Core Viewpoint - The luxury goods market is under significant pressure due to changing consumer spending habits, leading to a decline in the financial performance of the company [1][2] Financial Performance - For the six months ending September 30, 2025, the company's revenue decreased by 10.1% year-on-year to HKD 1.618 billion (2024: HKD 1.8 billion) [1] - Gross profit fell by 12.9% year-on-year to HKD 488 million (2024: HKD 560 million), with a slight decrease in gross margin to 30.2% (2024: 31.1%) [1] - Profit attributable to shareholders dropped by 15.1% year-on-year to HKD 101 million (2024: HKD 119 million) [1] Market Conditions - The luxury goods market is expected to remain under pressure in the short term, with Swiss watch exports to mainland China and Hong Kong declining by 16.3% and 8.3% respectively from January to September 2025 [2] - The industry faces challenges from weak discretionary spending and macroeconomic uncertainties, leading to a forecast of continued weak consumer demand in mainland China [2] Strategic Response - The company is adopting a balanced strategy, focusing on strengthening partnerships with leading brands and selectively opening new stores in prime locations to expand market coverage [2] - The company aims to enhance customer loyalty through high-quality service while implementing strict cost management and improving operational efficiency to support sustainable profitability [2]