升導致的黃金對沖損失擴大，以及去年因收購金至尊集團(國際)有限公司（連同其 附屬公司統稱為「金至尊集團」）而錄得的一次性相關收益造成的高基數效應所致。若 撇除黃金對沖損失的影響，經調整後之溢利跌幅會收窄至少於兩成；若再扣除去年收購 金至尊集團所錄得的一次性相關收益作對比，溢利跌幅會進一步收窄至少於一成。 於 2025 年 4 月至 5 月期間，在有效的品牌推廣及產品差異化策略下，集團同店銷售持 續改善，內地市場的同店銷售達雙位數字升幅，而港澳市場同店銷售亦大致持平。隨著 定價首飾產品組合不斷優化及內地市 ...