维珍妮中期报告 2025/26

INTERIM REPORT2025/26中期報告 CONTENTS Corporate Information2Financial Highlights5Management Discussion and Analysis6Report on Review of Interim Financial Information27Interim Condensed Consolidated Income Statement29Interim Condensed Consolidated Statement of Comprehensive Income30Interim Condensed Consolidated Balance Sheet31Interim Condensed Consolidated Statement of Changes in Equity33Interim Condensed Consolidated Statement of Cash Flows35Notes to the Interim Condensed Consolidated Financial Information37Other Information80 CORPORATE INFORMATION Board of DirectorsExecutive Directors Mr. HUNG Yau Lit (also known as YY Hung)(Chairman and Chief Executive Officer)Mr. YIU Kar Chun Antony(Chief Financial Officer)Mr. LIU ZhenqiangMr. CHEN Zhiping(Chief Operating Officer)Ms. SZE Shui Ling Independent Non-executive Directors Dr. OR Ching FaiMrs. TO WONG Wing Yue AnnieMs. MOH Angela Jen-Yin Board CommitteesAudit CommitteeDr. OR Ching Fai(Chairman)Mrs. TO WONG Wing Yue AnnieMs. MOH Angela Jen-Yin Remuneration Committee Mrs. TO WONG Wing Yue Annie(Chairman)Mr. HUNG Yau Lit (also known as YY Hung)Ms. MOH Angela Jen-Yin Nomination Committee Mr. HUNG Yau Lit (also known as YY Hung)(Chairman)Mrs. TO WONG Wing Yue AnnieMs. MOH Angela Jen-Yin Environmental, Social and Governance CommitteeMr. CHEN Zhiping(Chairman) Ms. SZE Shui LingDr. OR Ching Fai Authorised RepresentativesMr. YIU Kar Chun AntonyMr. LAW Kwan Chuen CORPORATE INFORMATION Company SecretaryMr. LAW Kwan Chuen Auditor 22 PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F, Prince’s BuildingCentralHong Kong Registered Office Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Principal Place of Business and Head Officein Hong Kong 63A10 10th Floor, Tower ARegent Centre63 Wo Yi Hop RoadKwai ChungHong Kong Principal Share Registrar 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 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong 183171712-1716 CORPORATE INFORMATION Principal Bankers The Hongkong and Shanghai Banking Corporation LimitedHang Seng Bank LimitedBank of China (Hong Kong) Limited Investor and Press Relations Adviser 1824 Strategic Financial Relations Limited24/F, Admiralty Centre I18 Harcourt RoadHong Kong www.reginamiracleholdings.com Company Websitewww.reginamiracleholdings.com 2199 Stock Code2199 FINANCIAL HIGHLIGHTS The board of directors (the “Board”) of Regina MiracleInternational (Holdings) Limited (“Regina Miracle” orthe “Company”) is pleased to announce the unauditedinterim results of the Company and its subsidiaries(collectively, the “Group”) for the six months ended 30September 2025 (“1HF2026” or the “Period”), togetherwith the comparative figures for the corresponding yearin 2024 (“1HF2025”). 20259 30202620242025 Comparison of Key Financial Information andFinancial Ratios MANAGEMENTDISCUSSIONAND ANALYSIS MANAGEMENT DISCUSSION AND ANALYSIS MARKET REVIEW D u r i n g t h e p e r i o d u n d e r r e v i e w , t h e g l o b a lmacroeconomy faced multiple challenges, with tarifffluctuations prompting brands to adjust their supply chaindeployment. Against this backdrop, brands generallysought innovative and more competitive integratedproduct solutions, aligning closely with the core strengthsof Regina Miracle. Adhering to its strategic directionof “prioritizing and strengthening core segments”,the Group has been relentlessly refining its InnovativeD e s i g n M a n u f a c t u r i n g ( “ I D M ” ) b u s i n e s s m o d e l .Through sustained investment in innovation and qualityenhancement, the Group deepened its collaboration withexisting brand partners to jointly explore new productcategories and unlock new development opportunities. (IDM) Meanwhile, the joint venture (“VS China”) establishedby the Group and Victoria’s Secret & Co. (“Victoria’sS e c r e t” ) c o n t i n u e s t o d r i v e t h e b r a n d ’ s h e a l t h ygrowth through the synergy between precise productdevelopment and market operation strategies in linewith current consumer trends. Its operations deliveredsatisfactory performance during the Period and continueto record robust growth. Victoria’s Secret& Co.Victoria’s Secret MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW Financial Performance Due to temporary impact of tariff fluctuations, theGroup recorded revenue of approximately HK$3,840.4million for the Period (1HF2025: HK$3,977.6 million).Gross profit amounted to approximately HK$893.9million, with gross profit margin of 23.3% (1HF2025:HK$938.0 million and 23.6%, respectively). Earningsb