英皇钟表珠宝(00887) - 2024 - 年度财报

Financial Performance - Total revenue increased by 8.4% to HK$5,230.3 million in 2024, compared to HK$4,823.2 million in 2023[19] - Revenue from Hong Kong rose by 16.5% to HK$2,923.2 million, accounting for 55.9% of total revenue[19] - Revenue from the jewellery segment surged by 41.0% to HK$1,893.0 million, representing 36.2% of total revenue[19] - Gross profit for the year was HK$1,480.9 million, slightly up from HK$1,450.3 million in 2023[20] - Net profit decreased by 14.0% to HK$256.7 million, down from HK$299.2 million in 2023[20] - Basic earnings per share fell to HK3.79 cents, compared to HK4.41 cents in the previous year[20] Dividends - The company recommended a final dividend of HK0.45 cent per share, down from HK0.56 cent in 2023[20] - Total dividends for the full year amounted to HK1.10 cents per share, a decrease from HK1.32 cents in 2023[20] - The Group's interim dividend for the Year was HK$0.65 per share, totaling approximately HK$44.1 million, a decrease from HK$51.5 million in 2023[101] - The proposed final dividend is HK$0.45 per share, amounting to approximately HK$32,700,000, down from HK$0.56 per share and HK$38,000,000 in 2023[106] Market Environment - Market uncertainties, including geopolitical tensions and soft consumer confidence in China, impacted the business environment[24] - The Group expects the overall retail market to regain growth momentum due to increased foot traffic and disposable income following recent economic stimulus measures[50] Business Strategy and Operations - The company continues to be a leading retailer of European-made watches and jewellery products under its own brand, "Emperor Jewellery"[25] - The Group aims to enhance its brand positioning and increase market share in the wedding market by expanding product diversity and personalisation[44] - The Group is focused on maintaining solid relationships with major high-end luxury Swiss watch brands to uphold its leading position in the watch industry[35] - The Group plans to optimise product offerings in response to dynamic market conditions and enhance its competitive edge[54] - The Group has established a presence on several online shopping platforms, including HKTVmall, Tmall, and jd.com, to enhance customer experience and expand revenue sources[46] Store and Market Presence - As of December 31, 2024, the Group operates a total of 82 stores across Hong Kong, Macau, Mainland China, Singapore, and Malaysia, with 34 stores in Mainland China alone[32] - Approximately 75% of the Group's stores in Mainland China are located in first-tier and new first-tier cities, aligning with its customer targeting strategy[33] Financial Position - As of December 31, 2024, the Group's bank balances and cash increased to HK$949.8 million, up from HK$619.6 million in 2023, with no bank borrowings reported[55] - The Group's current assets and current liabilities were approximately HK$4,071.8 million and HK$531.2 million, respectively, resulting in a current ratio of 7.7, an increase from 7.3 in 2023[56] - The Group maintained a net cash position with a net gearing ratio of zero as of December 31, 2024, consistent with the previous year[58] - The current ratio and quick ratio improved to 7.7 and 2.0, respectively, indicating strong liquidity[56] - The Group has approximately HK$1,043.3 million in unutilized banking facilities available for future use[55] Shareholder Information - As of December 31, 2024, Ms. Cindy Yeung holds 4,298,630,000 shares, representing 63.41% of the issued voting shares of the Company[141] - The Company has a share option scheme with 687,308,812 options available for grant, equating to 9.47% of the issued shares as of the report date[151] - The total number of shares held by Ms. Cindy Yeung in Emperor E Hotel is 636,075,041, which is 53.52% of the issued voting shares[148] Corporate Governance - The Board is committed to high standards of corporate governance, ensuring accountability, responsibility, and transparency towards shareholders and stakeholders[199] - The company fully complied with all code provisions of the Corporate Governance Code during the year[200] Connected Transactions - The Group's transactions with connected persons were deemed non-exempt continuing connected transactions under Chapter 14A of the Listing Rules[179] - The independent auditor issued an unqualified conclusion regarding the Non-exempt Continuing Connected Transactions (CCTs) in accordance with the Listing Rules[181]