Financial Performance - The company reported a profit attributable to owners of HKD 259.1 million for the fiscal year ending June 30, 2021, representing a 183.5% increase from HKD 91.4 million in 2020[11]. - Total equity attributable to owners increased to HKD 2,601.8 million, up 19.9% from HKD 2,169.5 million in 2020[11]. - Basic earnings per share rose to HKD 0.125, a 184.1% increase compared to HKD 0.044 in 2020[11]. - Revenue for the fiscal year was approximately HKD 1,918.0 million, an increase of about 11.1% from HKD 1,726.4 million in 2020[23]. - Gross profit increased by approximately HKD 173.6 million, with a gross margin of 75.4% for 2021, up from 73.7% in 2020[23]. - The group recorded an annual profit of approximately HKD 268.5 million for the fiscal year 2021, an increase of about 352.0% compared to HKD 59.4 million in 2020[24]. - Profit attributable to the company's owners rose from approximately HKD 91.4 million in 2020 to about HKD 259.1 million in 2021, representing an increase of approximately 183.5%[24]. - Earnings per share for the fiscal year 2021 were HKD 0.125, up approximately 184.1% from HKD 0.044 in 2020[24]. - Revenue from continuing operations increased by approximately HKD 191.5 million or about 11.1% to approximately HKD 1,918.0 million in fiscal year 2021[32]. Revenue Breakdown - The Tian Wang watch business contributed approximately 85.7% of total revenue, amounting to about HKD 1,643.2 million, an increase of approximately 13.3% from HKD 1,450.3 million in 2020[33]. - The Baige watch business revenue decreased by approximately 15.5% to about HKD 35.9 million in 2021, down from HKD 42.4 million in 2020[34]. - Other brands (China) revenue increased by approximately 12.0% to about HKD 156.9 million, accounting for approximately 8.2% of total revenue in 2021[35]. Operational Changes - The company discontinued its global distribution of third-party licensed international brands to concentrate on core businesses, including Tian Wang and Balco watches[23]. - The group reduced its retail network from 2,738 sales points in 2020 to 2,549 sales points in 2021, primarily focusing on second, third, and fourth-tier cities[25]. - The number of sales points for Tian Wang watches decreased by 143 to 2,226 as of June 30, 2021, while the sales points for Baige watches decreased by 36 to 271[44]. Cash Flow and Assets - The group maintained cash and bank balances of approximately HKD 254.9 million and fixed deposits of about HKD 1,132.2 million as of June 30, 2021[25]. - The net cash generated from operating activities for the fiscal year 2021 was approximately HKD 426.8 million, an increase of approximately HKD 109.9 million compared to HKD 316.9 million in fiscal year 2020[51]. - The total assets of the company reached HKD 3,077.8 million, a significant increase from HKD 2,496.1 million in 2020[13]. - The total equity of the group as of June 30, 2021, was approximately HKD 2,633.8 million, an increase of approximately HKD 440.6 million from HKD 2,193.2 million as of June 30, 2020[52]. Market Conditions and Strategy - The ongoing COVID-19 pandemic has significantly impacted global economic activities, with the company adapting its strategies in response to local government regulations[78]. - The overall retail operating environment in China is expected to be challenging due to frequent extreme weather events and the ongoing COVID-19 pandemic[79]. - The company plans to carefully evaluate the performance of its retail network and optimize sales points to enhance market coverage and profitability[79]. - E-commerce competition has intensified, leading the company to anticipate a slowdown in growth for this sector[80]. - Management expects the company's performance and financial condition to be inevitably affected in the current and coming years due to the challenging retail environment[80]. Governance and Compliance - The management team emphasized the importance of maintaining high corporate governance standards, adhering to the corporate governance code[108]. - The board of directors includes three independent non-executive directors, ensuring balanced decision-making[109]. - The company has established procedures to handle and disclose inside information accurately and securely[141]. - Independent non-executive directors confirmed their independence according to the listing rules, ensuring compliance with governance standards[118]. - The company has arranged suitable liability insurance for its directors to cover responsibilities arising from corporate activities[113]. Future Outlook and Investments - The company has set a revenue guidance for the next fiscal year, projecting a growth of 10% to 12%[108]. - New product launches are expected to contribute an additional $5 million in revenue, with a focus on smartwatches and accessories[106]. - The company is investing in new technology development, allocating $2 million for R&D in the upcoming year[106]. - Market expansion plans include entering two new international markets, aiming for a 5% market share within the first year[106]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $10 million earmarked for potential deals[106].
时计宝(02033) - 2021 - 年度财报