2025-06-12 04:04Financial Performance - For the fiscal year ending March 31, 2025, the company's revenue was HKD 5,585 million, an increase of 4.1% compared to HKD 5,367 million for the fiscal year ending March 31, 2024[6]. - The profit attributable to ordinary equity holders for the fiscal year was HKD 116 million, a decrease of 12.1% from HKD 132 million in the previous year[6]. - The gross profit for the fiscal year was HKD 1,319 million, down from HKD 1,409 million, reflecting a gross margin decrease[7]. - Total comprehensive income for the year was HKD 59.5 million, compared to a loss of HKD 23.5 million in the previous year[8]. - The adjusted profit before tax for the fiscal year 2025 was HKD 112,818,000, compared to HKD 161,794,000 in 2024, indicating a decrease of about 30.2%[21]. - The company reported a profit for the year of HKD 116,942,000, down from HKD 138,946,000 in the previous year, which is a decrease of about 15.8%[21]. - The gross profit margin decreased to 23.6%, down 2.7 percentage points from 26.3% in the previous year, influenced by the expansion of the Vietnam factory and changes in the product mix[36]. - The textile business gross profit margin decreased by 1.0 percentage point to 15.3% due to the Vietnam factory still being in the early operational stage[38]. - Operating loss for 2025 was HKD 168 million, compared to a loss of HKD 114 million in 2024[44]. - The total assets return rate was -8.0% in 2025, down from -6.0% in 2024[44]. Dividends - The proposed final dividend is HKD 0.10 per share, with a core earnings payout ratio of 76.9%[6]. - The total dividend for the year will amount to HKD 0.10 per share, up from HKD 0.07 per share in the previous year, celebrating the company's 50th anniversary with a special dividend of HKD 0.05 per share[6]. - The proposed final dividend for the year ended March 31, 2025, is HKD 0.01 per share, down from HKD 0.02 per share in 2024, while a special final dividend of HKD 0.05 per share is proposed for the 50th anniversary celebration[34]. - The total dividend per share for 2025 is proposed at HKD 0.10, an increase from HKD 0.07 in 2024, representing a growth of approximately 42.9%[34]. Assets and Liabilities - Non-current assets decreased to HKD 2,759 million from HKD 2,833 million, while current assets decreased to HKD 4,128 million from HKD 4,275 million[9]. - The company's total liabilities decreased from HKD 2,315 million to HKD 2,118 million, indicating improved financial stability[10]. - The total assets as of March 31, 2025, amounted to HKD 6,887,651,000, down from HKD 7,108,158,000 in 2024, reflecting a decline of approximately 3.11%[22]. - The total liabilities decreased to HKD 2,118,482,000 in 2025 from HKD 2,315,593,000 in 2024, a reduction of about 8.5%[22]. - Accounts receivable as of March 31, 2025, totaled HKD 662,790,000, a decrease from HKD 680,774,000 in 2024, reflecting a decline of about 2.6%[31]. - Accounts payable as of March 31, 2025, amounted to HKD 503,436,000, down from HKD 573,470,000 in 2024, indicating a decrease of approximately 12.2%[32]. Revenue Segments - The revenue from the knitted fabrics, cotton yarn, and garments segment was HKD 4,376,418,000 in 2025, compared to HKD 3,920,887,000 in 2024, showing an increase of approximately 11.6%[21]. - The retail and distribution segment generated revenue of HKD 1,207,085,000 in 2025, a decrease from HKD 1,443,408,000 in 2024, representing a decline of about 16.4%[21]. - Textile business revenue reached HKD 4,376 million, an 11.6% increase from HKD 3,921 million in 2024, accounting for 78.4% of total group revenue[38]. - Net sales in mainland China decreased by 26% to HKD 604 million in 2025 from HKD 816 million in 2024[48]. - The number of retail stores in mainland China decreased to 601 in 2025 from 1,034 in 2024[48]. Market and Strategic Outlook - The company plans to continue focusing on market expansion and product development to drive future growth[6]. - The group maintains a cautiously optimistic outlook for the textile and retail market despite challenges such as high U.S. interest rates and escalating global trade tensions[62]. - The group is optimizing production facilities in Dongguan and Vietnam under the "China +1" strategy, preparing for more complex products with higher average selling prices[64]. - The group aims to diversify its market presence by expanding into new regional markets, leveraging past successes in overseas markets[65]. - The group plans to expand its supplier network to achieve more cost-effective production solutions and shorten production cycles to meet changing market demands[65]. - The group is committed to sustainable development by introducing more energy-saving measures and increasing the use of renewable energy in production processes[64]. - E-commerce business has shown encouraging results, and the physical store network in mainland China and Hong Kong has been further optimized for synergy[65]. Financial Management and Governance - The audit committee has conducted five meetings during the fiscal year to review the internal control system and financial reporting[68]. - The company has voluntarily suspended trading of its securities to ensure fair information dissemination following the unauthorized release of financial data[72].