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英皇钟表珠宝(00887) - 2023 - 中期业绩

Financial Performance - Total revenue increased by 41.6% to HKD 2,330 million, up from HKD 1,646 million in 2022[4] - Gross profit rose by 38.1% to HKD 725 million, compared to HKD 525 million in 2022[4] - Net profit increased by 116.3% to HKD 186 million, up from HKD 86 million in 2022[19] - Basic earnings per share rose by 115.7% to HKD 2.74, compared to HKD 1.27 in 2022[19] - The profit before tax increased to HKD 224,739,000, compared to HKD 104,261,000 in the previous year, reflecting a growth of 115.0%[56] - The net profit for the period was HKD 185,919,000, which is a significant increase of 116.5% from HKD 85,932,000 in 2022[56] - The company reported a basic earnings attributable to shareholders of HKD 185,919,000 for the six months ended June 30, 2023, compared to HKD 85,932,000 for the same period in 2022, representing an increase of 116%[98] Revenue Breakdown - Jewelry segment sales surged by 86.3% to HKD 544 million, while watch segment sales grew by 31.9% to HKD 1,786 million[4] - Revenue from mainland China and Hong Kong increased by 64.8% and 49.7%, reaching HKD 712 million and HKD 1,153 million respectively, accounting for 30.6% and 49.5% of total revenue[21] Cash and Assets - Cash and cash equivalents increased to HKD 843 million, up from HKD 664 million as of December 31, 2022[4] - The group maintains a net cash position with bank balances and cash increasing to HKD 843 million, and no bank borrowings as of June 30, 2023[29] - Current assets increased to HKD 3,696,014,000 from HKD 3,505,902,000, showing a growth of 5.4%[57] - Non-current assets as of June 30, 2023, were valued at HKD 1,812,290,000, a slight decrease from HKD 1,875,927,000 at the end of 2022[57] - The total equity of the company rose to HKD 4,987,185,000 from HKD 4,845,059,000, indicating a positive trend in shareholder value[58] Store Expansion and Market Presence - The group opened one jewelry store in Hong Kong and two in mainland China during the period[7] - The group plans to continue expanding its presence in key markets, particularly in Hong Kong and mainland China[10] - The group has a total of 91 retail stores across Hong Kong, Macau, mainland China, Singapore, and Malaysia, with approximately 75% of stores located in tier-one and new tier-one cities in mainland China[22] Online and E-commerce Strategy - The online shopping platform for jewelry and watches has been strengthened, with a focus on expanding e-commerce operations[10] - The group is leveraging online shopping platforms to expand its jewelry business and enhance customer experience[26] Employee and Operational Costs - Total employee costs for the period amounted to HKD 161 million, with an increase in sales personnel from 633 to 715[30] Dividends - The board declared an interim dividend of HKD 0.76 per share, up from HKD 0.38 per share in the previous year[21] - The interim dividend declared is HKD 0.76 per share for the fiscal year ending December 31, 2023, up from HKD 0.38 per share in 2022, totaling HKD 51,524,000 compared to HKD 25,762,000 in the previous year[77] Financial Challenges and Caution - The group is cautious about expansion due to potential economic challenges, including interest rate hikes and inflation, and aims to maintain operational efficiency[28] Compliance and Governance - The company maintained compliance with all corporate governance codes as per the listing rules during the reporting period[86] - The interim financial statements have been reviewed by the company's audit committee, consisting of three independent non-executive directors[105] - There were no known violations of the standard code of conduct by employees who may possess price-sensitive information during the reporting period[106]