欧化2024/2025年报

CORPORATE INFORMATION AND KEY DATESMANAGEMENT DISCUSSION AND ANALYSISBIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENTDIRECTORS’ REPORTCORPORATE GOVERNANCE REPORTINDEPENDENT AUDITOR’S REPORTCONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOMECONSOLIDATED STATEMENT OF FINANCIAL POSITIONCONSOLIDATED STATEMENT OF CHANGES IN EQUITYCONSOLIDATED STATEMENT OF CASH FLOWSNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFIVE-YEAR FINANCIAL SUMMARYCONTENTS 24131627566364666769136 Ulferts International LimitedAnnual Report 2024/2025CORPORATE INFORMATION AND KEY DATESAs of 1 April 202520254 1*DirectorsYeung Ching Loong, Alexander(Chairman)Chan Chuen YinFan Man Seung, VanessaChan Yee Man*Chiu Kin Fai*Ng Hoi Yue**Independent Non-executive DirectorsCompany SecretaryChan Lai YimExecutive CommitteeYeung Ching Loong, Alexander(Chairman)Chan Chuen YinFan Man Seung, VanessaAudit CommitteeChan Yee Man(Chairperson)Chiu Kin FaiNg Hoi YueRemuneration CommitteeNg Hoi Yue(Chairman)Yeung Ching Loong, AlexanderChan Yee ManNomination CommitteeChiu Kin Fai(Chairman)Chan Chuen YinChan Yee ManCorporate Governance CommitteeFan Man Seung, Vanessa(Chairperson)Chiu Kin FaiNg Hoi YueA representative from company secretarial functionA representative from finance and accounts functionInvestor Relations ContactLuk Man Ching, AnnaEmail: ir1711@EmperorGroup.com ***ir1711@EmperorGroup.com Ulferts International LimitedCORPORATE INFORMATION AND KEY DATESAs of 1 April 202520254 1https://www.UlfertsIntl.com1933Websitehttps://www.UlfertsIntl.comStock CodeHong Kong Stock Exchange: 1711Registered OfficeUnits 1905-07, 19th FloorEmperor Group Centre288 Hennessy RoadWanchaiHong KongShare RegistrarUnion Registrars LimitedSuites 3301-04, 33/FTwo Chinachem Exchange Square338 King's RoadNorth PointHong KongAuditorErnst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27th Floor, One Taikoo Place979 King's RoadQuarry Bay, Hong KongPrincipal BankersThe Bank of East Asia, LimitedChong Hing Bank LimitedThe Hongkong and Shanghai Banking Corporation LimitedKey DatesAnnual Results Announcement25 June 2025Annual General Meeting19 August 202510:30 a.m.– Latest Time to Lodge Transfers13 August 2025(before 4:30 p.m.) Annual Report 2024/202517112881905-0733823301-0497927 2025625202581910302025813430 Ulferts International LimitedAnnual Report 2024/2025MANAGEMENT DISCUSSION AND ANALYSIS99,700,000155,100,00037,600,00027.0%25,000,000Theboard of directors(“Board”or“Director(s)”)of UlfertsInternational Limited ( “Company” ) presents the consolidated resultsofthe Company and its subsidiaries(collectively referred to as“Group”) for the year ended 31 March 2025 (“Year”).RESULTSAgainstthe backdrop of a challenging market environment andweakeningconsumption sentiment,the Group’s total revenueinevitably decreased to HK$153.0 million (2024: HK$171.6 million)during the Year. Gross profit was HK$88.3 million (2024: HK$99.7million).Revenuefrom the retail segment amounted to HK$145.1 million(2024: HK$155.1 million), accounting for 94.8% (2024: 90.4%) of theGroup’s total revenue. Aggregate retail sales revenue of “Ulferts”and“Ulferts Signature”amounted to HK$70.8 million(2024:HK$78.0million),and remained the key revenue contributor,accounting for 48.8% (2024: 50.3%) of total retail revenue. The retailsales revenue of “atĆhome” was HK$37.6 million (2024: HK$35.2million), accounting for 25.9% (2024: 22.7%) of total retail revenue.Aggregateretail sales revenue of“Slumberland”and“Ulfenbo”was HK$36.7 million (2024: HK$41.9 million), accounting for 25.3%(2024: 27.0%) of total retail revenue.Dueto the decrease in its total revenue and the aggregateimpairment loss of property, plant and equipment and right-of-useassetsof HK$16.1 million(2024:HK$5.2 million),the Grouprecordeda net loss of HK$41.0 million(2024:HK$25.0 million)duringthe Year.Basic loss per share was HK5.13 cents(2024:HK3.13 cents).MARKET REVIEWGeopolitical tensions and various economic uncertainties such asinflationand unemployment rates have dampened consumersentiment. Despite an interest rate cut and removal of all propertycooling measures during the Year, the downward trend in prices oflocal residential properties prices showed no sign of abating. Therehasbeen a deepening market competition among the productofferings and price ranges. In the face of the market challengest o g e t h e rw i t h t h e g l o o m y p ro p e r t y m a r k e t ,t h e o p e r a t i n genvironmentfor the furniture market remained relatively complexduring the Year.BUSINESS REVIEWThe Group is a leading retailer of high quality home furniture mainlyimported from Europe. The Company’s shares have been listed ontheMain Board of The Stock Exchange of Hong Kong Limited("Stock Exchange") since January 2018.MANAGEMENT DISCUSSION AND ANALYSIS 2025331153,000,0002024171,600,00088,300,0002024145,100,000202494.8%202490.4%70,800,000202478,000,00048.8%202450.3%atĆhome202435,200,00025.9%202422.7%36,700,000202441,900,00025.3%202416