Results Summary:
-- Recorded revenue of
-- Gross profit margin was approximately8.5%, representing a year-on-year decrease of 400bps.
-- Loss for the period amounted to approximately
-- Loss attributable to equity shareholders of the Company amounted to
In the first half year of 2021, the pandemic was well-controlled in Mainland China, the overall economy began to recover, and the recovery continued to expand. Globally, however, the coronavirus pandemic was still fluctuating, the financial environment was still unpredictable, and the economy recovery of various country showed a trend of divergence, resulting in an extremely unstable economic environment. Under the principle of "sound, steady and long-term operations", the Group adapted to market conditions, adjusted, and deployed its business in a timely manner, and enhanced the management level in response to the challenging environment, so as to ensure the survival and health of the enterprise, aiming to achieve long-term development in the future.
For the six months ended
During the period under review, in accordance with the established strategy, the Group continued to close the remaining watch retail stores in
At present, from a global perspective, although the coronavirus pandemic has eased, it has not been effectively controlled, and the trend of political unrest is also obvious. However, as the pandemic was well-controlled in Mainland China, the Group expect the economy in Mainland China to sustain its steady trend. In the second half of the year, the Group will continue to adhere to the principle of "sound, steady and long-term operations". The Group will leverage on the stable environment of economic development in Mainland China to focus on expanding the development in manufacturing of high-end accessories for renowned watches and engage in deeper cooperation with brands and international counterparts in various ways, striving to become an indispensable independent segment in the global industrial ecological chain of high-end watch groups. The Group will continue to enhance the service standard of its integrated services for commercial space in Mainland China and international markets. The Group will also embark on a limited number of diversified business activities to include the manufacturing of high-end product accessories in other high-end lifestyle products such as jewelry, cosmetics, and mobile phones, and to expand its commercial space beautification services to include living space beautification services. At the same time, the Group will adapt to market changes, continue to explore new profit models, and achieve new breakthroughs in corporate development.
Breakdown of Revenue
For the six months ended 30 June
RMB (Thousand) 2021 % 2020 %
High-end Consuming Accessories 210,787 46.8 208,502 32.0
Watches Retail and Trading Business 64,518 14.3 399,959 61.4
Commodity Trading 175,444 38.9 43,370 6.6
Total 450,749 100 651,831 100
The Group owns a number of watch accessories manufacturing enterprises, including the manufacturing of furniture and items used for watch sales and watch packaging products, commercial space design, production and decoration, serving customers throughout the greater
The Group has maintained sound and in-depth collaborations with many world-renowned premier brand suppliers. To engaging in deeper cooperation with brands and international counterparts in various ways, striving to becoming an indispensable independent segment in the global industrial ecological chain of high-end watch groups. The Group will continue to enhance the service standard of its integrated services for commercial space in domestic and international markets. The Group will also embark on a limited number of diversified business activities to include the production of high-end product accessories in other high end lifestyle products such as jewellery, cosmetics and mobile phones, and to expand its commercial space beautification services to include living space beautification services, so as to truly establish the Group as a platform for business-friendly and home-friendly lifestyle services.
The Company has been listed on the Main Board of the
For enquiries, please contact:
Ms.
Fax: +852 2375 8010
Ms.
Ms.
Fax: +852 3150 6728
Copyright 2021 ACN Newswire . All rights reserved.
© Japan Corporate News, source