香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 CITYCHAMP WATCH & JEWELLERY GROUP LIMITED 冠城鐘錶珠寶集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：256） 截至二零二三年六月三十日止六個月之 未經審核中期業績公佈 中期業績 冠 城 鐘 錶 珠 寶 集 團 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 未 經 審 核 簡 明 綜 合 業 績 及 二 零 二 二 年 同 期 之 比 較 數 字。 – 1 – 簡明綜合全面收入表 截至二零二三年六月三十日止六個月 | --- | --- | --- | --- | |-------------------------------------- ...

Financial Performance - The total revenue for the year 2022 was HKD 1,607,388,000, with a significant portion coming from self-owned brands[7]. - The company reported a net loss after tax of HKD 119,437,000 for the year 2022[7]. - In 2022, the company's revenue decreased by 17% to HKD 1.61 billion from HKD 1.93 billion in 2021[10]. - The net loss attributable to the company's owners increased by 9% to HKD 1.11 billion, compared to HKD 1.01 billion in the previous year[10]. - The total revenue for the year ended December 31, 2022, was approximately HKD 1,607,388,000, a decrease of HKD 323,711,000 or 16.8% compared to 2021[15]. - The company reported an EBITDA of HKD 51.73 million, a decline of 53.4% from HKD 110.97 million in 2021[13]. - The company did not recommend a final dividend for the year ended December 31, 2022, to retain sufficient funds for financial needs[10]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion HKD for the fiscal year, representing a 15% year-over-year growth[68]. - The company has set a future outlook with a revenue growth target of 10-15% for the next fiscal year, driven by new product launches and market expansion strategies[68]. Economic Challenges - The company faced significant challenges due to the ongoing COVID-19 pandemic, impacting both business operations and employee well-being[9]. - The company continues to focus on strategic initiatives to navigate through the economic turbulence caused by the pandemic[9]. - The company has implemented measures to increase cash flow and reduce the extent of losses amid ongoing economic challenges[10]. - The company anticipates a rebound in the Chinese economy, with a target growth rate of 5% for 2023 as stated by Premier Li Qiang[10]. - The company is closely monitoring the progress of the COVID-19 pandemic and assessing its impact on business operations[163]. Operational Adjustments - The company emphasized the importance of supporting customers and the operational ecosystem during the crisis[9]. - The company aims to leverage opportunities in the local watch brand market as consumer confidence gradually recovers[10]. - The company plans to develop suitable new products for the e-commerce market to improve unit price and profit margins[24]. - The company is focusing on optimizing management structure and controlling marketing expenses to reduce operational costs[24]. - The company is expanding its e-commerce efforts by integrating live streaming and traditional e-commerce channels[24]. Asset and Liability Management - The total assets of the company were reported at HKD 20,258,229,000 in 2018, showing a slight decline to HKD 19,597,081,000 in 2019[5]. - The total assets decreased by 19.1% to HKD 16.16 billion from HKD 19.96 billion in 2021[14]. - The total liabilities decreased by 21.9% to HKD 11.98 billion from HKD 15.34 billion in 2021[14]. - The company's cash and bank balances were approximately HKD 4,314,638,000 as of December 31, 2022, down from HKD 6,531,968,000 a year earlier[35]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, ensuring compliance with applicable provisions[74]. - The company has a dedicated audit committee and remuneration committee, ensuring transparency and accountability in its operations[72]. - The board consists of 7 executive directors and 4 independent non-executive directors, ensuring a diverse and experienced governance structure[79]. - The company has established mechanisms to ensure the independence of the board, with 4 out of 11 directors being independent non-executive directors, complying with listing rules[81]. - The company emphasizes high transparency and effective communication with shareholders and investors, ensuring timely updates on business performance and financial status[108]. Risk Management - Major risks identified include economic risks, industry risks, e-commerce risks, interest rate risks, exchange rate risks, legal risks, intellectual property risks, and operational risks[153][154][155][156][157][158][159]. - The company is committed to protecting its intellectual property rights globally through collaboration with professionals[158]. - Credit risk is managed by only trading with reputable customers and setting limits on counterparty risks[160]. - The company conducts regular reviews of compliance with applicable laws and regulations to mitigate legal risks[157]. Sustainability and Social Responsibility - The management team emphasized a focus on sustainability initiatives, aiming to reduce carbon emissions by 30% over the next five years[68]. - The company is committed to sustainable development and social responsibility, focusing on minimizing environmental impact and engaging in charitable activities[74]. - The company has established a culture that values inclusivity, encouraging employees to generate new ideas and foster creativity[74]. Future Outlook - The company aims to enhance brand exposure through various low-cost marketing strategies, including exhibitions and social media interactions[23]. - The company is exploring market expansion opportunities in Southeast Asia, aiming to increase market share by 25% in the region over the next two years[68]. - The company anticipates a new development cycle for the watch industry as the global economy, particularly in mainland China, recovers post-COVID[24].

Financial Performance - For the year ended December 31, 2022, the total revenue was HKD 1,607,388,000, a decrease of 16.7% compared to HKD 1,931,099,000 in 2021[2] - The company reported a loss for the year of HKD 119,437,000, compared to a loss of HKD 105,376,000 in 2021, representing a 13.4% increase in losses[2] - The basic and diluted loss per share was HKD 2.55, compared to HKD 2.32 in the previous year[5] - The company reported a net loss of HKD 119,437,000 for the year, compared to a net loss of HKD 105,376,000 in the previous year[28] - The company’s loss attributable to shareholders was HKD 111,051,000 for the year ended December 31, 2022, compared to a loss of HKD 100,907,000 in 2021[48] - EBITDA for the year ended December 31, 2022, was approximately HKD 51,728,000, a decrease of HKD 59,238,000 or 53.4% from HKD 110,966,000 in 2021[60] Revenue Breakdown - Total revenue for the period reached HKD 1,607,388,000, with significant contributions from watch and clock products (HKD 1,248,281,000) and banking and financial services (HKD 338,642,000) [26] - The company reported a significant decrease in non-banking and financial business sales revenue to HKD 1,248,281,000 from HKD 1,555,114,000, a drop of 19.7%[2] - Revenue from external customers in 2022 was HKD 1,607,388 thousand, a decrease from HKD 1,931,099 thousand in 2021, with notable declines in the Chinese market[31] - Revenue from watch and timing products for the year ended December 31, 2022, was HKD 255,398,000, a decrease of HKD 98,352,000 or 27.8% compared to HKD 353,750,000 in 2021[70] - Non-banking and financial business revenue decreased to HKD 1,268,746,000 in 2022, a decline of 19% compared to HKD 1,571,138,000 in 2021[38] Assets and Liabilities - Total assets decreased to HKD 16,157,243,000 from HKD 19,962,419,000, reflecting a decline of 19%[6] - Total liabilities decreased to HKD 11,978,382,000 from HKD 15,338,879,000, a reduction of 22.5%[7] - The company’s equity attributable to owners decreased to HKD 4,012,813,000 from HKD 4,361,133,000, a decline of 8%[8] - The company’s total liabilities were reported at HKD 11,978,382,000, with banking and financial services liabilities at HKD 10,104,603,000 [27] - The total assets as of December 31, 2022, were HKD 16,157,243,000, down from HKD 19,962,419,000 as of December 31, 2021[98] Operational Highlights - The main business operations of the group include manufacturing and distribution of watches and timepieces, property investment, and banking and financial services[9] - The group has not experienced significant operational changes during the year[9] - The group implemented diversified sales models and flexible policies to adapt to the ongoing impact of the COVID-19 pandemic[65] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming fiscal year[30] - The company aims to strengthen collaboration with traditional e-commerce platforms like Tmall and JD.com while actively promoting new e-commerce channels such as Douyin and Kuaishou[72] E-commerce and Market Trends - E-commerce sales accounted for 44.1% of total revenue in 2022, up from 41.4% in 2021[63] - E-commerce sales decreased from HKD 247,381,000 to HKD 180,963,000, a reduction of HKD 66,418,000 or 26.85% for the year ended December 31, 2022[66] - The company plans to enhance its e-commerce market by developing suitable new products to increase unit price and profit margin in the coming year[72] - The company anticipates a stronger recovery in the tourism sector in 2023, which is expected to boost visitor numbers and sales[67] Financial Management - The company incurred financial expenses totaling HKD 70,532,000, which included HKD 41,311,000 in unallocated expenses [26] - The company recognized a provision for expected credit losses of HKD (2,361) thousand on receivables, indicating a cautious outlook on credit quality[29] - The company’s inventory provisions amounted to HKD 24,917,000, indicating challenges in inventory management [27] - The company’s cash and deposits amounted to HKD 18,529 thousand, reflecting liquidity management strategies[29] Governance and Compliance - The company adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with all applicable provisions, except for certain disclosures[131] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2022, and confirmed they present a true and fair view of the group's financial position[141] - The external auditor, Hong Kong Li Xin De Hao CPA Limited, has confirmed that the financial figures align with the audited consolidated financial statements[142] Future Outlook - The group plans to leverage the recovery of the global economy, particularly in mainland China, to drive new development cycles in the watch industry[74] - The company is implementing innovative strategies to improve revenue in response to the challenges posed by the post-COVID-19 era[67] - The group aims to continue improving profitability and reviewing policies and customer relationships to adapt to ongoing challenges from the pandemic and rising living costs[77]

ANNUAL REPORT 2021 年報 創新 拓展 新開始 A YEAR O F C H A N G E | 目錄 | | --- | | 75 | 公司資料 | | --- | --- | | 76 | 我們的主要集團公司 | | 77 | 財務摘要 | | 79 | 主席報告 | | 85 | 管理層討論及分析 | | 107 | 董事及高層管理人員 | | 113 | 企業管治報告 | | 127 | 董事會報告 | | 135 | 審核委員會報告 | | 137 | 提名委員會報告 | | 143 | 風險管理委員會報告 | | 148 | 獨立核數師報告 | | --- | --- | | 153 | 綜合全面收入表 | | 156 | 綜合財務狀況表 | | 158 | 綜合權益變動表 | | 160 | 綜合現金流量表 | | 163 | 綜合財務報表附註 | | 335 | 五年財務資料摘要 | | 338 | 主要投資物業附表 | 75 Citychamp Watch & Jewellery Group Limited 冠城鐘錶珠寶集團有限公司 公司 資料 董事會 執行董事 韓國龍銅紫荊 ...