中港照相2025/26中期业绩报告

2025/26中期業績報告Interim Report Corporate Information公司資料 董事會 BOARD OF DIRECTORS 執行董事孫道弘（副主席兼行政總裁）孫道熙陳蕙君 EXECUTIVE DIRECTORSSun Tao Hung Stanley(Deputy Chairman and Chief Executive Officer)Sun Tao Hsi RyanChan Wai Kwan Rita 非執行董事孫大倫（主席）馮裕津 NON-EXECUTIVE DIRECTORSSun Tai Lun Dennis(Chairman)Fung Yue Chun Stephen 獨立非執行董事劉思湛李家暉劉健輝黃子欣 INDEPENDENT NON-EXECUTIVE DIRECTORSLau William WayneLi Ka Fai DavidLiu Jian Hui AllanWong Chi Yun Allan 公司秘書陳蕙君 COMPANY SECRETARYChan Wai Kwan Rita 主要銀行中國銀行（香港）有限公司中國工商銀行（亞洲）有限公司香港上海滙豐銀行有限公司 PRINCIPAL BANKERSBank of China (Hong Kong) LimitedIndustrial and Commercial Bank of China (Asia) LimitedThe Hongkong and Shanghai Banking Corporation Limited 核數師羅兵咸永道會計師事務所執業會計師註冊公眾利益實體核數師 AUDITORPricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor 註冊辦事處Victoria Place, 5thFloor31 Victoria StreetHamilton HM10Bermuda REGISTERED OFFICEVictoria Place, 5thFloor31 Victoria StreetHamilton HM10Bermuda 香港主要辦事處香港荃灣德士古道220-248號荃灣工業中心8樓 PRINCIPAL OFFICE IN HONG KONG8thFloor, Tsuen Wan Industrial Centre220-248 Texaco RoadTsuen Wan, Hong Kong 主要股份過戶登記處Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICEAppleby Global Corporate Services (Bermuda) LimitedCanon’s Court22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda 香港股份過戶登記分處卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓 HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICETricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 2Management Discussion and Analysis管理層討論及分析8Disclosure of Interests權益披露13Corporate Governance and Other Information企業管治及其他信息15Report on Review of Interim Financial Information中期財務資料的審閱報告17Condensed Consolidated Income Statement簡明綜合收益表18Condensed Consolidated Statement of Comprehensive Income簡明綜合全面收益表19Condensed Consolidated Statement of Financial Position簡明綜合財務狀況表21Condensed Consolidated Statement of Changes in Equity簡明綜合權益變動表22Condensed Consolidated Statement of Cash Flows簡明綜合現金流量表23Notes to the Condensed Consolidated Interim Financial Information簡明綜合中期財務資料附註43Glossary詞彙 Management Discussion and Analysis管理層討論及分析 整體回顧 OVERALL REVIEWREVENUE AND RESULTS 收益及業績 本集團於本期間錄得綜合收益港幣5.06億元，較去年同期的港幣5.36億元減少5.6%，反映本集團各業務分部的經營狀況存在差異，並受到不同市場因素的負面影響。 The Group recorded consolidated revenue of HK$506 million for thePeriod, a decrease of 5.6% from HK$536 million in the Previous Period,reflecting divergent trajectory across the Group’s business segmentswhich were adversely impacted by distinct market forces. 收益下降的主因是消費電子產品及家用電 器分 部和企業對企業商用及專業影音產品分部面 對嚴 峻挑戰，兩者均受到疫情後需求飽和、競爭激烈以及企業預算縮減的影響。此外，沖印及影像服務分部也受到惡劣天氣干擾及疫情後需求恢復正 常等 不利因素的影響。然而，FUJIFILM攝影產品分部的出色表現和專業影音顧問及訂製、設計及安裝服務分部貢獻的可觀收入在若干程度上舒緩了上述 負面 影響。 Thedecline was mainly driven by challenging conditions in theConsumer Electronic Products and Household Appliances segmentand the B-to-B Commercial and Professional AV Products segment,whichwere impacted by post-pandemic demand saturation,intense competition, and reduced corporate budgets. Besides, thePhotofinishing and Imaging Services segment also faced headwindsfrom severe weather disruptions and a normalized post-pandemicdemand.However,these challenges were partially mitigated byoutstanding performance from the FUJIFILM Photographic Productssegment and the significant revenue contribution from the ProfessionalAV Advisory and Custom Design and Installation Services segment. 儘管面臨營收壓力，惟由於本集團專注於高毛利率的產品以抵消其他業務領域面對的營運利 潤率 壓力，故仍能維持26.3%的穩定毛利率。由於銷售及分銷成本及行政開支減少，及投資物業估值虧損下降至港幣460萬元（去年同期：港幣600萬元），故即使收益下降，股東應佔淨利潤仍升至港幣870萬元（去年同期：港幣710萬元）。 Despite the top-line pressure, the Group maintained a steady grossprofit margin of 26.3%, aided by a strategic focus on high-marginproducts which offset operational margin pressures elsewhere. Netprofit attributable to the Shareholders was HK$8.7 million (PreviousPeriod:HK$7.1 million).The increase was achieved despite therevenue decline due to the lowered selling and distribution costs andadministrative expenses, and a lower valuation loss on investmentproperties of HK$4.6 million (Previous Period: HK$6.0 million). 本期間的每股基本盈利為0.73港仙（去年同期：0.60港仙）。鑑於當前經濟形勢並不明朗，董事會不建議就本期間派付任何中期股息。 Basic earnings per share for the Period were 0.73 HK cents (PreviousPeriod:0.60 HK cents).Considering the prevailing economicuncertainties, the Board does not recommend the payment of anyinterim dividend for the Period. 業務回顧 BUSINESS REVIEWMERCHANDISING 產品銷售 FUJIFILM Photographic Products FUJIFILM攝影產品 本 分 部 表 現 出 色，整 體 銷 售 額 較 去 年 同 期 激 增27.7%，增長主要由數碼相機市場需求強勁推動，帶動銷量顯著上升37.5%。Instax產品亦貢獻了穩健的22.1%增長，這得益於本地攝影愛好者和內地遊客的強烈需求。然而，鏡頭於本期間的銷量下降21.7%，原因是其他製造商推出的低價兼容鏡頭，加劇市場競爭。 The segment delivered an impressive performance, with overall salessurging 27.7% year-on-year. The growth was driven by robust demandfor digital cameras which saw a remarkable 37.5% increase in sales.Instax products also contributed to sturdy growth of 22.1% due tothe strong demand from local enthusiasts