慕诗国际二零二三年度年报

MOISELLE INTERNATIONAL HOLDINGS LIMITED 目 錄CONTENTS 2公司資料Corporate Information4主席報告Chairman’s Statement12管理層討論及分析Management Discussion and Analysis20董事及高級管理人員簡介Directors and Senior Management Profiles25企業管治報告Corporate Governance Report38董事會報告書Directors’ Report49獨立核數師報告書Independent Auditor’s Report 60綜合損益及其他全面收益表Consolidated Statement of Profit or Loss and Other Comprehensive Income62綜合財務狀況表Consolidated Statement of Financial Position64綜合權益變動表Consolidated Statement of Changes in Equity65綜合現金流量表Consolidated Statement of Cash Flows67綜合財務報表附註Notes to the Consolidated Financial Statements177持作投資物業Properties held for Investment179集團財務概要Group Financial Summary 公司資料Corporate Information 陳欽杰先生（主席）徐巧嬌女士陳思俊先生 BOARD OF DIRECTORSExecutive Mr. CHAN Yum Kit(Chairman)Ms. TSUI How Kiu, ShirleyMr. CHAN Sze Chun 余玉瑩女士朱俊傑先生黃淑英女士吳麗文博士 Independent Non-ExecutiveMs. YU Yuk Ying, VivianMr. CHU Chun Kit, SidneyMs. WONG Shuk Ying, HelenDr. Ng Lai Man, Carmen 余玉瑩女士朱俊傑先生黃淑英女士 AUDIT COMMITTEEMs. YU Yuk Ying, VivianMr. CHU Chun Kit, SidneyMs. WONG Shuk Ying, Helen 余玉瑩女士朱俊傑先生陳思俊先生 REMUNERATION COMMITTEEMs. YU Yuk Ying, VivianMr. CHU Chun Kit, SidneyMr. CHAN Sze Chun 余玉瑩女士黃淑英女士徐巧嬌女士 NOMINATION COMMITTEEMs. YU Yuk Ying, VivianMs. WONG Shuk Ying, HelenMs. TSUI How Kiu, Shirley 彭蓮女士 COMPANY SECRETARYMs. PANG Lin 天職香港會計師事務所有限公司註冊公眾利益實體核數師 INDEPENDENT AUDITORBaker Tilly Hong Kong LimitedRegistered Public Interest Entity Auditors PRINCIPAL BANKERSThe Hongkong and Shanghai Banking Corporation LimitedNanyang Commercial Bank, LimitedBank of China (Hong Kong) Limited 香港上海滙豐銀行有限公司南洋商業銀行有限公司中國銀行（香港）有限公司 中原測量師行有限公司 PROPERTY VALUERCentaline Surveyors Limited 香港法律梁鄧蔡律師事務所 LEGAL ADVISERSas to Hong Kong lawPansy Leung Tang & Chua, Solicitors 開曼群島法律康德明律師事務所 as to the Cayman Islands lawConyers Dill & Pearman 中國法律四川致高律師事務所 as to PRC lawSichuan Zhigao Law Firm REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港 北角健康東街39號柯達大廈第二期11樓1-5室 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS Units 1-5, 11th FloorKodak House 239 Healthy Street EastNorth PointHong Kong WEBSITEShttps://moiselle-hk.comhttps://ir.moiselle.com.hk https://moiselle-hk.comhttps://ir.moiselle.com.hk PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 香港證券登記有限公司香港灣仔皇后大道東一八三號合和中心十七樓1712-1716號舖 Hong Kong Registrars LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchai, Hong Kong KEY DATES 暫停辦理股份過戶及登記：就股東週年大會而言，為二零二三年九月二十日至二零二三年九月二十七日 Closure of Register of Members:20 September 2023 to 27 September 2023for Annual General Meeting Annual General Meeting:27 September 2023 股東週年大會：二零二三年九月二十七日 主席報告Chairman’s Statement 致各股東： Dear Fellow Shareholders, On behalf of the board of Directors (the “Board”) of MoiselleInternational Holdings Limited (“Moiselle” or the “Company”), Ipresent the results of the Company and its subsidiaries (whichare collectively referred to as the “Group”) for the year ended 31March 2023 (the “Year”). 本人謹此代表慕詩國際集團有限公司（「慕詩」或「本公司」）董 事 會（「董 事 會」）提 呈 本 公 司 及 其 附 屬 公 司（統 稱「本 集團」）截至二零二三年三月三十一日止年度（「本年度」）之業績。 MARKET OVERVIEW During the Year under review, the apparel retail markets in HongKong and Mainland China experienced downturns in a volatileand complicated business environment, which was marked byirrepressibly high inflation, interest rate hikes by major centralbanks as a response, escalating geopolitical conflicts and, in thecase of China, the government’s tighter regulation of the propertyandtechnology sectors and its zero-Covid policy that havecombined to cause an economic slowdown. 於回顧年度內，經營環境複雜多變－通脹高居不下、主要央行加息應對、地緣政治衝突加劇；於中國，政府收緊對房地產及科技行業的監管及採取清零政策對付新冠肺炎疫情，導致國內經濟放緩，香港及中國內地的服裝零售市場皆因而變得低迷。 慕詩有約55%的收入來自香港，由於二零二三年二月中港兩地全面重新通關後訪港的中國內地旅客的購買力不如疫情爆發前強勁，因此，服裝零售市場的復甦未如預期。一方面，中國內地遊客一直佔訪港旅客的絕大多數，其出境旅客一直以來都是振興香港消費市場的強大力量，所以中國內地遊客購買力一旦減弱，對香港服裝零售銷售就會造成重大影響。此外，中國內地遊客數目僅於臨近本公司回顧財政年度末才大幅回升，而且數字也因為其出境旅客於長達約三年的跨境遊客檢疫規定放寬後更喜歡到外國而非香港遊玩而低於預期。這亦意味着香港零售商的一些中國內地顧客分流到其他旅遊目的地。雖然訪港旅客總數因為極低的比較基數以及香港政府放寬入境旅客的檢疫措施於二零二二年飆升561.5%至604,564人次，但該數字與二零 In Hong Kong, where Moiselle derived about 55% of its revenue,a recovery in the apparel retail market fell short of expectationsbecause the mainland Chinese tourists who returned to the cityafter the full reopening of the border between the two places inFebruary 2023 did not have as strong buying power as they usedto have before the pandemic outbreak. For one thing, MainlandChina has always accounted for a vast majority of the visitorarrivals in Hong Kong and its outbound tourists had buoyed upthecity’s consumer market.The Mainland Chinese tourists’weaker buying power had a considerable impact on the city’