Financial Performance - Revenue for the six months ended September 30, 2025, was HK$1,618,471,000, a decrease of 10.1% from HK$1,800,461,000 in the same period of 2024[4] - Gross profit for the same period was HK$487,638,000, down 13.0% from HK$560,423,000 year-over-year[4] - Profit for the period attributable to owners of the Company was HK$100,782,000, a decline of 15.6% compared to HK$119,398,000 in 2024[5] - Basic earnings per share decreased to 20.68 HK cents from 24.50 HK cents, reflecting a 15.4% drop[5] - Total comprehensive income for the period was HK$124,955,000, down 15.7% from HK$148,307,000 in the previous year[5] Cash and Assets - Cash and cash equivalents increased to HK$978,785,000 from HK$836,081,000, representing a growth of 17.0%[6] - Non-current assets totaled HK$636,452,000, an increase from HK$589,431,000 as of March 31, 2025[6] - Current liabilities rose to HK$464,386,000 from HK$346,991,000, indicating a significant increase of 33.8%[6] - Inventories decreased to HK$446,427,000 from HK$466,304,000, a reduction of 4.0%[6] - As of September 30, 2025, net current assets increased to HK$1,327,301, up from HK$1,307,091 as of March 31, 2025, reflecting a growth of approximately 1.6%[7] Equity and Dividends - Total equity reached HK$1,798,348, up from HK$1,754,782, representing an increase of approximately 2.5%[7] - The company declared a final dividend of HK$20,469,000 and a special dividend of HK$60,920,000 for the fiscal year 2025[8] - The company proposed an interim dividend of HK$25,830,000 and an interim special dividend of HK$75,541,000 for the fiscal year 2026[8] - The total equity attributable to owners of the company increased to HK$1,796,537,000 as of September 30, 2025, compared to HK$1,753,039,000 at the beginning of the period[8] Segment Performance - Segment revenue for Hong Kong decreased to HK$351,481,000 in 2025 from HK$423,882,000 in 2024, a decline of approximately 17%[28] - Segment revenue for The PRC was HK$1,261,103,000 in 2025, down from HK$1,322,763,000 in 2024, representing a decrease of about 5%[28] - Segment profit for The PRC increased to HK$218,149,000 in 2025 from HK$212,328,000 in 2024, a growth of approximately 3.7%[28] Operational Insights - The luxury sector has faced increasing pressure due to a shift in consumer spending towards experiences, travel, and wellness[137] - The Group's performance has been affected by cautious consumer spending patterns prioritizing daily necessities over luxury goods[137] - Watch exports to Chinese Mainland and Hong Kong declined by 16.3% and 8.3%, respectively, between January and September 2025[149] Employee and Governance - The Group had no bank loans as of September 30, 2025, resulting in a nil gearing ratio[151] - Approximately 64% of the Group's 570 employees were located in Chinese Mainland as of September 30, 2025[157] - The Company has adhered to the Corporate Governance Code throughout the reporting period, with a noted deviation regarding the separation of the roles of chairman and chief executive[165] Share Award Scheme - The group has a share award scheme valid for 10 years, aimed at motivating and retaining eligible employees and directors[90] - The total number of awards available for grant under the 2022 Share Award Scheme is 48,735,822 shares, representing 10% of the issued share capital of the Company as of the report date[94] - No share award has been granted under the 2022 Share Award Scheme since the Adoption Date[94]
东方表行集团(00398) - 2026 - 中期财报